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Side-by-side financial comparison of COMERICA INC (CMA) and NATIONAL FUEL GAS CO (NFG). Click either name above to swap in a different company.
COMERICA INC is the larger business by last-quarter revenue ($838.0M vs $425.9M, roughly 2.0× NATIONAL FUEL GAS CO). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 21.0%, a 14.7% gap on every dollar of revenue. On growth, COMERICA INC posted the faster year-over-year revenue change (3.3% vs 1.7%). Over the past eight quarters, COMERICA INC's revenue compounded faster (108.9% CAGR vs 12.1%).
Comerica Incorporated is an American financial services company, headquartered in Dallas, Texas. It is the parent of Comerica Bank, a regional commercial bank with 413 branches in the U.S. states of Texas, Michigan, California, Florida and Arizona. Comerica is among the largest U.S. financial holding companies, with offices in a number of U.S. cities.
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.
CMA vs NFG — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $838.0M | $425.9M |
| Net Profit | $176.0M | $152.0M |
| Gross Margin | — | — |
| Operating Margin | — | 81.5% |
| Net Margin | 21.0% | 35.7% |
| Revenue YoY | 3.3% | 1.7% |
| Net Profit YoY | -4.3% | — |
| EPS (diluted) | $1.35 | $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 | $838.0M | $443.1M | ||
| Q2 25 | $849.0M | $527.4M | ||
| Q1 25 | $829.0M | $734.8M | ||
| Q4 24 | $825.0M | $513.8M | ||
| Q3 24 | $811.0M | $310.0M | ||
| Q2 24 | $824.0M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | — | $181.6M | ||
| Q3 25 | $176.0M | $107.3M | ||
| Q2 25 | $199.0M | $149.8M | ||
| Q1 25 | $172.0M | $216.4M | ||
| Q4 24 | $170.0M | $45.0M | ||
| Q3 24 | $184.0M | $-167.6M | ||
| Q2 24 | $206.0M | $-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 | — | 40.6% | ||
| Q2 25 | — | 43.7% | ||
| Q1 25 | — | 43.2% | ||
| Q4 24 | — | 16.8% | ||
| Q3 24 | — | -63.4% | ||
| Q2 24 | — | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | — | 28.5% | ||
| Q3 25 | 21.0% | 24.2% | ||
| Q2 25 | 23.4% | 28.4% | ||
| Q1 25 | 20.7% | 29.4% | ||
| Q4 24 | 20.6% | 8.8% | ||
| Q3 24 | 22.7% | -54.1% | ||
| Q2 24 | 25.0% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | — | $1.98 | ||
| Q3 25 | $1.35 | $1.18 | ||
| Q2 25 | $1.42 | $1.64 | ||
| Q1 25 | $1.25 | $2.37 | ||
| Q4 24 | $1.22 | $0.49 | ||
| Q3 24 | $1.33 | $-1.81 | ||
| Q2 24 | $1.49 | $-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 | — | — |
| Total DebtLower is stronger | $5.4B | $300.0M |
| Stockholders' EquityBook value | $7.4B | — |
| Total Assets | $77.4B | $9.1B |
| Debt / EquityLower = less leverage | 0.73× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $271.4M | ||
| Q3 25 | — | $43.2M | ||
| Q2 25 | — | $39.3M | ||
| Q1 25 | — | $40.0M | ||
| Q4 24 | — | $48.7M | ||
| Q3 24 | — | $38.2M | ||
| Q2 24 | — | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | $5.4B | $2.7B | ||
| Q2 25 | $5.8B | $2.7B | ||
| Q1 25 | $5.7B | $2.7B | ||
| Q4 24 | $6.7B | $2.7B | ||
| Q3 24 | $6.8B | $2.7B | ||
| Q2 24 | $7.1B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.6B | ||
| Q3 25 | $7.4B | $3.1B | ||
| Q2 25 | $6.9B | $3.0B | ||
| Q1 25 | $7.1B | $2.8B | ||
| Q4 24 | $6.5B | $-76.2M | ||
| Q3 24 | $7.4B | $-15.5M | ||
| Q2 24 | $6.2B | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | — | $9.2B | ||
| Q3 25 | $77.4B | $8.7B | ||
| Q2 25 | $78.0B | $8.4B | ||
| Q1 25 | $77.6B | $8.5B | ||
| Q4 24 | $79.3B | $8.3B | ||
| Q3 24 | $79.7B | $8.3B | ||
| Q2 24 | $79.6B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.75× | ||
| Q3 25 | 0.73× | 0.87× | ||
| Q2 25 | 0.84× | 0.90× | ||
| Q1 25 | 0.81× | 0.99× | ||
| Q4 24 | 1.02× | — | ||
| Q3 24 | 0.92× | — | ||
| Q2 24 | 1.15× | 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 | $-270.0M | $657.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 117.0% |
| Cash ConversionOCF / Net Profit | -1.53× | 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 | $-270.0M | $237.8M | ||
| Q2 25 | $476.0M | $388.4M | ||
| Q1 25 | $273.0M | $253.8M | ||
| Q4 24 | $601.0M | $220.1M | ||
| Q3 24 | $1.0B | $197.9M | ||
| Q2 24 | $111.0M | $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 | -1.53× | 2.21× | ||
| Q2 25 | 2.39× | 2.59× | ||
| Q1 25 | 1.59× | 1.17× | ||
| Q4 24 | 3.54× | 4.89× | ||
| Q3 24 | 5.70× | — | ||
| Q2 24 | 0.54× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CMA
Segment breakdown not available.
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
