vs
Side-by-side financial comparison of Forestar Group Inc. (FOR) 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 $273.0M, roughly 1.6× Forestar Group Inc.). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 5.6%, a 30.1% gap on every dollar of revenue. On growth, Forestar Group Inc. posted the faster year-over-year revenue change (9.0% vs 1.7%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs -9.6%).
Forestar Group Inc. is a residential lot development company based in Arlington, Texas. The company has operations in 51 markets in 21 states and delivered 11,518 residential lots during the twelve-month period ended December 31, 2020. The company is publicly traded on the New York Stock Exchange and in October 2017 became a majority-owned subsidiary of D.R. Horton, Inc., the largest homebuilder by volume in the United States since 2002. The company primarily acquires entitled real estate and...
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.
FOR vs NFG — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $273.0M | $425.9M |
| Net Profit | $15.4M | $152.0M |
| Gross Margin | 20.1% | — |
| Operating Margin | 7.6% | 81.5% |
| Net Margin | 5.6% | 35.7% |
| Revenue YoY | 9.0% | 1.7% |
| Net Profit YoY | -6.7% | — |
| EPS (diluted) | $0.30 | $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 | $273.0M | $637.9M | ||
| Q3 25 | $670.5M | $443.1M | ||
| Q2 25 | $390.5M | $527.4M | ||
| Q1 25 | $351.0M | $734.8M | ||
| Q4 24 | $250.4M | $513.8M | ||
| Q3 24 | $551.3M | $310.0M | ||
| Q2 24 | $318.4M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | $15.4M | $181.6M | ||
| Q3 25 | $86.9M | $107.3M | ||
| Q2 25 | $32.9M | $149.8M | ||
| Q1 25 | $31.6M | $216.4M | ||
| Q4 24 | $16.5M | $45.0M | ||
| Q3 24 | $81.5M | $-167.6M | ||
| Q2 24 | $38.7M | $-54.2M |
| Q1 26 | — | — | ||
| Q4 25 | 20.1% | 86.6% | ||
| Q3 25 | 22.3% | — | ||
| Q2 25 | 20.4% | 94.7% | ||
| Q1 25 | 22.6% | 81.6% | ||
| Q4 24 | 22.0% | 87.3% | ||
| Q3 24 | 23.9% | — | ||
| Q2 24 | 22.5% | 98.5% |
| Q1 26 | — | 81.5% | ||
| Q4 25 | 7.6% | 43.3% | ||
| Q3 25 | 16.9% | 40.6% | ||
| Q2 25 | 11.2% | 43.7% | ||
| Q1 25 | 11.6% | 43.2% | ||
| Q4 24 | 8.7% | 16.8% | ||
| Q3 24 | 19.7% | -63.4% | ||
| Q2 24 | 16.2% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | 5.6% | 28.5% | ||
| Q3 25 | 13.0% | 24.2% | ||
| Q2 25 | 8.4% | 28.4% | ||
| Q1 25 | 9.0% | 29.4% | ||
| Q4 24 | 6.6% | 8.8% | ||
| Q3 24 | 14.8% | -54.1% | ||
| Q2 24 | 12.2% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | $0.30 | $1.98 | ||
| Q3 25 | $1.70 | $1.18 | ||
| Q2 25 | $0.65 | $1.64 | ||
| Q1 25 | $0.62 | $2.37 | ||
| Q4 24 | $0.32 | $0.49 | ||
| Q3 24 | $1.59 | $-1.81 | ||
| Q2 24 | $0.76 | $-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 | $211.7M | — |
| Total DebtLower is stronger | $793.2M | $300.0M |
| Stockholders' EquityBook value | $1.8B | — |
| Total Assets | $3.2B | $9.1B |
| Debt / EquityLower = less leverage | 0.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $211.7M | $271.4M | ||
| Q3 25 | $379.2M | $43.2M | ||
| Q2 25 | $189.2M | $39.3M | ||
| Q1 25 | $174.3M | $40.0M | ||
| Q4 24 | $132.0M | $48.7M | ||
| Q3 24 | $481.2M | $38.2M | ||
| Q2 24 | $359.2M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | $793.2M | $2.7B | ||
| Q3 25 | $802.7M | $2.7B | ||
| Q2 25 | $872.8M | $2.7B | ||
| Q1 25 | $872.5M | $2.7B | ||
| Q4 24 | $806.8M | $2.7B | ||
| Q3 24 | $706.4M | $2.7B | ||
| Q2 24 | $706.1M | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $3.6B | ||
| Q3 25 | $1.8B | $3.1B | ||
| Q2 25 | $1.7B | $3.0B | ||
| Q1 25 | $1.6B | $2.8B | ||
| Q4 24 | $1.6B | $-76.2M | ||
| Q3 24 | $1.6B | $-15.5M | ||
| Q2 24 | $1.5B | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $3.2B | $9.2B | ||
| Q3 25 | $3.1B | $8.7B | ||
| Q2 25 | $3.1B | $8.4B | ||
| Q1 25 | $3.0B | $8.5B | ||
| Q4 24 | $3.0B | $8.3B | ||
| Q3 24 | $2.8B | $8.3B | ||
| Q2 24 | $2.7B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.44× | 0.75× | ||
| Q3 25 | 0.45× | 0.87× | ||
| Q2 25 | 0.52× | 0.90× | ||
| Q1 25 | 0.53× | 0.99× | ||
| Q4 24 | 0.50× | — | ||
| Q3 24 | 0.44× | — | ||
| Q2 24 | 0.47× | 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 | $-157.0M | $657.3M |
| Free Cash FlowOCF − Capex | $-157.1M | — |
| FCF MarginFCF / Revenue | -57.5% | — |
| Capex IntensityCapex / Revenue | 0.0% | 117.0% |
| Cash ConversionOCF / Net Profit | -10.19× | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $93.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | $-157.0M | $274.9M | ||
| Q3 25 | $256.3M | $237.8M | ||
| Q2 25 | $15.8M | $388.4M | ||
| Q1 25 | $-19.8M | $253.8M | ||
| Q4 24 | $-450.0M | $220.1M | ||
| Q3 24 | $119.2M | $197.9M | ||
| Q2 24 | $-61.7M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $-157.1M | $-2.7M | ||
| Q3 25 | $255.6M | $-47.8M | ||
| Q2 25 | $15.0M | $195.3M | ||
| Q1 25 | $-20.5M | $59.9M | ||
| Q4 24 | — | $-20.3M | ||
| Q3 24 | $118.4M | $-49.1M | ||
| Q2 24 | $-62.3M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | -57.5% | -0.4% | ||
| Q3 25 | 38.1% | -10.8% | ||
| Q2 25 | 3.8% | 37.0% | ||
| Q1 25 | -5.8% | 8.2% | ||
| Q4 24 | — | -4.0% | ||
| Q3 24 | 21.5% | -15.8% | ||
| Q2 24 | -19.6% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 0.0% | 43.5% | ||
| Q3 25 | 0.1% | 64.4% | ||
| Q2 25 | 0.2% | 36.6% | ||
| Q1 25 | 0.2% | 26.4% | ||
| Q4 24 | 0.0% | 46.8% | ||
| Q3 24 | 0.1% | 79.7% | ||
| Q2 24 | 0.2% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | -10.19× | 1.51× | ||
| Q3 25 | 2.95× | 2.21× | ||
| Q2 25 | 0.48× | 2.59× | ||
| Q1 25 | -0.63× | 1.17× | ||
| Q4 24 | -27.27× | 4.89× | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | -1.59× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
