vs
Side-by-side financial comparison of FOX FACTORY HOLDING CORP (FOXF) 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 $376.4M, roughly 1.6× FOX FACTORY HOLDING CORP). FOX FACTORY HOLDING CORP runs the higher net margin — -0.2% vs -2.0%, a 1.8% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 4.8%). Cloudflare, Inc. produced more free cash flow last quarter ($105.2M vs $-2.5M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 6.4%).
Fox Factory Holding Corp. is an American company best known for their Fox Racing Shox brand of off-road racing suspension components.
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.
FOXF vs NET — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $376.4M | $614.5M |
| Net Profit | $-634.0K | $-12.1M |
| Gross Margin | 30.4% | 73.6% |
| Operating Margin | 4.0% | -8.0% |
| Net Margin | -0.2% | -2.0% |
| Revenue YoY | 4.8% | 33.6% |
| Net Profit YoY | -113.3% | 6.0% |
| EPS (diluted) | $-0.02 | $-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 | $376.4M | $614.5M | ||
| Q3 25 | $374.9M | $562.0M | ||
| Q2 25 | $355.0M | $512.3M | ||
| Q1 25 | $352.8M | $479.1M | ||
| Q4 24 | — | $459.9M | ||
| Q3 24 | $359.1M | $430.1M | ||
| Q2 24 | $348.5M | $401.0M | ||
| Q1 24 | $333.5M | $378.6M |
| Q4 25 | $-634.0K | $-12.1M | ||
| Q3 25 | $2.7M | $-1.3M | ||
| Q2 25 | $-259.7M | $-50.4M | ||
| Q1 25 | $-141.0K | $-38.5M | ||
| Q4 24 | — | $-12.8M | ||
| Q3 24 | $4.8M | $-15.3M | ||
| Q2 24 | $5.4M | $-15.1M | ||
| Q1 24 | $-3.5M | $-35.5M |
| Q4 25 | 30.4% | 73.6% | ||
| Q3 25 | 31.2% | 74.0% | ||
| Q2 25 | 30.9% | 74.9% | ||
| Q1 25 | 28.9% | 75.9% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | 29.9% | 77.7% | ||
| Q2 24 | 31.8% | 77.8% | ||
| Q1 24 | 30.9% | 77.5% |
| Q4 25 | 4.0% | -8.0% | ||
| Q3 25 | 4.9% | -6.7% | ||
| Q2 25 | -70.6% | -13.1% | ||
| Q1 25 | 3.2% | -11.1% | ||
| Q4 24 | — | -7.5% | ||
| Q3 24 | 5.2% | -7.2% | ||
| Q2 24 | 5.3% | -8.7% | ||
| Q1 24 | 2.7% | -14.4% |
| Q4 25 | -0.2% | -2.0% | ||
| Q3 25 | 0.7% | -0.2% | ||
| Q2 25 | -73.1% | -9.8% | ||
| Q1 25 | -0.0% | -8.0% | ||
| Q4 24 | — | -2.8% | ||
| Q3 24 | 1.3% | -3.6% | ||
| Q2 24 | 1.6% | -3.8% | ||
| Q1 24 | -1.0% | -9.4% |
| Q4 25 | $-0.02 | $-0.03 | ||
| Q3 25 | $0.07 | $0.00 | ||
| Q2 25 | $-6.23 | $-0.15 | ||
| Q1 25 | $0.00 | $-0.11 | ||
| Q4 24 | — | $-0.05 | ||
| Q3 24 | $0.11 | $-0.04 | ||
| Q2 24 | $0.13 | $-0.04 | ||
| Q1 24 | $-0.08 | $-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 | — | $943.5M |
| Total DebtLower is stronger | $536.7M | — |
| Stockholders' EquityBook value | $956.0M | $1.5B |
| Total Assets | $2.0B | $6.0B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $943.5M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | $71.7M | $204.5M | ||
| Q4 24 | — | $147.7M | ||
| Q3 24 | — | $182.9M | ||
| Q2 24 | — | $157.0M | ||
| Q1 24 | — | $254.4M |
| Q4 25 | $536.7M | — | ||
| Q3 25 | $541.8M | — | ||
| Q2 25 | $546.9M | — | ||
| Q1 25 | $552.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $558.4M | — | ||
| Q2 24 | $564.1M | — | ||
| Q1 24 | $370.4M | — |
| Q4 25 | $956.0M | $1.5B | ||
| Q3 25 | $958.7M | $1.3B | ||
| Q2 25 | $939.9M | $1.2B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | $1.2B | $973.1M | ||
| Q2 24 | $1.2B | $881.5M | ||
| Q1 24 | $1.2B | $797.2M |
| Q4 25 | $2.0B | $6.0B | ||
| Q3 25 | $2.0B | $5.8B | ||
| Q2 25 | $1.9B | $5.6B | ||
| Q1 25 | $2.2B | $3.7B | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | $2.3B | $3.1B | ||
| Q2 24 | $2.3B | $2.9B | ||
| Q1 24 | $2.2B | $2.8B |
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.58× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.47× | — | ||
| Q1 24 | 0.31× | — |
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 | $5.3M | $190.4M |
| Free Cash FlowOCF − Capex | $-2.5M | $105.2M |
| FCF MarginFCF / Revenue | -0.7% | 17.1% |
| Capex IntensityCapex / Revenue | 2.1% | 13.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $85.4M | $287.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.3M | $190.4M | ||
| Q3 25 | $36.8M | $167.1M | ||
| Q2 25 | $680.0K | $99.8M | ||
| Q1 25 | $81.7M | $145.8M | ||
| Q4 24 | — | $127.3M | ||
| Q3 24 | $14.1M | $104.7M | ||
| Q2 24 | $26.7M | $74.8M | ||
| Q1 24 | $9.4M | $73.6M |
| Q4 25 | $-2.5M | $105.2M | ||
| Q3 25 | $24.6M | $82.5M | ||
| Q2 25 | $-6.5M | $39.9M | ||
| Q1 25 | $69.8M | $59.9M | ||
| Q4 24 | — | $54.2M | ||
| Q3 24 | $3.2M | $54.5M | ||
| Q2 24 | $15.4M | $45.2M | ||
| Q1 24 | $-555.0K | $41.5M |
| Q4 25 | -0.7% | 17.1% | ||
| Q3 25 | 6.6% | 14.7% | ||
| Q2 25 | -1.8% | 7.8% | ||
| Q1 25 | 19.8% | 12.5% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | 0.9% | 12.7% | ||
| Q2 24 | 4.4% | 11.3% | ||
| Q1 24 | -0.2% | 11.0% |
| Q4 25 | 2.1% | 13.9% | ||
| Q3 25 | 3.3% | 15.1% | ||
| Q2 25 | 2.0% | 11.7% | ||
| Q1 25 | 3.4% | 17.9% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | 3.0% | 11.7% | ||
| Q2 24 | 3.2% | 7.4% | ||
| Q1 24 | 3.0% | 8.5% |
| Q4 25 | — | — | ||
| Q3 25 | 13.41× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.94× | — | ||
| Q2 24 | 4.94× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FOXF
| Specialty Sports Group | $132.7M | 35% |
| Powered Vehicles Group | $125.9M | 33% |
| Aftermarket Applications Group | $117.8M | 31% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
