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Side-by-side financial comparison of ENERGIZER HOLDINGS, INC. (ENR) and Cloudflare, Inc. (NET). Click either name above to swap in a different company.
ENERGIZER HOLDINGS, INC. is the larger business by last-quarter revenue ($778.9M vs $614.5M, roughly 1.3× Cloudflare, Inc.). ENERGIZER HOLDINGS, INC. runs the higher net margin — -0.4% vs -2.0%, a 1.5% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 6.5%). ENERGIZER HOLDINGS, INC. produced more free cash flow last quarter ($124.2M vs $105.2M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 8.4%).
Energizer Holdings, Inc. is an American manufacturer and one of the world's largest manufacturers of batteries, headquartered in Clayton, Missouri. It produces batteries under the Energizer, Ray-O-Vac, Varta, and Eveready brand names and formerly owned several personal care businesses until it separated that side of the business into a new company called Edgewell Personal Care in 2015.
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.
ENR vs NET — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $778.9M | $614.5M |
| Net Profit | $-3.4M | $-12.1M |
| Gross Margin | 32.9% | 73.6% |
| Operating Margin | -0.6% | -8.0% |
| Net Margin | -0.4% | -2.0% |
| Revenue YoY | 6.5% | 33.6% |
| Net Profit YoY | -115.2% | 6.0% |
| EPS (diluted) | — | $-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 | $778.9M | $614.5M | ||
| Q3 25 | $832.8M | $562.0M | ||
| Q2 25 | $725.3M | $512.3M | ||
| Q1 25 | $662.9M | $479.1M | ||
| Q4 24 | $731.7M | $459.9M | ||
| Q3 24 | $805.7M | $430.1M | ||
| Q2 24 | $701.4M | $401.0M | ||
| Q1 24 | $663.3M | $378.6M |
| Q4 25 | $-3.4M | $-12.1M | ||
| Q3 25 | $34.9M | $-1.3M | ||
| Q2 25 | $153.5M | $-50.4M | ||
| Q1 25 | $28.3M | $-38.5M | ||
| Q4 24 | $22.3M | $-12.8M | ||
| Q3 24 | $47.6M | $-15.3M | ||
| Q2 24 | $-43.8M | $-15.1M | ||
| Q1 24 | $32.4M | $-35.5M |
| Q4 25 | 32.9% | 73.6% | ||
| Q3 25 | 36.6% | 74.0% | ||
| Q2 25 | 55.1% | 74.9% | ||
| Q1 25 | 39.1% | 75.9% | ||
| Q4 24 | 36.8% | 76.4% | ||
| Q3 24 | 38.1% | 77.7% | ||
| Q2 24 | 39.5% | 77.8% | ||
| Q1 24 | 38.2% | 77.5% |
| Q4 25 | -0.6% | -8.0% | ||
| Q3 25 | 6.4% | -6.7% | ||
| Q2 25 | 22.6% | -13.1% | ||
| Q1 25 | 5.5% | -11.1% | ||
| Q4 24 | 4.1% | -7.5% | ||
| Q3 24 | 7.4% | -7.2% | ||
| Q2 24 | -8.2% | -8.7% | ||
| Q1 24 | 6.4% | -14.4% |
| Q4 25 | -0.4% | -2.0% | ||
| Q3 25 | 4.2% | -0.2% | ||
| Q2 25 | 21.2% | -9.8% | ||
| Q1 25 | 4.3% | -8.0% | ||
| Q4 24 | 3.0% | -2.8% | ||
| Q3 24 | 5.9% | -3.6% | ||
| Q2 24 | -6.2% | -3.8% | ||
| Q1 24 | 4.9% | -9.4% |
| Q4 25 | — | $-0.03 | ||
| Q3 25 | — | $0.00 | ||
| Q2 25 | — | $-0.15 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | — | $-0.05 | ||
| Q3 24 | — | $-0.04 | ||
| Q2 24 | — | $-0.04 | ||
| Q1 24 | — | $-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 | $214.8M | $943.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $141.3M | $1.5B |
