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Side-by-side financial comparison of COMFORT SYSTEMS USA INC (FIX) and NetEase, Inc. (NTES). Click either name above to swap in a different company.
NetEase, Inc. is the larger business by last-quarter revenue ($4.0B vs $2.6B, roughly 1.5× COMFORT SYSTEMS USA INC). NetEase, Inc. runs the higher net margin — 31.0% vs 12.5%, a 18.5% gap on every dollar of revenue. NetEase, Inc. produced more free cash flow last quarter ($1.8B vs $402.4M). Over the past eight quarters, COMFORT SYSTEMS USA INC's revenue compounded faster (31.2% CAGR vs 9.7%).
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.
NetEase, Inc. is a Chinese developer and publisher of online PC and mobile games, advertising services, email services, and e-commerce platforms. It is one of the largest Internet and video game companies in the world and was founded by Ding Lei in June 1997.
FIX vs NTES — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.6B | $4.0B |
| Net Profit | $330.8M | $1.2B |
| Gross Margin | 25.5% | 64.1% |
| Operating Margin | 16.1% | 28.3% |
| Net Margin | 12.5% | 31.0% |
| Revenue YoY | 41.7% | — |
| Net Profit YoY | 126.8% | — |
| EPS (diluted) | $9.35 | — |
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 | — | ||
| Q3 25 | $2.5B | $4.0B | ||
| Q2 25 | $2.2B | $3.9B | ||
| Q1 25 | $1.8B | $4.0B | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.8B | $3.7B | ||
| Q2 24 | $1.8B | $3.5B | ||
| Q1 24 | $1.5B | $3.7B |
| Q4 25 | $330.8M | — | ||
| Q3 25 | $291.6M | $1.2B | ||
| Q2 25 | $230.8M | $1.3B | ||
| Q1 25 | $169.3M | $1.5B | ||
| Q4 24 | $145.9M | — | ||
| Q3 24 | $146.2M | $955.7M | ||
| Q2 24 | $134.0M | $939.6M | ||
| Q1 24 | $96.3M | $1.1B |
| Q4 25 | 25.5% | — | ||
| Q3 25 | 24.8% | 64.1% | ||
| Q2 25 | 23.5% | 64.7% | ||
| Q1 25 | 22.0% | 64.1% | ||
| Q4 24 | 23.2% | — | ||
| Q3 24 | 21.1% | 62.9% | ||
| Q2 24 | 20.1% | 62.9% | ||
| Q1 24 | 19.3% | 63.4% |
| Q4 25 | 16.1% | — | ||
| Q3 25 | 15.5% | 28.3% | ||
| Q2 25 | 13.8% | 32.5% | ||
| Q1 25 | 11.4% | 36.2% | ||
| Q4 24 | 12.1% | — | ||
| Q3 24 | 11.2% | 27.3% | ||
| Q2 24 | 10.2% | 27.4% | ||
| Q1 24 | 8.8% | 28.4% |
| Q4 25 | 12.5% | — | ||
| Q3 25 | 11.9% | 31.0% | ||
| Q2 25 | 10.6% | 32.6% | ||
| Q1 25 | 9.2% | 36.6% | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 8.1% | 25.6% | ||
| Q2 24 | 7.4% | 26.8% | ||
| Q1 24 | 6.3% | 29.1% |
| Q4 25 | $9.35 | — | ||
| Q3 25 | $8.25 | — | ||
| Q2 25 | $6.53 | — | ||
| Q1 25 | $4.75 | — | ||
| Q4 24 | $4.08 | — | ||
| Q3 24 | $4.09 | — | ||
| Q2 24 | $3.74 | — | ||
| Q1 24 | $2.69 | — |
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 | $31.3B |
| Total DebtLower is stronger | $145.2M | — |
| Stockholders' EquityBook value | $2.4B | $160.8B |
| Total Assets | $6.4B | $214.5B |
| Debt / EquityLower = less leverage | 0.06× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $981.9M | — | ||
