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Side-by-side financial comparison of CF Industries (CF) and DaVita (DVA). Click either name above to swap in a different company.
DaVita is the larger business by last-quarter revenue ($3.6B vs $1.9B, roughly 1.9× CF Industries). CF Industries runs the higher net margin — 26.4% vs 6.5%, a 20.0% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs 12.3%). Over the past eight quarters, CF Industries's revenue compounded faster (12.8% CAGR vs 6.6%).
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.
DaVita Inc. is an American company that provides kidney dialysis services through a network of 2,675 outpatient centers in the United States, serving 200,800 patients, and 367 outpatient centers in 11 other countries serving 49,400 patients. The company primarily treats end-stage renal disease (ESRD), which requires patients to undergo kidney dialysis, often 3 times per week for the rest of their lives unless they receive a kidney transplant via organ donation.
CF vs DVA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $3.6B |
| Net Profit | $495.0M | $234.2M |
| Gross Margin | 40.9% | — |
| Operating Margin | 33.0% | 15.5% |
| Net Margin | 26.4% | 6.5% |
| Revenue YoY | 22.8% | 12.3% |
| Net Profit YoY | 26.3% | 43.8% |
| EPS (diluted) | $2.56 | $3.22 |
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.
| Q1 26 | — | $3.6B | ||
| Q4 25 | $1.9B | $3.6B | ||
| Q3 25 | $1.7B | $3.4B | ||
| Q2 25 | $1.9B | $3.4B | ||
| Q1 25 | $1.7B | $3.2B | ||
| Q4 24 | $1.5B | $3.3B | ||
| Q3 24 | $1.4B | $3.3B | ||
| Q2 24 | $1.6B | $3.2B |
| Q1 26 | — | $234.2M | ||
| Q4 25 | $495.0M | $234.2M | ||
| Q3 25 | $460.0M | $150.3M | ||
| Q2 25 | $492.0M | $199.3M | ||
| Q1 25 | $351.0M | $162.9M | ||
| Q4 24 | $392.0M | $259.3M | ||
| Q3 24 | $341.0M | $214.7M | ||
| Q2 24 | $506.0M | $222.7M |
| Q1 26 | — | — | ||
| 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 26 | — | 15.5% | ||
| Q4 25 | 33.0% | 15.5% | ||
| Q3 25 | 35.0% | 14.8% | ||
| Q2 25 | 34.3% | 15.9% | ||
| Q1 25 | 27.4% | 13.6% | ||
| Q4 24 | 28.9% | 17.2% | ||
| Q3 24 | 26.6% | 16.4% | ||
| Q2 24 | 40.6% | 15.9% |
| Q1 26 | — | 6.5% | ||
| Q4 25 | 26.4% | 6.5% | ||
| Q3 25 | 27.7% | 4.4% | ||
| Q2 25 | 26.0% | 5.9% | ||
| Q1 25 | 21.1% | 5.1% | ||
| Q4 24 | 25.7% | 7.9% | ||
| Q3 24 | 24.9% | 6.6% | ||
| Q2 24 | 32.2% | 7.0% |
| Q1 26 | — | $3.22 | ||
| Q4 25 | $2.56 | $3.22 | ||
| Q3 25 | $2.19 | $2.04 | ||
| Q2 25 | $2.37 | $2.58 | ||
| Q1 25 | $1.85 | $2.00 | ||
| Q4 24 | $1.86 | $3.08 | ||
| Q3 24 | $1.55 | $2.50 | ||
| Q2 24 | $2.30 | $2.50 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $700.7M |
| Total DebtLower is stronger | $3.2B | $10.2B |
