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Side-by-side financial comparison of CF Industries (CF) and Cintas (CTAS). Click either name above to swap in a different company.
Cintas is the larger business by last-quarter revenue ($2.8B vs $1.9B, roughly 1.5× CF Industries). CF Industries runs the higher net margin — 26.4% vs 17.7%, a 8.8% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs 9.3%). Cintas produced more free cash flow last quarter ($425.0M vs $313.0M). Over the past eight quarters, CF Industries's revenue compounded faster (12.8% CAGR vs 7.9%).
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.
Cintas Corporation is an American corporation headquartered in Mason, Ohio, which provides a range of products and services to businesses including uniforms, mats, mops, cleaning and restroom supplies, first aid and safety products, fire extinguishers and testing, and safety courses. Cintas is a publicly held company traded on the Nasdaq Global Select Market under the symbol CTAS and is a component of the S&P 500 Index.
CF vs CTAS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $2.8B |
| Net Profit | $495.0M | $495.3M |
| Gross Margin | 40.9% | 50.4% |
| Operating Margin | 33.0% | 23.4% |
| Net Margin | 26.4% | 17.7% |
| Revenue YoY | 22.8% | 9.3% |
| Net Profit YoY | 26.3% | 10.4% |
| EPS (diluted) | $2.56 | $1.21 |
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 | $2.8B | ||
| Q3 25 | $1.7B | $2.7B | ||
| Q2 25 | $1.9B | $2.7B | ||
| Q1 25 | $1.7B | $2.6B | ||
| Q4 24 | $1.5B | $2.6B | ||
| Q3 24 | $1.4B | $2.5B | ||
| Q2 24 | $1.6B | $2.5B | ||
| Q1 24 | $1.5B | $2.4B |
| Q4 25 | $495.0M | $495.3M | ||
| Q3 25 | $460.0M | $491.1M | ||
| Q2 25 | $492.0M | $448.3M | ||
| Q1 25 | $351.0M | $463.5M | ||
| Q4 24 | $392.0M | $448.5M | ||
| Q3 24 | $341.0M | $452.0M | ||
| Q2 24 | $506.0M | $414.3M | ||
| Q1 24 | $238.0M | $397.6M |
| Q4 25 | 40.9% | 50.4% | ||
| Q3 25 | 38.1% | 50.3% | ||
| Q2 25 | 39.9% | 49.7% | ||
| Q1 25 | 34.4% | 50.6% | ||
| Q4 24 | 34.4% | 49.8% | ||
| Q3 24 | 32.4% | 50.1% | ||
| Q2 24 | 43.2% | — | ||
| Q1 24 | 27.8% | — |
| Q4 25 | 33.0% | 23.4% | ||
| Q3 25 | 35.0% | 22.7% | ||
| Q2 25 | 34.3% | 22.4% | ||
| Q1 25 | 27.4% | 23.4% | ||
| Q4 24 | 28.9% | 23.1% | ||
| Q3 24 | 26.6% | 22.4% | ||
| Q2 24 | 40.6% | 22.2% | ||
| Q1 24 | 20.6% | 21.6% |
| Q4 25 | 26.4% | 17.7% | ||
| Q3 25 | 27.7% | 18.1% | ||
| Q2 25 | 26.0% | 16.8% | ||
| Q1 25 | 21.1% | 17.8% | ||
| Q4 24 | 25.7% | 17.5% | ||
| Q3 24 | 24.9% | 18.1% | ||
| Q2 24 | 32.2% | 16.8% | ||
| Q1 24 | 16.2% | 16.5% |
| Q4 25 | $2.56 | $1.21 | ||
| Q3 25 | $2.19 | $1.20 | ||
| Q2 25 | $2.37 | $1.08 | ||
| Q1 25 | $1.85 | $1.13 | ||
| Q4 24 | $1.86 | $1.09 | ||
| Q3 24 | $1.55 | $1.10 | ||
| Q2 24 | $2.30 | $4.00 | ||
| Q1 24 | $1.03 | $3.84 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $200.8M |
| Total DebtLower is stronger | $3.2B | $2.4B |
| Stockholders' EquityBook value | $4.8B | $4.5B |
| Total Assets | $14.1B | $10.1B |
