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Side-by-side financial comparison of FirstCash Holdings, Inc. (FCFS) 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 $501.3M, roughly 1.2× FirstCash Holdings, Inc.). FirstCash Holdings, Inc. runs the higher net margin — 20.8% vs -2.0%, a 22.7% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 21.2%). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 16.9%).
FirstCash Holdings, Inc. is an American pawnshop company headquartered in Fort Worth, Texas which operates retail pawn stores in the U.S. and Latin America. It is a publicly traded company listed on the Nasdaq stock exchange.
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.
FCFS vs NET — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $501.3M | $614.5M |
| Net Profit | $104.2M | $-12.1M |
| Gross Margin | — | 73.6% |
| Operating Margin | 28.5% | -8.0% |
| Net Margin | 20.8% | -2.0% |
| Revenue YoY | 21.2% | 33.6% |
| Net Profit YoY | 24.7% | 6.0% |
| EPS (diluted) | $2.35 | $-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 | $501.3M | $614.5M | ||
| Q3 25 | $411.0M | $562.0M | ||
| Q2 25 | $385.1M | $512.3M | ||
| Q1 25 | $371.1M | $479.1M | ||
| Q4 24 | $413.7M | $459.9M | ||
| Q3 24 | $363.1M | $430.1M | ||
| Q2 24 | $363.5M | $401.0M | ||
| Q1 24 | $366.8M | $378.6M |
| Q4 25 | $104.2M | $-12.1M | ||
| Q3 25 | $82.8M | $-1.3M | ||
| Q2 25 | $59.8M | $-50.4M | ||
| Q1 25 | $83.6M | $-38.5M | ||
| Q4 24 | $83.5M | $-12.8M | ||
| Q3 24 | $64.8M | $-15.3M | ||
| Q2 24 | $49.1M | $-15.1M | ||
| Q1 24 | $61.4M | $-35.5M |
| Q4 25 | — | 73.6% | ||
| Q3 25 | — | 74.0% | ||
| Q2 25 | — | 74.9% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | — | 77.7% | ||
| Q2 24 | — | 77.8% | ||
| Q1 24 | — | 77.5% |
| Q4 25 | 28.5% | -8.0% | ||
| Q3 25 | 27.4% | -6.7% | ||
| Q2 25 | 21.1% | -13.1% | ||
| Q1 25 | 30.0% | -11.1% | ||
| Q4 24 | 26.5% | -7.5% | ||
| Q3 24 | 23.5% | -7.2% | ||
| Q2 24 | 18.2% | -8.7% | ||
| Q1 24 | 22.3% | -14.4% |
| Q4 25 | 20.8% | -2.0% | ||
| Q3 25 | 20.1% | -0.2% | ||
| Q2 25 | 15.5% | -9.8% | ||
| Q1 25 | 22.5% | -8.0% | ||
| Q4 24 | 20.2% | -2.8% | ||
| Q3 24 | 17.9% | -3.6% | ||
| Q2 24 | 13.5% | -3.8% | ||
| Q1 24 | 16.7% | -9.4% |
| Q4 25 | $2.35 | $-0.03 | ||
| Q3 25 | $1.86 | $0.00 | ||
| Q2 25 | $1.34 | $-0.15 | ||
| Q1 25 | $1.87 | $-0.11 | ||
| Q4 24 | $1.86 | $-0.05 | ||
| Q3 24 | $1.44 | $-0.04 | ||
| Q2 24 | $1.08 | $-0.04 | ||
| Q1 24 | $1.35 | $-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 | $125.2M | $943.5M |
| Total DebtLower is stronger | $2.2B | — |
| Stockholders' EquityBook value | $2.3B | $1.5B |
| Total Assets | $5.3B | $6.0B |
| Debt / EquityLower = less leverage | 0.98× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $125.2M | $943.5M | ||
| Q3 25 | $130.2M | $1.1B | ||
| Q2 25 | $101.5M | $1.5B | ||
| Q1 25 | $146.0M | $204.5M | ||
| Q4 24 | $175.1M | $147.7M | ||
| Q3 24 | $106.3M | $182.9M | ||
| Q2 24 | $113.7M | $157.0M | ||
| Q1 24 | $135.1M | $254.4M |
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.7B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | $2.3B | $1.5B | ||
| Q3 25 | $2.2B | $1.3B | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $2.1B | $1.0B | ||
| Q3 24 | $2.0B | $973.1M | ||
| Q2 24 | $2.0B | $881.5M | ||
| Q1 24 | $2.0B | $797.2M |
| Q4 25 | $5.3B | $6.0B | ||
| Q3 25 | $5.2B | $5.8B | ||
| Q2 25 | $4.5B | $5.6B | ||
| Q1 25 | $4.4B | $3.7B | ||
| Q4 24 | $4.5B | $3.3B | ||
| Q3 24 | $4.4B | $3.1B | ||
| Q2 24 | $4.3B | $2.9B | ||
| Q1 24 | $4.2B | $2.8B |
| Q4 25 | 0.98× | — | ||
| Q3 25 | 1.01× | — | ||
| Q2 25 | 0.79× | — | ||
| Q1 25 | 0.83× | — | ||
| Q4 24 | 0.85× | — | ||
| Q3 24 | 0.87× | — | ||
| Q2 24 | 0.85× | — | ||
| Q1 24 | 0.75× | — |
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 | $206.6M | $190.4M |
| Free Cash FlowOCF − Capex | — | $105.2M |
| FCF MarginFCF / Revenue | — | 17.1% |
| Capex IntensityCapex / Revenue | — | 13.9% |
| Cash ConversionOCF / Net Profit | 1.98× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $287.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $206.6M | $190.4M | ||
| Q3 25 | $135.8M | $167.1M | ||
| Q2 25 | $116.9M | $99.8M | ||
| Q1 25 | $126.6M | $145.8M | ||
| Q4 24 | $198.1M | $127.3M | ||
| Q3 24 | $113.1M | $104.7M | ||
| Q2 24 | $106.2M | $74.8M | ||
| Q1 24 | $122.5M | $73.6M |
| Q4 25 | — | $105.2M | ||
| Q3 25 | — | $82.5M | ||
| Q2 25 | — | $39.9M | ||
| Q1 25 | — | $59.9M | ||
| Q4 24 | — | $54.2M | ||
| Q3 24 | — | $54.5M | ||
| Q2 24 | — | $45.2M | ||
| Q1 24 | — | $41.5M |
| Q4 25 | — | 17.1% | ||
| Q3 25 | — | 14.7% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 12.7% | ||
| Q2 24 | — | 11.3% | ||
| Q1 24 | — | 11.0% |
| Q4 25 | — | 13.9% | ||
| Q3 25 | — | 15.1% | ||
| Q2 25 | — | 11.7% | ||
| Q1 25 | — | 17.9% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | — | 11.7% | ||
| Q2 24 | — | 7.4% | ||
| Q1 24 | — | 8.5% |
| Q4 25 | 1.98× | — | ||
| Q3 25 | 1.64× | — | ||
| Q2 25 | 1.95× | — | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | 2.37× | — | ||
| Q3 24 | 1.74× | — | ||
| Q2 24 | 2.16× | — | ||
| Q1 24 | 2.00× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FCFS
| US Pawn Segment | $292.2M | 58% |
| Retail POS Payment Solutions | $209.8M | 42% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
