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Side-by-side financial comparison of Howard Hughes Holdings Inc. (HHH) 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 $235.9M, roughly 1.8× Howard Hughes Holdings Inc.). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 3.4%, a 32.3% gap on every dollar of revenue. On growth, Howard Hughes Holdings Inc. posted the faster year-over-year revenue change (18.4% vs 1.7%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs -13.8%).
Howard Hughes Holdings Inc., formerly the Howard Hughes Corporation, is a real estate development and management company based in The Woodlands, Texas. It was formed in 2010 as a spin-off from General Growth Properties (GGP). Most of its holdings are focused on several master-planned communities. It took its name from the original Howard Hughes Corporation, which had developed the planned community of Summerlin, Nevada, and later became a subsidiary of GGP.
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.
HHH vs NFG — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $235.9M | $425.9M |
| Net Profit | $8.1M | $152.0M |
| Gross Margin | — | — |
| Operating Margin | 121.6% | 81.5% |
| Net Margin | 3.4% | 35.7% |
| Revenue YoY | 18.4% | 1.7% |
| Net Profit YoY | -25.6% | — |
| EPS (diluted) | $0.14 | $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 | $235.9M | $425.9M | ||
| Q4 25 | $624.4M | $637.9M | ||
| Q3 25 | $390.2M | $443.1M | ||
| Q2 25 | $260.9M | $527.4M | ||
| Q1 25 | $199.3M | $734.8M | ||
| Q4 24 | $935.0M | $513.8M | ||
| Q3 24 | $327.1M | $310.0M | ||
| Q2 24 | $317.4M | $338.6M |
| Q1 26 | $8.1M | $152.0M | ||
| Q4 25 | $6.0M | $181.6M | ||
| Q3 25 | $119.5M | $107.3M | ||
| Q2 25 | $-12.1M | $149.8M | ||
| Q1 25 | $10.5M | $216.4M | ||
| Q4 24 | $156.3M | $45.0M | ||
| Q3 24 | $72.8M | $-167.6M | ||
| Q2 24 | $21.1M | $-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 | 121.6% | 81.5% | ||
| Q4 25 | 4.2% | 43.3% | ||
| Q3 25 | 48.6% | 40.6% | ||
| Q2 25 | 26.0% | 43.7% | ||
| Q1 25 | 24.0% | 43.2% | ||
| Q4 24 | 33.5% | 16.8% | ||
| Q3 24 | 60.6% | -63.4% | ||
| Q2 24 | 20.4% | -15.2% |
| Q1 26 | 3.4% | 35.7% | ||
| Q4 25 | 1.0% | 28.5% | ||
| Q3 25 | 30.6% | 24.2% | ||
| Q2 25 | -4.7% | 28.4% | ||
| Q1 25 | 5.3% | 29.4% | ||
| Q4 24 | 16.7% | 8.8% | ||
| Q3 24 | 22.2% | -54.1% | ||
| Q2 24 | 6.6% | -16.0% |
| Q1 26 | $0.14 | $1.59 | ||
| Q4 25 | $0.20 | $1.98 | ||
| Q3 25 | $2.02 | $1.18 | ||
| Q2 25 | $-0.22 | $1.64 | ||
| Q1 25 | $0.21 | $2.37 | ||
| Q4 24 | $3.14 | $0.49 | ||
| Q3 24 | $1.46 | $-1.81 | ||
| Q2 24 | $0.42 | $-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 | $1.8B | — |
| Total DebtLower is stronger | — | $300.0M |
| Stockholders' EquityBook value | $3.8B | — |
| Total Assets | $11.2B | $9.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.8B | — | ||
| Q4 25 | $1.5B | $271.4M | ||
| Q3 25 | $1.5B | $43.2M | ||
| Q2 25 | $1.4B | $39.3M | ||
| Q1 25 | $493.7M | $40.0M | ||
| Q4 24 | $596.1M | $48.7M | ||
| Q3 24 | $400.7M | $38.2M | ||
| Q2 24 | $436.8M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | $5.1B | $2.7B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | $5.1B | $2.7B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.7B |
| Q1 26 | $3.8B | — | ||
| Q4 25 | $3.8B | $3.6B | ||
| Q3 25 | $3.8B | $3.1B | ||
| Q2 25 | $3.6B | $3.0B | ||
| Q1 25 | $2.8B | $2.8B | ||
| Q4 24 | $2.8B | $-76.2M | ||
| Q3 24 | $2.6B | $-15.5M | ||
| Q2 24 | $3.0B | $5.0M |
| Q1 26 | $11.2B | $9.1B | ||
| Q4 25 | $10.6B | $9.2B | ||
| Q3 25 | $10.7B | $8.7B | ||
| Q2 25 | $10.3B | $8.4B | ||
| Q1 25 | $9.3B | $8.5B | ||
| Q4 24 | $9.2B | $8.3B | ||
| Q3 24 | $9.4B | $8.3B | ||
| Q2 24 | $9.9B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.35× | 0.75× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | 1.85× | — | ||
| 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 | $360.3M | $274.9M | ||
| Q3 25 | $149.8M | $237.8M | ||
| Q2 25 | $177.3M | $388.4M | ||
| Q1 25 | $-224.9M | $253.8M | ||
| Q4 24 | $337.1M | $220.1M | ||
| Q3 24 | $248.3M | $197.9M | ||
| Q2 24 | $-17.5M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $348.6M | $-2.7M | ||
| Q3 25 | $137.7M | $-47.8M | ||
| Q2 25 | $169.7M | $195.3M | ||
| Q1 25 | $-238.4M | $59.9M | ||
| Q4 24 | $317.1M | $-20.3M | ||
| Q3 24 | $238.7M | $-49.1M | ||
| Q2 24 | $-25.1M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | 55.8% | -0.4% | ||
| Q3 25 | 35.3% | -10.8% | ||
| Q2 25 | 65.1% | 37.0% | ||
| Q1 25 | -119.6% | 8.2% | ||
| Q4 24 | 33.9% | -4.0% | ||
| Q3 24 | 73.0% | -15.8% | ||
| Q2 24 | -7.9% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 1.9% | 43.5% | ||
| Q3 25 | 3.1% | 64.4% | ||
| Q2 25 | 2.9% | 36.6% | ||
| Q1 25 | 6.8% | 26.4% | ||
| Q4 24 | 2.1% | 46.8% | ||
| Q3 24 | 2.9% | 79.7% | ||
| Q2 24 | 2.4% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | 60.04× | 1.51× | ||
| Q3 25 | 1.25× | 2.21× | ||
| Q2 25 | — | 2.59× | ||
| Q1 25 | -21.35× | 1.17× | ||
| Q4 24 | 2.16× | 4.89× | ||
| Q3 24 | 3.41× | — | ||
| Q2 24 | -0.83× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HHH
| Rental revenue | $113.5M | 48% |
| Master Planned Communities land sales | $99.6M | 42% |
| Other revenues | $11.0M | 5% |
| Builder price participation | $8.7M | 4% |
| Condominium rights and unit sales | $3.1M | 1% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
