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Side-by-side financial comparison of CF Industries (CF) and Organon & Co. (OGN). 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× Organon & Co.). CF Industries runs the higher net margin — 26.4% vs -13.6%, a 40.0% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs -5.3%). CF Industries produced more free cash flow last quarter ($313.0M vs $96.0M). Over the past eight quarters, CF Industries's revenue compounded faster (12.8% CAGR vs -3.6%).
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.
Organon & Co. is an American pharmaceutical company headquartered in Jersey City, New Jersey. Organon specializes in the following core therapeutic fields: reproductive medicine, contraception, psychiatry, hormone replacement therapy (HRT), and anesthesia. Organon produces all its products outside of the United States but receives a third of its revenue from the United States.
CF vs OGN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.5B |
| Net Profit | $495.0M | $-205.0M |
| Gross Margin | 40.9% | 49.2% |
| Operating Margin | 33.0% | -9.8% |
| Net Margin | 26.4% | -13.6% |
| Revenue YoY | 22.8% | -5.3% |
| Net Profit YoY | 26.3% | -288.1% |
| EPS (diluted) | $2.56 | $-0.78 |
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 | $1.6B | ||
| Q1 25 | $1.7B | $1.5B | ||
| Q4 24 | $1.5B | $1.6B | ||
| Q3 24 | $1.4B | $1.6B | ||
| Q2 24 | $1.6B | $1.6B | ||
| Q1 24 | $1.5B | $1.6B |
| Q4 25 | $495.0M | $-205.0M | ||
| Q3 25 | $460.0M | $160.0M | ||
| Q2 25 | $492.0M | $145.0M | ||
| Q1 25 | $351.0M | $87.0M | ||
| Q4 24 | $392.0M | $109.0M | ||
| Q3 24 | $341.0M | $359.0M | ||
| Q2 24 | $506.0M | $195.0M | ||
| Q1 24 | $238.0M | $201.0M |
| Q4 25 | 40.9% | 49.2% | ||
| Q3 25 | 38.1% | 53.5% | ||
| Q2 25 | 39.9% | 54.8% | ||
| Q1 25 | 34.4% | 55.6% | ||
| Q4 24 | 34.4% | 56.3% | ||
| Q3 24 | 32.4% | 58.3% | ||
| Q2 24 | 43.2% | 58.4% | ||
| Q1 24 | 27.8% | 59.0% |
| Q4 25 | 33.0% | -9.8% | ||
| Q3 25 | 35.0% | 15.2% | ||
| Q2 25 | 34.3% | 14.4% | ||
| Q1 25 | 27.4% | 6.7% | ||
| Q4 24 | 28.9% | 8.1% | ||
| Q3 24 | 26.6% | 13.1% | ||
| Q2 24 | 40.6% | 14.6% | ||
| Q1 24 | 20.6% | 14.5% |
| Q4 25 | 26.4% | -13.6% | ||
| Q3 25 | 27.7% | 10.0% | ||
| Q2 25 | 26.0% | 9.1% | ||
| Q1 25 | 21.1% | 5.8% | ||
| Q4 24 | 25.7% | 6.8% | ||
| Q3 24 | 24.9% | 22.7% | ||
| Q2 24 | 32.2% | 12.1% | ||
| Q1 24 | 16.2% | 12.4% |
| Q4 25 | $2.56 | $-0.78 | ||
| Q3 25 | $2.19 | $0.61 | ||
| Q2 25 | $2.37 | $0.56 | ||
| Q1 25 | $1.85 | $0.33 | ||
| Q4 24 | $1.86 | $0.42 | ||
| Q3 24 | $1.55 | $1.38 | ||
| Q2 24 | $2.30 | $0.75 | ||
| Q1 24 | $1.03 | $0.78 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $574.0M |
| Total DebtLower is stronger | $3.2B | $8.6B |
| Stockholders' EquityBook value | $4.8B | $752.0M |
| Total Assets | $14.1B | $12.9B |
