vs
Side-by-side financial comparison of CF Industries (CF) and Expeditors International (EXPD). Click either name above to swap in a different company.
Expeditors International is the larger business by last-quarter revenue ($2.9B vs $1.9B, roughly 1.5× CF Industries). CF Industries runs the higher net margin — 26.4% vs 7.0%, a 19.4% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs -3.3%). CF Industries produced more free cash flow last quarter ($313.0M vs $270.3M). Over the past eight quarters, Expeditors International's revenue compounded faster (13.8% 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.
Expeditors International of Washington, Inc. is an American Fortune 500 service-based logistics company with headquarters in Bellevue, Washington. Expeditors generates highly optimized and customized supply chain solutions for clients with unified technology systems integrated through a global network of over 340+ locations in 100+ countries on six continents.
CF vs EXPD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $2.9B |
| Net Profit | $495.0M | $200.7M |
| Gross Margin | 40.9% | — |
| Operating Margin | 33.0% | 8.8% |
| Net Margin | 26.4% | 7.0% |
| Revenue YoY | 22.8% | -3.3% |
| Net Profit YoY | 26.3% | -14.9% |
| EPS (diluted) | $2.56 | $1.50 |
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 | $2.9B | ||
| Q3 25 | $1.7B | $2.9B | ||
| Q2 25 | $1.9B | $2.7B | ||
| Q1 25 | $1.7B | $2.7B | ||
| Q4 24 | $1.5B | $3.0B | ||
| Q3 24 | $1.4B | $3.0B | ||
| Q2 24 | $1.6B | $2.4B | ||
| Q1 24 | $1.5B | $2.2B |
| Q4 25 | $495.0M | $200.7M | ||
| Q3 25 | $460.0M | $222.3M | ||
| Q2 25 | $492.0M | $183.6M | ||
| Q1 25 | $351.0M | $203.8M | ||
| Q4 24 | $392.0M | $235.9M | ||
| Q3 24 | $341.0M | $229.6M | ||
| Q2 24 | $506.0M | $175.5M | ||
| Q1 24 | $238.0M | $169.2M |
| 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% | 8.8% | ||
| Q3 25 | 35.0% | 10.0% | ||
| Q2 25 | 34.3% | 9.3% | ||
| Q1 25 | 27.4% | 10.0% | ||
| Q4 24 | 28.9% | 10.2% | ||
| Q3 24 | 26.6% | 10.1% | ||
| Q2 24 | 40.6% | 9.2% | ||
| Q1 24 | 20.6% | 9.7% |
| Q4 25 | 26.4% | 7.0% | ||
| Q3 25 | 27.7% | 7.7% | ||
| Q2 25 | 26.0% | 6.9% | ||
| Q1 25 | 21.1% | 7.6% | ||
| Q4 24 | 25.7% | 8.0% | ||
| Q3 24 | 24.9% | 7.7% | ||
| Q2 24 | 32.2% | 7.2% | ||
| Q1 24 | 16.2% | 7.7% |
| Q4 25 | $2.56 | $1.50 | ||
| Q3 25 | $2.19 | $1.64 | ||
| Q2 25 | $2.37 | $1.34 | ||
| Q1 25 | $1.85 | $1.47 | ||
| Q4 24 | $1.86 | $1.68 | ||
| Q3 24 | $1.55 | $1.63 | ||
| Q2 24 | $2.30 | $1.24 | ||
| Q1 24 | $1.03 | $1.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.3B |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $4.8B | $2.4B |
| Total Assets | $14.1B | $4.9B |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.4B |
| 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 | $2.4B | ||
| Q3 25 | $4.8B | $2.3B | ||
| Q2 25 | $5.0B | $2.2B | ||
| Q1 25 | $4.8B | $2.3B | ||
| Q4 24 | $5.0B | $2.2B | ||
| Q3 24 | $5.2B | $2.4B | ||
| Q2 24 | $5.5B | $2.2B | ||
| Q1 24 | $5.4B | $2.2B |
| Q4 25 | $14.1B | $4.9B | ||
| Q3 25 | $14.2B | $4.8B | ||
| Q2 25 | $13.8B | $4.8B | ||
| Q1 25 | $13.3B | $4.8B | ||
| Q4 24 | $13.5B | $4.8B | ||
| Q3 24 | $13.8B | $5.2B | ||
| Q2 24 | $13.8B | $4.8B | ||
| Q1 24 | $13.9B | $4.5B |
| 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 | $283.3M |
| Free Cash FlowOCF − Capex | $313.0M | $270.3M |
| FCF MarginFCF / Revenue | 16.7% | 9.5% |
| Capex IntensityCapex / Revenue | 12.1% | 0.5% |
| Cash ConversionOCF / Net Profit | 1.09× | 1.41× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $953.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $283.3M | ||
| Q3 25 | $1.1B | $201.4M | ||
| Q2 25 | $563.0M | $179.2M | ||
| Q1 25 | $586.0M | $342.6M | ||
| Q4 24 | $420.0M | $249.7M | ||
| Q3 24 | $931.0M | $90.0M | ||
| Q2 24 | $475.0M | $126.8M | ||
| Q1 24 | $445.0M | $256.9M |
| Q4 25 | $313.0M | $270.3M | ||
| Q3 25 | $717.0M | $190.3M | ||
| Q2 25 | $318.0M | $163.3M | ||
| Q1 25 | $454.0M | $329.5M | ||
| Q4 24 | $223.0M | $239.7M | ||
| Q3 24 | $792.0M | $77.7M | ||
| Q2 24 | $391.0M | $118.8M | ||
| Q1 24 | $347.0M | $246.7M |
| Q4 25 | 16.7% | 9.5% | ||
| Q3 25 | 43.2% | 6.6% | ||
| Q2 25 | 16.8% | 6.2% | ||
| Q1 25 | 27.3% | 12.4% | ||
| Q4 24 | 14.6% | 8.1% | ||
| Q3 24 | 57.8% | 2.6% | ||
| Q2 24 | 24.9% | 4.9% | ||
| Q1 24 | 23.6% | 11.2% |
| Q4 25 | 12.1% | 0.5% | ||
| Q3 25 | 20.9% | 0.4% | ||
| Q2 25 | 13.0% | 0.6% | ||
| Q1 25 | 7.9% | 0.5% | ||
| Q4 24 | 12.9% | 0.3% | ||
| Q3 24 | 10.1% | 0.4% | ||
| Q2 24 | 5.3% | 0.3% | ||
| Q1 24 | 6.7% | 0.5% |
| Q4 25 | 1.09× | 1.41× | ||
| Q3 25 | 2.31× | 0.91× | ||
| Q2 25 | 1.14× | 0.98× | ||
| Q1 25 | 1.67× | 1.68× | ||
| Q4 24 | 1.07× | 1.06× | ||
| Q3 24 | 2.73× | 0.39× | ||
| Q2 24 | 0.94× | 0.72× | ||
| Q1 24 | 1.87× | 1.52× |
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% |
EXPD
| Customs Brokerage And Other Services | $1.1B | 40% |
| Airfreight Services | $1.1B | 39% |
| Ocean Freight And Ocean Services | $611.4M | 21% |
