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Side-by-side financial comparison of Confluent, Inc. (CFLT) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
WATTS WATER TECHNOLOGIES INC is the larger business by last-quarter revenue ($677.3M vs $314.8M, roughly 2.2× Confluent, Inc.). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 14.7% vs -25.2%, a 39.9% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (21.4% vs 20.5%). Confluent, Inc. produced more free cash flow last quarter ($41.7M vs $6.6M). Over the past eight quarters, Confluent, Inc.'s revenue compounded faster (20.4% CAGR vs 6.5%).
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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
CFLT vs WTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $314.8M | $677.3M |
| Net Profit | $-79.2M | $99.6M |
| Gross Margin | 74.7% | 48.1% |
| Operating Margin | -31.5% | 19.6% |
| Net Margin | -25.2% | 14.7% |
| Revenue YoY | 20.5% | 21.4% |
| Net Profit YoY | 10.0% | 34.6% |
| EPS (diluted) | $-0.23 | $2.97 |
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 | — | $677.3M | ||
| Q4 25 | $314.8M | $625.1M | ||
| Q3 25 | $298.5M | $611.7M | ||
| Q2 25 | $282.3M | $643.7M | ||
| Q1 25 | $271.1M | $558.0M | ||
| Q4 24 | $261.2M | $540.4M | ||
| Q3 24 | $250.2M | $543.6M | ||
| Q2 24 | $235.0M | $597.3M |
| Q1 26 | — | $99.6M | ||
| Q4 25 | $-79.2M | $83.7M | ||
| Q3 25 | $-66.5M | $82.2M | ||
| Q2 25 | $-82.0M | $100.9M | ||
| Q1 25 | $-67.6M | $74.0M | ||
| Q4 24 | $-88.1M | $67.5M | ||
| Q3 24 | $-74.1M | $69.1M | ||
| Q2 24 | $-89.9M | $82.0M |
| Q1 26 | — | 48.1% | ||
| Q4 25 | 74.7% | 49.5% | ||
| Q3 25 | 74.2% | 48.8% | ||
| Q2 25 | 73.7% | 50.6% | ||
| Q1 25 | 74.5% | 48.8% | ||
| Q4 24 | 74.1% | 46.7% | ||
| Q3 24 | 74.5% | 47.3% | ||
| Q2 24 | 72.3% | 47.7% |
| Q1 26 | — | 19.6% | ||
| Q4 25 | -31.5% | 18.2% | ||
| Q3 25 | -27.9% | 18.2% | ||
| Q2 25 | -34.2% | 21.0% | ||
| Q1 25 | -37.3% | 15.7% | ||
| Q4 24 | -40.5% | 16.5% | ||
| Q3 24 | -37.4% | 17.1% | ||
| Q2 24 | -46.1% | 18.7% |
| Q1 26 | — | 14.7% | ||
| Q4 25 | -25.2% | 13.4% | ||
| Q3 25 | -22.3% | 13.4% | ||
| Q2 25 | -29.0% | 15.7% | ||
| Q1 25 | -24.9% | 13.3% | ||
| Q4 24 | -33.7% | 12.5% | ||
| Q3 24 | -29.6% | 12.7% | ||
| Q2 24 | -38.3% | 13.7% |
| Q1 26 | — | $2.97 | ||
| Q4 25 | $-0.23 | $2.50 | ||
| Q3 25 | $-0.19 | $2.45 | ||
| Q2 25 | $-0.24 | $3.01 | ||
| Q1 25 | $-0.20 | $2.21 | ||
| Q4 24 | $-0.26 | $2.02 | ||
| Q3 24 | $-0.23 | $2.06 | ||
| Q2 24 | $-0.28 | $2.44 |
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 | $374.7M |
| Total DebtLower is stronger | $1.1B | $197.8M |
| Stockholders' EquityBook value | $1.2B | $2.1B |
