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Side-by-side financial comparison of iHeartMedia, Inc. (IHRT) and Cloudflare, Inc. (NET). Click either name above to swap in a different company.
iHeartMedia, Inc. is the larger business by last-quarter revenue ($1.1B vs $614.5M, roughly 1.8× Cloudflare, Inc.). Cloudflare, Inc. runs the higher net margin — -2.0% vs -3.7%, a 1.8% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 0.8%). iHeartMedia, Inc. produced more free cash flow last quarter ($137.6M vs $105.2M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 18.8%).
iHeartMedia, Inc., or CC Media Holdings, Inc., is an American mass media corporation headquartered in San Antonio, Texas. It is the holding company of iHeartCommunications, Inc., formerly Clear Channel Communications, Inc., a company founded by Lowry Mays and Red McCombs in 1972, and later taken private by Bain Capital and Thomas H. Lee Partners in a leveraged buyout in 2008.
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.
IHRT vs NET — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $614.5M |
| Net Profit | $-41.9M | $-12.1M |
| Gross Margin | — | 73.6% |
| Operating Margin | 7.6% | -8.0% |
| Net Margin | -3.7% | -2.0% |
| Revenue YoY | 0.8% | 33.6% |
| Net Profit YoY | -233.1% | 6.0% |
| EPS (diluted) | $-0.25 | $-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 | $1.1B | $614.5M | ||
| Q3 25 | $997.0M | $562.0M | ||
| Q2 25 | $933.7M | $512.3M | ||
| Q1 25 | $807.1M | $479.1M | ||
| Q4 24 | $1.1B | $459.9M | ||
| Q3 24 | $1.0B | $430.1M | ||
| Q2 24 | $929.1M | $401.0M | ||
| Q1 24 | $799.0M | $378.6M |
| Q4 25 | $-41.9M | $-12.1M | ||
| Q3 25 | $-66.3M | $-1.3M | ||
| Q2 25 | $-83.5M | $-50.4M | ||
| Q1 25 | $-281.2M | $-38.5M | ||
| Q4 24 | $31.5M | $-12.8M | ||
| Q3 24 | $-41.3M | $-15.3M | ||
| Q2 24 | $-981.7M | $-15.1M | ||
| Q1 24 | $-18.5M | $-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 | 7.6% | -8.0% | ||
| Q3 25 | -11.7% | -6.7% | ||
| Q2 25 | 3.8% | -13.1% | ||
| Q1 25 | -3.2% | -11.1% | ||
| Q4 24 | 9.3% | -7.5% | ||
| Q3 24 | 7.6% | -7.2% | ||
| Q2 24 | -97.9% | -8.7% | ||
| Q1 24 | -4.3% | -14.4% |
| Q4 25 | -3.7% | -2.0% | ||
| Q3 25 | -6.6% | -0.2% | ||
| Q2 25 | -8.9% | -9.8% | ||
| Q1 25 | -34.8% | -8.0% | ||
| Q4 24 | 2.8% | -2.8% | ||
| Q3 24 | -4.1% | -3.6% | ||
| Q2 24 | -105.7% | -3.8% | ||
| Q1 24 | -2.3% | -9.4% |
| Q4 25 | $-0.25 | $-0.03 | ||
| Q3 25 | $-0.43 | $0.00 | ||
| Q2 25 | $-0.54 | $-0.15 | ||
| Q1 25 | $-1.84 | $-0.11 | ||
| Q4 24 | $0.21 | $-0.05 | ||
| Q3 24 | $-0.27 | $-0.04 | ||
| Q2 24 | $-6.50 | $-0.04 | ||
| Q1 24 | $-0.12 | $-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 | $270.9M | $943.5M |
| Total DebtLower is stronger | $5.1B | — |
| Stockholders' EquityBook value | $-1.8B | $1.5B |
