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Side-by-side financial comparison of CF Industries (CF) and Dream Finders Homes, Inc. (DFH). Click either name above to swap in a different company.
CF Industries is the larger business by last-quarter revenue ($1.9B vs $1.2B, roughly 1.5× Dream Finders Homes, Inc.). CF Industries runs the higher net margin — 26.4% vs 4.8%, a 21.6% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs -22.3%). CF Industries produced more free cash flow last quarter ($313.0M vs $136.0M). Over the past eight quarters, Dream Finders Homes, Inc.'s revenue compounded faster (21.0% CAGR vs 12.8%).
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.
Dream Finders Homes, Inc. is a U.S. homebuilding firm that constructs and sells entry-level to luxury residential properties, including single-family homes and townhomes, across high-growth domestic markets. It also provides mortgage, title insurance and home warranty services for homebuyers.
CF vs DFH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.2B |
| Net Profit | $495.0M | $58.8M |
| Gross Margin | 40.9% | — |
| Operating Margin | 33.0% | 6.4% |
| Net Margin | 26.4% | 4.8% |
| Revenue YoY | 22.8% | -22.3% |
| Net Profit YoY | 26.3% | -54.9% |
| EPS (diluted) | $2.56 | $0.57 |
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 | $1.2B | ||
| Q3 25 | $1.7B | $969.8M | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.7B | $989.9M | ||
| Q4 24 | $1.5B | $1.6B | ||
| Q3 24 | $1.4B | $1.0B | ||
| Q2 24 | $1.6B | $1.1B | ||
| Q1 24 | $1.5B | $827.8M |
| Q4 25 | $495.0M | $58.8M | ||
| Q3 25 | $460.0M | $47.0M | ||
| Q2 25 | $492.0M | $56.6M | ||
| Q1 25 | $351.0M | $54.9M | ||
| Q4 24 | $392.0M | $130.5M | ||
| Q3 24 | $341.0M | $70.7M | ||
| Q2 24 | $506.0M | $80.9M | ||
| Q1 24 | $238.0M | $54.5M |
| 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% | 19.2% | ||
| Q1 24 | 27.8% | 18.0% |
| Q4 25 | 33.0% | 6.4% | ||
| Q3 25 | 35.0% | 6.3% | ||
| Q2 25 | 34.3% | 6.4% | ||
| Q1 25 | 27.4% | 7.2% | ||
| Q4 24 | 28.9% | 10.8% | ||
| Q3 24 | 26.6% | 9.2% | ||
| Q2 24 | 40.6% | 10.0% | ||
| Q1 24 | 20.6% | 8.6% |
| Q4 25 | 26.4% | 4.8% | ||
| Q3 25 | 27.7% | 4.8% | ||
| Q2 25 | 26.0% | 4.9% | ||
| Q1 25 | 21.1% | 5.5% | ||
| Q4 24 | 25.7% | 8.4% | ||
| Q3 24 | 24.9% | 7.0% | ||
| Q2 24 | 32.2% | 7.7% | ||
| Q1 24 | 16.2% | 6.6% |
| Q4 25 | $2.56 | $0.57 | ||
| Q3 25 | $2.19 | $0.47 | ||
| Q2 25 | $2.37 | $0.56 | ||
| Q1 25 | $1.85 | $0.54 | ||
| Q4 24 | $1.86 | $1.28 | ||
| Q3 24 | $1.55 | $0.70 | ||
| Q2 24 | $2.30 | $0.81 | ||
| Q1 24 | $1.03 | $0.55 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $234.8M |
| Total DebtLower is stronger | $3.2B | $1.6B |
| Stockholders' EquityBook value | $4.8B | $1.4B |
| Total Assets | $14.1B | $3.7B |
