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Side-by-side financial comparison of CF Industries (CF) and Jefferies Financial Group Inc. (JEF). 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× Jefferies Financial Group Inc.). CF Industries runs the higher net margin — 26.4% vs 12.6%, a 13.8% gap on every dollar of revenue. Jefferies Financial Group Inc. produced more free cash flow last quarter ($1.9B vs $313.0M).
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.
Jefferies Financial Group Inc. is an American financial services company based in New York City. It is listed on the New York Stock Exchange and is a part of the Fortune 1000.
CF vs JEF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.7B |
| Net Profit | $495.0M | $211.3M |
| Gross Margin | 40.9% | 95.7% |
| Operating Margin | 33.0% | 15.2% |
| Net Margin | 26.4% | 12.6% |
| Revenue YoY | 22.8% | — |
| Net Profit YoY | 26.3% | — |
| EPS (diluted) | $2.56 | $0.85 |
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 | $1.5B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.7B | $1.1B | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.6B | $1.0B | ||
| Q1 24 | $1.5B | $971.2M |
| Q4 25 | $495.0M | $211.3M | ||
| Q3 25 | $460.0M | $242.5M | ||
| Q2 25 | $492.0M | $91.4M | ||
| Q1 25 | $351.0M | $136.8M | ||
| Q4 24 | $392.0M | — | ||
| Q3 24 | $341.0M | $181.0M | ||
| Q2 24 | $506.0M | $154.7M | ||
| Q1 24 | $238.0M | $156.4M |
| Q4 25 | 40.9% | 95.7% | ||
| Q3 25 | 38.1% | 97.7% | ||
| Q2 25 | 39.9% | 96.5% | ||
| Q1 25 | 34.4% | 96.4% | ||
| Q4 24 | 34.4% | — | ||
| Q3 24 | 32.4% | 96.9% | ||
| Q2 24 | 43.2% | 96.4% | ||
| Q1 24 | 27.8% | 96.4% |
| Q4 25 | 33.0% | 15.2% | ||
| Q3 25 | 35.0% | 22.1% | ||
| Q2 25 | 34.3% | 11.0% | ||
| Q1 25 | 27.4% | 13.2% | ||
| Q4 24 | 28.9% | — | ||
| Q3 24 | 26.6% | 20.7% | ||
| Q2 24 | 40.6% | 22.0% | ||
| Q1 24 | 20.6% | 22.7% |
| Q4 25 | 26.4% | 12.6% | ||
| Q3 25 | 27.7% | 16.1% | ||
| Q2 25 | 26.0% | 7.4% | ||
| Q1 25 | 21.1% | 12.0% | ||
| Q4 24 | 25.7% | — | ||
| Q3 24 | 24.9% | 14.8% | ||
| Q2 24 | 32.2% | 14.9% | ||
| Q1 24 | 16.2% | 16.1% |
| Q4 25 | $2.56 | $0.85 | ||
| Q3 25 | $2.19 | $1.01 | ||
| Q2 25 | $2.37 | $0.40 | ||
| Q1 25 | $1.85 | $0.57 | ||
| Q4 24 | $1.86 | — | ||
| Q3 24 | $1.55 | $0.75 | ||
| Q2 24 | $2.30 | $0.64 | ||
| Q1 24 | $1.03 | $0.66 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $14.0B |
| Total DebtLower is stronger | $3.2B | $15.9B |
| Stockholders' EquityBook value | $4.8B | $10.6B |
| Total Assets | $14.1B | $76.0B |
| Debt / EquityLower = less leverage | 0.66× | 1.50× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $14.0B | ||
| Q3 25 | — | $11.5B | ||
| Q2 25 | — | $11.3B | ||
| Q1 25 | — | $11.2B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $10.6B | ||
| Q2 24 | — | $10.8B | ||
| Q1 24 | — | $7.6B |
| Q4 25 | $3.2B | $15.9B | ||
| Q3 25 | $3.0B | $16.0B | ||
