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Side-by-side financial comparison of F5, Inc. (FFIV) and NATIONAL FUEL GAS CO (NFG). Click either name above to swap in a different company.
F5, Inc. is the larger business by last-quarter revenue ($811.7M vs $637.9M, roughly 1.3× NATIONAL FUEL GAS CO). NATIONAL FUEL GAS CO runs the higher net margin — 28.5% vs 18.2%, a 10.2% gap on every dollar of revenue. On growth, NATIONAL FUEL GAS CO posted the faster year-over-year revenue change (24.1% vs 11.0%). Over the past eight quarters, F5, Inc.'s revenue compounded faster (8.0% CAGR vs 6.9%).
F5, Inc. is an American technology company specializing in application security, multi-cloud management, online fraud prevention, application delivery networking (ADN), application availability and performance, and network security, access, and authorization.
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.
FFIV vs NFG — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $811.7M | $637.9M |
| Net Profit | $148.0M | $181.6M |
| Gross Margin | 81.4% | 86.6% |
| Operating Margin | 22.1% | 43.3% |
| Net Margin | 18.2% | 28.5% |
| Revenue YoY | 11.0% | 24.1% |
| Net Profit YoY | 1.5% | 303.8% |
| EPS (diluted) | $2.58 | $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.
| Q1 26 | $811.7M | — | ||
| Q4 25 | $822.5M | $637.9M | ||
| Q3 25 | $810.1M | $443.1M | ||
| Q2 25 | $780.4M | $527.4M | ||
| Q1 25 | $731.1M | $734.8M | ||
| Q4 24 | $766.5M | $513.8M | ||
| Q3 24 | $746.7M | $310.0M | ||
| Q2 24 | $695.5M | $338.6M |
| Q1 26 | $148.0M | — | ||
| Q4 25 | $180.1M | $181.6M | ||
| Q3 25 | $190.5M | $107.3M | ||
| Q2 25 | $189.9M | $149.8M | ||
| Q1 25 | $145.5M | $216.4M | ||
| Q4 24 | $166.4M | $45.0M | ||
| Q3 24 | $165.3M | $-167.6M | ||
| Q2 24 | $144.1M | $-54.2M |
| Q1 26 | 81.4% | — | ||
| Q4 25 | 81.5% | 86.6% | ||
| Q3 25 | 82.2% | — | ||
| Q2 25 | 81.0% | 94.7% | ||
| Q1 25 | 80.7% | 81.6% | ||
| Q4 24 | 81.7% | 87.3% | ||
| Q3 24 | 80.8% | — | ||
| Q2 24 | 80.4% | 98.5% |
| Q1 26 | 22.1% | — | ||
| Q4 25 | 26.0% | 43.3% | ||
| Q3 25 | 25.4% | 40.6% | ||
| Q2 25 | 25.2% | 43.7% | ||
| Q1 25 | 21.7% | 43.2% | ||
| Q4 24 | 26.8% | 16.8% | ||
| Q3 24 | 25.6% | -63.4% | ||
| Q2 24 | 23.4% | -15.2% |
| Q1 26 | 18.2% | — | ||
| Q4 25 | 21.9% | 28.5% | ||
| Q3 25 | 23.5% | 24.2% | ||
| Q2 25 | 24.3% | 28.4% | ||
| Q1 25 | 19.9% | 29.4% | ||
| Q4 24 | 21.7% | 8.8% | ||
| Q3 24 | 22.1% | -54.1% | ||
| Q2 24 | 20.7% | -16.0% |
| Q1 26 | $2.58 | — | ||
| Q4 25 | $3.10 | $1.98 | ||
| Q3 25 | $3.25 | $1.18 | ||
| Q2 25 | $3.25 | $1.64 | ||
| Q1 25 | $2.48 | $2.37 | ||
| Q4 24 | $2.82 | $0.49 | ||
| Q3 24 | $2.79 | $-1.81 | ||
