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Side-by-side financial comparison of CF Industries (CF) and WARRIOR MET COAL, INC. (HCC). Click either name above to swap in a different company.
CF Industries is the larger business by last-quarter revenue ($1.9B vs $384.0M, roughly 4.9× WARRIOR MET COAL, INC.). CF Industries runs the higher net margin — 26.4% vs 6.0%, a 20.5% gap on every dollar of revenue. On growth, WARRIOR MET COAL, INC. posted the faster year-over-year revenue change (29.1% vs 22.8%). Over the past eight quarters, CF Industries's revenue compounded faster (12.8% CAGR vs -12.7%).
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.
Warrior Met Coal, Inc. (ticker HCC) is a U.S.-headquartered mining enterprise that produces and distributes high-grade metallurgical coal, a key raw material for steel production. It serves steel manufacturers and industrial clients across core markets including North America, Europe, and Asia.
CF vs HCC — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $384.0M |
| Net Profit | $495.0M | $23.0M |
| Gross Margin | 40.9% | 29.5% |
| Operating Margin | 33.0% | 9.0% |
| Net Margin | 26.4% | 6.0% |
| Revenue YoY | 22.8% | 29.1% |
| Net Profit YoY | 26.3% | 1919.5% |
| EPS (diluted) | $2.56 | $0.43 |
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 | $384.0M | ||
| Q3 25 | $1.7B | $328.6M | ||
| Q2 25 | $1.9B | $297.5M | ||
| Q1 25 | $1.7B | $299.9M | ||
| Q4 24 | $1.5B | $297.5M | ||
| Q3 24 | $1.4B | $327.7M | ||
| Q2 24 | $1.6B | $396.5M | ||
| Q1 24 | $1.5B | $503.5M |
| Q4 25 | $495.0M | $23.0M | ||
| Q3 25 | $460.0M | $36.6M | ||
| Q2 25 | $492.0M | $5.6M | ||
| Q1 25 | $351.0M | $-8.2M | ||
| Q4 24 | $392.0M | $1.1M | ||
| Q3 24 | $341.0M | $41.8M | ||
| Q2 24 | $506.0M | $70.7M | ||
| Q1 24 | $238.0M | $137.0M |
| Q4 25 | 40.9% | 29.5% | ||
| Q3 25 | 38.1% | 27.1% | ||
| Q2 25 | 39.9% | 23.9% | ||
| Q1 25 | 34.4% | 18.1% | ||
| Q4 24 | 34.4% | 23.1% | ||
| Q3 24 | 32.4% | 29.3% | ||
| Q2 24 | 43.2% | 34.1% | ||
| Q1 24 | 27.8% | 43.3% |
| Q4 25 | 33.0% | 9.0% | ||
| Q3 25 | 35.0% | 6.3% | ||
| Q2 25 | 34.3% | 2.6% | ||
| Q1 25 | 27.4% | -5.8% | ||
| Q4 24 | 28.9% | -1.4% | ||
| Q3 24 | 26.6% | 11.9% | ||
| Q2 24 | 40.6% | 17.9% | ||
| Q1 24 | 20.6% | 29.6% |
| Q4 25 | 26.4% | 6.0% | ||
| Q3 25 | 27.7% | 11.1% | ||
| Q2 25 | 26.0% | 1.9% | ||
| Q1 25 | 21.1% | -2.7% | ||
| Q4 24 | 25.7% | 0.4% | ||
| Q3 24 | 24.9% | 12.7% | ||
| Q2 24 | 32.2% | 17.8% | ||
| Q1 24 | 16.2% | 27.2% |
| Q4 25 | $2.56 | $0.43 | ||
| Q3 25 | $2.19 | $0.70 | ||
| Q2 25 | $2.37 | $0.11 | ||
| Q1 25 | $1.85 | $-0.16 | ||
| Q4 24 | $1.86 | $0.02 | ||
| Q3 24 | $1.55 | $0.80 | ||
| Q2 24 | $2.30 | $1.35 | ||
| Q1 24 | $1.03 | $2.62 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $300.0M |
| Total DebtLower is stronger | $3.2B | $154.3M |