| Debt / EquityLower = less leverage | 0.66× | 11.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $574.0M | ||
| Q3 25 | — | $672.0M | ||
| Q2 25 | — | $599.0M | ||
| Q1 25 | — | $547.0M | ||
| Q4 24 | — | $675.0M | ||
| Q3 24 | — | $763.0M | ||
| Q2 24 | — | $704.0M | ||
| Q1 24 | — | $575.0M |
| Q4 25 | $3.2B | $8.6B | ||
| Q3 25 | $3.0B | $8.8B | ||
| Q2 25 | $3.0B | $8.9B | ||
| Q1 25 | $3.0B | $9.0B | ||
| Q4 24 | $3.0B | $8.9B | ||
| Q3 24 | $3.0B | $8.7B | ||
| Q2 24 | $3.0B | $8.7B | ||
| Q1 24 | $3.0B | $8.7B |
| Q4 25 | $4.8B | $752.0M | ||
| Q3 25 | $4.8B | $906.0M | ||
| Q2 25 | $5.0B | $733.0M | ||
| Q1 25 | $4.8B | $542.0M | ||
| Q4 24 | $5.0B | $472.0M | ||
| Q3 24 | $5.2B | $493.0M | ||
| Q2 24 | $5.5B | $144.0M | ||
| Q1 24 | $5.4B | $48.0M |
| Q4 25 | $14.1B | $12.9B | ||
| Q3 25 | $14.2B | $13.6B | ||
| Q2 25 | $13.8B | $13.5B | ||
| Q1 25 | $13.3B | $13.2B | ||
| Q4 24 | $13.5B | $13.1B | ||
| Q3 24 | $13.8B | $12.8B | ||
| Q2 24 | $13.8B | $12.2B | ||
| Q1 24 | $13.9B | $11.9B |
| Q4 25 | 0.66× | 11.49× | ||
| Q3 25 | 0.61× | 9.74× | ||
| Q2 25 | 0.60× | 12.14× | ||
| Q1 25 | 0.62× | 16.52× | ||
| Q4 24 | 0.60× | 18.81× | ||
| Q3 24 | 0.57× | 17.75× | ||
| Q2 24 | 0.54× | 60.11× | ||
| Q1 24 | 0.55× | 181.54× |
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 | $141.0M |
| Free Cash FlowOCF − Capex | $313.0M | $96.0M |
| FCF MarginFCF / Revenue | 16.7% | 6.4% |
| Capex IntensityCapex / Revenue | 12.1% | 3.0% |
| Cash ConversionOCF / Net Profit | 1.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $538.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $141.0M | ||
| Q3 25 | $1.1B | $264.0M | ||
| Q2 25 | $563.0M | $220.0M | ||
| Q1 25 | $586.0M | $75.0M | ||
| Q4 24 | $420.0M | $390.0M | ||
| Q3 24 | $931.0M | $141.0M | ||
| Q2 24 | $475.0M | $332.0M | ||
| Q1 24 | $445.0M | $76.0M |
| Q4 25 | $313.0M | $96.0M | ||
| Q3 25 | $717.0M | $218.0M | ||
| Q2 25 | $318.0M | $181.0M | ||
| Q1 25 | $454.0M | $43.0M | ||
| Q4 24 | $223.0M | $335.0M | ||
| Q3 24 | $792.0M | $99.0M | ||
| Q2 24 | $391.0M | $300.0M | ||
| Q1 24 | $347.0M | $30.0M |
| Q4 25 | 16.7% | 6.4% | ||
| Q3 25 | 43.2% | 13.6% | ||
| Q2 25 | 16.8% | 11.4% | ||
| Q1 25 | 27.3% | 2.8% | ||
| Q4 24 | 14.6% | 21.0% | ||
| Q3 24 | 57.8% | 6.3% | ||
| Q2 24 | 24.9% | 18.7% | ||
| Q1 24 | 23.6% | 1.8% |
| Q4 25 | 12.1% | 3.0% | ||
| Q3 25 | 20.9% | 2.9% | ||
| Q2 25 | 13.0% | 2.4% | ||
| Q1 25 | 7.9% | 2.1% | ||
| Q4 24 | 12.9% | 3.5% | ||
| Q3 24 | 10.1% | 2.7% | ||
| Q2 24 | 5.3% | 2.0% | ||
| Q1 24 | 6.7% | 2.8% |
| Q4 25 | 1.09× | — | ||
| Q3 25 | 2.31× | 1.65× | ||
| Q2 25 | 1.14× | 1.52× | ||
| Q1 25 | 1.67× | 0.86× | ||
| Q4 24 | 1.07× | 3.58× | ||
| Q3 24 | 2.73× | 0.39× | ||
| Q2 24 | 0.94× | 1.70× | ||
| 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% |
OGN
Segment breakdown not available.
