CF Industries
CF · Fertilizers & Agricultural Chemicals
$120.68
1.8%Mosaic
MOS · Fertilizers & Agricultural Chemicals
$17.84
3.3%The short version
- Mosaic is the larger business, with $12.1B of revenue in fiscal 2025 against $7.1B for CF Industries, about 1.7 times as much.
- CF Industries grew revenue faster (19.3%, against 8.4%).
- CF Industries kept more of each dollar of sales as operating profit (32.5% operating margin, against 6.8% operating margin).
- CF Industries turned more of its sales into free cash flow (25.4% FCF margin, against −4.4% FCF margin).
- CF Industries earned a higher return on the capital invested in it (20.6%, against 2.5%).
| Latest fiscal year | CF · FY25 | MOS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $18.6B | $5.7B |
| Revenue | $7.1B | $12.1B |
| Free cash flow | $1.8B | −$535M |
| Net income | $1.5B | $541M |
| Growth | ||
| Revenue growth | 19.3% | 8.4% |
| 5-year growth | 11.4% | 6.8% |
| Share count change | −10.2% | −0.6% |
| Profitability | ||
| Gross margin | 38.5% | 15.8% |
| Operating margin | 32.5% | 6.8% |
| Net margin | 20.5% | 4.5% |
| FCF margin | 25.4% | −4.4% |
| Return on capital | 20.6% | 2.5% |
| Return on equity | 29.6% | 4.6% |
| Balance sheet | ||
| Net debt | $1.2B | $4.8B |
| Net debt / EBITDA | 0.4x | 2.6x |
| Dividends and buybacks | $1.7B | $280M |
| Valuation & quality | ||
| P/E | 9.0x | — |
| Piotroski F-score | 8 | 8 |
FY16
CF $3.7B
MOS $7.2B
FY17
CF $4.1B
MOS $7.4B
FY18
CF $4.4B
MOS $9.6B
FY19
CF $4.6B
MOS $8.9B
FY20
CF $4.1B
MOS $8.7B
FY21
CF $6.5B
MOS $12.4B
FY22
CF $11.2B
MOS $19.1B
FY23
CF $6.6B
MOS $13.7B
FY24
CF $5.9B
MOS $11.1B
FY25
CF $7.1B
MOS $12.1B
CF
MOS
FY16
CF 3.7%
MOS 4.5%
FY17
CF 5.7%
MOS 6.3%
FY18
CF 17.3%
MOS 9.7%
FY19
CF 21.9%
MOS −12.3%
FY20
CF 15.1%
MOS 4.8%
FY21
CF 26.5%
MOS 20.0%
FY22
CF 48.3%
MOS 25.0%
FY23
CF 33.6%
MOS 9.8%
FY24
CF 29.4%
MOS 5.6%
FY25
CF 32.5%
MOS 6.8%
CF
MOS
FY16
CF −$1.6B
MOS $417M
FY17
CF $1.2B
MOS $115M
FY18
CF $1.1B
MOS $455M
FY19
CF $1.1B
MOS −$177M
FY20
CF $922M
MOS $412M
FY21
CF $2.4B
MOS $898M
FY22
CF $3.4B
MOS $2.7B
FY23
CF $2.3B
MOS $1.0B
FY24
CF $1.8B
MOS $47.4M
FY25
CF $1.8B
MOS −$535M
CF
MOS
FY16
CF 1.1%
MOS 2.6%
FY17
CF 1.7%
MOS 1.8%
FY18
CF 5.9%
MOS 5.9%
FY19
CF 8.8%
MOS −6.2%
FY20
CF 6.4%
MOS 3.0%
FY21
CF 16.9%
MOS 12.9%
FY22
CF 51.0%
MOS 24.0%
FY23
CF 20.5%
MOS 7.5%
FY24
CF 16.0%
MOS 2.0%
FY25
CF 20.6%
MOS 2.5%
CF
MOS
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.