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Side-by-side financial comparison of CF Industries (CF) and OPEN TEXT CORP (OTEX). Click either name above to swap in a different company.
CF Industries is the larger business by last-quarter revenue ($1.9B vs $1.3B, roughly 1.4× OPEN TEXT CORP). CF Industries runs the higher net margin — 26.4% vs 12.7%, a 13.8% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs -0.6%). CF Industries produced more free cash flow last quarter ($313.0M vs $279.4M). Over the past eight quarters, CF Industries's revenue compounded faster (12.8% CAGR vs -4.3%).
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.
Open Text Corporation is a global software company that develops and sells information management software.
CF vs OTEX — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.3B |
| Net Profit | $495.0M | $168.1M |
| Gross Margin | 40.9% | 74.0% |
| Operating Margin | 33.0% | 22.0% |
| Net Margin | 26.4% | 12.7% |
| Revenue YoY | 22.8% | -0.6% |
| Net Profit YoY | 26.3% | -26.9% |
| EPS (diluted) | $2.56 | $0.66 |
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 | $1.3B | ||
| Q3 25 | $1.7B | $1.3B | ||
| Q2 25 | $1.9B | $1.3B | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $1.5B | $1.3B | ||
| Q3 24 | $1.4B | $1.3B | ||
| Q2 24 | $1.6B | $1.4B | ||
| Q1 24 | $1.5B | $1.4B |
| Q4 25 | $495.0M | $168.1M | ||
| Q3 25 | $460.0M | $146.6M | ||
| Q2 25 | $492.0M | $28.8M | ||
| Q1 25 | $351.0M | $92.8M | ||
| Q4 24 | $392.0M | $229.9M | ||
| Q3 24 | $341.0M | $84.4M | ||
| Q2 24 | $506.0M | $248.2M | ||
| Q1 24 | $238.0M | $98.3M |
| Q4 25 | 40.9% | 74.0% | ||
| Q3 25 | 38.1% | 72.8% | ||
| Q2 25 | 39.9% | 72.3% | ||
| Q1 25 | 34.4% | 71.6% | ||
| Q4 24 | 34.4% | 73.3% | ||
| Q3 24 | 32.4% | 71.7% | ||
| Q2 24 | 43.2% | 72.5% | ||
| Q1 24 | 27.8% | 73.0% |
| Q4 25 | 33.0% | 22.0% | ||
| Q3 25 | 35.0% | 21.0% | ||
| Q2 25 | 34.3% | 13.9% | ||
| Q1 25 | 27.4% | 16.7% | ||
| Q4 24 | 28.9% | 22.2% | ||
| Q3 24 | 26.6% | 16.3% | ||
| Q2 24 | 40.6% | 14.2% | ||
| Q1 24 | 20.6% | 15.7% |
| Q4 25 | 26.4% | 12.7% | ||
| Q3 25 | 27.7% | 11.4% | ||
| Q2 25 | 26.0% | 2.2% | ||
| Q1 25 | 21.1% | 7.4% | ||
| Q4 24 | 25.7% | 17.2% | ||
| Q3 24 | 24.9% | 6.6% | ||
| Q2 24 | 32.2% | 18.2% | ||
| Q1 24 | 16.2% | 6.8% |
| Q4 25 | $2.56 | $0.66 | ||
| Q3 25 | $2.19 | $0.58 | ||
| Q2 25 | $2.37 | $0.11 | ||
| Q1 25 | $1.85 | $0.35 | ||
| Q4 24 | $1.86 | $0.87 | ||
| Q3 24 | $1.55 | $0.32 | ||
| Q2 24 | $2.30 | $0.91 | ||
| Q1 24 | $1.03 | $0.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.3B |
| Total DebtLower is stronger | $3.2B | $6.4B |
| Stockholders' EquityBook value | $4.8B | $4.0B |
| Total Assets | $14.1B | $13.6B |
| Debt / EquityLower = less leverage | 0.66× | 1.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | $3.2B | $6.4B | ||
| Q3 25 | $3.0B | $6.4B | ||
| Q2 25 | $3.0B | $6.4B | ||
| Q1 25 | $3.0B | $6.4B | ||
| Q4 24 | $3.0B | $6.4B | ||
| Q3 24 | $3.0B | $6.4B | ||
