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Side-by-side financial comparison of Cloudflare, Inc. (NET) and WOLVERINE WORLD WIDE INC (WWW). Click either name above to swap in a different company.
Cloudflare, Inc. is the larger business by last-quarter revenue ($614.5M vs $517.5M, roughly 1.2× WOLVERINE WORLD WIDE INC). WOLVERINE WORLD WIDE INC runs the higher net margin — 6.1% vs -2.0%, a 8.1% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 25.5%). WOLVERINE WORLD WIDE INC produced more free cash flow last quarter ($145.6M vs $105.2M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 14.5%).
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.
Wolverine World Wide is a global designer, manufacturer and marketer of branded footwear, apparel and accessories. It owns popular brands including Merrell, Sperry, Saucony and Hush Puppies, serving outdoor, casual, workwear and athletic segments via e-commerce, retail stores and global wholesale networks.
NET vs WWW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $614.5M | $517.5M |
| Net Profit | $-12.1M | $31.8M |
| Gross Margin | 73.6% | 47.3% |
| Operating Margin | -8.0% | 9.7% |
| Net Margin | -2.0% | 6.1% |
| Revenue YoY | 33.6% | 25.5% |
| Net Profit YoY | 6.0% | 162.8% |
| EPS (diluted) | $-0.03 | $0.37 |
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 | — | $517.5M | ||
| Q4 25 | $614.5M | — | ||
| Q3 25 | $562.0M | $470.3M | ||
| Q2 25 | $512.3M | $474.2M | ||
| Q1 25 | $479.1M | $412.3M | ||
| Q4 24 | $459.9M | $494.7M | ||
| Q3 24 | $430.1M | $440.2M | ||
| Q2 24 | $401.0M | $425.2M |
| Q1 26 | — | $31.8M | ||
| Q4 25 | $-12.1M | — | ||
| Q3 25 | $-1.3M | $25.1M | ||
| Q2 25 | $-50.4M | $26.8M | ||
| Q1 25 | $-38.5M | $12.1M | ||
| Q4 24 | $-12.8M | $23.1M | ||
| Q3 24 | $-15.3M | $23.2M | ||
| Q2 24 | $-15.1M | $13.8M |
| Q1 26 | — | 47.3% | ||
| Q4 25 | 73.6% | — | ||
| Q3 25 | 74.0% | 47.5% | ||
| Q2 25 | 74.9% | 47.2% | ||
| Q1 25 | 75.9% | 47.2% | ||
| Q4 24 | 76.4% | 43.4% | ||
| Q3 24 | 77.7% | 45.1% | ||
| Q2 24 | 77.8% | 43.1% |
| Q1 26 | — | 9.7% | ||
| Q4 25 | -8.0% | — | ||
| Q3 25 | -6.7% | 8.4% | ||
| Q2 25 | -13.1% | 8.6% | ||
| Q1 25 | -11.1% | 4.8% | ||
| Q4 24 | -7.5% | 7.4% | ||
| Q3 24 | -7.2% | 7.9% | ||
| Q2 24 | -8.7% | 6.8% |
| Q1 26 | — | 6.1% | ||
| Q4 25 | -2.0% | — | ||
| Q3 25 | -0.2% | 5.3% | ||
| Q2 25 | -9.8% | 5.7% | ||
| Q1 25 | -8.0% | 2.9% | ||
| Q4 24 | -2.8% | 4.7% | ||
| Q3 24 | -3.6% | 5.3% | ||
| Q2 24 | -3.8% | 3.2% |
| Q1 26 | — | $0.37 | ||
| Q4 25 | $-0.03 | — | ||
| Q3 25 | $0.00 | $0.30 | ||
| Q2 25 | $-0.15 | $0.32 | ||
| Q1 25 | $-0.11 | $0.15 | ||
| Q4 24 | $-0.05 | $0.29 | ||
| Q3 24 | $-0.04 | $0.28 | ||
| Q2 24 | $-0.04 | $0.17 |
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 | — | $621.7M |
