vs
Side-by-side financial comparison of Confluent, Inc. (CFLT) and IDEX Corporation (IEX). Click either name above to swap in a different company.
IDEX Corporation is the larger business by last-quarter revenue ($398.4M vs $314.8M, roughly 1.3× Confluent, Inc.). IDEX Corporation runs the higher net margin — 30.1% vs -25.2%, a 55.3% gap on every dollar of revenue. On growth, Confluent, Inc. posted the faster year-over-year revenue change (20.5% vs 16.7%). IDEX Corporation produced more free cash flow last quarter ($86.0M vs $41.7M). Over the past eight quarters, Confluent, Inc.'s revenue compounded faster (20.4% CAGR vs -29.4%).
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.
IDEX can refer to several things, including:International Defence Exhibition, a biennial arms and defense technology sales exhibition IDEX Corporation, a publicly listed company that makes fluidics systems and specialty engineered products Ideanomics, a publicly traded company that trades under the IDEX ticker symbol.
CFLT vs IEX — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $314.8M | $398.4M |
| Net Profit | $-79.2M | $120.0M |
| Gross Margin | 74.7% | 99.9% |
| Operating Margin | -31.5% | 43.3% |
| Net Margin | -25.2% | 30.1% |
| Revenue YoY | 20.5% | 16.7% |
| Net Profit YoY | 10.0% | 25.7% |
| EPS (diluted) | $-0.23 | $1.61 |
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.
| Q2 26 | — | $398.4M | ||
| Q1 26 | — | $407.7M | ||
| Q4 25 | $314.8M | $899.1M | ||
| Q3 25 | $298.5M | $878.7M | ||
| Q2 25 | $282.3M | $865.4M | ||
| Q1 25 | $271.1M | $814.3M | ||
| Q4 24 | $261.2M | $862.9M | ||
| Q3 24 | $250.2M | $798.2M |
| Q2 26 | — | $120.0M | ||
| Q1 26 | — | $128.3M | ||
| Q4 25 | $-79.2M | $128.3M | ||
| Q3 25 | $-66.5M | $127.8M | ||
| Q2 25 | $-82.0M | $131.6M | ||
| Q1 25 | $-67.6M | $95.5M | ||
| Q4 24 | $-88.1M | $123.2M | ||
| Q3 24 | $-74.1M | $119.1M |
| Q2 26 | — | 99.9% | ||
| Q1 26 | — | 94.9% | ||
| Q4 25 | 74.7% | 43.1% | ||
| Q3 25 | 74.2% | 44.5% | ||
| Q2 25 | 73.7% | 45.3% | ||
| Q1 25 | 74.5% | 45.3% | ||
| Q4 24 | 74.1% | 42.5% | ||
| Q3 24 | 74.5% | 44.3% |
| Q2 26 | — | 43.3% | ||
| Q1 26 | — | 45.0% | ||
| Q4 25 | -31.5% | 20.4% | ||
| Q3 25 | -27.9% | 21.1% | ||
| Q2 25 | -34.2% | 21.7% | ||
| Q1 25 | -37.3% | 17.4% | ||
| Q4 24 | -40.5% | 19.2% | ||
| Q3 24 | -37.4% | 21.0% |
| Q2 26 | — | 30.1% | ||
| Q1 26 | — | 31.5% | ||
| Q4 25 | -25.2% | 14.3% | ||
| Q3 25 | -22.3% | 14.5% | ||
| Q2 25 | -29.0% | 15.2% | ||
| Q1 25 | -24.9% | 11.7% | ||
| Q4 24 | -33.7% | 14.3% | ||
| Q3 24 | -29.6% | 14.9% |
| Q2 26 | — | $1.61 | ||
| Q1 26 | — | $1.71 | ||
| Q4 25 | $-0.23 | $1.71 | ||
| Q3 25 | $-0.19 | $1.70 | ||
| Q2 25 | $-0.24 | $1.74 | ||
| Q1 25 | $-0.20 | $1.26 | ||
| Q4 24 | $-0.26 | $1.61 | ||
| Q3 24 | $-0.23 | $1.57 |
