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Side-by-side financial comparison of CLOVER HEALTH INVESTMENTS, CORP. (CLOV) 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 ($637.9M vs $487.7M, roughly 1.3× CLOVER HEALTH INVESTMENTS, CORP.). NATIONAL FUEL GAS CO runs the higher net margin — 28.5% vs -10.1%, a 38.6% gap on every dollar of revenue. On growth, CLOVER HEALTH INVESTMENTS, CORP. posted the faster year-over-year revenue change (44.7% vs 24.1%). NATIONAL FUEL GAS CO produced more free cash flow last quarter ($-2.7M vs $-69.0M). Over the past eight quarters, CLOVER HEALTH INVESTMENTS, CORP.'s revenue compounded faster (18.6% CAGR vs 6.9%).
Clover Health Investments, Corp. is an American health care company founded in 2014. The company provides Medicare Advantage (MA) insurance plans and operates as a direct contracting entity with the U.S. government. The company manages care for Medicare beneficiaries in 11 states and started trading publicly on January 8, 2021.
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.
CLOV vs NFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $487.7M | $637.9M |
| Net Profit | $-49.3M | $181.6M |
| Gross Margin | — | 86.6% |
| Operating Margin | -10.1% | 43.3% |
| Net Margin | -10.1% | 28.5% |
| Revenue YoY | 44.7% | 24.1% |
| Net Profit YoY | -123.2% | 303.8% |
| EPS (diluted) | — | $1.98 |
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.
| Q4 25 | $487.7M | $637.9M | ||
| Q3 25 | $496.6M | $443.1M | ||
| Q2 25 | $477.6M | $527.4M | ||
| Q1 25 | $462.3M | $734.8M | ||
| Q4 24 | $337.0M | $513.8M | ||
| Q3 24 | $331.0M | $310.0M | ||
| Q2 24 | $356.3M | $338.6M | ||
| Q1 24 | $346.9M | $558.7M |
| Q4 25 | $-49.3M | $181.6M | ||
| Q3 25 | $-24.4M | $107.3M | ||
| Q2 25 | $-10.6M | $149.8M | ||
| Q1 25 | $-1.3M | $216.4M | ||
| Q4 24 | $-22.1M | $45.0M | ||
| Q3 24 | $-9.2M | $-167.6M | ||
| Q2 24 | $7.4M | $-54.2M | ||
| Q1 24 | $-19.2M | $166.3M |
| Q4 25 | — | 86.6% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 94.7% | ||
| Q1 25 | — | 81.6% | ||
| Q4 24 | — | 87.3% | ||
| Q3 24 | 24.5% | — | ||
| Q2 24 | 30.3% | 98.5% | ||
| Q1 24 | 23.6% | 81.0% |
| Q4 25 | -10.1% | 43.3% | ||
| Q3 25 | -4.9% | 40.6% | ||
| Q2 25 | -2.2% | 43.7% | ||
| Q1 25 | -0.3% | 43.2% | ||
| Q4 24 | -6.4% | 16.8% | ||
| Q3 24 | -2.7% | -63.4% | ||
| Q2 24 | 2.0% | -15.2% | ||
| Q1 24 | -6.5% | 44.9% |
| Q4 25 | -10.1% | 28.5% | ||
| Q3 25 | -4.9% | 24.2% | ||
| Q2 25 | -2.2% | 28.4% | ||
| Q1 25 | -0.3% | 29.4% | ||
| Q4 24 | -6.6% | 8.8% | ||
| Q3 24 | -2.8% | -54.1% | ||
| Q2 24 | 2.1% | -16.0% | ||
| Q1 24 | -5.5% | 29.8% |
| Q4 25 | — | $1.98 | ||
| Q3 25 | — | $1.18 | ||
| Q2 25 | — | $1.64 | ||
| Q1 25 | — | $2.37 | ||
| Q4 24 | — | $0.49 | ||
| Q3 24 | — | $-1.81 | ||
| Q2 24 | — | $-0.59 | ||
| Q1 24 | — | $1.80 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $78.3M | $271.4M |
| Total DebtLower is stronger | — | $2.7B |
