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Side-by-side financial comparison of CF Industries (CF) and BeOne Medicines Ltd. (ONC). 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× BeOne Medicines Ltd.). CF Industries runs the higher net margin — 26.4% vs 4.4%, a 22.0% gap on every dollar of revenue. On growth, BeOne Medicines Ltd. posted the faster year-over-year revenue change (32.8% vs 22.8%). BeOne Medicines Ltd. produced more free cash flow last quarter ($379.8M vs $313.0M). Over the past eight quarters, BeOne Medicines Ltd.'s revenue compounded faster (41.2% CAGR vs 12.8%).
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.
BeOne Medicines Ltd.ONCEarnings & Financial Report
BeOne Medicines, formerly known as BeiGene, Ltd. is a multinational oncology company. It specializes in the development of drugs for cancer treatment.
CF vs ONC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.5B |
| Net Profit | $495.0M | $66.5M |
| Gross Margin | 40.9% | 90.5% |
| Operating Margin | 33.0% | 12.4% |
| Net Margin | 26.4% | 4.4% |
| Revenue YoY | 22.8% | 32.8% |
| Net Profit YoY | 26.3% | 143.8% |
| EPS (diluted) | $2.56 | $0.05 |
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 | $1.4B | ||
| Q2 25 | $1.9B | $1.3B | ||
| Q1 25 | $1.7B | $1.1B | ||
| Q4 24 | $1.5B | $1.1B | ||
| Q3 24 | $1.4B | $1.0B | ||
| Q2 24 | $1.6B | $929.2M | ||
| Q1 24 | $1.5B | $751.7M |
| Q4 25 | $495.0M | $66.5M | ||
| Q3 25 | $460.0M | $124.8M | ||
| Q2 25 | $492.0M | $94.3M | ||
| Q1 25 | $351.0M | $1.3M | ||
| Q4 24 | $392.0M | $-151.9M | ||
| Q3 24 | $341.0M | $-121.3M | ||
| Q2 24 | $506.0M | $-120.4M | ||
| Q1 24 | $238.0M | $-251.2M |
| Q4 25 | 40.9% | 90.5% | ||
| Q3 25 | 38.1% | 86.1% | ||
| Q2 25 | 39.9% | 87.5% | ||
| Q1 25 | 34.4% | 85.2% | ||
| Q4 24 | 34.4% | 85.8% | ||
| Q3 24 | 32.4% | 83.0% | ||
| Q2 24 | 43.2% | 85.1% | ||
| Q1 24 | 27.8% | 83.4% |
| Q4 25 | 33.0% | 12.4% | ||
| Q3 25 | 35.0% | 11.5% | ||
| Q2 25 | 34.3% | 6.7% | ||
| Q1 25 | 27.4% | 1.0% | ||
| Q4 24 | 28.9% | -7.0% | ||
| Q3 24 | 26.6% | -12.0% | ||
| Q2 24 | 40.6% | -11.5% | ||
| Q1 24 | 20.6% | -34.8% |
| Q4 25 | 26.4% | 4.4% | ||
| Q3 25 | 27.7% | 8.8% | ||
| Q2 25 | 26.0% | 7.2% | ||
| Q1 25 | 21.1% | 0.1% | ||
| Q4 24 | 25.7% | -13.5% | ||
| Q3 24 | 24.9% | -12.1% | ||
| Q2 24 | 32.2% | -13.0% | ||
| Q1 24 | 16.2% | -33.4% |
| Q4 25 | $2.56 | $0.05 | ||
| Q3 25 | $2.19 | $0.08 | ||
| Q2 25 | $2.37 | $0.06 | ||
| Q1 25 | $1.85 | $0.00 | ||
| Q4 24 | $1.86 | $-0.10 | ||
| Q3 24 | $1.55 | $-0.09 | ||
| Q2 24 | $2.30 | $-0.09 | ||
| Q1 24 | $1.03 | $-0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $4.5B |
