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Side-by-side financial comparison of ANI PHARMACEUTICALS INC (ANIP) 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 $247.1M, roughly 1.7× ANI PHARMACEUTICALS INC). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 11.1%, a 24.6% gap on every dollar of revenue. On growth, ANI PHARMACEUTICALS INC posted the faster year-over-year revenue change (29.6% vs 1.7%). Over the past eight quarters, ANI PHARMACEUTICALS INC's revenue compounded faster (34.1% CAGR vs 12.1%).
ANI Pharmaceuticals Inc is a U.S.-based specialty pharmaceutical firm that develops, manufactures and sells generic and branded prescription drugs. Its key segments cover dermatology, oncology, CNS therapies and anti-infectives, primarily serving U.S. healthcare providers, retail pharmacies and institutional medical clients.
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.
ANIP vs NFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $247.1M | $425.9M |
| Net Profit | $27.5M | $152.0M |
| Gross Margin | — | — |
| Operating Margin | 14.1% | 81.5% |
| Net Margin | 11.1% | 35.7% |
| Revenue YoY | 29.6% | 1.7% |
| Net Profit YoY | 367.5% | — |
| EPS (diluted) | $1.14 | $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 | $247.1M | $637.9M | ||
| Q3 25 | $227.8M | $443.1M | ||
| Q2 25 | $211.4M | $527.4M | ||
| Q1 25 | $197.1M | $734.8M | ||
| Q4 24 | $190.6M | $513.8M | ||
| Q3 24 | $148.3M | $310.0M | ||
| Q2 24 | $138.0M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | $27.5M | $181.6M | ||
| Q3 25 | $26.6M | $107.3M | ||
| Q2 25 | $8.5M | $149.8M | ||
| Q1 25 | $15.7M | $216.4M | ||
| Q4 24 | $-10.3M | $45.0M | ||
| Q3 24 | $-24.2M | $-167.6M | ||
| Q2 24 | $-2.3M | $-54.2M |
| Q1 26 | — | — | ||
| 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 26 | — | 81.5% | ||
| Q4 25 | 14.1% | 43.3% | ||
| Q3 25 | 15.9% | 40.6% | ||
| Q2 25 | 6.6% | 43.7% | ||
| Q1 25 | 13.3% | 43.2% | ||
| Q4 24 | -2.3% | 16.8% | ||
| Q3 24 | -13.8% | -63.4% | ||
| Q2 24 | 3.7% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | 11.1% | 28.5% | ||
| Q3 25 | 11.7% | 24.2% | ||
| Q2 25 | 4.0% | 28.4% | ||
| Q1 25 | 8.0% | 29.4% | ||
| Q4 24 | -5.4% | 8.8% | ||
| Q3 24 | -16.3% | -54.1% | ||
| Q2 24 | -1.7% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | $1.14 | $1.98 | ||
| Q3 25 | $1.13 | $1.18 | ||
| Q2 25 | $0.36 | $1.64 | ||
| Q1 25 | $0.69 | $2.37 | ||
| Q4 24 | $-0.45 | $0.49 | ||
| Q3 24 | $-1.27 | $-1.81 | ||
| Q2 24 | $-0.14 | $-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 | $285.6M | — |
| Total DebtLower is stronger | — | $300.0M |
| Stockholders' EquityBook value | $540.7M | — |
| Total Assets | $1.4B | $9.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $285.6M | $271.4M | ||
| Q3 25 | $262.6M | $43.2M | ||
| Q2 25 | $217.8M | $39.3M | ||
| Q1 25 | $149.8M | $40.0M | ||
| Q4 24 | $144.9M | $48.7M | ||
| Q3 24 | $145.0M | $38.2M | ||
| Q2 24 | $240.1M | $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 | $540.7M | $3.6B | ||
| Q3 25 | $505.8M | $3.1B | ||
| Q2 25 | $436.8M | $3.0B | ||
| Q1 25 | $418.6M | $2.8B | ||
| Q4 24 | $403.7M | $-76.2M | ||
| Q3 24 | $405.9M | $-15.5M | ||
| Q2 24 | $455.8M | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $1.4B | $9.2B | ||
| Q3 25 | $1.4B | $8.7B | ||
| Q2 25 | $1.3B | $8.4B | ||
| Q1 25 | $1.3B | $8.5B | ||
| Q4 24 | $1.3B | $8.3B | ||
| Q3 24 | $1.3B | $8.3B | ||
| Q2 24 | $920.8M | $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 | $30.4M | $657.3M |
| Free Cash FlowOCF − Capex | $29.1M | — |
| FCF MarginFCF / Revenue | 11.8% | — |
| Capex IntensityCapex / Revenue | 0.5% | 117.0% |
| Cash ConversionOCF / Net Profit | 1.10× | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $171.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | $30.4M | $274.9M | ||
| Q3 25 | $44.1M | $237.8M | ||
| Q2 25 | $75.8M | $388.4M | ||
| Q1 25 | $35.0M | $253.8M | ||
| Q4 24 | $15.9M | $220.1M | ||
| Q3 24 | $12.5M | $197.9M | ||
| Q2 24 | $17.4M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $29.1M | $-2.7M | ||
| Q3 25 | $38.0M | $-47.8M | ||
| Q2 25 | $71.8M | $195.3M | ||
| Q1 25 | $32.5M | $59.9M | ||
| Q4 24 | $13.5M | $-20.3M | ||
| Q3 24 | $7.7M | $-49.1M | ||
| Q2 24 | $13.0M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | 11.8% | -0.4% | ||
| Q3 25 | 16.7% | -10.8% | ||
| Q2 25 | 34.0% | 37.0% | ||
| Q1 25 | 16.5% | 8.2% | ||
| Q4 24 | 7.1% | -4.0% | ||
| Q3 24 | 5.2% | -15.8% | ||
| Q2 24 | 9.4% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 0.5% | 43.5% | ||
| Q3 25 | 2.7% | 64.4% | ||
| Q2 25 | 1.9% | 36.6% | ||
| Q1 25 | 1.3% | 26.4% | ||
| Q4 24 | 1.3% | 46.8% | ||
| Q3 24 | 3.2% | 79.7% | ||
| Q2 24 | 3.2% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | 1.10× | 1.51× | ||
| Q3 25 | 1.66× | 2.21× | ||
| Q2 25 | 8.87× | 2.59× | ||
| Q1 25 | 2.23× | 1.17× | ||
| Q4 24 | — | 4.89× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ANIP
| Sales Of Cortrophin Gel | $111.4M | 45% |
| Sales Of Generic Pharmaceutical Products | $100.8M | 41% |
| Sales Of ILUVIEN And YUTIQ | $19.8M | 8% |
| Sales Of Established Brands | $12.3M | 5% |
| Unapproved Products | $6.5M | 3% |
| Sales Of Royalties And Other Pharmaceutical Services | $2.7M | 1% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
