vs
Side-by-side financial comparison of Cloudflare, Inc. (NET) and TEXAS CAPITAL BANCSHARES INC (TCBI). Click either name above to swap in a different company.
Cloudflare, Inc. is the larger business by last-quarter revenue ($614.5M vs $324.0M, roughly 1.9× TEXAS CAPITAL BANCSHARES INC). TEXAS CAPITAL BANCSHARES INC runs the higher net margin — 22.8% vs -2.0%, a 24.7% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 15.5%). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 10.2%).
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.
Texas Capital Bank is a bank headquartered in Dallas, Texas. The bank has branches located in every major city in Texas. Its parent bank holding company is Texas Capital Bancshares. It also operates an online-only banking division, Bask Bank.
NET vs TCBI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $614.5M | $324.0M |
| Net Profit | $-12.1M | $73.8M |
| Gross Margin | 73.6% | — |
| Operating Margin | -8.0% | — |
| Net Margin | -2.0% | 22.8% |
| Revenue YoY | 33.6% | 15.5% |
| Net Profit YoY | 6.0% | 56.8% |
| EPS (diluted) | $-0.03 | $1.56 |
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.
| Q1 26 | — | $324.0M | ||
| Q4 25 | $614.5M | $327.5M | ||
| Q3 25 | $562.0M | $340.4M | ||
| Q2 25 | $512.3M | $307.5M | ||
| Q1 25 | $479.1M | $280.5M | ||
| Q4 24 | $459.9M | $229.6M | ||
| Q3 24 | $430.1M | $125.3M | ||
| Q2 24 | $401.0M | $267.0M |
| Q1 26 | — | $73.8M | ||
| Q4 25 | $-12.1M | $100.7M | ||
| Q3 25 | $-1.3M | $105.2M | ||
| Q2 25 | $-50.4M | $77.3M | ||
| Q1 25 | $-38.5M | $47.0M | ||
| Q4 24 | $-12.8M | $71.0M | ||
| Q3 24 | $-15.3M | $-61.3M | ||
| Q2 24 | $-15.1M | $41.7M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | -8.0% | 40.4% | ||
| Q3 25 | -6.7% | 40.5% | ||
| Q2 25 | -13.1% | 33.2% | ||
| Q1 25 | -11.1% | 21.6% | ||
| Q4 24 | -7.5% | 40.7% | ||
| Q3 24 | -7.2% | -63.8% | ||
| Q2 24 | -8.7% | 21.9% |
| Q1 26 | — | 22.8% | ||
| Q4 25 | -2.0% | 30.7% | ||
| Q3 25 | -0.2% | 30.9% | ||
| Q2 25 | -9.8% | 25.2% | ||
| Q1 25 | -8.0% | 16.8% | ||
| Q4 24 | -2.8% | 30.9% | ||
| Q3 24 | -3.6% | -48.9% | ||
| Q2 24 | -3.8% | 15.6% |
| Q1 26 | — | $1.56 | ||
| Q4 25 | $-0.03 | $2.11 | ||
| Q3 25 | $0.00 | $2.18 | ||
| Q2 25 | $-0.15 | $1.58 | ||
| Q1 25 | $-0.11 | $0.92 | ||
| Q4 24 | $-0.05 | $1.43 | ||
| Q3 24 | $-0.04 | $-1.41 | ||
| Q2 24 | $-0.04 | $0.80 |
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 | — |
| Total DebtLower is stronger | — | $878.3M |
| Stockholders' EquityBook value | $1.5B | $3.6B |
| Total Assets | $6.0B | $33.5B |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $943.5M | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $204.5M | — | ||
| Q4 24 | $147.7M | — | ||
| Q3 24 | $182.9M | — | ||
| Q2 24 | $157.0M | — |
| Q1 26 | — | $878.3M | ||
| Q4 25 | — | $620.6M | ||
| Q3 25 | — | $620.4M | ||
| Q2 25 | — | $620.3M | ||
| Q1 25 | — | $660.5M | ||
| Q4 24 | — | $660.3M | ||
| Q3 24 | — | $660.2M | ||
| Q2 24 | — | $660.0M |
| Q1 26 | — | $3.6B | ||
| Q4 25 | $1.5B | $3.6B | ||
| Q3 25 | $1.3B | $3.6B | ||
| Q2 25 | $1.2B | $3.5B | ||
| Q1 25 | $1.4B | $3.4B | ||
| Q4 24 | $1.0B | $3.4B | ||
| Q3 24 | $973.1M | $3.4B | ||
| Q2 24 | $881.5M | $3.2B |
| Q1 26 | — | $33.5B | ||
| Q4 25 | $6.0B | $31.5B | ||
| Q3 25 | $5.8B | $32.5B | ||
| Q2 25 | $5.6B | $31.9B | ||
| Q1 25 | $3.7B | $31.4B | ||
| Q4 24 | $3.3B | $30.7B | ||
| Q3 24 | $3.1B | $31.6B | ||
| Q2 24 | $2.9B | $29.9B |
| Q1 26 | — | 0.24× | ||
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.17× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 0.20× | ||
| Q3 24 | — | 0.20× | ||
| Q2 24 | — | 0.21× |
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 | — |
| Free Cash FlowOCF − Capex | $105.2M | — |
| FCF MarginFCF / Revenue | 17.1% | — |
| Capex IntensityCapex / Revenue | 13.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $287.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $190.4M | $360.2M | ||
| Q3 25 | $167.1M | $166.3M | ||
| Q2 25 | $99.8M | $63.0M | ||
| Q1 25 | $145.8M | $368.0K | ||
| Q4 24 | $127.3M | $480.1M | ||
| Q3 24 | $104.7M | $332.8M | ||
| Q2 24 | $74.8M | $33.3M |
| Q1 26 | — | — | ||
| Q4 25 | $105.2M | $347.6M | ||
| Q3 25 | $82.5M | $161.3M | ||
| Q2 25 | $39.9M | $57.5M | ||
| Q1 25 | $59.9M | $-2.0M | ||
| Q4 24 | $54.2M | $415.2M | ||
| Q3 24 | $54.5M | $317.6M | ||
| Q2 24 | $45.2M | $11.1M |
| Q1 26 | — | — | ||
| Q4 25 | 17.1% | 106.1% | ||
| Q3 25 | 14.7% | 47.4% | ||
| Q2 25 | 7.8% | 18.7% | ||
| Q1 25 | 12.5% | -0.7% | ||
| Q4 24 | 11.8% | 180.9% | ||
| Q3 24 | 12.7% | 253.4% | ||
| Q2 24 | 11.3% | 4.1% |
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | 3.8% | ||
| Q3 25 | 15.1% | 1.5% | ||
| Q2 25 | 11.7% | 1.8% | ||
| Q1 25 | 17.9% | 0.9% | ||
| Q4 24 | 15.9% | 28.2% | ||
| Q3 24 | 11.7% | 12.1% | ||
| Q2 24 | 7.4% | 8.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.58× | ||
| Q3 25 | — | 1.58× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | 0.01× | ||
| Q4 24 | — | 6.76× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.80× |
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% |
TCBI
Segment breakdown not available.
