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Side-by-side financial comparison of Core Natural Resources, Inc. (CNR) and NATIONAL FUEL GAS CO (NFG). Click either name above to swap in a different company.
Core Natural Resources, Inc. is the larger business by last-quarter revenue ($1.0B vs $637.9M, roughly 1.6× NATIONAL FUEL GAS CO). NATIONAL FUEL GAS CO runs the higher net margin — 28.5% vs -7.6%, a 36.1% gap on every dollar of revenue. On growth, Core Natural Resources, Inc. posted the faster year-over-year revenue change (81.8% vs 24.1%). Core Natural Resources, Inc. produced more free cash flow last quarter ($26.0M vs $-2.7M). Over the past eight quarters, Core Natural Resources, Inc.'s revenue compounded faster (38.1% CAGR vs 6.9%).
Arch Resources, previously known as Arch Coal, was an American coal mining and processing company. The company mined, processed, and marketed bituminous and sub-bituminous coal with low sulfur content in the United States. Arch Resources was the second-largest supplier of coal in the United States, behind Peabody Energy. As of 2011 the company supplied 15% of the domestic market. Demand came mainly from generators of electricity.
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.
CNR vs NFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $637.9M |
| Net Profit | $-79.0M | $181.6M |
| Gross Margin | — | 86.6% |
| Operating Margin | -9.3% | 43.3% |
| Net Margin | -7.6% | 28.5% |
| Revenue YoY | 81.8% | 24.1% |
| Net Profit YoY | -356.3% | 303.8% |
| EPS (diluted) | $-1.51 | $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 | $1.0B | $637.9M | ||
| Q3 25 | $1.0B | $443.1M | ||
| Q2 25 | $1.1B | $527.4M | ||
| Q1 25 | $1.0B | $734.8M | ||
| Q4 24 | $573.6M | $513.8M | ||
| Q3 24 | $553.4M | $310.0M | ||
| Q2 24 | $490.7M | $338.6M | ||
| Q1 24 | $546.7M | $558.7M |
| Q4 25 | $-79.0M | $181.6M | ||
| Q3 25 | $31.6M | $107.3M | ||
| Q2 25 | $-36.6M | $149.8M | ||
| Q1 25 | $-69.3M | $216.4M | ||
| Q4 24 | $30.8M | $45.0M | ||
| Q3 24 | $95.6M | $-167.6M | ||
| Q2 24 | $58.1M | $-54.2M | ||
| Q1 24 | $101.9M | $166.3M |
| 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 24 | — | 81.0% |
| Q4 25 | -9.3% | 43.3% | ||
| Q3 25 | -1.2% | 40.6% | ||
| Q2 25 | -1.7% | 43.7% | ||
| Q1 25 | -5.3% | 43.2% | ||
| Q4 24 | 6.6% | 16.8% | ||
| Q3 24 | 21.2% | -63.4% | ||
| Q2 24 | 14.6% | -15.2% | ||
| Q1 24 | 22.7% | 44.9% |
| Q4 25 | -7.6% | 28.5% | ||
| Q3 25 | 3.2% | 24.2% | ||
| Q2 25 | -3.3% | 28.4% | ||
| Q1 25 | -6.8% | 29.4% | ||
| Q4 24 | 5.4% | 8.8% | ||
| Q3 24 | 17.3% | -54.1% | ||
| Q2 24 | 11.8% | -16.0% | ||
| Q1 24 | 18.6% | 29.8% |
| Q4 25 | $-1.51 | $1.98 | ||
| Q3 25 | $0.61 | $1.18 | ||
| Q2 25 | $-0.70 | $1.64 | ||
| Q1 25 | $-1.38 | $2.37 | ||
| Q4 24 | $1.04 | $0.49 | ||
| Q3 24 | $3.22 | $-1.81 | ||
| Q2 24 | $1.96 | $-0.59 | ||
| Q1 24 | $3.39 | $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 | $432.2M | $271.4M |
| Total DebtLower is stronger | $354.2M | $2.7B |
| Stockholders' EquityBook value | $3.7B | $3.6B |
| Total Assets | $6.1B | $9.2B |
