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Side-by-side financial comparison of CF Industries (CF) and Champion Homes, Inc. (SKY). Click either name above to swap in a different company.
CF Industries is the larger business by last-quarter revenue ($1.9B vs $656.6M, roughly 2.9× Champion Homes, Inc.). CF Industries runs the higher net margin — 26.4% vs 8.3%, a 18.2% gap on every dollar of revenue. On growth, CF Industries posted the faster year-over-year revenue change (22.8% vs 1.8%). CF Industries produced more free cash flow last quarter ($313.0M vs $92.9M). Over the past eight quarters, CF Industries's revenue compounded faster (12.8% CAGR vs 10.6%).
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.
Champion Homes, Inc., is a mobile and modular home manufacturing company. It is one of the largest modular homebuilders in North America. The company also provides factory-built housing to the United States and western Canada.
CF vs SKY — Head-to-Head
Income Statement — Q4 2025 vs Q3 2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $656.6M |
| Net Profit | $495.0M | $54.3M |
| Gross Margin | 40.9% | 26.2% |
| Operating Margin | 33.0% | 9.5% |
| Net Margin | 26.4% | 8.3% |
| Revenue YoY | 22.8% | 1.8% |
| Net Profit YoY | 26.3% | -11.7% |
| EPS (diluted) | $2.56 | $0.97 |
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 | $656.6M | ||
| Q3 25 | $1.7B | $684.4M | ||
| Q2 25 | $1.9B | $701.3M | ||
| Q1 25 | $1.7B | $593.9M | ||
| Q4 24 | $1.5B | $644.9M | ||
| Q3 24 | $1.4B | $616.9M | ||
| Q2 24 | $1.6B | $627.8M | ||
| Q1 24 | $1.5B | $536.4M |
| Q4 25 | $495.0M | $54.3M | ||
| Q3 25 | $460.0M | $58.2M | ||
| Q2 25 | $492.0M | $64.7M | ||
| Q1 25 | $351.0M | $36.3M | ||
| Q4 24 | $392.0M | $61.5M | ||
| Q3 24 | $341.0M | $54.7M | ||
| Q2 24 | $506.0M | $45.8M | ||
| Q1 24 | $238.0M | $2.8M |
| Q4 25 | 40.9% | 26.2% | ||
| Q3 25 | 38.1% | 27.5% | ||
| Q2 25 | 39.9% | 27.1% | ||
| Q1 25 | 34.4% | 25.7% | ||
| Q4 24 | 34.4% | 28.1% | ||
| Q3 24 | 32.4% | 27.0% | ||
| Q2 24 | 43.2% | 26.2% | ||
| Q1 24 | 27.8% | 18.3% |
| Q4 25 | 33.0% | 9.5% | ||
| Q3 25 | 35.0% | 10.9% | ||
| Q2 25 | 34.3% | 11.2% | ||
| Q1 25 | 27.4% | 7.1% | ||
| Q4 24 | 28.9% | 11.3% | ||
| Q3 24 | 26.6% | 10.8% | ||
| Q2 24 | 40.6% | 8.8% | ||
| Q1 24 | 20.6% | 1.4% |
| Q4 25 | 26.4% | 8.3% | ||
| Q3 25 | 27.7% | 8.5% | ||
| Q2 25 | 26.0% | 9.2% | ||
| Q1 25 | 21.1% | 6.1% | ||
| Q4 24 | 25.7% | 9.5% | ||
| Q3 24 | 24.9% | 8.9% | ||
| Q2 24 | 32.2% | 7.3% | ||
| Q1 24 | 16.2% | 0.5% |
| Q4 25 | $2.56 | $0.97 | ||
| Q3 25 | $2.19 | $1.03 | ||
| Q2 25 | $2.37 | $1.13 | ||
| Q1 25 | $1.85 | $0.63 | ||
| Q4 24 | $1.86 | $1.06 | ||
| Q3 24 | $1.55 | $0.94 | ||
