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Side-by-side financial comparison of CIVITAS RESOURCES, INC. (CIVI) and NATIONAL FUEL GAS CO (NFG). Click either name above to swap in a different company.
CIVITAS RESOURCES, INC. is the larger business by last-quarter revenue ($1.2B vs $425.9M, roughly 2.7× NATIONAL FUEL GAS CO). On growth, NATIONAL FUEL GAS CO posted the faster year-over-year revenue change (1.7% vs -8.2%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs 1.8%).
Civitas Resources, Inc. is a U.S.-based sustainable energy enterprise focused on the exploration, development, and production of oil, natural gas, and natural gas liquids. It primarily operates across the Denver-Julesburg Basin in Colorado, prioritizing low-emission, responsible energy production to meet diverse North American energy demand.
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.
CIVI vs NFG — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $425.9M |
| Net Profit | — | $152.0M |
| Gross Margin | — | — |
| Operating Margin | 20.0% | 81.5% |
| Net Margin | — | 35.7% |
| Revenue YoY | -8.2% | 1.7% |
| Net Profit YoY | — | — |
| EPS (diluted) | $1.99 | $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 | $1.2B | $443.1M | ||
| Q2 25 | $1.1B | $527.4M | ||
| Q1 25 | $1.2B | $734.8M | ||
| Q4 24 | $1.3B | $513.8M | ||
| Q3 24 | $1.3B | $310.0M | ||
| Q2 24 | $1.3B | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | — | $181.6M | ||
| Q3 25 | — | $107.3M | ||
| Q2 25 | — | $149.8M | ||
| Q1 25 | — | $216.4M | ||
| Q4 24 | — | $45.0M | ||
| Q3 24 | — | $-167.6M | ||
| Q2 24 | — | $-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 | — | 43.3% | ||
| Q3 25 | 20.0% | 40.6% | ||
| Q2 25 | 15.3% | 43.7% | ||
| Q1 25 | 20.7% | 43.2% | ||
| Q4 24 | 15.4% | 16.8% | ||
| Q3 24 | 30.6% | -63.4% | ||
| Q2 24 | 21.6% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | — | 28.5% | ||
| Q3 25 | — | 24.2% | ||
| Q2 25 | — | 28.4% | ||
| Q1 25 | — | 29.4% | ||
| Q4 24 | — | 8.8% | ||
| Q3 24 | — | -54.1% | ||
| Q2 24 | — | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | — | $1.98 | ||
| Q3 25 | $1.99 | $1.18 | ||
| Q2 25 | $1.34 | $1.64 | ||
| Q1 25 | $1.99 | $2.37 | ||
| Q4 24 | $1.56 | $0.49 | ||
| Q3 24 | $3.01 | $-1.81 | ||
| Q2 24 | $2.15 | $-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 | $56.0M | — |
| Total DebtLower is stronger | $5.1B | $300.0M |
| Stockholders' EquityBook value | $6.7B | — |
| Total Assets | $15.1B | $9.1B |
| Debt / EquityLower = less leverage | 0.77× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $271.4M | ||
| Q3 25 | $56.0M | $43.2M | ||
| Q2 25 | $69.0M | $39.3M | ||
| Q1 25 | $20.0M | $40.0M | ||
| Q4 24 | $76.0M | $48.7M | ||
| Q3 24 | $47.1M | $38.2M | ||
| Q2 24 | $91.9M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | $5.1B | $2.7B | ||
| Q2 25 | $5.4B | $2.7B | ||
| Q1 25 | $5.1B | $2.7B | ||
| Q4 24 | $4.5B | $2.7B | ||
| Q3 24 | $4.8B | $2.7B | ||
| Q2 24 | $4.9B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.6B | ||
| Q3 25 | $6.7B | $3.1B | ||
| Q2 25 | $6.8B | $3.0B | ||
| Q1 25 | $6.7B | $2.8B | ||
| Q4 24 | $6.6B | $-76.2M | ||
| Q3 24 | $6.7B | $-15.5M | ||
| Q2 24 | $6.6B | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | — | $9.2B | ||
| Q3 25 | $15.1B | $8.7B | ||
| Q2 25 | $15.4B | $8.4B | ||
| Q1 25 | $15.3B | $8.5B | ||
| Q4 24 | $14.9B | $8.3B | ||
| Q3 24 | $15.0B | $8.3B | ||
| Q2 24 | $15.0B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.75× | ||
| Q3 25 | 0.77× | 0.87× | ||
| Q2 25 | 0.79× | 0.90× | ||
| Q1 25 | 0.76× | 0.99× | ||
| Q4 24 | 0.68× | — | ||
| Q3 24 | 0.73× | — | ||
| Q2 24 | 0.74× | 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 | $860.0M | $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 | — | $274.9M | ||
| Q3 25 | $860.0M | $237.8M | ||
| Q2 25 | $298.0M | $388.4M | ||
| Q1 25 | $719.0M | $253.8M | ||
| Q4 24 | $858.2M | $220.1M | ||
| Q3 24 | $835.0M | $197.9M | ||
| Q2 24 | $359.0M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-2.7M | ||
| Q3 25 | — | $-47.8M | ||
| Q2 25 | — | $195.3M | ||
| Q1 25 | — | $59.9M | ||
| Q4 24 | — | $-20.3M | ||
| Q3 24 | — | $-49.1M | ||
| Q2 24 | — | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.4% | ||
| Q3 25 | — | -10.8% | ||
| Q2 25 | — | 37.0% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | -4.0% | ||
| Q3 24 | — | -15.8% | ||
| Q2 24 | — | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | 64.4% | ||
| Q2 25 | — | 36.6% | ||
| Q1 25 | — | 26.4% | ||
| Q4 24 | — | 46.8% | ||
| Q3 24 | — | 79.7% | ||
| Q2 24 | — | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | — | 1.51× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | — | 2.59× | ||
| Q1 25 | — | 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
CIVI
| Crude Oil Natural Gas And Natural Gas Liquids | $1.2B | 99% |
| Oil And Gas Operation And Maintenance | $8.0M | 1% |
| Natural Gas Reserves | $2.0M | 0% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
