vs
Side-by-side financial comparison of Axos Financial, Inc. (AX) 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 $392.2M, roughly 1.1× Axos Financial, Inc.). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 31.8%, a 3.9% gap on every dollar of revenue. Over the past eight quarters, Axos Financial, Inc.'s revenue compounded faster (16.1% CAGR vs 12.1%).
Axos Financial is an American bank holding company based in Las Vegas, Nevada and is the parent of Axos Bank, a direct bank. It also offers registered investment adviser services and an electronic trading platform.
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.
AX vs NFG — Head-to-Head
Income Statement — Q3 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $392.2M | $425.9M |
| Net Profit | $124.7M | $152.0M |
| Gross Margin | — | — |
| Operating Margin | — | 81.5% |
| Net Margin | 31.8% | 35.7% |
| Revenue YoY | — | 1.7% |
| Net Profit YoY | 18.5% | — |
| EPS (diluted) | $2.15 | $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 | $392.2M | $425.9M | ||
| Q4 25 | $385.1M | $637.9M | ||
| Q3 25 | $323.4M | $443.1M | ||
| Q2 25 | $321.4M | $527.4M | ||
| Q1 25 | $308.8M | $734.8M | ||
| Q4 24 | $307.9M | $513.8M | ||
| Q3 24 | $320.7M | $310.0M | ||
| Q2 24 | $290.9M | $338.6M |
| Q1 26 | $124.7M | $152.0M | ||
| Q4 25 | $128.4M | $181.6M | ||
| Q3 25 | $112.4M | $107.3M | ||
| Q2 25 | $110.7M | $149.8M | ||
| Q1 25 | $105.2M | $216.4M | ||
| Q4 24 | $104.7M | $45.0M | ||
| Q3 24 | $112.3M | $-167.6M | ||
| Q2 24 | $104.9M | $-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 | 45.6% | 43.3% | ||
| Q3 25 | 46.3% | 40.6% | ||
| Q2 25 | 48.5% | 43.7% | ||
| Q1 25 | 47.9% | 43.2% | ||
| Q4 24 | 48.8% | 16.8% | ||
| Q3 24 | 49.6% | -63.4% | ||
| Q2 24 | 49.6% | -15.2% |
| Q1 26 | 31.8% | 35.7% | ||
| Q4 25 | 33.3% | 28.5% | ||
| Q3 25 | 34.7% | 24.2% | ||
| Q2 25 | 34.4% | 28.4% | ||
| Q1 25 | 34.1% | 29.4% | ||
| Q4 24 | 34.0% | 8.8% | ||
| Q3 24 | 35.0% | -54.1% | ||
| Q2 24 | 36.0% | -16.0% |
| Q1 26 | $2.15 | $1.59 | ||
| Q4 25 | $2.22 | $1.98 | ||
| Q3 25 | $1.94 | $1.18 | ||
| Q2 25 | $1.89 | $1.64 | ||
| Q1 25 | $1.81 | $2.37 | ||
| Q4 24 | $1.80 | $0.49 | ||
| Q3 24 | $1.93 | $-1.81 | ||
| Q2 24 | $1.75 | $-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 | — | — |
| Total DebtLower is stronger | — | $300.0M |
| Stockholders' EquityBook value | $3.1B | — |
| Total Assets | $29.2B | $9.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $271.4M | ||
| Q3 25 | $2.6B | $43.2M | ||
| Q2 25 | $1.9B | $39.3M | ||
| Q1 25 | $2.0B | $40.0M | ||
| Q4 24 | $2.4B | $48.7M | ||
| Q3 24 | $2.6B | $38.2M | ||
| Q2 24 | $2.0B | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | $312.7M | $2.7B | ||
| Q1 25 | $377.4M | $2.7B | ||
| Q4 24 | $358.7M | $2.7B | ||
| Q3 24 | $313.5M | $2.7B | ||
| Q2 24 | $325.7M | $2.7B |
| Q1 26 | $3.1B | — | ||
| Q4 25 | $2.9B | $3.6B | ||
| Q3 25 | $2.8B | $3.1B | ||
| Q2 25 | $2.7B | $3.0B | ||
| Q1 25 | $2.6B | $2.8B | ||
| Q4 24 | $2.5B | $-76.2M | ||
| Q3 24 | $2.4B | $-15.5M | ||
| Q2 24 | $2.3B | $5.0M |
| Q1 26 | $29.2B | $9.1B | ||
| Q4 25 | $28.2B | $9.2B | ||
| Q3 25 | $27.4B | $8.7B | ||
| Q2 25 | $24.8B | $8.4B | ||
| Q1 25 | $24.0B | $8.5B | ||
| Q4 24 | $23.7B | $8.3B | ||
| Q3 24 | $23.6B | $8.3B | ||
| Q2 24 | $22.9B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | 0.12× | 0.90× | ||
| Q1 25 | 0.14× | 0.99× | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 0.13× | — | ||
| Q2 24 | 0.14× | 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 | — | $657.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 117.0% |
| Cash ConversionOCF / Net Profit | — | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | $104.1M | $274.9M | ||
| Q3 25 | $118.4M | $237.8M | ||
| Q2 25 | $490.3M | $388.4M | ||
| Q1 25 | $73.7M | $253.8M | ||
| Q4 24 | $162.5M | $220.1M | ||
| Q3 24 | $70.8M | $197.9M | ||
| Q2 24 | $305.5M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $85.4M | $-2.7M | ||
| Q3 25 | $109.3M | $-47.8M | ||
| Q2 25 | $436.1M | $195.3M | ||
| Q1 25 | $65.1M | $59.9M | ||
| Q4 24 | $156.4M | $-20.3M | ||
| Q3 24 | $53.0M | $-49.1M | ||
| Q2 24 | $269.5M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | 22.2% | -0.4% | ||
| Q3 25 | 33.8% | -10.8% | ||
| Q2 25 | 135.7% | 37.0% | ||
| Q1 25 | 21.1% | 8.2% | ||
| Q4 24 | 50.8% | -4.0% | ||
| Q3 24 | 16.5% | -15.8% | ||
| Q2 24 | 92.6% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 4.9% | 43.5% | ||
| Q3 25 | 2.8% | 64.4% | ||
| Q2 25 | 16.9% | 36.6% | ||
| Q1 25 | 2.8% | 26.4% | ||
| Q4 24 | 2.0% | 46.8% | ||
| Q3 24 | 5.5% | 79.7% | ||
| Q2 24 | 12.4% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | 0.81× | 1.51× | ||
| Q3 25 | 1.05× | 2.21× | ||
| Q2 25 | 4.43× | 2.59× | ||
| Q1 25 | 0.70× | 1.17× | ||
| Q4 24 | 1.55× | 4.89× | ||
| Q3 24 | 0.63× | — | ||
| Q2 24 | 2.91× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AX
| Net Interest Income | $306.3M | 78% |
| Noninterest Income | $86.0M | 22% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
