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Side-by-side financial comparison of Cloudflare, Inc. (NET) and WYNDHAM HOTELS & RESORTS, INC. (WH). Click either name above to swap in a different company.
Cloudflare, Inc. is the larger business by last-quarter revenue ($614.5M vs $334.0M, roughly 1.8× WYNDHAM HOTELS & RESORTS, INC.). Cloudflare, Inc. runs the higher net margin — -2.0% vs -18.0%, a 16.0% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs -76.3%). WYNDHAM HOTELS & RESORTS, INC. produced more free cash flow last quarter ($168.0M vs $105.2M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs -4.6%).
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.
Wyndham Hotels & Resorts, Inc., is an American hospitality company based in Parsippany, New Jersey, United States. It describes itself as the largest hotel franchisor in the world, with 9,100 locations.
NET vs WH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $614.5M | $334.0M |
| Net Profit | $-12.1M | $-60.0M |
| Gross Margin | 73.6% | — |
| Operating Margin | -8.0% | — |
| Net Margin | -2.0% | -18.0% |
| Revenue YoY | 33.6% | -76.3% |
| Net Profit YoY | 6.0% | -170.6% |
| EPS (diluted) | $-0.03 | $-0.80 |
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 | — | $334.0M | ||
| Q4 25 | $614.5M | $334.0M | ||
| Q3 25 | $562.0M | $382.0M | ||
| Q2 25 | $512.3M | $397.0M | ||
| Q1 25 | $479.1M | $316.0M | ||
| Q4 24 | $459.9M | $336.0M | ||
| Q3 24 | $430.1M | $396.0M | ||
| Q2 24 | $401.0M | $367.0M |
| Q1 26 | — | $-60.0M | ||
| Q4 25 | $-12.1M | $-60.0M | ||
| Q3 25 | $-1.3M | $105.0M | ||
| Q2 25 | $-50.4M | $87.0M | ||
| Q1 25 | $-38.5M | $61.0M | ||
| Q4 24 | $-12.8M | $85.0M | ||
| Q3 24 | $-15.3M | $102.0M | ||
| Q2 24 | $-15.1M | $86.0M |
| 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% | -11.4% | ||
| Q3 25 | -6.7% | 46.6% | ||
| Q2 25 | -13.1% | 37.8% | ||
| Q1 25 | -11.1% | 35.4% | ||
| Q4 24 | -7.5% | 38.4% | ||
| Q3 24 | -7.2% | 43.2% | ||
| Q2 24 | -8.7% | 39.5% |
| Q1 26 | — | -18.0% | ||
| Q4 25 | -2.0% | -18.0% | ||
| Q3 25 | -0.2% | 27.5% | ||
| Q2 25 | -9.8% | 21.9% | ||
| Q1 25 | -8.0% | 19.3% | ||
| Q4 24 | -2.8% | 25.3% | ||
| Q3 24 | -3.6% | 25.8% | ||
| Q2 24 | -3.8% | 23.4% |
| Q1 26 | — | $-0.80 | ||
| Q4 25 | $-0.03 | $-0.77 | ||
| Q3 25 | $0.00 | $1.36 | ||
| Q2 25 | $-0.15 | $1.13 | ||
| Q1 25 | $-0.11 | $0.78 | ||
| Q4 24 | $-0.05 | $1.06 | ||
| Q3 24 | $-0.04 | $1.29 | ||
| Q2 24 | $-0.04 | $1.07 |
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 | $64.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $468.0M |
| Total Assets | $6.0B | $4.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $64.0M | ||
| Q4 25 | $943.5M | $64.0M | ||
| Q3 25 | $1.1B | $70.0M | ||
| Q2 25 | $1.5B | $50.0M | ||
| Q1 25 | $204.5M | $48.0M | ||
| Q4 24 | $147.7M | $103.0M | ||
| Q3 24 | $182.9M | $72.0M | ||
| Q2 24 | $157.0M | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B |
| Q1 26 | — | $468.0M | ||
| Q4 25 | $1.5B | $468.0M | ||
| Q3 25 | $1.3B | $583.0M | ||
| Q2 25 | $1.2B | $570.0M | ||
| Q1 25 | $1.4B | $579.0M | ||
| Q4 24 | $1.0B | $650.0M | ||
| Q3 24 | $973.1M | $583.0M | ||
| Q2 24 | $881.5M | $623.0M |
| Q1 26 | — | $4.2B | ||
| Q4 25 | $6.0B | $4.2B | ||
| Q3 25 | $5.8B | $4.3B | ||
| Q2 25 | $5.6B | $4.3B | ||
| Q1 25 | $3.7B | $4.2B | ||
| Q4 24 | $3.3B | $4.2B | ||
| Q3 24 | $3.1B | $4.2B | ||
| Q2 24 | $2.9B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.37× | ||
| Q3 25 | — | 4.43× | ||
| Q2 25 | — | 4.44× | ||
| Q1 25 | — | 4.29× | ||
| Q4 24 | — | 3.72× | ||
| Q3 24 | — | 4.19× | ||
| Q2 24 | — | 3.83× |
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 | $367.0M |
| Free Cash FlowOCF − Capex | $105.2M | $168.0M |
| FCF MarginFCF / Revenue | 17.1% | 50.3% |
| Capex IntensityCapex / Revenue | 13.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $287.5M | $437.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $367.0M | ||
| Q4 25 | $190.4M | $152.0M | ||
| Q3 25 | $167.1M | $86.0M | ||
| Q2 25 | $99.8M | $70.0M | ||
| Q1 25 | $145.8M | $59.0M | ||
| Q4 24 | $127.3M | $134.0M | ||
| Q3 24 | $104.7M | $79.0M | ||
| Q2 24 | $74.8M | $1.0M |
| Q1 26 | — | $168.0M | ||
| Q4 25 | $105.2M | $136.0M | ||
| Q3 25 | $82.5M | $75.0M | ||
| Q2 25 | $39.9M | $58.0M | ||
| Q1 25 | $59.9M | $52.0M | ||
| Q4 24 | $54.2M | $109.0M | ||
| Q3 24 | $54.5M | $71.0M | ||
| Q2 24 | $45.2M | $-6.0M |
| Q1 26 | — | 50.3% | ||
| Q4 25 | 17.1% | 40.7% | ||
| Q3 25 | 14.7% | 19.6% | ||
| Q2 25 | 7.8% | 14.6% | ||
| Q1 25 | 12.5% | 16.5% | ||
| Q4 24 | 11.8% | 32.4% | ||
| Q3 24 | 12.7% | 17.9% | ||
| Q2 24 | 11.3% | -1.6% |
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | 4.8% | ||
| Q3 25 | 15.1% | 2.9% | ||
| Q2 25 | 11.7% | 3.0% | ||
| Q1 25 | 17.9% | 2.2% | ||
| Q4 24 | 15.9% | 7.4% | ||
| Q3 24 | 11.7% | 2.0% | ||
| Q2 24 | 7.4% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.82× | ||
| Q2 25 | — | 0.80× | ||
| Q1 25 | — | 0.97× | ||
| Q4 24 | — | 1.58× | ||
| Q3 24 | — | 0.77× | ||
| Q2 24 | — | 0.01× |
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% |
WH
| Fee-related and other revenues | $334.0M | 100% |
| Management and other fees | $2.0M | 1% |
