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Side-by-side financial comparison of CF Industries (CF) and Dexcom (DXCM). Click either name above to swap in a different company.
CF Industries is the larger business by last-quarter revenue ($1.9B vs $1.3B, roughly 1.5× Dexcom). CF Industries runs the higher net margin — 26.4% vs 21.2%, a 5.2% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs 21.6%). Over the past eight quarters, CF Industries's revenue compounded faster (12.8% CAGR vs 12.0%).
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.
Dexcom, Inc. is an American multinational healthcare company that develops, manufactures, produces and distributes a line of continuous glucose monitoring (CGM) systems for diabetes management. It operates internationally with global headquarters and R&D center in San Diego, California, U.S.A. and manufacturing facilities in Mesa, Arizona, U.S.A.; Batu Kawan, Malaysia and Athenry, County Galway, Ireland.
CF vs DXCM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.3B |
| Net Profit | $495.0M | $267.3M |
| Gross Margin | 40.9% | 62.9% |
| Operating Margin | 33.0% | 25.6% |
| Net Margin | 26.4% | 21.2% |
| Revenue YoY | 22.8% | 21.6% |
| Net Profit YoY | 26.3% | 153.6% |
| EPS (diluted) | $2.56 | $0.67 |
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 | — | $1.3B | ||
| Q4 25 | $1.9B | $1.3B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.7B | $1.0B | ||
| Q4 24 | $1.5B | $1.1B | ||
| Q3 24 | $1.4B | $994.2M | ||
| Q2 24 | $1.6B | $1.0B |
| Q1 26 | — | $267.3M | ||
| Q4 25 | $495.0M | $267.3M | ||
| Q3 25 | $460.0M | $283.8M | ||
| Q2 25 | $492.0M | $179.8M | ||
| Q1 25 | $351.0M | $105.4M | ||
| Q4 24 | $392.0M | $151.7M | ||
| Q3 24 | $341.0M | $134.6M | ||
| Q2 24 | $506.0M | $143.5M |
| Q1 26 | — | 62.9% | ||
| Q4 25 | 40.9% | 62.9% | ||
| Q3 25 | 38.1% | 60.5% | ||
| Q2 25 | 39.9% | 59.5% | ||
| Q1 25 | 34.4% | 56.9% | ||
| Q4 24 | 34.4% | 58.9% | ||
| Q3 24 | 32.4% | 59.7% | ||
| Q2 24 | 43.2% | 62.4% |
| Q1 26 | — | 25.6% | ||
| Q4 25 | 33.0% | 25.6% | ||
| Q3 25 | 35.0% | 20.1% | ||
| Q2 25 | 34.3% | 18.4% | ||
| Q1 25 | 27.4% | 12.9% | ||
| Q4 24 | 28.9% | 17.0% | ||
| Q3 24 | 26.6% | 15.3% | ||
| Q2 24 | 40.6% | 15.7% |
| Q1 26 | — | 21.2% | ||
| Q4 25 | 26.4% | 21.2% | ||
| Q3 25 | 27.7% | 23.5% | ||
| Q2 25 | 26.0% | 15.5% | ||
| Q1 25 | 21.1% | 10.2% | ||
| Q4 24 | 25.7% | 13.6% | ||
| Q3 24 | 24.9% | 13.5% | ||
| Q2 24 | 32.2% | 14.3% |
| Q1 26 | — | $0.67 | ||
| Q4 25 | $2.56 | $0.67 | ||
| Q3 25 | $2.19 | $0.70 | ||
| Q2 25 | $2.37 | $0.45 | ||
| Q1 25 | $1.85 | $0.27 | ||
| Q4 24 | $1.86 | $0.37 | ||
| Q3 24 | $1.55 | $0.34 | ||
| Q2 24 | $2.30 | $0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $917.7M |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $4.8B | $2.7B |
| Total Assets | $14.1B | $6.3B |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $917.7M | ||
| Q4 25 | — | $917.7M | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $904.9M | ||
| Q4 24 | — | $606.1M | ||
| Q3 24 | — | $621.2M | ||
| Q2 24 | — | $939.2M |
| Q1 26 | — | — | ||
| 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 26 | — | $2.7B | ||
| Q4 25 | $4.8B | $2.7B | ||
| Q3 25 | $4.8B | $2.7B | ||
| Q2 25 | $5.0B | $2.6B | ||
| Q1 25 | $4.8B | $2.3B | ||
| Q4 24 | $5.0B | $2.1B | ||
| Q3 24 | $5.2B | $2.0B | ||
| Q2 24 | $5.5B | $2.4B |
| Q1 26 | — | $6.3B | ||
| Q4 25 | $14.1B | $6.3B | ||
| Q3 25 | $14.2B | $7.5B | ||
| Q2 25 | $13.8B | $7.3B | ||
| Q1 25 | $13.3B | $6.8B | ||
| Q4 24 | $13.5B | $6.5B | ||
| Q3 24 | $13.8B | $6.4B | ||
| Q2 24 | $13.8B | $6.8B |
| Q1 26 | — | — | ||
| 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× | — |
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 | $294.0M | ||
| Q3 25 | $1.1B | $659.9M | ||
| Q2 25 | $563.0M | $303.0M | ||
| Q1 25 | $586.0M | $183.8M | ||
| Q4 24 | $420.0M | $301.4M | ||
| Q3 24 | $931.0M | $199.5M | ||
| Q2 24 | $475.0M | $279.4M |
| Q1 26 | — | — | ||
| Q4 25 | $313.0M | $192.1M | ||
| Q3 25 | $717.0M | $579.4M | ||
| Q2 25 | $318.0M | $208.9M | ||
| Q1 25 | $454.0M | $96.8M | ||
| Q4 24 | $223.0M | $176.8M | ||
| Q3 24 | $792.0M | $88.3M | ||
| Q2 24 | $391.0M | $213.3M |
| Q1 26 | — | — | ||
| Q4 25 | 16.7% | 15.3% | ||
| Q3 25 | 43.2% | 47.9% | ||
| Q2 25 | 16.8% | 18.1% | ||
| Q1 25 | 27.3% | 9.3% | ||
| Q4 24 | 14.6% | 15.9% | ||
| Q3 24 | 57.8% | 8.9% | ||
| Q2 24 | 24.9% | 21.2% |
| Q1 26 | — | — | ||
| Q4 25 | 12.1% | 8.1% | ||
| Q3 25 | 20.9% | 6.7% | ||
| Q2 25 | 13.0% | 8.1% | ||
| Q1 25 | 7.9% | 8.4% | ||
| Q4 24 | 12.9% | 11.2% | ||
| Q3 24 | 10.1% | 11.2% | ||
| Q2 24 | 5.3% | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.09× | 1.10× | ||
| Q3 25 | 2.31× | 2.33× | ||
| Q2 25 | 1.14× | 1.69× | ||
| Q1 25 | 1.67× | 1.74× | ||
| Q4 24 | 1.07× | 1.99× | ||
| Q3 24 | 2.73× | 1.48× | ||
| Q2 24 | 0.94× | 1.95× |
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% |
DXCM
Segment breakdown not available.