| Stockholders' EquityBook value | $1.5B | $408.0M |
| Total Assets | $6.0B | $1.7B |
| Debt / EquityLower = less leverage | — | 1.52× |
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 | — | $621.7M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $676.4M | ||
| Q2 25 | — | $708.5M | ||
| Q1 25 | — | $710.8M | ||
| Q4 24 | — | $648.0M | ||
| Q3 24 | — | $702.8M | ||
| Q2 24 | — | $814.7M |
| Q1 26 | — | $408.0M | ||
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.3B | $376.7M | ||
| Q2 25 | $1.2B | $344.0M | ||
| Q1 25 | $1.4B | $310.6M | ||
| Q4 24 | $1.0B | $312.9M | ||
| Q3 24 | $973.1M | $295.2M | ||
| Q2 24 | $881.5M | $262.1M |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $6.0B | — | ||
| Q3 25 | $5.8B | $1.7B | ||
| Q2 25 | $5.6B | $1.8B | ||
| Q1 25 | $3.7B | $1.7B | ||
| Q4 24 | $3.3B | $1.7B | ||
| Q3 24 | $3.1B | $1.8B | ||
| Q2 24 | $2.9B | $1.8B |
| Q1 26 | — | 1.52× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 1.80× | ||
| Q2 25 | — | 2.06× | ||
| Q1 25 | — | 2.29× | ||
| Q4 24 | — | 2.07× | ||
| Q3 24 | — | 2.38× | ||
| Q2 24 | — | 3.11× |
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 | $146.2M |
| Free Cash FlowOCF − Capex | $105.2M | $145.6M |
| FCF MarginFCF / Revenue | 17.1% | 28.1% |
| Capex IntensityCapex / Revenue | 13.9% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 4.60× |
| TTM Free Cash FlowTrailing 4 quarters | $287.5M | $125.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $146.2M | ||
| Q4 25 | $190.4M | — | ||
| Q3 25 | $167.1M | $33.0M | ||
| Q2 25 | $99.8M | $44.6M | ||
| Q1 25 | $145.8M | $-83.8M | ||
| Q4 24 | $127.3M | $82.4M | ||
| Q3 24 | $104.7M | $108.2M | ||
| Q2 24 | $74.8M | $26.7M |
| Q1 26 | — | $145.6M | ||
| Q4 25 | $105.2M | — | ||
| Q3 25 | $82.5M | $30.1M | ||
| Q2 25 | $39.9M | $41.2M | ||
| Q1 25 | $59.9M | $-91.4M | ||
| Q4 24 | $54.2M | $74.4M | ||
| Q3 24 | $54.5M | $104.1M | ||
| Q2 24 | $45.2M | $23.7M |
| Q1 26 | — | 28.1% | ||
| Q4 25 | 17.1% | — | ||
| Q3 25 | 14.7% | 6.4% | ||
| Q2 25 | 7.8% | 8.7% | ||
| Q1 25 | 12.5% | -22.2% | ||
| Q4 24 | 11.8% | 15.0% | ||
| Q3 24 | 12.7% | 23.6% | ||
| Q2 24 | 11.3% | 5.6% |
| Q1 26 | — | 0.1% | ||
| Q4 25 | 13.9% | — | ||
| Q3 25 | 15.1% | 0.6% | ||
| Q2 25 | 11.7% | 0.7% | ||
| Q1 25 | 17.9% | 1.8% | ||
| Q4 24 | 15.9% | 1.6% | ||
| Q3 24 | 11.7% | 0.9% | ||
| Q2 24 | 7.4% | 0.7% |
| Q1 26 | — | 4.60× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 1.31× | ||
| Q2 25 | — | 1.66× | ||
| Q1 25 | — | -6.93× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | — | 4.66× | ||
| Q2 24 | — | 1.93× |
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% |
WWW
| Sales Channel Through Intermediary | $230.2M | 44% |
| Sales Channel Directly To Consumer | $142.6M | 28% |
| Work Group | $134.0M | 26% |
| Other | $10.7M | 2% |