| Total DebtLower is stronger | $3.2B | $836.4M |
| Stockholders' EquityBook value | $4.8B | $4.4B |
| Total Assets | $14.1B | $8.2B |
| Debt / EquityLower = less leverage | 0.66× | 0.19× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $4.5B | ||
| Q3 25 | — | $4.0B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.6B | ||
| Q1 24 | — | $2.8B |
| Q4 25 | $3.2B | $836.4M | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $3.0B | — |
| Q4 25 | $4.8B | $4.4B | ||
| Q3 25 | $4.8B | $4.1B | ||
| Q2 25 | $5.0B | $3.8B | ||
| Q1 25 | $4.8B | $3.5B | ||
| Q4 24 | $5.0B | $3.3B | ||
| Q3 24 | $5.2B | $3.4B | ||
| Q2 24 | $5.5B | $3.4B | ||
| Q1 24 | $5.4B | $3.4B |
| Q4 25 | $14.1B | $8.2B | ||
| Q3 25 | $14.2B | $7.6B | ||
| Q2 25 | $13.8B | $6.3B | ||
| Q1 25 | $13.3B | $5.8B | ||
| Q4 24 | $13.5B | $5.9B | ||
| Q3 24 | $13.8B | $5.8B | ||
| Q2 24 | $13.8B | $5.7B | ||
| Q1 24 | $13.9B | $5.7B |
| Q4 25 | 0.66× | 0.19× | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.60× | — | ||
| 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 | $417.3M |
| Free Cash FlowOCF − Capex | $313.0M | $379.8M |
| FCF MarginFCF / Revenue | 16.7% | 25.4% |
| Capex IntensityCapex / Revenue | 12.1% | 2.5% |
| Cash ConversionOCF / Net Profit | 1.09× | 6.28× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $941.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $417.3M | ||
| Q3 25 | $1.1B | $402.6M | ||
| Q2 25 | $563.0M | $263.6M | ||
| Q1 25 | $586.0M | $44.1M | ||
| Q4 24 | $420.0M | $75.2M | ||
| Q3 24 | $931.0M | $188.4M | ||
| Q2 24 | $475.0M | $-95.6M | ||
| Q1 24 | $445.0M | $-308.6M |
| Q4 25 | $313.0M | $379.8M | ||
| Q3 25 | $717.0M | $354.5M | ||
| Q2 25 | $318.0M | $219.8M | ||
| Q1 25 | $454.0M | $-12.3M | ||
| Q4 24 | $223.0M | $-17.3M | ||
| Q3 24 | $792.0M | $54.7M | ||
| Q2 24 | $391.0M | $-205.5M | ||
| Q1 24 | $347.0M | $-465.1M |
| Q4 25 | 16.7% | 25.4% | ||
| Q3 25 | 43.2% | 25.1% | ||
| Q2 25 | 16.8% | 16.7% | ||
| Q1 25 | 27.3% | -1.1% | ||
| Q4 24 | 14.6% | -1.5% | ||
| Q3 24 | 57.8% | 5.5% | ||
| Q2 24 | 24.9% | -22.1% | ||
| Q1 24 | 23.6% | -61.9% |
| Q4 25 | 12.1% | 2.5% | ||
| Q3 25 | 20.9% | 3.4% | ||
| Q2 25 | 13.0% | 3.3% | ||
| Q1 25 | 7.9% | 5.0% | ||
| Q4 24 | 12.9% | 8.2% | ||
| Q3 24 | 10.1% | 13.3% | ||
| Q2 24 | 5.3% | 11.8% | ||
| Q1 24 | 6.7% | 20.8% |
| Q4 25 | 1.09× | 6.28× | ||
| Q3 25 | 2.31× | 3.22× | ||
| Q2 25 | 1.14× | 2.79× | ||
| Q1 25 | 1.67× | 34.71× | ||
| Q4 24 | 1.07× | — | ||
| Q3 24 | 2.73× | — | ||
| Q2 24 | 0.94× | — | ||
| Q1 24 | 1.87× | — |
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% |
ONC
Segment breakdown not available.
