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Side-by-side financial comparison of Cloudflare, Inc. (NET) and PHINIA INC. (PHIN). Click either name above to swap in a different company.
PHINIA INC. is the larger business by last-quarter revenue ($889.0M vs $614.5M, roughly 1.4× Cloudflare, Inc.). On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 6.7%). Cloudflare, Inc. produced more free cash flow last quarter ($105.2M vs $67.0M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 1.5%).
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.
PHINIA Inc. is a global automotive technology provider specializing in fuel injection systems, starters, alternators, and hybrid/electric vehicle components. It serves OEMs and aftermarket customers across North America, Europe, Asia Pacific and key markets, covering passenger car, commercial vehicle and industrial mobility segments.
NET vs PHIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $614.5M | $889.0M |
| Net Profit | $-12.1M | — |
| Gross Margin | 73.6% | 21.7% |
| Operating Margin | -8.0% | 7.8% |
| Net Margin | -2.0% | — |
| Revenue YoY | 33.6% | 6.7% |
| Net Profit YoY | 6.0% | — |
| EPS (diluted) | $-0.03 | $1.14 |
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 | $614.5M | $889.0M | ||
| Q3 25 | $562.0M | $908.0M | ||
| Q2 25 | $512.3M | $890.0M | ||
| Q1 25 | $479.1M | $796.0M | ||
| Q4 24 | $459.9M | $833.0M | ||
| Q3 24 | $430.1M | $839.0M | ||
| Q2 24 | $401.0M | $868.0M | ||
| Q1 24 | $378.6M | $863.0M |
| Q4 25 | $-12.1M | — | ||
| Q3 25 | $-1.3M | $13.0M | ||
| Q2 25 | $-50.4M | $46.0M | ||
| Q1 25 | $-38.5M | $26.0M | ||
| Q4 24 | $-12.8M | — | ||
| Q3 24 | $-15.3M | $31.0M | ||
| Q2 24 | $-15.1M | $14.0M | ||
| Q1 24 | $-35.5M | $29.0M |
| Q4 25 | 73.6% | 21.7% | ||
| Q3 25 | 74.0% | 22.0% | ||
| Q2 25 | 74.9% | 22.1% | ||
| Q1 25 | 75.9% | 21.6% | ||
| Q4 24 | 76.4% | 22.7% | ||
| Q3 24 | 77.7% | 22.3% | ||
| Q2 24 | 77.8% | 21.7% | ||
| Q1 24 | 77.5% | 22.2% |
| Q4 25 | -8.0% | 7.8% | ||
| Q3 25 | -6.7% | 3.7% | ||
| Q2 25 | -13.1% | 10.0% | ||
| Q1 25 | -11.1% | 7.8% | ||
| Q4 24 | -7.5% | 6.1% | ||
| Q3 24 | -7.2% | 7.9% | ||
| Q2 24 | -8.7% | 8.2% | ||
| Q1 24 | -14.4% | 8.2% |
| Q4 25 | -2.0% | — | ||
| Q3 25 | -0.2% | 1.4% | ||
| Q2 25 | -9.8% | 5.2% | ||
| Q1 25 | -8.0% | 3.3% | ||
| Q4 24 | -2.8% | — | ||
| Q3 24 | -3.6% | 3.7% | ||
| Q2 24 | -3.8% | 1.6% | ||
| Q1 24 | -9.4% | 3.4% |
| Q4 25 | $-0.03 | $1.14 | ||
| Q3 25 | $0.00 | $0.33 | ||
| Q2 25 | $-0.15 | $1.14 | ||
| Q1 25 | $-0.11 | $0.63 | ||
| Q4 24 | $-0.05 | $0.13 | ||
| Q3 24 | $-0.04 | $0.70 | ||
| Q2 24 | $-0.04 | $0.31 | ||
| Q1 24 | $-0.10 | $0.62 |
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 | $359.0M |
| Total DebtLower is stronger | — | $970.0M |
| Stockholders' EquityBook value | $1.5B | $1.6B |
| Total Assets | $6.0B | $3.8B |
