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Side-by-side financial comparison of Confluent, Inc. (CFLT) and Essex Property Trust (ESS). Click either name above to swap in a different company.
Essex Property Trust is the larger business by last-quarter revenue ($479.6M vs $314.8M, roughly 1.5× Confluent, Inc.). Essex Property Trust runs the higher net margin — 17.9% vs -25.2%, a 43.0% gap on every dollar of revenue. On growth, Confluent, Inc. posted the faster year-over-year revenue change (20.5% vs 5.5%). Over the past eight quarters, Confluent, Inc.'s revenue compounded faster (20.4% CAGR vs 6.0%).
Confluent, Inc. is an American technology company headquartered in Mountain View, California. Confluent was founded by Jay Kreps, Jun Rao and Neha Narkhede on September 23, 2014, in order to commercialize an open-source streaming platform Apache Kafka, created by the same founders while working at LinkedIn in 2008 as a B2B infrastructure company. Confluent's products are the Confluent Cloud, Confluent Platform, Connectors, Apache Flink, Stream Governance and Confluent Hub.
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
CFLT vs ESS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $314.8M | $479.6M |
| Net Profit | $-79.2M | $85.7M |
| Gross Margin | 74.7% | 70.0% |
| Operating Margin | -31.5% | 31.7% |
| Net Margin | -25.2% | 17.9% |
| Revenue YoY | 20.5% | 5.5% |
| Net Profit YoY | 10.0% | -71.6% |
| EPS (diluted) | $-0.23 | $1.24 |
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 | $314.8M | $479.6M | ||
| Q3 25 | $298.5M | $473.3M | ||
| Q2 25 | $282.3M | $469.8M | ||
| Q1 25 | $271.1M | $464.6M | ||
| Q4 24 | $261.2M | $454.5M | ||
| Q3 24 | $250.2M | $450.7M | ||
| Q2 24 | $235.0M | $442.4M | ||
| Q1 24 | $217.2M | $426.9M |
| Q4 25 | $-79.2M | $85.7M | ||
| Q3 25 | $-66.5M | $172.7M | ||
| Q2 25 | $-82.0M | $231.5M | ||
| Q1 25 | $-67.6M | $212.8M | ||
| Q4 24 | $-88.1M | $301.7M | ||
| Q3 24 | $-74.1M | $125.5M | ||
| Q2 24 | $-89.9M | $99.0M | ||
| Q1 24 | $-93.0M | $285.1M |
| Q4 25 | 74.7% | 70.0% | ||
| Q3 25 | 74.2% | 69.2% | ||
| Q2 25 | 73.7% | 70.7% | ||
| Q1 25 | 74.5% | 69.6% | ||
| Q4 24 | 74.1% | 70.0% | ||
| Q3 24 | 74.5% | 69.5% | ||
| Q2 24 | 72.3% | 70.8% | ||
| Q1 24 | 71.8% | 69.7% |
| Q4 25 | -31.5% | 31.7% | ||
| Q3 25 | -27.9% | 44.5% | ||
| Q2 25 | -34.2% | 59.5% | ||
| Q1 25 | -37.3% | 55.3% | ||
| Q4 24 | -40.5% | 67.0% | ||
| Q3 24 | -37.4% | 28.6% | ||
| Q2 24 | -46.1% | 31.1% | ||
| Q1 24 | -51.3% | 31.0% |
| Q4 25 | -25.2% | 17.9% | ||
| Q3 25 | -22.3% | 36.5% | ||
| Q2 25 | -29.0% | 49.3% | ||
| Q1 25 | -24.9% | 45.8% | ||
| Q4 24 | -33.7% | 66.4% | ||
| Q3 24 | -29.6% | 27.8% | ||
| Q2 24 | -38.3% | 22.4% | ||
| Q1 24 | -42.8% | 66.8% |
| Q4 25 | $-0.23 | $1.24 | ||
| Q3 25 | $-0.19 | $2.56 | ||
| Q2 25 | $-0.24 | $3.44 | ||
| Q1 25 | $-0.20 | $3.16 | ||
| Q4 24 | $-0.26 | $4.00 | ||
| Q3 24 | $-0.23 | $1.84 | ||
| Q2 24 | $-0.28 | $1.45 | ||
