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Side-by-side financial comparison of CF Industries (CF) and Consolidated Edison (ED). Click either name above to swap in a different company.
Consolidated Edison is the larger business by last-quarter revenue ($4.0B vs $2.0B, roughly 2.0× CF Industries). CF Industries runs the higher net margin — 31.0% vs 7.5%, a 23.5% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (19.4% vs 8.2%). Over the past eight quarters, CF Industries's revenue compounded faster (12.4% CAGR vs -3.7%).
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.
Consolidated Edison, Inc., commonly known as Con Edison or ConEd, is an energy company based in New York City. It is one of the largest investor-owned energy companies in the United States, with approximately $15.26 billion in annual revenues as of 2024, and over $70 billion in assets. The company provides a wide range of energy-related products and services to its customers through its subsidiaries:Consolidated Edison Company of New York, Inc.
CF vs ED — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $4.0B |
| Net Profit | $615.0M | $298.0M |
| Gross Margin | 37.6% | — |
| Operating Margin | 43.5% | 12.3% |
| Net Margin | 31.0% | 7.5% |
| Revenue YoY | 19.4% | 8.2% |
| Net Profit YoY | 97.1% | -3.9% |
| EPS (diluted) | $3.98 | $0.81 |
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 | $2.0B | — | ||
| Q4 25 | $1.9B | $4.0B | ||
| Q3 25 | $1.7B | $4.6B | ||
| Q2 25 | $1.9B | $3.6B | ||
| Q1 25 | $1.7B | $4.9B | ||
| Q4 24 | $1.5B | $3.7B | ||
| Q3 24 | $1.4B | $4.2B | ||
| Q2 24 | $1.6B | $3.3B |
| Q1 26 | $615.0M | — | ||
| Q4 25 | $495.0M | $298.0M | ||
| Q3 25 | $460.0M | $688.0M | ||
| Q2 25 | $492.0M | $246.0M | ||
| Q1 25 | $351.0M | $791.0M | ||
| Q4 24 | $392.0M | $310.0M | ||
| Q3 24 | $341.0M | $588.0M | ||
| Q2 24 | $506.0M | $202.0M |
| Q1 26 | 37.6% | — | ||
| 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 | 43.5% | — | ||
| Q4 25 | 33.0% | 12.3% | ||
| Q3 25 | 35.0% | 21.2% | ||
| Q2 25 | 34.3% | 9.8% | ||
| Q1 25 | 27.4% | 23.0% | ||
| Q4 24 | 28.9% | 13.0% | ||
| Q3 24 | 26.6% | 20.4% | ||
| Q2 24 | 40.6% | 9.7% |
| Q1 26 | 31.0% | — | ||
| Q4 25 | 26.4% | 7.5% | ||
| Q3 25 | 27.7% | 15.1% | ||
| Q2 25 | 26.0% | 6.8% | ||
| Q1 25 | 21.1% | 16.2% | ||
| Q4 24 | 25.7% | 8.5% | ||
| Q3 24 | 24.9% | 13.9% | ||
| Q2 24 | 32.2% | 6.1% |
| Q1 26 | $3.98 | — | ||
| Q4 25 | $2.56 | $0.81 | ||
| Q3 25 | $2.19 | $1.90 | ||
| Q2 25 | $2.37 | $0.68 | ||
| Q1 25 | $1.85 | $2.25 | ||
| Q4 24 | $1.86 | $0.89 | ||
| Q3 24 | $1.55 | $1.69 | ||
| Q2 24 | $2.30 | $0.58 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.6B |
| Total DebtLower is stronger | $3.2B | $25.8B |
| Stockholders' EquityBook value | $5.3B | $24.2B |
| Total Assets | $14.6B | $74.6B |
| Debt / EquityLower = less leverage | 0.60× | 1.07× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $181.0M | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $360.0M | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $93.0M | ||
| Q2 24 | — | $1.5B |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $25.8B | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | $24.7B | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | — |
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | $24.2B | ||
| Q3 25 | $4.8B | $24.2B | ||
| Q2 25 | $5.0B | $23.8B | ||
| Q1 25 | $4.8B | $23.8B | ||
| Q4 24 | $5.0B | $22.0B | ||
| Q3 24 | $5.2B | $21.9B | ||
| Q2 24 | $5.5B | $21.6B |
| Q1 26 | $14.6B | — | ||
| Q4 25 | $14.1B | $74.6B | ||
| Q3 25 | $14.2B | $71.8B | ||
| Q2 25 | $13.8B | $71.5B | ||
| Q1 25 | $13.3B | $70.7B | ||
| Q4 24 | $13.5B | $70.6B | ||
| Q3 24 | $13.8B | $68.6B | ||
| Q2 24 | $13.8B | $67.9B |
| Q1 26 | 0.60× | — | ||
| Q4 25 | 0.66× | 1.07× | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.60× | 1.13× | ||
| 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 | $496.0M | $1.5B |
| Free Cash FlowOCF − Capex | $1.7B | — |
| FCF MarginFCF / Revenue | 83.2% | — |
| Capex IntensityCapex / Revenue | 11.2% | — |
| Cash ConversionOCF / Net Profit | 0.81× | 4.97× |
| TTM Free Cash FlowTrailing 4 quarters | $3.0B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $496.0M | — | ||
| Q4 25 | $539.0M | $1.5B | ||
| Q3 25 | $1.1B | $504.0M | ||
| Q2 25 | $563.0M | $2.0B | ||
| Q1 25 | $586.0M | $837.0M | ||
| Q4 24 | $420.0M | $1.3B | ||
| Q3 24 | $931.0M | $392.0M | ||
| Q2 24 | $475.0M | $1.3B |
| Q1 26 | $1.7B | — | ||
| Q4 25 | $313.0M | — | ||
| Q3 25 | $717.0M | — | ||
| Q2 25 | $318.0M | — | ||
| Q1 25 | $454.0M | — | ||
| Q4 24 | $223.0M | — | ||
| Q3 24 | $792.0M | — | ||
| Q2 24 | $391.0M | — |
| Q1 26 | 83.2% | — | ||
| Q4 25 | 16.7% | — | ||
| Q3 25 | 43.2% | — | ||
| Q2 25 | 16.8% | — | ||
| Q1 25 | 27.3% | — | ||
| Q4 24 | 14.6% | — | ||
| Q3 24 | 57.8% | — | ||
| Q2 24 | 24.9% | — |
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.1% | — | ||
| Q3 25 | 20.9% | — | ||
| Q2 25 | 13.0% | — | ||
| Q1 25 | 7.9% | — | ||
| Q4 24 | 12.9% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 5.3% | — |
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.09× | 4.97× | ||
| Q3 25 | 2.31× | 0.73× | ||
| Q2 25 | 1.14× | 8.04× | ||
| Q1 25 | 1.67× | 1.06× | ||
| Q4 24 | 1.07× | 4.23× | ||
| Q3 24 | 2.73× | 0.67× | ||
| Q2 24 | 0.94× | 6.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CF
| EBITDA | $1.0B | 51% |
| Other | $975.0M | 49% |
| Loss on foreign currency transactions | $3.0M | 0% |
ED
| Electricity | $2.9B | 73% |
| Oil And Gas Purchased | $923.0M | 23% |
| Steam Plant | $189.0M | 5% |
| Con Edison Transmission | $1.0M | 0% |
