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Side-by-side financial comparison of Element Solutions Inc (ESI) and NATIONAL FUEL GAS CO (NFG). Click either name above to swap in a different company.
Element Solutions Inc is the larger business by last-quarter revenue ($840.0M vs $425.9M, roughly 2.0× NATIONAL FUEL GAS CO). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 6.7%, a 29.0% gap on every dollar of revenue. On growth, Element Solutions Inc posted the faster year-over-year revenue change (41.0% vs 1.7%). Over the past eight quarters, Element Solutions Inc's revenue compounded faster (17.1% CAGR vs 12.1%).
Element Solutions Inc is an American specialty chemicals production corporation listed on the New York Stock Exchange.
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.
ESI vs NFG — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $840.0M | $425.9M |
| Net Profit | $56.0M | $152.0M |
| Gross Margin | 38.4% | — |
| Operating Margin | 13.3% | 81.5% |
| Net Margin | 6.7% | 35.7% |
| Revenue YoY | 41.0% | 1.7% |
| Net Profit YoY | -43.0% | — |
| EPS (diluted) | $0.23 | $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 | $840.0M | $425.9M | ||
| Q4 25 | $676.2M | $637.9M | ||
| Q3 25 | $656.1M | $443.1M | ||
| Q2 25 | $625.2M | $527.4M | ||
| Q1 25 | $593.7M | $734.8M | ||
| Q4 24 | $624.2M | $513.8M | ||
| Q3 24 | $645.0M | $310.0M | ||
| Q2 24 | $612.7M | $338.6M |
| Q1 26 | $56.0M | $152.0M | ||
| Q4 25 | $6.2M | $181.6M | ||
| Q3 25 | $39.3M | $107.3M | ||
| Q2 25 | $47.4M | $149.8M | ||
| Q1 25 | $98.0M | $216.4M | ||
| Q4 24 | $54.7M | $45.0M | ||
| Q3 24 | $40.3M | $-167.6M | ||
| Q2 24 | $93.2M | $-54.2M |
| Q1 26 | 38.4% | — | ||
| Q4 25 | 40.9% | 86.6% | ||
| Q3 25 | 42.2% | — | ||
| Q2 25 | 42.6% | 94.7% | ||
| Q1 25 | 42.2% | 81.6% | ||
| Q4 24 | 41.0% | 87.3% | ||
| Q3 24 | 41.5% | — | ||
| Q2 24 | 43.6% | 98.5% |
| Q1 26 | 13.3% | 81.5% | ||
| Q4 25 | 10.3% | 43.3% | ||
| Q3 25 | 15.4% | 40.6% | ||
| Q2 25 | 15.1% | 43.7% | ||
| Q1 25 | 13.0% | 43.2% | ||
| Q4 24 | 12.0% | 16.8% | ||
| Q3 24 | 14.7% | -63.4% | ||
| Q2 24 | 15.7% | -15.2% |
| Q1 26 | 6.7% | 35.7% | ||
| Q4 25 | 0.9% | 28.5% | ||
| Q3 25 | 6.0% | 24.2% | ||
| Q2 25 | 7.6% | 28.4% | ||
| Q1 25 | 16.5% | 29.4% | ||
| Q4 24 | 8.8% | 8.8% | ||
| Q3 24 | 6.2% | -54.1% | ||
| Q2 24 | 15.2% | -16.0% |
| Q1 26 | $0.23 | $1.59 | ||
| Q4 25 | $0.03 | $1.98 | ||
| Q3 25 | $0.16 | $1.18 | ||
| Q2 25 | $0.20 | $1.64 | ||
| Q1 25 | $0.40 | $2.37 | ||
| Q4 24 | $0.22 | $0.49 | ||
| Q3 24 | $0.17 | $-1.81 | ||
| Q2 24 | $0.39 | $-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 | $177.3M | — |
| Total DebtLower is stronger | — | $300.0M |
| Stockholders' EquityBook value | $2.7B | — |
