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Side-by-side financial comparison of Federal Realty Investment Trust (FRT) 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 $336.0M, roughly 1.3× Federal Realty Investment Trust). Federal Realty Investment Trust runs the higher net margin — 38.6% vs 35.7%, a 2.9% gap on every dollar of revenue. On growth, Federal Realty Investment Trust posted the faster year-over-year revenue change (8.7% vs 1.7%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs 6.5%).
Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California, and South Florida.
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.
FRT vs NFG — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $336.0M | $425.9M |
| Net Profit | $129.7M | $152.0M |
| Gross Margin | — | — |
| Operating Margin | 53.8% | 81.5% |
| Net Margin | 38.6% | 35.7% |
| Revenue YoY | 8.7% | 1.7% |
| Net Profit YoY | 103.5% | — |
| EPS (diluted) | $1.49 | $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 | $336.0M | $425.9M | ||
| Q4 25 | $336.0M | $637.9M | ||
| Q3 25 | $322.3M | $443.1M | ||
| Q2 25 | $311.5M | $527.4M | ||
| Q1 25 | $309.2M | $734.8M | ||
| Q4 24 | $311.4M | $513.8M | ||
| Q3 24 | $303.6M | $310.0M | ||
| Q2 24 | $296.1M | $338.6M |
| Q1 26 | $129.7M | $152.0M | ||
| Q4 25 | $129.7M | $181.6M | ||
| Q3 25 | $61.6M | $107.3M | ||
| Q2 25 | $155.9M | $149.8M | ||
| Q1 25 | $63.8M | $216.4M | ||
| Q4 24 | $65.5M | $45.0M | ||
| Q3 24 | $61.0M | $-167.6M | ||
| Q2 24 | $112.0M | $-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 | 53.8% | 81.5% | ||
| Q4 25 | 53.8% | 43.3% | ||
| Q3 25 | 34.3% | 40.6% | ||
| Q2 25 | 65.1% | 43.7% | ||
| Q1 25 | 35.0% | 43.2% | ||
| Q4 24 | 35.1% | 16.8% | ||
| Q3 24 | 34.9% | -63.4% | ||
| Q2 24 | 53.0% | -15.2% |
| Q1 26 | 38.6% | 35.7% | ||
| Q4 25 | 38.6% | 28.5% | ||
| Q3 25 | 19.1% | 24.2% | ||
| Q2 25 | 50.0% | 28.4% | ||
| Q1 25 | 20.6% | 29.4% | ||
| Q4 24 | 21.0% | 8.8% | ||
| Q3 24 | 20.1% | -54.1% | ||
| Q2 24 | 37.8% | -16.0% |
| Q1 26 | $1.49 | $1.59 | ||
| Q4 25 | $1.49 | $1.98 | ||
| Q3 25 | $0.69 | $1.18 | ||
| Q2 25 | $1.78 | $1.64 | ||
| Q1 25 | $0.72 | $2.37 | ||
| Q4 24 | $0.74 | $0.49 | ||
| Q3 24 | $0.70 | $-1.81 | ||
| Q2 24 | $1.32 | $-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 | $107.4M | — |
| Total DebtLower is stronger | $5.0B | $300.0M |
| Stockholders' EquityBook value | $3.2B | — |
| Total Assets | $9.1B | $9.1B |
| Debt / EquityLower = less leverage | 1.53× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $107.4M | — | ||
| Q4 25 | $107.4M | $271.4M | ||
| Q3 25 | $111.3M | $43.2M | ||
| Q2 25 | $177.0M | $39.3M | ||
| Q1 25 | $109.2M | $40.0M | ||
| Q4 24 | $123.4M | $48.7M | ||
| Q3 24 | $97.0M | $38.2M | ||
| Q2 24 | $103.2M | $81.4M |
| Q1 26 | $5.0B | $300.0M | ||
| Q4 25 | $5.0B | $2.7B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | $4.5B | $2.7B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.7B |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $3.6B | ||
| Q3 25 | $3.2B | $3.1B | ||
| Q2 25 | $3.2B | $3.0B | ||
| Q1 25 | $3.2B | $2.8B | ||
| Q4 24 | $3.2B | $-76.2M | ||
| Q3 24 | $3.1B | $-15.5M | ||
| Q2 24 | $3.0B | $5.0M |
| Q1 26 | $9.1B | $9.1B | ||
| Q4 25 | $9.1B | $9.2B | ||
| Q3 25 | $8.9B | $8.7B | ||
| Q2 25 | $8.6B | $8.4B | ||
| Q1 25 | $8.6B | $8.5B | ||
| Q4 24 | $8.5B | $8.3B | ||
| Q3 24 | $8.5B | $8.3B | ||
| Q2 24 | $8.4B | $8.5B |
| Q1 26 | 1.53× | — | ||
| Q4 25 | 1.53× | 0.75× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | 1.42× | — | ||
| 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 | — | $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 | $622.4M | $274.9M | ||
| Q3 25 | $147.8M | $237.8M | ||
| Q2 25 | $150.7M | $388.4M | ||
| Q1 25 | $179.0M | $253.8M | ||
| Q4 24 | $574.6M | $220.1M | ||
| Q3 24 | $144.1M | $197.9M | ||
| Q2 24 | $169.7M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-2.7M | ||
| Q3 25 | — | $-47.8M | ||
| Q2 25 | — | $195.3M | ||
| Q1 25 | — | $59.9M | ||
| Q4 24 | — | $-20.3M | ||
| Q3 24 | — | $-49.1M | ||
| Q2 24 | — | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.4% | ||
| Q3 25 | — | -10.8% | ||
| Q2 25 | — | 37.0% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | -4.0% | ||
| Q3 24 | — | -15.8% | ||
| Q2 24 | — | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | 64.4% | ||
| Q2 25 | — | 36.6% | ||
| Q1 25 | — | 26.4% | ||
| Q4 24 | — | 46.8% | ||
| Q3 24 | — | 79.7% | ||
| Q2 24 | — | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | 4.80× | 1.51× | ||
| Q3 25 | 2.40× | 2.21× | ||
| Q2 25 | 0.97× | 2.59× | ||
| Q1 25 | 2.81× | 1.17× | ||
| Q4 24 | 8.77× | 4.89× | ||
| Q3 24 | 2.36× | — | ||
| Q2 24 | 1.52× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FRT
Segment breakdown not available.
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