| Q1 24 | $-0.30 | $4.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $347.2M | $76.2M |
| Total DebtLower is stronger | $1.1B | — |
| Stockholders' EquityBook value | $1.2B | $5.5B |
| Total Assets | $3.0B | $13.2B |
| Debt / EquityLower = less leverage | 0.94× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $347.2M | $76.2M | ||
| Q3 25 | $298.5M | $66.0M | ||
| Q2 25 | $295.6M | $58.7M | ||
| Q1 25 | $278.6M | $98.7M | ||
| Q4 24 | $386.0M | $66.8M | ||
| Q3 24 | $322.6M | $71.3M | ||
| Q2 24 | $311.3M | $55.2M | ||
| Q1 24 | $336.4M | $499.0M |
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | $6.4B | ||
| Q2 25 | $1.1B | $6.4B | ||
| Q1 25 | $1.1B | $6.8B | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | $6.4B | ||
| Q2 24 | $1.1B | $6.2B | ||
| Q1 24 | $1.1B | $6.6B |
| Q4 25 | $1.2B | $5.5B | ||
| Q3 25 | $1.1B | $5.6B | ||
| Q2 25 | $1.1B | $5.6B | ||
| Q1 25 | $1.0B | $5.6B | ||
| Q4 24 | $961.2M | $5.5B | ||
| Q3 24 | $934.3M | $5.4B | ||
| Q2 24 | $873.9M | $5.5B | ||
| Q1 24 | $845.2M | $5.5B |
| Q4 25 | $3.0B | $13.2B | ||
| Q3 25 | $2.9B | $13.2B | ||
| Q2 25 | $2.8B | $13.2B | ||
| Q1 25 | $2.7B | $13.2B | ||
| Q4 24 | $2.7B | $12.9B | ||
| Q3 24 | $2.6B | $12.6B | ||
| Q2 24 | $2.5B | $12.5B | ||
| Q1 24 | $2.4B | $12.9B |
| Q4 25 | 0.94× | — | ||
| Q3 25 | 0.98× | 1.15× | ||
| Q2 25 | 1.03× | 1.14× | ||
| Q1 25 | 1.07× | 1.22× | ||
| Q4 24 | 1.14× | — | ||
| Q3 24 | 1.17× | 1.18× | ||
| Q2 24 | 1.25× | 1.13× | ||
| Q1 24 | 1.29× | 1.19× |
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 | $42.1M | $1.1B |
| Free Cash FlowOCF − Capex | $41.7M | — |
| FCF MarginFCF / Revenue | 13.2% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | — | 12.53× |
| TTM Free Cash FlowTrailing 4 quarters | $60.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $42.1M | $1.1B | ||
| Q3 25 | $30.8M | $342.6M | ||
| Q2 25 | $18.1M | $216.1M | ||
| Q1 25 | $-26.8M | $281.5M | ||
| Q4 24 | $35.2M | $1.1B | ||
| Q3 24 | $15.6M | $316.2M | ||
| Q2 24 | $8.6M | $218.9M | ||
| Q1 24 | $-26.0M | $314.9M |
| Q4 25 | $41.7M | — | ||
| Q3 25 | $30.0M | — | ||
| Q2 25 | $17.2M | — | ||
| Q1 25 | $-28.2M | — | ||
| Q4 24 | $34.5M | — | ||
| Q3 24 | $15.0M | — | ||
| Q2 24 | $7.5M | — | ||
| Q1 24 | $-26.1M | — |
| Q4 25 | 13.2% | — | ||
| Q3 25 | 10.0% | — | ||
| Q2 25 | 6.1% | — | ||
| Q1 25 | -10.4% | — | ||
| Q4 24 | 13.2% | — | ||
| Q3 24 | 6.0% | — | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | -12.0% | — |
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 0.1% | — |
| Q4 25 | — | 12.53× | ||
| Q3 25 | — | 1.98× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | — | 1.32× | ||
| Q4 24 | — | 3.54× | ||
| Q3 24 | — | 2.52× | ||
| Q2 24 | — | 2.21× | ||
| Q1 24 | — | 1.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CFLT
| Confluent Cloud | $169.4M | 54% |
| Post Contract Customer Support | $93.8M | 30% |
| License | $38.4M | 12% |
| Services | $13.2M | 4% |
ESS
Segment breakdown not available.
