vs
Side-by-side financial comparison of Elanco Animal Health Inc (ELAN) and Cloudflare, Inc. (NET). Click either name above to swap in a different company.
Elanco Animal Health Inc is the larger business by last-quarter revenue ($1.1B vs $614.5M, roughly 1.9× Cloudflare, Inc.). Cloudflare, Inc. runs the higher net margin — -2.0% vs -24.1%, a 22.2% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 12.2%). Cloudflare, Inc. produced more free cash flow last quarter ($105.2M vs $46.0M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs -2.6%).
Elanco Animal Health Incorporated is an American pharmaceutical company which produces medicines and vaccinations for pets and livestock. Until 2019, the company was a subsidiary of Eli Lilly and Company, before being divested. It is the third-largest animal health company in the world.
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.
ELAN vs NET — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $614.5M |
| Net Profit | $-276.0M | $-12.1M |
| Gross Margin | 51.5% | 73.6% |
| Operating Margin | -22.6% | -8.0% |
| Net Margin | -24.1% | -2.0% |
| Revenue YoY | 12.2% | 33.6% |
| Net Profit YoY | -3350.0% | 6.0% |
| EPS (diluted) | $-0.55 | $-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 | $1.1B | $614.5M | ||
| Q3 25 | $1.1B | $562.0M | ||
| Q2 25 | $1.2B | $512.3M | ||
| Q1 25 | $1.2B | $479.1M | ||
| Q4 24 | $1.0B | $459.9M | ||
| Q3 24 | $1.0B | $430.1M | ||
| Q2 24 | $1.2B | $401.0M | ||
| Q1 24 | $1.2B | $378.6M |
| Q4 25 | $-276.0M | $-12.1M | ||
| Q3 25 | $-34.0M | $-1.3M | ||
| Q2 25 | $11.0M | $-50.4M | ||
| Q1 25 | $67.0M | $-38.5M | ||
| Q4 24 | $-8.0M | $-12.8M | ||
| Q3 24 | $364.0M | $-15.3M | ||
| Q2 24 | $-50.0M | $-15.1M | ||
| Q1 24 | $32.0M | $-35.5M |
| Q4 25 | 51.5% | 73.6% | ||
| Q3 25 | 53.4% | 74.0% | ||
| Q2 25 | 57.5% | 74.9% | ||
| Q1 25 | 57.3% | 75.9% | ||
| Q4 24 | 50.9% | 76.4% | ||
| Q3 24 | 52.2% | 77.7% | ||
| Q2 24 | 58.2% | 77.8% | ||
| Q1 24 | 57.3% | 77.5% |
| Q4 25 | -22.6% | -8.0% | ||
| Q3 25 | -4.4% | -6.7% | ||
| Q2 25 | 2.0% | -13.1% | ||
| Q1 25 | 5.0% | -11.1% | ||
| Q4 24 | -5.0% | -7.5% | ||
| Q3 24 | 54.3% | -7.2% | ||
| Q2 24 | -2.7% | -8.7% | ||
| Q1 24 | 1.0% | -14.4% |
| Q4 25 | -24.1% | -2.0% | ||
| Q3 25 | -3.0% | -0.2% | ||
| Q2 25 | 0.9% | -9.8% | ||
| Q1 25 | 5.6% | -8.0% | ||
| Q4 24 | -0.8% | -2.8% | ||
| Q3 24 | 35.3% | -3.6% | ||
| Q2 24 | -4.2% | -3.8% | ||
| Q1 24 | 2.7% | -9.4% |
| Q4 25 | $-0.55 | $-0.03 | ||
| Q3 25 | $-0.07 | $0.00 | ||
| Q2 25 | $0.02 | $-0.15 | ||
| Q1 25 | $0.13 | $-0.11 | ||
| Q4 24 | $-0.01 | $-0.05 | ||
| Q3 24 | $0.73 | $-0.04 | ||
| Q2 24 | $-0.10 | $-0.04 | ||
| Q1 24 | $0.06 | $-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 | $545.0M | $943.5M |
| Total DebtLower is stronger | $3.9B | — |
| Stockholders' EquityBook value | $6.5B | $1.5B |
| Total Assets | $13.4B | $6.0B |
