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Side-by-side financial comparison of CF Industries (CF) and Virtu Financial, Inc. (VIRT). Click either name above to swap in a different company.
CF Industries is the larger business by last-quarter revenue ($1.9B vs $1.1B, roughly 1.7× Virtu Financial, Inc.). Virtu Financial, Inc. runs the higher net margin — 31.6% vs 26.4%, a 5.2% gap on every dollar of revenue. On growth, Virtu Financial, Inc. posted the faster year-over-year revenue change (30.7% vs 22.8%). Over the past eight quarters, Virtu Financial, Inc.'s revenue compounded faster (25.7% 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.
Virtu Financial, Inc. is an American high-frequency trading company. The company went public on the Nasdaq in 2015.
CF vs VIRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.1B |
| Net Profit | $495.0M | $346.6M |
| Gross Margin | 40.9% | — |
| Operating Margin | 33.0% | 37.4% |
| Net Margin | 26.4% | 31.6% |
| Revenue YoY | 22.8% | 30.7% |
| Net Profit YoY | 26.3% | 82.8% |
| EPS (diluted) | $2.56 | $1.99 |
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 | — | $1.1B | ||
| Q4 25 | $1.9B | $969.9M | ||
| Q3 25 | $1.7B | $824.8M | ||
| Q2 25 | $1.9B | $999.6M | ||
| Q1 25 | $1.7B | $837.9M | ||
| Q4 24 | $1.5B | $834.3M | ||
| Q3 24 | $1.4B | $706.8M | ||
| Q2 24 | $1.6B | $693.0M |
| Q1 26 | — | $346.6M | ||
| Q4 25 | $495.0M | $139.9M | ||
| Q3 25 | $460.0M | $77.6M | ||
| Q2 25 | $492.0M | $151.2M | ||
| Q1 25 | $351.0M | $99.7M | ||
| Q4 24 | $392.0M | $94.1M | ||
| Q3 24 | $341.0M | $60.0M | ||
| Q2 24 | $506.0M | $66.6M |
| 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 | — | 37.4% | ||
| Q4 25 | 33.0% | 35.4% | ||
| Q3 25 | 35.0% | 21.8% | ||
| Q2 25 | 34.3% | 34.7% | ||
| Q1 25 | 27.4% | 26.7% | ||
| Q4 24 | 28.9% | 24.3% | ||
| Q3 24 | 26.6% | 20.8% | ||
| Q2 24 | 40.6% | 22.4% |
| Q1 26 | — | 31.6% | ||
| Q4 25 | 26.4% | 14.4% | ||
| Q3 25 | 27.7% | 9.4% | ||
| Q2 25 | 26.0% | 15.1% | ||
| Q1 25 | 21.1% | 11.9% | ||
| Q4 24 | 25.7% | 11.3% | ||
| Q3 24 | 24.9% | 8.5% | ||
| Q2 24 | 32.2% | 9.6% |
| Q1 26 | — | $1.99 | ||
| Q4 25 | $2.56 | $1.54 | ||
| Q3 25 | $2.19 | $0.86 | ||
| Q2 25 | $2.37 | $1.65 | ||
| Q1 25 | $1.85 | $1.08 | ||
| Q4 24 | $1.86 | $1.03 | ||
| Q3 24 | $1.55 | $0.64 | ||
| Q2 24 | $2.30 | $0.71 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $973.2M |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $4.8B | $2.2B |
| Total Assets | $14.1B | $25.1B |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $973.2M | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $707.9M | ||
| Q2 25 | — | $752.1M | ||
| Q1 25 | — | $723.6M | ||
| Q4 24 | — | $872.5M | ||
| Q3 24 | — | $701.4M | ||
| Q2 24 | — | $684.8M |
| Q1 26 | — | — | ||
| Q4 25 | $3.2B | $2.0B | ||
| Q3 25 | $3.0B | $2.0B | ||
| Q2 25 | $3.0B | $1.7B | ||
| Q1 25 | $3.0B | $1.7B | ||
| Q4 24 | $3.0B | $1.7B | ||
| Q3 24 | $3.0B | $1.7B | ||
| Q2 24 | $3.0B | $1.7B |
| Q1 26 | — | $2.2B | ||
| Q4 25 | $4.8B | $1.6B | ||
| Q3 25 | $4.8B | $1.5B | ||
| Q2 25 | $5.0B | $1.4B | ||
| Q1 25 | $4.8B | $1.3B | ||
| Q4 24 | $5.0B | $1.3B | ||
| Q3 24 | $5.2B | $1.2B | ||
| Q2 24 | $5.5B | $1.2B |
| Q1 26 | — | $25.1B | ||
| Q4 25 | $14.1B | $20.2B | ||
| Q3 25 | $14.2B | $21.3B | ||
| Q2 25 | $13.8B | $19.3B | ||
| Q1 25 | $13.3B | $17.5B | ||
| Q4 24 | $13.5B | $15.4B | ||
| Q3 24 | $13.8B | $14.4B | ||
| Q2 24 | $13.8B | $13.9B |
| Q1 26 | — | — | ||
| Q4 25 | 0.66× | 1.29× | ||
| Q3 25 | 0.61× | 1.40× | ||
| Q2 25 | 0.60× | 1.24× | ||
| Q1 25 | 0.62× | 1.33× | ||
| Q4 24 | 0.60× | 1.39× | ||
| Q3 24 | 0.57× | 1.41× | ||
| Q2 24 | 0.54× | 1.41× |
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 | $518.4M | ||
| Q3 25 | $1.1B | $-68.7M | ||
| Q2 25 | $563.0M | $62.8M | ||
| Q1 25 | $586.0M | $15.0M | ||
| Q4 24 | $420.0M | $599.0M | ||
| Q3 24 | $931.0M | $112.1M | ||
| Q2 24 | $475.0M | $490.8M |
| Q1 26 | — | — | ||
| Q4 25 | $313.0M | $495.6M | ||
| Q3 25 | $717.0M | $-76.7M | ||
| Q2 25 | $318.0M | $57.6M | ||
| Q1 25 | $454.0M | $9.2M | ||
| Q4 24 | $223.0M | $586.6M | ||
| Q3 24 | $792.0M | $106.2M | ||
| Q2 24 | $391.0M | $486.9M |
| Q1 26 | — | — | ||
| Q4 25 | 16.7% | 51.1% | ||
| Q3 25 | 43.2% | -9.3% | ||
| Q2 25 | 16.8% | 5.8% | ||
| Q1 25 | 27.3% | 1.1% | ||
| Q4 24 | 14.6% | 70.3% | ||
| Q3 24 | 57.8% | 15.0% | ||
| Q2 24 | 24.9% | 70.3% |
| Q1 26 | — | — | ||
| Q4 25 | 12.1% | 2.4% | ||
| Q3 25 | 20.9% | 1.0% | ||
| Q2 25 | 13.0% | 0.5% | ||
| Q1 25 | 7.9% | 0.7% | ||
| Q4 24 | 12.9% | 1.5% | ||
| Q3 24 | 10.1% | 0.8% | ||
| Q2 24 | 5.3% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.09× | 3.71× | ||
| Q3 25 | 2.31× | -0.89× | ||
| Q2 25 | 1.14× | 0.42× | ||
| Q1 25 | 1.67× | 0.15× | ||
| Q4 24 | 1.07× | 6.37× | ||
| Q3 24 | 2.73× | 1.87× | ||
| Q2 24 | 0.94× | 7.37× |
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% |
VIRT
| Trading income, net | $789.1M | 72% |
| Commissions, net and technology services | $186.6M | 17% |
| Other | $119.6M | 11% |
