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Side-by-side financial comparison of Cloudflare, Inc. (NET) and PRA GROUP INC (PRAA). Click either name above to swap in a different company.
Cloudflare, Inc. is the larger business by last-quarter revenue ($614.5M vs $333.4M, roughly 1.8× PRA GROUP INC). PRA GROUP INC runs the higher net margin — 17.0% vs -2.0%, a 18.9% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 13.7%). Cloudflare, Inc. produced more free cash flow last quarter ($105.2M vs $-90.4M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 14.2%).
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.
PRA Group, Inc. is a publicly traded debt buyer and debt collection company based in Norfolk, Virginia. The company buys delinquent consumer debt from credit card issuers and other financial institutions at a discount and pursues collection of the full debt owed. Founded in 1996, PRA Group employs more than 3200 people in 18 countries.
NET vs PRAA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $614.5M | $333.4M |
| Net Profit | $-12.1M | $56.5M |
| Gross Margin | 73.6% | — |
| Operating Margin | -8.0% | 37.7% |
| Net Margin | -2.0% | 17.0% |
| Revenue YoY | 33.6% | 13.7% |
| Net Profit YoY | 6.0% | 206.3% |
| EPS (diluted) | $-0.03 | $1.47 |
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 | $333.4M | ||
| Q3 25 | $562.0M | $311.1M | ||
| Q2 25 | $512.3M | $287.7M | ||
| Q1 25 | $479.1M | $269.6M | ||
| Q4 24 | $459.9M | $293.2M | ||
| Q3 24 | $430.1M | $281.5M | ||
| Q2 24 | $401.0M | $284.2M | ||
| Q1 24 | $378.6M | $255.6M |
| Q4 25 | $-12.1M | $56.5M | ||
| Q3 25 | $-1.3M | $-407.7M | ||
| Q2 25 | $-50.4M | $42.4M | ||
| Q1 25 | $-38.5M | $3.7M | ||
| Q4 24 | $-12.8M | $18.5M | ||
| Q3 24 | $-15.3M | $27.2M | ||
| Q2 24 | $-15.1M | $21.5M | ||
| Q1 24 | $-35.5M | $3.5M |
| 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 | -8.0% | 37.7% | ||
| Q3 25 | -6.7% | -101.4% | ||
| Q2 25 | -13.1% | 29.6% | ||
| Q1 25 | -11.1% | 27.7% | ||
| Q4 24 | -7.5% | 32.1% | ||
| Q3 24 | -7.2% | 32.0% | ||
| Q2 24 | -8.7% | 31.4% | ||
| Q1 24 | -14.4% | 26.0% |
| Q4 25 | -2.0% | 17.0% | ||
| Q3 25 | -0.2% | -131.0% | ||
| Q2 25 | -9.8% | 14.7% | ||
| Q1 25 | -8.0% | 1.4% | ||
| Q4 24 | -2.8% | 6.3% | ||
| Q3 24 | -3.6% | 9.6% | ||
| Q2 24 | -3.8% | 7.6% | ||
| Q1 24 | -9.4% | 1.4% |
| Q4 25 | $-0.03 | $1.47 | ||
| Q3 25 | $0.00 | $-10.43 | ||
| Q2 25 | $-0.15 | $1.08 | ||
| Q1 25 | $-0.11 | $0.09 | ||
| Q4 24 | $-0.05 | $0.47 | ||
| Q3 24 | $-0.04 | $0.69 | ||
| Q2 24 | $-0.04 | $0.54 | ||
| Q1 24 | $-0.10 | $0.09 |
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 | $104.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $979.9M |
| Total Assets | $6.0B | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $943.5M | $104.4M | ||
| Q3 25 | $1.1B | $107.5M | ||
| Q2 25 | $1.5B | $131.6M | ||
| Q1 25 | $204.5M | $128.7M | ||
| Q4 24 | $147.7M | $105.9M | ||
| Q3 24 | $182.9M | $141.1M | ||
| Q2 24 | $157.0M | $118.9M | ||
| Q1 24 | $254.4M | $108.1M |
| Q4 25 | $1.5B | $979.9M | ||
| Q3 25 | $1.3B | $928.5M | ||
| Q2 25 | $1.2B | $1.3B | ||
| Q1 25 | $1.4B | $1.2B | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $973.1M | $1.2B | ||
| Q2 24 | $881.5M | $1.1B | ||
| Q1 24 | $797.2M | $1.1B |
| Q4 25 | $6.0B | $5.1B | ||
| Q3 25 | $5.8B | $5.0B | ||
| Q2 25 | $5.6B | $5.4B | ||
| Q1 25 | $3.7B | $5.1B | ||
| Q4 24 | $3.3B | $4.9B | ||
| Q3 24 | $3.1B | $4.9B | ||
| Q2 24 | $2.9B | $4.7B | ||
| Q1 24 | $2.8B | $4.5B |
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 | $-85.5M |
| Free Cash FlowOCF − Capex | $105.2M | $-90.4M |
| FCF MarginFCF / Revenue | 17.1% | -27.1% |
| Capex IntensityCapex / Revenue | 13.9% | 1.4% |
| Cash ConversionOCF / Net Profit | — | -1.51× |
| TTM Free Cash FlowTrailing 4 quarters | $287.5M | $-169.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $190.4M | $-85.5M | ||
| Q3 25 | $167.1M | $-10.1M | ||
| Q2 25 | $99.8M | $-12.9M | ||
| Q1 25 | $145.8M | $-52.6M | ||
| Q4 24 | $127.3M | $-94.6M | ||
| Q3 24 | $104.7M | $-35.0M | ||
| Q2 24 | $74.8M | $-29.5M | ||
| Q1 24 | $73.6M | $-73.0M |
| Q4 25 | $105.2M | $-90.4M | ||
| Q3 25 | $82.5M | $-11.3M | ||
| Q2 25 | $39.9M | $-14.2M | ||
| Q1 25 | $59.9M | $-53.5M | ||
| Q4 24 | $54.2M | $-98.6M | ||
| Q3 24 | $54.5M | $-36.1M | ||
| Q2 24 | $45.2M | $-30.8M | ||
| Q1 24 | $41.5M | $-73.5M |
| Q4 25 | 17.1% | -27.1% | ||
| Q3 25 | 14.7% | -3.6% | ||
| Q2 25 | 7.8% | -4.9% | ||
| Q1 25 | 12.5% | -19.8% | ||
| Q4 24 | 11.8% | -33.6% | ||
| Q3 24 | 12.7% | -12.8% | ||
| Q2 24 | 11.3% | -10.8% | ||
| Q1 24 | 11.0% | -28.8% |
| Q4 25 | 13.9% | 1.4% | ||
| Q3 25 | 15.1% | 0.4% | ||
| Q2 25 | 11.7% | 0.4% | ||
| Q1 25 | 17.9% | 0.3% | ||
| Q4 24 | 15.9% | 1.4% | ||
| Q3 24 | 11.7% | 0.4% | ||
| Q2 24 | 7.4% | 0.5% | ||
| Q1 24 | 8.5% | 0.2% |
| Q4 25 | — | -1.51× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.30× | ||
| Q1 25 | — | -14.37× | ||
| Q4 24 | — | -5.13× | ||
| Q3 24 | — | -1.29× | ||
| Q2 24 | — | -1.37× | ||
| Q1 24 | — | -21.01× |
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% |
PRAA
| GB | $170.1M | 51% |
| Other | $163.3M | 49% |
