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Side-by-side financial comparison of DIODES INC (DIOD) 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 $391.6M, roughly 1.6× DIODES INC). NATIONAL FUEL GAS CO runs the higher net margin — 28.5% vs 2.6%, a 25.9% gap on every dollar of revenue. On growth, NATIONAL FUEL GAS CO posted the faster year-over-year revenue change (24.1% vs 15.4%). DIODES INC produced more free cash flow last quarter ($12.4M vs $-2.7M). Over the past eight quarters, DIODES INC's revenue compounded faster (13.9% CAGR vs 6.9%).
Diodes Incorporated is a global semiconductor manufacturer that designs, produces and supplies discrete, analog and mixed-signal semiconductor products. Its solutions serve key end markets including automotive, industrial, consumer electronics, personal computing and communications infrastructure, with a worldwide customer base.
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.
DIOD vs NFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $391.6M | $637.9M |
| Net Profit | $10.2M | $181.6M |
| Gross Margin | 31.1% | 86.6% |
| Operating Margin | 3.4% | 43.3% |
| Net Margin | 2.6% | 28.5% |
| Revenue YoY | 15.4% | 24.1% |
| Net Profit YoY | 23.8% | 303.8% |
| EPS (diluted) | $0.23 | $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 | $391.6M | $637.9M | ||
| Q3 25 | $392.2M | $443.1M | ||
| Q2 25 | $366.2M | $527.4M | ||
| Q1 25 | $332.1M | $734.8M | ||
| Q4 24 | $339.3M | $513.8M | ||
| Q3 24 | $350.1M | $310.0M | ||
| Q2 24 | $319.8M | $338.6M | ||
| Q1 24 | $302.0M | $558.7M |
| Q4 25 | $10.2M | $181.6M | ||
| Q3 25 | $14.3M | $107.3M | ||
| Q2 25 | $46.1M | $149.8M | ||
| Q1 25 | $-4.4M | $216.4M | ||
| Q4 24 | $8.2M | $45.0M | ||
| Q3 24 | $13.7M | $-167.6M | ||
| Q2 24 | $8.0M | $-54.2M | ||
| Q1 24 | $14.0M | $166.3M |
| Q4 25 | 31.1% | 86.6% | ||
| Q3 25 | 30.7% | — | ||
| Q2 25 | 31.5% | 94.7% | ||
| Q1 25 | 31.5% | 81.6% | ||
| Q4 24 | 32.7% | 87.3% | ||
| Q3 24 | 33.7% | — | ||
| Q2 24 | 33.6% | 98.5% | ||
| Q1 24 | 33.0% | 81.0% |
| Q4 25 | 3.4% | 43.3% | ||
| Q3 25 | 3.0% | 40.6% | ||
| Q2 25 | 2.6% | 43.7% | ||
| Q1 25 | 0.4% | 43.2% | ||
| Q4 24 | 3.5% | 16.8% | ||
| Q3 24 | 6.2% | -63.4% | ||
| Q2 24 | 1.2% | -15.2% | ||
| Q1 24 | 4.3% | 44.9% |
| Q4 25 | 2.6% | 28.5% | ||
| Q3 25 | 3.6% | 24.2% | ||
| Q2 25 | 12.6% | 28.4% | ||
| Q1 25 | -1.3% | 29.4% | ||
| Q4 24 | 2.4% | 8.8% | ||
| Q3 24 | 3.9% | -54.1% | ||
| Q2 24 | 2.5% | -16.0% | ||
| Q1 24 | 4.6% | 29.8% |
| Q4 25 | $0.23 | $1.98 | ||
| Q3 25 | $0.31 | $1.18 | ||
| Q2 25 | $0.99 | $1.64 | ||
| Q1 25 | $-0.10 | $2.37 | ||
| Q4 24 | $0.18 | $0.49 | ||
| Q3 24 | $0.30 | $-1.81 | ||
| Q2 24 | $0.17 | $-0.59 | ||
| Q1 24 | $0.30 | $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 | $377.0M | $271.4M |
| Total DebtLower is stronger | $25.7M | $2.7B |
| Stockholders' EquityBook value | $1.9B | $3.6B |
| Total Assets | $2.4B | $9.2B |
