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Side-by-side financial comparison of CF Industries (CF) and Cheniere Energy Partners, L.P. (CQP). Click either name above to swap in a different company.
Cheniere Energy Partners, L.P. is the larger business by last-quarter revenue ($2.9B vs $1.9B, roughly 1.6× CF Industries). Cheniere Energy Partners, L.P. runs the higher net margin — 44.2% vs 26.4%, a 17.8% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs 18.3%). Cheniere Energy Partners, L.P. produced more free cash flow last quarter ($864.0M vs $313.0M). Over the past eight quarters, CF Industries's revenue compounded faster (12.8% CAGR vs 12.6%).
CF Industries Holdings, Inc. is an American manufacturer and distributor of agricultural fertilizers, including ammonia, urea, and ammonium nitrate products. The company is based in Northbrook, Illinois, a suburb of Chicago, and was founded in 1946 as the Central Farmers Fertilizer Company. For its first 56 years, it was a federation of regional agricultural supply cooperatives. CF then demutualized, and became a publicly traded company.
Total revenue of oil and gas companies is listed in billions of U.S. dollars. Total revenue is usually self-reported by companies, and often reported by neutral, unbiased, reliable publications. Reported data may be subsequently revised or restated due to a wide range of issues such as exchange rates, contract settlements, or mid-year discontinuation of products or services. Fiscal years are for January 1 to December 31, except where noted. Empty cells indicate that no data for that year has ...
CF vs CQP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $2.9B |
| Net Profit | $495.0M | $1.3B |
| Gross Margin | 40.9% | — |
| Operating Margin | 33.0% | 50.5% |
| Net Margin | 26.4% | 44.2% |
| Revenue YoY | 22.8% | 18.3% |
| Net Profit YoY | 26.3% | 106.6% |
| EPS (diluted) | $2.56 | — |
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 | $1.9B | $2.9B | ||
| Q3 25 | $1.7B | $2.4B | ||
| Q2 25 | $1.9B | $2.5B | ||
| Q1 25 | $1.7B | $3.0B | ||
| Q4 24 | $1.5B | $2.5B | ||
| Q3 24 | $1.4B | $2.1B | ||
| Q2 24 | $1.6B | $1.9B | ||
| Q1 24 | $1.5B | $2.3B |
| Q4 25 | $495.0M | $1.3B | ||
| Q3 25 | $460.0M | $506.0M | ||
| Q2 25 | $492.0M | $553.0M | ||
| Q1 25 | $351.0M | $641.0M | ||
| Q4 24 | $392.0M | $623.0M | ||
| Q3 24 | $341.0M | $635.0M | ||
| Q2 24 | $506.0M | $570.0M | ||
| Q1 24 | $238.0M | $682.0M |
| Q4 25 | 40.9% | — | ||
| Q3 25 | 38.1% | — | ||
| Q2 25 | 39.9% | — | ||
| Q1 25 | 34.4% | — | ||
| Q4 24 | 34.4% | — | ||
| Q3 24 | 32.4% | — | ||
| Q2 24 | 43.2% | — | ||
| Q1 24 | 27.8% | — |
| Q4 25 | 33.0% | 50.5% | ||
| Q3 25 | 35.0% | 29.0% | ||
| Q2 25 | 34.3% | 29.1% | ||
| Q1 25 | 27.4% | 27.6% | ||
| Q4 24 | 28.9% | 33.0% | ||
| Q3 24 | 26.6% | 40.2% | ||
| Q2 24 | 40.6% | 40.4% | ||
| Q1 24 | 20.6% | 38.1% |
| Q4 25 | 26.4% | 44.2% | ||
| Q3 25 | 27.7% | 21.0% | ||
| Q2 25 | 26.0% | 22.5% | ||
| Q1 25 | 21.1% | 21.4% | ||
| Q4 24 | 25.7% | 25.3% | ||
| Q3 24 | 24.9% | 30.9% | ||
| Q2 24 | 32.2% | 30.1% | ||
| Q1 24 | 16.2% | 29.7% |
| Q4 25 | $2.56 | — | ||
| Q3 25 | $2.19 | — | ||
| Q2 25 | $2.37 | — | ||
| Q1 25 | $1.85 | — | ||
| Q4 24 | $1.86 | — | ||
