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Side-by-side financial comparison of CF Industries (CF) and Evergy (EVRG). 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 1.4× Evergy). CF Industries runs the higher net margin — 26.4% vs 6.5%, a 19.9% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs 5.3%). CF Industries produced more free cash flow last quarter ($313.0M vs $-530.5M). Over the past eight quarters, CF Industries's revenue compounded faster (12.8% CAGR vs 0.4%).
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.
Evergy, Inc. is an American investor-owned utility (IOU) with publicly traded stock with headquarters in Topeka, Kansas, and in Kansas City, Missouri. The company was formed from a merger of Westar Energy of Topeka and Great Plains Energy of Kansas City, parent company of Kansas City Power & Light. Evergy is the largest electric company in Kansas, serving more than 1.7 million residential, commercial and industrial customers in Kansas and Missouri.
CF vs EVRG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.3B |
| Net Profit | $495.0M | $84.3M |
| Gross Margin | 40.9% | — |
| Operating Margin | 33.0% | 18.5% |
| Net Margin | 26.4% | 6.5% |
| Revenue YoY | 22.8% | 5.3% |
| Net Profit YoY | 26.3% | 7.8% |
| EPS (diluted) | $2.56 | $0.35 |
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 | $1.3B | ||
| Q3 25 | $1.7B | $1.8B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $1.5B | $1.2B | ||
| Q3 24 | $1.4B | $1.8B | ||
| Q2 24 | $1.6B | $1.4B | ||
| Q1 24 | $1.5B | $1.3B |
| Q4 25 | $495.0M | $84.3M | ||
| Q3 25 | $460.0M | $475.0M | ||
| Q2 25 | $492.0M | $171.3M | ||
| Q1 25 | $351.0M | $125.0M | ||
| Q4 24 | $392.0M | $78.2M | ||
| Q3 24 | $341.0M | $465.6M | ||
| Q2 24 | $506.0M | $207.0M | ||
| Q1 24 | $238.0M | $122.7M |
| 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 24 | 27.8% | — |
| Q4 25 | 33.0% | 18.5% | ||
| Q3 25 | 35.0% | 37.3% | ||
| Q2 25 | 34.3% | 25.4% | ||
| Q1 25 | 27.4% | 22.5% | ||
| Q4 24 | 28.9% | 18.1% | ||
| Q3 24 | 26.6% | 35.1% | ||
| Q2 24 | 40.6% | 25.4% | ||
| Q1 24 | 20.6% | 20.3% |
| Q4 25 | 26.4% | 6.5% | ||
| Q3 25 | 27.7% | 26.9% | ||
| Q2 25 | 26.0% | 12.6% | ||
| Q1 25 | 21.1% | 9.7% | ||
| Q4 24 | 25.7% | 6.4% | ||
| Q3 24 | 24.9% | 26.0% | ||
| Q2 24 | 32.2% | 14.7% | ||
| Q1 24 | 16.2% | 9.6% |
| Q4 25 | $2.56 | $0.35 | ||
| Q3 25 | $2.19 | $2.03 | ||
| Q2 25 | $2.37 | $0.74 | ||
| Q1 25 | $1.85 | $0.54 | ||
| Q4 24 | $1.86 | $0.34 | ||
| Q3 24 | $1.55 | $2.02 | ||
| Q2 24 | $2.30 | $0.90 | ||
| Q1 24 | $1.03 | $0.53 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $19.8M |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $4.8B | $10.2B |
| Total Assets | $14.1B | $33.9B |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $19.8M | ||
