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Side-by-side financial comparison of Installed Building Products, Inc. (IBP) and NATIONAL FUEL GAS CO (NFG). Click either name above to swap in a different company.
Installed Building Products, Inc. is the larger business by last-quarter revenue ($747.5M vs $425.9M, roughly 1.8× NATIONAL FUEL GAS CO). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 10.2%, a 25.4% gap on every dollar of revenue. On growth, NATIONAL FUEL GAS CO posted the faster year-over-year revenue change (1.7% vs -0.4%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs 3.9%).
Installed Building Products, Inc. is a leading US-based provider of professional installation services for building products. Core offerings include insulation, gutters, garage doors, fire protection systems and window treatments, serving residential new construction, repair & remodel, and commercial construction segments across most US regions.
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.
IBP vs NFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $747.5M | $425.9M |
| Net Profit | $76.6M | $152.0M |
| Gross Margin | 35.0% | — |
| Operating Margin | 14.6% | 81.5% |
| Net Margin | 10.2% | 35.7% |
| Revenue YoY | -0.4% | 1.7% |
| Net Profit YoY | 14.5% | — |
| EPS (diluted) | $2.81 | $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 | $747.5M | $637.9M | ||
| Q3 25 | $778.2M | $443.1M | ||
| Q2 25 | $760.3M | $527.4M | ||
| Q1 25 | $684.8M | $734.8M | ||
| Q4 24 | $750.2M | $513.8M | ||
| Q3 24 | $760.6M | $310.0M | ||
| Q2 24 | $737.6M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | $76.6M | $181.6M | ||
| Q3 25 | $74.4M | $107.3M | ||
| Q2 25 | $69.0M | $149.8M | ||
| Q1 25 | $45.4M | $216.4M | ||
| Q4 24 | $66.9M | $45.0M | ||
| Q3 24 | $68.6M | $-167.6M | ||
| Q2 24 | $65.2M | $-54.2M |
| Q1 26 | — | — | ||
| Q4 25 | 35.0% | 86.6% | ||
| Q3 25 | 34.0% | — | ||
| Q2 25 | 34.2% | 94.7% | ||
| Q1 25 | 32.7% | 81.6% | ||
| Q4 24 | 33.6% | 87.3% | ||
| Q3 24 | 33.8% | — | ||
| Q2 24 | 34.1% | 98.5% |
| Q1 26 | — | 81.5% | ||
| Q4 25 | 14.6% | 43.3% | ||
| Q3 25 | 13.7% | 40.6% | ||
| Q2 25 | 13.3% | 43.7% | ||
| Q1 25 | 10.2% | 43.2% | ||
| Q4 24 | 13.1% | 16.8% | ||
| Q3 24 | 13.3% | -63.4% | ||
| Q2 24 | 12.9% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | 10.2% | 28.5% | ||
| Q3 25 | 9.6% | 24.2% | ||
| Q2 25 | 9.1% | 28.4% | ||
| Q1 25 | 6.6% | 29.4% | ||
| Q4 24 | 8.9% | 8.8% | ||
| Q3 24 | 9.0% | -54.1% | ||
| Q2 24 | 8.8% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | $2.81 | $1.98 | ||
| Q3 25 | $2.74 | $1.18 | ||
| Q2 25 | $2.52 | $1.64 | ||
| Q1 25 | $1.64 | $2.37 | ||
| Q4 24 | $2.39 | $0.49 | ||
| Q3 24 | $2.44 | $-1.81 | ||
| Q2 24 | $2.30 | $-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 | $321.9M | — |
| Total DebtLower is stronger | $886.6M | $300.0M |
| Stockholders' EquityBook value | $709.9M | — |
| Total Assets | $2.1B | $9.1B |
| Debt / EquityLower = less leverage | 1.25× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $321.9M | $271.4M | ||