| Debt / EquityLower = less leverage | 0.10× | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $432.2M | $271.4M | ||
| Q3 25 | $444.7M | $43.2M | ||
| Q2 25 | $413.2M | $39.3M | ||
| Q1 25 | $388.5M | $40.0M | ||
| Q4 24 | $460.2M | $48.7M | ||
| Q3 24 | $331.7M | $38.2M | ||
| Q2 24 | $216.1M | $81.4M | ||
| Q1 24 | $172.6M | $50.8M |
| Q4 25 | $354.2M | $2.7B | ||
| Q3 25 | $334.5M | $2.7B | ||
| Q2 25 | $334.0M | $2.7B | ||
| Q1 25 | $329.8M | $2.7B | ||
| Q4 24 | $94.8M | $2.7B | ||
| Q3 24 | $83.7M | $2.7B | ||
| Q2 24 | $184.9M | $2.7B | ||
| Q1 24 | $185.5M | $2.4B |
| Q4 25 | $3.7B | $3.6B | ||
| Q3 25 | $3.8B | $3.1B | ||
| Q2 25 | $3.8B | $3.0B | ||
| Q1 25 | $3.9B | $2.8B | ||
| Q4 24 | $1.6B | $-76.2M | ||
| Q3 24 | $1.5B | $-15.5M | ||
| Q2 24 | $1.4B | $5.0M | ||
| Q1 24 | $1.4B | $75.3M |
| Q4 25 | $6.1B | $9.2B | ||
| Q3 25 | $6.2B | $8.7B | ||
| Q2 25 | $6.2B | $8.4B | ||
| Q1 25 | $6.3B | $8.5B | ||
| Q4 24 | $2.9B | $8.3B | ||
| Q3 24 | $2.8B | $8.3B | ||
| Q2 24 | $2.7B | $8.5B | ||
| Q1 24 | $2.7B | $8.7B |
| Q4 25 | 0.10× | 0.75× | ||
| Q3 25 | 0.09× | 0.87× | ||
| Q2 25 | 0.09× | 0.90× | ||
| Q1 25 | 0.08× | 0.99× | ||
| Q4 24 | 0.06× | — | ||
| Q3 24 | 0.05× | — | ||
| Q2 24 | 0.13× | 532.10× | ||
| Q1 24 | 0.13× | 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 | $107.3M | $274.9M |
| Free Cash FlowOCF − Capex | $26.0M | $-2.7M |
| FCF MarginFCF / Revenue | 2.5% | -0.4% |
| Capex IntensityCapex / Revenue | 7.8% | 43.5% |
| Cash ConversionOCF / Net Profit | — | 1.51× |
| TTM Free Cash FlowTrailing 4 quarters | $21.2M | $204.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $107.3M | $274.9M | ||
| Q3 25 | $87.9M | $237.8M | ||
| Q2 25 | $220.2M | $388.4M | ||
| Q1 25 | $-109.6M | $253.8M | ||
| Q4 24 | $121.3M | $220.1M | ||
| Q3 24 | $161.3M | $197.9M | ||
| Q2 24 | $116.3M | $281.8M | ||
| Q1 24 | $77.5M | $315.3M |
| Q4 25 | $26.0M | $-2.7M | ||
| Q3 25 | $38.6M | $-47.8M | ||
| Q2 25 | $131.0M | $195.3M | ||
| Q1 25 | $-174.5M | $59.9M | ||
| Q4 24 | $80.5M | $-20.3M | ||
| Q3 24 | $121.9M | $-49.1M | ||
| Q2 24 | $60.9M | $79.5M | ||
| Q1 24 | $35.1M | $80.3M |
| Q4 25 | 2.5% | -0.4% | ||
| Q3 25 | 3.9% | -10.8% | ||
| Q2 25 | 11.9% | 37.0% | ||
| Q1 25 | -17.1% | 8.2% | ||
| Q4 24 | 14.0% | -4.0% | ||
| Q3 24 | 22.0% | -15.8% | ||
| Q2 24 | 12.4% | 23.5% | ||
| Q1 24 | 6.4% | 14.4% |
| Q4 25 | 7.8% | 43.5% | ||
| Q3 25 | 4.9% | 64.4% | ||
| Q2 25 | 8.1% | 36.6% | ||
| Q1 25 | 6.4% | 26.4% | ||
| Q4 24 | 7.1% | 46.8% | ||
| Q3 24 | 7.1% | 79.7% | ||
| Q2 24 | 11.3% | 59.7% | ||
| Q1 24 | 7.7% | 42.1% |
| Q4 25 | — | 1.51× | ||
| Q3 25 | 2.78× | 2.21× | ||
| Q2 25 | — | 2.59× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | 3.94× | 4.89× | ||
| Q3 24 | 1.69× | — | ||
| Q2 24 | 2.00× | — | ||
| Q1 24 | 0.76× | 1.90× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CNR
| Other | $397.4M | 38% |
| Power Generation | $376.5M | 36% |
| PRB | $183.0M | 18% |
| Metallurgical | $42.0M | 4% |
| Industrial | $34.1M | 3% |
| Terminal Revenue | $6.4M | 1% |
| Other Revenue | $3.0M | 0% |
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% |
