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Side-by-side financial comparison of Eastern Bankshares, Inc. (EBC) 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 $295.9M, roughly 1.4× Eastern Bankshares, Inc.). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 22.1%, a 13.6% gap on every dollar of revenue. On growth, Eastern Bankshares, Inc. posted the faster year-over-year revenue change (710.6% vs 1.7%). Over the past eight quarters, Eastern Bankshares, Inc.'s revenue compounded faster (38.6% CAGR vs 12.1%).
Eastern Bank is a bank based in Boston, Massachusetts. Before de-mutualizing in 2020, it was the oldest and largest mutual bank in the United States and the largest community bank in Massachusetts.
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.
EBC vs NFG — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $295.9M | $425.9M |
| Net Profit | $65.3M | $152.0M |
| Gross Margin | — | — |
| Operating Margin | — | 81.5% |
| Net Margin | 22.1% | 35.7% |
| Revenue YoY | 710.6% | 1.7% |
| Net Profit YoY | -34.4% | — |
| EPS (diluted) | $0.29 | $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 | $295.9M | $425.9M | ||
| Q4 25 | $37.5M | $637.9M | ||
| Q3 25 | $241.5M | $443.1M | ||
| Q2 25 | $244.9M | $527.4M | ||
| Q1 25 | $31.1M | $734.8M | ||
| Q4 24 | $216.5M | $513.8M | ||
| Q3 24 | $203.4M | $310.0M | ||
| Q2 24 | $154.0M | $338.6M |
| Q1 26 | $65.3M | $152.0M | ||
| Q4 25 | $99.5M | $181.6M | ||
| Q3 25 | $106.1M | $107.3M | ||
| Q2 25 | $100.2M | $149.8M | ||
| Q1 25 | $-217.7M | $216.4M | ||
| Q4 24 | $60.8M | $45.0M | ||
| Q3 24 | $-6.2M | $-167.6M | ||
| Q2 24 | $26.3M | $-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 | — | 43.3% | ||
| Q3 25 | 38.9% | 40.6% | ||
| Q2 25 | 41.0% | 43.7% | ||
| Q1 25 | -590.9% | 43.2% | ||
| Q4 24 | 33.3% | 16.8% | ||
| Q3 24 | -1.6% | -63.4% | ||
| Q2 24 | 24.7% | -15.2% |
| Q1 26 | 22.1% | 35.7% | ||
| Q4 25 | 265.6% | 28.5% | ||
| Q3 25 | 44.0% | 24.2% | ||
| Q2 25 | 40.9% | 28.4% | ||
| Q1 25 | -699.2% | 29.4% | ||
| Q4 24 | 28.1% | 8.8% | ||
| Q3 24 | -3.0% | -54.1% | ||
| Q2 24 | 17.1% | -16.0% |
| Q1 26 | $0.29 | $1.59 | ||
| Q4 25 | $0.48 | $1.98 | ||
| Q3 25 | $0.53 | $1.18 | ||
| Q2 25 | $0.50 | $1.64 | ||
| Q1 25 | $-1.08 | $2.37 | ||
| Q4 24 | $0.29 | $0.49 | ||
| Q3 24 | $-0.03 | $-1.81 | ||
| Q2 24 | $0.16 | $-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 | $551.7M | — |
| Total DebtLower is stronger | — | $300.0M |
| Stockholders' EquityBook value | $4.3B | — |
| Total Assets | $30.6B | $9.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $551.7M | — | ||
| Q4 25 | $507.6M | $271.4M | ||
| Q3 25 | $703.4M | $43.2M | ||
| Q2 25 | $948.3M | $39.3M | ||
| Q1 25 | $609.0M | $40.0M | ||
| Q4 24 | $1.9B | $48.7M | ||
| Q3 24 | $1.7B | $38.2M | ||
| Q2 24 | $1.4B | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.7B |
| Q1 26 | $4.3B | — | ||
| Q4 25 | $4.3B | $3.6B | ||
| Q3 25 | $3.8B | $3.1B | ||
| Q2 25 | $3.7B | $3.0B | ||
| Q1 25 | $3.6B | $2.8B | ||
| Q4 24 | $3.6B | $-76.2M | ||
| Q3 24 | $3.7B | $-15.5M | ||
| Q2 24 | $3.0B | $5.0M |
| Q1 26 | $30.6B | $9.1B | ||
| Q4 25 | $30.6B | $9.2B | ||
| Q3 25 | $25.5B | $8.7B | ||
| Q2 25 | $25.5B | $8.4B | ||
| Q1 25 | $25.0B | $8.5B | ||
| Q4 24 | $25.6B | $8.3B | ||
| Q3 24 | $25.5B | $8.3B | ||
| Q2 24 | $21.0B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | — | — | ||
| 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 | — | $657.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 117.0% |
| Cash ConversionOCF / Net Profit | — | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | $432.4M | $274.9M | ||
| Q3 25 | $157.1M | $237.8M | ||
| Q2 25 | $123.9M | $388.4M | ||
| Q1 25 | $47.3M | $253.8M | ||
| Q4 24 | $283.8M | $220.1M | ||
| Q3 24 | $108.3M | $197.9M | ||
| Q2 24 | $54.3M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-2.7M | ||
| Q3 25 | — | $-47.8M | ||
| Q2 25 | — | $195.3M | ||
| Q1 25 | — | $59.9M | ||
| Q4 24 | — | $-20.3M | ||
| Q3 24 | — | $-49.1M | ||
| Q2 24 | — | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.4% | ||
| Q3 25 | — | -10.8% | ||
| Q2 25 | — | 37.0% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | -4.0% | ||
| Q3 24 | — | -15.8% | ||
| Q2 24 | — | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | 64.4% | ||
| Q2 25 | — | 36.6% | ||
| Q1 25 | — | 26.4% | ||
| Q4 24 | — | 46.8% | ||
| Q3 24 | — | 79.7% | ||
| Q2 24 | — | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | 4.35× | 1.51× | ||
| Q3 25 | 1.48× | 2.21× | ||
| Q2 25 | 1.24× | 2.59× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | 4.67× | 4.89× | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.06× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EBC
Segment breakdown not available.
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
