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Side-by-side financial comparison of loanDepot, Inc. (LDI) 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 $310.3M, roughly 2.0× loanDepot, Inc.). Cloudflare, Inc. runs the higher net margin — -2.0% vs -7.2%, a 5.3% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 20.5%). Cloudflare, Inc. produced more free cash flow last quarter ($105.2M vs $-648.0M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 18.0%).
LoanDepot, sometimes stylized as loanDepot, is an Irvine, California-based nonbank holding company which sells mortgage and non-mortgage lending products.
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.
LDI vs NET — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $310.3M | $614.5M |
| Net Profit | $-22.5M | $-12.1M |
| Gross Margin | — | 73.6% |
| Operating Margin | -10.3% | -8.0% |
| Net Margin | -7.2% | -2.0% |
| Revenue YoY | 20.5% | 33.6% |
| Net Profit YoY | 32.4% | 6.0% |
| EPS (diluted) | — | $-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 | $310.3M | $614.5M | ||
| Q3 25 | $323.3M | $562.0M | ||
| Q2 25 | $282.5M | $512.3M | ||
| Q1 25 | $273.6M | $479.1M | ||
| Q4 24 | $257.5M | $459.9M | ||
| Q3 24 | $314.6M | $430.1M | ||
| Q2 24 | $265.4M | $401.0M | ||
| Q1 24 | $222.8M | $378.6M |
| Q4 25 | $-22.5M | $-12.1M | ||
| Q3 25 | $-4.9M | $-1.3M | ||
| Q2 25 | $-13.4M | $-50.4M | ||
| Q1 25 | $-21.9M | $-38.5M | ||
| Q4 24 | $-33.2M | $-12.8M | ||
| Q3 24 | $1.4M | $-15.3M | ||
| Q2 24 | $-32.2M | $-15.1M | ||
| Q1 24 | $-34.3M | $-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 | -10.3% | -8.0% | ||
| Q3 25 | -3.2% | -6.7% | ||
| Q2 25 | -11.4% | -13.1% | ||
| Q1 25 | -16.8% | -11.1% | ||
| Q4 24 | -32.7% | -7.5% | ||
| Q3 24 | 1.1% | -7.2% | ||
| Q2 24 | -29.1% | -8.7% | ||
| Q1 24 | -38.2% | -14.4% |
| Q4 25 | -7.2% | -2.0% | ||
| Q3 25 | -1.5% | -0.2% | ||
| Q2 25 | -4.7% | -9.8% | ||
| Q1 25 | -8.0% | -8.0% | ||
| Q4 24 | -12.9% | -2.8% | ||
| Q3 24 | 0.4% | -3.6% | ||
| Q2 24 | -12.1% | -3.8% | ||
| Q1 24 | -15.4% | -9.4% |
| Q4 25 | — | $-0.03 | ||
| Q3 25 | — | $0.00 | ||
| Q2 25 | — | $-0.15 | ||
| Q1 25 | — | $-0.11 | ||
| Q4 24 | — | $-0.05 | ||
| Q3 24 | $0.01 | $-0.04 | ||
| Q2 24 | $-0.18 | $-0.04 | ||
| Q1 24 | $-0.19 | $-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 | $337.2M | $943.5M |
| Total DebtLower is stronger | $2.1B | — |
| Stockholders' EquityBook value | $386.0M | $1.5B |
| Total Assets | $6.9B | $6.0B |
| Debt / EquityLower = less leverage | 5.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $337.2M | $943.5M | ||
| Q3 25 | $459.2M | $1.1B | ||
| Q2 25 | $408.6M | $1.5B | ||
| Q1 25 | $371.5M | $204.5M | ||
| Q4 24 | $421.6M | $147.7M | ||
| Q3 24 | $483.0M | $182.9M | ||
| Q2 24 | $533.2M | $157.0M | ||
| Q1 24 | $603.7M | $254.4M |
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $2.3B | — |
| Q4 25 | $386.0M | $1.5B | ||
| Q3 25 | $433.3M | $1.3B | ||
| Q2 25 | $439.1M | $1.2B | ||
| Q1 25 | $469.3M | $1.4B | ||
| Q4 24 | $506.6M | $1.0B | ||
| Q3 24 | $592.0M | $973.1M | ||
| Q2 24 | $578.9M | $881.5M | ||
| Q1 24 | $637.3M | $797.2M |
| Q4 25 | $6.9B | $6.0B | ||
| Q3 25 | $6.2B | $5.8B | ||
| Q2 25 | $6.2B | $5.6B | ||
| Q1 25 | $6.4B | $3.7B | ||
| Q4 24 | $6.3B | $3.3B | ||
| Q3 24 | $6.4B | $3.1B | ||
| Q2 24 | $5.9B | $2.9B | ||
| Q1 24 | $6.2B | $2.8B |
| Q4 25 | 5.44× | — | ||
| Q3 25 | 4.83× | — | ||
| Q2 25 | 4.70× | — | ||
| Q1 25 | 4.30× | — | ||
| Q4 24 | 4.00× | — | ||
| Q3 24 | 3.31× | — | ||
| Q2 24 | 3.41× | — | ||
| Q1 24 | 3.63× | — |
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 | $-638.7M | $190.4M |
| Free Cash FlowOCF − Capex | $-648.0M | $105.2M |
| FCF MarginFCF / Revenue | -208.9% | 17.1% |
| Capex IntensityCapex / Revenue | 3.0% | 13.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-734.6M | $287.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-638.7M | $190.4M | ||
| Q3 25 | $43.4M | $167.1M | ||
| Q2 25 | $67.6M | $99.8M | ||
| Q1 25 | $-179.9M | $145.8M | ||
| Q4 24 | $47.7M | $127.3M | ||
| Q3 24 | $-349.2M | $104.7M | ||
| Q2 24 | $-278.3M | $74.8M | ||
| Q1 24 | $-278.5M | $73.6M |
| Q4 25 | $-648.0M | $105.2M | ||
| Q3 25 | $38.7M | $82.5M | ||
| Q2 25 | $61.4M | $39.9M | ||
| Q1 25 | $-186.7M | $59.9M | ||
| Q4 24 | $40.8M | $54.2M | ||
| Q3 24 | $-356.4M | $54.5M | ||
| Q2 24 | $-285.7M | $45.2M | ||
| Q1 24 | $-283.3M | $41.5M |
| Q4 25 | -208.9% | 17.1% | ||
| Q3 25 | 12.0% | 14.7% | ||
| Q2 25 | 21.7% | 7.8% | ||
| Q1 25 | -68.2% | 12.5% | ||
| Q4 24 | 15.8% | 11.8% | ||
| Q3 24 | -113.3% | 12.7% | ||
| Q2 24 | -107.7% | 11.3% | ||
| Q1 24 | -127.2% | 11.0% |
| Q4 25 | 3.0% | 13.9% | ||
| Q3 25 | 1.5% | 15.1% | ||
| Q2 25 | 2.2% | 11.7% | ||
| Q1 25 | 2.5% | 17.9% | ||
| Q4 24 | 2.7% | 15.9% | ||
| Q3 24 | 2.3% | 11.7% | ||
| Q2 24 | 2.8% | 7.4% | ||
| Q1 24 | 2.1% | 8.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -255.05× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LDI
Segment breakdown not available.
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