| Q2 24 | $2.44 | $-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 | $1.4B | $271.4M |
| Total DebtLower is stronger | — | $2.7B |
| Stockholders' EquityBook value | $3.6B | $3.6B |
| Total Assets | $6.5B | $9.2B |
| Debt / EquityLower = less leverage | — | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.2B | $271.4M | ||
| Q3 25 | $1.3B | $43.2M | ||
| Q2 25 | $1.4B | $39.3M | ||
| Q1 25 | $1.3B | $40.0M | ||
| Q4 24 | $1.2B | $48.7M | ||
| Q3 24 | $1.1B | $38.2M | ||
| Q2 24 | $935.6M | $81.4M |
| Q1 26 | — | — | ||
| 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 | $3.6B | — | ||
| Q4 25 | $3.5B | $3.6B | ||
| Q3 25 | $3.6B | $3.1B | ||
| Q2 25 | $3.5B | $3.0B | ||
| Q1 25 | $3.3B | $2.8B | ||
| Q4 24 | $3.2B | $-76.2M | ||
| Q3 24 | $3.1B | $-15.5M | ||
| Q2 24 | $3.0B | $5.0M |
| Q1 26 | $6.5B | — | ||
| Q4 25 | $6.3B | $9.2B | ||
| Q3 25 | $6.3B | $8.7B | ||
| Q2 25 | $6.1B | $8.4B | ||
| Q1 25 | $5.9B | $8.5B | ||
| Q4 24 | $5.9B | $8.3B | ||
| Q3 24 | $5.6B | $8.3B | ||
| Q2 24 | $5.4B | $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 | $525.1M | $274.9M |
| Free Cash FlowOCF − Capex | — | $-2.7M |
| FCF MarginFCF / Revenue | — | -0.4% |
| Capex IntensityCapex / Revenue | — | 43.5% |
| Cash ConversionOCF / Net Profit | 3.55× | 1.51× |
| TTM Free Cash FlowTrailing 4 quarters | — | $204.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $525.1M | — | ||
| Q4 25 | $159.2M | $274.9M | ||
| Q3 25 | $208.1M | $237.8M | ||
| Q2 25 | $282.2M | $388.4M | ||
| Q1 25 | $256.6M | $253.8M | ||
| Q4 24 | $202.8M | $220.1M | ||
| Q3 24 | $246.5M | $197.9M | ||
| Q2 24 | $159.0M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $149.5M | $-2.7M | ||
| Q3 25 | $191.9M | $-47.8M | ||
| Q2 25 | $273.7M | $195.3M | ||
| Q1 25 | $246.1M | $59.9M | ||
| Q4 24 | $194.7M | $-20.3M | ||
| Q3 24 | $240.4M | $-49.1M | ||
| Q2 24 | $153.1M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | 18.2% | -0.4% | ||
| Q3 25 | 23.7% | -10.8% | ||
| Q2 25 | 35.1% | 37.0% | ||
| Q1 25 | 33.7% | 8.2% | ||
| Q4 24 | 25.4% | -4.0% | ||
| Q3 24 | 32.2% | -15.8% | ||
| Q2 24 | 22.0% | 23.5% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 43.5% | ||
| Q3 25 | 2.0% | 64.4% | ||
| Q2 25 | 1.1% | 36.6% | ||
| Q1 25 | 1.4% | 26.4% | ||
| Q4 24 | 1.1% | 46.8% | ||
| Q3 24 | 0.8% | 79.7% | ||
| Q2 24 | 0.8% | 59.7% |
| Q1 26 | 3.55× | — | ||
| Q4 25 | 0.88× | 1.51× | ||
| Q3 25 | 1.09× | 2.21× | ||
| Q2 25 | 1.49× | 2.59× | ||
| Q1 25 | 1.76× | 1.17× | ||
| Q4 24 | 1.22× | 4.89× | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 1.10× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FFIV
Segment breakdown not available.
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% |
