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Side-by-side financial comparison of HUTCHMED (China) Ltd (HCM) 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 $270.8M, roughly 1.6× HUTCHMED (China) Ltd). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 0.7%, a 35.0% gap on every dollar of revenue. On growth, NATIONAL FUEL GAS CO posted the faster year-over-year revenue change (1.7% vs -16.5%).
HUTCHMED (China) LtdHCMEarnings & Financial Report
HUTCHMED (China) Ltd is a biopharmaceutical firm focused on discovering, developing and commercializing targeted and immunotherapies for oncology and immunological diseases. It operates across China and global markets, with multiple marketed oncology drugs and a robust pipeline of late-stage clinical candidates addressing unmet patient needs.
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.
HCM vs NFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $270.8M | $425.9M |
| Net Profit | $2.0M | $152.0M |
| Gross Margin | 37.7% | — |
| Operating Margin | -13.2% | 81.5% |
| Net Margin | 0.7% | 35.7% |
| Revenue YoY | -16.5% | 1.7% |
| Net Profit YoY | -83.6% | — |
| EPS (diluted) | $0.00 | $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 | $270.8M | $637.9M | ||
| Q3 25 | — | $443.1M | ||
| Q2 25 | $277.7M | $527.4M | ||
| Q1 25 | $324.5M | $734.8M | ||
| Q4 24 | — | $513.8M | ||
| Q3 24 | — | $310.0M | ||
| Q2 24 | $305.7M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | $2.0M | $181.6M | ||
| Q3 25 | — | $107.3M | ||
| Q2 25 | $455.0M | $149.8M | ||
| Q1 25 | $11.9M | $216.4M | ||
| Q4 24 | — | $45.0M | ||
| Q3 24 | — | $-167.6M | ||
| Q2 24 | $25.8M | $-54.2M |
| Q1 26 | — | — | ||
| Q4 25 | 37.7% | 86.6% | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.1% | 94.7% | ||
| Q1 25 | 48.0% | 81.6% | ||
| Q4 24 | — | 87.3% | ||
| Q3 24 | — | — | ||
| Q2 24 | 41.1% | 98.5% |
| Q1 26 | — | 81.5% | ||
| Q4 25 | -13.2% | 43.3% | ||
| Q3 25 | — | 40.6% | ||
| Q2 25 | -1.3% | 43.7% | ||
| Q1 25 | -5.0% | 43.2% | ||
| Q4 24 | — | 16.8% | ||
| Q3 24 | — | -63.4% | ||
| Q2 24 | -9.0% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | 0.7% | 28.5% | ||
| Q3 25 | — | 24.2% | ||
| Q2 25 | 163.8% | 28.4% | ||
| Q1 25 | 3.7% | 29.4% | ||
| Q4 24 | — | 8.8% | ||
| Q3 24 | — | -54.1% | ||
| Q2 24 | 8.4% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | $0.00 | $1.98 | ||
| Q3 25 | — | $1.18 | ||
| Q2 25 | $0.52 | $1.64 | ||
| Q1 25 | $0.01 | $2.37 | ||
| Q4 24 | — | $0.49 | ||
| Q3 24 | — | $-1.81 | ||
| Q2 24 | $0.03 | $-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 | $1.4B | — |
| Total DebtLower is stronger | $93.2M | $300.0M |
| Stockholders' EquityBook value | $1.2B | — |
| Total Assets | $1.8B | $9.1B |
| Debt / EquityLower = less leverage | 0.08× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | $271.4M | ||
| Q3 25 | — | $43.2M | ||
| Q2 25 | $1.4B | $39.3M | ||
| Q1 25 | $836.1M | $40.0M | ||
| Q4 24 | — | $48.7M | ||
| Q3 24 | — | $38.2M | ||
| Q2 24 | $802.5M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | $93.2M | $2.7B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | $93.4M | $2.7B | ||
| Q1 25 | $82.8M | $2.7B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | $82.1M | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $3.6B | ||
| Q3 25 | — | $3.1B | ||
| Q2 25 | $1.2B | $3.0B | ||
| Q1 25 | $759.9M | $2.8B | ||
| Q4 24 | — | $-76.2M | ||
| Q3 24 | — | $-15.5M | ||
| Q2 24 | $740.1M | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $1.8B | $9.2B | ||
| Q3 25 | — | $8.7B | ||
| Q2 25 | $1.8B | $8.4B | ||
| Q1 25 | $1.3B | $8.5B | ||
| Q4 24 | — | $8.3B | ||
| Q3 24 | — | $8.3B | ||
| Q2 24 | $1.3B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.08× | 0.75× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | 0.08× | 0.90× | ||
| Q1 25 | 0.11× | 0.99× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.11× | 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 | $8.2M | $657.3M |
| Free Cash FlowOCF − Capex | $3.4M | — |
| FCF MarginFCF / Revenue | 1.2% | — |
| Capex IntensityCapex / Revenue | 1.8% | 117.0% |
| Cash ConversionOCF / Net Profit | 4.21× | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $-96.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | $8.2M | $274.9M | ||
| Q3 25 | — | $237.8M | ||
| Q2 25 | $-72.9M | $388.4M | ||
| Q1 25 | $40.3M | $253.8M | ||
| Q4 24 | — | $220.1M | ||
| Q3 24 | — | $197.9M | ||
| Q2 24 | $-39.8M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $3.4M | $-2.7M | ||
| Q3 25 | — | $-47.8M | ||
| Q2 25 | $-82.2M | $195.3M | ||
| Q1 25 | $32.5M | $59.9M | ||
| Q4 24 | — | $-20.3M | ||
| Q3 24 | — | $-49.1M | ||
| Q2 24 | $-49.9M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | -0.4% | ||
| Q3 25 | — | -10.8% | ||
| Q2 25 | -29.6% | 37.0% | ||
| Q1 25 | 10.0% | 8.2% | ||
| Q4 24 | — | -4.0% | ||
| Q3 24 | — | -15.8% | ||
| Q2 24 | -16.3% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 1.8% | 43.5% | ||
| Q3 25 | — | 64.4% | ||
| Q2 25 | 3.3% | 36.6% | ||
| Q1 25 | 2.4% | 26.4% | ||
| Q4 24 | — | 46.8% | ||
| Q3 24 | — | 79.7% | ||
| Q2 24 | 3.3% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | 4.21× | 1.51× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | -0.16× | 2.59× | ||
| Q1 25 | 3.38× | 1.17× | ||
| Q4 24 | — | 4.89× | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.54× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCM
Segment breakdown not available.
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
