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Side-by-side financial comparison of Astera Labs, Inc. (ALAB) and NATIONAL FUEL GAS CO (NFG). Click either name above to swap in a different company.
NATIONAL FUEL GAS CO is the larger business by last-quarter revenue ($425.9M vs $270.6M, roughly 1.6× Astera Labs, Inc.). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 16.6%, a 19.1% gap on every dollar of revenue. On growth, Astera Labs, Inc. posted the faster year-over-year revenue change (91.8% vs 1.7%). Over the past eight quarters, Astera Labs, Inc.'s revenue compounded faster (103.6% CAGR vs 12.1%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
National Fuel Gas Company is a diversified energy company with $6.2 billion in assets distributed among the following five operating segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. National Fuel Gas was incorporated in 1902 and is based in Williamsville, New York.
ALAB vs NFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $270.6M | $425.9M |
| Net Profit | $45.0M | $152.0M |
| Gross Margin | 75.6% | — |
| Operating Margin | 24.7% | 81.5% |
| Net Margin | 16.6% | 35.7% |
| Revenue YoY | 91.8% | 1.7% |
| Net Profit YoY | 82.0% | — |
| EPS (diluted) | $0.25 | $1.59 |
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 | — | $425.9M | ||
| Q4 25 | $270.6M | $637.9M | ||
| Q3 25 | $230.6M | $443.1M | ||
| Q2 25 | $191.9M | $527.4M | ||
| Q1 25 | $159.4M | $734.8M | ||
| Q4 24 | $141.1M | $513.8M | ||
| Q3 24 | $113.1M | $310.0M | ||
| Q2 24 | $76.8M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | $45.0M | $181.6M | ||
| Q3 25 | $91.1M | $107.3M | ||
| Q2 25 | $51.2M | $149.8M | ||
| Q1 25 | $31.8M | $216.4M | ||
| Q4 24 | $24.7M | $45.0M | ||
| Q3 24 | $-7.6M | $-167.6M | ||
| Q2 24 | $-7.5M | $-54.2M |
| Q1 26 | — | — | ||
| Q4 25 | 75.6% | 86.6% | ||
| Q3 25 | 76.2% | — | ||
| Q2 25 | 75.8% | 94.7% | ||
| Q1 25 | 74.9% | 81.6% | ||
| Q4 24 | 74.0% | 87.3% | ||
| Q3 24 | 77.7% | — | ||
| Q2 24 | 77.9% | 98.5% |
| Q1 26 | — | 81.5% | ||
| Q4 25 | 24.7% | 43.3% | ||
| Q3 25 | 24.0% | 40.6% | ||
| Q2 25 | 20.7% | 43.7% | ||
| Q1 25 | 7.1% | 43.2% | ||
| Q4 24 | 0.1% | 16.8% | ||
| Q3 24 | -7.9% | -63.4% | ||
| Q2 24 | -31.7% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | 16.6% | 28.5% | ||
| Q3 25 | 39.5% | 24.2% | ||
| Q2 25 | 26.7% | 28.4% | ||
| Q1 25 | 20.0% | 29.4% | ||
| Q4 24 | 17.5% | 8.8% | ||
| Q3 24 | -6.7% | -54.1% | ||
| Q2 24 | -9.8% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | $0.25 | $1.98 | ||
| Q3 25 | $0.50 | $1.18 | ||
| Q2 25 | $0.29 | $1.64 | ||
| Q1 25 | $0.18 | $2.37 | ||
| Q4 24 | $1.23 | $0.49 | ||
| Q3 24 | $-0.05 | $-1.81 | ||
| Q2 24 | $-0.05 | $-0.59 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $167.6M | — |
| Total DebtLower is stronger | — | $300.0M |
| Stockholders' EquityBook value | $1.4B | — |
| Total Assets | $1.5B | $9.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $167.6M | $271.4M | ||
| Q3 25 | $140.4M | $43.2M | ||
| Q2 25 | $162.3M | $39.3M | ||
| Q1 25 | $86.4M | $40.0M | ||
| Q4 24 | $79.6M | $48.7M | ||
| Q3 24 | $126.1M | $38.2M | ||
| Q2 24 | $421.1M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | $3.6B | ||
| Q3 25 | $1.3B | $3.1B | ||
| Q2 25 | $1.1B | $3.0B | ||
| Q1 25 | $1.0B | $2.8B | ||
| Q4 24 | $964.8M | $-76.2M | ||
| Q3 24 | $889.6M | $-15.5M | ||
| Q2 24 | $845.3M | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $1.5B | $9.2B | ||
| Q3 25 | $1.4B | $8.7B | ||
| Q2 25 | $1.3B | $8.4B | ||
| Q1 25 | $1.1B | $8.5B | ||
| Q4 24 | $1.1B | $8.3B | ||
| Q3 24 | $983.1M | $8.3B | ||
| Q2 24 | $915.5M | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 532.10× |
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 | $95.3M | $657.3M |
| Free Cash FlowOCF − Capex | $76.6M | — |
| FCF MarginFCF / Revenue | 28.3% | — |
| Capex IntensityCapex / Revenue | 6.9% | 117.0% |
| Cash ConversionOCF / Net Profit | 2.12× | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $281.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | $95.3M | $274.9M | ||
| Q3 25 | $78.2M | $237.8M | ||
| Q2 25 | $135.4M | $388.4M | ||
| Q1 25 | $10.5M | $253.8M | ||
| Q4 24 | $39.7M | $220.1M | ||
| Q3 24 | $63.5M | $197.9M | ||
| Q2 24 | $29.8M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $76.6M | $-2.7M | ||
| Q3 25 | $65.9M | $-47.8M | ||
| Q2 25 | $133.3M | $195.3M | ||
| Q1 25 | $6.0M | $59.9M | ||
| Q4 24 | $24.3M | $-20.3M | ||
| Q3 24 | $46.8M | $-49.1M | ||
| Q2 24 | $28.5M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | 28.3% | -0.4% | ||
| Q3 25 | 28.6% | -10.8% | ||
| Q2 25 | 69.5% | 37.0% | ||
| Q1 25 | 3.7% | 8.2% | ||
| Q4 24 | 17.2% | -4.0% | ||
| Q3 24 | 41.4% | -15.8% | ||
| Q2 24 | 37.1% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 6.9% | 43.5% | ||
| Q3 25 | 5.3% | 64.4% | ||
| Q2 25 | 1.1% | 36.6% | ||
| Q1 25 | 2.8% | 26.4% | ||
| Q4 24 | 10.9% | 46.8% | ||
| Q3 24 | 14.8% | 79.7% | ||
| Q2 24 | 1.7% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | 2.12× | 1.51× | ||
| Q3 25 | 0.86× | 2.21× | ||
| Q2 25 | 2.64× | 2.59× | ||
| Q1 25 | 0.33× | 1.17× | ||
| Q4 24 | 1.61× | 4.89× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALAB
Segment breakdown not available.
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
