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Side-by-side financial comparison of Koppers Holdings Inc. (KOP) and NATIONAL FUEL GAS CO (NFG). Click either name above to swap in a different company.
Koppers Holdings Inc. is the larger business by last-quarter revenue ($432.7M vs $425.9M, roughly 1.0× NATIONAL FUEL GAS CO). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 6.9%, a 28.8% gap on every dollar of revenue. On growth, NATIONAL FUEL GAS CO posted the faster year-over-year revenue change (1.7% vs -9.3%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs -6.7%).
Koppers is a global chemical and materials company based in Pittsburgh, Pennsylvania, United States. Its headquarters is an art-deco 1920s skyscraper, the Koppers Tower.
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.
KOP vs NFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $432.7M | $425.9M |
| Net Profit | $29.7M | $152.0M |
| Gross Margin | 25.6% | — |
| Operating Margin | 11.5% | 81.5% |
| Net Margin | 6.9% | 35.7% |
| Revenue YoY | -9.3% | 1.7% |
| Net Profit YoY | 391.2% | — |
| EPS (diluted) | $1.44 | $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 | $432.7M | $637.9M | ||
| Q3 25 | $485.3M | $443.1M | ||
| Q2 25 | $504.8M | $527.4M | ||
| Q1 25 | $456.5M | $734.8M | ||
| Q4 24 | $477.0M | $513.8M | ||
| Q3 24 | $554.3M | $310.0M | ||
| Q2 24 | $563.2M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | $29.7M | $181.6M | ||
| Q3 25 | $23.8M | $107.3M | ||
| Q2 25 | $16.4M | $149.8M | ||
| Q1 25 | $-13.9M | $216.4M | ||
| Q4 24 | $-10.2M | $45.0M | ||
| Q3 24 | $22.8M | $-167.6M | ||
| Q2 24 | $26.8M | $-54.2M |
| Q1 26 | — | — | ||
| Q4 25 | 25.6% | 86.6% | ||
| Q3 25 | 24.1% | — | ||
| Q2 25 | 22.6% | 94.7% | ||
| Q1 25 | 23.2% | 81.6% | ||
| Q4 24 | 17.5% | 87.3% | ||
| Q3 24 | 21.9% | — | ||
| Q2 24 | 21.6% | 98.5% |
| Q1 26 | — | 81.5% | ||
| Q4 25 | 11.5% | 43.3% | ||
| Q3 25 | 10.7% | 40.6% | ||
| Q2 25 | 7.7% | 43.7% | ||
| Q1 25 | 5.9% | 43.2% | ||
| Q4 24 | 1.3% | 16.8% | ||
| Q3 24 | 9.0% | -63.4% | ||
| Q2 24 | 10.2% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | 6.9% | 28.5% | ||
| Q3 25 | 4.9% | 24.2% | ||
| Q2 25 | 3.2% | 28.4% | ||
| Q1 25 | -3.0% | 29.4% | ||
| Q4 24 | -2.1% | 8.8% | ||
| Q3 24 | 4.1% | -54.1% | ||
| Q2 24 | 4.8% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | $1.44 | $1.98 | ||
| Q3 25 | $1.17 | $1.18 | ||
| Q2 25 | $0.81 | $1.64 | ||
| Q1 25 | $-0.68 | $2.37 | ||
| Q4 24 | $-0.47 | $0.49 | ||
| Q3 24 | $1.09 | $-1.81 | ||
| Q2 24 | $1.25 | $-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 | $928.3M | $300.0M |
| Stockholders' EquityBook value | $574.0M | — |
| Total Assets | $1.9B | $9.1B |
| Debt / EquityLower = less leverage | 1.62× | — |
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 | — | $300.0M | ||
| Q4 25 | $928.3M | $2.7B | ||
| Q3 25 | $932.9M | $2.7B | ||
| Q2 25 | $977.5M | $2.7B | ||
| Q1 25 | $989.0M | $2.7B | ||
| Q4 24 | $939.5M | $2.7B | ||
| Q3 24 | $989.4M | $2.7B | ||
| Q2 24 | $1.0B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | $574.0M | $3.6B | ||
| Q3 25 | $545.6M | $3.1B | ||
| Q2 25 | $526.8M | $3.0B | ||
| Q1 25 | $498.0M | $2.8B | ||
| Q4 24 | $488.7M | $-76.2M | ||
| Q3 24 | $532.3M | $-15.5M | ||
| Q2 24 | $509.2M | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $1.9B | $9.2B | ||
| Q3 25 | $1.9B | $8.7B | ||
| Q2 25 | $1.9B | $8.4B | ||
| Q1 25 | $1.9B | $8.5B | ||
| Q4 24 | $1.9B | $8.3B | ||
| Q3 24 | $2.0B | $8.3B | ||
| Q2 24 | $1.9B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.62× | 0.75× | ||
| Q3 25 | 1.71× | 0.87× | ||
| Q2 25 | 1.86× | 0.90× | ||
| Q1 25 | 1.99× | 0.99× | ||
| Q4 24 | 1.92× | — | ||
| Q3 24 | 1.86× | — | ||
| Q2 24 | 1.97× | 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 | $45.1M | $657.3M |
| Free Cash FlowOCF − Capex | $28.5M | — |
| FCF MarginFCF / Revenue | 6.6% | — |
| Capex IntensityCapex / Revenue | 3.8% | 117.0% |
| Cash ConversionOCF / Net Profit | 1.52× | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $67.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | $45.1M | $274.9M | ||
| Q3 25 | $49.6M | $237.8M | ||
| Q2 25 | $50.5M | $388.4M | ||
| Q1 25 | $-22.7M | $253.8M | ||
| Q4 24 | $74.7M | $220.1M | ||
| Q3 24 | $29.8M | $197.9M | ||
| Q2 24 | $27.2M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $28.5M | $-2.7M | ||
| Q3 25 | $37.6M | $-47.8M | ||
| Q2 25 | $38.4M | $195.3M | ||
| Q1 25 | $-37.0M | $59.9M | ||
| Q4 24 | $56.1M | $-20.3M | ||
| Q3 24 | $14.4M | $-49.1M | ||
| Q2 24 | $10.1M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | -0.4% | ||
| Q3 25 | 7.7% | -10.8% | ||
| Q2 25 | 7.6% | 37.0% | ||
| Q1 25 | -8.1% | 8.2% | ||
| Q4 24 | 11.8% | -4.0% | ||
| Q3 24 | 2.6% | -15.8% | ||
| Q2 24 | 1.8% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 3.8% | 43.5% | ||
| Q3 25 | 2.5% | 64.4% | ||
| Q2 25 | 2.4% | 36.6% | ||
| Q1 25 | 3.1% | 26.4% | ||
| Q4 24 | 3.9% | 46.8% | ||
| Q3 24 | 2.8% | 79.7% | ||
| Q2 24 | 3.0% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | 1.52× | 1.51× | ||
| Q3 25 | 2.08× | 2.21× | ||
| Q2 25 | 3.08× | 2.59× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | — | 4.89× | ||
| Q3 24 | 1.31× | — | ||
| Q2 24 | 1.01× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KOP
| Other | $127.8M | 30% |
| Railroad Treated Products | $119.0M | 28% |
| Utility Poles | $79.8M | 18% |
| Pitch And Related Products | $74.1M | 17% |
| Carbon Black Feedstock And Distillates | $14.4M | 3% |
| Railroad Infrastructure Products And Services | $9.9M | 2% |
| Phthalic Anhydride Naphthalene And Other Chemicals | $7.7M | 2% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
