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Side-by-side financial comparison of BWX Technologies, Inc. (BWXT) and Cloudflare, Inc. (NET). Click either name above to swap in a different company.
BWX Technologies, Inc. is the larger business by last-quarter revenue ($885.8M vs $614.5M, roughly 1.4× Cloudflare, Inc.). BWX Technologies, Inc. runs the higher net margin — 10.5% vs -2.0%, a 12.5% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 18.7%). Cloudflare, Inc. produced more free cash flow last quarter ($105.2M vs $56.8M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 21.1%).
BWX Technologies, Inc. is a company headquartered in Lynchburg, Virginia that supplies nuclear components and fuel internationally.
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.
BWXT vs NET — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $885.8M | $614.5M |
| Net Profit | $93.0M | $-12.1M |
| Gross Margin | — | 73.6% |
| Operating Margin | 10.4% | -8.0% |
| Net Margin | 10.5% | -2.0% |
| Revenue YoY | 18.7% | 33.6% |
| Net Profit YoY | 30.9% | 6.0% |
| EPS (diluted) | $1.02 | $-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 | $885.8M | $614.5M | ||
| Q3 25 | $866.3M | $562.0M | ||
| Q2 25 | $764.0M | $512.3M | ||
| Q1 25 | $682.3M | $479.1M | ||
| Q4 24 | $746.3M | $459.9M | ||
| Q3 24 | $672.0M | $430.1M | ||
| Q2 24 | $681.5M | $401.0M | ||
| Q1 24 | $604.0M | $378.6M |
| Q4 25 | $93.0M | $-12.1M | ||
| Q3 25 | $82.1M | $-1.3M | ||
| Q2 25 | $78.4M | $-50.4M | ||
| Q1 25 | $75.5M | $-38.5M | ||
| Q4 24 | $71.0M | $-12.8M | ||
| Q3 24 | $69.5M | $-15.3M | ||
| Q2 24 | $73.0M | $-15.1M | ||
| Q1 24 | $68.5M | $-35.5M |
| Q4 25 | — | 73.6% | ||
| Q3 25 | 21.8% | 74.0% | ||
| Q2 25 | 25.1% | 74.9% | ||
| Q1 25 | 24.2% | 75.9% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | 24.4% | 77.7% | ||
| Q2 24 | 24.7% | 77.8% | ||
| Q1 24 | 24.6% | 77.5% |
| Q4 25 | 10.4% | -8.0% | ||
| Q3 25 | 13.1% | -6.7% | ||
| Q2 25 | 13.4% | -13.1% | ||
| Q1 25 | 14.2% | -11.1% | ||
| Q4 24 | 12.4% | -7.5% | ||
| Q3 24 | 14.4% | -7.2% | ||
| Q2 24 | 14.5% | -8.7% | ||
| Q1 24 | 15.4% | -14.4% |
| Q4 25 | 10.5% | -2.0% | ||
| Q3 25 | 9.5% | -0.2% | ||
| Q2 25 | 10.3% | -9.8% | ||
| Q1 25 | 11.1% | -8.0% | ||
| Q4 24 | 9.5% | -2.8% | ||
| Q3 24 | 10.3% | -3.6% | ||
| Q2 24 | 10.7% | -3.8% | ||
| Q1 24 | 11.3% | -9.4% |
| Q4 25 | $1.02 | $-0.03 | ||
| Q3 25 | $0.89 | $0.00 | ||
| Q2 25 | $0.85 | $-0.15 | ||
| Q1 25 | $0.82 | $-0.11 | ||
| Q4 24 | $0.77 | $-0.05 | ||
| Q3 24 | $0.76 | $-0.04 | ||
| Q2 24 | $0.79 | $-0.04 | ||
| Q1 24 | $0.75 | $-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 | $499.8M | $943.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $1.5B |
