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Side-by-side financial comparison of CF Industries (CF) and SELECTIVE INSURANCE GROUP INC (SIGI). Click either name above to swap in a different company.
CF Industries is the larger business by last-quarter revenue ($1.9B vs $1.4B, roughly 1.4× SELECTIVE INSURANCE GROUP INC). CF Industries runs the higher net margin — 26.4% vs 7.2%, a 19.3% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs 5.7%). Over the past eight quarters, CF Industries's revenue compounded faster (12.8% CAGR vs 6.6%).
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.
Selective Insurance Group Inc. is a U.S.-based insurance holding company that provides a comprehensive portfolio of property and casualty insurance products, including personal auto, home insurance, commercial property, liability, and workers' compensation coverage. It primarily serves small and medium-sized businesses, individual consumers, and nonprofits across the U.S., distributing offerings via a network of independent insurance agents.
CF vs SIGI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.4B |
| Net Profit | $495.0M | $97.7M |
| Gross Margin | 40.9% | — |
| Operating Margin | 33.0% | — |
| Net Margin | 26.4% | 7.2% |
| Revenue YoY | 22.8% | 5.7% |
| Net Profit YoY | 26.3% | — |
| EPS (diluted) | $2.56 | $1.58 |
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.
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.9B | $1.4B | ||
| Q3 25 | $1.7B | $1.4B | ||
| Q2 25 | $1.9B | $1.3B | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $1.5B | $1.3B | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.6B | $1.2B |
| Q1 26 | — | $97.7M | ||
| Q4 25 | $495.0M | $155.2M | ||
| Q3 25 | $460.0M | $115.3M | ||
| Q2 25 | $492.0M | $85.9M | ||
| Q1 25 | $351.0M | $109.9M | ||
| Q4 24 | $392.0M | $95.5M | ||
| Q3 24 | $341.0M | $92.3M | ||
| Q2 24 | $506.0M | $-63.3M |
| Q1 26 | — | — | ||
| Q4 25 | 40.9% | — | ||
| Q3 25 | 38.1% | — | ||
| Q2 25 | 39.9% | — | ||
| Q1 25 | 34.4% | — | ||
| Q4 24 | 34.4% | — | ||
| Q3 24 | 32.4% | — | ||
| Q2 24 | 43.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | 33.0% | 14.4% | ||
| Q3 25 | 35.0% | 10.7% | ||
| Q2 25 | 34.3% | 8.2% | ||
| Q1 25 | 27.4% | 10.8% | ||
| Q4 24 | 28.9% | 9.5% | ||
| Q3 24 | 26.6% | 9.4% | ||
| Q2 24 | 40.6% | -6.7% |
| Q1 26 | — | 7.2% | ||
| Q4 25 | 26.4% | 11.4% | ||
| Q3 25 | 27.7% | 8.5% | ||
| Q2 25 | 26.0% | 6.5% | ||
| Q1 25 | 21.1% | 8.6% | ||
| Q4 24 | 25.7% | 7.6% | ||
| Q3 24 | 24.9% | 7.4% | ||
| Q2 24 | 32.2% | -5.3% |
| Q1 26 | — | $1.58 | ||
| Q4 25 | $2.56 | $2.52 | ||
| Q3 25 | $2.19 | $1.85 | ||
| Q2 25 | $2.37 | $1.36 | ||
| Q1 25 | $1.85 | $1.76 | ||
| Q4 24 | $1.86 | $1.53 | ||
| Q3 24 | $1.55 | $1.47 | ||
| Q2 24 | $2.30 | $-1.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $451.8M |
| Total DebtLower is stronger | $3.2B | $901.4M |
| Stockholders' EquityBook value | $4.8B | $3.6B |
| Total Assets | $14.1B | $15.3B |
| Debt / EquityLower = less leverage | 0.66× | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $451.8M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $901.4M | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | $507.9M | ||
| Q3 24 | $3.0B | $508.2M | ||
| Q2 24 | $3.0B | $508.8M |
| Q1 26 | — | $3.6B | ||
| Q4 25 | $4.8B | $3.6B | ||
| Q3 25 | $4.8B | $3.5B | ||
| Q2 25 | $5.0B | $3.4B | ||
| Q1 25 | $4.8B | $3.3B | ||
| Q4 24 | $5.0B | $3.1B | ||
| Q3 24 | $5.2B | $3.2B | ||
| Q2 24 | $5.5B | $2.9B |
| Q1 26 | — | $15.3B | ||
| Q4 25 | $14.1B | $15.2B | ||
| Q3 25 | $14.2B | $15.0B | ||
| Q2 25 | $13.8B | $14.5B | ||
| Q1 25 | $13.3B | $14.2B | ||
| Q4 24 | $13.5B | $13.5B | ||
| Q3 24 | $13.8B | $13.5B | ||
| Q2 24 | $13.8B | $12.6B |
| Q1 26 | — | 0.25× | ||
| Q4 25 | 0.66× | — | ||
| Q3 25 | 0.61× | — | ||
| Q2 25 | 0.60× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.60× | 0.16× | ||
| Q3 24 | 0.57× | 0.16× | ||
| Q2 24 | 0.54× | 0.17× |
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 | — |
| Free Cash FlowOCF − Capex | $313.0M | — |
| FCF MarginFCF / Revenue | 16.7% | — |
| Capex IntensityCapex / Revenue | 12.1% | — |
| Cash ConversionOCF / Net Profit | 1.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $539.0M | $376.3M | ||
| Q3 25 | $1.1B | $405.8M | ||
| Q2 25 | $563.0M | $166.9M | ||
| Q1 25 | $586.0M | $284.0M | ||
| Q4 24 | $420.0M | $332.2M | ||
| Q3 24 | $931.0M | $387.4M | ||
| Q2 24 | $475.0M | $266.1M |
| Q1 26 | — | — | ||
| Q4 25 | $313.0M | $366.3M | ||
| Q3 25 | $717.0M | $397.3M | ||
| Q2 25 | $318.0M | $159.7M | ||
| Q1 25 | $454.0M | $271.0M | ||
| Q4 24 | $223.0M | $324.7M | ||
| Q3 24 | $792.0M | $378.0M | ||
| Q2 24 | $391.0M | $258.4M |
| Q1 26 | — | — | ||
| Q4 25 | 16.7% | 26.8% | ||
| Q3 25 | 43.2% | 29.2% | ||
| Q2 25 | 16.8% | 12.0% | ||
| Q1 25 | 27.3% | 21.1% | ||
| Q4 24 | 14.6% | 25.8% | ||
| Q3 24 | 57.8% | 30.4% | ||
| Q2 24 | 24.9% | 21.6% |
| Q1 26 | — | — | ||
| Q4 25 | 12.1% | 0.7% | ||
| Q3 25 | 20.9% | 0.6% | ||
| Q2 25 | 13.0% | 0.5% | ||
| Q1 25 | 7.9% | 1.0% | ||
| Q4 24 | 12.9% | 0.6% | ||
| Q3 24 | 10.1% | 0.8% | ||
| Q2 24 | 5.3% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.09× | 2.42× | ||
| Q3 25 | 2.31× | 3.52× | ||
| Q2 25 | 1.14× | 1.94× | ||
| Q1 25 | 1.67× | 2.58× | ||
| Q4 24 | 1.07× | 3.48× | ||
| Q3 24 | 2.73× | 4.20× | ||
| Q2 24 | 0.94× | — |
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% |
SIGI
Segment breakdown not available.
