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Side-by-side financial comparison of DIVERSIFIED HEALTHCARE TRUST (DHC) 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 ($425.9M vs $379.6M, roughly 1.1× DIVERSIFIED HEALTHCARE TRUST). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs -5.6%, a 41.3% gap on every dollar of revenue. On growth, NATIONAL FUEL GAS CO posted the faster year-over-year revenue change (1.7% vs -0.0%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs 1.2%).
GE Healthcare Technologies, Inc. is an American health technology company based in Chicago, Illinois. The company, which stylizes its own name as GE HealthCare, operates four divisions: Medical imaging, which includes molecular imaging, computed tomography, magnetic resonance, women’s health screening and X-ray systems; Ultrasound; Patient Care Solutions, which is focused on remote patient monitoring, anesthesia and respiratory care, diagnostic cardiology, and infant care; and Pharmaceutical ...
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.
DHC vs NFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $379.6M | $425.9M |
| Net Profit | $-21.2M | $152.0M |
| Gross Margin | — | — |
| Operating Margin | -12.6% | 81.5% |
| Net Margin | -5.6% | 35.7% |
| Revenue YoY | -0.0% | 1.7% |
| Net Profit YoY | 75.7% | — |
| EPS (diluted) | $-0.09 | $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 | $379.6M | $637.9M | ||
| Q3 25 | $388.7M | $443.1M | ||
| Q2 25 | $382.7M | $527.4M | ||
| Q1 25 | $386.9M | $734.8M | ||
| Q4 24 | $379.6M | $513.8M | ||
| Q3 24 | $373.6M | $310.0M | ||
| Q2 24 | $371.4M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | $-21.2M | $181.6M | ||
| Q3 25 | $-164.0M | $107.3M | ||
| Q2 25 | $-91.6M | $149.8M | ||
| Q1 25 | $-9.0M | $216.4M | ||
| Q4 24 | $-87.4M | $45.0M | ||
| Q3 24 | $-98.7M | $-167.6M | ||
| Q2 24 | $-97.9M | $-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 | -12.6% | 43.3% | ||
| Q3 25 | -43.4% | 40.6% | ||
| Q2 25 | -24.5% | 43.7% | ||
| Q1 25 | -2.7% | 43.2% | ||
| Q4 24 | -26.1% | 16.8% | ||
| Q3 24 | -26.5% | -63.4% | ||
| Q2 24 | -23.0% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | -5.6% | 28.5% | ||
| Q3 25 | -42.2% | 24.2% | ||
| Q2 25 | -23.9% | 28.4% | ||
| Q1 25 | -2.3% | 29.4% | ||
| Q4 24 | -23.0% | 8.8% | ||
| Q3 24 | -26.4% | -54.1% | ||
| Q2 24 | -26.3% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | $-0.09 | $1.98 | ||
| Q3 25 | $-0.68 | $1.18 | ||
| Q2 25 | $-0.38 | $1.64 | ||
| Q1 25 | $-0.04 | $2.37 | ||
| Q4 24 | $-0.37 | $0.49 | ||
| Q3 24 | $-0.41 | $-1.81 | ||
| Q2 24 | $-0.41 | $-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 | $105.4M | — |
| Total DebtLower is stronger | $2.4B | $300.0M |
| Stockholders' EquityBook value | $1.7B | — |
| Total Assets | $4.4B | $9.1B |
| Debt / EquityLower = less leverage | 1.47× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $105.4M | $271.4M | ||
| Q3 25 | $201.4M | $43.2M | ||
| Q2 25 | $141.8M | $39.3M | ||
| Q1 25 | $302.6M | $40.0M | ||
| Q4 24 | $144.6M | $48.7M | ||
| Q3 24 | $256.5M | $38.2M | ||
| Q2 24 | $265.6M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | $2.4B | $2.7B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | $3.1B | $2.7B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $3.6B | ||
| Q3 25 | $1.7B | $3.1B | ||
| Q2 25 | $1.9B | $3.0B | ||
| Q1 25 | $1.9B | $2.8B | ||
| Q4 24 | $2.0B | $-76.2M | ||
| Q3 24 | $2.0B | $-15.5M | ||
| Q2 24 | $2.1B | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $4.4B | $9.2B | ||
| Q3 25 | $4.7B | $8.7B | ||
| Q2 25 | $4.8B | $8.4B | ||
| Q1 25 | $5.0B | $8.5B | ||
| Q4 24 | $5.1B | $8.3B | ||
| Q3 24 | $5.3B | $8.3B | ||
| Q2 24 | $5.3B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.47× | 0.75× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 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 | $-19.6M | $657.3M |
| Free Cash FlowOCF − Capex | $-166.4M | — |
| FCF MarginFCF / Revenue | -43.8% | — |
| Capex IntensityCapex / Revenue | 38.7% | 117.0% |
| Cash ConversionOCF / Net Profit | — | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $-280.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | $-19.6M | $274.9M | ||
| Q3 25 | $-49.3M | $237.8M | ||
| Q2 25 | $53.0M | $388.4M | ||
| Q1 25 | $-3.2M | $253.8M | ||
| Q4 24 | $112.2M | $220.1M | ||
| Q3 24 | $21.1M | $197.9M | ||
| Q2 24 | $44.3M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $-166.4M | $-2.7M | ||
| Q3 25 | $-89.8M | $-47.8M | ||
| Q2 25 | $18.8M | $195.3M | ||
| Q1 25 | $-42.9M | $59.9M | ||
| Q4 24 | $-89.5M | $-20.3M | ||
| Q3 24 | $-26.1M | $-49.1M | ||
| Q2 24 | $3.3M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | -43.8% | -0.4% | ||
| Q3 25 | -23.1% | -10.8% | ||
| Q2 25 | 4.9% | 37.0% | ||
| Q1 25 | -11.1% | 8.2% | ||
| Q4 24 | -23.6% | -4.0% | ||
| Q3 24 | -7.0% | -15.8% | ||
| Q2 24 | 0.9% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 38.7% | 43.5% | ||
| Q3 25 | 10.4% | 64.4% | ||
| Q2 25 | 8.9% | 36.6% | ||
| Q1 25 | 10.2% | 26.4% | ||
| Q4 24 | 53.1% | 46.8% | ||
| Q3 24 | 12.6% | 79.7% | ||
| Q2 24 | 11.0% | 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
DHC
| Senior Housing Operating Portfolio Segment | $323.4M | 85% |
| Rental Income | $56.2M | 15% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
