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Side-by-side financial comparison of CF Industries (CF) and TKO Group Holdings (TKO). Click either name above to swap in a different company.
CF Industries is the larger business by last-quarter revenue ($1.9B vs $1.0B, roughly 1.8× TKO Group Holdings). CF Industries runs the higher net margin — 26.4% vs -0.2%, a 26.7% gap on every dollar of revenue. On growth, TKO Group Holdings posted the faster year-over-year revenue change (61.6% vs 22.8%). Over the past eight quarters, TKO Group Holdings's revenue compounded faster (28.4% 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.
TKO Group Holdings, Inc. (TKO) is an American sports and sports entertainment company. Established on September 12, 2023, the public company was formed by a merger between Endeavor subsidiary Zuffa—the parent company of the Ultimate Fighting Championship (UFC), a mixed martial arts promotion—and the professional wrestling promotion World Wrestling Entertainment (WWE).
CF vs TKO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.0B |
| Net Profit | $495.0M | $-2.4M |
| Gross Margin | 40.9% | — |
| Operating Margin | 33.0% | 5.5% |
| Net Margin | 26.4% | -0.2% |
| Revenue YoY | 22.8% | 61.6% |
| Net Profit YoY | 26.3% | -107.7% |
| EPS (diluted) | $2.56 | $-0.07 |
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 | $1.0B | ||
| Q3 25 | $1.7B | $1.1B | ||
| Q2 25 | $1.9B | $1.3B | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $1.5B | $642.2M | ||
| Q3 24 | $1.4B | $681.3M | ||
| Q2 24 | $1.6B | $851.2M | ||
| Q1 24 | $1.5B | $629.7M |
| Q4 25 | $495.0M | $-2.4M | ||
| Q3 25 | $460.0M | $41.0M | ||
| Q2 25 | $492.0M | $98.4M | ||
| Q1 25 | $351.0M | $58.4M | ||
| Q4 24 | $392.0M | $31.0M | ||
| Q3 24 | $341.0M | $23.1M | ||
| Q2 24 | $506.0M | $59.1M | ||
| Q1 24 | $238.0M | $-103.8M |
| 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 24 | 27.8% | — |
| Q4 25 | 33.0% | 5.5% | ||
| Q3 25 | 35.0% | 15.4% | ||
| Q2 25 | 34.3% | 28.1% | ||
| Q1 25 | 27.4% | 18.7% | ||
| Q4 24 | 28.9% | 15.9% | ||
| Q3 24 | 26.6% | 20.0% | ||
| Q2 24 | 40.6% | 30.0% | ||
| Q1 24 | 20.6% | -33.4% |
| Q4 25 | 26.4% | -0.2% | ||
| Q3 25 | 27.7% | 3.7% | ||
| Q2 25 | 26.0% | 7.5% | ||
| Q1 25 | 21.1% | 4.6% | ||
| Q4 24 | 25.7% | 4.8% | ||
| Q3 24 | 24.9% | 3.4% | ||
| Q2 24 | 32.2% | 6.9% | ||
| Q1 24 | 16.2% | -16.5% |
| Q4 25 | $2.56 | $-0.07 | ||
| Q3 25 | $2.19 | $0.47 | ||
| Q2 25 | $2.37 | $1.17 | ||
| Q1 25 | $1.85 | $0.69 | ||
| Q4 24 | $1.86 | $0.28 | ||
| Q3 24 | $1.55 | $0.28 | ||
| Q2 24 | $2.30 | $0.72 | ||
| Q1 24 | $1.03 | $-1.26 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $831.1M |
| Total DebtLower is stronger | $3.2B | $3.8B |
| Stockholders' EquityBook value | $4.8B | $3.7B |
| Total Assets | $14.1B | $15.5B |
