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Side-by-side financial comparison of FLOWERS FOODS INC (FLO) and NATIONAL FUEL GAS CO (NFG). Click either name above to swap in a different company.
FLOWERS FOODS INC is the larger business by last-quarter revenue ($1.2B vs $425.9M, roughly 2.9× NATIONAL FUEL GAS CO). On growth, FLOWERS FOODS INC posted the faster year-over-year revenue change (11.0% vs 1.7%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs -11.6%).
Flowers Foods, headquartered in Thomasville, Georgia, is a producer and marketer of packaged bakery foods in the United States. The company operates 44 bakeries across 19 states that produce a variety of products, including bread, buns, rolls, snack cakes, pastries, and tortillas. As of February 2013, Flowers Foods had grown to be the "second-largest baking company in the United States."
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.
FLO vs NFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $425.9M |
| Net Profit | — | $152.0M |
| Gross Margin | — | — |
| Operating Margin | — | 81.5% |
| Net Margin | — | 35.7% |
| Revenue YoY | 11.0% | 1.7% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $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 | $1.2B | $637.9M | ||
| Q3 25 | $1.2B | $443.1M | ||
| Q2 25 | $1.6B | $527.4M | ||
| Q1 25 | — | $734.8M | ||
| Q4 24 | $1.2B | $513.8M | ||
| Q3 24 | $1.2B | $310.0M | ||
| Q2 24 | $1.6B | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | $39.5M | $181.6M | ||
| Q3 25 | $58.4M | $107.3M | ||
| Q2 25 | $53.0M | $149.8M | ||
| Q1 25 | — | $216.4M | ||
| Q4 24 | $65.0M | $45.0M | ||
| Q3 24 | $67.0M | $-167.6M | ||
| Q2 24 | $73.0M | $-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 | 5.4% | 43.3% | ||
| Q3 25 | 7.5% | 40.6% | ||
| Q2 25 | 5.5% | 43.7% | ||
| Q1 25 | — | 43.2% | ||
| Q4 24 | 7.6% | 16.8% | ||
| Q3 24 | 7.8% | -63.4% | ||
| Q2 24 | 6.4% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | 3.2% | 28.5% | ||
| Q3 25 | 4.7% | 24.2% | ||
| Q2 25 | 3.4% | 28.4% | ||
| Q1 25 | — | 29.4% | ||
| Q4 24 | 5.5% | 8.8% | ||
| Q3 24 | 5.5% | -54.1% | ||
| Q2 24 | 4.6% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | $0.19 | $1.98 | ||
| Q3 25 | $0.28 | $1.18 | ||
| Q2 25 | $0.25 | $1.64 | ||
| Q1 25 | — | $2.37 | ||
| Q4 24 | $0.31 | $0.49 | ||
| Q3 24 | $0.32 | $-1.81 | ||
| Q2 24 | $0.34 | $-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 | $12.1M | — |
| Total DebtLower is stronger | — | $300.0M |
| Stockholders' EquityBook value | — | — |
| Total Assets | $4.2B | $9.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $16.7M | $271.4M | ||
| Q3 25 | $11.0M | $43.2M | ||
| Q2 25 | $7.3M | $39.3M | ||
| Q1 25 | — | $40.0M | ||
| Q4 24 | $15.0M | $48.7M | ||
| Q3 24 | $6.9M | $38.2M | ||
| Q2 24 | $15.8M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | $1.8B | $2.7B | ||
| Q3 25 | $1.7B | $2.7B | ||
| Q2 25 | $1.8B | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | $1.1B | $2.7B | ||
| Q3 24 | $1.1B | $2.7B | ||
| Q2 24 | $1.0B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | $3.6B | ||
| Q3 25 | $1.4B | $3.1B | ||
| Q2 25 | $1.4B | $3.0B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $1.4B | $-76.2M | ||
| Q3 24 | $1.4B | $-15.5M | ||
| Q2 24 | $1.4B | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $4.3B | $9.2B | ||
| Q3 25 | $4.3B | $8.7B | ||
| Q2 25 | $4.3B | $8.4B | ||
| Q1 25 | — | $8.5B | ||
| Q4 24 | $3.4B | $8.3B | ||
| Q3 24 | $3.4B | $8.3B | ||
| Q2 24 | $3.4B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.25× | 0.75× | ||
| Q3 25 | 1.23× | 0.87× | ||
| Q2 25 | 1.26× | 0.90× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | 0.75× | — | ||
| Q3 24 | 0.77× | — | ||
| Q2 24 | 0.76× | 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 | $125.4M | $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 | $54.4M | $274.9M | ||
| Q3 25 | $130.8M | $237.8M | ||
| Q2 25 | $135.6M | $388.4M | ||
| Q1 25 | — | $253.8M | ||
| Q4 24 | $113.9M | $220.1M | ||
| Q3 24 | $63.3M | $197.9M | ||
| Q2 24 | $105.1M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $30.4M | $-2.7M | ||
| Q3 25 | $100.0M | $-47.8M | ||
| Q2 25 | $110.1M | $195.3M | ||
| Q1 25 | — | $59.9M | ||
| Q4 24 | $88.6M | $-20.3M | ||
| Q3 24 | $35.4M | $-49.1M | ||
| Q2 24 | $71.8M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | 2.5% | -0.4% | ||
| Q3 25 | 8.0% | -10.8% | ||
| Q2 25 | 7.1% | 37.0% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | 7.4% | -4.0% | ||
| Q3 24 | 2.9% | -15.8% | ||
| Q2 24 | 4.6% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 2.0% | 43.5% | ||
| Q3 25 | 2.5% | 64.4% | ||
| Q2 25 | 1.6% | 36.6% | ||
| Q1 25 | — | 26.4% | ||
| Q4 24 | 2.1% | 46.8% | ||
| Q3 24 | 2.3% | 79.7% | ||
| Q2 24 | 2.1% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | 1.38× | 1.51× | ||
| Q3 25 | 2.24× | 2.21× | ||
| Q2 25 | 2.56× | 2.59× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | 1.75× | 4.89× | ||
| Q3 24 | 0.94× | — | ||
| Q2 24 | 1.44× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLO
Segment breakdown not available.
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
