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Side-by-side financial comparison of Magnera Corp (MAGN) and Cloudflare, Inc. (NET). Click either name above to swap in a different company.
Magnera Corp is the larger business by last-quarter revenue ($792.0M vs $614.5M, roughly 1.3× Cloudflare, Inc.). Cloudflare, Inc. runs the higher net margin — -2.0% vs -4.3%, a 2.3% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 12.8%). Cloudflare, Inc. produced more free cash flow last quarter ($105.2M vs $-13.0M). Over the past eight quarters, Magnera Corp's revenue compounded faster (54.9% CAGR vs 27.4%).
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.
MAGN vs NET — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $614.5M |
| Net Profit | $-34.0M | $-12.1M |
| Gross Margin | 12.2% | 73.6% |
| Operating Margin | 1.8% | -8.0% |
| Net Margin | -4.3% | -2.0% |
| Revenue YoY | 12.8% | 33.6% |
| Net Profit YoY | 43.3% | 6.0% |
| EPS (diluted) | $-0.95 | $-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 | $792.0M | $614.5M | ||
| Q3 25 | — | $562.0M | ||
| Q2 25 | $839.0M | $512.3M | ||
| Q1 25 | $824.0M | $479.1M | ||
| Q4 24 | $702.0M | $459.9M | ||
| Q3 24 | $332.1M | $430.1M | ||
| Q2 24 | $556.0M | $401.0M | ||
| Q1 24 | $558.0M | $378.6M |
| Q4 25 | $-34.0M | $-12.1M | ||
| Q3 25 | — | $-1.3M | ||
| Q2 25 | $-18.0M | $-50.4M | ||
| Q1 25 | $-41.0M | $-38.5M | ||
| Q4 24 | $-60.0M | $-12.8M | ||
| Q3 24 | $-15.2M | $-15.3M | ||
| Q2 24 | $19.0M | $-15.1M | ||
| Q1 24 | $14.0M | $-35.5M |
| Q4 25 | 12.2% | 73.6% | ||
| Q3 25 | — | 74.0% | ||
| Q2 25 | 10.7% | 74.9% | ||
| Q1 25 | 10.7% | 75.9% | ||
| Q4 24 | 10.1% | 76.4% | ||
| Q3 24 | 10.7% | 77.7% | ||
| Q2 24 | 6.6% | 77.8% | ||
| Q1 24 | 6.2% | 77.5% |
| Q4 25 | 1.8% | -8.0% | ||
| Q3 25 | — | -6.7% | ||
| Q2 25 | 1.5% | -13.1% | ||
| Q1 25 | 0.5% | -11.1% | ||
| Q4 24 | -3.1% | -7.5% | ||
| Q3 24 | 0.9% | -7.2% | ||
| Q2 24 | 3.1% | -8.7% | ||
| Q1 24 | 3.8% | -14.4% |
| Q4 25 | -4.3% | -2.0% | ||
| Q3 25 | — | -0.2% | ||
| Q2 25 | -2.1% | -9.8% | ||
| Q1 25 | -5.0% | -8.0% | ||
| Q4 24 | -8.5% | -2.8% | ||
| Q3 24 | -4.6% | -3.6% | ||
| Q2 24 | 3.4% | -3.8% | ||
| Q1 24 | 2.5% | -9.4% |
| Q4 25 | $-0.95 | $-0.03 | ||
| Q3 25 | — | $0.00 | ||
| Q2 25 | $-0.51 | $-0.15 | ||
| Q1 25 | $-1.15 | $-0.11 | ||
| Q4 24 | $-1.69 | $-0.05 | ||
| Q3 24 | $-0.33 | $-0.04 | ||
| Q2 24 | $0.60 | $-0.04 | ||
| Q1 24 | $0.44 | $-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 | $264.0M | $943.5M |
| Total DebtLower is stronger | $1.9B | — |
| Stockholders' EquityBook value | $1.0B | $1.5B |
| Total Assets | $3.9B | $6.0B |
| Debt / EquityLower = less leverage | 1.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $264.0M | $943.5M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | $276.0M | $1.5B | ||
| Q1 25 | $282.0M | $204.5M | ||
| Q4 24 | $215.0M | $147.7M | ||
| Q3 24 | $230.0M | $182.9M | ||
| Q2 24 | $33.9M | $157.0M | ||
| Q1 24 | $30.2M | $254.4M |
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $877.4M | — | ||
| Q1 24 | $884.7M | — |
| Q4 25 | $1.0B | $1.5B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.1B | $1.0B | ||
| Q3 24 | $2.1B | $973.1M | ||
| Q2 24 | $2.4B | $881.5M | ||
| Q1 24 | $2.4B | $797.2M |
| Q4 25 | $3.9B | $6.0B | ||
| Q3 25 | — | $5.8B | ||
| Q2 25 | $4.1B | $5.6B | ||
| Q1 25 | $4.1B | $3.7B | ||
| Q4 24 | $4.0B | $3.3B | ||
| Q3 24 | $2.8B | $3.1B | ||
| Q2 24 | $1.5B | $2.9B | ||
| Q1 24 | $1.5B | $2.8B |
| Q4 25 | 1.86× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.77× | — | ||
| Q1 25 | 1.83× | — | ||
| Q4 24 | 1.80× | — | ||
| Q3 24 | 0.91× | — | ||
| Q2 24 | 0.37× | — | ||
| Q1 24 | 0.36× | — |
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 | $2.0M | $190.4M |
| Free Cash FlowOCF − Capex | $-13.0M | $105.2M |
| FCF MarginFCF / Revenue | -1.6% | 17.1% |
| Capex IntensityCapex / Revenue | 1.9% | 13.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $287.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0M | $190.4M | ||
| Q3 25 | — | $167.1M | ||
| Q2 25 | $0 | $99.8M | ||
| Q1 25 | $65.0M | $145.8M | ||
| Q4 24 | $-58.0M | $127.3M | ||
| Q3 24 | $12.2M | $104.7M | ||
| Q2 24 | $38.0M | $74.8M | ||
| Q1 24 | $20.0M | $73.6M |
| Q4 25 | $-13.0M | $105.2M | ||
| Q3 25 | — | $82.5M | ||
| Q2 25 | — | $39.9M | ||
| Q1 25 | $42.0M | $59.9M | ||
| Q4 24 | $-74.0M | $54.2M | ||
| Q3 24 | $3.6M | $54.5M | ||
| Q2 24 | $23.0M | $45.2M | ||
| Q1 24 | $12.5M | $41.5M |
| Q4 25 | -1.6% | 17.1% | ||
| Q3 25 | — | 14.7% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | 5.1% | 12.5% | ||
| Q4 24 | -10.5% | 11.8% | ||
| Q3 24 | 1.1% | 12.7% | ||
| Q2 24 | 4.1% | 11.3% | ||
| Q1 24 | 2.2% | 11.0% |
| Q4 25 | 1.9% | 13.9% | ||
| Q3 25 | — | 15.1% | ||
| Q2 25 | 1.5% | 11.7% | ||
| Q1 25 | 2.8% | 17.9% | ||
| Q4 24 | 2.3% | 15.9% | ||
| Q3 24 | 2.6% | 11.7% | ||
| Q2 24 | 2.7% | 7.4% | ||
| Q1 24 | 1.3% | 8.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.00× | — | ||
| Q1 24 | 1.43× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MAGN
| Other | $451.0M | 57% |
| United States And Canada | $341.0M | 43% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