| Q2 24 | $2.30 | $0.79 | ||
| Q1 24 | $1.03 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $659.8M |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $4.8B | $1.6B |
| Total Assets | $14.1B | $2.1B |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $659.8M | ||
| Q3 25 | — | $618.7M | ||
| Q2 25 | — | $605.3M | ||
| Q1 25 | — | $610.3M | ||
| Q4 24 | — | $581.8M | ||
| Q3 24 | — | $570.2M | ||
| Q2 24 | — | $548.9M | ||
| Q1 24 | — | $495.1M |
| Q4 25 | $3.2B | — | ||
| 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 | $1.6B | ||
| Q3 25 | $4.8B | $1.6B | ||
| Q2 25 | $5.0B | $1.6B | ||
| Q1 25 | $4.8B | $1.5B | ||
| Q4 24 | $5.0B | $1.5B | ||
| Q3 24 | $5.2B | $1.5B | ||
| Q2 24 | $5.5B | $1.5B | ||
| Q1 24 | $5.4B | $1.4B |
| Q4 25 | $14.1B | $2.1B | ||
| Q3 25 | $14.2B | $2.1B | ||
| Q2 25 | $13.8B | $2.1B | ||
| Q1 25 | $13.3B | $2.1B | ||
| Q4 24 | $13.5B | $2.0B | ||
| Q3 24 | $13.8B | $2.0B | ||
| Q2 24 | $13.8B | $2.0B | ||
| Q1 24 | $13.9B | $1.9B |
| Q4 25 | 0.66× | — | ||
| 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 | $100.0M |
| Free Cash FlowOCF − Capex | $313.0M | $92.9M |
| FCF MarginFCF / Revenue | 16.7% | 14.1% |
| Capex IntensityCapex / Revenue | 12.1% | 1.1% |
| Cash ConversionOCF / Net Profit | 1.09× | 1.84× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $259.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $100.0M | ||
| Q3 25 | $1.1B | $75.9M | ||
| Q2 25 | $563.0M | $75.3M | ||
| Q1 25 | $586.0M | $46.0M | ||
| Q4 24 | $420.0M | $50.4M | ||
| Q3 24 | $931.0M | $59.8M | ||
| Q2 24 | $475.0M | $84.6M | ||
| Q1 24 | $445.0M | — |
| Q4 25 | $313.0M | $92.9M | ||
| Q3 25 | $717.0M | $67.0M | ||
| Q2 25 | $318.0M | $66.4M | ||
| Q1 25 | $454.0M | $33.4M | ||
| Q4 24 | $223.0M | $37.3M | ||
| Q3 24 | $792.0M | $45.7M | ||
| Q2 24 | $391.0M | $73.9M | ||
| Q1 24 | $347.0M | — |
| Q4 25 | 16.7% | 14.1% | ||
| Q3 25 | 43.2% | 9.8% | ||
| Q2 25 | 16.8% | 9.5% | ||
| Q1 25 | 27.3% | 5.6% | ||
| Q4 24 | 14.6% | 5.8% | ||
| Q3 24 | 57.8% | 7.4% | ||
| Q2 24 | 24.9% | 11.8% | ||
| Q1 24 | 23.6% | — |
| Q4 25 | 12.1% | 1.1% | ||
| Q3 25 | 20.9% | 1.3% | ||
| Q2 25 | 13.0% | 1.3% | ||
| Q1 25 | 7.9% | 2.1% | ||
| Q4 24 | 12.9% | 2.0% | ||
| Q3 24 | 10.1% | 2.3% | ||
| Q2 24 | 5.3% | 1.7% | ||
| Q1 24 | 6.7% | — |
| Q4 25 | 1.09× | 1.84× | ||
| Q3 25 | 2.31× | 1.30× | ||
| Q2 25 | 1.14× | 1.16× | ||
| Q1 25 | 1.67× | 1.27× | ||
| Q4 24 | 1.07× | 0.82× | ||
| Q3 24 | 2.73× | 1.09× | ||
| Q2 24 | 0.94× | 1.85× | ||
| 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% |
SKY
| Manufacturing | $369.7M | 56% |
| Retail | $252.7M | 38% |
| Canadian Factory Built Housing | $25.8M | 4% |
| Transportation And Other | $8.5M | 1% |
