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Side-by-side financial comparison of CF Industries (CF) and COMFORT SYSTEMS USA INC (FIX). Click either name above to swap in a different company.
COMFORT SYSTEMS USA INC is the larger business by last-quarter revenue ($2.6B vs $1.9B, roughly 1.4× CF Industries). CF Industries runs the higher net margin — 26.4% vs 12.5%, a 13.9% gap on every dollar of revenue. On growth, COMFORT SYSTEMS USA INC posted the faster year-over-year revenue change (41.7% vs 22.8%). COMFORT SYSTEMS USA INC produced more free cash flow last quarter ($402.4M vs $313.0M). Over the past eight quarters, COMFORT SYSTEMS USA INC's revenue compounded faster (31.2% 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.
Comfort Systems USA, Inc. is an American company that provides mechanical and electrical contracting services, primarily HVAC, plumbing, piping and controls, off-site construction, monitoring and fire protection, and installation and servicing of electrical systems.
CF vs FIX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $2.6B |
| Net Profit | $495.0M | $330.8M |
| Gross Margin | 40.9% | 25.5% |
| Operating Margin | 33.0% | 16.1% |
| Net Margin | 26.4% | 12.5% |
| Revenue YoY | 22.8% | 41.7% |
| Net Profit YoY | 26.3% | 126.8% |
| EPS (diluted) | $2.56 | $9.35 |
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 | $2.6B | ||
| Q3 25 | $1.7B | $2.5B | ||
| Q2 25 | $1.9B | $2.2B | ||
| Q1 25 | $1.7B | $1.8B | ||
| Q4 24 | $1.5B | $1.9B | ||
| Q3 24 | $1.4B | $1.8B | ||
| Q2 24 | $1.6B | $1.8B | ||
| Q1 24 | $1.5B | $1.5B |
| Q4 25 | $495.0M | $330.8M | ||
| Q3 25 | $460.0M | $291.6M | ||
| Q2 25 | $492.0M | $230.8M | ||
| Q1 25 | $351.0M | $169.3M | ||
| Q4 24 | $392.0M | $145.9M | ||
| Q3 24 | $341.0M | $146.2M | ||
| Q2 24 | $506.0M | $134.0M | ||
| Q1 24 | $238.0M | $96.3M |
| Q4 25 | 40.9% | 25.5% | ||
| Q3 25 | 38.1% | 24.8% | ||
| Q2 25 | 39.9% | 23.5% | ||
| Q1 25 | 34.4% | 22.0% | ||
| Q4 24 | 34.4% | 23.2% | ||
| Q3 24 | 32.4% | 21.1% | ||
| Q2 24 | 43.2% | 20.1% | ||
| Q1 24 | 27.8% | 19.3% |
| Q4 25 | 33.0% | 16.1% | ||
| Q3 25 | 35.0% | 15.5% | ||
| Q2 25 | 34.3% | 13.8% | ||
| Q1 25 | 27.4% | 11.4% | ||
| Q4 24 | 28.9% | 12.1% | ||
| Q3 24 | 26.6% | 11.2% | ||
| Q2 24 | 40.6% | 10.2% | ||
| Q1 24 | 20.6% | 8.8% |
| Q4 25 | 26.4% | 12.5% | ||
| Q3 25 | 27.7% | 11.9% | ||
| Q2 25 | 26.0% | 10.6% | ||
| Q1 25 | 21.1% | 9.2% | ||
| Q4 24 | 25.7% | 7.8% | ||
| Q3 24 | 24.9% | 8.1% | ||
| Q2 24 | 32.2% | 7.4% | ||
| Q1 24 | 16.2% | 6.3% |
| Q4 25 | $2.56 | $9.35 | ||
| Q3 25 | $2.19 | $8.25 | ||
| Q2 25 | $2.37 | $6.53 | ||
| Q1 25 | $1.85 | $4.75 | ||
| Q4 24 | $1.86 | $4.08 | ||
| Q3 24 | $1.55 | $4.09 | ||
| Q2 24 | $2.30 | $3.74 | ||
| Q1 24 | $1.03 | $2.69 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $981.9M |
| Total DebtLower is stronger | $3.2B | $145.2M |
| Stockholders' EquityBook value | $4.8B | $2.4B |
| Total Assets | $14.1B | $6.4B |
| Debt / EquityLower = less leverage | 0.66× | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $981.9M | ||
| Q3 25 | — | $860.5M | ||
