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Side-by-side financial comparison of CoreWeave, Inc. (CRWV) and NCR Atleos Corp (NATL). Click either name above to swap in a different company.
CoreWeave, Inc. is the larger business by last-quarter revenue ($1.6B vs $1.2B, roughly 1.4× NCR Atleos Corp). NCR Atleos Corp runs the higher net margin — 7.2% vs -28.7%, a 35.9% gap on every dollar of revenue. NCR Atleos Corp produced more free cash flow last quarter ($194.0M vs $-2.5B).
CoreWeave, Inc. is an American artificial intelligence (AI) cloud-computing company based in Livingston, New Jersey. It specializes in providing cloud-based graphics processing unit (GPU) infrastructure to AI developers and enterprises, and also develops its own chip management software.
NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and electronic products. It manufactured self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, and barcode scanners.
CRWV vs NATL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.2B |
| Net Profit | $-451.7M | $83.0M |
| Gross Margin | 67.6% | — |
| Operating Margin | -5.7% | 13.5% |
| Net Margin | -28.7% | 7.2% |
| Revenue YoY | — | 4.0% |
| Net Profit YoY | — | 102.4% |
| EPS (diluted) | $-0.50 | $1.09 |
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 | $1.6B | $1.2B | ||
| Q3 25 | $1.4B | $1.1B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $981.6M | $979.0M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $583.9M | $1.1B | ||
| Q2 24 | $395.4M | $1.1B | ||
| Q1 24 | — | $1.0B |
| Q4 25 | $-451.7M | $83.0M | ||
| Q3 25 | $-110.1M | $26.0M | ||
| Q2 25 | $-290.5M | $39.0M | ||
| Q1 25 | $-314.6M | $14.0M | ||
| Q4 24 | — | $41.0M | ||
| Q3 24 | $-359.8M | $21.0M | ||
| Q2 24 | $-323.0M | $27.0M | ||
| Q1 24 | — | $-9.0M |
| Q4 25 | 67.6% | — | ||
| Q3 25 | 73.0% | — | ||
| Q2 25 | 74.2% | — | ||
| Q1 25 | 73.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 75.5% | — | ||
| Q2 24 | 72.5% | — | ||
| Q1 24 | — | — |
| Q4 25 | -5.7% | 13.5% | ||
| Q3 25 | 3.8% | 9.8% | ||
| Q2 25 | 1.6% | 10.8% | ||
| Q1 25 | -2.8% | 9.5% | ||
| Q4 24 | — | 13.4% | ||
| Q3 24 | 20.1% | 10.6% | ||
| Q2 24 | 19.7% | 9.8% | ||
| Q1 24 | — | 6.5% |
| Q4 25 | -28.7% | 7.2% | ||
| Q3 25 | -8.1% | 2.3% | ||
| Q2 25 | -24.0% | 3.5% | ||
| Q1 25 | -32.1% | 1.4% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | -61.6% | 2.0% | ||
| Q2 24 | -81.7% | 2.5% | ||
| Q1 24 | — | -0.9% |
| Q4 25 | $-0.50 | $1.09 | ||
| Q3 25 | $-0.22 | $0.34 | ||
| Q2 25 | $-0.60 | $0.52 | ||
| Q1 25 | $-1.49 | $0.19 | ||
| Q4 24 | — | $0.56 | ||
| Q3 24 | $-1.82 | $0.28 | ||
| Q2 24 | $-1.62 | $0.37 | ||
| Q1 24 | — | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.2B | $456.0M |
| Total DebtLower is stronger | $21.4B | $2.7B |
| Stockholders' EquityBook value | $3.3B | $403.0M |
| Total Assets | $49.3B | $5.7B |
| Debt / EquityLower = less leverage | 6.41× | 6.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.2B | $456.0M | ||
| Q3 25 | $1.9B | $412.0M | ||
| Q2 25 | $1.2B | $357.0M | ||
| Q1 25 | $1.3B | $352.0M | ||
| Q4 24 | — | $419.0M | ||
| Q3 24 | $1.4B | $395.0M | ||
| Q2 24 | $1.0B | $374.0M | ||
| Q1 24 | — | $343.0M |
| Q4 25 | $21.4B | $2.7B | ||
| Q3 25 | $14.0B | $2.8B | ||
| Q2 25 | $11.1B | $2.8B | ||
| Q1 25 | $8.7B | — | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.3B | $403.0M | ||
| Q3 25 | $3.9B | $330.0M | ||
| Q2 25 | $2.7B | $350.0M | ||
| Q1 25 | $1.9B | $275.0M | ||
| Q4 24 | — | $219.0M | ||
| Q3 24 | $-344.0M | $264.0M | ||
| Q2 24 | $-1.0B | $250.0M | ||
| Q1 24 | — | $283.0M |
| Q4 25 | $49.3B | $5.7B | ||
| Q3 25 | $32.9B | $5.7B | ||
| Q2 25 | $26.2B | $5.8B | ||
| Q1 25 | $21.9B | $5.7B | ||
| Q4 24 | — | $5.5B | ||
| Q3 24 | — | $5.7B | ||
| Q2 24 | — | $5.8B | ||
| Q1 24 | — | $5.8B |
| Q4 25 | 6.41× | 6.63× | ||
| Q3 25 | 3.62× | 8.45× | ||
| Q2 25 | 4.16× | 8.05× | ||
| Q1 25 | 4.57× | — | ||
| Q4 24 | — | 13.05× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $1.6B | $231.0M |
| Free Cash FlowOCF − Capex | $-2.5B | $194.0M |
| FCF MarginFCF / Revenue | -159.1% | 16.8% |
| Capex IntensityCapex / Revenue | 258.3% | 3.2% |
| Cash ConversionOCF / Net Profit | — | 2.78× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.3B | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | $231.0M | ||
| Q3 25 | $1.7B | $25.0M | ||
| Q2 25 | $-251.3M | $-23.0M | ||
| Q1 25 | $61.2M | $123.0M | ||
| Q4 24 | — | $80.0M | ||
| Q3 24 | — | $107.0M | ||
| Q2 24 | — | $9.0M | ||
| Q1 24 | — | $148.0M |
| Q4 25 | $-2.5B | $194.0M | ||
| Q3 25 | $-699.8M | $-5.0M | ||
| Q2 25 | $-2.7B | $-44.0M | ||
| Q1 25 | $-1.3B | $94.0M | ||
| Q4 24 | — | $62.0M | ||
| Q3 24 | — | $85.0M | ||
| Q2 24 | — | $-14.0M | ||
| Q1 24 | — | $124.0M |
| Q4 25 | -159.1% | 16.8% | ||
| Q3 25 | -51.3% | -0.4% | ||
| Q2 25 | -223.0% | -4.0% | ||
| Q1 25 | -137.1% | 9.6% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | — | 7.9% | ||
| Q2 24 | — | -1.3% | ||
| Q1 24 | — | 11.9% |
| Q4 25 | 258.3% | 3.2% | ||
| Q3 25 | 175.1% | 2.7% | ||
| Q2 25 | 202.3% | 1.9% | ||
| Q1 25 | 143.4% | 3.0% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 2.1% | ||
| Q2 24 | — | 2.1% | ||
| Q1 24 | — | 2.3% |
| Q4 25 | — | 2.78× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | -0.59× | ||
| Q1 25 | — | 8.79× | ||
| Q4 24 | — | 1.95× | ||
| Q3 24 | — | 5.10× | ||
| Q2 24 | — | 0.33× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRWV
| US | $1.4B | 92% |
| Non Us | $129.3M | 8% |
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
