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Side-by-side financial comparison of COMFORT SYSTEMS USA INC (FIX) and Norwegian Cruise Line Holdings (NCLH). Click either name above to swap in a different company.
COMFORT SYSTEMS USA INC is the larger business by last-quarter revenue ($2.6B vs $2.2B, roughly 1.2× Norwegian Cruise Line Holdings). COMFORT SYSTEMS USA INC runs the higher net margin — 12.5% vs 0.6%, a 11.9% gap on every dollar of revenue. On growth, COMFORT SYSTEMS USA INC posted the faster year-over-year revenue change (41.7% vs 6.4%). COMFORT SYSTEMS USA INC produced more free cash flow last quarter ($402.4M vs $21.5M). Over the past eight quarters, COMFORT SYSTEMS USA INC's revenue compounded faster (31.2% CAGR vs 1.2%).
Comfort Systems USA, Inc. is an American company that provides mechanical and electrical contracting services, primarily HVAC, plumbing, piping and controls, off-site construction, monitoring and fire protection, and installation and servicing of electrical systems.
Norwegian Cruise Line (NCL) is an American cruise line founded in Norway in 1966, headquartered in Miami-Dade County, Florida, and incorporated in the Bahamas. It is the fourth-largest cruise line in the world by passengers, controlling about 8.6% of the total worldwide share of the cruise market by passengers as of 2021. It is wholly owned by parent company Norwegian Cruise Line Holdings.
FIX vs NCLH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.6B | $2.2B |
| Net Profit | $330.8M | $14.3M |
| Gross Margin | 25.5% | 41.0% |
| Operating Margin | 16.1% | 8.3% |
| Net Margin | 12.5% | 0.6% |
| Revenue YoY | 41.7% | 6.4% |
| Net Profit YoY | 126.8% | -94.4% |
| EPS (diluted) | $9.35 | $0.08 |
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 | $2.6B | $2.2B | ||
| Q3 25 | $2.5B | $2.9B | ||
| Q2 25 | $2.2B | $2.5B | ||
| Q1 25 | $1.8B | $2.1B | ||
| Q4 24 | $1.9B | $2.1B | ||
| Q3 24 | $1.8B | $2.8B | ||
| Q2 24 | $1.8B | $2.4B | ||
| Q1 24 | $1.5B | $2.2B |
| Q4 25 | $330.8M | $14.3M | ||
| Q3 25 | $291.6M | $419.3M | ||
| Q2 25 | $230.8M | $30.0M | ||
| Q1 25 | $169.3M | $-40.3M | ||
| Q4 24 | $145.9M | $254.5M | ||
| Q3 24 | $146.2M | $474.9M | ||
| Q2 24 | $134.0M | $163.4M | ||
| Q1 24 | $96.3M | $17.4M |
| Q4 25 | 25.5% | 41.0% | ||
| Q3 25 | 24.8% | 47.1% | ||
| Q2 25 | 23.5% | 42.1% | ||
| Q1 25 | 22.0% | 38.7% | ||
| Q4 24 | 23.2% | 38.0% | ||
| Q3 24 | 21.1% | 45.2% | ||
| Q2 24 | 20.1% | 38.7% | ||
| Q1 24 | 19.3% | 36.7% |
| Q4 25 | 16.1% | 8.3% | ||
| Q3 25 | 15.5% | 25.5% | ||
| Q2 25 | 13.8% | 16.8% | ||
| Q1 25 | 11.4% | 9.4% | ||
| Q4 24 | 12.1% | 10.2% | ||
| Q3 24 | 11.2% | 24.6% | ||
| Q2 24 | 10.2% | 14.4% | ||
| Q1 24 | 8.8% | 10.0% |
| Q4 25 | 12.5% | 0.6% | ||
| Q3 25 | 11.9% | 14.3% | ||
| Q2 25 | 10.6% | 1.2% | ||
| Q1 25 | 9.2% | -1.9% | ||
| Q4 24 | 7.8% | 12.1% | ||
| Q3 24 | 8.1% | 16.9% | ||
| Q2 24 | 7.4% | 6.9% | ||
| Q1 24 | 6.3% | 0.8% |
| Q4 25 | $9.35 | $0.08 | ||
| Q3 25 | $8.25 | $0.86 | ||
| Q2 25 | $6.53 | $0.07 | ||
| Q1 25 | $4.75 | $-0.09 | ||
| Q4 24 | $4.08 | $0.55 | ||
| Q3 24 | $4.09 | $0.95 | ||
| Q2 24 | $3.74 | $0.35 | ||
| Q1 24 | $2.69 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $981.9M | $209.9M |
| Total DebtLower is stronger | $145.2M | $13.7B |
| Stockholders' EquityBook value | $2.4B | $2.2B |
| Total Assets | $6.4B | $22.5B |
