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Side-by-side financial comparison of Distribution Solutions Group, Inc. (DSGR) and NATIONAL FUEL GAS CO (NFG). Click either name above to swap in a different company.
Distribution Solutions Group, Inc. is the larger business by last-quarter revenue ($518.0M vs $425.9M, roughly 1.2× NATIONAL FUEL GAS CO). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 1.2%, a 34.4% gap on every dollar of revenue. On growth, Distribution Solutions Group, Inc. posted the faster year-over-year revenue change (10.7% vs 1.7%). Over the past eight quarters, Distribution Solutions Group, Inc.'s revenue compounded faster (13.1% CAGR vs 12.1%).
Univar Solutions Inc. is a global chemical and ingredients distributor and provider of value-added services.
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.
DSGR vs NFG — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $518.0M | $425.9M |
| Net Profit | $6.5M | $152.0M |
| Gross Margin | 32.9% | — |
| Operating Margin | 4.6% | 81.5% |
| Net Margin | 1.2% | 35.7% |
| Revenue YoY | 10.7% | 1.7% |
| Net Profit YoY | -70.6% | — |
| EPS (diluted) | $0.14 | $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 | $518.0M | $443.1M | ||
| Q2 25 | $502.4M | $527.4M | ||
| Q1 25 | $478.0M | $734.8M | ||
| Q4 24 | $480.5M | $513.8M | ||
| Q3 24 | $468.0M | $310.0M | ||
| Q2 24 | $439.5M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | — | $181.6M | ||
| Q3 25 | $6.5M | $107.3M | ||
| Q2 25 | $5.0M | $149.8M | ||
| Q1 25 | $3.3M | $216.4M | ||
| Q4 24 | $-25.9M | $45.0M | ||
| Q3 24 | $21.9M | $-167.6M | ||
| Q2 24 | $1.9M | $-54.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 86.6% | ||
| Q3 25 | 32.9% | — | ||
| Q2 25 | 33.9% | 94.7% | ||
| Q1 25 | 34.3% | 81.6% | ||
| Q4 24 | 33.3% | 87.3% | ||
| Q3 24 | 33.9% | — | ||
| Q2 24 | 34.5% | 98.5% |
| Q1 26 | — | 81.5% | ||
| Q4 25 | — | 43.3% | ||
| Q3 25 | 4.6% | 40.6% | ||
| Q2 25 | 5.3% | 43.7% | ||
| Q1 25 | 4.2% | 43.2% | ||
| Q4 24 | 4.2% | 16.8% | ||
| Q3 24 | 4.0% | -63.4% | ||
| Q2 24 | 3.2% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | — | 28.5% | ||
| Q3 25 | 1.2% | 24.2% | ||
| Q2 25 | 1.0% | 28.4% | ||
| Q1 25 | 0.7% | 29.4% | ||
| Q4 24 | -5.4% | 8.8% | ||
| Q3 24 | 4.7% | -54.1% | ||
| Q2 24 | 0.4% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | — | $1.98 | ||
| Q3 25 | $0.14 | $1.18 | ||
| Q2 25 | $0.11 | $1.64 | ||
| Q1 25 | $0.07 | $2.37 | ||
| Q4 24 | $-0.55 | $0.49 | ||
| Q3 24 | $0.46 | $-1.81 | ||
| Q2 24 | $0.04 | $-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 | $69.2M | — |
| Total DebtLower is stronger | $665.5M | $300.0M |
| Stockholders' EquityBook value | $653.9M | — |
| Total Assets | $1.8B | $9.1B |
| Debt / EquityLower = less leverage | 1.02× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $271.4M | ||
| Q3 25 | $69.2M | $43.2M | ||
| Q2 25 | $47.4M | $39.3M | ||
| Q1 25 | $65.4M | $40.0M | ||
| Q4 24 | $66.5M | $48.7M | ||
| Q3 24 | $61.3M | $38.2M | ||
| Q2 24 | $46.8M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | $665.5M | $2.7B | ||
| Q2 25 | $675.0M | $2.7B | ||
| Q1 25 | $712.4M | $2.7B | ||
| Q4 24 | $693.9M | $2.7B | ||
| Q3 24 | $704.1M | $2.7B | ||
| Q2 24 | $573.7M | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.6B | ||
| Q3 25 | $653.9M | $3.1B | ||
| Q2 25 | $649.4M | $3.0B | ||
| Q1 25 | $636.7M | $2.8B | ||
| Q4 24 | $640.5M | $-76.2M | ||
| Q3 24 | $680.8M | $-15.5M | ||
| Q2 24 | $653.3M | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | — | $9.2B | ||
| Q3 25 | $1.8B | $8.7B | ||
| Q2 25 | $1.8B | $8.4B | ||
| Q1 25 | $1.8B | $8.5B | ||
| Q4 24 | $1.7B | $8.3B | ||
| Q3 24 | $1.8B | $8.3B | ||
| Q2 24 | $1.6B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.75× | ||
| Q3 25 | 1.02× | 0.87× | ||
| Q2 25 | 1.04× | 0.90× | ||
| Q1 25 | 1.12× | 0.99× | ||
| Q4 24 | 1.08× | — | ||
| Q3 24 | 1.03× | — | ||
| Q2 24 | 0.88× | 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 | $38.4M | $657.3M |
| Free Cash FlowOCF − Capex | $32.9M | — |
| FCF MarginFCF / Revenue | 6.3% | — |
| Capex IntensityCapex / Revenue | 1.1% | 117.0% |
| Cash ConversionOCF / Net Profit | 5.95× | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $92.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | — | $274.9M | ||
| Q3 25 | $38.4M | $237.8M | ||
| Q2 25 | $33.3M | $388.4M | ||
| Q1 25 | $-4.8M | $253.8M | ||
| Q4 24 | $45.7M | $220.1M | ||
| Q3 24 | $-17.3M | $197.9M | ||
| Q2 24 | $21.4M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-2.7M | ||
| Q3 25 | $32.9M | $-47.8M | ||
| Q2 25 | $28.7M | $195.3M | ||
| Q1 25 | $-10.4M | $59.9M | ||
| Q4 24 | $41.1M | $-20.3M | ||
| Q3 24 | $-20.5M | $-49.1M | ||
| Q2 24 | $18.0M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.4% | ||
| Q3 25 | 6.3% | -10.8% | ||
| Q2 25 | 5.7% | 37.0% | ||
| Q1 25 | -2.2% | 8.2% | ||
| Q4 24 | 8.6% | -4.0% | ||
| Q3 24 | -4.4% | -15.8% | ||
| Q2 24 | 4.1% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | 1.1% | 64.4% | ||
| Q2 25 | 0.9% | 36.6% | ||
| Q1 25 | 1.2% | 26.4% | ||
| Q4 24 | 1.0% | 46.8% | ||
| Q3 24 | 0.7% | 79.7% | ||
| Q2 24 | 0.8% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | — | 1.51× | ||
| Q3 25 | 5.95× | 2.21× | ||
| Q2 25 | 6.66× | 2.59× | ||
| Q1 25 | -1.46× | 1.17× | ||
| Q4 24 | — | 4.89× | ||
| Q3 24 | -0.79× | — | ||
| Q2 24 | 11.28× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DSGR
| Test Equity Segment | $206.5M | 40% |
| Gexpro Services Segment | $130.5M | 25% |
| Lawson Segment | $121.5M | 23% |
| Canada Branch Division Segment | $60.0M | 12% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