| Debt / EquityLower = less leverage | 0.60× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $545.0M | $943.5M | ||
| Q3 25 | $505.0M | $1.1B | ||
| Q2 25 | $539.0M | $1.5B | ||
| Q1 25 | $487.0M | $204.5M | ||
| Q4 24 | $468.0M | $147.7M | ||
| Q3 24 | $490.0M | $182.9M | ||
| Q2 24 | $416.0M | $157.0M | ||
| Q1 24 | $345.0M | $254.4M |
| Q4 25 | $3.9B | — | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $4.1B | — | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.4B | — | ||
| Q2 24 | $5.7B | — | ||
| Q1 24 | $5.8B | — |
| Q4 25 | $6.5B | $1.5B | ||
| Q3 25 | $6.7B | $1.3B | ||
| Q2 25 | $6.8B | $1.2B | ||
| Q1 25 | $6.4B | $1.4B | ||
| Q4 24 | $6.1B | $1.0B | ||
| Q3 24 | $6.5B | $973.1M | ||
| Q2 24 | $5.9B | $881.5M | ||
| Q1 24 | $6.1B | $797.2M |
| Q4 25 | $13.4B | $6.0B | ||
| Q3 25 | $13.6B | $5.8B | ||
| Q2 25 | $13.7B | $5.6B | ||
| Q1 25 | $12.9B | $3.7B | ||
| Q4 24 | $12.6B | $3.3B | ||
| Q3 24 | $13.3B | $3.1B | ||
| Q2 24 | $13.8B | $2.9B | ||
| Q1 24 | $14.0B | $2.8B |
| Q4 25 | 0.60× | — | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 0.61× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.96× | — | ||
| Q1 24 | 0.95× | — |
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 | $108.0M | $190.4M |
| Free Cash FlowOCF − Capex | $46.0M | $105.2M |
| FCF MarginFCF / Revenue | 4.0% | 17.1% |
| Capex IntensityCapex / Revenue | 5.4% | 13.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $284.0M | $287.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.0M | $190.4M | ||
| Q3 25 | $219.0M | $167.1M | ||
| Q2 25 | $237.0M | $99.8M | ||
| Q1 25 | $-4.0M | $145.8M | ||
| Q4 24 | $177.0M | $127.3M | ||
| Q3 24 | $162.0M | $104.7M | ||
| Q2 24 | $200.0M | $74.8M | ||
| Q1 24 | $2.0M | $73.6M |
| Q4 25 | $46.0M | $105.2M | ||
| Q3 25 | $127.0M | $82.5M | ||
| Q2 25 | $180.0M | $39.9M | ||
| Q1 25 | $-69.0M | $59.9M | ||
| Q4 24 | $130.0M | $54.2M | ||
| Q3 24 | $120.0M | $54.5M | ||
| Q2 24 | $166.0M | $45.2M | ||
| Q1 24 | $-22.0M | $41.5M |
| Q4 25 | 4.0% | 17.1% | ||
| Q3 25 | 11.2% | 14.7% | ||
| Q2 25 | 14.5% | 7.8% | ||
| Q1 25 | -5.8% | 12.5% | ||
| Q4 24 | 12.7% | 11.8% | ||
| Q3 24 | 11.7% | 12.7% | ||
| Q2 24 | 14.0% | 11.3% | ||
| Q1 24 | -1.8% | 11.0% |
| Q4 25 | 5.4% | 13.9% | ||
| Q3 25 | 8.1% | 15.1% | ||
| Q2 25 | 4.6% | 11.7% | ||
| Q1 25 | 5.4% | 17.9% | ||
| Q4 24 | 4.6% | 15.9% | ||
| Q3 24 | 4.1% | 11.7% | ||
| Q2 24 | 2.9% | 7.4% | ||
| Q1 24 | 2.0% | 8.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 21.55× | — | ||
| Q1 25 | -0.06× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.45× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.06× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ELAN
| Pet Health | $489.0M | 43% |
| Cattle | $296.0M | 26% |
| Poultry | $237.0M | 21% |
| Swine | $107.0M | 9% |
| Contract Manufacturing | $15.0M | 1% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
