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Side-by-side financial comparison of B&G Foods, Inc. (BGS) and Cloudflare, Inc. (NET). Click either name above to swap in a different company.
Cloudflare, Inc. is the larger business by last-quarter revenue ($614.5M vs $439.3M, roughly 1.4× B&G Foods, Inc.). Cloudflare, Inc. runs the higher net margin — -2.0% vs -4.4%, a 2.4% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs -4.7%). Cloudflare, Inc. produced more free cash flow last quarter ($105.2M vs $-70.7M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs -12.8%).
B&G Foods, Inc. is an American branded foods holding company based in Parsippany, New Jersey. The company was formed in 1996 to acquire Bloch & Guggenheimer, a Manhattan-based producer of pickles, relish and condiments which had been founded in 1889.
Cloudflare, Inc. is an American technology company headquartered in San Francisco, California, that provides a range of internet services, including content delivery network (CDN) services, cloud cybersecurity, DDoS mitigation, and ICANN-accredited domain registration. The company's services act primarily as a reverse proxy between website visitors and a customer's hosting provider, improving performance and protecting against malicious traffic.
BGS vs NET — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $439.3M | $614.5M |
| Net Profit | $-19.1M | $-12.1M |
| Gross Margin | 22.5% | 73.6% |
| Operating Margin | 2.5% | -8.0% |
| Net Margin | -4.4% | -2.0% |
| Revenue YoY | -4.7% | 33.6% |
| Net Profit YoY | -356.5% | 6.0% |
| EPS (diluted) | $-0.24 | $-0.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $614.5M | ||
| Q3 25 | $439.3M | $562.0M | ||
| Q2 25 | $424.4M | $512.3M | ||
| Q1 25 | $425.4M | $479.1M | ||
| Q4 24 | $551.6M | $459.9M | ||
| Q3 24 | $461.1M | $430.1M | ||
| Q2 24 | $444.6M | $401.0M | ||
| Q1 24 | $475.2M | $378.6M |
| Q4 25 | — | $-12.1M | ||
| Q3 25 | $-19.1M | $-1.3M | ||
| Q2 25 | $-9.8M | $-50.4M | ||
| Q1 25 | $835.0K | $-38.5M | ||
| Q4 24 | $-222.4M | $-12.8M | ||
| Q3 24 | $7.5M | $-15.3M | ||
| Q2 24 | $3.9M | $-15.1M | ||
| Q1 24 | $-40.2M | $-35.5M |
| Q4 25 | — | 73.6% | ||
| Q3 25 | 22.5% | 74.0% | ||
| Q2 25 | 20.5% | 74.9% | ||
| Q1 25 | 21.2% | 75.9% | ||
| Q4 24 | 21.5% | 76.4% | ||
| Q3 24 | 22.2% | 77.7% | ||
| Q2 24 | 20.7% | 77.8% | ||
| Q1 24 | 22.9% | 77.5% |
| Q4 25 | — | -8.0% | ||
| Q3 25 | 2.5% | -6.7% | ||
| Q2 25 | 5.2% | -13.1% | ||
| Q1 25 | 8.4% | -11.1% | ||
| Q4 24 | -46.6% | -7.5% | ||
| Q3 24 | 11.1% | -7.2% | ||
| Q2 24 | 9.9% | -8.7% | ||
| Q1 24 | -3.3% | -14.4% |
| Q4 25 | — | -2.0% | ||
| Q3 25 | -4.4% | -0.2% | ||
| Q2 25 | -2.3% | -9.8% | ||
| Q1 25 | 0.2% | -8.0% | ||
| Q4 24 | -40.3% | -2.8% | ||
| Q3 24 | 1.6% | -3.6% | ||
| Q2 24 | 0.9% | -3.8% | ||
| Q1 24 | -8.5% | -9.4% |
| Q4 25 | — | $-0.03 | ||
| Q3 25 | $-0.24 | $0.00 | ||
| Q2 25 | $-0.12 | $-0.15 | ||
| Q1 25 | $0.01 | $-0.11 | ||
| Q4 24 | $-2.81 | $-0.05 | ||
| Q3 24 | $0.09 | $-0.04 | ||
