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Side-by-side financial comparison of CF Industries (CF) and StoneX Group Inc. (SNEX). Click either name above to swap in a different company.
CF Industries is the larger business by last-quarter revenue ($1.9B vs $1.2B, roughly 1.6× StoneX Group Inc.). CF Industries runs the higher net margin — 26.4% vs 11.6%, a 14.9% gap on every dollar of revenue. On growth, StoneX Group Inc. posted the faster year-over-year revenue change (81.0% vs 22.8%). CF Industries produced more free cash flow last quarter ($313.0M vs $-1.3B). Over the past eight quarters, StoneX Group Inc.'s revenue compounded faster (53.5% 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.
StoneX Group Inc. is an American financial services company. The company operates in six areas: commercial hedging, global payments, securities, physical commodities, foreign exchange and clearing and execution services (CES).
CF vs SNEX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.2B |
| Net Profit | $495.0M | $139.0M |
| Gross Margin | 40.9% | — |
| Operating Margin | 33.0% | 15.4% |
| Net Margin | 26.4% | 11.6% |
| Revenue YoY | 22.8% | 81.0% |
| Net Profit YoY | 26.3% | 63.3% |
| EPS (diluted) | $2.56 | $2.50 |
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 | $1.2B | ||
| Q3 25 | $1.7B | $32.7B | ||
| Q2 25 | $1.9B | $851.2M | ||
| Q1 25 | $1.7B | $820.4M | ||
| Q4 24 | $1.5B | $663.1M | ||
| Q3 24 | $1.4B | $31.1B | ||
| Q2 24 | $1.6B | $571.8M | ||
| Q1 24 | $1.5B | $509.2M |
| Q4 25 | $495.0M | $139.0M | ||
| Q3 25 | $460.0M | $85.7M | ||
| Q2 25 | $492.0M | $63.4M | ||
| Q1 25 | $351.0M | $71.7M | ||
| Q4 24 | $392.0M | $85.1M | ||
| Q3 24 | $341.0M | $76.7M | ||
| Q2 24 | $506.0M | $61.9M | ||
| Q1 24 | $238.0M | $53.1M |
| Q4 25 | 40.9% | — | ||
| Q3 25 | 38.1% | 3.7% | ||
| Q2 25 | 39.9% | — | ||
| Q1 25 | 34.4% | — | ||
| Q4 24 | 34.4% | — | ||
| Q3 24 | 32.4% | 3.0% | ||
| Q2 24 | 43.2% | — | ||
| Q1 24 | 27.8% | — |
| Q4 25 | 33.0% | 15.4% | ||
| Q3 25 | 35.0% | 0.3% | ||
| Q2 25 | 34.3% | -1.3% | ||
| Q1 25 | 27.4% | -1.0% | ||
| Q4 24 | 28.9% | -3.2% | ||
| Q3 24 | 26.6% | -0.0% | ||
| Q2 24 | 40.6% | -4.7% | ||
| Q1 24 | 20.6% | -2.5% |
| Q4 25 | 26.4% | 11.6% | ||
| Q3 25 | 27.7% | 0.3% | ||
| Q2 25 | 26.0% | 7.4% | ||
| Q1 25 | 21.1% | 8.7% | ||
| Q4 24 | 25.7% | 12.8% | ||
| Q3 24 | 24.9% | 0.2% | ||
| Q2 24 | 32.2% | 10.8% | ||
| Q1 24 | 16.2% | 10.4% |
| Q4 25 | $2.56 | $2.50 | ||
| Q3 25 | $2.19 | $0.72 | ||
| Q2 25 | $2.37 | $1.22 | ||
| Q1 25 | $1.85 | $1.41 | ||
| Q4 24 | $1.86 | $1.69 | ||
| Q3 24 | $1.55 | $2.32 | ||
| Q2 24 | $2.30 | $1.25 | ||
| Q1 24 | $1.03 | $1.09 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.6B |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $4.8B | $2.5B |
| Total Assets | $14.1B | $47.8B |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.3B |
| 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 | $2.5B | ||
| Q3 25 | $4.8B | $2.4B | ||
| Q2 25 | $5.0B | $2.0B | ||
| Q1 25 | $4.8B | $1.9B | ||
| Q4 24 | $5.0B | $1.8B | ||
| Q3 24 | $5.2B | $1.7B | ||
| Q2 24 | $5.5B | $1.6B | ||
| Q1 24 | $5.4B | $1.5B |
| Q4 25 | $14.1B | $47.8B | ||
| Q3 25 | $14.2B | $45.3B | ||
| Q2 25 | $13.8B | $34.3B | ||
| Q1 25 | $13.3B | $31.3B | ||
| Q4 24 | $13.5B | $29.6B | ||
| Q3 24 | $13.8B | $27.5B | ||
| Q2 24 | $13.8B | $25.9B | ||
| Q1 24 | $13.9B | $25.7B |
| 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 | $-1.3B |
| Free Cash FlowOCF − Capex | $313.0M | $-1.3B |
| FCF MarginFCF / Revenue | 16.7% | -106.4% |
| Capex IntensityCapex / Revenue | 12.1% | 1.3% |
| Cash ConversionOCF / Net Profit | 1.09× | -9.08× |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $3.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $-1.3B | ||
| Q3 25 | $1.1B | $3.5B | ||
| Q2 25 | $563.0M | $1.5B | ||
| Q1 25 | $586.0M | $-154.5M | ||
| Q4 24 | $420.0M | $-477.8M | ||
| Q3 24 | $931.0M | $192.6M | ||
| Q2 24 | $475.0M | $-622.1M | ||
| Q1 24 | $445.0M | $784.0M |
| Q4 25 | $313.0M | $-1.3B | ||
| Q3 25 | $717.0M | $3.5B | ||
| Q2 25 | $318.0M | $1.5B | ||
| Q1 25 | $454.0M | $-169.8M | ||
| Q4 24 | $223.0M | $-491.4M | ||
| Q3 24 | $792.0M | $175.9M | ||
| Q2 24 | $391.0M | $-640.5M | ||
| Q1 24 | $347.0M | $766.6M |
| Q4 25 | 16.7% | -106.4% | ||
| Q3 25 | 43.2% | 10.7% | ||
| Q2 25 | 16.8% | 173.3% | ||
| Q1 25 | 27.3% | -20.7% | ||
| Q4 24 | 14.6% | -74.1% | ||
| Q3 24 | 57.8% | 0.6% | ||
| Q2 24 | 24.9% | -112.0% | ||
| Q1 24 | 23.6% | 150.5% |
| Q4 25 | 12.1% | 1.3% | ||
| Q3 25 | 20.9% | 0.1% | ||
| Q2 25 | 13.0% | 1.9% | ||
| Q1 25 | 7.9% | 1.9% | ||
| Q4 24 | 12.9% | 2.1% | ||
| Q3 24 | 10.1% | 0.1% | ||
| Q2 24 | 5.3% | 3.2% | ||
| Q1 24 | 6.7% | 3.4% |
| Q4 25 | 1.09× | -9.08× | ||
| Q3 25 | 2.31× | 41.18× | ||
| Q2 25 | 1.14× | 23.52× | ||
| Q1 25 | 1.67× | -2.15× | ||
| Q4 24 | 1.07× | -5.61× | ||
| Q3 24 | 2.73× | 2.51× | ||
| Q2 24 | 0.94× | -10.05× | ||
| Q1 24 | 1.87× | 14.76× |
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% |
SNEX
Segment breakdown not available.