| Debt / EquityLower = less leverage | 0.66× | 1.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $234.8M | ||
| Q3 25 | — | $251.0M | ||
| Q2 25 | — | $210.3M | ||
| Q1 25 | — | $297.5M | ||
| Q4 24 | — | $274.4M | ||
| Q3 24 | — | $204.9M | ||
| Q2 24 | — | $274.8M | ||
| Q1 24 | — | $239.4M |
| Q4 25 | $3.2B | $1.6B | ||
| Q3 25 | $3.0B | $1.8B | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | $1.3B | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $3.0B | — |
| Q4 25 | $4.8B | $1.4B | ||
| Q3 25 | $4.8B | $1.4B | ||
| Q2 25 | $5.0B | $1.3B | ||
| Q1 25 | $4.8B | $1.3B | ||
| Q4 24 | $5.0B | $1.2B | ||
| Q3 24 | $5.2B | $1.1B | ||
| Q2 24 | $5.5B | $1.0B | ||
| Q1 24 | $5.4B | $968.7M |
| Q4 25 | $14.1B | $3.7B | ||
| Q3 25 | $14.2B | $3.8B | ||
| Q2 25 | $13.8B | $3.7B | ||
| Q1 25 | $13.3B | $3.5B | ||
| Q4 24 | $13.5B | $3.3B | ||
| Q3 24 | $13.8B | $3.3B | ||
| Q2 24 | $13.8B | $3.0B | ||
| Q1 24 | $13.9B | $2.7B |
| Q4 25 | 0.66× | 1.13× | ||
| Q3 25 | 0.61× | 1.29× | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.60× | 1.03× | ||
| 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 | $143.6M |
| Free Cash FlowOCF − Capex | $313.0M | $136.0M |
| FCF MarginFCF / Revenue | 16.7% | 11.2% |
| Capex IntensityCapex / Revenue | 12.1% | 0.6% |
| Cash ConversionOCF / Net Profit | 1.09× | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $-126.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $143.6M | ||
| Q3 25 | $1.1B | $-131.0M | ||
| Q2 25 | $563.0M | $-68.5M | ||
| Q1 25 | $586.0M | $-44.7M | ||
| Q4 24 | $420.0M | $306.5M | ||
| Q3 24 | $931.0M | $-205.0M | ||
| Q2 24 | $475.0M | $-110.6M | ||
| Q1 24 | $445.0M | $-247.5M |
| Q4 25 | $313.0M | $136.0M | ||
| Q3 25 | $717.0M | $-135.7M | ||
| Q2 25 | $318.0M | $-78.8M | ||
| Q1 25 | $454.0M | $-47.9M | ||
| Q4 24 | $223.0M | $302.6M | ||
| Q3 24 | $792.0M | $-222.5M | ||
| Q2 24 | $391.0M | $-112.4M | ||
| Q1 24 | $347.0M | $-249.6M |
| Q4 25 | 16.7% | 11.2% | ||
| Q3 25 | 43.2% | -14.0% | ||
| Q2 25 | 16.8% | -6.8% | ||
| Q1 25 | 27.3% | -4.8% | ||
| Q4 24 | 14.6% | 19.4% | ||
| Q3 24 | 57.8% | -22.1% | ||
| Q2 24 | 24.9% | -10.6% | ||
| Q1 24 | 23.6% | -30.2% |
| Q4 25 | 12.1% | 0.6% | ||
| Q3 25 | 20.9% | 0.5% | ||
| Q2 25 | 13.0% | 0.9% | ||
| Q1 25 | 7.9% | 0.3% | ||
| Q4 24 | 12.9% | 0.3% | ||
| Q3 24 | 10.1% | 1.7% | ||
| Q2 24 | 5.3% | 0.2% | ||
| Q1 24 | 6.7% | 0.3% |
| Q4 25 | 1.09× | 2.44× | ||
| Q3 25 | 2.31× | -2.79× | ||
| Q2 25 | 1.14× | -1.21× | ||
| Q1 25 | 1.67× | -0.81× | ||
| Q4 24 | 1.07× | 2.35× | ||
| Q3 24 | 2.73× | -2.90× | ||
| Q2 24 | 0.94× | -1.37× | ||
| Q1 24 | 1.87× | -4.54× |
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% |
DFH
| Midwest Segment | $454.2M | 37% |
| Southeast Segment | $397.5M | 33% |
| Mid Atlantic Segment | $307.3M | 25% |
| Financial Services Segment | $53.7M | 4% |
