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Side-by-side financial comparison of Acushnet Holdings Corp. (GOLF) and NATIONAL FUEL GAS CO (NFG). Click either name above to swap in a different company.
Acushnet Holdings Corp. is the larger business by last-quarter revenue ($477.2M vs $425.9M, roughly 1.1× NATIONAL FUEL GAS CO). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs -7.3%, a 43.0% gap on every dollar of revenue. On growth, Acushnet Holdings Corp. posted the faster year-over-year revenue change (7.2% vs 1.7%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs -17.9%).
The Acushnet Company is an American company focused on the golf market. The company operates a series of brands that manufacture golf equipment, clothing and accessories.
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.
GOLF vs NFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $477.2M | $425.9M |
| Net Profit | $-34.9M | $152.0M |
| Gross Margin | 44.1% | — |
| Operating Margin | -3.8% | 81.5% |
| Net Margin | -7.3% | 35.7% |
| Revenue YoY | 7.2% | 1.7% |
| Net Profit YoY | -3027.3% | — |
| EPS (diluted) | $-0.57 | $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 | $477.2M | $637.9M | ||
| Q3 25 | $657.7M | $443.1M | ||
| Q2 25 | $720.5M | $527.4M | ||
| Q1 25 | $703.4M | $734.8M | ||
| Q4 24 | $445.2M | $513.8M | ||
| Q3 24 | $620.5M | $310.0M | ||
| Q2 24 | $683.9M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | $-34.9M | $181.6M | ||
| Q3 25 | $48.5M | $107.3M | ||
| Q2 25 | $75.6M | $149.8M | ||
| Q1 25 | $99.4M | $216.4M | ||
| Q4 24 | $-1.1M | $45.0M | ||
| Q3 24 | $56.2M | $-167.6M | ||
| Q2 24 | $71.4M | $-54.2M |
| Q1 26 | — | — | ||
| Q4 25 | 44.1% | 86.6% | ||
| Q3 25 | 48.5% | — | ||
| Q2 25 | 49.2% | 94.7% | ||
| Q1 25 | 47.9% | 81.6% | ||
| Q4 24 | 22.6% | 87.3% | ||
| Q3 24 | 54.4% | — | ||
| Q2 24 | 54.4% | 98.5% |
| Q1 26 | — | 81.5% | ||
| Q4 25 | -3.8% | 43.3% | ||
| Q3 25 | 14.1% | 40.6% | ||
| Q2 25 | 15.2% | 43.7% | ||
| Q1 25 | 16.3% | 43.2% | ||
| Q4 24 | -1.2% | 16.8% | ||
| Q3 24 | 13.2% | -63.4% | ||
| Q2 24 | 15.5% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | -7.3% | 28.5% | ||
| Q3 25 | 7.4% | 24.2% | ||
| Q2 25 | 10.5% | 28.4% | ||
| Q1 25 | 14.1% | 29.4% | ||
| Q4 24 | -0.3% | 8.8% | ||
| Q3 24 | 9.1% | -54.1% | ||
| Q2 24 | 10.4% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | $-0.57 | $1.98 | ||
| Q3 25 | $0.81 | $1.18 | ||
| Q2 25 | $1.25 | $1.64 | ||
| Q1 25 | $1.62 | $2.37 | ||
| Q4 24 | $0.02 | $0.49 | ||
| Q3 24 | $0.89 | $-1.81 | ||
| Q2 24 | $1.11 | $-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 | $926.2M | $300.0M |
| Stockholders' EquityBook value | $783.6M | — |
| Total Assets | $2.3B | $9.1B |
| Debt / EquityLower = less leverage | 1.18× | — |
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 | $926.2M | $2.7B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | $753.1M | $2.7B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | $783.6M | $3.6B | ||
| Q3 25 | $852.3M | $3.1B | ||
| Q2 25 | $808.5M | $3.0B | ||
| Q1 25 | $780.3M | $2.8B | ||
| Q4 24 | $765.2M | $-76.2M | ||
| Q3 24 | $863.9M | $-15.5M | ||
| Q2 24 | $863.7M | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $2.3B | $9.2B | ||
| Q3 25 | $2.4B | $8.7B | ||
| Q2 25 | $2.4B | $8.4B | ||
| Q1 25 | $2.4B | $8.5B | ||
| Q4 24 | $2.2B | $8.3B | ||
| Q3 24 | $2.3B | $8.3B | ||
| Q2 24 | $2.3B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.18× | 0.75× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | 0.98× | — | ||
| 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 | $-338.0K | $657.3M |
| Free Cash FlowOCF − Capex | $-23.3M | — |
| FCF MarginFCF / Revenue | -4.9% | — |
| Capex IntensityCapex / Revenue | 4.8% | 117.0% |
| Cash ConversionOCF / Net Profit | — | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $120.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | $-338.0K | $274.9M | ||
| Q3 25 | $163.1M | $237.8M | ||
| Q2 25 | $151.9M | $388.4M | ||
| Q1 25 | $-120.3M | $253.8M | ||
| Q4 24 | $-1.1M | $220.1M | ||
| Q3 24 | $144.1M | $197.9M | ||
| Q2 24 | $211.6M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $-23.3M | $-2.7M | ||
| Q3 25 | $136.9M | $-47.8M | ||
| Q2 25 | $138.0M | $195.3M | ||
| Q1 25 | $-131.5M | $59.9M | ||
| Q4 24 | $-33.2M | $-20.3M | ||
| Q3 24 | $123.7M | $-49.1M | ||
| Q2 24 | $196.8M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | -4.9% | -0.4% | ||
| Q3 25 | 20.8% | -10.8% | ||
| Q2 25 | 19.2% | 37.0% | ||
| Q1 25 | -18.7% | 8.2% | ||
| Q4 24 | -7.5% | -4.0% | ||
| Q3 24 | 19.9% | -15.8% | ||
| Q2 24 | 28.8% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 4.8% | 43.5% | ||
| Q3 25 | 4.0% | 64.4% | ||
| Q2 25 | 1.9% | 36.6% | ||
| Q1 25 | 1.6% | 26.4% | ||
| Q4 24 | 7.2% | 46.8% | ||
| Q3 24 | 3.3% | 79.7% | ||
| Q2 24 | 2.2% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | — | 1.51× | ||
| Q3 25 | 3.36× | 2.21× | ||
| Q2 25 | 2.01× | 2.59× | ||
| Q1 25 | -1.21× | 1.17× | ||
| Q4 24 | — | 4.89× | ||
| Q3 24 | 2.56× | — | ||
| Q2 24 | 2.96× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GOLF
| Titleist Golf Equipment | $293.8M | 62% |
| Footjoy Golf Wear | $102.0M | 21% |
| Other | $45.3M | 9% |
| Golf Gear | $36.1M | 8% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