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 | $586.2M |
| Total DebtLower is stronger | $1.1B | — |
| Stockholders' EquityBook value | $1.2B | $4.0B |
| Total Assets | $3.0B | $6.9B |
| Debt / EquityLower = less leverage | 0.94× | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | $586.2M | ||
| Q1 26 | — | $580.0M | ||
| Q4 25 | $347.2M | $580.0M | ||
| Q3 25 | $298.5M | $593.8M | ||
| Q2 25 | $295.6M | $568.2M | ||
| Q1 25 | $278.6M | $594.1M | ||
| Q4 24 | $386.0M | $620.8M | ||
| Q3 24 | $322.6M | $633.2M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $1.8B | ||
| Q3 25 | $1.1B | $1.9B | ||
| Q2 25 | $1.1B | $1.9B | ||
| Q1 25 | $1.1B | $2.0B | ||
| Q4 24 | $1.1B | $2.0B | ||
| Q3 24 | $1.1B | $2.1B |
| Q2 26 | — | $4.0B | ||
| Q1 26 | — | $4.0B | ||
| Q4 25 | $1.2B | $4.0B | ||
| Q3 25 | $1.1B | $4.0B | ||
| Q2 25 | $1.1B | $4.0B | ||
| Q1 25 | $1.0B | $3.9B | ||
| Q4 24 | $961.2M | $3.8B | ||
| Q3 24 | $934.3M | $3.8B |
| Q2 26 | — | $6.9B | ||
| Q1 26 | — | $6.9B | ||
| Q4 25 | $3.0B | $6.9B | ||
| Q3 25 | $2.9B | $7.0B | ||
| Q2 25 | $2.8B | $6.9B | ||
| Q1 25 | $2.7B | $6.8B | ||
| Q4 24 | $2.7B | $6.7B | ||
| Q3 24 | $2.6B | $7.0B |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 0.94× | 0.45× | ||
| Q3 25 | 0.98× | 0.48× | ||
| Q2 25 | 1.03× | 0.46× | ||
| Q1 25 | 1.07× | 0.50× | ||
| Q4 24 | 1.14× | 0.52× | ||
| Q3 24 | 1.17× | 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 | $42.1M | — |
| Free Cash FlowOCF − Capex | $41.7M | $86.0M |
| FCF MarginFCF / Revenue | 13.2% | 21.6% |
| Capex IntensityCapex / Revenue | 0.1% | 4.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $60.7M | $654.3M |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $42.1M | $209.5M | ||
| Q3 25 | $30.8M | $203.5M | ||
| Q2 25 | $18.1M | $161.7M | ||
| Q1 25 | $-26.8M | $105.7M | ||
| Q4 24 | $35.2M | $172.6M | ||
| Q3 24 | $15.6M | $205.3M |
| Q2 26 | — | $86.0M | ||
| Q1 26 | — | $189.8M | ||
| Q4 25 | $41.7M | $189.8M | ||
| Q3 25 | $30.0M | $188.7M | ||
| Q2 25 | $17.2M | $146.9M | ||
| Q1 25 | $-28.2M | $91.4M | ||
| Q4 24 | $34.5M | $157.1M | ||
| Q3 24 | $15.0M | $191.6M |
| Q2 26 | — | 21.6% | ||
| Q1 26 | — | 46.6% | ||
| Q4 25 | 13.2% | 21.1% | ||
| Q3 25 | 10.0% | 21.5% | ||
| Q2 25 | 6.1% | 17.0% | ||
| Q1 25 | -10.4% | 11.2% | ||
| Q4 24 | 13.2% | 18.2% | ||
| Q3 24 | 6.0% | 24.0% |
| Q2 26 | — | 4.4% | ||
| Q1 26 | — | 15.6% | ||
| Q4 25 | 0.1% | 2.2% | ||
| Q3 25 | 0.3% | 1.7% | ||
| Q2 25 | 0.3% | 1.7% | ||
| Q1 25 | 0.5% | 1.8% | ||
| Q4 24 | 0.3% | 1.8% | ||
| Q3 24 | 0.2% | 1.7% |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | 1.63× | ||
| Q3 25 | — | 1.59× | ||
| Q2 25 | — | 1.23× | ||
| Q1 25 | — | 1.11× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 1.72× |
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% |
IEX
Segment breakdown not available.
