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Side-by-side financial comparison of Cloudflare, Inc. (NET) and StoneX Group Inc. (SNEX). Click either name above to swap in a different company.
StoneX Group Inc. is the larger business by last-quarter revenue ($1.2B vs $614.5M, roughly 2.0× Cloudflare, Inc.). StoneX Group Inc. runs the higher net margin — 11.6% vs -2.0%, a 13.5% gap on every dollar of revenue. On growth, StoneX Group Inc. posted the faster year-over-year revenue change (81.0% vs 33.6%). Cloudflare, Inc. produced more free cash flow last quarter ($105.2M vs $-1.3B). Over the past eight quarters, StoneX Group Inc.'s revenue compounded faster (53.5% 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.
StoneX Group Inc. is an American financial services company. The company operates in six areas: commercial hedging, global payments, securities, physical commodities, foreign exchange and clearing and execution services (CES).
NET vs SNEX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $614.5M | $1.2B |
| Net Profit | $-12.1M | $139.0M |
| Gross Margin | 73.6% | — |
| Operating Margin | -8.0% | 15.4% |
| Net Margin | -2.0% | 11.6% |
| Revenue YoY | 33.6% | 81.0% |
| Net Profit YoY | 6.0% | 63.3% |
| EPS (diluted) | $-0.03 | $2.50 |
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 | $1.2B | ||
| Q3 25 | $562.0M | $32.7B | ||
| Q2 25 | $512.3M | $851.2M | ||
| Q1 25 | $479.1M | $820.4M | ||
| Q4 24 | $459.9M | $663.1M | ||
| Q3 24 | $430.1M | $31.1B | ||
| Q2 24 | $401.0M | $571.8M | ||
| Q1 24 | $378.6M | $509.2M |
| Q4 25 | $-12.1M | $139.0M | ||
| Q3 25 | $-1.3M | $85.7M | ||
| Q2 25 | $-50.4M | $63.4M | ||
| Q1 25 | $-38.5M | $71.7M | ||
| Q4 24 | $-12.8M | $85.1M | ||
| Q3 24 | $-15.3M | $76.7M | ||
| Q2 24 | $-15.1M | $61.9M | ||
| Q1 24 | $-35.5M | $53.1M |
| Q4 25 | 73.6% | — | ||
| Q3 25 | 74.0% | 3.7% | ||
| Q2 25 | 74.9% | — | ||
| Q1 25 | 75.9% | — | ||
| Q4 24 | 76.4% | — | ||
| Q3 24 | 77.7% | 3.0% | ||
| Q2 24 | 77.8% | — | ||
| Q1 24 | 77.5% | — |
| Q4 25 | -8.0% | 15.4% | ||
| Q3 25 | -6.7% | 0.3% | ||
| Q2 25 | -13.1% | -1.3% | ||
| Q1 25 | -11.1% | -1.0% | ||
| Q4 24 | -7.5% | -3.2% | ||
| Q3 24 | -7.2% | -0.0% | ||
| Q2 24 | -8.7% | -4.7% | ||
| Q1 24 | -14.4% | -2.5% |
| Q4 25 | -2.0% | 11.6% | ||
| Q3 25 | -0.2% | 0.3% | ||
| Q2 25 | -9.8% | 7.4% | ||
| Q1 25 | -8.0% | 8.7% | ||
| Q4 24 | -2.8% | 12.8% | ||
| Q3 24 | -3.6% | 0.2% | ||
| Q2 24 | -3.8% | 10.8% | ||
| Q1 24 | -9.4% | 10.4% |
| Q4 25 | $-0.03 | $2.50 | ||
| Q3 25 | $0.00 | $0.72 | ||
| Q2 25 | $-0.15 | $1.22 | ||
| Q1 25 | $-0.11 | $1.41 | ||
| Q4 24 | $-0.05 | $1.69 | ||
