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Side-by-side financial comparison of FOX FACTORY HOLDING CORP (FOXF) 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 $376.4M, roughly 1.1× FOX FACTORY HOLDING CORP). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs -0.2%, a 35.9% gap on every dollar of revenue. On growth, FOX FACTORY HOLDING CORP posted the faster year-over-year revenue change (4.8% vs 1.7%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs 6.4%).
Fox Factory Holding Corp. is an American company best known for their Fox Racing Shox brand of off-road racing suspension components.
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.
FOXF vs NFG — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $376.4M | $425.9M |
| Net Profit | $-634.0K | $152.0M |
| Gross Margin | 30.4% | — |
| Operating Margin | 4.0% | 81.5% |
| Net Margin | -0.2% | 35.7% |
| Revenue YoY | 4.8% | 1.7% |
| Net Profit YoY | -113.3% | — |
| EPS (diluted) | $-0.02 | $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 | $376.4M | $637.9M | ||
| Q3 25 | $374.9M | $443.1M | ||
| Q2 25 | $355.0M | $527.4M | ||
| Q1 25 | $352.8M | $734.8M | ||
| Q4 24 | — | $513.8M | ||
| Q3 24 | $359.1M | $310.0M | ||
| Q2 24 | $348.5M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | $-634.0K | $181.6M | ||
| Q3 25 | $2.7M | $107.3M | ||
| Q2 25 | $-259.7M | $149.8M | ||
| Q1 25 | $-141.0K | $216.4M | ||
| Q4 24 | — | $45.0M | ||
| Q3 24 | $4.8M | $-167.6M | ||
| Q2 24 | $5.4M | $-54.2M |
| Q1 26 | — | — | ||
| Q4 25 | 30.4% | 86.6% | ||
| Q3 25 | 31.2% | — | ||
| Q2 25 | 30.9% | 94.7% | ||
| Q1 25 | 28.9% | 81.6% | ||
| Q4 24 | — | 87.3% | ||
| Q3 24 | 29.9% | — | ||
| Q2 24 | 31.8% | 98.5% |
| Q1 26 | — | 81.5% | ||
| Q4 25 | 4.0% | 43.3% | ||
| Q3 25 | 4.9% | 40.6% | ||
| Q2 25 | -70.6% | 43.7% | ||
| Q1 25 | 3.2% | 43.2% | ||
| Q4 24 | — | 16.8% | ||
| Q3 24 | 5.2% | -63.4% | ||
| Q2 24 | 5.3% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | -0.2% | 28.5% | ||
| Q3 25 | 0.7% | 24.2% | ||
| Q2 25 | -73.1% | 28.4% | ||
| Q1 25 | -0.0% | 29.4% | ||
| Q4 24 | — | 8.8% | ||
| Q3 24 | 1.3% | -54.1% | ||
| Q2 24 | 1.6% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | $-0.02 | $1.98 | ||
| Q3 25 | $0.07 | $1.18 | ||
| Q2 25 | $-6.23 | $1.64 | ||
| Q1 25 | $0.00 | $2.37 | ||
| Q4 24 | — | $0.49 | ||
| Q3 24 | $0.11 | $-1.81 | ||
| Q2 24 | $0.13 | $-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 | — | — |
| Total DebtLower is stronger | $536.7M | $300.0M |
| Stockholders' EquityBook value | $956.0M | — |
| Total Assets | $2.0B | $9.1B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $271.4M | ||
| Q3 25 | — | $43.2M | ||
| Q2 25 | — | $39.3M | ||
| Q1 25 | $71.7M | $40.0M | ||
| Q4 24 | — | $48.7M | ||
| Q3 24 | — | $38.2M | ||
| Q2 24 | — | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | $536.7M | $2.7B | ||
| Q3 25 | $541.8M | $2.7B | ||
| Q2 25 | $546.9M | $2.7B | ||
| Q1 25 | $552.1M | $2.7B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | $558.4M | $2.7B | ||
| Q2 24 | $564.1M | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | $956.0M | $3.6B | ||
| Q3 25 | $958.7M | $3.1B | ||
| Q2 25 | $939.9M | $3.0B | ||
| Q1 25 | $1.2B | $2.8B | ||
| Q4 24 | — | $-76.2M | ||
| Q3 24 | $1.2B | $-15.5M | ||
| Q2 24 | $1.2B | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $2.0B | $9.2B | ||
| Q3 25 | $2.0B | $8.7B | ||
| Q2 25 | $1.9B | $8.4B | ||
| Q1 25 | $2.2B | $8.5B | ||
| Q4 24 | — | $8.3B | ||
| Q3 24 | $2.3B | $8.3B | ||
| Q2 24 | $2.3B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.56× | 0.75× | ||
| Q3 25 | 0.57× | 0.87× | ||
| Q2 25 | 0.58× | 0.90× | ||
| Q1 25 | 0.46× | 0.99× | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.47× | — | ||
| 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 | $5.3M | $657.3M |
| Free Cash FlowOCF − Capex | $-2.5M | — |
| FCF MarginFCF / Revenue | -0.7% | — |
| Capex IntensityCapex / Revenue | 2.1% | 117.0% |
| Cash ConversionOCF / Net Profit | — | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $85.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | $5.3M | $274.9M | ||
| Q3 25 | $36.8M | $237.8M | ||
| Q2 25 | $680.0K | $388.4M | ||
| Q1 25 | $81.7M | $253.8M | ||
| Q4 24 | — | $220.1M | ||
| Q3 24 | $14.1M | $197.9M | ||
| Q2 24 | $26.7M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.5M | $-2.7M | ||
| Q3 25 | $24.6M | $-47.8M | ||
| Q2 25 | $-6.5M | $195.3M | ||
| Q1 25 | $69.8M | $59.9M | ||
| Q4 24 | — | $-20.3M | ||
| Q3 24 | $3.2M | $-49.1M | ||
| Q2 24 | $15.4M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | -0.7% | -0.4% | ||
| Q3 25 | 6.6% | -10.8% | ||
| Q2 25 | -1.8% | 37.0% | ||
| Q1 25 | 19.8% | 8.2% | ||
| Q4 24 | — | -4.0% | ||
| Q3 24 | 0.9% | -15.8% | ||
| Q2 24 | 4.4% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 2.1% | 43.5% | ||
| Q3 25 | 3.3% | 64.4% | ||
| Q2 25 | 2.0% | 36.6% | ||
| Q1 25 | 3.4% | 26.4% | ||
| Q4 24 | — | 46.8% | ||
| Q3 24 | 3.0% | 79.7% | ||
| Q2 24 | 3.2% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | — | 1.51× | ||
| Q3 25 | 13.41× | 2.21× | ||
| Q2 25 | — | 2.59× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | — | 4.89× | ||
| Q3 24 | 2.94× | — | ||
| Q2 24 | 4.94× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FOXF
| Specialty Sports Group | $132.7M | 35% |
| Powered Vehicles Group | $125.9M | 33% |
| Aftermarket Applications Group | $117.8M | 31% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