| Q3 25 | $860.5M | $31.3B | ||
| Q2 25 | $331.7M | $54.4B | ||
| Q1 25 | $204.8M | $41.7B | ||
| Q4 24 | $549.9M | — | ||
| Q3 24 | $415.6M | $20.2B | ||
| Q2 24 | $199.4M | $19.0B | ||
| Q1 24 | $100.8M | $43.0B |
| Q4 25 | $145.2M | — | ||
| Q3 25 | $136.0M | — | ||
| Q2 25 | $73.0M | — | ||
| Q1 25 | $67.8M | — | ||
| Q4 24 | $68.3M | — | ||
| Q3 24 | $62.3M | — | ||
| Q2 24 | $73.4M | — | ||
| Q1 24 | $77.0M | — |
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.2B | $160.8B | ||
| Q2 25 | $2.0B | $154.0B | ||
| Q1 25 | $1.8B | $147.8B | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.6B | $135.6B | ||
| Q2 24 | $1.5B | $134.2B | ||
| Q1 24 | $1.4B | $130.5B |
| Q4 25 | $6.4B | — | ||
| Q3 25 | $5.8B | $214.5B | ||
| Q2 25 | $5.1B | $208.5B | ||
| Q1 25 | $4.6B | $200.9B | ||
| Q4 24 | $4.7B | — | ||
| Q3 24 | $4.4B | $184.9B | ||
| Q2 24 | $4.2B | $183.3B | ||
| Q1 24 | $3.9B | $195.1B |
| Q4 25 | 0.06× | — | ||
| Q3 25 | 0.06× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.04× | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.05× | — | ||
| Q1 24 | 0.06× | — |
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 | $1.8B |
| Free Cash FlowOCF − Capex | $402.4M | $1.8B |
| FCF MarginFCF / Revenue | 15.2% | 44.7% |
| Capex IntensityCapex / Revenue | 2.5% | 1.0% |
| Cash ConversionOCF / Net Profit | 1.42× | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $6.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $468.5M | — | ||
| Q3 25 | $553.3M | $1.8B | ||
| Q2 25 | $252.5M | $1.5B | ||
| Q1 25 | $-88.0M | $1.7B | ||
| Q4 24 | $210.5M | — | ||
| Q3 24 | $302.2M | $1.5B | ||
| Q2 24 | $189.9M | $898.8M | ||
| Q1 24 | $146.6M | $1.3B |
| Q4 25 | $402.4M | — | ||
| Q3 25 | $517.9M | $1.8B | ||
| Q2 25 | $221.2M | $1.5B | ||
| Q1 25 | $-110.2M | $1.6B | ||
| Q4 24 | $169.8M | — | ||
| Q3 24 | $280.1M | $1.5B | ||
| Q2 24 | $166.5M | $875.6M | ||
| Q1 24 | $121.6M | $1.3B |
| Q4 25 | 15.2% | — | ||
| Q3 25 | 21.1% | 44.7% | ||
| Q2 25 | 10.2% | 38.3% | ||
| Q1 25 | -6.0% | 40.4% | ||
| Q4 24 | 9.1% | — | ||
| Q3 24 | 15.5% | 38.9% | ||
| Q2 24 | 9.2% | 25.0% | ||
| Q1 24 | 7.9% | 34.0% |
| Q4 25 | 2.5% | — | ||
| Q3 25 | 1.4% | 1.0% | ||
| Q2 25 | 1.4% | 0.7% | ||
| Q1 25 | 1.2% | 1.6% | ||
| Q4 24 | 2.2% | — | ||
| Q3 24 | 1.2% | 1.4% | ||
| Q2 24 | 1.3% | 0.7% | ||
| Q1 24 | 1.6% | 1.5% |
| Q4 25 | 1.42× | — | ||
| Q3 25 | 1.90× | 1.47× | ||
| Q2 25 | 1.09× | 1.20× | ||
| Q1 25 | -0.52× | 1.15× | ||
| Q4 24 | 1.44× | — | ||
| Q3 24 | 2.07× | 1.58× | ||
| Q2 24 | 1.42× | 0.96× | ||
| Q1 24 | 1.52× | 1.22× |
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% |
NTES
| Games and related value-added services | $3.3B | 82% |
| NetEase Cloud Music | $275.9M | 7% |
| Youdao | $228.8M | 6% |
| Innovative businesses and others | $202.1M | 5% |