| Q2 25 | $3.0B | $15.4B | ||
| Q1 25 | $3.0B | $14.8B | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $3.0B | $12.9B | ||
| Q2 24 | $3.0B | $12.7B | ||
| Q1 24 | $3.0B | $9.9B |
| Q4 25 | $4.8B | $10.6B | ||
| Q3 25 | $4.8B | $10.4B | ||
| Q2 25 | $5.0B | $10.3B | ||
| Q1 25 | $4.8B | $10.2B | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $5.2B | $10.0B | ||
| Q2 24 | $5.5B | $9.9B | ||
| Q1 24 | $5.4B | $9.8B |
| Q4 25 | $14.1B | $76.0B | ||
| Q3 25 | $14.2B | $69.3B | ||
| Q2 25 | $13.8B | $67.3B | ||
| Q1 25 | $13.3B | $70.2B | ||
| Q4 24 | $13.5B | — | ||
| Q3 24 | $13.8B | $63.3B | ||
| Q2 24 | $13.8B | $63.0B | ||
| Q1 24 | $13.9B | $60.9B |
| Q4 25 | 0.66× | 1.50× | ||
| Q3 25 | 0.61× | 1.53× | ||
| Q2 25 | 0.60× | 1.49× | ||
| Q1 25 | 0.62× | 1.45× | ||
| Q4 24 | 0.60× | — | ||
| Q3 24 | 0.57× | 1.29× | ||
| Q2 24 | 0.54× | 1.28× | ||
| Q1 24 | 0.55× | 1.01× |
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 | $2.0B |
| Free Cash FlowOCF − Capex | $313.0M | $1.9B |
| FCF MarginFCF / Revenue | 16.7% | 114.2% |
| Capex IntensityCapex / Revenue | 12.1% | 3.4% |
| Cash ConversionOCF / Net Profit | 1.09× | 9.30× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $-1.7B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $2.0B | ||
| Q3 25 | $1.1B | $184.2M | ||
| Q2 25 | $563.0M | $-978.3M | ||
| Q1 25 | $586.0M | $-2.7B | ||
| Q4 24 | $420.0M | — | ||
| Q3 24 | $931.0M | — | ||
| Q2 24 | $475.0M | — | ||
| Q1 24 | $445.0M | $-1.3B |
| Q4 25 | $313.0M | $1.9B | ||
| Q3 25 | $717.0M | $126.0M | ||
| Q2 25 | $318.0M | $-1.0B | ||
| Q1 25 | $454.0M | $-2.7B | ||
| Q4 24 | $223.0M | — | ||
| Q3 24 | $792.0M | — | ||
| Q2 24 | $391.0M | — | ||
| Q1 24 | $347.0M | $-1.4B |
| Q4 25 | 16.7% | 114.2% | ||
| Q3 25 | 43.2% | 8.4% | ||
| Q2 25 | 16.8% | -83.3% | ||
| Q1 25 | 27.3% | -237.2% | ||
| Q4 24 | 14.6% | — | ||
| Q3 24 | 57.8% | — | ||
| Q2 24 | 24.9% | — | ||
| Q1 24 | 23.6% | -139.4% |
| Q4 25 | 12.1% | 3.4% | ||
| Q3 25 | 20.9% | 3.9% | ||
| Q2 25 | 13.0% | 3.6% | ||
| Q1 25 | 7.9% | 4.3% | ||
| Q4 24 | 12.9% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 5.3% | — | ||
| Q1 24 | 6.7% | 9.9% |
| Q4 25 | 1.09× | 9.30× | ||
| Q3 25 | 2.31× | 0.76× | ||
| Q2 25 | 1.14× | -10.70× | ||
| Q1 25 | 1.67× | -19.48× | ||
| Q4 24 | 1.07× | — | ||
| Q3 24 | 2.73× | — | ||
| Q2 24 | 0.94× | — | ||
| Q1 24 | 1.87× | -8.04× |
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% |
JEF
| Investment Banking Underwriting | $555.6M | 33% |
| Principal Transactions Revenue | $378.3M | 23% |
| Commissions And Other Fees | $356.0M | 21% |
| Other | $177.8M | 11% |
| Internet Connection And Boadband Revenue | $57.0M | 3% |
| Other Sources Of Revenue Miscellaneous | $53.3M | 3% |
| Real Estate | $50.7M | 3% |
| Strategic Affiliates Revenue | $13.8M | 1% |
| Asset Management1 | $12.1M | 1% |
| Fixed Income Services | $1.6M | 0% |