| Q3 25 | — | $27.5M | ||
| Q2 25 | — | $27.8M | ||
| Q1 25 | — | $35.3M | ||
| Q4 24 | — | $22.0M | ||
| Q3 24 | — | $34.6M | ||
| Q2 24 | — | $26.1M | ||
| Q1 24 | — | $63.7M |
| 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 | $10.2B | ||
| Q3 25 | $4.8B | $10.3B | ||
| Q2 25 | $5.0B | $10.0B | ||
| Q1 25 | $4.8B | $9.9B | ||
| Q4 24 | $5.0B | $10.0B | ||
| Q3 24 | $5.2B | $10.0B | ||
| Q2 24 | $5.5B | $9.7B | ||
| Q1 24 | $5.4B | $9.6B |
| Q4 25 | $14.1B | $33.9B | ||
| Q3 25 | $14.2B | $33.4B | ||
| Q2 25 | $13.8B | $32.9B | ||
| Q1 25 | $13.3B | $32.5B | ||
| Q4 24 | $13.5B | $32.3B | ||
| Q3 24 | $13.8B | $32.1B | ||
| Q2 24 | $13.8B | $31.8B | ||
| Q1 24 | $13.9B | $31.3B |
| 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 | $334.0M |
| Free Cash FlowOCF − Capex | $313.0M | $-530.5M |
| FCF MarginFCF / Revenue | 16.7% | -41.1% |
| Capex IntensityCapex / Revenue | 12.1% | 66.9% |
| Cash ConversionOCF / Net Profit | 1.09× | 3.96× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $-751.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $334.0M | ||
| Q3 25 | $1.1B | $937.7M | ||
| Q2 25 | $563.0M | $323.9M | ||
| Q1 25 | $586.0M | $449.6M | ||
| Q4 24 | $420.0M | $395.6M | ||
| Q3 24 | $931.0M | $953.3M | ||
| Q2 24 | $475.0M | $317.5M | ||
| Q1 24 | $445.0M | $317.3M |
| Q4 25 | $313.0M | $-530.5M | ||
| Q3 25 | $717.0M | $225.4M | ||
| Q2 25 | $318.0M | $-303.4M | ||
| Q1 25 | $454.0M | $-143.2M | ||
| Q4 24 | $223.0M | $-118.6M | ||
| Q3 24 | $792.0M | $427.0M | ||
| Q2 24 | $391.0M | $-360.0M | ||
| Q1 24 | $347.0M | $-301.3M |
| Q4 25 | 16.7% | -41.1% | ||
| Q3 25 | 43.2% | 12.8% | ||
| Q2 25 | 16.8% | -22.4% | ||
| Q1 25 | 27.3% | -11.1% | ||
| Q4 24 | 14.6% | -9.7% | ||
| Q3 24 | 57.8% | 23.9% | ||
| Q2 24 | 24.9% | -25.6% | ||
| Q1 24 | 23.6% | -23.5% |
| Q4 25 | 12.1% | 66.9% | ||
| Q3 25 | 20.9% | 40.4% | ||
| Q2 25 | 13.0% | 46.3% | ||
| Q1 25 | 7.9% | 45.8% | ||
| Q4 24 | 12.9% | 41.9% | ||
| Q3 24 | 10.1% | 29.4% | ||
| Q2 24 | 5.3% | 48.1% | ||
| Q1 24 | 6.7% | 48.3% |
| Q4 25 | 1.09× | 3.96× | ||
| Q3 25 | 2.31× | 1.97× | ||
| Q2 25 | 1.14× | 1.89× | ||
| Q1 25 | 1.67× | 3.60× | ||
| Q4 24 | 1.07× | 5.06× | ||
| Q3 24 | 2.73× | 2.05× | ||
| Q2 24 | 0.94× | 1.53× | ||
| Q1 24 | 1.87× | 2.59× |
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% |
EVRG
| Electric Utility Customer Class Residential | $462.9M | 36% |
| Electric Utility Customer Class Commercial | $447.6M | 35% |
| Electric Utility Customer Class Industrial | $164.1M | 13% |
| Electric Utility Customer Class Transmission | $129.4M | 10% |
| Electric Utility Customer Class Wholesale | $69.7M | 5% |
| Electric Utility Customer Class Other Retail | $12.2M | 1% |
| Electric Utility Customer Class Industrial Steam | $5.7M | 0% |
