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Side-by-side financial comparison of American Homes 4 Rent (AMH) 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 ($637.9M vs $455.0M, roughly 1.4× American Homes 4 Rent). American Homes 4 Rent runs the higher net margin — 31.7% vs 28.5%, a 3.2% gap on every dollar of revenue. On growth, NATIONAL FUEL GAS CO posted the faster year-over-year revenue change (24.1% vs 4.2%). American Homes 4 Rent produced more free cash flow last quarter ($823.7M vs $-2.7M). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (6.9% CAGR vs 3.6%).
American Homes 4 RentAMHEarnings & Financial Report
American Homes 4 Rent, doing business as AMH, is a real estate investment trust based in Las Vegas, Nevada, that invests in single-family rental homes. As of December 31, 2019, the company owned 52,552 homes in 22 states. Its largest concentrations are in Atlanta, Dallas-Fort Worth, and Charlotte, North Carolina.
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.
AMH vs NFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $455.0M | $637.9M |
| Net Profit | $144.3M | $181.6M |
| Gross Margin | — | 86.6% |
| Operating Margin | — | 43.3% |
| Net Margin | 31.7% | 28.5% |
| Revenue YoY | 4.2% | 24.1% |
| Net Profit YoY | 0.3% | 303.8% |
| EPS (diluted) | $0.33 | $1.98 |
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.
| Q4 25 | $455.0M | $637.9M | ||
| Q3 25 | $478.5M | $443.1M | ||
| Q2 25 | $457.5M | $527.4M | ||
| Q1 25 | $459.3M | $734.8M | ||
| Q4 24 | $436.6M | $513.8M | ||
| Q3 24 | $445.1M | $310.0M | ||
| Q2 24 | $423.5M | $338.6M | ||
| Q1 24 | $423.6M | $558.7M |
| Q4 25 | $144.3M | $181.6M | ||
| Q3 25 | $116.8M | $107.3M | ||
| Q2 25 | $123.6M | $149.8M | ||
| Q1 25 | $128.7M | $216.4M | ||
| Q4 24 | $143.9M | $45.0M | ||
| Q3 24 | $87.6M | $-167.6M | ||
| Q2 24 | $108.5M | $-54.2M | ||
| Q1 24 | $128.1M | $166.3M |
| Q4 25 | — | 86.6% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 94.7% | ||
| Q1 25 | — | 81.6% | ||
| Q4 24 | — | 87.3% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 98.5% | ||
| Q1 24 | — | 81.0% |
| Q4 25 | — | 43.3% | ||
| Q3 25 | — | 40.6% | ||
| Q2 25 | — | 43.7% | ||
| Q1 25 | — | 43.2% | ||
| Q4 24 | — | 16.8% | ||
| Q3 24 | — | -63.4% | ||
| Q2 24 | — | -15.2% | ||
| Q1 24 | — | 44.9% |
| Q4 25 | 31.7% | 28.5% | ||
| Q3 25 | 24.4% | 24.2% | ||
| Q2 25 | 27.0% | 28.4% | ||
| Q1 25 | 28.0% | 29.4% | ||
| Q4 24 | 33.0% | 8.8% | ||
| Q3 24 | 19.7% | -54.1% | ||
| Q2 24 | 25.6% | -16.0% | ||
| Q1 24 | 30.2% | 29.8% |
| Q4 25 | $0.33 | $1.98 | ||
| Q3 25 | $0.27 | $1.18 | ||
| Q2 25 | $0.28 | $1.64 | ||
| Q1 25 | $0.30 | $2.37 | ||
| Q4 24 | $0.33 | $0.49 | ||
| Q3 24 | $0.20 | $-1.81 | ||
| Q2 24 | $0.25 | $-0.59 | ||
| Q1 24 | $0.30 | $1.80 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $108.5M | $271.4M |
| Total DebtLower is stronger | $5.1B | $2.7B |
| Stockholders' EquityBook value | $7.0B | $3.6B |
| Total Assets | $13.2B | $9.2B |
| Debt / EquityLower = less leverage | 0.72× | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.5M | $271.4M | ||
