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Side-by-side financial comparison of Cloudflare, Inc. (NET) and NCR Voyix Corp (VYX). Click either name above to swap in a different company.
NCR Voyix Corp is the larger business by last-quarter revenue ($720.0M vs $614.5M, roughly 1.2× Cloudflare, Inc.). NCR Voyix Corp runs the higher net margin — 13.6% vs -2.0%, a 15.6% 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 0.7%).
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.
NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and electronic products. It manufactured self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, and barcode scanners.
NET vs VYX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $614.5M | $720.0M |
| Net Profit | $-12.1M | $98.0M |
| Gross Margin | 73.6% | — |
| Operating Margin | -8.0% | 2.4% |
| Net Margin | -2.0% | 13.6% |
| Revenue YoY | 33.6% | 6.2% |
| Net Profit YoY | 6.0% | 990.9% |
| EPS (diluted) | $-0.03 | $0.64 |
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 | $720.0M | ||
| Q3 25 | $562.0M | $684.0M | ||
| Q2 25 | $512.3M | $666.0M | ||
| Q1 25 | $479.1M | $617.0M | ||
| Q4 24 | $459.9M | $678.0M | ||
| Q3 24 | $430.1M | $708.0M | ||
| Q2 24 | $401.0M | $722.0M | ||
| Q1 24 | $378.6M | $710.0M |
| Q4 25 | $-12.1M | $98.0M | ||
| Q3 25 | $-1.3M | $-19.0M | ||
| Q2 25 | $-50.4M | $0 | ||
| Q1 25 | $-38.5M | $-17.0M | ||
| Q4 24 | $-12.8M | $-11.0M | ||
| Q3 24 | $-15.3M | $1.1B | ||
| Q2 24 | $-15.1M | $-73.0M | ||
| Q1 24 | $-35.5M | $-40.0M |
| Q4 25 | 73.6% | — | ||
| Q3 25 | 74.0% | — | ||
| Q2 25 | 74.9% | — | ||
| Q1 25 | 75.9% | — | ||
| Q4 24 | 76.4% | — | ||
| Q3 24 | 77.7% | 23.4% | ||
| Q2 24 | 77.8% | 17.5% | ||
| Q1 24 | 77.5% | 19.4% |
| Q4 25 | -8.0% | 2.4% | ||
| Q3 25 | -6.7% | 2.2% | ||
| Q2 25 | -13.1% | 2.1% | ||
| Q1 25 | -11.1% | -3.2% | ||
| Q4 24 | -7.5% | -0.1% | ||
| Q3 24 | -7.2% | 2.3% | ||
| Q2 24 | -8.7% | -4.7% | ||
| Q1 24 | -14.4% | -2.7% |
| Q4 25 | -2.0% | 13.6% | ||
| Q3 25 | -0.2% | -2.8% | ||
| Q2 25 | -9.8% | — | ||
| Q1 25 | -8.0% | -2.8% | ||
| Q4 24 | -2.8% | -1.6% | ||
| Q3 24 | -3.6% | 152.8% | ||
| Q2 24 | -3.8% | -10.1% | ||
| Q1 24 | -9.4% | -5.6% |
| Q4 25 | $-0.03 | $0.64 | ||
| Q3 25 | $0.00 | $-0.16 | ||
| Q2 25 | $-0.15 | $-0.03 | ||
| Q1 25 | $-0.11 | $-0.15 | ||
| Q4 24 | $-0.05 | $-0.05 | ||
| Q3 24 | $-0.04 | $7.41 | ||
| Q2 24 | $-0.04 | $-0.53 | ||
| Q1 24 | $-0.10 | $-0.31 |
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 | $231.0M |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $1.5B | $948.0M |
| Total Assets | $6.0B | $3.9B |
| Debt / EquityLower = less leverage | — | 1.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $943.5M | $231.0M | ||
| Q3 25 | $1.1B | $282.0M | ||
| Q2 25 | $1.5B | $276.0M | ||
| Q1 25 | $204.5M | $573.0M | ||
| Q4 24 | $147.7M | $722.0M | ||
| Q3 24 | $182.9M | $792.0M | ||
| Q2 24 | $157.0M | $203.0M | ||
| Q1 24 | $254.4M | $241.0M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | $948.0M | ||
| Q3 25 | $1.3B | $848.0M | ||
| Q2 25 | $1.2B | $867.0M | ||
| Q1 25 | $1.4B | $857.0M | ||
| Q4 24 | $1.0B | $933.0M | ||
| Q3 24 | $973.1M | $1.0B | ||
| Q2 24 | $881.5M | $-85.0M | ||
| Q1 24 | $797.2M | $-34.0M |
| Q4 25 | $6.0B | $3.9B | ||
| Q3 25 | $5.8B | $4.0B | ||
| Q2 25 | $5.6B | $4.0B | ||
| Q1 25 | $3.7B | $4.3B | ||
| Q4 24 | $3.3B | $4.5B | ||
| Q3 24 | $3.1B | $4.7B | ||
| Q2 24 | $2.9B | $4.8B | ||
| Q1 24 | $2.8B | $5.0B |
| Q4 25 | — | 1.17× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.18× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $60.0M |
| Free Cash FlowOCF − Capex | $105.2M | — |
| FCF MarginFCF / Revenue | 17.1% | — |
| Capex IntensityCapex / Revenue | 13.9% | — |
| Cash ConversionOCF / Net Profit | — | 0.61× |
| TTM Free Cash FlowTrailing 4 quarters | $287.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $190.4M | $60.0M | ||
| Q3 25 | $167.1M | $14.0M | ||
| Q2 25 | $99.8M | $-242.0M | ||
| Q1 25 | $145.8M | $-42.0M | ||
| Q4 24 | $127.3M | $-170.0M | ||
| Q3 24 | $104.7M | $11.0M | ||
| Q2 24 | $74.8M | $62.0M | ||
| Q1 24 | $73.6M | $-35.0M |
| Q4 25 | $105.2M | — | ||
| Q3 25 | $82.5M | $10.0M | ||
| Q2 25 | $39.9M | $-249.0M | ||
| Q1 25 | $59.9M | $-50.0M | ||
| Q4 24 | $54.2M | $-177.0M | ||
| Q3 24 | $54.5M | $9.0M | ||
| Q2 24 | $45.2M | $49.0M | ||
| Q1 24 | $41.5M | $-43.0M |
| Q4 25 | 17.1% | — | ||
| Q3 25 | 14.7% | 1.5% | ||
| Q2 25 | 7.8% | -37.4% | ||
| Q1 25 | 12.5% | -8.1% | ||
| Q4 24 | 11.8% | -26.1% | ||
| Q3 24 | 12.7% | 1.3% | ||
| Q2 24 | 11.3% | 6.8% | ||
| Q1 24 | 11.0% | -6.1% |
| Q4 25 | 13.9% | — | ||
| Q3 25 | 15.1% | 0.6% | ||
| Q2 25 | 11.7% | 1.1% | ||
| Q1 25 | 17.9% | 1.3% | ||
| Q4 24 | 15.9% | 1.0% | ||
| Q3 24 | 11.7% | 0.3% | ||
| Q2 24 | 7.4% | 1.8% | ||
| Q1 24 | 8.5% | 1.1% |
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.01× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
VYX
| Services | $484.0M | 67% |
| Products | $236.0M | 33% |