| Debt / EquityLower = less leverage | 0.66× | 0.54× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $200.8M | ||
| Q3 25 | — | $138.1M | ||
| Q2 25 | — | $264.0M | ||
| Q1 25 | — | $243.4M | ||
| Q4 24 | — | $122.4M | ||
| Q3 24 | — | $101.4M | ||
| Q2 24 | — | $342.0M | ||
| Q1 24 | — | $128.5M |
| Q4 25 | $3.2B | $2.4B | ||
| Q3 25 | $3.0B | $2.4B | ||
| Q2 25 | $3.0B | $2.4B | ||
| Q1 25 | $3.0B | $2.0B | ||
| Q4 24 | $3.0B | $2.0B | ||
| Q3 24 | $3.0B | $2.0B | ||
| Q2 24 | $3.0B | $2.0B | ||
| Q1 24 | $3.0B | $2.5B |
| Q4 25 | $4.8B | $4.5B | ||
| Q3 25 | $4.8B | $4.8B | ||
| Q2 25 | $5.0B | $4.7B | ||
| Q1 25 | $4.8B | $4.6B | ||
| Q4 24 | $5.0B | $4.3B | ||
| Q3 24 | $5.2B | $4.0B | ||
| Q2 24 | $5.5B | $4.3B | ||
| Q1 24 | $5.4B | $4.2B |
| Q4 25 | $14.1B | $10.1B | ||
| Q3 25 | $14.2B | $9.8B | ||
| Q2 25 | $13.8B | $9.8B | ||
| Q1 25 | $13.3B | $9.6B | ||
| Q4 24 | $13.5B | $9.4B | ||
| Q3 24 | $13.8B | $9.1B | ||
| Q2 24 | $13.8B | $9.2B | ||
| Q1 24 | $13.9B | $9.0B |
| Q4 25 | 0.66× | 0.54× | ||
| Q3 25 | 0.61× | 0.51× | ||
| Q2 25 | 0.60× | 0.52× | ||
| Q1 25 | 0.62× | 0.44× | ||
| Q4 24 | 0.60× | 0.47× | ||
| Q3 24 | 0.57× | 0.50× | ||
| Q2 24 | 0.54× | 0.47× | ||
| Q1 24 | 0.55× | 0.58× |
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 | $531.2M |
| Free Cash FlowOCF − Capex | $313.0M | $425.0M |
| FCF MarginFCF / Revenue | 16.7% | 15.2% |
| Capex IntensityCapex / Revenue | 12.1% | 3.8% |
| Cash ConversionOCF / Net Profit | 1.09× | 1.07× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $1.8B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $531.2M | ||
| Q3 25 | $1.1B | $414.5M | ||
| Q2 25 | $563.0M | $635.7M | ||
| Q1 25 | $586.0M | $622.0M | ||
| Q4 24 | $420.0M | $441.4M | ||
| Q3 24 | $931.0M | $466.7M | ||
| Q2 24 | $475.0M | $693.0M | ||
| Q1 24 | $445.0M | $657.1M |
| Q4 25 | $313.0M | $425.0M | ||
| Q3 25 | $717.0M | $312.5M | ||
| Q2 25 | $318.0M | $521.1M | ||
| Q1 25 | $454.0M | $522.1M | ||
| Q4 24 | $223.0M | $340.0M | ||
| Q3 24 | $792.0M | $373.8M | ||
| Q2 24 | $391.0M | $591.1M | ||
| Q1 24 | $347.0M | $550.1M |
| Q4 25 | 16.7% | 15.2% | ||
| Q3 25 | 43.2% | 11.5% | ||
| Q2 25 | 16.8% | 19.5% | ||
| Q1 25 | 27.3% | 20.0% | ||
| Q4 24 | 14.6% | 13.3% | ||
| Q3 24 | 57.8% | 14.9% | ||
| Q2 24 | 24.9% | 23.9% | ||
| Q1 24 | 23.6% | 22.9% |
| Q4 25 | 12.1% | 3.8% | ||
| Q3 25 | 20.9% | 3.8% | ||
| Q2 25 | 13.0% | 4.3% | ||
| Q1 25 | 7.9% | 3.8% | ||
| Q4 24 | 12.9% | 4.0% | ||
| Q3 24 | 10.1% | 3.7% | ||
| Q2 24 | 5.3% | 4.1% | ||
| Q1 24 | 6.7% | 4.4% |
| Q4 25 | 1.09× | 1.07× | ||
| Q3 25 | 2.31× | 0.84× | ||
| Q2 25 | 1.14× | 1.42× | ||
| Q1 25 | 1.67× | 1.34× | ||
| Q4 24 | 1.07× | 0.98× | ||
| Q3 24 | 2.73× | 1.03× | ||
| Q2 24 | 0.94× | 1.67× | ||
| Q1 24 | 1.87× | 1.65× |
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% |
CTAS
| Uniform Rental And Facility Services Segment | $2.2B | 77% |
| First Aid And Safety Services Segment | $342.2M | 12% |
| Fire Protection Services | $222.5M | 8% |
| Uniform Direct Sales | $79.8M | 3% |