| Total Assets | $4.3B | $6.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $499.8M | $943.5M | ||
| Q3 25 | $79.6M | $1.1B | ||
| Q2 25 | $37.0M | $1.5B | ||
| Q1 25 | $55.4M | $204.5M | ||
| Q4 24 | $74.1M | $147.7M | ||
| Q3 24 | $35.5M | $182.9M | ||
| Q2 24 | $48.3M | $157.0M | ||
| Q1 24 | $45.9M | $254.4M |
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.1B | $1.0B | ||
| Q3 24 | $1.1B | $973.1M | ||
| Q2 24 | $998.5M | $881.5M | ||
| Q1 24 | $946.2M | $797.2M |
| Q4 25 | $4.3B | $6.0B | ||
| Q3 25 | $3.8B | $5.8B | ||
| Q2 25 | $3.7B | $5.6B | ||
| Q1 25 | $3.1B | $3.7B | ||
| Q4 24 | $2.9B | $3.3B | ||
| Q3 24 | $2.9B | $3.1B | ||
| Q2 24 | $2.8B | $2.9B | ||
| Q1 24 | $2.8B | $2.8B |
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 | $127.0M | $190.4M |
| Free Cash FlowOCF − Capex | $56.8M | $105.2M |
| FCF MarginFCF / Revenue | 6.4% | 17.1% |
| Capex IntensityCapex / Revenue | 7.9% | 13.9% |
| Cash ConversionOCF / Net Profit | 1.37× | — |
| TTM Free Cash FlowTrailing 4 quarters | $295.3M | $287.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $127.0M | $190.4M | ||
| Q3 25 | $143.2M | $167.1M | ||
| Q2 25 | $159.0M | $99.8M | ||
| Q1 25 | $50.6M | $145.8M | ||
| Q4 24 | $276.9M | $127.3M | ||
| Q3 24 | $32.6M | $104.7M | ||
| Q2 24 | $65.9M | $74.8M | ||
| Q1 24 | $33.0M | $73.6M |
| Q4 25 | $56.8M | $105.2M | ||
| Q3 25 | $94.9M | $82.5M | ||
| Q2 25 | $126.3M | $39.9M | ||
| Q1 25 | $17.3M | $59.9M | ||
| Q4 24 | $224.4M | $54.2M | ||
| Q3 24 | $-7.7M | $54.5M | ||
| Q2 24 | $35.5M | $45.2M | ||
| Q1 24 | $2.6M | $41.5M |
| Q4 25 | 6.4% | 17.1% | ||
| Q3 25 | 11.0% | 14.7% | ||
| Q2 25 | 16.5% | 7.8% | ||
| Q1 25 | 2.5% | 12.5% | ||
| Q4 24 | 30.1% | 11.8% | ||
| Q3 24 | -1.1% | 12.7% | ||
| Q2 24 | 5.2% | 11.3% | ||
| Q1 24 | 0.4% | 11.0% |
| Q4 25 | 7.9% | 13.9% | ||
| Q3 25 | 5.6% | 15.1% | ||
| Q2 25 | 4.3% | 11.7% | ||
| Q1 25 | 4.9% | 17.9% | ||
| Q4 24 | 7.0% | 15.9% | ||
| Q3 24 | 6.0% | 11.7% | ||
| Q2 24 | 4.5% | 7.4% | ||
| Q1 24 | 5.0% | 8.5% |
| Q4 25 | 1.37× | — | ||
| Q3 25 | 1.74× | — | ||
| Q2 25 | 2.03× | — | ||
| Q1 25 | 0.67× | — | ||
| Q4 24 | 3.90× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.90× | — | ||
| Q1 24 | 0.48× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BWXT
| Nuclear Component Program | $436.4M | 49% |
| Nuclear Manufacturing | $134.8M | 15% |
| Cost Plus Fee | $116.1M | 13% |
| Uranium And Nuclear Services | $103.8M | 12% |
| Commercial Operations | $49.0M | 6% |
| Commercial Operations Segment | $33.7M | 4% |
| Transferred At Point In Time | $1.3M | 0% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