| Q3 24 | $1.55 | — | ||
| Q2 24 | $2.30 | — | ||
| Q1 24 | $1.03 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $182.0M |
| Total DebtLower is stronger | $3.2B | $14.2B |
| Stockholders' EquityBook value | $4.8B | — |
| Total Assets | $14.1B | $17.4B |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $182.0M | ||
| Q3 25 | — | $121.0M | ||
| Q2 25 | — | $108.0M | ||
| Q1 25 | — | $94.0M | ||
| Q4 24 | — | $270.0M | ||
| Q3 24 | — | $331.0M | ||
| Q2 24 | — | $351.0M | ||
| Q1 24 | — | $333.0M |
| Q4 25 | $3.2B | $14.2B | ||
| Q3 25 | $3.0B | $14.2B | ||
| Q2 25 | $3.0B | $14.2B | ||
| Q1 25 | $3.0B | $14.7B | ||
| Q4 24 | $3.0B | $14.8B | ||
| Q3 24 | $3.0B | $14.8B | ||
| Q2 24 | $3.0B | $14.8B | ||
| Q1 24 | $3.0B | $13.6B |
| Q4 25 | $4.8B | — | ||
| Q3 25 | $4.8B | — | ||
| Q2 25 | $5.0B | — | ||
| Q1 25 | $4.8B | — | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $5.2B | — | ||
| Q2 24 | $5.5B | — | ||
| Q1 24 | $5.4B | — |
| Q4 25 | $14.1B | $17.4B | ||
| Q3 25 | $14.2B | $16.8B | ||
| Q2 25 | $13.8B | $16.9B | ||
| Q1 25 | $13.3B | $17.1B | ||
| Q4 24 | $13.5B | $17.5B | ||
| Q3 24 | $13.8B | $17.4B | ||
| Q2 24 | $13.8B | $17.5B | ||
| Q1 24 | $13.9B | $17.5B |
| Q4 25 | 0.66× | — | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.60× | — | ||
| Q3 24 | 0.57× | — | ||
| Q2 24 | 0.54× | — | ||
| Q1 24 | 0.55× | — |
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 | $539.0M | $887.0M |
| Free Cash FlowOCF − Capex | $313.0M | $864.0M |
| FCF MarginFCF / Revenue | 16.7% | 29.7% |
| Capex IntensityCapex / Revenue | 12.1% | 0.8% |
| Cash ConversionOCF / Net Profit | 1.09× | 0.69× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $887.0M | ||
| Q3 25 | $1.1B | $658.0M | ||
| Q2 25 | $563.0M | $558.0M | ||
| Q1 25 | $586.0M | $665.0M | ||
| Q4 24 | $420.0M | $876.0M | ||
| Q3 24 | $931.0M | $691.0M | ||
| Q2 24 | $475.0M | $732.0M | ||
| Q1 24 | $445.0M | $669.0M |
| Q4 25 | $313.0M | $864.0M | ||
| Q3 25 | $717.0M | $610.0M | ||
| Q2 25 | $318.0M | $490.0M | ||
| Q1 25 | $454.0M | $605.0M | ||
| Q4 24 | $223.0M | $827.0M | ||
| Q3 24 | $792.0M | $652.0M | ||
| Q2 24 | $391.0M | $702.0M | ||
| Q1 24 | $347.0M | $633.0M |
| Q4 25 | 16.7% | 29.7% | ||
| Q3 25 | 43.2% | 25.4% | ||
| Q2 25 | 16.8% | 20.0% | ||
| Q1 25 | 27.3% | 20.2% | ||
| Q4 24 | 14.6% | 33.6% | ||
| Q3 24 | 57.8% | 31.7% | ||
| Q2 24 | 24.9% | 37.1% | ||
| Q1 24 | 23.6% | 27.6% |
| Q4 25 | 12.1% | 0.8% | ||
| Q3 25 | 20.9% | 2.0% | ||
| Q2 25 | 13.0% | 2.8% | ||
| Q1 25 | 7.9% | 2.0% | ||
| Q4 24 | 12.9% | 2.0% | ||
| Q3 24 | 10.1% | 1.9% | ||
| Q2 24 | 5.3% | 1.6% | ||
| Q1 24 | 6.7% | 1.6% |
| Q4 25 | 1.09× | 0.69× | ||
| Q3 25 | 2.31× | 1.30× | ||
| Q2 25 | 1.14× | 1.01× | ||
| Q1 25 | 1.67× | 1.04× | ||
| Q4 24 | 1.07× | 1.41× | ||
| Q3 24 | 2.73× | 1.09× | ||
| Q2 24 | 0.94× | 1.28× | ||
| Q1 24 | 1.87× | 0.98× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CF
| Ammonia | $591.0M | 32% |
| UAN | $493.0M | 26% |
| Urea | $372.0M | 20% |
| Other | $244.0M | 13% |
| Other Products | $147.0M | 8% |
| Ammonium Nitrate Segment | $25.0M | 1% |
CQP
| Liquefied Natural Gas | $2.9B | 98% |
| Regasification Service | $34.0M | 1% |
| Other | $17.0M | 1% |
