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Side-by-side financial comparison of CF Industries (CF) and DraftKings Inc. (DKNG). Click either name above to swap in a different company.
DraftKings Inc. is the larger business by last-quarter revenue ($2.0B vs $1.9B, roughly 1.1× CF Industries). CF Industries runs the higher net margin — 26.4% vs 6.9%, a 19.6% gap on every dollar of revenue. On growth, DraftKings Inc. posted the faster year-over-year revenue change (42.8% vs 22.8%). DraftKings Inc. produced more free cash flow last quarter ($316.5M vs $313.0M). Over the past eight quarters, DraftKings Inc.'s revenue compounded faster (30.1% 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.
DraftKings Inc. is an American gambling company based in Boston, Massachusetts. It offers sportsbook and daily fantasy sports (DFS) services.
CF vs DKNG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $2.0B |
| Net Profit | $495.0M | $136.4M |
| Gross Margin | 40.9% | 46.0% |
| Operating Margin | 33.0% | 7.6% |
| Net Margin | 26.4% | 6.9% |
| Revenue YoY | 22.8% | 42.8% |
| Net Profit YoY | 26.3% | 201.2% |
| EPS (diluted) | $2.56 | $0.28 |
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 | $2.0B | ||
| Q3 25 | $1.7B | $1.1B | ||
| Q2 25 | $1.9B | $1.5B | ||
| Q1 25 | $1.7B | $1.4B | ||
| Q4 24 | $1.5B | $1.4B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.6B | $1.1B | ||
| Q1 24 | $1.5B | $1.2B |
| Q4 25 | $495.0M | $136.4M | ||
| Q3 25 | $460.0M | $-256.8M | ||
| Q2 25 | $492.0M | $157.9M | ||
| Q1 25 | $351.0M | $-33.9M | ||
| Q4 24 | $392.0M | $-134.9M | ||
| Q3 24 | $341.0M | $-293.7M | ||
| Q2 24 | $506.0M | $63.8M | ||
| Q1 24 | $238.0M | $-142.6M |
| Q4 25 | 40.9% | 46.0% | ||
| Q3 25 | 38.1% | 31.5% | ||
| Q2 25 | 39.9% | 43.5% | ||
| Q1 25 | 34.4% | 40.1% | ||
| Q4 24 | 34.4% | 40.1% | ||
| Q3 24 | 32.4% | 32.2% | ||
| Q2 24 | 43.2% | 39.9% | ||
| Q1 24 | 27.8% | 39.6% |
| Q4 25 | 33.0% | 7.6% | ||
| Q3 25 | 35.0% | -23.8% | ||
| Q2 25 | 34.3% | 10.0% | ||
| Q1 25 | 27.4% | -3.3% | ||
| Q4 24 | 28.9% | -10.0% | ||
| Q3 24 | 26.6% | -27.3% | ||
| Q2 24 | 40.6% | -2.9% | ||
| Q1 24 | 20.6% | -11.8% |
| Q4 25 | 26.4% | 6.9% | ||
| Q3 25 | 27.7% | -22.4% | ||
| Q2 25 | 26.0% | 10.4% | ||
| Q1 25 | 21.1% | -2.4% | ||
| Q4 24 | 25.7% | -9.7% | ||
| Q3 24 | 24.9% | -26.8% | ||
| Q2 24 | 32.2% | 5.8% | ||
| Q1 24 | 16.2% | -12.1% |
| Q4 25 | $2.56 | $0.28 | ||
| Q3 25 | $2.19 | $-0.52 | ||
| Q2 25 | $2.37 | $0.30 | ||
| Q1 25 | $1.85 | $-0.07 | ||
| Q4 24 | $1.86 | $-0.25 | ||
| Q3 24 | $1.55 | $-0.60 | ||
