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Side-by-side financial comparison of EnerSys (ENS) and Cloudflare, Inc. (NET). Click either name above to swap in a different company.
EnerSys is the larger business by last-quarter revenue ($919.1M vs $614.5M, roughly 1.5× Cloudflare, Inc.). EnerSys runs the higher net margin — 9.8% vs -2.0%, a 11.8% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 1.4%). EnerSys produced more free cash flow last quarter ($171.3M vs $105.2M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 0.5%).
EnerSys is a stored energy systems and technology provider for industrial applications. The company manufactures reserve-power and motive-power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosures.
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.
ENS vs NET — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $919.1M | $614.5M |
| Net Profit | $90.4M | $-12.1M |
| Gross Margin | 30.1% | 73.6% |
| Operating Margin | 13.5% | -8.0% |
| Net Margin | 9.8% | -2.0% |
| Revenue YoY | 1.4% | 33.6% |
| Net Profit YoY | -21.3% | 6.0% |
| EPS (diluted) | $2.40 | $-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 | $919.1M | $614.5M | ||
| Q3 25 | $951.3M | $562.0M | ||
| Q2 25 | $893.0M | $512.3M | ||
| Q1 25 | $974.8M | $479.1M | ||
| Q4 24 | $906.2M | $459.9M | ||
| Q3 24 | $883.7M | $430.1M | ||
| Q2 24 | $852.9M | $401.0M | ||
| Q1 24 | $910.7M | $378.6M |
| Q4 25 | $90.4M | $-12.1M | ||
| Q3 25 | $68.4M | $-1.3M | ||
| Q2 25 | $57.5M | $-50.4M | ||
| Q1 25 | $96.5M | $-38.5M | ||
| Q4 24 | $114.8M | $-12.8M | ||
| Q3 24 | $82.3M | $-15.3M | ||
| Q2 24 | $70.1M | $-15.1M | ||
| Q1 24 | $60.9M | $-35.5M |
| Q4 25 | 30.1% | 73.6% | ||
| Q3 25 | 29.1% | 74.0% | ||
| Q2 25 | 28.4% | 74.9% | ||
| Q1 25 | 31.2% | 75.9% | ||
| Q4 24 | 32.9% | 76.4% | ||
| Q3 24 | 28.5% | 77.7% | ||
| Q2 24 | 27.9% | 77.8% | ||
| Q1 24 | 27.9% | 77.5% |
| Q4 25 | 13.5% | -8.0% | ||
| Q3 25 | 9.7% | -6.7% | ||
| Q2 25 | 9.7% | -13.1% | ||
| Q1 25 | 13.5% | -11.1% | ||
| Q4 24 | 15.7% | -7.5% | ||
| Q3 24 | 11.2% | -7.2% | ||
| Q2 24 | 10.7% | -8.7% | ||
| Q1 24 | 8.9% | -14.4% |
| Q4 25 | 9.8% | -2.0% | ||
| Q3 25 | 7.2% | -0.2% | ||
| Q2 25 | 6.4% | -9.8% | ||
| Q1 25 | 9.9% | -8.0% | ||
| Q4 24 | 12.7% | -2.8% | ||
| Q3 24 | 9.3% | -3.6% | ||
| Q2 24 | 8.2% | -3.8% | ||
| Q1 24 | 6.7% | -9.4% |
| Q4 25 | $2.40 | $-0.03 | ||
| Q3 25 | $1.80 | $0.00 | ||
| Q2 25 | $1.46 | $-0.15 | ||
| Q1 25 | $2.39 | $-0.11 | ||
| Q4 24 | $2.88 | $-0.05 | ||
| Q3 24 | $2.01 | $-0.04 | ||
| Q2 24 | $1.71 | $-0.04 | ||
| Q1 24 | $1.48 | $-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 | $450.1M | $943.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.9B | $1.5B |
