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Side-by-side financial comparison of IDEX Corporation (IEX) 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 $398.4M, roughly 1.1× IDEX Corporation). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 30.1%, a 5.6% gap on every dollar of revenue. On growth, IDEX Corporation posted the faster year-over-year revenue change (16.7% vs 1.7%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs -29.4%).
IDEX can refer to several things, including:International Defence Exhibition, a biennial arms and defense technology sales exhibition IDEX Corporation, a publicly listed company that makes fluidics systems and specialty engineered products Ideanomics, a publicly traded company that trades under the IDEX ticker symbol.
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.
IEX vs NFG — Head-to-Head
Income Statement — Q2 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $398.4M | $425.9M |
| Net Profit | $120.0M | $152.0M |
| Gross Margin | 99.9% | — |
| Operating Margin | 43.3% | 81.5% |
| Net Margin | 30.1% | 35.7% |
| Revenue YoY | 16.7% | 1.7% |
| Net Profit YoY | 25.7% | — |
| EPS (diluted) | $1.61 | $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.
| Q2 26 | $398.4M | — | ||
| Q1 26 | $407.7M | $425.9M | ||
| Q4 25 | $899.1M | $637.9M | ||
| Q3 25 | $878.7M | $443.1M | ||
| Q2 25 | $865.4M | $527.4M | ||
| Q1 25 | $814.3M | $734.8M | ||
| Q4 24 | $862.9M | $513.8M | ||
| Q3 24 | $798.2M | $310.0M |
| Q2 26 | $120.0M | — | ||
| Q1 26 | $128.3M | $152.0M | ||
| Q4 25 | $128.3M | $181.6M | ||
| Q3 25 | $127.8M | $107.3M | ||
| Q2 25 | $131.6M | $149.8M | ||
| Q1 25 | $95.5M | $216.4M | ||
| Q4 24 | $123.2M | $45.0M | ||
| Q3 24 | $119.1M | $-167.6M |
| Q2 26 | 99.9% | — | ||
| Q1 26 | 94.9% | — | ||
| Q4 25 | 43.1% | 86.6% | ||
| Q3 25 | 44.5% | — | ||
| Q2 25 | 45.3% | 94.7% | ||
| Q1 25 | 45.3% | 81.6% | ||
| Q4 24 | 42.5% | 87.3% | ||
| Q3 24 | 44.3% | — |
| Q2 26 | 43.3% | — | ||
| Q1 26 | 45.0% | 81.5% | ||
| Q4 25 | 20.4% | 43.3% | ||
| Q3 25 | 21.1% | 40.6% | ||
| Q2 25 | 21.7% | 43.7% | ||
| Q1 25 | 17.4% | 43.2% | ||
| Q4 24 | 19.2% | 16.8% | ||
| Q3 24 | 21.0% | -63.4% |
| Q2 26 | 30.1% | — | ||
| Q1 26 | 31.5% | 35.7% | ||
| Q4 25 | 14.3% | 28.5% | ||
| Q3 25 | 14.5% | 24.2% | ||
| Q2 25 | 15.2% | 28.4% | ||
| Q1 25 | 11.7% | 29.4% | ||
| Q4 24 | 14.3% | 8.8% | ||
| Q3 24 | 14.9% | -54.1% |
| Q2 26 | $1.61 | — | ||
| Q1 26 | $1.71 | $1.59 | ||
| Q4 25 | $1.71 | $1.98 | ||
| Q3 25 | $1.70 | $1.18 | ||
| Q2 25 | $1.74 | $1.64 | ||
| Q1 25 | $1.26 | $2.37 | ||
| Q4 24 | $1.61 | $0.49 | ||
| Q3 24 | $1.57 | $-1.81 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $586.2M | — |
| Total DebtLower is stronger | — | $300.0M |
| Stockholders' EquityBook value | $4.0B | — |
