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Side-by-side financial comparison of Barnes & Noble Education, Inc. (BNED) and NATIONAL FUEL GAS CO (NFG). Click either name above to swap in a different company.
Barnes & Noble Education, Inc. is the larger business by last-quarter revenue ($598.2M vs $425.9M, roughly 1.4× NATIONAL FUEL GAS CO). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 4.2%, a 31.5% gap on every dollar of revenue. On growth, Barnes & Noble Education, Inc. posted the faster year-over-year revenue change (6.9% vs 1.7%). Over the past eight quarters, Barnes & Noble Education, Inc.'s revenue compounded faster (20.0% CAGR vs 12.1%).
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 700+ retail stores across the United States.
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.
BNED vs NFG — Head-to-Head
Income Statement — Q2 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $598.2M | $425.9M |
| Net Profit | $25.0M | $152.0M |
| Gross Margin | 21.7% | — |
| Operating Margin | 6.8% | 81.5% |
| Net Margin | 4.2% | 35.7% |
| Revenue YoY | 6.9% | 1.7% |
| Net Profit YoY | -49.7% | — |
| EPS (diluted) | $0.72 | $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 | $598.2M | $637.9M | ||
| Q3 25 | $274.2M | $443.1M | ||
| Q2 25 | $233.0M | $527.4M | ||
| Q1 25 | $419.7M | $734.8M | ||
| Q4 24 | $559.7M | $513.8M | ||
| Q3 24 | $250.9M | $310.0M | ||
| Q2 24 | $192.7M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | $25.0M | $181.6M | ||
| Q3 25 | $-18.3M | $107.3M | ||
| Q2 25 | $-23.0M | $149.8M | ||
| Q1 25 | $17.9M | $216.4M | ||
| Q4 24 | $43.2M | $45.0M | ||
| Q3 24 | $-103.9M | $-167.6M | ||
| Q2 24 | $-41.9M | $-54.2M |
| Q1 26 | — | — | ||
| Q4 25 | 21.7% | 86.6% | ||
| Q3 25 | 20.2% | — | ||
| Q2 25 | 30.3% | 94.7% | ||
| Q1 25 | 22.3% | 81.6% | ||
| Q4 24 | 23.0% | 87.3% | ||
| Q3 24 | 17.9% | — | ||
| Q2 24 | 28.7% | 98.5% |
| Q1 26 | — | 81.5% | ||
| Q4 25 | 6.8% | 43.3% | ||
| Q3 25 | -8.4% | 40.6% | ||
| Q2 25 | -4.9% | 43.7% | ||
| Q1 25 | 4.5% | 43.2% | ||
| Q4 24 | 8.4% | 16.8% | ||
| Q3 24 | -15.4% | -63.4% | ||
| Q2 24 | -16.3% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | 4.2% | 28.5% | ||
| Q3 25 | -6.7% | 24.2% | ||
| Q2 25 | -9.9% | 28.4% | ||
| Q1 25 | 4.3% | 29.4% | ||
| Q4 24 | 7.7% | 8.8% | ||
| Q3 24 | -41.4% | -54.1% | ||
| Q2 24 | -21.7% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | $0.72 | $1.98 | ||
| Q3 25 | $-0.54 | $1.18 | ||
| Q2 25 | $2.97 | $1.64 | ||
| Q1 25 | $0.59 | $2.37 | ||
| Q4 24 | $1.63 | $0.49 | ||
| Q3 24 | $-7.69 | $-1.81 | ||
| Q2 24 | $-15.68 | $-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 | $11.7M | — |
| Total DebtLower is stronger | $122.5M | $300.0M |
| Stockholders' EquityBook value | $283.2M | — |
| Total Assets | $1.1B | $9.1B |
| Debt / EquityLower = less leverage | 0.43× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $11.7M | $271.4M | ||
| Q3 25 | $7.3M | $43.2M | ||
| Q2 25 | $9.1M | $39.3M | ||
| Q1 25 | $9.2M | $40.0M | ||
| Q4 24 | $11.6M | $48.7M | ||
| Q3 24 | $8.2M | $38.2M | ||
| Q2 24 | $10.5M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | $122.5M | $2.7B | ||
| Q3 25 | $170.0M | $2.7B | ||
| Q2 25 | $103.1M | $2.7B | ||
| Q1 25 | $141.2M | $2.7B | ||
| Q4 24 | $177.6M | $2.7B | ||
| Q3 24 | $221.9M | $2.7B | ||
| Q2 24 | $196.3M | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | $283.2M | $3.6B | ||
| Q3 25 | $256.5M | $3.1B | ||
| Q2 25 | $272.2M | $3.0B | ||
| Q1 25 | $292.9M | $2.8B | ||
| Q4 24 | $211.4M | $-76.2M | ||
| Q3 24 | $149.8M | $-15.5M | ||
| Q2 24 | $80.4M | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $1.1B | $9.2B | ||
| Q3 25 | $950.8M | $8.7B | ||
| Q2 25 | $790.3M | $8.4B | ||
| Q1 25 | $1.1B | $8.5B | ||
| Q4 24 | $1.0B | $8.3B | ||
| Q3 24 | $973.2M | $8.3B | ||
| Q2 24 | $909.9M | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.43× | 0.75× | ||
| Q3 25 | 0.66× | 0.87× | ||
| Q2 25 | 0.38× | 0.90× | ||
| Q1 25 | 0.48× | 0.99× | ||
| Q4 24 | 0.84× | — | ||
| Q3 24 | 1.48× | — | ||
| Q2 24 | 2.44× | 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 | $66.2M | $657.3M |
| Free Cash FlowOCF − Capex | $61.9M | — |
| FCF MarginFCF / Revenue | 10.4% | — |
| Capex IntensityCapex / Revenue | 0.7% | 117.0% |
| Cash ConversionOCF / Net Profit | 2.65× | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $-4.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | $66.2M | $274.9M | ||
| Q3 25 | $-67.6M | $237.8M | ||
| Q2 25 | $52.6M | $388.4M | ||
| Q1 25 | $-41.9M | $253.8M | ||
| Q4 24 | $47.4M | $220.1M | ||
| Q3 24 | $-143.5M | $197.9M | ||
| Q2 24 | $81.7M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $61.9M | $-2.7M | ||
| Q3 25 | $-71.3M | $-47.8M | ||
| Q2 25 | $49.5M | $195.3M | ||
| Q1 25 | $-44.7M | $59.9M | ||
| Q4 24 | $44.4M | $-20.3M | ||
| Q3 24 | $-147.5M | $-49.1M | ||
| Q2 24 | $79.1M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | 10.4% | -0.4% | ||
| Q3 25 | -26.0% | -10.8% | ||
| Q2 25 | 21.3% | 37.0% | ||
| Q1 25 | -10.7% | 8.2% | ||
| Q4 24 | 7.9% | -4.0% | ||
| Q3 24 | -58.8% | -15.8% | ||
| Q2 24 | 41.1% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 0.7% | 43.5% | ||
| Q3 25 | 1.4% | 64.4% | ||
| Q2 25 | 1.3% | 36.6% | ||
| Q1 25 | 0.7% | 26.4% | ||
| Q4 24 | 0.5% | 46.8% | ||
| Q3 24 | 1.6% | 79.7% | ||
| Q2 24 | 1.4% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | 2.65× | 1.51× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | — | 2.59× | ||
| Q1 25 | -2.34× | 1.17× | ||
| Q4 24 | 1.10× | 4.89× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BNED
| Course Materials Product | $459.3M | 77% |
| General Merchandise Product | $112.9M | 19% |
| Serviceand Other | $26.1M | 4% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