| Stockholders' EquityBook value | $308.7M | $3.6B |
| Total Assets | $541.0M | $9.2B |
| Debt / EquityLower = less leverage | — | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.3M | $271.4M | ||
| Q3 25 | — | $43.2M | ||
| Q2 25 | — | $39.3M | ||
| Q1 25 | — | $40.0M | ||
| Q4 24 | $194.5M | $48.7M | ||
| Q3 24 | $288.0M | $38.2M | ||
| Q2 24 | $254.8M | $81.4M | ||
| Q1 24 | $208.3M | $50.8M |
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.4B |
| Q4 25 | $308.7M | $3.6B | ||
| Q3 25 | $340.9M | $3.1B | ||
| Q2 25 | $344.2M | $3.0B | ||
| Q1 25 | $336.1M | $2.8B | ||
| Q4 24 | $341.1M | $-76.2M | ||
| Q3 24 | $342.2M | $-15.5M | ||
| Q2 24 | $324.9M | $5.0M | ||
| Q1 24 | $292.5M | $75.3M |
| Q4 25 | $541.0M | $9.2B | ||
| Q3 25 | $559.7M | $8.7B | ||
| Q2 25 | $575.0M | $8.4B | ||
| Q1 25 | $583.7M | $8.5B | ||
| Q4 24 | $580.7M | $8.3B | ||
| Q3 24 | $653.0M | $8.3B | ||
| Q2 24 | $674.2M | $8.5B | ||
| Q1 24 | $671.8M | $8.7B |
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 532.10× | ||
| Q1 24 | — | 31.68× |
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 | $-66.9M | $274.9M |
| Free Cash FlowOCF − Capex | $-69.0M | $-2.7M |
| FCF MarginFCF / Revenue | -14.1% | -0.4% |
| Capex IntensityCapex / Revenue | 0.4% | 43.5% |
| Cash ConversionOCF / Net Profit | — | 1.51× |
| TTM Free Cash FlowTrailing 4 quarters | $-69.2M | $204.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-66.9M | $274.9M | ||
| Q3 25 | $12.1M | $237.8M | ||
| Q2 25 | $5.4M | $388.4M | ||
| Q1 25 | $-16.3M | $253.8M | ||
| Q4 24 | $34.8M | $220.1M | ||
| Q3 24 | $50.0M | $197.9M | ||
| Q2 24 | $44.8M | $281.8M | ||
| Q1 24 | $25.9M | $315.3M |
| Q4 25 | $-69.0M | $-2.7M | ||
| Q3 25 | $11.4M | $-47.8M | ||
| Q2 25 | $4.8M | $195.3M | ||
| Q1 25 | $-16.5M | $59.9M | ||
| Q4 24 | $33.3M | $-20.3M | ||
| Q3 24 | $49.6M | $-49.1M | ||
| Q2 24 | $44.4M | $79.5M | ||
| Q1 24 | $25.5M | $80.3M |
| Q4 25 | -14.1% | -0.4% | ||
| Q3 25 | 2.3% | -10.8% | ||
| Q2 25 | 1.0% | 37.0% | ||
| Q1 25 | -3.6% | 8.2% | ||
| Q4 24 | 9.9% | -4.0% | ||
| Q3 24 | 15.0% | -15.8% | ||
| Q2 24 | 12.5% | 23.5% | ||
| Q1 24 | 7.3% | 14.4% |
| Q4 25 | 0.4% | 43.5% | ||
| Q3 25 | 0.1% | 64.4% | ||
| Q2 25 | 0.1% | 36.6% | ||
| Q1 25 | 0.0% | 26.4% | ||
| Q4 24 | 0.5% | 46.8% | ||
| Q3 24 | 0.1% | 79.7% | ||
| Q2 24 | 0.1% | 59.7% | ||
| Q1 24 | 0.1% | 42.1% |
| Q4 25 | — | 1.51× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | — | 2.59× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | — | 4.89× | ||
| Q3 24 | — | — | ||
| Q2 24 | 6.04× | — | ||
| Q1 24 | — | 1.90× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLOV
Segment breakdown not available.
NFG
| Natural Gas Production | $302.5M | 47% |
| Natural Gas Residential Sales | $198.0M | 31% |
| Pipeline And Storage | $69.2M | 11% |
| Natural Gas Commercial Sales | $27.9M | 4% |
| Natural Gas Storage | $25.1M | 4% |
| Other | $4.1M | 1% |
| Natural Gas Midstream | $2.8M | 0% |
