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Side-by-side financial comparison of Distribution Solutions Group, Inc. (DSGR) and Cloudflare, Inc. (NET). Click either name above to swap in a different company.
Cloudflare, Inc. is the larger business by last-quarter revenue ($614.5M vs $518.0M, roughly 1.2× Distribution Solutions Group, Inc.). Distribution Solutions Group, Inc. runs the higher net margin — 1.2% vs -2.0%, a 3.2% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 10.7%). Cloudflare, Inc. produced more free cash flow last quarter ($105.2M vs $32.9M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 13.1%).
Univar Solutions Inc. is a global chemical and ingredients distributor and provider of value-added services.
Cloudflare, Inc. is an American technology company headquartered in San Francisco, California, that provides a range of internet services, including content delivery network (CDN) services, cloud cybersecurity, DDoS mitigation, and ICANN-accredited domain registration. The company's services act primarily as a reverse proxy between website visitors and a customer's hosting provider, improving performance and protecting against malicious traffic.
DSGR vs NET — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $518.0M | $614.5M |
| Net Profit | $6.5M | $-12.1M |
| Gross Margin | 32.9% | 73.6% |
| Operating Margin | 4.6% | -8.0% |
| Net Margin | 1.2% | -2.0% |
| Revenue YoY | 10.7% | 33.6% |
| Net Profit YoY | -70.6% | 6.0% |
| EPS (diluted) | $0.14 | $-0.03 |
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 | — | $614.5M | ||
| Q3 25 | $518.0M | $562.0M | ||
| Q2 25 | $502.4M | $512.3M | ||
| Q1 25 | $478.0M | $479.1M | ||
| Q4 24 | $480.5M | $459.9M | ||
| Q3 24 | $468.0M | $430.1M | ||
| Q2 24 | $439.5M | $401.0M | ||
| Q1 24 | $416.1M | $378.6M |
| Q4 25 | — | $-12.1M | ||
| Q3 25 | $6.5M | $-1.3M | ||
| Q2 25 | $5.0M | $-50.4M | ||
| Q1 25 | $3.3M | $-38.5M | ||
| Q4 24 | $-25.9M | $-12.8M | ||
| Q3 24 | $21.9M | $-15.3M | ||
| Q2 24 | $1.9M | $-15.1M | ||
| Q1 24 | $-5.2M | $-35.5M |
| Q4 25 | — | 73.6% | ||
| Q3 25 | 32.9% | 74.0% | ||
| Q2 25 | 33.9% | 74.9% | ||
| Q1 25 | 34.3% | 75.9% | ||
| Q4 24 | 33.3% | 76.4% | ||
| Q3 24 | 33.9% | 77.7% | ||
| Q2 24 | 34.5% | 77.8% | ||
| Q1 24 | 34.5% | 77.5% |
| Q4 25 | — | -8.0% | ||
| Q3 25 | 4.6% | -6.7% | ||
| Q2 25 | 5.3% | -13.1% | ||
| Q1 25 | 4.2% | -11.1% | ||
| Q4 24 | 4.2% | -7.5% | ||
| Q3 24 | 4.0% | -7.2% | ||
| Q2 24 | 3.2% | -8.7% | ||
| Q1 24 | 0.7% | -14.4% |
| Q4 25 | — | -2.0% | ||
| Q3 25 | 1.2% | -0.2% | ||
| Q2 25 | 1.0% | -9.8% | ||
| Q1 25 | 0.7% | -8.0% | ||
| Q4 24 | -5.4% | -2.8% | ||
| Q3 24 | 4.7% | -3.6% | ||
| Q2 24 | 0.4% | -3.8% | ||
| Q1 24 | -1.3% | -9.4% |
| Q4 25 | — | $-0.03 | ||
| Q3 25 | $0.14 | $0.00 | ||
| Q2 25 | $0.11 | $-0.15 | ||
| Q1 25 | $0.07 | $-0.11 | ||
| Q4 24 | $-0.55 | $-0.05 | ||
| Q3 24 | $0.46 | $-0.04 | ||
| Q2 24 | $0.04 | $-0.04 | ||
| Q1 24 | $-0.11 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $69.2M | $943.5M |
