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Side-by-side financial comparison of BELDEN INC. (BDC) and NORTHERN OIL & GAS, INC. (NOG). Click either name above to swap in a different company.
BELDEN INC. is the larger business by last-quarter revenue ($696.4M vs $610.2M, roughly 1.1× NORTHERN OIL & GAS, INC.). BELDEN INC. runs the higher net margin — 7.3% vs -11.6%, a 18.9% gap on every dollar of revenue. On growth, BELDEN INC. posted the faster year-over-year revenue change (11.4% vs -72.6%). NORTHERN OIL & GAS, INC. produced more free cash flow last quarter ($43.2M vs $-63.1M). Over the past eight quarters, BELDEN INC.'s revenue compounded faster (7.3% CAGR vs 4.3%).
Belden Inc. is an American, multinational, publicly traded company specializing in the design, manufacture, and distribution of end-to-end networking, security and connectivity products. The company serves the Industrial Automation Solutions, Smart Buildings and Broadband & 5G markets.
Marathon Oil Corporation was an American company engaged in hydrocarbon exploration. In November 2024, it was acquired by ConocoPhillips and absorbed into the company.
BDC vs NOG — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $696.4M | $610.2M |
| Net Profit | $51.0M | $-70.7M |
| Gross Margin | 37.1% | — |
| Operating Margin | 11.2% | — |
| Net Margin | 7.3% | -11.6% |
| Revenue YoY | 11.4% | -72.6% |
| Net Profit YoY | -1.8% | -198.7% |
| EPS (diluted) | $1.30 | $-0.73 |
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 | $696.4M | $610.2M | ||
| Q4 25 | $720.1M | $610.2M | ||
| Q3 25 | $698.2M | $556.6M | ||
| Q2 25 | $672.0M | $706.8M | ||
| Q1 25 | $624.9M | $602.1M | ||
| Q4 24 | $666.0M | $515.0M | ||
| Q3 24 | $654.9M | $753.6M | ||
| Q2 24 | $604.3M | $560.8M |
| Q1 26 | $51.0M | $-70.7M | ||
| Q4 25 | $67.9M | $-70.7M | ||
| Q3 25 | $56.7M | $-129.1M | ||
| Q2 25 | $61.0M | $99.6M | ||
| Q1 25 | $51.9M | $139.0M | ||
| Q4 24 | $58.4M | $71.7M | ||
| Q3 24 | $53.7M | $298.4M | ||
| Q2 24 | $49.0M | $138.6M |
| Q1 26 | 37.1% | — | ||
| Q4 25 | 36.6% | 80.4% | ||
| Q3 25 | 37.7% | 78.7% | ||
| Q2 25 | 38.5% | 82.8% | ||
| Q1 25 | 39.3% | 81.1% | ||
| Q4 24 | 37.5% | 77.4% | ||
| Q3 24 | 37.3% | 85.8% | ||
| Q2 24 | 37.5% | 82.0% |
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.2% | -5.5% | ||
| Q3 25 | 10.9% | -22.6% | ||
| Q2 25 | 11.8% | 24.9% | ||
| Q1 25 | 11.6% | 38.1% | ||
| Q4 24 | 10.4% | 25.8% | ||
| Q3 24 | 11.5% | 57.6% | ||
| Q2 24 | 11.4% | 39.0% |
| Q1 26 | 7.3% | -11.6% | ||
| Q4 25 | 9.4% | -11.6% | ||
| Q3 25 | 8.1% | -23.2% | ||
| Q2 25 | 9.1% | 14.1% | ||
| Q1 25 | 8.3% | 23.1% | ||
| Q4 24 | 8.8% | 13.9% | ||
| Q3 24 | 8.2% | 39.6% | ||
| Q2 24 | 8.1% | 24.7% |
| Q1 26 | $1.30 | $-0.73 | ||
| Q4 25 | $1.70 | $-0.67 | ||
| Q3 25 | $1.41 | $-1.33 | ||
| Q2 25 | $1.53 | $1.00 | ||
| Q1 25 | $1.27 | $1.39 | ||
| Q4 24 | $1.41 | $0.71 | ||