| Total Assets | $3.0B | $2.9B |
| Debt / EquityLower = less leverage | 0.94× | 0.09× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $374.7M | ||
| Q4 25 | $347.2M | $405.5M | ||
| Q3 25 | $298.5M | $457.7M | ||
| Q2 25 | $295.6M | $369.3M | ||
| Q1 25 | $278.6M | $336.8M | ||
| Q4 24 | $386.0M | $386.9M | ||
| Q3 24 | $322.6M | $303.9M | ||
| Q2 24 | $311.3M | $279.4M |
| Q1 26 | — | $197.8M | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — |
| Q1 26 | — | $2.1B | ||
| Q4 25 | $1.2B | $2.0B | ||
| Q3 25 | $1.1B | $2.0B | ||
| Q2 25 | $1.1B | $1.9B | ||
| Q1 25 | $1.0B | $1.8B | ||
| Q4 24 | $961.2M | $1.7B | ||
| Q3 24 | $934.3M | $1.7B | ||
| Q2 24 | $873.9M | $1.6B |
| Q1 26 | — | $2.9B | ||
| Q4 25 | $3.0B | $2.9B | ||
| Q3 25 | $2.9B | $2.7B | ||
| Q2 25 | $2.8B | $2.6B | ||
| Q1 25 | $2.7B | $2.5B | ||
| Q4 24 | $2.7B | $2.4B | ||
| Q3 24 | $2.6B | $2.4B | ||
| Q2 24 | $2.5B | $2.4B |
| Q1 26 | — | 0.09× | ||
| Q4 25 | 0.94× | — | ||
| Q3 25 | 0.98× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | 1.14× | — | ||
| Q3 24 | 1.17× | — | ||
| Q2 24 | 1.25× | — |
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 | $17.9M |
| Free Cash FlowOCF − Capex | $41.7M | $6.6M |
| FCF MarginFCF / Revenue | 13.2% | 1.0% |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | — | 0.18× |
| TTM Free Cash FlowTrailing 4 quarters | $60.7M | $317.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $17.9M | ||
| Q4 25 | $42.1M | $154.7M | ||
| Q3 25 | $30.8M | $122.4M | ||
| Q2 25 | $18.1M | $69.7M | ||
| Q1 25 | $-26.8M | $55.2M | ||
| Q4 24 | $35.2M | $139.5M | ||
| Q3 24 | $15.6M | $90.7M | ||
| Q2 24 | $8.6M | $85.3M |
| Q1 26 | — | $6.6M | ||
| Q4 25 | $41.7M | $140.3M | ||
| Q3 25 | $30.0M | $110.9M | ||
| Q2 25 | $17.2M | $59.5M | ||
| Q1 25 | $-28.2M | $45.6M | ||
| Q4 24 | $34.5M | $127.5M | ||
| Q3 24 | $15.0M | $84.3M | ||
| Q2 24 | $7.5M | $78.5M |
| Q1 26 | — | 1.0% | ||
| Q4 25 | 13.2% | 22.4% | ||
| Q3 25 | 10.0% | 18.1% | ||
| Q2 25 | 6.1% | 9.2% | ||
| Q1 25 | -10.4% | 8.2% | ||
| Q4 24 | 13.2% | 23.6% | ||
| Q3 24 | 6.0% | 15.5% | ||
| Q2 24 | 3.2% | 13.1% |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 2.3% | ||
| Q3 25 | 0.3% | 1.9% | ||
| Q2 25 | 0.3% | 1.6% | ||
| Q1 25 | 0.5% | 1.7% | ||
| Q4 24 | 0.3% | 2.2% | ||
| Q3 24 | 0.2% | 1.2% | ||
| Q2 24 | 0.5% | 1.1% |
| Q1 26 | — | 0.18× | ||
| Q4 25 | — | 1.85× | ||
| Q3 25 | — | 1.49× | ||
| Q2 25 | — | 0.69× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 2.07× | ||
| Q3 24 | — | 1.31× | ||
| Q2 24 | — | 1.04× |
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% |
WTS
| segment net | $517.8M | 76% |
| Other | $159.5M | 24% |
