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Side-by-side financial comparison of CF Industries (CF) and First American Financial Corp (FAF). Click either name above to swap in a different company.
First American Financial Corp is the larger business by last-quarter revenue ($2.0B vs $1.9B, roughly 1.1× CF Industries). CF Industries runs the higher net margin — 26.4% vs 10.3%, a 16.1% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs 21.6%). First American Financial Corp produced more free cash flow last quarter ($324.5M vs $313.0M). Over the past eight quarters, First American Financial Corp's revenue compounded faster (19.9% 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.
First American Financial Corporation is an American financial services company which provides title insurance and settlement services to the real estate and mortgage industries.
CF vs FAF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $2.0B |
| Net Profit | $495.0M | $211.9M |
| Gross Margin | 40.9% | — |
| Operating Margin | 33.0% | 14.0% |
| Net Margin | 26.4% | 10.3% |
| Revenue YoY | 22.8% | 21.6% |
| Net Profit YoY | 26.3% | 192.7% |
| EPS (diluted) | $2.56 | $2.04 |
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 | $2.0B | ||
| Q3 25 | $1.7B | $2.0B | ||
| Q2 25 | $1.9B | $1.8B | ||
| Q1 25 | $1.7B | $1.6B | ||
| Q4 24 | $1.5B | $1.7B | ||
| Q3 24 | $1.4B | $1.4B | ||
| Q2 24 | $1.6B | $1.6B | ||
| Q1 24 | $1.5B | $1.4B |
| Q4 25 | $495.0M | $211.9M | ||
| Q3 25 | $460.0M | $189.6M | ||
| Q2 25 | $492.0M | $146.1M | ||
| Q1 25 | $351.0M | $74.2M | ||
| Q4 24 | $392.0M | $72.4M | ||
| Q3 24 | $341.0M | $-104.0M | ||
| Q2 24 | $506.0M | $116.0M | ||
| Q1 24 | $238.0M | $46.7M |
| 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% | 14.0% | ||
| Q3 25 | 35.0% | 12.5% | ||
| Q2 25 | 34.3% | 10.6% | ||
| Q1 25 | 27.4% | 6.1% | ||
| Q4 24 | 28.9% | 5.9% | ||
| Q3 24 | 26.6% | -10.3% | ||
| Q2 24 | 40.6% | 9.4% | ||
| Q1 24 | 20.6% | 4.1% |
| Q4 25 | 26.4% | 10.3% | ||
| Q3 25 | 27.7% | 9.6% | ||
| Q2 25 | 26.0% | 7.9% | ||
| Q1 25 | 21.1% | 4.7% | ||
| Q4 24 | 25.7% | 4.3% | ||
| Q3 24 | 24.9% | -7.4% | ||
| Q2 24 | 32.2% | 7.2% | ||
| Q1 24 | 16.2% | 3.3% |
| Q4 25 | $2.56 | $2.04 | ||
| Q3 25 | $2.19 | $1.84 | ||
| Q2 25 | $2.37 | $1.41 | ||
| Q1 25 | $1.85 | $0.71 | ||
| Q4 24 | $1.86 | $0.70 | ||
| Q3 24 | $1.55 | $-1.00 | ||
| Q2 24 | $2.30 | $1.11 | ||
| Q1 24 | $1.03 | $0.45 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.4B |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $4.8B | $5.5B |
| Total Assets | $14.1B | $16.2B |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $1.5B |
| 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 | $5.5B | ||
| Q3 25 | $4.8B | $5.3B | ||
| Q2 25 | $5.0B | $5.1B | ||
| Q1 25 | $4.8B | $5.0B | ||
| Q4 24 | $5.0B | $4.9B | ||
| Q3 24 | $5.2B | $5.1B | ||
| Q2 24 | $5.5B | $4.8B | ||
| Q1 24 | $5.4B | $4.8B |
| Q4 25 | $14.1B | $16.2B | ||
| Q3 25 | $14.2B | $17.6B | ||
| Q2 25 | $13.8B | $16.3B | ||
| Q1 25 | $13.3B | $15.5B | ||
| Q4 24 | $13.5B | $14.9B | ||
| Q3 24 | $13.8B | $16.6B | ||
| Q2 24 | $13.8B | $15.2B | ||
| Q1 24 | $13.9B | $14.7B |
| 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 | $369.3M |
| Free Cash FlowOCF − Capex | $313.0M | $324.5M |
| FCF MarginFCF / Revenue | 16.7% | 15.8% |
| Capex IntensityCapex / Revenue | 12.1% | 2.2% |
| Cash ConversionOCF / Net Profit | 1.09× | 1.74× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $762.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $369.3M | ||
| Q3 25 | $1.1B | $272.5M | ||
| Q2 25 | $563.0M | $361.8M | ||
| Q1 25 | $586.0M | $-52.8M | ||
| Q4 24 | $420.0M | $324.6M | ||
| Q3 24 | $931.0M | $236.9M | ||
| Q2 24 | $475.0M | $266.7M | ||
| Q1 24 | $445.0M | $69.3M |
| Q4 25 | $313.0M | $324.5M | ||
| Q3 25 | $717.0M | $223.1M | ||
| Q2 25 | $318.0M | $309.4M | ||
| Q1 25 | $454.0M | $-94.5M | ||
| Q4 24 | $223.0M | $266.2M | ||
| Q3 24 | $792.0M | $185.4M | ||
| Q2 24 | $391.0M | $210.0M | ||
| Q1 24 | $347.0M | $17.6M |
| Q4 25 | 16.7% | 15.8% | ||
| Q3 25 | 43.2% | 11.3% | ||
| Q2 25 | 16.8% | 16.8% | ||
| Q1 25 | 27.3% | -6.0% | ||
| Q4 24 | 14.6% | 15.8% | ||
| Q3 24 | 57.8% | 13.2% | ||
| Q2 24 | 24.9% | 13.0% | ||
| Q1 24 | 23.6% | 1.2% |
| Q4 25 | 12.1% | 2.2% | ||
| Q3 25 | 20.9% | 2.5% | ||
| Q2 25 | 13.0% | 2.8% | ||
| Q1 25 | 7.9% | 2.6% | ||
| Q4 24 | 12.9% | 3.5% | ||
| Q3 24 | 10.1% | 3.7% | ||
| Q2 24 | 5.3% | 3.5% | ||
| Q1 24 | 6.7% | 3.6% |
| Q4 25 | 1.09× | 1.74× | ||
| Q3 25 | 2.31× | 1.44× | ||
| Q2 25 | 1.14× | 2.48× | ||
| Q1 25 | 1.67× | -0.71× | ||
| Q4 24 | 1.07× | 4.48× | ||
| Q3 24 | 2.73× | — | ||
| Q2 24 | 0.94× | 2.30× | ||
| Q1 24 | 1.87× | 1.48× |
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% |
FAF
| Title Insurance And Services | $1.9B | 94% |
| Home Warranty | $110.3M | 5% |
