vs
Side-by-side financial comparison of CF Industries (CF) and ON Semiconductor (ON). Click either name above to swap in a different company.
CF Industries is the larger business by last-quarter revenue ($1.9B vs $1.6B, roughly 1.2× ON Semiconductor). CF Industries runs the higher net margin — 26.4% vs 16.4%, a 10.0% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs -10.0%). ON Semiconductor produced more free cash flow last quarter ($372.4M vs $313.0M). Over the past eight quarters, CF Industries's revenue compounded faster (12.8% CAGR vs -12.3%).
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.
Fairchild Semiconductor International, Inc. was an American semiconductor company based in San Jose, California. It was founded in 1957 as a division of Fairchild Camera and Instrument by the "traitorous eight" who defected from Shockley Semiconductor Laboratory. It became a pioneer in the manufacturing of transistors and of integrated circuits. Schlumberger bought the firm in 1979 and sold it to National Semiconductor in 1987; Fairchild was spun off as an independent company again in 1997. I...
CF vs ON — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.6B |
| Net Profit | $495.0M | $255.0M |
| Gross Margin | 40.9% | 37.9% |
| Operating Margin | 33.0% | 17.0% |
| Net Margin | 26.4% | 16.4% |
| Revenue YoY | 22.8% | -10.0% |
| Net Profit YoY | 26.3% | -32.9% |
| EPS (diluted) | $2.56 | $0.63 |
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 | $1.6B | ||
| Q3 25 | $1.7B | $1.5B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.5B | $1.7B | ||
| Q3 24 | $1.4B | $1.8B | ||
| Q2 24 | $1.6B | $1.7B | ||
| Q1 24 | $1.5B | $1.9B |
| Q4 25 | $495.0M | $255.0M | ||
| Q3 25 | $460.0M | $170.3M | ||
| Q2 25 | $492.0M | $-486.1M | ||
| Q1 25 | $351.0M | — | ||
| Q4 24 | $392.0M | $379.9M | ||
| Q3 24 | $341.0M | $401.7M | ||
| Q2 24 | $506.0M | $338.2M | ||
| Q1 24 | $238.0M | $453.0M |
| Q4 25 | 40.9% | 37.9% | ||
| Q3 25 | 38.1% | 37.6% | ||
| Q2 25 | 39.9% | 20.3% | ||
| Q1 25 | 34.4% | — | ||
| Q4 24 | 34.4% | 45.2% | ||
| Q3 24 | 32.4% | 45.4% | ||
| Q2 24 | 43.2% | 45.2% | ||
| Q1 24 | 27.8% | 45.8% |
| Q4 25 | 33.0% | 17.0% | ||
| Q3 25 | 35.0% | 13.2% | ||
| Q2 25 | 34.3% | -39.7% | ||
| Q1 25 | 27.4% | — | ||
| Q4 24 | 28.9% | 23.7% | ||
| Q3 24 | 26.6% | 25.3% | ||
| Q2 24 | 40.6% | 22.4% | ||
| Q1 24 | 20.6% | 28.2% |
| Q4 25 | 26.4% | 16.4% | ||
| Q3 25 | 27.7% | 11.6% | ||
| Q2 25 | 26.0% | -33.6% | ||
| Q1 25 | 21.1% | — | ||
| Q4 24 | 25.7% | 22.1% | ||
| Q3 24 | 24.9% | 22.8% | ||
| Q2 24 | 32.2% | 19.5% | ||
| Q1 24 | 16.2% | 24.3% |
| Q4 25 | $2.56 | $0.63 | ||
| Q3 25 | $2.19 | $0.41 | ||
| Q2 25 | $2.37 | $-1.15 | ||
| Q1 25 | $1.85 | — | ||
| Q4 24 | $1.86 | $0.88 | ||
| Q3 24 | $1.55 | $0.93 | ||
| Q2 24 | $2.30 | $0.78 | ||
| Q1 24 | $1.03 | $1.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $2.9B |
| Total DebtLower is stronger | $3.2B | $3.4B |
