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Side-by-side financial comparison of CF Industries (CF) and Invesco (IVZ). Click either name above to swap in a different company.
CF Industries is the larger business by last-quarter revenue ($1.9B vs $1.7B, roughly 1.1× Invesco). CF Industries runs the higher net margin — 26.4% vs -58.9%, a 85.3% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs 6.2%). Invesco produced more free cash flow last quarter ($432.2M vs $313.0M). Over the past eight quarters, CF Industries's revenue compounded faster (12.8% CAGR vs 7.1%).
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.
Invesco Ltd. is an American independent investment management company headquartered in Atlanta, Georgia, with branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York Stock Exchange. Invesco operates under the Invesco, Invesco Perpetual, and Powershares brand names.
CF vs IVZ — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.7B |
| Net Profit | $495.0M | $-995.9M |
| Gross Margin | 40.9% | — |
| Operating Margin | 33.0% | -86.2% |
| Net Margin | 26.4% | -58.9% |
| Revenue YoY | 22.8% | 6.2% |
| Net Profit YoY | 26.3% | -575.8% |
| EPS (diluted) | $2.56 | $-2.61 |
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 | $1.7B | ||
| Q3 25 | $1.7B | $1.6B | ||
| 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 | $1.5B | ||
| Q1 24 | $1.5B | $1.5B |
| Q4 25 | $495.0M | $-995.9M | ||
| Q3 25 | $460.0M | $356.4M | ||
| Q2 25 | $492.0M | $197.4M | ||
| Q1 25 | $351.0M | $171.1M | ||
| Q4 24 | $392.0M | $209.3M | ||
| Q3 24 | $341.0M | $55.0M | ||
| Q2 24 | $506.0M | $132.2M | ||
| Q1 24 | $238.0M | $141.5M |
| 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% | -86.2% | ||
| Q3 25 | 35.0% | 16.5% | ||
| Q2 25 | 34.3% | 14.1% | ||
| Q1 25 | 27.4% | 18.1% | ||
| Q4 24 | 28.9% | 19.6% | ||
| Q3 24 | 26.6% | 6.6% | ||
| Q2 24 | 40.6% | 13.9% | ||
| Q1 24 | 20.6% | 14.4% |
| Q4 25 | 26.4% | -58.9% | ||
| Q3 25 | 27.7% | 21.7% | ||
| Q2 25 | 26.0% | 13.0% | ||
| Q1 25 | 21.1% | 11.2% | ||
| Q4 24 | 25.7% | 13.1% | ||
| Q3 24 | 24.9% | 3.6% | ||
| Q2 24 | 32.2% | 8.9% | ||
| Q1 24 | 16.2% | 9.6% |
| Q4 25 | $2.56 | $-2.61 | ||
| Q3 25 | $2.19 | $0.66 | ||
| Q2 25 | $2.37 | $-0.03 | ||
| Q1 25 | $1.85 | $0.38 | ||
| Q4 24 | $1.86 | $0.46 | ||
| Q3 24 | $1.55 | $0.12 | ||
| Q2 24 | $2.30 | $0.29 | ||
| Q1 24 | $1.03 | $0.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.0B |
| Total DebtLower is stronger | $3.2B | $1.8B |
| Stockholders' EquityBook value | $4.8B | $12.2B |
| Total Assets | $14.1B | $27.1B |
| Debt / EquityLower = less leverage | 0.66× | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $973.1M | ||
| Q2 25 | — | $922.7M | ||
| Q1 25 | — | $821.7M | ||