| Total Assets | $4.0B | $6.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $450.1M | $943.5M | ||
| Q3 25 | $388.6M | $1.1B | ||
| Q2 25 | $346.7M | $1.5B | ||
| Q1 25 | $343.1M | $204.5M | ||
| Q4 24 | $463.2M | $147.7M | ||
| Q3 24 | $407.9M | $182.9M | ||
| Q2 24 | $344.1M | $157.0M | ||
| Q1 24 | $333.3M | $254.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $802.0M | — |
| Q4 25 | $1.9B | $1.5B | ||
| Q3 25 | $1.9B | $1.3B | ||
| Q2 25 | $1.9B | $1.2B | ||
| Q1 25 | $1.9B | $1.4B | ||
| Q4 24 | $1.8B | $1.0B | ||
| Q3 24 | $1.8B | $973.1M | ||
| Q2 24 | $1.8B | $881.5M | ||
| Q1 24 | $1.8B | $797.2M |
| Q4 25 | $4.0B | $6.0B | ||
| Q3 25 | $4.1B | $5.8B | ||
| Q2 25 | $4.1B | $5.6B | ||
| Q1 25 | $4.0B | $3.7B | ||
| Q4 24 | $4.0B | $3.3B | ||
| Q3 24 | $4.0B | $3.1B | ||
| Q2 24 | $3.6B | $2.9B | ||
| Q1 24 | $3.5B | $2.8B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.57× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.46× | — |
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 | $184.6M | $190.4M |
| Free Cash FlowOCF − Capex | $171.3M | $105.2M |
| FCF MarginFCF / Revenue | 18.6% | 17.1% |
| Capex IntensityCapex / Revenue | 1.4% | 13.9% |
| Cash ConversionOCF / Net Profit | 2.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $441.3M | $287.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $184.6M | $190.4M | ||
| Q3 25 | $218.0M | $167.1M | ||
| Q2 25 | $968.0K | $99.8M | ||
| Q1 25 | $135.2M | $145.8M | ||
| Q4 24 | $81.1M | $127.3M | ||
| Q3 24 | $33.6M | $104.7M | ||
| Q2 24 | $10.4M | $74.8M | ||
| Q1 24 | — | $73.6M |
| Q4 25 | $171.3M | $105.2M | ||
| Q3 25 | $197.1M | $82.5M | ||
| Q2 25 | $-32.1M | $39.9M | ||
| Q1 25 | $104.9M | $59.9M | ||
| Q4 24 | $56.8M | $54.2M | ||
| Q3 24 | $3.3M | $54.5M | ||
| Q2 24 | $-25.7M | $45.2M | ||
| Q1 24 | — | $41.5M |
| Q4 25 | 18.6% | 17.1% | ||
| Q3 25 | 20.7% | 14.7% | ||
| Q2 25 | -3.6% | 7.8% | ||
| Q1 25 | 10.8% | 12.5% | ||
| Q4 24 | 6.3% | 11.8% | ||
| Q3 24 | 0.4% | 12.7% | ||
| Q2 24 | -3.0% | 11.3% | ||
| Q1 24 | — | 11.0% |
| Q4 25 | 1.4% | 13.9% | ||
| Q3 25 | 2.2% | 15.1% | ||
| Q2 25 | 3.7% | 11.7% | ||
| Q1 25 | 3.1% | 17.9% | ||
| Q4 24 | 2.7% | 15.9% | ||
| Q3 24 | 3.4% | 11.7% | ||
| Q2 24 | 4.2% | 7.4% | ||
| Q1 24 | — | 8.5% |
| Q4 25 | 2.04× | — | ||
| Q3 25 | 3.19× | — | ||
| Q2 25 | 0.02× | — | ||
| Q1 25 | 1.40× | — | ||
| Q4 24 | 0.71× | — | ||
| Q3 24 | 0.41× | — | ||
| Q2 24 | 0.15× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENS
| Energy Systems | $399.5M | 43% |
| Motive Power | $352.0M | 38% |
| Services | $92.6M | 10% |
| Transferred Over Time | $38.2M | 4% |
| Other | $36.8M | 4% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
