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Side-by-side financial comparison of CF Industries (CF) and MERCURY GENERAL CORP (MCY). Click either name above to swap in a different company.
CF Industries is the larger business by last-quarter revenue ($1.9B vs $1.5B, roughly 1.2× MERCURY GENERAL CORP). CF Industries runs the higher net margin — 26.4% vs 13.2%, a 13.3% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs 12.4%). CF Industries produced more free cash flow last quarter ($313.0M vs $273.9M). Over the past eight quarters, CF Industries's revenue compounded faster (12.8% CAGR vs 9.8%).
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.
Mercury General Corporation is a multiple-line insurance organization that offers personal automobiles, homeowners, renters, and business insurance. Mercury's primary focus is automobiles and homeowners' insurance.
CF vs MCY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.5B |
| Net Profit | $495.0M | $202.5M |
| Gross Margin | 40.9% | 99.7% |
| Operating Margin | 33.0% | 16.2% |
| Net Margin | 26.4% | 13.2% |
| Revenue YoY | 22.8% | 12.4% |
| Net Profit YoY | 26.3% | 100.4% |
| EPS (diluted) | $2.56 | $3.66 |
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 | $1.5B | ||
| Q3 25 | $1.7B | $1.6B | ||
| Q2 25 | $1.9B | $1.5B | ||
| Q1 25 | $1.7B | $1.4B | ||
| Q4 24 | $1.5B | $1.4B | ||
| Q3 24 | $1.4B | $1.5B | ||
| Q2 24 | $1.6B | $1.3B | ||
| Q1 24 | $1.5B | $1.3B |
| Q4 25 | $495.0M | $202.5M | ||
| Q3 25 | $460.0M | $280.4M | ||
| Q2 25 | $492.0M | $166.5M | ||
| Q1 25 | $351.0M | $-108.3M | ||
| Q4 24 | $392.0M | $101.1M | ||
| Q3 24 | $341.0M | $230.9M | ||
| Q2 24 | $506.0M | $62.6M | ||
| Q1 24 | $238.0M | $73.5M |
| Q4 25 | 40.9% | 99.7% | ||
| Q3 25 | 38.1% | 99.8% | ||
| Q2 25 | 39.9% | 99.8% | ||
| Q1 25 | 34.4% | 99.7% | ||
| Q4 24 | 34.4% | 99.7% | ||
| Q3 24 | 32.4% | 99.8% | ||
| Q2 24 | 43.2% | 99.8% | ||
| Q1 24 | 27.8% | 99.7% |
| Q4 25 | 33.0% | 16.2% | ||
| Q3 25 | 35.0% | 22.1% | ||
| Q2 25 | 34.3% | 14.0% | ||
| Q1 25 | 27.4% | -10.2% | ||
| Q4 24 | 28.9% | 9.0% | ||
| Q3 24 | 26.6% | 18.8% | ||
| Q2 24 | 40.6% | 5.8% | ||
| Q1 24 | 20.6% | 7.0% |
| Q4 25 | 26.4% | 13.2% | ||
| Q3 25 | 27.7% | 17.7% | ||
| Q2 25 | 26.0% | 11.3% | ||
| Q1 25 | 21.1% | -7.8% | ||
| Q4 24 | 25.7% | 7.4% | ||
| Q3 24 | 24.9% | 15.1% | ||
| Q2 24 | 32.2% | 4.8% | ||
| Q1 24 | 16.2% | 5.8% |
| Q4 25 | $2.56 | $3.66 | ||
| Q3 25 | $2.19 | $5.06 | ||
| Q2 25 | $2.37 | $3.01 | ||
| Q1 25 | $1.85 | $-1.96 | ||
| Q4 24 | $1.86 | $1.82 | ||
| Q3 24 | $1.55 | $4.17 | ||
| Q2 24 | $2.30 | $1.13 | ||