| Total Assets | $5.1B | $6.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $270.9M | $943.5M | ||
| Q3 25 | $192.2M | $1.1B | ||
| Q2 25 | $235.9M | $1.5B | ||
| Q1 25 | $167.7M | $204.5M | ||
| Q4 24 | $259.6M | $147.7M | ||
| Q3 24 | $431.8M | $182.9M | ||
| Q2 24 | $364.7M | $157.0M | ||
| Q1 24 | $361.4M | $254.4M |
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.1B | — | ||
| Q2 25 | $5.1B | — | ||
| Q1 25 | $5.1B | — | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $5.2B | — | ||
| Q2 24 | $5.2B | — | ||
| Q1 24 | $5.1B | — |
| Q4 25 | $-1.8B | $1.5B | ||
| Q3 25 | $-1.8B | $1.3B | ||
| Q2 25 | $-1.7B | $1.2B | ||
| Q1 25 | $-1.6B | $1.4B | ||
| Q4 24 | $-1.4B | $1.0B | ||
| Q3 24 | $-1.4B | $973.1M | ||
| Q2 24 | $-1.4B | $881.5M | ||
| Q1 24 | $-398.6M | $797.2M |
| Q4 25 | $5.1B | $6.0B | ||
| Q3 25 | $5.1B | $5.8B | ||
| Q2 25 | $5.4B | $5.6B | ||
| Q1 25 | $5.3B | $3.7B | ||
| Q4 24 | $5.6B | $3.3B | ||
| Q3 24 | $5.8B | $3.1B | ||
| Q2 24 | $5.8B | $2.9B | ||
| Q1 24 | $6.8B | $2.8B |
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 | $156.3M | $190.4M |
| Free Cash FlowOCF − Capex | $137.6M | $105.2M |
| FCF MarginFCF / Revenue | 12.2% | 17.1% |
| Capex IntensityCapex / Revenue | 1.7% | 13.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $10.9M | $287.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $156.3M | $190.4M | ||
| Q3 25 | $-9.5M | $167.1M | ||
| Q2 25 | $6.8M | $99.8M | ||
| Q1 25 | $-60.9M | $145.8M | ||
| Q4 24 | $1.2M | $127.3M | ||
| Q3 24 | $102.8M | $104.7M | ||
| Q2 24 | $26.7M | $74.8M | ||
| Q1 24 | $-59.3M | $73.6M |
| Q4 25 | $137.6M | $105.2M | ||
| Q3 25 | $-32.8M | $82.5M | ||
| Q2 25 | $-13.2M | $39.9M | ||
| Q1 25 | $-80.7M | $59.9M | ||
| Q4 24 | $-24.2M | $54.2M | ||
| Q3 24 | $73.3M | $54.5M | ||
| Q2 24 | $5.6M | $45.2M | ||
| Q1 24 | $-80.9M | $41.5M |
| Q4 25 | 12.2% | 17.1% | ||
| Q3 25 | -3.3% | 14.7% | ||
| Q2 25 | -1.4% | 7.8% | ||
| Q1 25 | -10.0% | 12.5% | ||
| Q4 24 | -2.2% | 11.8% | ||
| Q3 24 | 7.3% | 12.7% | ||
| Q2 24 | 0.6% | 11.3% | ||
| Q1 24 | -10.1% | 11.0% |
| Q4 25 | 1.7% | 13.9% | ||
| Q3 25 | 2.3% | 15.1% | ||
| Q2 25 | 2.1% | 11.7% | ||
| Q1 25 | 2.4% | 17.9% | ||
| Q4 24 | 2.3% | 15.9% | ||
| Q3 24 | 2.9% | 11.7% | ||
| Q2 24 | 2.3% | 7.4% | ||
| Q1 24 | 2.7% | 8.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHRT
| Broadcast Radio | $469.9M | 42% |
| Digital Non Podcast | $212.9M | 19% |
| Tradeand Barter Transactions | $124.4M | 11% |
| Networks | $118.2M | 10% |
| Audio And Media Services Group Segment | $78.9M | 7% |
| Sponsorship And Events | $71.4M | 6% |
| Advertising Trade And Barter Transactions | $23.7M | 2% |
| Other | $22.7M | 2% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