| Q3 25 | $45.6M | $43.2M | ||
| Q2 25 | $323.3M | $39.3M | ||
| Q1 25 | $69.7M | $40.0M | ||
| Q4 24 | $199.4M | $48.7M | ||
| Q3 24 | $162.5M | $38.2M | ||
| Q2 24 | $718.4M | $81.4M | ||
| Q1 24 | $124.8M | $50.8M |
| Q4 25 | $5.1B | $2.7B | ||
| Q3 25 | $4.8B | $2.7B | ||
| Q2 25 | $5.2B | $2.7B | ||
| Q1 25 | $4.9B | $2.7B | ||
| Q4 24 | $5.0B | $2.7B | ||
| Q3 24 | $4.5B | $2.7B | ||
| Q2 24 | $5.0B | $2.7B | ||
| Q1 24 | $4.5B | $2.4B |
| Q4 25 | $7.0B | $3.6B | ||
| Q3 25 | $7.2B | $3.1B | ||
| Q2 25 | $7.2B | $3.0B | ||
| Q1 25 | $7.2B | $2.8B | ||
| Q4 24 | $7.2B | $-76.2M | ||
| Q3 24 | $7.0B | $-15.5M | ||
| Q2 24 | $7.0B | $5.0M | ||
| Q1 24 | $7.0B | $75.3M |
| Q4 25 | $13.2B | $9.2B | ||
| Q3 25 | $13.3B | $8.7B | ||
| Q2 25 | $13.6B | $8.4B | ||
| Q1 25 | $13.3B | $8.5B | ||
| Q4 24 | $13.4B | $8.3B | ||
| Q3 24 | $12.8B | $8.3B | ||
| Q2 24 | $13.3B | $8.5B | ||
| Q1 24 | $12.8B | $8.7B |
| Q4 25 | 0.72× | 0.75× | ||
| Q3 25 | 0.68× | 0.87× | ||
| Q2 25 | 0.72× | 0.90× | ||
| Q1 25 | 0.69× | 0.99× | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.71× | 532.10× | ||
| Q1 24 | 0.64× | 31.68× |
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 | $864.3M | $274.9M |
| Free Cash FlowOCF − Capex | $823.7M | $-2.7M |
| FCF MarginFCF / Revenue | 181.0% | -0.4% |
| Capex IntensityCapex / Revenue | 8.9% | 43.5% |
| Cash ConversionOCF / Net Profit | 5.99× | 1.51× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $204.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $864.3M | $274.9M | ||
| Q3 25 | $223.3M | $237.8M | ||
| Q2 25 | $271.9M | $388.4M | ||
| Q1 25 | $223.4M | $253.8M | ||
| Q4 24 | $811.5M | $220.1M | ||
| Q3 24 | $233.6M | $197.9M | ||
| Q2 24 | $274.0M | $281.8M | ||
| Q1 24 | $201.8M | $315.3M |
| Q4 25 | $823.7M | $-2.7M | ||
| Q3 25 | $214.5M | $-47.8M | ||
| Q2 25 | $257.7M | $195.3M | ||
| Q1 25 | $215.9M | $59.9M | ||
| Q4 24 | $777.5M | $-20.3M | ||
| Q3 24 | $225.3M | $-49.1M | ||
| Q2 24 | $263.3M | $79.5M | ||
| Q1 24 | $191.0M | $80.3M |
| Q4 25 | 181.0% | -0.4% | ||
| Q3 25 | 44.8% | -10.8% | ||
| Q2 25 | 56.3% | 37.0% | ||
| Q1 25 | 47.0% | 8.2% | ||
| Q4 24 | 178.1% | -4.0% | ||
| Q3 24 | 50.6% | -15.8% | ||
| Q2 24 | 62.2% | 23.5% | ||
| Q1 24 | 45.1% | 14.4% |
| Q4 25 | 8.9% | 43.5% | ||
| Q3 25 | 1.8% | 64.4% | ||
| Q2 25 | 3.1% | 36.6% | ||
| Q1 25 | 1.6% | 26.4% | ||
| Q4 24 | 7.8% | 46.8% | ||
| Q3 24 | 1.9% | 79.7% | ||
| Q2 24 | 2.5% | 59.7% | ||
| Q1 24 | 2.6% | 42.1% |
| Q4 25 | 5.99× | 1.51× | ||
| Q3 25 | 1.91× | 2.21× | ||
| Q2 25 | 2.20× | 2.59× | ||
| Q1 25 | 1.74× | 1.17× | ||
| Q4 24 | 5.64× | 4.89× | ||
| Q3 24 | 2.67× | — | ||
| Q2 24 | 2.52× | — | ||
| Q1 24 | 1.58× | 1.90× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMH
Segment breakdown not available.
NFG
| Natural Gas Production | $302.5M | 47% |
| Natural Gas Residential Sales | $198.0M | 31% |
| Pipeline And Storage | $69.2M | 11% |
| Natural Gas Commercial Sales | $27.9M | 4% |
| Natural Gas Storage | $25.1M | 4% |
| Other | $4.1M | 1% |
| Natural Gas Midstream | $2.8M | 0% |
