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Side-by-side financial comparison of FULTON FINANCIAL CORP (FULT) 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 $336.2M, roughly 1.3× FULTON FINANCIAL CORP). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 28.2%, a 7.5% gap on every dollar of revenue. On growth, FULTON FINANCIAL CORP posted the faster year-over-year revenue change (4.2% vs 1.7%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs 0.2%).
Fulton Financial Corporation is an American regional financial services holding company, headquartered in Lancaster, Pennsylvania.
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.
FULT vs NFG — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $336.2M | $425.9M |
| Net Profit | $94.8M | $152.0M |
| Gross Margin | — | — |
| Operating Margin | — | 81.5% |
| Net Margin | 28.2% | 35.7% |
| Revenue YoY | 4.2% | 1.7% |
| Net Profit YoY | 1.9% | — |
| EPS (diluted) | $0.55 | $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 | $336.2M | $425.9M | ||
| Q4 25 | $336.0M | $637.9M | ||
| Q3 25 | $334.6M | $443.1M | ||
| Q2 25 | $324.1M | $527.4M | ||
| Q1 25 | $318.4M | $734.8M | ||
| Q4 24 | $319.6M | $513.8M | ||
| Q3 24 | $317.7M | $310.0M | ||
| Q2 24 | $334.7M | $338.6M |
| Q1 26 | $94.8M | $152.0M | ||
| Q4 25 | $99.0M | $181.6M | ||
| Q3 25 | $100.5M | $107.3M | ||
| Q2 25 | $99.2M | $149.8M | ||
| Q1 25 | $93.0M | $216.4M | ||
| Q4 24 | $68.6M | $45.0M | ||
| Q3 24 | $63.2M | $-167.6M | ||
| Q2 24 | $95.0M | $-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 | 35.7% | 43.3% | ||
| Q3 25 | 38.2% | 40.6% | ||
| Q2 25 | 37.8% | 43.7% | ||
| Q1 25 | 36.1% | 43.2% | ||
| Q4 24 | 27.0% | 16.8% | ||
| Q3 24 | 25.1% | -63.4% | ||
| Q2 24 | 30.8% | -15.2% |
| Q1 26 | 28.2% | 35.7% | ||
| Q4 25 | 29.5% | 28.5% | ||
| Q3 25 | 30.0% | 24.2% | ||
| Q2 25 | 30.6% | 28.4% | ||
| Q1 25 | 29.2% | 29.4% | ||
| Q4 24 | 21.5% | 8.8% | ||
| Q3 24 | 19.9% | -54.1% | ||
| Q2 24 | 28.4% | -16.0% |
| Q1 26 | $0.55 | $1.59 | ||
| Q4 25 | $0.53 | $1.98 | ||
| Q3 25 | $0.53 | $1.18 | ||
| Q2 25 | $0.53 | $1.64 | ||
| Q1 25 | $0.49 | $2.37 | ||
| Q4 24 | $0.36 | $0.49 | ||
| Q3 24 | $0.33 | $-1.81 | ||
| Q2 24 | $0.52 | $-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 | — | $300.0M |
| Stockholders' EquityBook value | $3.5B | — |
| Total Assets | $32.2B | $9.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $271.4M | ||
| Q3 25 | — | $43.2M | ||
| Q2 25 | — | $39.3M | ||
| Q1 25 | — | $40.0M | ||
| Q4 24 | — | $48.7M | ||
| Q3 24 | — | $38.2M | ||
| Q2 24 | — | $81.4M |
| Q1 26 | — | $300.0M | ||
| 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 | $3.5B | — | ||
| Q4 25 | $3.5B | $3.6B | ||
| Q3 25 | $3.4B | $3.1B | ||
| Q2 25 | $3.3B | $3.0B | ||
| Q1 25 | $3.3B | $2.8B | ||
| Q4 24 | $3.2B | $-76.2M | ||
| Q3 24 | $3.2B | $-15.5M | ||
| Q2 24 | $3.1B | $5.0M |
| Q1 26 | $32.2B | $9.1B | ||
| Q4 25 | $32.1B | $9.2B | ||
| Q3 25 | $32.0B | $8.7B | ||
| Q2 25 | $32.0B | $8.4B | ||
| Q1 25 | $32.1B | $8.5B | ||
| Q4 24 | $32.1B | $8.3B | ||
| Q3 24 | $32.2B | $8.3B | ||
| Q2 24 | $31.8B | $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 | — | $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 | $304.5M | $274.9M | ||
| Q3 25 | $116.1M | $237.8M | ||
| Q2 25 | $91.7M | $388.4M | ||
| Q1 25 | $703.0K | $253.8M | ||
| Q4 24 | $416.6M | $220.1M | ||
| Q3 24 | $-22.0M | $197.9M | ||
| Q2 24 | $157.8M | $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 | 3.08× | 1.51× | ||
| Q3 25 | 1.16× | 2.21× | ||
| Q2 25 | 0.92× | 2.59× | ||
| Q1 25 | 0.01× | 1.17× | ||
| Q4 24 | 6.07× | 4.89× | ||
| Q3 24 | -0.35× | — | ||
| Q2 24 | 1.66× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FULT
Segment breakdown not available.
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