| Total Assets | $5.7B | $9.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $177.3M | — | ||
| Q4 25 | $626.5M | $271.4M | ||
| Q3 25 | $594.3M | $43.2M | ||
| Q2 25 | $529.9M | $39.3M | ||
| Q1 25 | $499.2M | $40.0M | ||
| Q4 24 | $359.4M | $48.7M | ||
| Q3 24 | $376.0M | $38.2M | ||
| Q2 24 | $309.3M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | $1.6B | $2.7B | ||
| Q3 25 | $1.6B | $2.7B | ||
| Q2 25 | $1.6B | $2.7B | ||
| Q1 25 | $1.6B | $2.7B | ||
| Q4 24 | $1.8B | $2.7B | ||
| Q3 24 | $1.9B | $2.7B | ||
| Q2 24 | $1.9B | $2.7B |
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $3.6B | ||
| Q3 25 | $2.7B | $3.1B | ||
| Q2 25 | $2.6B | $3.0B | ||
| Q1 25 | $2.5B | $2.8B | ||
| Q4 24 | $2.4B | $-76.2M | ||
| Q3 24 | $2.4B | $-15.5M | ||
| Q2 24 | $2.4B | $5.0M |
| Q1 26 | $5.7B | $9.1B | ||
| Q4 25 | $5.1B | $9.2B | ||
| Q3 25 | $5.0B | $8.7B | ||
| Q2 25 | $5.0B | $8.4B | ||
| Q1 25 | $4.8B | $8.5B | ||
| Q4 24 | $4.9B | $8.3B | ||
| Q3 24 | $5.1B | $8.3B | ||
| Q2 24 | $5.0B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.61× | 0.75× | ||
| Q3 25 | 0.61× | 0.87× | ||
| Q2 25 | 0.62× | 0.90× | ||
| Q1 25 | 0.64× | 0.99× | ||
| Q4 24 | 0.76× | — | ||
| Q3 24 | 0.78× | — | ||
| Q2 24 | 0.81× | 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 | $-74.2M | — |
| FCF MarginFCF / Revenue | -8.8% | — |
| Capex IntensityCapex / Revenue | 3.0% | 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 | — | $274.9M | ||
| Q3 25 | $100.1M | $237.8M | ||
| Q2 25 | — | $388.4M | ||
| Q1 25 | $26.0M | $253.8M | ||
| Q4 24 | — | $220.1M | ||
| Q3 24 | $98.5M | $197.9M | ||
| Q2 24 | — | $281.8M |
| Q1 26 | $-74.2M | — | ||
| Q4 25 | — | $-2.7M | ||
| Q3 25 | $83.6M | $-47.8M | ||
| Q2 25 | — | $195.3M | ||
| Q1 25 | $15.0M | $59.9M | ||
| Q4 24 | — | $-20.3M | ||
| Q3 24 | $85.9M | $-49.1M | ||
| Q2 24 | — | $79.5M |
| Q1 26 | -8.8% | — | ||
| Q4 25 | — | -0.4% | ||
| Q3 25 | 12.7% | -10.8% | ||
| Q2 25 | — | 37.0% | ||
| Q1 25 | 2.5% | 8.2% | ||
| Q4 24 | — | -4.0% | ||
| Q3 24 | 13.3% | -15.8% | ||
| Q2 24 | — | 23.5% |
| Q1 26 | 3.0% | 117.0% | ||
| Q4 25 | 2.5% | 43.5% | ||
| Q3 25 | 2.5% | 64.4% | ||
| Q2 25 | 2.8% | 36.6% | ||
| Q1 25 | 1.9% | 26.4% | ||
| Q4 24 | 3.6% | 46.8% | ||
| Q3 24 | 2.0% | 79.7% | ||
| Q2 24 | 2.4% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | — | 1.51× | ||
| Q3 25 | 2.55× | 2.21× | ||
| Q2 25 | — | 2.59× | ||
| Q1 25 | 0.27× | 1.17× | ||
| Q4 24 | — | 4.89× | ||
| Q3 24 | 2.44× | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESI
| Electronics ex-Metals | $377.8M | 45% |
| Pass-through Metals | $255.7M | 30% |
| Other | $206.5M | 25% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
