vs
Side-by-side financial comparison of Cloudflare, Inc. (NET) and VALMONT INDUSTRIES INC (VMI). Click either name above to swap in a different company.
VALMONT INDUSTRIES INC is the larger business by last-quarter revenue ($1.0B vs $614.5M, roughly 1.7× Cloudflare, Inc.). VALMONT INDUSTRIES INC runs the higher net margin — 10.5% vs -2.0%, a 12.5% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 6.2%). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs -0.5%).
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.
Valmont Industries, Inc. is a large, publicly held American manufacturer of Valley center pivot and linear irrigation equipment, windmill support structures, lighting and traffic poles and steel utility poles.
NET vs VMI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $614.5M | $1.0B |
| Net Profit | $-12.1M | $108.0M |
| Gross Margin | 73.6% | 30.8% |
| Operating Margin | -8.0% | 15.1% |
| Net Margin | -2.0% | 10.5% |
| Revenue YoY | 33.6% | 6.2% |
| Net Profit YoY | 6.0% | 23.8% |
| EPS (diluted) | $-0.03 | $5.51 |
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 | — | $1.0B | ||
| Q4 25 | $614.5M | $1.0B | ||
| Q3 25 | $562.0M | $1.0B | ||
| Q2 25 | $512.3M | $1.1B | ||
| Q1 25 | $479.1M | $969.3M | ||
| Q4 24 | $459.9M | $1.0B | ||
| Q3 24 | $430.1M | $1.0B | ||
| Q2 24 | $401.0M | $1.0B |
| Q1 26 | — | $108.0M | ||
| Q4 25 | $-12.1M | $168.0M | ||
| Q3 25 | $-1.3M | $99.0M | ||
| Q2 25 | $-50.4M | $-4.0M | ||
| Q1 25 | $-38.5M | $87.3M | ||
| Q4 24 | $-12.8M | $77.7M | ||
| Q3 24 | $-15.3M | $83.1M | ||
| Q2 24 | $-15.1M | $99.7M |
| Q1 26 | — | 30.8% | ||
| Q4 25 | 73.6% | 29.8% | ||
| Q3 25 | 74.0% | 30.4% | ||
| Q2 25 | 74.9% | 30.6% | ||
| Q1 25 | 75.9% | 30.0% | ||
| Q4 24 | 76.4% | 30.2% | ||
| Q3 24 | 77.7% | 29.6% | ||
| Q2 24 | 77.8% | 30.8% |
| Q1 26 | — | 15.1% | ||
| Q4 25 | -8.0% | 11.2% | ||
| Q3 25 | -6.7% | 13.5% | ||
| Q2 25 | -13.1% | 2.8% | ||
| Q1 25 | -11.1% | 13.2% | ||
| Q4 24 | -7.5% | 11.6% | ||
| Q3 24 | -7.2% | 12.3% | ||
| Q2 24 | -8.7% | 14.2% |
| Q1 26 | — | 10.5% | ||
| Q4 25 | -2.0% | 16.2% | ||
| Q3 25 | -0.2% | 9.5% | ||
| Q2 25 | -9.8% | -0.4% | ||
| Q1 25 | -8.0% | 9.0% | ||
| Q4 24 | -2.8% | 7.5% | ||
| Q3 24 | -3.6% | 8.1% | ||
| Q2 24 | -3.8% | 9.6% |
| Q1 26 | — | $5.51 | ||
| Q4 25 | $-0.03 | $9.02 | ||
| Q3 25 | $0.00 | $4.98 | ||
| Q2 25 | $-0.15 | $-1.53 | ||
| Q1 25 | $-0.11 | $4.32 | ||
| Q4 24 | $-0.05 | $3.85 | ||
| Q3 24 | $-0.04 | $4.11 | ||
| Q2 24 | $-0.04 | $4.91 |
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 | $160.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $1.7B |
| Total Assets | $6.0B | $3.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $160.2M | ||
| Q4 25 | $943.5M | $187.1M | ||
| Q3 25 | $1.1B | $226.1M | ||
| Q2 25 | $1.5B | $208.5M | ||
| Q1 25 | $204.5M | $184.4M | ||
| Q4 24 | $147.7M | $164.3M | ||
| Q3 24 | $182.9M | $200.5M | ||
| Q2 24 | $157.0M | $163.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $795.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $730.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.5B | $1.6B | ||
| Q3 25 | $1.3B | $1.6B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $1.4B | $1.6B | ||
| Q4 24 | $1.0B | $1.5B | ||
| Q3 24 | $973.1M | $1.5B | ||
| Q2 24 | $881.5M | $1.5B |
| Q1 26 | — | $3.4B | ||
| Q4 25 | $6.0B | $3.4B | ||
| Q3 25 | $5.8B | $3.4B | ||
| Q2 25 | $5.6B | $3.3B | ||
| Q1 25 | $3.7B | $3.4B | ||
| Q4 24 | $3.3B | $3.3B | ||
| Q3 24 | $3.1B | $3.5B | ||
| Q2 24 | $2.9B | $3.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $111.2M | ||
| Q3 25 | $167.1M | $112.5M | ||
| Q2 25 | $99.8M | $167.6M | ||
| Q1 25 | $145.8M | $65.1M | ||
| Q4 24 | $127.3M | $193.4M | ||
| Q3 24 | $104.7M | $225.1M | ||
| Q2 24 | $74.8M | $130.8M |
| Q1 26 | — | — | ||
| Q4 25 | $105.2M | $70.4M | ||
| Q3 25 | $82.5M | $70.6M | ||
| Q2 25 | $39.9M | $135.6M | ||
| Q1 25 | $59.9M | $34.8M | ||
| Q4 24 | $54.2M | $167.8M | ||
| Q3 24 | $54.5M | $204.6M | ||
| Q2 24 | $45.2M | $112.5M |
| Q1 26 | — | — | ||
| Q4 25 | 17.1% | 6.8% | ||
| Q3 25 | 14.7% | 6.7% | ||
| Q2 25 | 7.8% | 12.9% | ||
| Q1 25 | 12.5% | 3.6% | ||
| Q4 24 | 11.8% | 16.2% | ||
| Q3 24 | 12.7% | 20.1% | ||
| Q2 24 | 11.3% | 10.8% |
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | 3.9% | ||
| Q3 25 | 15.1% | 4.0% | ||
| Q2 25 | 11.7% | 3.0% | ||
| Q1 25 | 17.9% | 3.1% | ||
| Q4 24 | 15.9% | 2.5% | ||
| Q3 24 | 11.7% | 2.0% | ||
| Q2 24 | 7.4% | 1.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 1.14× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 2.49× | ||
| Q3 24 | — | 2.71× | ||
| Q2 24 | — | 1.31× |
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% |
VMI
| Infrastructure | $803.2M | 78% |
| Agriculture | $226.0M | 22% |