| Q3 24 | $-0.04 | $2.32 | ||
| Q2 24 | $-0.04 | $1.25 | ||
| Q1 24 | $-0.10 | $1.09 |
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 | $1.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $2.5B |
| Total Assets | $6.0B | $47.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $943.5M | $1.6B | ||
| Q3 25 | $1.1B | $1.6B | ||
| Q2 25 | $1.5B | $1.3B | ||
| Q1 25 | $204.5M | $1.3B | ||
| Q4 24 | $147.7M | $1.4B | ||
| Q3 24 | $182.9M | $1.3B | ||
| Q2 24 | $157.0M | $1.2B | ||
| Q1 24 | $254.4M | $1.3B |
| Q4 25 | $1.5B | $2.5B | ||
| Q3 25 | $1.3B | $2.4B | ||
| Q2 25 | $1.2B | $2.0B | ||
| Q1 25 | $1.4B | $1.9B | ||
| Q4 24 | $1.0B | $1.8B | ||
| Q3 24 | $973.1M | $1.7B | ||
| Q2 24 | $881.5M | $1.6B | ||
| Q1 24 | $797.2M | $1.5B |
| Q4 25 | $6.0B | $47.8B | ||
| Q3 25 | $5.8B | $45.3B | ||
| Q2 25 | $5.6B | $34.3B | ||
| Q1 25 | $3.7B | $31.3B | ||
| Q4 24 | $3.3B | $29.6B | ||
| Q3 24 | $3.1B | $27.5B | ||
| Q2 24 | $2.9B | $25.9B | ||
| Q1 24 | $2.8B | $25.7B |
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 | $-1.3B |
| Free Cash FlowOCF − Capex | $105.2M | $-1.3B |
| FCF MarginFCF / Revenue | 17.1% | -106.4% |
| Capex IntensityCapex / Revenue | 13.9% | 1.3% |
| Cash ConversionOCF / Net Profit | — | -9.08× |
| TTM Free Cash FlowTrailing 4 quarters | $287.5M | $3.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $190.4M | $-1.3B | ||
| Q3 25 | $167.1M | $3.5B | ||
| Q2 25 | $99.8M | $1.5B | ||
| Q1 25 | $145.8M | $-154.5M | ||
| Q4 24 | $127.3M | $-477.8M | ||
| Q3 24 | $104.7M | $192.6M | ||
| Q2 24 | $74.8M | $-622.1M | ||
| Q1 24 | $73.6M | $784.0M |
| Q4 25 | $105.2M | $-1.3B | ||
| Q3 25 | $82.5M | $3.5B | ||
| Q2 25 | $39.9M | $1.5B | ||
| Q1 25 | $59.9M | $-169.8M | ||
| Q4 24 | $54.2M | $-491.4M | ||
| Q3 24 | $54.5M | $175.9M | ||
| Q2 24 | $45.2M | $-640.5M | ||
| Q1 24 | $41.5M | $766.6M |
| Q4 25 | 17.1% | -106.4% | ||
| Q3 25 | 14.7% | 10.7% | ||
| Q2 25 | 7.8% | 173.3% | ||
| Q1 25 | 12.5% | -20.7% | ||
| Q4 24 | 11.8% | -74.1% | ||
| Q3 24 | 12.7% | 0.6% | ||
| Q2 24 | 11.3% | -112.0% | ||
| Q1 24 | 11.0% | 150.5% |
| Q4 25 | 13.9% | 1.3% | ||
| Q3 25 | 15.1% | 0.1% | ||
| Q2 25 | 11.7% | 1.9% | ||
| Q1 25 | 17.9% | 1.9% | ||
| Q4 24 | 15.9% | 2.1% | ||
| Q3 24 | 11.7% | 0.1% | ||
| Q2 24 | 7.4% | 3.2% | ||
| Q1 24 | 8.5% | 3.4% |
| Q4 25 | — | -9.08× | ||
| Q3 25 | — | 41.18× | ||
| Q2 25 | — | 23.52× | ||
| Q1 25 | — | -2.15× | ||
| Q4 24 | — | -5.61× | ||
| Q3 24 | — | 2.51× | ||
| Q2 24 | — | -10.05× | ||
| Q1 24 | — | 14.76× |
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% |
SNEX
Segment breakdown not available.