| Debt / EquityLower = less leverage | 0.66× | 1.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $831.1M | ||
| Q3 25 | — | $861.4M | ||
| Q2 25 | — | $535.1M | ||
| Q1 25 | — | $470.9M | ||
| Q4 24 | — | $525.6M | ||
| Q3 24 | — | $457.4M | ||
| Q2 24 | — | $277.5M | ||
| Q1 24 | — | $245.8M |
| Q4 25 | $3.2B | $3.8B | ||
| Q3 25 | $3.0B | $3.7B | ||
| Q2 25 | $3.0B | $2.7B | ||
| Q1 25 | $3.0B | $2.8B | ||
| Q4 24 | $3.0B | $2.8B | ||
| Q3 24 | $3.0B | $2.7B | ||
| Q2 24 | $3.0B | $2.7B | ||
| Q1 24 | $3.0B | $2.7B |
| Q4 25 | $4.8B | $3.7B | ||
| Q3 25 | $4.8B | $3.8B | ||
| Q2 25 | $5.0B | $4.3B | ||
| Q1 25 | $4.8B | $4.2B | ||
| Q4 24 | $5.0B | $4.1B | ||
| Q3 24 | $5.2B | $4.0B | ||
| Q2 24 | $5.5B | $4.0B | ||
| Q1 24 | $5.4B | $4.0B |
| Q4 25 | $14.1B | $15.5B | ||
| Q3 25 | $14.2B | $15.5B | ||
| Q2 25 | $13.8B | $15.3B | ||
| Q1 25 | $13.3B | $15.0B | ||
| Q4 24 | $13.5B | $12.7B | ||
| Q3 24 | $13.8B | $12.8B | ||
| Q2 24 | $13.8B | $12.7B | ||
| Q1 24 | $13.9B | $12.7B |
| Q4 25 | 0.66× | 1.01× | ||
| Q3 25 | 0.61× | 0.98× | ||
| Q2 25 | 0.60× | 0.64× | ||
| Q1 25 | 0.62× | 0.66× | ||
| Q4 24 | 0.60× | 0.67× | ||
| Q3 24 | 0.57× | 0.67× | ||
| Q2 24 | 0.54× | 0.68× | ||
| Q1 24 | 0.55× | 0.68× |
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 | $309.9M |
| 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.
| Q4 25 | $539.0M | $309.9M | ||
| Q3 25 | $1.1B | $416.8M | ||
| Q2 25 | $563.0M | $396.2M | ||
| Q1 25 | $586.0M | $162.8M | ||
| Q4 24 | $420.0M | $56.8M | ||
| Q3 24 | $931.0M | $236.5M | ||
| Q2 24 | $475.0M | $230.7M | ||
| Q1 24 | $445.0M | $59.3M |
| Q4 25 | $313.0M | — | ||
| Q3 25 | $717.0M | — | ||
| Q2 25 | $318.0M | — | ||
| Q1 25 | $454.0M | — | ||
| Q4 24 | $223.0M | — | ||
| Q3 24 | $792.0M | — | ||
| Q2 24 | $391.0M | — | ||
| Q1 24 | $347.0M | — |
| Q4 25 | 16.7% | — | ||
| Q3 25 | 43.2% | — | ||
| Q2 25 | 16.8% | — | ||
| Q1 25 | 27.3% | — | ||
| Q4 24 | 14.6% | — | ||
| Q3 24 | 57.8% | — | ||
| Q2 24 | 24.9% | — | ||
| Q1 24 | 23.6% | — |
| Q4 25 | 12.1% | — | ||
| Q3 25 | 20.9% | — | ||
| Q2 25 | 13.0% | — | ||
| Q1 25 | 7.9% | — | ||
| Q4 24 | 12.9% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 5.3% | — | ||
| Q1 24 | 6.7% | — |
| Q4 25 | 1.09× | — | ||
| Q3 25 | 2.31× | 10.16× | ||
| Q2 25 | 1.14× | 4.03× | ||
| Q1 25 | 1.67× | 2.79× | ||
| Q4 24 | 1.07× | 1.83× | ||
| Q3 24 | 2.73× | 10.22× | ||
| Q2 24 | 0.94× | 3.90× | ||
| 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% |
TKO
| World Wrestling Entertainment Segment | $359.6M | 35% |
| IMG Segment | $247.6M | 24% |
| Media Rights Production And Content | $222.6M | 21% |
| Partnerships And Marketing | $93.3M | 9% |
| Live Events And Hospitality | $72.2M | 7% |
| Other | $29.4M | 3% |
| Consumer Products Licensing And Other | $13.2M | 1% |
