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Side-by-side financial comparison of CF Industries (CF) and Snowflake Inc. (SNOW). 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 1.5× Snowflake Inc.). CF Industries runs the higher net margin — 26.4% vs -24.2%, a 50.7% gap on every dollar of revenue. On growth, Snowflake Inc. posted the faster year-over-year revenue change (28.7% vs 22.8%). CF Industries produced more free cash flow last quarter ($313.0M vs $113.6M). Over the past eight quarters, Snowflake Inc.'s revenue compounded faster (25.1% 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.
Snowflake Inc. is an American cloud-based data platform company founded in San Mateo, California, and headquartered in Bozeman, Montana. It operates a platform that supports data analysis and simultaneous access to data sets with minimal latency. It operates on Amazon Web Services, Microsoft Azure, and Google Cloud Platform.
CF vs SNOW — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.2B |
| Net Profit | $495.0M | $-294.0M |
| Gross Margin | 40.9% | 67.8% |
| Operating Margin | 33.0% | -27.2% |
| Net Margin | 26.4% | -24.2% |
| Revenue YoY | 22.8% | 28.7% |
| Net Profit YoY | 26.3% | 9.4% |
| EPS (diluted) | $2.56 | $-0.87 |
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 | $1.1B | ||
| Q2 25 | $1.9B | $1.0B | ||
| Q1 25 | $1.7B | $986.8M | ||
| Q4 24 | $1.5B | $942.1M | ||
| Q3 24 | $1.4B | $868.8M | ||
| Q2 24 | $1.6B | $828.7M | ||
| Q1 24 | $1.5B | $774.7M |
| Q4 25 | $495.0M | $-294.0M | ||
| Q3 25 | $460.0M | $-298.0M | ||
| Q2 25 | $492.0M | $-430.1M | ||
| Q1 25 | $351.0M | $-327.5M | ||
| Q4 24 | $392.0M | $-324.3M | ||
| Q3 24 | $341.0M | $-316.9M | ||
| Q2 24 | $506.0M | $-317.0M | ||
| Q1 24 | $238.0M | $-169.4M |
| Q4 25 | 40.9% | 67.8% | ||
| Q3 25 | 38.1% | 67.5% | ||
| Q2 25 | 39.9% | 66.5% | ||
| Q1 25 | 34.4% | 66.2% | ||
| Q4 24 | 34.4% | 65.9% | ||
| Q3 24 | 32.4% | 66.8% | ||
| Q2 24 | 43.2% | 67.1% | ||
| Q1 24 | 27.8% | 68.8% |
| Q4 25 | 33.0% | -27.2% | ||
| Q3 25 | 35.0% | -29.7% | ||
| Q2 25 | 34.3% | -42.9% | ||
| Q1 25 | 27.4% | -39.2% | ||
| Q4 24 | 28.9% | -38.8% | ||
| Q3 24 | 26.6% | -40.9% | ||
| Q2 24 | 40.6% | -42.1% | ||
| Q1 24 | 20.6% | -35.6% |
| Q4 25 | 26.4% | -24.2% | ||
| Q3 25 | 27.7% | -26.0% | ||
| Q2 25 | 26.0% | -41.3% | ||
| Q1 25 | 21.1% | -33.2% | ||
| Q4 24 | 25.7% | -34.4% | ||
| Q3 24 | 24.9% | -36.5% | ||
| Q2 24 | 32.2% | -38.3% | ||
| Q1 24 | 16.2% | -21.9% |
| Q4 25 | $2.56 | $-0.87 | ||
| Q3 25 | $2.19 | $-0.89 | ||
| Q2 25 | $2.37 | $-1.29 | ||
| Q1 25 | $1.85 | $-0.98 | ||
| Q4 24 | $1.86 | $-0.98 | ||
| Q3 24 | $1.55 | $-0.95 | ||
| Q2 24 | $2.30 | $-0.95 | ||
| Q1 24 | $1.03 | $-0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.9B |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $4.8B | $2.1B |
| Total Assets | $14.1B | $8.2B |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.8B |
| 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 | $2.1B | ||
| Q3 25 | $4.8B | $2.4B | ||
| Q2 25 | $5.0B | $2.4B | ||
| Q1 25 | $4.8B | $3.0B | ||
| Q4 24 | $5.0B | $2.9B | ||
| Q3 24 | $5.2B | $4.1B | ||
| Q2 24 | $5.5B | $4.6B | ||
| Q1 24 | $5.4B | $5.2B |
| Q4 25 | $14.1B | $8.2B | ||
| Q3 25 | $14.2B | $8.2B | ||
| Q2 25 | $13.8B | $8.2B | ||
| Q1 25 | $13.3B | $9.0B | ||
| Q4 24 | $13.5B | $8.2B | ||
| Q3 24 | $13.8B | $6.9B | ||
| Q2 24 | $13.8B | $7.3B | ||
| Q1 24 | $13.9B | $8.2B |
| 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 | $137.5M |
| Free Cash FlowOCF − Capex | $313.0M | $113.6M |
| FCF MarginFCF / Revenue | 16.7% | 9.4% |
| Capex IntensityCapex / Revenue | 12.1% | 2.0% |
| Cash ConversionOCF / Net Profit | 1.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.8B | $776.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $539.0M | $137.5M | ||
| Q3 25 | $1.1B | $74.9M | ||
| Q2 25 | $563.0M | $228.4M | ||
| Q1 25 | $586.0M | $432.7M | ||
| Q4 24 | $420.0M | $101.7M | ||
| Q3 24 | $931.0M | $69.9M | ||
| Q2 24 | $475.0M | $355.5M | ||
| Q1 24 | $445.0M | $344.6M |
| Q4 25 | $313.0M | $113.6M | ||
| Q3 25 | $717.0M | $58.2M | ||
| Q2 25 | $318.0M | $183.4M | ||
| Q1 25 | $454.0M | $421.4M | ||
| Q4 24 | $223.0M | $88.3M | ||
| Q3 24 | $792.0M | $64.8M | ||
| Q2 24 | $391.0M | $338.9M | ||
| Q1 24 | $347.0M | $331.5M |
| Q4 25 | 16.7% | 9.4% | ||
| Q3 25 | 43.2% | 5.1% | ||
| Q2 25 | 16.8% | 17.6% | ||
| Q1 25 | 27.3% | 42.7% | ||
| Q4 24 | 14.6% | 9.4% | ||
| Q3 24 | 57.8% | 7.5% | ||
| Q2 24 | 24.9% | 40.9% | ||
| Q1 24 | 23.6% | 42.8% |
| Q4 25 | 12.1% | 2.0% | ||
| Q3 25 | 20.9% | 1.5% | ||
| Q2 25 | 13.0% | 4.3% | ||
| Q1 25 | 7.9% | 1.1% | ||
| Q4 24 | 12.9% | 1.4% | ||
| Q3 24 | 10.1% | 0.6% | ||
| Q2 24 | 5.3% | 2.0% | ||
| 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× | — | ||
| 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% |
SNOW
| Products | $1.2B | 96% |
| Professional Services And Other | $54.5M | 4% |
| Related Party | $6.7M | 1% |