| Q2 25 | — | $331.7M | ||
| Q1 25 | — | $204.8M | ||
| Q4 24 | — | $549.9M | ||
| Q3 24 | — | $415.6M | ||
| Q2 24 | — | $199.4M | ||
| Q1 24 | — | $100.8M |
| Q4 25 | $3.2B | $145.2M | ||
| Q3 25 | $3.0B | $136.0M | ||
| Q2 25 | $3.0B | $73.0M | ||
| Q1 25 | $3.0B | $67.8M | ||
| Q4 24 | $3.0B | $68.3M | ||
| Q3 24 | $3.0B | $62.3M | ||
| Q2 24 | $3.0B | $73.4M | ||
| Q1 24 | $3.0B | $77.0M |
| Q4 25 | $4.8B | $2.4B | ||
| Q3 25 | $4.8B | $2.2B | ||
| Q2 25 | $5.0B | $2.0B | ||
| Q1 25 | $4.8B | $1.8B | ||
| Q4 24 | $5.0B | $1.7B | ||
| Q3 24 | $5.2B | $1.6B | ||
| Q2 24 | $5.5B | $1.5B | ||
| Q1 24 | $5.4B | $1.4B |
| Q4 25 | $14.1B | $6.4B | ||
| Q3 25 | $14.2B | $5.8B | ||
| Q2 25 | $13.8B | $5.1B | ||
| Q1 25 | $13.3B | $4.6B | ||
| Q4 24 | $13.5B | $4.7B | ||
| Q3 24 | $13.8B | $4.4B | ||
| Q2 24 | $13.8B | $4.2B | ||
| Q1 24 | $13.9B | $3.9B |
| Q4 25 | 0.66× | 0.06× | ||
| Q3 25 | 0.61× | 0.06× | ||
| Q2 25 | 0.60× | 0.04× | ||
| Q1 25 | 0.62× | 0.04× | ||
| Q4 24 | 0.60× | 0.04× | ||
| Q3 24 | 0.57× | 0.04× | ||
| Q2 24 | 0.54× | 0.05× | ||
| Q1 24 | 0.55× | 0.06× |
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 | $468.5M |
| Free Cash FlowOCF − Capex | $313.0M | $402.4M |
| FCF MarginFCF / Revenue | 16.7% | 15.2% |
| Capex IntensityCapex / Revenue | 12.1% | 2.5% |
| Cash ConversionOCF / Net Profit | 1.09× | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $1.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $468.5M | ||
| Q3 25 | $1.1B | $553.3M | ||
| Q2 25 | $563.0M | $252.5M | ||
| Q1 25 | $586.0M | $-88.0M | ||
| Q4 24 | $420.0M | $210.5M | ||
| Q3 24 | $931.0M | $302.2M | ||
| Q2 24 | $475.0M | $189.9M | ||
| Q1 24 | $445.0M | $146.6M |
| Q4 25 | $313.0M | $402.4M | ||
| Q3 25 | $717.0M | $517.9M | ||
| Q2 25 | $318.0M | $221.2M | ||
| Q1 25 | $454.0M | $-110.2M | ||
| Q4 24 | $223.0M | $169.8M | ||
| Q3 24 | $792.0M | $280.1M | ||
| Q2 24 | $391.0M | $166.5M | ||
| Q1 24 | $347.0M | $121.6M |
| Q4 25 | 16.7% | 15.2% | ||
| Q3 25 | 43.2% | 21.1% | ||
| Q2 25 | 16.8% | 10.2% | ||
| Q1 25 | 27.3% | -6.0% | ||
| Q4 24 | 14.6% | 9.1% | ||
| Q3 24 | 57.8% | 15.5% | ||
| Q2 24 | 24.9% | 9.2% | ||
| Q1 24 | 23.6% | 7.9% |
| Q4 25 | 12.1% | 2.5% | ||
| Q3 25 | 20.9% | 1.4% | ||
| Q2 25 | 13.0% | 1.4% | ||
| Q1 25 | 7.9% | 1.2% | ||
| Q4 24 | 12.9% | 2.2% | ||
| Q3 24 | 10.1% | 1.2% | ||
| Q2 24 | 5.3% | 1.3% | ||
| Q1 24 | 6.7% | 1.6% |
| Q4 25 | 1.09× | 1.42× | ||
| Q3 25 | 2.31× | 1.90× | ||
| Q2 25 | 1.14× | 1.09× | ||
| Q1 25 | 1.67× | -0.52× | ||
| Q4 24 | 1.07× | 1.44× | ||
| Q3 24 | 2.73× | 2.07× | ||
| Q2 24 | 0.94× | 1.42× | ||
| 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% |
FIX
| Electrical Segment | $823.7M | 31% |
| Manufacturing Customer | $542.7M | 21% |
| Existing Building Construction | $491.4M | 19% |
| Healthcare Sector Customer | $220.8M | 8% |
| Service Projects | $153.0M | 6% |
| Education | $137.5M | 5% |
| Government Customer | $131.0M | 5% |
| Office Building Customer | $88.2M | 3% |
| Other Customer | $40.7M | 2% |
| Multi Family And Residential | $33.7M | 1% |