| Stockholders' EquityBook value | $4.8B | $7.9B |
| Total Assets | $14.1B | $13.0B |
| Debt / EquityLower = less leverage | 0.66× | 0.43× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.9B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.6B |
| Q4 25 | $3.2B | $3.4B | ||
| Q3 25 | $3.0B | $3.4B | ||
| Q2 25 | $3.0B | $3.4B | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | $3.4B | ||
| Q3 24 | $3.0B | $3.4B | ||
| Q2 24 | $3.0B | $3.4B | ||
| Q1 24 | $3.0B | $3.4B |
| Q4 25 | $4.8B | $7.9B | ||
| Q3 25 | $4.8B | $7.9B | ||
| Q2 25 | $5.0B | $8.0B | ||
| Q1 25 | $4.8B | — | ||
| Q4 24 | $5.0B | $8.8B | ||
| Q3 24 | $5.2B | $8.6B | ||
| Q2 24 | $5.5B | $8.3B | ||
| Q1 24 | $5.4B | $8.1B |
| Q4 25 | $14.1B | $13.0B | ||
| Q3 25 | $14.2B | $13.1B | ||
| Q2 25 | $13.8B | $13.3B | ||
| Q1 25 | $13.3B | — | ||
| Q4 24 | $13.5B | $14.1B | ||
| Q3 24 | $13.8B | $13.9B | ||
| Q2 24 | $13.8B | $13.7B | ||
| Q1 24 | $13.9B | $13.5B |
| Q4 25 | 0.66× | 0.43× | ||
| Q3 25 | 0.61× | 0.43× | ||
| Q2 25 | 0.60× | 0.42× | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.60× | 0.38× | ||
| Q3 24 | 0.57× | 0.39× | ||
| Q2 24 | 0.54× | 0.41× | ||
| Q1 24 | 0.55× | 0.42× |
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 | $418.7M |
| Free Cash FlowOCF − Capex | $313.0M | $372.4M |
| FCF MarginFCF / Revenue | 16.7% | 24.0% |
| Capex IntensityCapex / Revenue | 12.1% | 3.0% |
| Cash ConversionOCF / Net Profit | 1.09× | 1.64× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $418.7M | ||
| Q3 25 | $1.1B | $184.3M | ||
| Q2 25 | $563.0M | $602.3M | ||
| Q1 25 | $586.0M | — | ||
| Q4 24 | $420.0M | $579.7M | ||
| Q3 24 | $931.0M | $465.8M | ||
| Q2 24 | $475.0M | $362.2M | ||
| Q1 24 | $445.0M | $498.7M |
| Q4 25 | $313.0M | $372.4M | ||
| Q3 25 | $717.0M | $106.1M | ||
| Q2 25 | $318.0M | $454.7M | ||
| Q1 25 | $454.0M | — | ||
| Q4 24 | $223.0M | $434.8M | ||
| Q3 24 | $792.0M | $293.6M | ||
| Q2 24 | $391.0M | $207.7M | ||
| Q1 24 | $347.0M | $276.3M |
| Q4 25 | 16.7% | 24.0% | ||
| Q3 25 | 43.2% | 7.2% | ||
| Q2 25 | 16.8% | 31.5% | ||
| Q1 25 | 27.3% | — | ||
| Q4 24 | 14.6% | 25.2% | ||
| Q3 24 | 57.8% | 16.7% | ||
| Q2 24 | 24.9% | 12.0% | ||
| Q1 24 | 23.6% | 14.8% |
| Q4 25 | 12.1% | 3.0% | ||
| Q3 25 | 20.9% | 5.3% | ||
| Q2 25 | 13.0% | 10.2% | ||
| Q1 25 | 7.9% | — | ||
| Q4 24 | 12.9% | 8.4% | ||
| Q3 24 | 10.1% | 9.8% | ||
| Q2 24 | 5.3% | 8.9% | ||
| Q1 24 | 6.7% | 11.9% |
| Q4 25 | 1.09× | 1.64× | ||
| Q3 25 | 2.31× | 1.08× | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 1.67× | — | ||
| Q4 24 | 1.07× | 1.53× | ||
| Q3 24 | 2.73× | 1.16× | ||
| Q2 24 | 0.94× | 1.07× | ||
| Q1 24 | 1.87× | 1.10× |
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% |
ON
| Industrial Segment | $426.3M | 27% |
| Other End Markets Segment | $337.3M | 22% |
| Intelligent Sensing Segments | $284.0M | 18% |
| Direct Customers | $282.4M | 18% |
| Intelligent Sensing Group | $230.0M | 15% |