| Debt / EquityLower = less leverage | 0.06× | 6.21× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $981.9M | $209.9M | ||
| Q3 25 | $860.5M | $166.8M | ||
| Q2 25 | $331.7M | $184.0M | ||
| Q1 25 | $204.8M | $184.4M | ||
| Q4 24 | $549.9M | $190.8M | ||
| Q3 24 | $415.6M | $332.5M | ||
| Q2 24 | $199.4M | $594.1M | ||
| Q1 24 | $100.8M | $559.8M |
| Q4 25 | $145.2M | $13.7B | ||
| Q3 25 | $136.0M | $13.6B | ||
| Q2 25 | $73.0M | $12.6B | ||
| Q1 25 | $67.8M | $12.9B | ||
| Q4 24 | $68.3M | $11.8B | ||
| Q3 24 | $62.3M | $11.8B | ||
| Q2 24 | $73.4M | $11.9B | ||
| Q1 24 | $77.0M | $12.0B |
| Q4 25 | $2.4B | $2.2B | ||
| Q3 25 | $2.2B | $2.2B | ||
| Q2 25 | $2.0B | $1.6B | ||
| Q1 25 | $1.8B | $1.4B | ||
| Q4 24 | $1.7B | $1.4B | ||
| Q3 24 | $1.6B | $1.1B | ||
| Q2 24 | $1.5B | $693.1M | ||
| Q1 24 | $1.4B | $362.1M |
| Q4 25 | $6.4B | $22.5B | ||
| Q3 25 | $5.8B | $22.2B | ||
| Q2 25 | $5.1B | $21.6B | ||
| Q1 25 | $4.6B | $21.4B | ||
| Q4 24 | $4.7B | $20.0B | ||
| Q3 24 | $4.4B | $19.8B | ||
| Q2 24 | $4.2B | $20.1B | ||
| Q1 24 | $3.9B | $19.8B |
| Q4 25 | 0.06× | 6.21× | ||
| Q3 25 | 0.06× | 6.22× | ||
| Q2 25 | 0.04× | 8.05× | ||
| Q1 25 | 0.04× | 9.09× | ||
| Q4 24 | 0.04× | 8.26× | ||
| Q3 24 | 0.04× | 10.35× | ||
| Q2 24 | 0.05× | 17.19× | ||
| Q1 24 | 0.06× | 33.16× |
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 | $468.5M | $459.1M |
| Free Cash FlowOCF − Capex | $402.4M | $21.5M |
| FCF MarginFCF / Revenue | 15.2% | 1.0% |
| Capex IntensityCapex / Revenue | 2.5% | 19.5% |
| Cash ConversionOCF / Net Profit | 1.42× | 32.21× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $-1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $468.5M | $459.1M | ||
| Q3 25 | $553.3M | $236.6M | ||
| Q2 25 | $252.5M | $714.9M | ||
| Q1 25 | $-88.0M | $679.2M | ||
| Q4 24 | $210.5M | $399.3M | ||
| Q3 24 | $302.2M | $172.5M | ||
| Q2 24 | $189.9M | $670.9M | ||
| Q1 24 | $146.6M | $807.2M |
| Q4 25 | $402.4M | $21.5M | ||
| Q3 25 | $517.9M | $-726.5M | ||
| Q2 25 | $221.2M | $381.2M | ||
| Q1 25 | $-110.2M | $-846.0M | ||
| Q4 24 | $169.8M | $155.8M | ||
| Q3 24 | $280.1M | $-195.5M | ||
| Q2 24 | $166.5M | $330.2M | ||
| Q1 24 | $121.6M | $548.3M |
| Q4 25 | 15.2% | 1.0% | ||
| Q3 25 | 21.1% | -24.7% | ||
| Q2 25 | 10.2% | 15.1% | ||
| Q1 25 | -6.0% | -39.8% | ||
| Q4 24 | 9.1% | 7.4% | ||
| Q3 24 | 15.5% | -7.0% | ||
| Q2 24 | 9.2% | 13.9% | ||
| Q1 24 | 7.9% | 25.0% |
| Q4 25 | 2.5% | 19.5% | ||
| Q3 25 | 1.4% | 32.8% | ||
| Q2 25 | 1.4% | 13.3% | ||
| Q1 25 | 1.2% | 71.7% | ||
| Q4 24 | 2.2% | 11.5% | ||
| Q3 24 | 1.2% | 13.1% | ||
| Q2 24 | 1.3% | 14.4% | ||
| Q1 24 | 1.6% | 11.8% |
| Q4 25 | 1.42× | 32.21× | ||
| Q3 25 | 1.90× | 0.56× | ||
| Q2 25 | 1.09× | 23.83× | ||
| Q1 25 | -0.52× | — | ||
| Q4 24 | 1.44× | 1.57× | ||
| Q3 24 | 2.07× | 0.36× | ||
| Q2 24 | 1.42× | 4.10× | ||
| Q1 24 | 1.52× | 46.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FIX
| Electrical Segment | $823.7M | 31% |
| Manufacturing Customer | $542.7M | 21% |
| Existing Building Construction | $491.4M | 19% |
| Healthcare Sector Customer | $220.8M | 8% |
| Service Projects | $153.0M | 6% |
| Education | $137.5M | 5% |
| Government Customer | $131.0M | 5% |
| Office Building Customer | $88.2M | 3% |
| Other Customer | $40.7M | 2% |
| Multi Family And Residential | $33.7M | 1% |
NCLH
| Passenger | $1.5B | 67% |
| Onboard And Other | $734.4M | 33% |
