vs

Side-by-side financial comparison of Alto Ingredients, Inc. (ALTO) and National Energy Services Reunited Corp. (NESR). Click either name above to swap in a different company.

National Energy Services Reunited Corp. is the larger business by last-quarter revenue ($295.3M vs $232.0M, roughly 1.3× Alto Ingredients, Inc.). Alto Ingredients, Inc. runs the higher net margin — 9.4% vs 6.0%, a 3.4% gap on every dollar of revenue. On growth, Alto Ingredients, Inc. posted the faster year-over-year revenue change (-1.9% vs -12.2%). Alto Ingredients, Inc. produced more free cash flow last quarter ($7.6M vs $-34.1M).

Palo Alto Networks, Inc. is an American multinational cybersecurity company with headquarters in Santa Clara, California. The core product is a platform that includes advanced firewalls and cloud-based offerings that extend those firewalls to cover other aspects of security. The company serves over 70,000 organizations in over 150 countries, including 85 of the Fortune 100. It is home to the Unit 42 threat research team and hosts the Ignite cybersecurity conference. It is a partner organizati...

National Energy Services Reunited Corp. is a leading integrated oilfield services provider offering a full suite of solutions covering well construction, completion, production, and intervention services for upstream oil and gas operators. Its core markets cover the Middle East, North Africa, and East Asia, serving both national oil companies and international energy clients.

ALTO vs NESR — Head-to-Head

Bigger by revenue
NESR
NESR
1.3× larger
NESR
$295.3M
$232.0M
ALTO
Growing faster (revenue YoY)
ALTO
ALTO
+10.3% gap
ALTO
-1.9%
-12.2%
NESR
Higher net margin
ALTO
ALTO
3.4% more per $
ALTO
9.4%
6.0%
NESR
More free cash flow
ALTO
ALTO
$41.7M more FCF
ALTO
$7.6M
$-34.1M
NESR

Income Statement — Q4 FY2025 vs Q3 FY2025

Metric
ALTO
ALTO
NESR
NESR
Revenue
$232.0M
$295.3M
Net Profit
$21.8M
$17.7M
Gross Margin
6.5%
12.0%
Operating Margin
3.2%
6.6%
Net Margin
9.4%
6.0%
Revenue YoY
-1.9%
-12.2%
Net Profit YoY
152.3%
-14.0%
EPS (diluted)
$0.28
$0.18

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.

Revenue
ALTO
ALTO
NESR
NESR
Q4 25
$232.0M
Q3 25
$241.0M
$295.3M
Q2 25
$218.4M
$327.4M
Q1 25
$226.5M
$303.1M
Q4 24
$236.3M
Q3 24
$251.8M
$336.2M
Q2 24
$236.5M
$325.0M
Q1 24
$240.6M
Net Profit
ALTO
ALTO
NESR
NESR
Q4 25
$21.8M
Q3 25
$14.2M
$17.7M
Q2 25
$-11.0M
$15.2M
Q1 25
$-11.7M
$10.4M
Q4 24
$-41.7M
Q3 24
$-2.4M
$20.6M
Q2 24
$-3.1M
$18.9M
Q1 24
$-11.7M
Gross Margin
ALTO
ALTO
NESR
NESR
Q4 25
6.5%
Q3 25
9.7%
12.0%
Q2 25
-0.9%
13.4%
Q1 25
-0.8%
12.4%
Q4 24
-0.6%
Q3 24
2.4%
15.9%
Q2 24
3.2%
16.4%
Q1 24
-1.0%
Operating Margin
ALTO
ALTO
NESR
NESR
Q4 25
3.2%
Q3 25
7.0%
6.6%
Q2 25
-3.7%
8.3%
Q1 25
-4.0%
6.9%
Q4 24
-16.6%
Q3 24
-0.3%
10.5%
Q2 24
-0.6%
10.5%
Q1 24
-4.3%
Net Margin
ALTO
ALTO
NESR
NESR
Q4 25
9.4%
Q3 25
5.9%
6.0%
Q2 25
-5.0%
4.6%
Q1 25
-5.2%
3.4%
Q4 24
-17.6%
Q3 24
-1.0%
6.1%
Q2 24
-1.3%
5.8%
Q1 24
-4.9%
EPS (diluted)
ALTO
ALTO
NESR
NESR
Q4 25
$0.28
Q3 25
$0.19
$0.18
Q2 25
$-0.15
$0.16
Q1 25
$-0.16
$0.11
Q4 24
$-0.56
Q3 24
$-0.04
$0.22
Q2 24
$-0.05
$0.20
Q1 24
$-0.17

