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Side-by-side financial comparison of CF Industries (CF) and QVC Group, Inc. (QVCGA). Click either name above to swap in a different company.
QVC Group, Inc. is the larger business by last-quarter revenue ($2.7B vs $1.9B, roughly 1.4× CF Industries). CF Industries runs the higher net margin — 26.4% vs -1.4%, a 27.8% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs -9.1%). CF Industries produced more free cash flow last quarter ($313.0M vs $191.0M). Over the past eight quarters, CF Industries's revenue compounded faster (12.8% CAGR vs 6.9%).
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.
QVC Group, is an American media conglomerate controlled by company chairman John C. Malone, who owns a majority of the voting shares.
CF vs QVCGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $2.7B |
| Net Profit | $495.0M | $-37.0M |
| Gross Margin | 40.9% | 32.9% |
| Operating Margin | 33.0% | 3.7% |
| Net Margin | 26.4% | -1.4% |
| Revenue YoY | 22.8% | -9.1% |
| Net Profit YoY | 26.3% | 97.1% |
| EPS (diluted) | $2.56 | $-17.37 |
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 | $2.7B | ||
| Q3 25 | $1.7B | $2.2B | ||
| Q2 25 | $1.9B | $2.2B | ||
| Q1 25 | $1.7B | $2.1B | ||
| Q4 24 | $1.5B | $2.9B | ||
| Q3 24 | $1.4B | $2.3B | ||
| Q2 24 | $1.6B | $2.4B | ||
| Q1 24 | $1.5B | $2.3B |
| Q4 25 | $495.0M | $-37.0M | ||
| Q3 25 | $460.0M | $-80.0M | ||
| Q2 25 | $492.0M | $-2.2B | ||
| Q1 25 | $351.0M | $-100.0M | ||
| Q4 24 | $392.0M | $-1.3B | ||
| Q3 24 | $341.0M | $-23.0M | ||
| Q2 24 | $506.0M | $20.0M | ||
| Q1 24 | $238.0M | $-1.0M |
| Q4 25 | 40.9% | 32.9% | ||
| Q3 25 | 38.1% | 34.0% | ||
| Q2 25 | 39.9% | 36.4% | ||
| Q1 25 | 34.4% | 34.2% | ||
| Q4 24 | 34.4% | 33.3% | ||
| Q3 24 | 32.4% | 35.3% | ||
| Q2 24 | 43.2% | 36.4% | ||
| Q1 24 | 27.8% | 35.5% |
| Q4 25 | 33.0% | 3.7% | ||
| Q3 25 | 35.0% | 2.7% | ||
| Q2 25 | 34.3% | -101.6% | ||
| Q1 25 | 27.4% | 0.7% | ||
| Q4 24 | 28.9% | -43.2% | ||
| Q3 24 | 26.6% | 6.5% | ||
| Q2 24 | 40.6% | 6.9% | ||
| Q1 24 | 20.6% | 6.2% |
| Q4 25 | 26.4% | -1.4% | ||
| Q3 25 | 27.7% | -3.6% | ||
| Q2 25 | 26.0% | -99.4% | ||
| Q1 25 | 21.1% | -4.8% | ||
| Q4 24 | 25.7% | -43.7% | ||
| Q3 24 | 24.9% | -1.0% | ||
| Q2 24 | 32.2% | 0.8% | ||
| Q1 24 | 16.2% | -0.0% |
| Q4 25 | $2.56 | $-17.37 | ||
| Q3 25 | $2.19 | $-9.89 | ||
| Q2 25 | $2.37 | $-275.46 | ||
| Q1 25 | $1.85 | $-0.25 | ||
| Q4 24 | $1.86 | — | ||
| Q3 24 | $1.55 | $-0.06 | ||
| Q2 24 | $2.30 | $2.57 | ||
| Q1 24 | $1.03 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $2.0B |
| Total DebtLower is stronger | $3.2B | $790.0M |
| Stockholders' EquityBook value | $4.8B | $-3.1B |
| Total Assets | $14.1B | $7.6B |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $897.0M | ||
