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Side-by-side financial comparison of CF Industries (CF) and Fortive (FTV). 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 1.8× Fortive). CF Industries runs the higher net margin — 26.4% vs 12.8%, a 13.7% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs 7.7%). CF Industries produced more free cash flow last quarter ($313.0M vs $193.8M). Over the past eight quarters, CF Industries's revenue compounded faster (12.8% CAGR vs -17.0%).
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.
Fortive Corporation is an American industrial technology conglomerate company headquartered in Everett, Washington. The company specializes in providing essential technologies for connected workflow solutions; designing, developing, manufacturing and distributing professional and engineered products, software and services. Their products and services are split into three strategic segments; Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. As of Decem...
CF vs FTV — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.1B |
| Net Profit | $495.0M | $136.4M |
| Gross Margin | 40.9% | 63.2% |
| Operating Margin | 33.0% | 17.9% |
| Net Margin | 26.4% | 12.8% |
| Revenue YoY | 22.8% | 7.7% |
| Net Profit YoY | 26.3% | 21.1% |
| EPS (diluted) | $2.56 | $0.44 |
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.
| Q1 26 | — | $1.1B | ||
| Q4 25 | $1.9B | $1.1B | ||
| Q3 25 | $1.7B | $1.0B | ||
| Q2 25 | $1.9B | $1.5B | ||
| Q1 25 | $1.7B | $1.5B | ||
| Q4 24 | $1.5B | $1.6B | ||
| Q3 24 | $1.4B | $1.5B | ||
| Q2 24 | $1.6B | $1.6B |
| Q1 26 | — | $136.4M | ||
| Q4 25 | $495.0M | $185.7M | ||
| Q3 25 | $460.0M | $55.0M | ||
| Q2 25 | $492.0M | $166.6M | ||
| Q1 25 | $351.0M | $171.9M | ||
| Q4 24 | $392.0M | $208.8M | ||
| Q3 24 | $341.0M | $221.6M | ||
| Q2 24 | $506.0M | $195.1M |
| Q1 26 | — | 63.2% | ||
| Q4 25 | 40.9% | 63.2% | ||
| Q3 25 | 38.1% | 63.2% | ||
| Q2 25 | 39.9% | 59.0% | ||
| Q1 25 | 34.4% | 59.8% | ||
| Q4 24 | 34.4% | 60.3% | ||
| Q3 24 | 32.4% | 60.0% | ||
| Q2 24 | 43.2% | 59.8% |
| Q1 26 | — | 17.9% | ||
| Q4 25 | 33.0% | 20.1% | ||
| Q3 25 | 35.0% | 15.5% | ||
| Q2 25 | 34.3% | 14.6% | ||
| Q1 25 | 27.4% | 15.8% | ||
| Q4 24 | 28.9% | 19.0% | ||
| Q3 24 | 26.6% | 19.3% | ||
| Q2 24 | 40.6% | 19.4% |
| Q1 26 | — | 12.8% | ||
| Q4 25 | 26.4% | 16.5% | ||
| Q3 25 | 27.7% | 5.4% | ||
| Q2 25 | 26.0% | 11.0% | ||
| Q1 25 | 21.1% | 11.7% | ||
| Q4 24 | 25.7% | 12.9% | ||
| Q3 24 | 24.9% | 14.4% | ||
| Q2 24 | 32.2% | 12.6% |
| Q1 26 | — | $0.44 | ||
| Q4 25 | $2.56 | $0.60 | ||
| Q3 25 | $2.19 | $0.16 | ||
| Q2 25 | $2.37 | $0.49 | ||
| Q1 25 | $1.85 | $0.50 | ||
| Q4 24 | $1.86 | $0.60 | ||
| Q3 24 | $1.55 | $0.63 | ||
| Q2 24 | $2.30 | $0.55 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $356.1M |
| Total DebtLower is stronger | $3.2B | $3.5B |
| Stockholders' EquityBook value | $4.8B | $6.1B |
