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Side-by-side financial comparison of CF Industries (CF) and Fabrinet (FN). Click either name above to swap in a different company.
CF Industries is the larger business by last-quarter revenue ($1.9B vs $1.1B, roughly 1.7× Fabrinet). CF Industries runs the higher net margin — 26.4% vs 9.9%, a 16.5% gap on every dollar of revenue. On growth, Fabrinet posted the faster year-over-year revenue change (35.9% vs 22.8%). CF Industries produced more free cash flow last quarter ($313.0M vs $-5.3M). Over the past eight quarters, Fabrinet's revenue compounded faster (24.4% 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.
FabrinetFNEarnings & Financial Report
Below is a list of companies having stocks that are included in the S&P MidCap 400 stock market index. The index, maintained by S&P Dow Jones Indices, comprises the common stocks of 400 mid-cap, mostly American, companies. Although called the S&P 400, the index sometimes contains more than 400 stocks when it includes two or more share classes of stock from one of its component companies.
CF vs FN — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.1B |
| Net Profit | $495.0M | $112.6M |
| Gross Margin | 40.9% | 12.2% |
| Operating Margin | 33.0% | 10.1% |
| Net Margin | 26.4% | 9.9% |
| Revenue YoY | 22.8% | 35.9% |
| Net Profit YoY | 26.3% | 30.0% |
| EPS (diluted) | $2.56 | $3.11 |
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 | $1.1B | ||
| Q3 25 | $1.7B | $978.1M | ||
| Q2 25 | $1.9B | $909.7M | ||
| Q1 25 | $1.7B | $871.8M | ||
| Q4 24 | $1.5B | $833.6M | ||
| Q3 24 | $1.4B | $804.2M | ||
| Q2 24 | $1.6B | $753.3M | ||
| Q1 24 | $1.5B | $731.5M |
| Q4 25 | $495.0M | $112.6M | ||
| Q3 25 | $460.0M | $95.9M | ||
| Q2 25 | $492.0M | $87.2M | ||
| Q1 25 | $351.0M | $81.3M | ||
| Q4 24 | $392.0M | $86.6M | ||
| Q3 24 | $341.0M | $77.4M | ||
| Q2 24 | $506.0M | $81.1M | ||
| Q1 24 | $238.0M | $80.9M |
| Q4 25 | 40.9% | 12.2% | ||
| Q3 25 | 38.1% | 11.9% | ||
| Q2 25 | 39.9% | 12.2% | ||
| Q1 25 | 34.4% | 11.7% | ||
| Q4 24 | 34.4% | 12.1% | ||
| Q3 24 | 32.4% | 12.3% | ||
| Q2 24 | 43.2% | 12.3% | ||
| Q1 24 | 27.8% | 12.4% |
| Q4 25 | 33.0% | 10.1% | ||
| Q3 25 | 35.0% | 9.6% | ||
| Q2 25 | 34.3% | 9.8% | ||
| Q1 25 | 27.4% | 9.0% | ||
| Q4 24 | 28.9% | 9.5% | ||
| Q3 24 | 26.6% | 9.6% | ||
| Q2 24 | 40.6% | 9.7% | ||
| Q1 24 | 20.6% | 9.7% |
| Q4 25 | 26.4% | 9.9% | ||
| Q3 25 | 27.7% | 9.8% | ||
| Q2 25 | 26.0% | 9.6% | ||
| Q1 25 | 21.1% | 9.3% | ||
| Q4 24 | 25.7% | 10.4% | ||
| Q3 24 | 24.9% | 9.6% | ||
| Q2 24 | 32.2% | 10.8% | ||
| Q1 24 | 16.2% | 11.1% |
| Q4 25 | $2.56 | $3.11 | ||
| Q3 25 | $2.19 | $2.66 | ||
| Q2 25 | $2.37 | $2.41 | ||