| Debt / EquityLower = less leverage | 0.01× | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $377.0M | $271.4M | ||
| Q3 25 | $386.4M | $43.2M | ||
| Q2 25 | $327.3M | $39.3M | ||
| Q1 25 | $343.9M | $40.0M | ||
| Q4 24 | $316.1M | $48.7M | ||
| Q3 24 | $319.3M | $38.2M | ||
| Q2 24 | $273.9M | $81.4M | ||
| Q1 24 | $276.0M | $50.8M |
| Q4 25 | $25.7M | $2.7B | ||
| Q3 25 | $24.9M | $2.7B | ||
| Q2 25 | $26.4M | $2.7B | ||
| Q1 25 | $20.5M | $2.7B | ||
| Q4 24 | $20.7M | $2.7B | ||
| Q3 24 | $22.2M | $2.7B | ||
| Q2 24 | $20.3M | $2.7B | ||
| Q1 24 | $20.9M | $2.4B |
| Q4 25 | $1.9B | $3.6B | ||
| Q3 25 | $1.9B | $3.1B | ||
| Q2 25 | $1.9B | $3.0B | ||
| Q1 25 | $1.8B | $2.8B | ||
| Q4 24 | $1.8B | $-76.2M | ||
| Q3 24 | $1.8B | $-15.5M | ||
| Q2 24 | $1.8B | $5.0M | ||
| Q1 24 | $1.7B | $75.3M |
| Q4 25 | $2.4B | $9.2B | ||
| Q3 25 | $2.5B | $8.7B | ||
| Q2 25 | $2.5B | $8.4B | ||
| Q1 25 | $2.4B | $8.5B | ||
| Q4 24 | $2.4B | $8.3B | ||
| Q3 24 | $2.4B | $8.3B | ||
| Q2 24 | $2.4B | $8.5B | ||
| Q1 24 | $2.4B | $8.7B |
| Q4 25 | 0.01× | 0.75× | ||
| Q3 25 | 0.01× | 0.87× | ||
| Q2 25 | 0.01× | 0.90× | ||
| Q1 25 | 0.01× | 0.99× | ||
| Q4 24 | 0.01× | — | ||
| Q3 24 | 0.01× | — | ||
| Q2 24 | 0.01× | 532.10× | ||
| Q1 24 | 0.01× | 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 | $38.1M | $274.9M |
| Free Cash FlowOCF − Capex | $12.4M | $-2.7M |
| FCF MarginFCF / Revenue | 3.2% | -0.4% |
| Capex IntensityCapex / Revenue | 6.6% | 43.5% |
| Cash ConversionOCF / Net Profit | 3.74× | 1.51× |
| TTM Free Cash FlowTrailing 4 quarters | $137.2M | $204.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.1M | $274.9M | ||
| Q3 25 | $79.1M | $237.8M | ||
| Q2 25 | $41.5M | $388.4M | ||
| Q1 25 | $56.7M | $253.8M | ||
| Q4 24 | $81.8M | $220.1M | ||
| Q3 24 | $54.4M | $197.9M | ||
| Q2 24 | $14.4M | $281.8M | ||
| Q1 24 | $-31.1M | $315.3M |
| Q4 25 | $12.4M | $-2.7M | ||
| Q3 25 | $62.8M | $-47.8M | ||
| Q2 25 | $21.1M | $195.3M | ||
| Q1 25 | $40.8M | $59.9M | ||
| Q4 24 | $62.1M | $-20.3M | ||
| Q3 24 | $39.4M | $-49.1M | ||
| Q2 24 | $-3.5M | $79.5M | ||
| Q1 24 | $-51.5M | $80.3M |
| Q4 25 | 3.2% | -0.4% | ||
| Q3 25 | 16.0% | -10.8% | ||
| Q2 25 | 5.8% | 37.0% | ||
| Q1 25 | 12.3% | 8.2% | ||
| Q4 24 | 18.3% | -4.0% | ||
| Q3 24 | 11.2% | -15.8% | ||
| Q2 24 | -1.1% | 23.5% | ||
| Q1 24 | -17.1% | 14.4% |
| Q4 25 | 6.6% | 43.5% | ||
| Q3 25 | 4.2% | 64.4% | ||
| Q2 25 | 5.6% | 36.6% | ||
| Q1 25 | 4.8% | 26.4% | ||
| Q4 24 | 5.8% | 46.8% | ||
| Q3 24 | 4.3% | 79.7% | ||
| Q2 24 | 5.6% | 59.7% | ||
| Q1 24 | 6.7% | 42.1% |
| Q4 25 | 3.74× | 1.51× | ||
| Q3 25 | 5.54× | 2.21× | ||
| Q2 25 | 0.90× | 2.59× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | 9.93× | 4.89× | ||
| Q3 24 | 3.95× | — | ||
| Q2 24 | 1.80× | — | ||
| Q1 24 | -2.22× | 1.90× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DIOD
| Distributor | $253.1M | 65% |
| Direct Sales | $138.5M | 35% |
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% |