| Q1 24 | $1.03 | $1.33 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | $3.2B | $575.0M |
| Stockholders' EquityBook value | $4.8B | $2.4B |
| Total Assets | $14.1B | $9.6B |
| Debt / EquityLower = less leverage | 0.66× | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.2B | $575.0M | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | $575.0M | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $3.0B | — |
| Q4 25 | $4.8B | $2.4B | ||
| Q3 25 | $4.8B | $2.2B | ||
| Q2 25 | $5.0B | $2.0B | ||
| Q1 25 | $4.8B | $1.8B | ||
| Q4 24 | $5.0B | $1.9B | ||
| Q3 24 | $5.2B | $1.9B | ||
| Q2 24 | $5.5B | $1.6B | ||
| Q1 24 | $5.4B | $1.6B |
| Q4 25 | $14.1B | $9.6B | ||
| Q3 25 | $14.2B | $9.4B | ||
| Q2 25 | $13.8B | $9.1B | ||
| Q1 25 | $13.3B | $9.0B | ||
| Q4 24 | $13.5B | $8.3B | ||
| Q3 24 | $13.8B | $8.2B | ||
| Q2 24 | $13.8B | $7.7B | ||
| Q1 24 | $13.9B | $7.4B |
| Q4 25 | 0.66× | 0.24× | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.60× | 0.30× | ||
| 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 | $287.9M |
| Free Cash FlowOCF − Capex | $313.0M | $273.9M |
| FCF MarginFCF / Revenue | 16.7% | 17.8% |
| Capex IntensityCapex / Revenue | 12.1% | 0.9% |
| Cash ConversionOCF / Net Profit | 1.09× | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $1.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $287.9M | ||
| Q3 25 | $1.1B | $496.4M | ||
| Q2 25 | $563.0M | $371.6M | ||
| Q1 25 | $586.0M | $-68.7M | ||
| Q4 24 | $420.0M | $248.3M | ||
| Q3 24 | $931.0M | $318.1M | ||
| Q2 24 | $475.0M | $278.0M | ||
| Q1 24 | $445.0M | $192.6M |
| Q4 25 | $313.0M | $273.9M | ||
| Q3 25 | $717.0M | $479.5M | ||
| Q2 25 | $318.0M | $357.2M | ||
| Q1 25 | $454.0M | $-81.9M | ||
| Q4 24 | $223.0M | $236.0M | ||
| Q3 24 | $792.0M | $306.2M | ||
| Q2 24 | $391.0M | $266.5M | ||
| Q1 24 | $347.0M | $182.4M |
| Q4 25 | 16.7% | 17.8% | ||
| Q3 25 | 43.2% | 30.3% | ||
| Q2 25 | 16.8% | 24.2% | ||
| Q1 25 | 27.3% | -5.9% | ||
| Q4 24 | 14.6% | 17.3% | ||
| Q3 24 | 57.8% | 20.0% | ||
| Q2 24 | 24.9% | 20.4% | ||
| Q1 24 | 23.6% | 14.3% |
| Q4 25 | 12.1% | 0.9% | ||
| Q3 25 | 20.9% | 1.1% | ||
| Q2 25 | 13.0% | 1.0% | ||
| Q1 25 | 7.9% | 0.9% | ||
| Q4 24 | 12.9% | 0.9% | ||
| Q3 24 | 10.1% | 0.8% | ||
| Q2 24 | 5.3% | 0.9% | ||
| Q1 24 | 6.7% | 0.8% |
| Q4 25 | 1.09× | 1.42× | ||
| Q3 25 | 2.31× | 1.77× | ||
| Q2 25 | 1.14× | 2.23× | ||
| Q1 25 | 1.67× | — | ||
| Q4 24 | 1.07× | 2.46× | ||
| Q3 24 | 2.73× | 1.38× | ||
| Q2 24 | 0.94× | 4.44× | ||
| Q1 24 | 1.87× | 2.62× |
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% |
MCY
Segment breakdown not available.