| Q3 24 | $1.30 | $2.96 | ||
| Q2 24 | $1.19 | $1.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $272.2M | $14.3M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $1.3B | $2.1B |
| Total Assets | — | $5.4B |
| Debt / EquityLower = less leverage | 0.98× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $272.2M | $14.3M | ||
| Q4 25 | $389.9M | $14.3M | ||
| Q3 25 | $314.3M | $31.6M | ||
| Q2 25 | $301.5M | $25.9M | ||
| Q1 25 | $259.0M | $33.6M | ||
| Q4 24 | $370.3M | $8.9M | ||
| Q3 24 | $323.0M | $34.4M | ||
| Q2 24 | $564.8M | $7.8M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $1.9B |
| Q1 26 | $1.3B | $2.1B | ||
| Q4 25 | $1.3B | $2.1B | ||
| Q3 25 | $1.2B | $2.2B | ||
| Q2 25 | $1.2B | $2.4B | ||
| Q1 25 | $1.2B | $2.4B | ||
| Q4 24 | $1.3B | $2.3B | ||
| Q3 24 | $1.2B | $2.3B | ||
| Q2 24 | $1.2B | $2.1B |
| Q1 26 | — | $5.4B | ||
| Q4 25 | $3.5B | $5.4B | ||
| Q3 25 | $3.4B | $5.5B | ||
| Q2 25 | $3.4B | $5.7B | ||
| Q1 25 | $3.3B | $5.7B | ||
| Q4 24 | $3.3B | $5.6B | ||
| Q3 24 | $3.3B | $5.1B | ||
| Q2 24 | $3.5B | $4.7B |
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | 1.13× | ||
| Q3 25 | — | 1.05× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 0.96× | ||
| Q4 24 | — | 1.02× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.91× |
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 | — | $312.6M |
| Free Cash FlowOCF − Capex | $-63.1M | $43.2M |
| FCF MarginFCF / Revenue | -9.1% | 7.1% |
| Capex IntensityCapex / Revenue | 6.4% | 31.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $180.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $312.6M | ||
| Q4 25 | $160.4M | $312.6M | ||
| Q3 25 | $105.0M | $423.1M | ||
| Q2 25 | $82.0M | $362.1M | ||
| Q1 25 | $7.4M | $407.4M | ||
| Q4 24 | $174.7M | $290.3M | ||
| Q3 24 | $91.7M | $385.8M | ||
| Q2 24 | $83.0M | $340.5M |
| Q1 26 | $-63.1M | $43.2M | ||
| Q4 25 | $121.3M | — | ||
| Q3 25 | $65.3M | — | ||
| Q2 25 | $56.9M | — | ||
| Q1 25 | $-24.8M | — | ||
| Q4 24 | $116.4M | — | ||
| Q3 24 | $67.2M | — | ||
| Q2 24 | $61.0M | — |
| Q1 26 | -9.1% | 7.1% | ||
| Q4 25 | 16.8% | — | ||
| Q3 25 | 9.4% | — | ||
| Q2 25 | 8.5% | — | ||
| Q1 25 | -4.0% | — | ||
| Q4 24 | 17.5% | — | ||
| Q3 24 | 10.3% | — | ||
| Q2 24 | 10.1% | — |
| Q1 26 | 6.4% | 31.5% | ||
| Q4 25 | 5.4% | — | ||
| Q3 25 | 5.7% | — | ||
| Q2 25 | 3.7% | — | ||
| Q1 25 | 5.2% | — | ||
| Q4 24 | 8.8% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 3.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | — | ||
| Q3 25 | 1.85× | — | ||
| Q2 25 | 1.34× | 3.64× | ||
| Q1 25 | 0.14× | 2.93× | ||
| Q4 24 | 2.99× | 4.05× | ||
| Q3 24 | 1.71× | 1.29× | ||
| Q2 24 | 1.69× | 2.46× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDC
Segment breakdown not available.
NOG
| Oil and Gas Sales | $447.7M | 73% |
| Gain on Commodity Derivatives, Net | $159.3M | 26% |
| Other Revenue | $3.1M | 1% |