| Total DebtLower is stronger | $665.5M | — |
| Stockholders' EquityBook value | $653.9M | $1.5B |
| Total Assets | $1.8B | $6.0B |
| Debt / EquityLower = less leverage | 1.02× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $943.5M | ||
| Q3 25 | $69.2M | $1.1B | ||
| Q2 25 | $47.4M | $1.5B | ||
| Q1 25 | $65.4M | $204.5M | ||
| Q4 24 | $66.5M | $147.7M | ||
| Q3 24 | $61.3M | $182.9M | ||
| Q2 24 | $46.8M | $157.0M | ||
| Q1 24 | $73.1M | $254.4M |
| Q4 25 | — | — | ||
| Q3 25 | $665.5M | — | ||
| Q2 25 | $675.0M | — | ||
| Q1 25 | $712.4M | — | ||
| Q4 24 | $693.9M | — | ||
| Q3 24 | $704.1M | — | ||
| Q2 24 | $573.7M | — | ||
| Q1 24 | $535.7M | — |
| Q4 25 | — | $1.5B | ||
| Q3 25 | $653.9M | $1.3B | ||
| Q2 25 | $649.4M | $1.2B | ||
| Q1 25 | $636.7M | $1.4B | ||
| Q4 24 | $640.5M | $1.0B | ||
| Q3 24 | $680.8M | $973.1M | ||
| Q2 24 | $653.3M | $881.5M | ||
| Q1 24 | $654.7M | $797.2M |
| Q4 25 | — | $6.0B | ||
| Q3 25 | $1.8B | $5.8B | ||
| Q2 25 | $1.8B | $5.6B | ||
| Q1 25 | $1.8B | $3.7B | ||
| Q4 24 | $1.7B | $3.3B | ||
| Q3 24 | $1.8B | $3.1B | ||
| Q2 24 | $1.6B | $2.9B | ||
| Q1 24 | $1.5B | $2.8B |
| Q4 25 | — | — | ||
| Q3 25 | 1.02× | — | ||
| Q2 25 | 1.04× | — | ||
| Q1 25 | 1.12× | — | ||
| Q4 24 | 1.08× | — | ||
| Q3 24 | 1.03× | — | ||
| Q2 24 | 0.88× | — | ||
| Q1 24 | 0.82× | — |
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 | $38.4M | $190.4M |
| Free Cash FlowOCF − Capex | $32.9M | $105.2M |
| FCF MarginFCF / Revenue | 6.3% | 17.1% |
| Capex IntensityCapex / Revenue | 1.1% | 13.9% |
| Cash ConversionOCF / Net Profit | 5.95× | — |
| TTM Free Cash FlowTrailing 4 quarters | $92.2M | $287.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $190.4M | ||
| Q3 25 | $38.4M | $167.1M | ||
| Q2 25 | $33.3M | $99.8M | ||
| Q1 25 | $-4.8M | $145.8M | ||
| Q4 24 | $45.7M | $127.3M | ||
| Q3 24 | $-17.3M | $104.7M | ||
| Q2 24 | $21.4M | $74.8M | ||
| Q1 24 | $6.6M | $73.6M |
| Q4 25 | — | $105.2M | ||
| Q3 25 | $32.9M | $82.5M | ||
| Q2 25 | $28.7M | $39.9M | ||
| Q1 25 | $-10.4M | $59.9M | ||
| Q4 24 | $41.1M | $54.2M | ||
| Q3 24 | $-20.5M | $54.5M | ||
| Q2 24 | $18.0M | $45.2M | ||
| Q1 24 | $4.2M | $41.5M |
| Q4 25 | — | 17.1% | ||
| Q3 25 | 6.3% | 14.7% | ||
| Q2 25 | 5.7% | 7.8% | ||
| Q1 25 | -2.2% | 12.5% | ||
| Q4 24 | 8.6% | 11.8% | ||
| Q3 24 | -4.4% | 12.7% | ||
| Q2 24 | 4.1% | 11.3% | ||
| Q1 24 | 1.0% | 11.0% |
| Q4 25 | — | 13.9% | ||
| Q3 25 | 1.1% | 15.1% | ||
| Q2 25 | 0.9% | 11.7% | ||
| Q1 25 | 1.2% | 17.9% | ||
| Q4 24 | 1.0% | 15.9% | ||
| Q3 24 | 0.7% | 11.7% | ||
| Q2 24 | 0.8% | 7.4% | ||
| Q1 24 | 0.6% | 8.5% |
| Q4 25 | — | — | ||
| Q3 25 | 5.95× | — | ||
| Q2 25 | 6.66× | — | ||
| Q1 25 | -1.46× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.79× | — | ||
| Q2 24 | 11.28× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DSGR
| Test Equity Segment | $206.5M | 40% |
| Gexpro Services Segment | $130.5M | 25% |
| Lawson Segment | $121.5M | 23% |
| Canada Branch Division Segment | $60.0M | 12% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