| Q4 24 | — | $986.5M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $878.5M | ||
| Q1 24 | — | $895.7M |
| Q4 25 | $3.2B | $1.8B | ||
| Q3 25 | $3.0B | $1.6B | ||
| Q2 25 | $3.0B | $1.9B | ||
| Q1 25 | $3.0B | $964.8M | ||
| Q4 24 | $3.0B | $890.6M | ||
| Q3 24 | $3.0B | $890.3M | ||
| Q2 24 | $3.0B | $890.1M | ||
| Q1 24 | $3.0B | $1.3B |
| Q4 25 | $4.8B | $12.2B | ||
| Q3 25 | $4.8B | $14.0B | ||
| Q2 25 | $5.0B | $13.9B | ||
| Q1 25 | $4.8B | $14.7B | ||
| Q4 24 | $5.0B | $14.6B | ||
| Q3 24 | $5.2B | $14.8B | ||
| Q2 24 | $5.5B | $14.6B | ||
| Q1 24 | $5.4B | $14.6B |
| Q4 25 | $14.1B | $27.1B | ||
| Q3 25 | $14.2B | $28.4B | ||
| Q2 25 | $13.8B | $28.5B | ||
| Q1 25 | $13.3B | $28.1B | ||
| Q4 24 | $13.5B | $27.0B | ||
| Q3 24 | $13.8B | $27.5B | ||
| Q2 24 | $13.8B | $27.2B | ||
| Q1 24 | $13.9B | $28.1B |
| Q4 25 | 0.66× | 0.15× | ||
| Q3 25 | 0.61× | 0.12× | ||
| Q2 25 | 0.60× | 0.14× | ||
| Q1 25 | 0.62× | 0.07× | ||
| Q4 24 | 0.60× | 0.06× | ||
| Q3 24 | 0.57× | 0.06× | ||
| Q2 24 | 0.54× | 0.06× | ||
| Q1 24 | 0.55× | 0.09× |
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 | $455.8M |
| Free Cash FlowOCF − Capex | $313.0M | $432.2M |
| FCF MarginFCF / Revenue | 16.7% | 25.5% |
| Capex IntensityCapex / Revenue | 12.1% | 1.4% |
| Cash ConversionOCF / Net Profit | 1.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $455.8M | ||
| Q3 25 | $1.1B | $606.2M | ||
| Q2 25 | $563.0M | $547.9M | ||
| Q1 25 | $586.0M | $-84.6M | ||
| Q4 24 | $420.0M | $316.9M | ||
| Q3 24 | $931.0M | $438.4M | ||
| Q2 24 | $475.0M | $489.1M | ||
| Q1 24 | $445.0M | $-54.4M |
| Q4 25 | $313.0M | $432.2M | ||
| Q3 25 | $717.0M | $586.4M | ||
| Q2 25 | $318.0M | $530.4M | ||
| Q1 25 | $454.0M | $-108.0M | ||
| Q4 24 | $223.0M | $309.9M | ||
| Q3 24 | $792.0M | $410.0M | ||
| Q2 24 | $391.0M | $462.4M | ||
| Q1 24 | $347.0M | $-75.4M |
| Q4 25 | 16.7% | 25.5% | ||
| Q3 25 | 43.2% | 35.7% | ||
| Q2 25 | 16.8% | 35.0% | ||
| Q1 25 | 27.3% | -7.1% | ||
| Q4 24 | 14.6% | 19.5% | ||
| Q3 24 | 57.8% | 27.1% | ||
| Q2 24 | 24.9% | 31.2% | ||
| Q1 24 | 23.6% | -5.1% |
| Q4 25 | 12.1% | 1.4% | ||
| Q3 25 | 20.9% | 1.2% | ||
| Q2 25 | 13.0% | 1.2% | ||
| Q1 25 | 7.9% | 1.5% | ||
| Q4 24 | 12.9% | 0.4% | ||
| Q3 24 | 10.1% | 1.9% | ||
| Q2 24 | 5.3% | 1.8% | ||
| Q1 24 | 6.7% | 1.4% |
| Q4 25 | 1.09× | — | ||
| Q3 25 | 2.31× | 1.70× | ||
| Q2 25 | 1.14× | 2.78× | ||
| Q1 25 | 1.67× | -0.49× | ||
| Q4 24 | 1.07× | 1.51× | ||
| Q3 24 | 2.73× | 7.97× | ||
| Q2 24 | 0.94× | 3.70× | ||
| Q1 24 | 1.87× | -0.38× |
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% |
IVZ
| Investment Advice | $1.2B | 73% |
| Distribution And Shareholder Service | $382.7M | 23% |
| Financial Service Other | $51.0M | 3% |
| Investment Performance | $28.9M | 2% |