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ALTO
ALTO
NESR
NESR
Cash + ST InvestmentsLiquidity on hand
$23.4M
$69.7M
Total DebtLower is stronger
$84.6M
$274.1M
Stockholders' EquityBook value
$245.2M
$956.7M
Total Assets
$388.8M
$1.8B
Debt / EquityLower = less leverage
0.34×
0.29×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ALTO
ALTO
NESR
NESR
Q4 25
$23.4M
Q3 25
$32.5M
$69.7M
Q2 25
$29.8M
$131.8M
Q1 25
$26.8M
$78.7M
Q4 24
$35.5M
Q3 24
$33.6M
$118.2M
Q2 24
$27.1M
$75.0M
Q1 24
$29.3M
Total Debt
ALTO
ALTO
NESR
NESR
Q4 25
$84.6M
Q3 25
$106.0M
$274.1M
Q2 25
$124.2M
$291.7M
Q1 25
$117.0M
$309.2M
Q4 24
$99.7M
Q3 24
$90.6M
$358.7M
Q2 24
$98.6M
$376.7M
Q1 24
$92.2M
Stockholders' Equity
ALTO
ALTO
NESR
NESR
Q4 25
$245.2M
Q3 25
$222.4M
$956.7M
Q2 25
$207.8M
$936.9M
Q1 25
$213.9M
$920.5M
Q4 24
$225.1M
Q3 24
$263.9M
$873.5M
Q2 24
$265.8M
$851.4M
Q1 24
$268.7M
Total Assets
ALTO
ALTO
NESR
NESR
Q4 25
$388.8M
Q3 25
$388.5M
$1.8B
Q2 25
$393.1M
$1.8B
Q1 25
$402.2M
$1.8B
Q4 24
$401.4M
Q3 24
$417.4M
$1.8B
Q2 24
$432.5M
$1.8B
Q1 24
$434.6M
Debt / Equity
ALTO
ALTO
NESR
NESR
Q4 25
0.34×
Q3 25
0.48×
0.29×
Q2 25
0.60×
0.31×
Q1 25
0.55×
0.34×
Q4 24
0.44×
Q3 24
0.34×
0.41×
Q2 24
0.37×
0.44×
Q1 24
0.34×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ALTO
ALTO
NESR
NESR
Operating Cash FlowLast quarter
$9.5M
$6.7M
Free Cash FlowOCF − Capex
$7.6M
$-34.1M
FCF MarginFCF / Revenue
3.3%
-11.5%
Capex IntensityCapex / Revenue
0.8%
13.8%
Cash ConversionOCF / Net Profit
0.44×
0.38×
TTM Free Cash FlowTrailing 4 quarters
$8.6M
$68.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ALTO
ALTO
NESR
NESR
Q4 25
$9.5M
Q3 25
$22.8M
$6.7M
Q2 25
$-848.0K
$98.5M
Q1 25
$-18.2M
$20.5M
Q4 24
$-9.8M
Q3 24
$18.6M
$70.8M
Q2 24
$-13.7M
Q1 24
$1.4M
Free Cash Flow
ALTO
ALTO
NESR
NESR
Q4 25
$7.6M
Q3 25
$21.2M
$-34.1M
Q2 25
$-1.3M
$68.7M
Q1 25
$-18.8M
$-9.6M
Q4 24
$-11.1M
Q3 24
$18.1M
$43.4M
Q2 24
$-18.4M
Q1 24
$-3.2M
FCF Margin
ALTO
ALTO
NESR
NESR
Q4 25
3.3%
Q3 25
8.8%
-11.5%
Q2 25
-0.6%
21.0%
Q1 25
-8.3%
-3.2%
Q4 24
-4.7%
Q3 24
7.2%
12.9%
Q2 24
-7.8%
Q1 24
-1.3%
Capex Intensity
ALTO
ALTO
NESR
NESR
Q4 25
0.8%
Q3 25
0.7%
13.8%
Q2 25
0.2%
9.1%
Q1 25
0.2%
9.9%
Q4 24
0.5%
Q3 24
0.2%
8.1%
Q2 24
2.0%
Q1 24
1.9%
Cash Conversion
ALTO
ALTO
NESR
NESR
Q4 25
0.44×
Q3 25
1.60×
0.38×
Q2 25
6.48×
Q1 25
1.97×
Q4 24
Q3 24
3.43×
Q2 24
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

ALTO
ALTO

Pekin Campus Production$105.1M45%
Total Marketing And Distribution Sales$57.9M25%
Marketing And Distributions$55.6M24%
Other$11.2M5%
Kodiak Carbonic LLC$2.1M1%

NESR
NESR

Production Services$174.4M59%
Drilling And Evaluation Services$120.9M41%

Related Comparisons