| Debt / EquityLower = less leverage | — | 0.61× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $943.5M | $359.0M | ||
| Q3 25 | $1.1B | $349.0M | ||
| Q2 25 | $1.5B | $347.0M | ||
| Q1 25 | $204.5M | $373.0M | ||
| Q4 24 | $147.7M | $484.0M | ||
| Q3 24 | $182.9M | $477.0M | ||
| Q2 24 | $157.0M | $339.0M | ||
| Q1 24 | $254.4M | $325.0M |
| Q4 25 | — | $970.0M | ||
| Q3 25 | — | $990.0M | ||
| Q2 25 | — | $990.0M | ||
| Q1 25 | — | $989.0M | ||
| Q4 24 | — | $988.0M | ||
| Q3 24 | — | $987.0M | ||
| Q2 24 | — | $821.0M | ||
| Q1 24 | — | $706.0M |
| Q4 25 | $1.5B | $1.6B | ||
| Q3 25 | $1.3B | $1.6B | ||
| Q2 25 | $1.2B | $1.6B | ||
| Q1 25 | $1.4B | $1.5B | ||
| Q4 24 | $1.0B | $1.6B | ||
| Q3 24 | $973.1M | $1.7B | ||
| Q2 24 | $881.5M | $1.7B | ||
| Q1 24 | $797.2M | $1.9B |
| Q4 25 | $6.0B | $3.8B | ||
| Q3 25 | $5.8B | $4.0B | ||
| Q2 25 | $5.6B | $3.9B | ||
| Q1 25 | $3.7B | $3.7B | ||
| Q4 24 | $3.3B | $3.8B | ||
| Q3 24 | $3.1B | $4.0B | ||
| Q2 24 | $2.9B | $3.9B | ||
| Q1 24 | $2.8B | $4.0B |
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | 0.62× | ||
| Q2 25 | — | 0.61× | ||
| Q1 25 | — | 0.64× | ||
| Q4 24 | — | 0.63× | ||
| Q3 24 | — | 0.58× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.38× |
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 | $190.4M | $96.0M |
| Free Cash FlowOCF − Capex | $105.2M | $67.0M |
| FCF MarginFCF / Revenue | 17.1% | 7.5% |
| Capex IntensityCapex / Revenue | 13.9% | 3.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $287.5M | $188.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $190.4M | $96.0M | ||
| Q3 25 | $167.1M | $119.0M | ||
| Q2 25 | $99.8M | $57.0M | ||
| Q1 25 | $145.8M | $40.0M | ||
| Q4 24 | $127.3M | $73.0M | ||
| Q3 24 | $104.7M | $95.0M | ||
| Q2 24 | $74.8M | $109.0M | ||
| Q1 24 | $73.6M | $31.0M |
| Q4 25 | $105.2M | $67.0M | ||
| Q3 25 | $82.5M | $93.0M | ||
| Q2 25 | $39.9M | $23.0M | ||
| Q1 25 | $59.9M | $5.0M | ||
| Q4 24 | $54.2M | $53.0M | ||
| Q3 24 | $54.5M | $70.0M | ||
| Q2 24 | $45.2M | $92.0M | ||
| Q1 24 | $41.5M | $-12.0M |
| Q4 25 | 17.1% | 7.5% | ||
| Q3 25 | 14.7% | 10.2% | ||
| Q2 25 | 7.8% | 2.6% | ||
| Q1 25 | 12.5% | 0.6% | ||
| Q4 24 | 11.8% | 6.4% | ||
| Q3 24 | 12.7% | 8.3% | ||
| Q2 24 | 11.3% | 10.6% | ||
| Q1 24 | 11.0% | -1.4% |
| Q4 25 | 13.9% | 3.3% | ||
| Q3 25 | 15.1% | 2.9% | ||
| Q2 25 | 11.7% | 3.8% | ||
| Q1 25 | 17.9% | 4.4% | ||
| Q4 24 | 15.9% | 2.4% | ||
| Q3 24 | 11.7% | 3.0% | ||
| Q2 24 | 7.4% | 2.0% | ||
| Q1 24 | 8.5% | 5.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 9.15× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | — | 1.54× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.06× | ||
| Q2 24 | — | 7.79× | ||
| Q1 24 | — | 1.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
PHIN
| Customer | $618.0M | 70% |
| Fuel Systems | $194.0M | 22% |
| Other | $77.0M | 9% |