| Total Assets | $4.4B | $6.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $214.8M | $943.5M | ||
| Q3 25 | $236.2M | $1.1B | ||
| Q2 25 | $171.1M | $1.5B | ||
| Q1 25 | $139.3M | $204.5M | ||
| Q4 24 | $195.9M | $147.7M | ||
| Q3 24 | $216.9M | $182.9M | ||
| Q2 24 | $146.7M | $157.0M | ||
| Q1 24 | $158.1M | $254.4M |
| Q4 25 | — | — | ||
| Q3 25 | $3.4B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.2B | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.2B | — | ||
| Q1 24 | $3.2B | — |
| Q4 25 | $141.3M | $1.5B | ||
| Q3 25 | $169.9M | $1.3B | ||
| Q2 25 | $183.2M | $1.2B | ||
| Q1 25 | $133.9M | $1.4B | ||
| Q4 24 | $140.6M | $1.0B | ||
| Q3 24 | $135.8M | $973.1M | ||
| Q2 24 | $123.4M | $881.5M | ||
| Q1 24 | $191.3M | $797.2M |
| Q4 25 | $4.4B | $6.0B | ||
| Q3 25 | $4.6B | $5.8B | ||
| Q2 25 | $4.5B | $5.6B | ||
| Q1 25 | $4.2B | $3.7B | ||
| Q4 24 | $4.2B | $3.3B | ||
| Q3 24 | $4.3B | $3.1B | ||
| Q2 24 | $4.2B | $2.9B | ||
| Q1 24 | $4.3B | $2.8B |
| Q4 25 | — | — | ||
| Q3 25 | 20.28× | — | ||
| Q2 25 | 17.57× | — | ||
| Q1 25 | 23.56× | — | ||
| Q4 24 | 22.17× | — | ||
| Q3 24 | 23.51× | — | ||
| Q2 24 | 26.04× | — | ||
| Q1 24 | 16.86× | — |
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 | $149.5M | $190.4M |
| Free Cash FlowOCF − Capex | $124.2M | $105.2M |
| FCF MarginFCF / Revenue | 15.9% | 17.1% |
| Capex IntensityCapex / Revenue | 3.2% | 13.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $145.0M | $287.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $149.5M | $190.4M | ||
| Q3 25 | $61.5M | $167.1M | ||
| Q2 25 | $21.4M | $99.8M | ||
| Q1 25 | $-12.8M | $145.8M | ||
| Q4 24 | $77.0M | $127.3M | ||
| Q3 24 | $168.9M | $104.7M | ||
| Q2 24 | $45.8M | $74.8M | ||
| Q1 24 | $36.8M | $73.6M |
| Q4 25 | $124.2M | $105.2M | ||
| Q3 25 | $46.7M | $82.5M | ||
| Q2 25 | $7.9M | $39.9M | ||
| Q1 25 | $-33.8M | $59.9M | ||
| Q4 24 | $42.4M | $54.2M | ||
| Q3 24 | $141.5M | $54.5M | ||
| Q2 24 | $27.3M | $45.2M | ||
| Q1 24 | $10.3M | $41.5M |
| Q4 25 | 15.9% | 17.1% | ||
| Q3 25 | 5.6% | 14.7% | ||
| Q2 25 | 1.1% | 7.8% | ||
| Q1 25 | -5.1% | 12.5% | ||
| Q4 24 | 5.8% | 11.8% | ||
| Q3 24 | 17.6% | 12.7% | ||
| Q2 24 | 3.9% | 11.3% | ||
| Q1 24 | 1.6% | 11.0% |
| Q4 25 | 3.2% | 13.9% | ||
| Q3 25 | 1.8% | 15.1% | ||
| Q2 25 | 1.9% | 11.7% | ||
| Q1 25 | 3.2% | 17.9% | ||
| Q4 24 | 4.7% | 15.9% | ||
| Q3 24 | 3.4% | 11.7% | ||
| Q2 24 | 2.6% | 7.4% | ||
| Q1 24 | 4.0% | 8.5% |
| Q4 25 | — | — | ||
| Q3 25 | 1.76× | — | ||
| Q2 25 | 0.14× | — | ||
| Q1 25 | -0.45× | — | ||
| Q4 24 | 3.45× | — | ||
| Q3 24 | 3.55× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.14× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENR
| Alkaline Batteries | $666.5M | 86% |
| Auto Care | $93.7M | 12% |
| Lights | $18.7M | 2% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