| Total Assets | $14.1B | $11.6B |
| Debt / EquityLower = less leverage | 0.66× | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $356.1M | ||
| Q4 25 | — | $375.5M | ||
| Q3 25 | — | $430.8M | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $892.1M | ||
| Q4 24 | — | $813.3M | ||
| Q3 24 | — | $811.3M | ||
| Q2 24 | — | $644.1M |
| Q1 26 | — | $3.5B | ||
| Q4 25 | $3.2B | $3.2B | ||
| Q3 25 | $3.0B | $3.3B | ||
| Q2 25 | $3.0B | $4.8B | ||
| Q1 25 | $3.0B | $3.9B | ||
| Q4 24 | $3.0B | $3.7B | ||
| Q3 24 | $3.0B | $3.9B | ||
| Q2 24 | $3.0B | $3.8B |
| Q1 26 | — | $6.1B | ||
| Q4 25 | $4.8B | $6.5B | ||
| Q3 25 | $4.8B | $6.5B | ||
| Q2 25 | $5.0B | $10.4B | ||
| Q1 25 | $4.8B | $10.2B | ||
| Q4 24 | $5.0B | $10.2B | ||
| Q3 24 | $5.2B | $10.6B | ||
| Q2 24 | $5.5B | $10.5B |
| Q1 26 | — | $11.6B | ||
| Q4 25 | $14.1B | $11.7B | ||
| Q3 25 | $14.2B | $11.9B | ||
| Q2 25 | $13.8B | $18.2B | ||
| Q1 25 | $13.3B | $17.1B | ||
| Q4 24 | $13.5B | $17.0B | ||
| Q3 24 | $13.8B | $17.5B | ||
| Q2 24 | $13.8B | $17.3B |
| Q1 26 | — | 0.57× | ||
| Q4 25 | 0.66× | 0.50× | ||
| Q3 25 | 0.61× | 0.51× | ||
| Q2 25 | 0.60× | 0.46× | ||
| Q1 25 | 0.62× | 0.38× | ||
| Q4 24 | 0.60× | 0.36× | ||
| Q3 24 | 0.57× | 0.37× | ||
| Q2 24 | 0.54× | 0.36× |
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 | $234.8M |
| Free Cash FlowOCF − Capex | $313.0M | $193.8M |
| FCF MarginFCF / Revenue | 16.7% | 18.1% |
| Capex IntensityCapex / Revenue | 12.1% | 2.5% |
| Cash ConversionOCF / Net Profit | 1.09× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $935.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $234.8M | ||
| Q4 25 | $539.0M | $1.1B | ||
| Q3 25 | $1.1B | $164.4M | ||
| Q2 25 | $563.0M | $311.2M | ||
| Q1 25 | $586.0M | $241.7M | ||
| Q4 24 | $420.0M | $502.2M | ||
| Q3 24 | $931.0M | $459.0M | ||
| Q2 24 | $475.0M | $308.9M |
| Q1 26 | — | $193.8M | ||
| Q4 25 | $313.0M | $313.8M | ||
| Q3 25 | $717.0M | $153.1M | ||
| Q2 25 | $318.0M | $274.5M | ||
| Q1 25 | $454.0M | $215.0M | ||
| Q4 24 | $223.0M | $465.2M | ||
| Q3 24 | $792.0M | $431.2M | ||
| Q2 24 | $391.0M | $279.7M |
| Q1 26 | — | 18.1% | ||
| Q4 25 | 16.7% | 28.0% | ||
| Q3 25 | 43.2% | 14.9% | ||
| Q2 25 | 16.8% | 18.1% | ||
| Q1 25 | 27.3% | 14.6% | ||
| Q4 24 | 14.6% | 28.7% | ||
| Q3 24 | 57.8% | 28.1% | ||
| Q2 24 | 24.9% | 18.0% |
| Q1 26 | — | 2.5% | ||
| Q4 25 | 12.1% | 2.7% | ||
| Q3 25 | 20.9% | 1.1% | ||
| Q2 25 | 13.0% | 2.4% | ||
| Q1 25 | 7.9% | 1.8% | ||
| Q4 24 | 12.9% | 2.3% | ||
| Q3 24 | 10.1% | 1.8% | ||
| Q2 24 | 5.3% | 1.9% |
| Q1 26 | — | 1.72× | ||
| Q4 25 | 1.09× | 5.83× | ||
| Q3 25 | 2.31× | 2.99× | ||
| Q2 25 | 1.14× | 1.87× | ||
| Q1 25 | 1.67× | 1.41× | ||
| Q4 24 | 1.07× | 2.41× | ||
| Q3 24 | 2.73× | 2.07× | ||
| Q2 24 | 0.94× | 1.58× |
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% |
FTV
Segment breakdown not available.