| Q2 24 | $3.0B | $6.4B | ||
| Q1 24 | $3.0B | $8.4B |
| Q4 25 | $4.8B | $4.0B | ||
| Q3 25 | $4.8B | $4.0B | ||
| Q2 25 | $5.0B | $3.9B | ||
| Q1 25 | $4.8B | $4.1B | ||
| Q4 24 | $5.0B | $4.2B | ||
| Q3 24 | $5.2B | $4.1B | ||
| Q2 24 | $5.5B | $4.2B | ||
| Q1 24 | $5.4B | $4.1B |
| Q4 25 | $14.1B | $13.6B | ||
| Q3 25 | $14.2B | $13.5B | ||
| Q2 25 | $13.8B | $13.8B | ||
| Q1 25 | $13.3B | $13.8B | ||
| Q4 24 | $13.5B | $13.7B | ||
| Q3 24 | $13.8B | $13.8B | ||
| Q2 24 | $13.8B | $14.2B | ||
| Q1 24 | $13.9B | $16.4B |
| Q4 25 | 0.66× | 1.58× | ||
| Q3 25 | 0.61× | 1.61× | ||
| Q2 25 | 0.60× | 1.62× | ||
| Q1 25 | 0.62× | 1.55× | ||
| Q4 24 | 0.60× | 1.51× | ||
| Q3 24 | 0.57× | 1.55× | ||
| Q2 24 | 0.54× | 1.52× | ||
| Q1 24 | 0.55× | 2.02× |
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 | $318.7M |
| Free Cash FlowOCF − Capex | $313.0M | $279.4M |
| FCF MarginFCF / Revenue | 16.7% | 21.1% |
| Capex IntensityCapex / Revenue | 12.1% | 3.0% |
| Cash ConversionOCF / Net Profit | 1.09× | 1.90× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $878.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $318.7M | ||
| Q3 25 | $1.1B | $147.8M | ||
| Q2 25 | $563.0M | $158.2M | ||
| Q1 25 | $586.0M | $402.2M | ||
| Q4 24 | $420.0M | $348.0M | ||
| Q3 24 | $931.0M | $-77.8M | ||
| Q2 24 | $475.0M | $185.2M | ||
| Q1 24 | $445.0M | $384.7M |
| Q4 25 | $313.0M | $279.4M | ||
| Q3 25 | $717.0M | $101.2M | ||
| Q2 25 | $318.0M | $124.0M | ||
| Q1 25 | $454.0M | $373.8M | ||
| Q4 24 | $223.0M | $306.7M | ||
| Q3 24 | $792.0M | $-117.1M | ||
| Q2 24 | $391.0M | $145.2M | ||
| Q1 24 | $347.0M | $348.2M |
| Q4 25 | 16.7% | 21.1% | ||
| Q3 25 | 43.2% | 7.9% | ||
| Q2 25 | 16.8% | 9.5% | ||
| Q1 25 | 27.3% | 29.8% | ||
| Q4 24 | 14.6% | 23.0% | ||
| Q3 24 | 57.8% | -9.2% | ||
| Q2 24 | 24.9% | 10.7% | ||
| Q1 24 | 23.6% | 24.1% |
| Q4 25 | 12.1% | 3.0% | ||
| Q3 25 | 20.9% | 3.6% | ||
| Q2 25 | 13.0% | 2.6% | ||
| Q1 25 | 7.9% | 2.3% | ||
| Q4 24 | 12.9% | 3.1% | ||
| Q3 24 | 10.1% | 3.1% | ||
| Q2 24 | 5.3% | 2.9% | ||
| Q1 24 | 6.7% | 2.5% |
| Q4 25 | 1.09× | 1.90× | ||
| Q3 25 | 2.31× | 1.01× | ||
| Q2 25 | 1.14× | 5.49× | ||
| Q1 25 | 1.67× | 4.33× | ||
| Q4 24 | 1.07× | 1.51× | ||
| Q3 24 | 2.73× | -0.92× | ||
| Q2 24 | 0.94× | 0.75× | ||
| Q1 24 | 1.87× | 3.91× |
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% |
OTEX
| Transferred At Point In Time | $184.2M | 14% |
| Cybersecurity Enterprise Product | $174.5M | 13% |
| Business Network Product | $159.8M | 12% |
| Business Network Cloud Services And Subscriptions | $151.4M | 11% |
| Content Cloud Services And Subscriptions | $137.9M | 10% |
| Cybersecurity SMB Consumer Product | $127.6M | 10% |
| Application Delivery Management Product | $120.1M | 9% |
| IT Operations Management Product | $113.3M | 9% |
| Professional Service And Other | $82.5M | 6% |
| Analytics Product | $58.1M | 4% |
| IT Operations Management Cloud Services And Subscriptions | $7.8M | 1% |
