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Side-by-side financial comparison of Confluent, Inc. (CFLT) and FIRST INTERSTATE BANCSYSTEM INC (FIBK). Click either name above to swap in a different company.
Confluent, Inc. is the larger business by last-quarter revenue ($314.8M vs $313.0M, roughly 1.0× FIRST INTERSTATE BANCSYSTEM INC). FIRST INTERSTATE BANCSYSTEM INC runs the higher net margin — 34.8% vs -25.2%, a 59.9% gap on every dollar of revenue. On growth, Confluent, Inc. posted the faster year-over-year revenue change (20.5% vs 19.8%). Over the past eight quarters, Confluent, Inc.'s revenue compounded faster (20.4% CAGR vs 13.7%).
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.
First Interstate BancSystem, Inc. is a financial holding company headquartered in Billings, Montana. It is the parent company of First Interstate Bank, a community bank with locations throughout 14 states within the Western and Midwestern United States. It is the largest bank based in Montana, as measured by total assets.
CFLT vs FIBK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $314.8M | $313.0M |
| Net Profit | $-79.2M | $108.8M |
| Gross Margin | 74.7% | — |
| Operating Margin | -31.5% | 44.5% |
| Net Margin | -25.2% | 34.8% |
| Revenue YoY | 20.5% | 19.8% |
| Net Profit YoY | 10.0% | 108.8% |
| EPS (diluted) | $-0.23 | $1.07 |
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 | $314.8M | $313.0M | ||
| Q3 25 | $298.5M | $250.5M | ||
| Q2 25 | $282.3M | $248.3M | ||
| Q1 25 | $271.1M | $247.0M | ||
| Q4 24 | $261.2M | $261.3M | ||
| Q3 24 | $250.2M | $251.9M | ||
| Q2 24 | $235.0M | $244.3M | ||
| Q1 24 | $217.2M | $242.2M |
| Q4 25 | $-79.2M | $108.8M | ||
| Q3 25 | $-66.5M | $71.4M | ||
| Q2 25 | $-82.0M | $71.7M | ||
| Q1 25 | $-67.6M | $50.2M | ||
| Q4 24 | $-88.1M | $52.1M | ||
| Q3 24 | $-74.1M | $55.5M | ||
| Q2 24 | $-89.9M | $60.0M | ||
| Q1 24 | $-93.0M | $58.4M |
| Q4 25 | 74.7% | — | ||
| Q3 25 | 74.2% | — | ||
| Q2 25 | 73.7% | — | ||
| Q1 25 | 74.5% | — | ||
| Q4 24 | 74.1% | — | ||
| Q3 24 | 74.5% | — | ||
| Q2 24 | 72.3% | — | ||
| Q1 24 | 71.8% | — |
| Q4 25 | -31.5% | 44.5% | ||
| Q3 25 | -27.9% | 37.0% | ||
| Q2 25 | -34.2% | 37.7% | ||
| Q1 25 | -37.3% | 26.9% | ||
| Q4 24 | -40.5% | 25.5% | ||
| Q3 24 | -37.4% | 28.9% | ||
| Q2 24 | -46.1% | 32.1% | ||
| Q1 24 | -51.3% | 31.7% |
| Q4 25 | -25.2% | 34.8% | ||
| Q3 25 | -22.3% | 28.5% | ||
| Q2 25 | -29.0% | 28.9% | ||
| Q1 25 | -24.9% | 20.3% | ||
| Q4 24 | -33.7% | 19.9% | ||
| Q3 24 | -29.6% | 22.0% | ||
| Q2 24 | -38.3% | 24.6% | ||
| Q1 24 | -42.8% | 24.1% |
| Q4 25 | $-0.23 | $1.07 | ||
| Q3 25 | $-0.19 | $0.69 | ||
| Q2 25 | $-0.24 | $0.69 | ||
| Q1 25 | $-0.20 | $0.49 | ||
| Q4 24 | $-0.26 | $0.50 | ||
| Q3 24 | $-0.23 | $0.54 | ||
| Q2 24 | $-0.28 | $0.58 | ||
| Q1 24 | $-0.30 | $0.57 |
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 | — |
| Total DebtLower is stronger | $1.1B | $146.3M |
| Stockholders' EquityBook value | $1.2B | $3.4B |
| Total Assets | $3.0B | $26.6B |
| Debt / EquityLower = less leverage | 0.94× | 0.04× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $347.2M | — | ||
| Q3 25 | $298.5M | — | ||
| Q2 25 | $295.6M | — | ||
| Q1 25 | $278.6M | — | ||
| Q4 24 | $386.0M | — | ||
| Q3 24 | $322.6M | — | ||
| Q2 24 | $311.3M | — | ||
| Q1 24 | $336.4M | — |
| Q4 25 | $1.1B | $146.3M | ||
| Q3 25 | $1.1B | $146.2M | ||
| Q2 25 | $1.1B | $252.0M | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | $132.2M | ||
| Q3 24 | $1.1B | $137.3M | ||
| Q2 24 | $1.1B | $383.4M | ||
| Q1 24 | $1.1B | $370.8M |
| Q4 25 | $1.2B | $3.4B | ||
| Q3 25 | $1.1B | $3.4B | ||
| Q2 25 | $1.1B | $3.4B | ||
| Q1 25 | $1.0B | $3.4B | ||
| Q4 24 | $961.2M | $3.3B | ||
| Q3 24 | $934.3M | $3.4B | ||
| Q2 24 | $873.9M | $3.2B | ||
| Q1 24 | $845.2M | $3.2B |
| Q4 25 | $3.0B | $26.6B | ||
| Q3 25 | $2.9B | $27.3B | ||
| Q2 25 | $2.8B | $27.6B | ||
| Q1 25 | $2.7B | $28.3B | ||
| Q4 24 | $2.7B | $29.1B | ||
| Q3 24 | $2.6B | $29.6B | ||
| Q2 24 | $2.5B | $30.3B | ||
| Q1 24 | $2.4B | $30.1B |
| Q4 25 | 0.94× | 0.04× | ||
| Q3 25 | 0.98× | 0.04× | ||
| Q2 25 | 1.03× | 0.07× | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | 1.14× | 0.04× | ||
| Q3 24 | 1.17× | 0.04× | ||
| Q2 24 | 1.25× | 0.12× | ||
| Q1 24 | 1.29× | 0.12× |
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 | $305.6M |
| Free Cash FlowOCF − Capex | $41.7M | — |
| FCF MarginFCF / Revenue | 13.2% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | — | 2.81× |
| TTM Free Cash FlowTrailing 4 quarters | $60.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $42.1M | $305.6M | ||
| Q3 25 | $30.8M | $91.7M | ||
| Q2 25 | $18.1M | $68.1M | ||
| Q1 25 | $-26.8M | $78.5M | ||
| Q4 24 | $35.2M | $355.0M | ||
| Q3 24 | $15.6M | $89.9M | ||
| Q2 24 | $8.6M | $82.3M | ||
| Q1 24 | $-26.0M | $87.6M |
| 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 | — | 2.81× | ||
| Q3 25 | — | 1.28× | ||
| Q2 25 | — | 0.95× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | — | 6.81× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | — | 1.37× | ||
| Q1 24 | — | 1.50× |
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% |
FIBK
Segment breakdown not available.