| Q1 25 | $1.85 | $2.25 | ||
| Q4 24 | $1.86 | $2.38 | ||
| Q3 24 | $1.55 | $2.13 | ||
| Q2 24 | $2.30 | $2.22 | ||
| Q1 24 | $1.03 | $2.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $960.8M |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $4.8B | $2.2B |
| Total Assets | $14.1B | $3.3B |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $960.8M | ||
| Q3 25 | — | $968.8M | ||
| Q2 25 | — | $934.2M | ||
| Q1 25 | — | $950.7M | ||
| Q4 24 | — | $934.6M | ||
| Q3 24 | — | $908.9M | ||
| Q2 24 | — | $858.6M | ||
| Q1 24 | — | $794.0M |
| 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 | $2.2B | ||
| Q3 25 | $4.8B | $2.1B | ||
| Q2 25 | $5.0B | $2.0B | ||
| Q1 25 | $4.8B | $1.9B | ||
| Q4 24 | $5.0B | $1.8B | ||
| Q3 24 | $5.2B | $1.8B | ||
| Q2 24 | $5.5B | $1.7B | ||
| Q1 24 | $5.4B | $1.7B |
| Q4 25 | $14.1B | $3.3B | ||
| Q3 25 | $14.2B | $3.0B | ||
| Q2 25 | $13.8B | $2.8B | ||
| Q1 25 | $13.3B | $2.6B | ||
| Q4 24 | $13.5B | $2.5B | ||
| Q3 24 | $13.8B | $2.4B | ||
| Q2 24 | $13.8B | $2.3B | ||
| Q1 24 | $13.9B | $2.2B |
| 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 | $46.3M |
| Free Cash FlowOCF − Capex | $313.0M | $-5.3M |
| FCF MarginFCF / Revenue | 16.7% | -0.5% |
| Capex IntensityCapex / Revenue | 12.1% | 4.6% |
| Cash ConversionOCF / Net Profit | 1.09× | 0.41× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $102.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $46.3M | ||
| Q3 25 | $1.1B | $102.6M | ||
| Q2 25 | $563.0M | $55.1M | ||
| Q1 25 | $586.0M | $74.2M | ||
| Q4 24 | $420.0M | $115.9M | ||
| Q3 24 | $931.0M | $83.2M | ||
| Q2 24 | $475.0M | $83.1M | ||
| Q1 24 | $445.0M | $100.9M |
| Q4 25 | $313.0M | $-5.3M | ||
| Q3 25 | $717.0M | $57.3M | ||
| Q2 25 | $318.0M | $4.7M | ||
| Q1 25 | $454.0M | $45.7M | ||
| Q4 24 | $223.0M | $94.0M | ||
| Q3 24 | $792.0M | $62.9M | ||
| Q2 24 | $391.0M | $70.4M | ||
| Q1 24 | $347.0M | $87.3M |
| Q4 25 | 16.7% | -0.5% | ||
| Q3 25 | 43.2% | 5.9% | ||
| Q2 25 | 16.8% | 0.5% | ||
| Q1 25 | 27.3% | 5.2% | ||
| Q4 24 | 14.6% | 11.3% | ||
| Q3 24 | 57.8% | 7.8% | ||
| Q2 24 | 24.9% | 9.3% | ||
| Q1 24 | 23.6% | 11.9% |
| Q4 25 | 12.1% | 4.6% | ||
| Q3 25 | 20.9% | 4.6% | ||
| Q2 25 | 13.0% | 5.5% | ||
| Q1 25 | 7.9% | 3.3% | ||
| Q4 24 | 12.9% | 2.6% | ||
| Q3 24 | 10.1% | 2.5% | ||
| Q2 24 | 5.3% | 1.7% | ||
| Q1 24 | 6.7% | 1.9% |
| Q4 25 | 1.09× | 0.41× | ||
| Q3 25 | 2.31× | 1.07× | ||
| Q2 25 | 1.14× | 0.63× | ||
| Q1 25 | 1.67× | 0.91× | ||
| Q4 24 | 1.07× | 1.34× | ||
| Q3 24 | 2.73× | 1.07× | ||
| Q2 24 | 0.94× | 1.02× | ||
| Q1 24 | 1.87× | 1.25× |
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% |
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
