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Side-by-side financial comparison of B&G Foods, Inc. (BGS) and NATIONAL FUEL GAS CO (NFG). Click either name above to swap in a different company.
B&G Foods, Inc. is the larger business by last-quarter revenue ($439.3M vs $425.9M, roughly 1.0× NATIONAL FUEL GAS CO). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs -4.4%, a 40.1% gap on every dollar of revenue. On growth, NATIONAL FUEL GAS CO posted the faster year-over-year revenue change (1.7% vs -4.7%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs -12.8%).
B&G Foods, Inc. is an American branded foods holding company based in Parsippany, New Jersey. The company was formed in 1996 to acquire Bloch & Guggenheimer, a Manhattan-based producer of pickles, relish and condiments which had been founded in 1889.
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.
BGS vs NFG — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $439.3M | $425.9M |
| Net Profit | $-19.1M | $152.0M |
| Gross Margin | 22.5% | — |
| Operating Margin | 2.5% | 81.5% |
| Net Margin | -4.4% | 35.7% |
| Revenue YoY | -4.7% | 1.7% |
| Net Profit YoY | -356.5% | — |
| EPS (diluted) | $-0.24 | $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 | — | $637.9M | ||
| Q3 25 | $439.3M | $443.1M | ||
| Q2 25 | $424.4M | $527.4M | ||
| Q1 25 | $425.4M | $734.8M | ||
| Q4 24 | $551.6M | $513.8M | ||
| Q3 24 | $461.1M | $310.0M | ||
| Q2 24 | $444.6M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | — | $181.6M | ||
| Q3 25 | $-19.1M | $107.3M | ||
| Q2 25 | $-9.8M | $149.8M | ||
| Q1 25 | $835.0K | $216.4M | ||
| Q4 24 | $-222.4M | $45.0M | ||
| Q3 24 | $7.5M | $-167.6M | ||
| Q2 24 | $3.9M | $-54.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 86.6% | ||
| Q3 25 | 22.5% | — | ||
| Q2 25 | 20.5% | 94.7% | ||
| Q1 25 | 21.2% | 81.6% | ||
| Q4 24 | 21.5% | 87.3% | ||
| Q3 24 | 22.2% | — | ||
| Q2 24 | 20.7% | 98.5% |
| Q1 26 | — | 81.5% | ||
| Q4 25 | — | 43.3% | ||
| Q3 25 | 2.5% | 40.6% | ||
| Q2 25 | 5.2% | 43.7% | ||
| Q1 25 | 8.4% | 43.2% | ||
| Q4 24 | -46.6% | 16.8% | ||
| Q3 24 | 11.1% | -63.4% | ||
| Q2 24 | 9.9% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | — | 28.5% | ||
| Q3 25 | -4.4% | 24.2% | ||
| Q2 25 | -2.3% | 28.4% | ||
| Q1 25 | 0.2% | 29.4% | ||
| Q4 24 | -40.3% | 8.8% | ||
| Q3 24 | 1.6% | -54.1% | ||
| Q2 24 | 0.9% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | — | $1.98 | ||
| Q3 25 | $-0.24 | $1.18 | ||
| Q2 25 | $-0.12 | $1.64 | ||
| Q1 25 | $0.01 | $2.37 | ||
| Q4 24 | $-2.81 | $0.49 | ||
| Q3 24 | $0.09 | $-1.81 | ||
| Q2 24 | $0.05 | $-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 | $60.9M | — |
| Total DebtLower is stronger | $2.0B | $300.0M |
| Stockholders' EquityBook value | $470.7M | — |
| Total Assets | $2.9B | $9.1B |
| Debt / EquityLower = less leverage | 4.30× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $271.4M | ||
| Q3 25 | $60.9M | $43.2M | ||
| Q2 25 | $54.1M | $39.3M | ||
| Q1 25 | $61.2M | $40.0M | ||
| Q4 24 | $50.6M | $48.7M | ||
| Q3 24 | $54.7M | $38.2M | ||
| Q2 24 | $40.3M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | $2.0B | $2.7B | ||
| Q2 25 | $2.0B | $2.7B | ||
| Q1 25 | $2.0B | $2.7B | ||
| Q4 24 | $2.0B | $2.7B | ||
| Q3 24 | $2.1B | $2.7B | ||
| Q2 24 | $2.0B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.6B | ||
| Q3 25 | $470.7M | $3.1B | ||
| Q2 25 | $501.4M | $3.0B | ||
| Q1 25 | $513.1M | $2.8B | ||
| Q4 24 | $524.8M | $-76.2M | ||
| Q3 24 | $755.3M | $-15.5M | ||
| Q2 24 | $765.0M | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | — | $9.2B | ||
| Q3 25 | $2.9B | $8.7B | ||
| Q2 25 | $2.9B | $8.4B | ||
| Q1 25 | $3.0B | $8.5B | ||
| Q4 24 | $3.0B | $8.3B | ||
| Q3 24 | $3.4B | $8.3B | ||
| Q2 24 | $3.4B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.75× | ||
| Q3 25 | 4.30× | 0.87× | ||
| Q2 25 | 3.97× | 0.90× | ||
| Q1 25 | 3.91× | 0.99× | ||
| Q4 24 | 3.85× | — | ||
| Q3 24 | 2.75× | — | ||
| Q2 24 | 2.67× | 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 | $-64.6M | $657.3M |
| Free Cash FlowOCF − Capex | $-70.7M | — |
| FCF MarginFCF / Revenue | -16.1% | — |
| Capex IntensityCapex / Revenue | 1.4% | 117.0% |
| Cash ConversionOCF / Net Profit | — | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $54.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | — | $274.9M | ||
| Q3 25 | $-64.6M | $237.8M | ||
| Q2 25 | $17.8M | $388.4M | ||
| Q1 25 | $52.7M | $253.8M | ||
| Q4 24 | $80.3M | $220.1M | ||
| Q3 24 | $4.2M | $197.9M | ||
| Q2 24 | $11.3M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-2.7M | ||
| Q3 25 | $-70.7M | $-47.8M | ||
| Q2 25 | $11.5M | $195.3M | ||
| Q1 25 | $42.4M | $59.9M | ||
| Q4 24 | $71.7M | $-20.3M | ||
| Q3 24 | $-679.0K | $-49.1M | ||
| Q2 24 | $5.2M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.4% | ||
| Q3 25 | -16.1% | -10.8% | ||
| Q2 25 | 2.7% | 37.0% | ||
| Q1 25 | 10.0% | 8.2% | ||
| Q4 24 | 13.0% | -4.0% | ||
| Q3 24 | -0.1% | -15.8% | ||
| Q2 24 | 1.2% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | 1.4% | 64.4% | ||
| Q2 25 | 1.5% | 36.6% | ||
| Q1 25 | 2.4% | 26.4% | ||
| Q4 24 | 1.6% | 46.8% | ||
| Q3 24 | 1.0% | 79.7% | ||
| Q2 24 | 1.4% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | — | 1.51× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | — | 2.59× | ||
| Q1 25 | 63.17× | 1.17× | ||
| Q4 24 | — | 4.89× | ||
| Q3 24 | 0.56× | — | ||
| Q2 24 | 2.87× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BGS
| Specialty Segment | $150.5M | 34% |
| Meals Segment | $110.0M | 25% |
| Spices And Flavor Solutions Segment | $101.4M | 23% |
| Frozen And Vegetables Segment | $77.4M | 18% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