| Q1 25 | — | $833.0M | ||
| Q4 24 | — | $905.0M | ||
| Q3 24 | — | $873.0M | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | $3.2B | $790.0M | ||
| Q3 25 | $3.0B | $5.9B | ||
| Q2 25 | $3.0B | $4.9B | ||
| Q1 25 | $3.0B | $5.0B | ||
| Q4 24 | $3.0B | $4.1B | ||
| Q3 24 | $3.0B | $5.1B | ||
| Q2 24 | $3.0B | $5.3B | ||
| Q1 24 | $3.0B | $5.5B |
| Q4 25 | $4.8B | $-3.1B | ||
| Q3 25 | $4.8B | $-3.1B | ||
| Q2 25 | $5.0B | $-3.0B | ||
| Q1 25 | $4.8B | $-981.0M | ||
| Q4 24 | $5.0B | $-971.0M | ||
| Q3 24 | $5.2B | $397.0M | ||
| Q2 24 | $5.5B | $328.0M | ||
| Q1 24 | $5.4B | $255.0M |
| Q4 25 | $14.1B | $7.6B | ||
| Q3 25 | $14.2B | $7.6B | ||
| Q2 25 | $13.8B | $6.7B | ||
| Q1 25 | $13.3B | $9.0B | ||
| Q4 24 | $13.5B | $9.2B | ||
| Q3 24 | $13.8B | $10.8B | ||
| Q2 24 | $13.8B | $10.9B | ||
| Q1 24 | $13.9B | $11.0B |
| Q4 25 | 0.66× | — | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.60× | — | ||
| Q3 24 | 0.57× | 12.74× | ||
| Q2 24 | 0.54× | 16.28× | ||
| Q1 24 | 0.55× | 21.53× |
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 | $244.0M |
| Free Cash FlowOCF − Capex | $313.0M | $191.0M |
| FCF MarginFCF / Revenue | 16.7% | 7.1% |
| Capex IntensityCapex / Revenue | 12.1% | 2.0% |
| Cash ConversionOCF / Net Profit | 1.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $118.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $244.0M | ||
| Q3 25 | $1.1B | $4.0M | ||
| Q2 25 | $563.0M | $86.0M | ||
| Q1 25 | $586.0M | $-60.0M | ||
| Q4 24 | $420.0M | $212.0M | ||
| Q3 24 | $931.0M | $20.0M | ||
| Q2 24 | $475.0M | $267.0M | ||
| Q1 24 | $445.0M | $26.0M |
| Q4 25 | $313.0M | $191.0M | ||
| Q3 25 | $717.0M | $-27.0M | ||
| Q2 25 | $318.0M | $48.0M | ||
| Q1 25 | $454.0M | $-94.0M | ||
| Q4 24 | $223.0M | $150.0M | ||
| Q3 24 | $792.0M | $-23.0M | ||
| Q2 24 | $391.0M | $213.0M | ||
| Q1 24 | $347.0M | $-14.0M |
| Q4 25 | 16.7% | 7.1% | ||
| Q3 25 | 43.2% | -1.2% | ||
| Q2 25 | 16.8% | 2.1% | ||
| Q1 25 | 27.3% | -4.5% | ||
| Q4 24 | 14.6% | 5.1% | ||
| Q3 24 | 57.8% | -1.0% | ||
| Q2 24 | 24.9% | 8.8% | ||
| Q1 24 | 23.6% | -0.6% |
| Q4 25 | 12.1% | 2.0% | ||
| Q3 25 | 20.9% | 1.4% | ||
| Q2 25 | 13.0% | 1.7% | ||
| Q1 25 | 7.9% | 1.6% | ||
| Q4 24 | 12.9% | 2.1% | ||
| Q3 24 | 10.1% | 1.8% | ||
| Q2 24 | 5.3% | 2.2% | ||
| Q1 24 | 6.7% | 1.7% |
| Q4 25 | 1.09× | — | ||
| Q3 25 | 2.31× | — | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 1.67× | — | ||
| Q4 24 | 1.07× | — | ||
| Q3 24 | 2.73× | — | ||
| Q2 24 | 0.94× | 13.35× | ||
| 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% |
QVCGA
| Other | $915.0M | 34% |
| Home | $754.0M | 28% |
| Beauty | $260.0M | 10% |
| Apparel | $254.0M | 9% |
| Electronics | $187.0M | 7% |
| Accessories | $181.0M | 7% |
| Jewelry | $87.0M | 3% |
| Manufactured Product Other | $38.0M | 1% |
