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Side-by-side financial comparison of Hilltop Holdings Inc. (HTH) 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 $300.5M, roughly 1.4× Hilltop Holdings Inc.). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 13.0%, a 22.7% gap on every dollar of revenue. Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs 0.6%).
Hilltop Holdings Inc. is a financial holding company based in Dallas, Texas. It offers financial products and banking services through three primary subsidiaries: PlainsCapital Bank, PrimeLending, and HilltopSecurities.
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.
HTH vs NFG — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $300.5M | $425.9M |
| Net Profit | $39.0M | $152.0M |
| Gross Margin | — | — |
| Operating Margin | — | 81.5% |
| Net Margin | 13.0% | 35.7% |
| Revenue YoY | — | 1.7% |
| Net Profit YoY | -12.4% | — |
| EPS (diluted) | $0.64 | $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 | $300.5M | $425.9M | ||
| Q4 25 | $329.9M | $637.9M | ||
| Q3 25 | $330.2M | $443.1M | ||
| Q2 25 | $303.3M | $527.4M | ||
| Q1 25 | $318.5M | $734.8M | ||
| Q4 24 | $301.1M | $513.8M | ||
| Q3 24 | $305.5M | $310.0M | ||
| Q2 24 | $297.0M | $338.6M |
| Q1 26 | $39.0M | $152.0M | ||
| Q4 25 | $41.6M | $181.6M | ||
| Q3 25 | $45.8M | $107.3M | ||
| Q2 25 | $36.1M | $149.8M | ||
| Q1 25 | $42.1M | $216.4M | ||
| Q4 24 | $35.5M | $45.0M | ||
| Q3 24 | $29.7M | $-167.6M | ||
| Q2 24 | $20.3M | $-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 | 16.1% | 43.3% | ||
| Q3 25 | 18.4% | 40.6% | ||
| Q2 25 | 16.3% | 43.7% | ||
| Q1 25 | 18.1% | 43.2% | ||
| Q4 24 | 14.7% | 16.8% | ||
| Q3 24 | 13.9% | -63.4% | ||
| Q2 24 | 10.0% | -15.2% |
| Q1 26 | 13.0% | 35.7% | ||
| Q4 25 | 12.6% | 28.5% | ||
| Q3 25 | 13.9% | 24.2% | ||
| Q2 25 | 11.9% | 28.4% | ||
| Q1 25 | 13.2% | 29.4% | ||
| Q4 24 | 11.8% | 8.8% | ||
| Q3 24 | 9.7% | -54.1% | ||
| Q2 24 | 6.8% | -16.0% |
| Q1 26 | $0.64 | $1.59 | ||
| Q4 25 | $0.68 | $1.98 | ||
| Q3 25 | $0.74 | $1.18 | ||
| Q2 25 | $0.57 | $1.64 | ||
| Q1 25 | $0.65 | $2.37 | ||
| Q4 24 | $0.55 | $0.49 | ||
| Q3 24 | $0.46 | $-1.81 | ||
| Q2 24 | $0.31 | $-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 | $990.8M | $300.0M |
| Stockholders' EquityBook value | $2.2B | — |
| Total Assets | $15.7B | $9.1B |
| Debt / EquityLower = less leverage | 0.46× | — |
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 | $990.8M | $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 | $2.2B | — | ||
| Q4 25 | $2.2B | $3.6B | ||
| Q3 25 | $2.2B | $3.1B | ||
| Q2 25 | $2.2B | $3.0B | ||
| Q1 25 | $2.2B | $2.8B | ||
| Q4 24 | $2.2B | $-76.2M | ||
| Q3 24 | $2.2B | $-15.5M | ||
| Q2 24 | $2.1B | $5.0M |
| Q1 26 | $15.7B | $9.1B | ||
| Q4 25 | $15.8B | $9.2B | ||
| Q3 25 | $15.6B | $8.7B | ||
| Q2 25 | $15.4B | $8.4B | ||
| Q1 25 | $15.8B | $8.5B | ||
| Q4 24 | $16.3B | $8.3B | ||
| Q3 24 | $15.9B | $8.3B | ||
| Q2 24 | $15.6B | $8.5B |
| Q1 26 | 0.46× | — | ||
| 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 | $-38.7M | $274.9M | ||
| Q3 25 | $273.0M | $237.8M | ||
| Q2 25 | $-234.6M | $388.4M | ||
| Q1 25 | $5.8M | $253.8M | ||
| Q4 24 | $273.9M | $220.1M | ||
| Q3 24 | $515.6M | $197.9M | ||
| Q2 24 | $-435.3M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $-55.5M | $-2.7M | ||
| Q3 25 | $271.0M | $-47.8M | ||
| Q2 25 | $-234.6M | $195.3M | ||
| Q1 25 | $5.0M | $59.9M | ||
| Q4 24 | $266.8M | $-20.3M | ||
| Q3 24 | $513.8M | $-49.1M | ||
| Q2 24 | $-437.3M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | -16.8% | -0.4% | ||
| Q3 25 | 82.1% | -10.8% | ||
| Q2 25 | -77.4% | 37.0% | ||
| Q1 25 | 1.6% | 8.2% | ||
| Q4 24 | 88.6% | -4.0% | ||
| Q3 24 | 168.2% | -15.8% | ||
| Q2 24 | -147.2% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 5.1% | 43.5% | ||
| Q3 25 | 0.6% | 64.4% | ||
| Q2 25 | 0.0% | 36.6% | ||
| Q1 25 | 0.3% | 26.4% | ||
| Q4 24 | 2.4% | 46.8% | ||
| Q3 24 | 0.6% | 79.7% | ||
| Q2 24 | 0.7% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | -0.93× | 1.51× | ||
| Q3 25 | 5.96× | 2.21× | ||
| Q2 25 | -6.50× | 2.59× | ||
| Q1 25 | 0.14× | 1.17× | ||
| Q4 24 | 7.71× | 4.89× | ||
| Q3 24 | 17.36× | — | ||
| Q2 24 | -21.41× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTH
| Noninterest Income | $188.4M | 63% |
| Net Interest Income | $112.1M | 37% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