| Stockholders' EquityBook value | $4.8B | $-651.1M |
| Total Assets | $14.1B | $17.5B |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $700.7M | ||
| Q4 25 | — | $700.7M | ||
| Q3 25 | — | $736.5M | ||
| Q2 25 | — | $739.4M | ||
| Q1 25 | — | $511.9M | ||
| Q4 24 | — | $846.0M | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $437.2M |
| Q1 26 | — | $10.2B | ||
| Q4 25 | $3.2B | $10.2B | ||
| Q3 25 | $3.0B | $10.2B | ||
| Q2 25 | $3.0B | $10.1B | ||
| Q1 25 | $3.0B | $9.6B | ||
| Q4 24 | $3.0B | $9.2B | ||
| Q3 24 | $3.0B | $9.3B | ||
| Q2 24 | $3.0B | $8.5B |
| Q1 26 | — | $-651.1M | ||
| Q4 25 | $4.8B | $-651.1M | ||
| Q3 25 | $4.8B | $-571.9M | ||
| Q2 25 | $5.0B | $-369.6M | ||
| Q1 25 | $4.8B | $-267.1M | ||
| Q4 24 | $5.0B | $121.1M | ||
| Q3 24 | $5.2B | $386.7M | ||
| Q2 24 | $5.5B | $632.9M |
| Q1 26 | — | $17.5B | ||
| Q4 25 | $14.1B | $17.5B | ||
| Q3 25 | $14.2B | $17.6B | ||
| Q2 25 | $13.8B | $17.5B | ||
| Q1 25 | $13.3B | $17.1B | ||
| Q4 24 | $13.5B | $17.3B | ||
| Q3 24 | $13.8B | $17.5B | ||
| Q2 24 | $13.8B | $17.0B |
| Q1 26 | — | — | ||
| Q4 25 | 0.66× | — | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.60× | 75.76× | ||
| Q3 24 | 0.57× | 23.95× | ||
| Q2 24 | 0.54× | 13.35× |
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 | — |
| Free Cash FlowOCF − Capex | $313.0M | — |
| FCF MarginFCF / Revenue | 16.7% | — |
| Capex IntensityCapex / Revenue | 12.1% | — |
| Cash ConversionOCF / Net Profit | 1.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $539.0M | $540.7M | ||
| Q3 25 | $1.1B | $841.5M | ||
| Q2 25 | $563.0M | $324.2M | ||
| Q1 25 | $586.0M | $180.0M | ||
| Q4 24 | $420.0M | $547.6M | ||
| Q3 24 | $931.0M | $810.4M | ||
| Q2 24 | $475.0M | $798.8M |
| Q1 26 | — | — | ||
| Q4 25 | $313.0M | $395.3M | ||
| Q3 25 | $717.0M | $675.4M | ||
| Q2 25 | $318.0M | $203.1M | ||
| Q1 25 | $454.0M | $36.8M | ||
| Q4 24 | $223.0M | $377.0M | ||
| Q3 24 | $792.0M | $671.4M | ||
| Q2 24 | $391.0M | $674.1M |
| Q1 26 | — | — | ||
| Q4 25 | 16.7% | 10.9% | ||
| Q3 25 | 43.2% | 19.7% | ||
| Q2 25 | 16.8% | 6.0% | ||
| Q1 25 | 27.3% | 1.1% | ||
| Q4 24 | 14.6% | 11.4% | ||
| Q3 24 | 57.8% | 20.6% | ||
| Q2 24 | 24.9% | 21.2% |
| Q1 26 | — | — | ||
| Q4 25 | 12.1% | 4.0% | ||
| Q3 25 | 20.9% | 4.9% | ||
| Q2 25 | 13.0% | 3.6% | ||
| Q1 25 | 7.9% | 4.4% | ||
| Q4 24 | 12.9% | 5.2% | ||
| Q3 24 | 10.1% | 4.3% | ||
| Q2 24 | 5.3% | 3.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.09× | 2.31× | ||
| Q3 25 | 2.31× | 5.60× | ||
| Q2 25 | 1.14× | 1.63× | ||
| Q1 25 | 1.67× | 1.10× | ||
| Q4 24 | 1.07× | 2.11× | ||
| Q3 24 | 2.73× | 3.77× | ||
| Q2 24 | 0.94× | 3.59× |
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% |
DVA
Segment breakdown not available.
