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Side-by-side financial comparison of Diversified Energy Co (DEC) and Legence Corp. (LGN). Click either name above to swap in a different company.
Legence Corp. is the larger business by last-quarter revenue ($708.0M vs $666.5M, roughly 1.1× Diversified Energy Co). Diversified Energy Co runs the higher net margin — 29.3% vs -0.1%, a 29.4% gap on every dollar of revenue. Diversified Energy Co produced more free cash flow last quarter ($280.0M vs $137.4M).
DTE Energy is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services in the United States and Canada. Its operating units include an electric utility serving 2.2 million customers and a natural gas utility serving 1.3 million customers in Michigan.
Legence Corp is a leading sustainable building and decarbonization solution provider. It delivers energy efficiency optimization, building automation design, renewable energy integration, and low-carbon retrofit services for commercial, industrial, and institutional clients, with core operations across North America to help customers cut costs and reduce carbon footprints.
DEC vs LGN — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $666.5M | $708.0M |
| Net Profit | $195.5M | $-576.0K |
| Gross Margin | — | 20.9% |
| Operating Margin | 37.6% | 5.3% |
| Net Margin | 29.3% | -0.1% |
| Revenue YoY | — | 26.2% |
| Net Profit YoY | — | 46.8% |
| EPS (diluted) | — | $-0.02 |
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 | $666.5M | — | ||
| Q3 25 | $499.8M | $708.0M | ||
| Q2 25 | $600.3M | — | ||
| Q3 24 | — | $560.8M |
| Q4 25 | $195.5M | — | ||
| Q3 25 | $171.1M | $-576.0K | ||
| Q2 25 | $297.7M | — | ||
| Q3 24 | — | $-1.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | 44.7% | — | ||
| Q3 24 | — | 21.1% |
| Q4 25 | 37.6% | — | ||
| Q3 25 | 36.2% | 5.3% | ||
| Q2 25 | 48.5% | — | ||
| Q3 24 | — | 4.8% |
| Q4 25 | 29.3% | — | ||
| Q3 25 | 34.2% | -0.1% | ||
| Q2 25 | 49.6% | — | ||
| Q3 24 | — | -0.2% |
| Q4 25 | — | — | ||
| Q3 25 | $2.14 | $-0.02 | ||
| Q2 25 | $3.67 | — | ||
| Q3 24 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $29.7M | $176.0M |
| Total DebtLower is stronger | $2.7B | $812.6M |
| Stockholders' EquityBook value | $984.1M | $387.9M |
| Total Assets | $6.2B | $2.6B |
| Debt / EquityLower = less leverage | 2.76× | 2.10× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.7M | — | ||
| Q3 25 | — | $176.0M | ||
| Q2 25 | $23.7M | — | ||
| Q3 24 | — | — |
| Q4 25 | $2.7B | — | ||
| Q3 25 | — | $812.6M | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — |
| Q4 25 | $984.1M | — | ||
| Q3 25 | — | $387.9M | ||
| Q2 25 | $727.7M | — | ||
| Q3 24 | — | — |
| Q4 25 | $6.2B | — | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | $5.7B | — | ||
| Q3 24 | — | — |
| Q4 25 | 2.76× | — | ||
| Q3 25 | — | 2.10× | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — |
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 | $464.6M | $162.1M |
| Free Cash FlowOCF − Capex | $280.0M | $137.4M |
| FCF MarginFCF / Revenue | 42.0% | 19.4% |
| Capex IntensityCapex / Revenue | 27.7% | 3.5% |
| Cash ConversionOCF / Net Profit | 2.38× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $464.6M | — | ||
| Q3 25 | — | $162.1M | ||
| Q2 25 | $264.1M | — | ||
| Q3 24 | — | — |
| Q4 25 | $280.0M | — | ||
| Q3 25 | — | $137.4M | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — |
| Q4 25 | 42.0% | — | ||
| Q3 25 | — | 19.4% | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — |
| Q4 25 | 27.7% | — | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — |
| Q4 25 | 2.38× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.89× | — | ||
| Q3 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DEC
Segment breakdown not available.
LGN
| Installation And Fabrication | $408.7M | 58% |
| Engineering And Design | $110.9M | 16% |
| Program And Project Management | $101.2M | 14% |
| Maintenance And Service | $87.1M | 12% |