| Stockholders' EquityBook value | $4.8B | $2.1B |
| Total Assets | $14.1B | $2.8B |
| Debt / EquityLower = less leverage | 0.66× | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $300.0M | ||
| Q3 25 | — | $336.3M | ||
| Q2 25 | — | $383.3M | ||
| Q1 25 | — | $454.9M | ||
| Q4 24 | — | $491.5M | ||
| Q3 24 | — | $583.2M | ||
| Q2 24 | — | $709.0M | ||
| Q1 24 | — | $693.9M |
| Q4 25 | $3.2B | $154.3M | ||
| Q3 25 | $3.0B | $154.1M | ||
| Q2 25 | $3.0B | $153.9M | ||
| Q1 25 | $3.0B | $153.8M | ||
| Q4 24 | $3.0B | $153.6M | ||
| Q3 24 | $3.0B | $153.5M | ||
| Q2 24 | $3.0B | $153.3M | ||
| Q1 24 | $3.0B | $153.2M |
| Q4 25 | $4.8B | $2.1B | ||
| Q3 25 | $4.8B | $2.1B | ||
| Q2 25 | $5.0B | $2.1B | ||
| Q1 25 | $4.8B | $2.1B | ||
| Q4 24 | $5.0B | $2.1B | ||
| Q3 24 | $5.2B | $2.1B | ||
| Q2 24 | $5.5B | $2.0B | ||
| Q1 24 | $5.4B | $2.0B |
| Q4 25 | $14.1B | $2.8B | ||
| Q3 25 | $14.2B | $2.7B | ||
| Q2 25 | $13.8B | $2.6B | ||
| Q1 25 | $13.3B | $2.6B | ||
| Q4 24 | $13.5B | $2.6B | ||
| Q3 24 | $13.8B | $2.6B | ||
| Q2 24 | $13.8B | $2.6B | ||
| Q1 24 | $13.9B | $2.5B |
| Q4 25 | 0.66× | 0.07× | ||
| Q3 25 | 0.61× | 0.07× | ||
| Q2 25 | 0.60× | 0.07× | ||
| Q1 25 | 0.62× | 0.07× | ||
| Q4 24 | 0.60× | 0.07× | ||
| Q3 24 | 0.57× | 0.07× | ||
| Q2 24 | 0.54× | 0.07× | ||
| Q1 24 | 0.55× | 0.08× |
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 | $76.1M |
| Free Cash FlowOCF − Capex | $313.0M | — |
| FCF MarginFCF / Revenue | 16.7% | — |
| Capex IntensityCapex / Revenue | 12.1% | — |
| Cash ConversionOCF / Net Profit | 1.09× | 3.31× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $76.1M | ||
| Q3 25 | $1.1B | $104.7M | ||
| Q2 25 | $563.0M | $37.5M | ||
| Q1 25 | $586.0M | $10.9M | ||
| Q4 24 | $420.0M | $54.2M | ||
| Q3 24 | $931.0M | $62.2M | ||
| Q2 24 | $475.0M | $147.0M | ||
| Q1 24 | $445.0M | $104.1M |
| Q4 25 | $313.0M | — | ||
| Q3 25 | $717.0M | — | ||
| Q2 25 | $318.0M | — | ||
| Q1 25 | $454.0M | — | ||
| Q4 24 | $223.0M | — | ||
| Q3 24 | $792.0M | — | ||
| Q2 24 | $391.0M | — | ||
| Q1 24 | $347.0M | — |
| Q4 25 | 16.7% | — | ||
| Q3 25 | 43.2% | — | ||
| Q2 25 | 16.8% | — | ||
| Q1 25 | 27.3% | — | ||
| Q4 24 | 14.6% | — | ||
| Q3 24 | 57.8% | — | ||
| Q2 24 | 24.9% | — | ||
| Q1 24 | 23.6% | — |
| Q4 25 | 12.1% | — | ||
| Q3 25 | 20.9% | — | ||
| Q2 25 | 13.0% | — | ||
| Q1 25 | 7.9% | — | ||
| Q4 24 | 12.9% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 5.3% | — | ||
| Q1 24 | 6.7% | — |
| Q4 25 | 1.09× | 3.31× | ||
| Q3 25 | 2.31× | 2.86× | ||
| Q2 25 | 1.14× | 6.70× | ||
| Q1 25 | 1.67× | — | ||
| Q4 24 | 1.07× | 47.68× | ||
| Q3 24 | 2.73× | 1.49× | ||
| Q2 24 | 0.94× | 2.08× | ||
| Q1 24 | 1.87× | 0.76× |
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% |
HCC
| Mining Segment | $373.6M | 97% |
| Other | $10.4M | 3% |