| Total Assets | $6.9B | $9.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $586.2M | — | ||
| Q1 26 | $580.0M | — | ||
| Q4 25 | $580.0M | $271.4M | ||
| Q3 25 | $593.8M | $43.2M | ||
| Q2 25 | $568.2M | $39.3M | ||
| Q1 25 | $594.1M | $40.0M | ||
| Q4 24 | $620.8M | $48.7M | ||
| Q3 24 | $633.2M | $38.2M |
| Q2 26 | — | — | ||
| Q1 26 | — | $300.0M | ||
| Q4 25 | $1.8B | $2.7B | ||
| Q3 25 | $1.9B | $2.7B | ||
| Q2 25 | $1.9B | $2.7B | ||
| Q1 25 | $2.0B | $2.7B | ||
| Q4 24 | $2.0B | $2.7B | ||
| Q3 24 | $2.1B | $2.7B |
| Q2 26 | $4.0B | — | ||
| Q1 26 | $4.0B | — | ||
| Q4 25 | $4.0B | $3.6B | ||
| Q3 25 | $4.0B | $3.1B | ||
| Q2 25 | $4.0B | $3.0B | ||
| Q1 25 | $3.9B | $2.8B | ||
| Q4 24 | $3.8B | $-76.2M | ||
| Q3 24 | $3.8B | $-15.5M |
| Q2 26 | $6.9B | — | ||
| Q1 26 | $6.9B | $9.1B | ||
| Q4 25 | $6.9B | $9.2B | ||
| Q3 25 | $7.0B | $8.7B | ||
| Q2 25 | $6.9B | $8.4B | ||
| Q1 25 | $6.8B | $8.5B | ||
| Q4 24 | $6.7B | $8.3B | ||
| Q3 24 | $7.0B | $8.3B |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 0.45× | 0.75× | ||
| Q3 25 | 0.48× | 0.87× | ||
| Q2 25 | 0.46× | 0.90× | ||
| Q1 25 | 0.50× | 0.99× | ||
| Q4 24 | 0.52× | — | ||
| Q3 24 | 0.55× | — |
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 | $86.0M | — |
| FCF MarginFCF / Revenue | 21.6% | — |
| Capex IntensityCapex / Revenue | 4.4% | 117.0% |
| Cash ConversionOCF / Net Profit | — | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $654.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q1 26 | — | $657.3M | ||
| Q4 25 | $209.5M | $274.9M | ||
| Q3 25 | $203.5M | $237.8M | ||
| Q2 25 | $161.7M | $388.4M | ||
| Q1 25 | $105.7M | $253.8M | ||
| Q4 24 | $172.6M | $220.1M | ||
| Q3 24 | $205.3M | $197.9M |
| Q2 26 | $86.0M | — | ||
| Q1 26 | $189.8M | — | ||
| Q4 25 | $189.8M | $-2.7M | ||
| Q3 25 | $188.7M | $-47.8M | ||
| Q2 25 | $146.9M | $195.3M | ||
| Q1 25 | $91.4M | $59.9M | ||
| Q4 24 | $157.1M | $-20.3M | ||
| Q3 24 | $191.6M | $-49.1M |
| Q2 26 | 21.6% | — | ||
| Q1 26 | 46.6% | — | ||
| Q4 25 | 21.1% | -0.4% | ||
| Q3 25 | 21.5% | -10.8% | ||
| Q2 25 | 17.0% | 37.0% | ||
| Q1 25 | 11.2% | 8.2% | ||
| Q4 24 | 18.2% | -4.0% | ||
| Q3 24 | 24.0% | -15.8% |
| Q2 26 | 4.4% | — | ||
| Q1 26 | 15.6% | 117.0% | ||
| Q4 25 | 2.2% | 43.5% | ||
| Q3 25 | 1.7% | 64.4% | ||
| Q2 25 | 1.7% | 36.6% | ||
| Q1 25 | 1.8% | 26.4% | ||
| Q4 24 | 1.8% | 46.8% | ||
| Q3 24 | 1.7% | 79.7% |
| Q2 26 | — | — | ||
| Q1 26 | — | 4.32× | ||
| Q4 25 | 1.63× | 1.51× | ||
| Q3 25 | 1.59× | 2.21× | ||
| Q2 25 | 1.23× | 2.59× | ||
| Q1 25 | 1.11× | 1.17× | ||
| Q4 24 | 1.40× | 4.89× | ||
| Q3 24 | 1.72× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IEX
Segment breakdown not available.
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