| Q2 24 | $2.30 | $0.10 | ||
| Q1 24 | $1.03 | $-0.30 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.1B |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $4.8B | $631.5M |
| Total Assets | $14.1B | $4.5B |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $788.3M | ||
| Q3 24 | — | $877.8M | ||
| Q2 24 | — | $815.9M | ||
| Q1 24 | — | $1.2B |
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $3.0B | — |
| Q4 25 | $4.8B | $631.5M | ||
| Q3 25 | $4.8B | $732.3M | ||
| Q2 25 | $5.0B | $1.0B | ||
| Q1 25 | $4.8B | $872.9M | ||
| Q4 24 | $5.0B | $1.0B | ||
| Q3 24 | $5.2B | $1.1B | ||
| Q2 24 | $5.5B | $1.3B | ||
| Q1 24 | $5.4B | $831.0M |
| Q4 25 | $14.1B | $4.5B | ||
| Q3 25 | $14.2B | $4.6B | ||
| Q2 25 | $13.8B | $4.5B | ||
| Q1 25 | $13.3B | $4.5B | ||
| Q4 24 | $13.5B | $4.3B | ||
| Q3 24 | $13.8B | $4.3B | ||
| Q2 24 | $13.8B | $4.2B | ||
| Q1 24 | $13.9B | $3.8B |
| 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 | $320.5M |
| Free Cash FlowOCF − Capex | $313.0M | $316.5M |
| FCF MarginFCF / Revenue | 16.7% | 15.9% |
| Capex IntensityCapex / Revenue | 12.1% | 0.2% |
| Cash ConversionOCF / Net Profit | 1.09× | 2.35× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $647.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $320.5M | ||
| Q3 25 | $1.1B | $287.5M | ||
| Q2 25 | $563.0M | $173.9M | ||
| Q1 25 | $586.0M | $-119.0M | ||
| Q4 24 | $420.0M | $325.2M | ||
| Q3 24 | $931.0M | $133.6M | ||
| Q2 24 | $475.0M | $29.4M | ||
| Q1 24 | $445.0M | $-70.4M |
| Q4 25 | $313.0M | $316.5M | ||
| Q3 25 | $717.0M | $283.0M | ||
| Q2 25 | $318.0M | $169.6M | ||
| Q1 25 | $454.0M | $-121.7M | ||
| Q4 24 | $223.0M | $323.2M | ||
| Q3 24 | $792.0M | $130.9M | ||
| Q2 24 | $391.0M | $27.0M | ||
| Q1 24 | $347.0M | $-73.4M |
| Q4 25 | 16.7% | 15.9% | ||
| Q3 25 | 43.2% | 24.7% | ||
| Q2 25 | 16.8% | 11.2% | ||
| Q1 25 | 27.3% | -8.6% | ||
| Q4 24 | 14.6% | 23.2% | ||
| Q3 24 | 57.8% | 11.9% | ||
| Q2 24 | 24.9% | 2.4% | ||
| Q1 24 | 23.6% | -6.2% |
| Q4 25 | 12.1% | 0.2% | ||
| Q3 25 | 20.9% | 0.4% | ||
| Q2 25 | 13.0% | 0.3% | ||
| Q1 25 | 7.9% | 0.2% | ||
| Q4 24 | 12.9% | 0.1% | ||
| Q3 24 | 10.1% | 0.2% | ||
| Q2 24 | 5.3% | 0.2% | ||
| Q1 24 | 6.7% | 0.3% |
| Q4 25 | 1.09× | 2.35× | ||
| Q3 25 | 2.31× | — | ||
| Q2 25 | 1.14× | 1.10× | ||
| Q1 25 | 1.67× | — | ||
| Q4 24 | 1.07× | — | ||
| Q3 24 | 2.73× | — | ||
| Q2 24 | 0.94× | 0.46× | ||
| Q1 24 | 1.87× | — |
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% |
DKNG
| Sportsbook | $1.4B | 68% |
| I Gaming | $500.2M | 25% |
| Other | $137.9M | 7% |