| Q3 25 | $333.3M | $43.2M | ||
| Q2 25 | $305.2M | $39.3M | ||
| Q1 25 | $298.7M | $40.0M | ||
| Q4 24 | $327.6M | $48.7M | ||
| Q3 24 | $406.2M | $38.2M | ||
| Q2 24 | $380.3M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | $886.6M | $2.7B | ||
| Q3 25 | $880.8M | $2.7B | ||
| Q2 25 | $876.1M | $2.7B | ||
| Q1 25 | $872.4M | $2.7B | ||
| Q4 24 | $874.8M | $2.7B | ||
| Q3 24 | $872.3M | $2.7B | ||
| Q2 24 | $875.8M | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | $709.9M | $3.6B | ||
| Q3 25 | $678.6M | $3.1B | ||
| Q2 25 | $664.5M | $3.0B | ||
| Q1 25 | $660.9M | $2.8B | ||
| Q4 24 | $705.3M | $-76.2M | ||
| Q3 24 | $716.4M | $-15.5M | ||
| Q2 24 | $685.3M | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $2.1B | $9.2B | ||
| Q3 25 | $2.1B | $8.7B | ||
| Q2 25 | $2.0B | $8.4B | ||
| Q1 25 | $2.0B | $8.5B | ||
| Q4 24 | $2.1B | $8.3B | ||
| Q3 24 | $2.1B | $8.3B | ||
| Q2 24 | $2.0B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.25× | 0.75× | ||
| Q3 25 | 1.30× | 0.87× | ||
| Q2 25 | 1.32× | 0.90× | ||
| Q1 25 | 1.32× | 0.99× | ||
| Q4 24 | 1.24× | — | ||
| Q3 24 | 1.22× | — | ||
| Q2 24 | 1.28× | 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 | $64.9M | $657.3M |
| Free Cash FlowOCF − Capex | $49.3M | — |
| FCF MarginFCF / Revenue | 6.6% | — |
| Capex IntensityCapex / Revenue | 2.1% | 117.0% |
| Cash ConversionOCF / Net Profit | 0.85× | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $300.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | $64.9M | $274.9M | ||
| Q3 25 | $124.0M | $237.8M | ||
| Q2 25 | $90.4M | $388.4M | ||
| Q1 25 | $92.1M | $253.8M | ||
| Q4 24 | $74.8M | $220.1M | ||
| Q3 24 | $101.4M | $197.9M | ||
| Q2 24 | $79.0M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $49.3M | $-2.7M | ||
| Q3 25 | $104.8M | $-47.8M | ||
| Q2 25 | $74.8M | $195.3M | ||
| Q1 25 | $71.9M | $59.9M | ||
| Q4 24 | $52.9M | $-20.3M | ||
| Q3 24 | $77.3M | $-49.1M | ||
| Q2 24 | $58.2M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | -0.4% | ||
| Q3 25 | 13.5% | -10.8% | ||
| Q2 25 | 9.8% | 37.0% | ||
| Q1 25 | 10.5% | 8.2% | ||
| Q4 24 | 7.1% | -4.0% | ||
| Q3 24 | 10.2% | -15.8% | ||
| Q2 24 | 7.9% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 2.1% | 43.5% | ||
| Q3 25 | 2.5% | 64.4% | ||
| Q2 25 | 2.1% | 36.6% | ||
| Q1 25 | 2.9% | 26.4% | ||
| Q4 24 | 2.9% | 46.8% | ||
| Q3 24 | 3.2% | 79.7% | ||
| Q2 24 | 2.8% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | 0.85× | 1.51× | ||
| Q3 25 | 1.67× | 2.21× | ||
| Q2 25 | 1.31× | 2.59× | ||
| Q1 25 | 2.03× | 1.17× | ||
| Q4 24 | 1.12× | 4.89× | ||
| Q3 24 | 1.48× | — | ||
| Q2 24 | 1.21× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IBP
| Residential New Construction | $488.6M | 65% |
| Other Customer Installation | $67.8M | 9% |
| Shower Doors Shelving And Mirrors | $53.5M | 7% |
| Other Building Products | $47.7M | 6% |
| Fireproofing And Firestopping | $37.6M | 5% |
| Rain Gutters | $31.3M | 4% |
| Window Blinds | $18.0M | 2% |
| Related Party | $6.7M | 1% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