| Q2 24 | $0.05 | $-0.04 | ||
| Q1 24 | $-0.51 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $60.9M | $943.5M |
| Total DebtLower is stronger | $2.0B | — |
| Stockholders' EquityBook value | $470.7M | $1.5B |
| Total Assets | $2.9B | $6.0B |
| Debt / EquityLower = less leverage | 4.30× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $943.5M | ||
| Q3 25 | $60.9M | $1.1B | ||
| Q2 25 | $54.1M | $1.5B | ||
| Q1 25 | $61.2M | $204.5M | ||
| Q4 24 | $50.6M | $147.7M | ||
| Q3 24 | $54.7M | $182.9M | ||
| Q2 24 | $40.3M | $157.0M | ||
| Q1 24 | $42.5M | $254.4M |
| Q4 25 | — | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $2.0B | — |
| Q4 25 | — | $1.5B | ||
| Q3 25 | $470.7M | $1.3B | ||
| Q2 25 | $501.4M | $1.2B | ||
| Q1 25 | $513.1M | $1.4B | ||
| Q4 24 | $524.8M | $1.0B | ||
| Q3 24 | $755.3M | $973.1M | ||
| Q2 24 | $765.0M | $881.5M | ||
| Q1 24 | $781.2M | $797.2M |
| Q4 25 | — | $6.0B | ||
| Q3 25 | $2.9B | $5.8B | ||
| Q2 25 | $2.9B | $5.6B | ||
| Q1 25 | $3.0B | $3.7B | ||
| Q4 24 | $3.0B | $3.3B | ||
| Q3 24 | $3.4B | $3.1B | ||
| Q2 24 | $3.4B | $2.9B | ||
| Q1 24 | $3.4B | $2.8B |
| Q4 25 | — | — | ||
| Q3 25 | 4.30× | — | ||
| Q2 25 | 3.97× | — | ||
| Q1 25 | 3.91× | — | ||
| Q4 24 | 3.85× | — | ||
| Q3 24 | 2.75× | — | ||
| Q2 24 | 2.67× | — | ||
| Q1 24 | 2.61× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-64.6M | $190.4M |
| Free Cash FlowOCF − Capex | $-70.7M | $105.2M |
| FCF MarginFCF / Revenue | -16.1% | 17.1% |
| Capex IntensityCapex / Revenue | 1.4% | 13.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $54.8M | $287.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $190.4M | ||
| Q3 25 | $-64.6M | $167.1M | ||
| Q2 25 | $17.8M | $99.8M | ||
| Q1 25 | $52.7M | $145.8M | ||
| Q4 24 | $80.3M | $127.3M | ||
| Q3 24 | $4.2M | $104.7M | ||
| Q2 24 | $11.3M | $74.8M | ||
| Q1 24 | $35.1M | $73.6M |
| Q4 25 | — | $105.2M | ||
| Q3 25 | $-70.7M | $82.5M | ||
| Q2 25 | $11.5M | $39.9M | ||
| Q1 25 | $42.4M | $59.9M | ||
| Q4 24 | $71.7M | $54.2M | ||
| Q3 24 | $-679.0K | $54.5M | ||
| Q2 24 | $5.2M | $45.2M | ||
| Q1 24 | $27.5M | $41.5M |
| Q4 25 | — | 17.1% | ||
| Q3 25 | -16.1% | 14.7% | ||
| Q2 25 | 2.7% | 7.8% | ||
| Q1 25 | 10.0% | 12.5% | ||
| Q4 24 | 13.0% | 11.8% | ||
| Q3 24 | -0.1% | 12.7% | ||
| Q2 24 | 1.2% | 11.3% | ||
| Q1 24 | 5.8% | 11.0% |
| Q4 25 | — | 13.9% | ||
| Q3 25 | 1.4% | 15.1% | ||
| Q2 25 | 1.5% | 11.7% | ||
| Q1 25 | 2.4% | 17.9% | ||
| Q4 24 | 1.6% | 15.9% | ||
| Q3 24 | 1.0% | 11.7% | ||
| Q2 24 | 1.4% | 7.4% | ||
| Q1 24 | 1.6% | 8.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 63.17× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.56× | — | ||
| Q2 24 | 2.87× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BGS
| Specialty Segment | $150.5M | 34% |
| Meals Segment | $110.0M | 25% |
| Spices And Flavor Solutions Segment | $101.4M | 23% |
| Frozen And Vegetables Segment | $77.4M | 18% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
