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Side-by-side financial comparison of LivaNova PLC (LIVN) 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 $360.9M, roughly 1.2× LivaNova PLC). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 8.6%, a 27.1% gap on every dollar of revenue. On growth, LivaNova PLC posted the faster year-over-year revenue change (12.1% vs 1.7%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs 10.6%).
LivaNova, plc is an American medical device manufacturer based in the UK. The company develops devices used for cardiac surgery and neuromodulation. The company was formed in 2015 by a $2.7B merger between Houston, Texas-based Cyberonics, Inc. and Milan, Italy-based Sorin S.p.a. The company trades on the NASDAQ stock exchange under the ticker symbol "LIVN".
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.
LIVN vs NFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $360.9M | $425.9M |
| Net Profit | $30.9M | $152.0M |
| Gross Margin | 65.2% | — |
| Operating Margin | 11.8% | 81.5% |
| Net Margin | 8.6% | 35.7% |
| Revenue YoY | 12.1% | 1.7% |
| Net Profit YoY | -44.7% | — |
| EPS (diluted) | $0.57 | $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 | $360.9M | $637.9M | ||
| Q3 25 | $357.8M | $443.1M | ||
| Q2 25 | $352.5M | $527.4M | ||
| Q1 25 | $316.9M | $734.8M | ||
| Q4 24 | $321.8M | $513.8M | ||
| Q3 24 | $318.1M | $310.0M | ||
| Q2 24 | $318.6M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | $30.9M | $181.6M | ||
| Q3 25 | $26.8M | $107.3M | ||
| Q2 25 | $27.2M | $149.8M | ||
| Q1 25 | $-327.3M | $216.4M | ||
| Q4 24 | $55.9M | $45.0M | ||
| Q3 24 | $33.0M | $-167.6M | ||
| Q2 24 | $16.3M | $-54.2M |
| Q1 26 | — | — | ||
| Q4 25 | 65.2% | 86.6% | ||
| Q3 25 | 68.4% | — | ||
| Q2 25 | 67.8% | 94.7% | ||
| Q1 25 | 69.7% | 81.6% | ||
| Q4 24 | 68.2% | 87.3% | ||
| Q3 24 | 70.8% | — | ||
| Q2 24 | 68.7% | 98.5% |
| Q1 26 | — | 81.5% | ||
| Q4 25 | 11.8% | 43.3% | ||
| Q3 25 | 15.1% | 40.6% | ||
| Q2 25 | 15.4% | 43.7% | ||
| Q1 25 | 15.3% | 43.2% | ||
| Q4 24 | 11.5% | 16.8% | ||
| Q3 24 | 11.2% | -63.4% | ||
| Q2 24 | 12.6% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | 8.6% | 28.5% | ||
| Q3 25 | 7.5% | 24.2% | ||
| Q2 25 | 7.7% | 28.4% | ||
| Q1 25 | -103.3% | 29.4% | ||
| Q4 24 | 17.4% | 8.8% | ||
| Q3 24 | 10.4% | -54.1% | ||
| Q2 24 | 5.1% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | $0.57 | $1.98 | ||
| Q3 25 | $0.49 | $1.18 | ||
| Q2 25 | $0.50 | $1.64 | ||
| Q1 25 | $-6.01 | $2.37 | ||
| Q4 24 | $1.04 | $0.49 | ||
| Q3 24 | $0.60 | $-1.81 | ||
| Q2 24 | $0.30 | $-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 | $635.6M | — |
| Total DebtLower is stronger | $376.1M | $300.0M |
| Stockholders' EquityBook value | $1.2B | — |
| Total Assets | $2.6B | $9.1B |
| Debt / EquityLower = less leverage | 0.31× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $635.6M | $271.4M | ||
| Q3 25 | $646.1M | $43.2M | ||
| Q2 25 | $593.6M | $39.3M | ||
| Q1 25 | $738.4M | $40.0M | ||
| Q4 24 | $428.9M | $48.7M | ||
| Q3 24 | $346.4M | $38.2M | ||
| Q2 24 | $329.2M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | $376.1M | $2.7B | ||
| Q3 25 | $434.5M | $2.7B | ||
| Q2 25 | $430.6M | $2.7B | ||
| Q1 25 | $628.2M | $2.7B | ||
| Q4 24 | $627.0M | $2.7B | ||
| Q3 24 | $625.5M | $2.7B | ||
| Q2 24 | $624.5M | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $3.6B | ||
| Q3 25 | $1.2B | $3.1B | ||
| Q2 25 | $1.1B | $3.0B | ||
| Q1 25 | $1.0B | $2.8B | ||
| Q4 24 | $1.3B | $-76.2M | ||
| Q3 24 | $1.3B | $-15.5M | ||
| Q2 24 | $1.2B | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $2.6B | $9.2B | ||
| Q3 25 | $2.6B | $8.7B | ||
| Q2 25 | $2.5B | $8.4B | ||
| Q1 25 | $2.6B | $8.5B | ||
| Q4 24 | $2.5B | $8.3B | ||
| Q3 24 | $2.5B | $8.3B | ||
| Q2 24 | $2.5B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.31× | 0.75× | ||
| Q3 25 | 0.38× | 0.87× | ||
| Q2 25 | 0.38× | 0.90× | ||
| Q1 25 | 0.61× | 0.99× | ||
| Q4 24 | 0.47× | — | ||
| Q3 24 | 0.48× | — | ||
| Q2 24 | 0.50× | 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 | $82.4M | $657.3M |
| Free Cash FlowOCF − Capex | $50.2M | — |
| FCF MarginFCF / Revenue | 13.9% | — |
| Capex IntensityCapex / Revenue | 8.9% | 117.0% |
| Cash ConversionOCF / Net Profit | 2.67× | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $173.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | $82.4M | $274.9M | ||
| Q3 25 | $85.1M | $237.8M | ||
| Q2 25 | $62.9M | $388.4M | ||
| Q1 25 | $24.0M | $253.8M | ||
| Q4 24 | $78.7M | $220.1M | ||
| Q3 24 | $51.0M | $197.9M | ||
| Q2 24 | $43.4M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $50.2M | $-2.7M | ||
| Q3 25 | $62.2M | $-47.8M | ||
| Q2 25 | $47.8M | $195.3M | ||
| Q1 25 | $13.2M | $59.9M | ||
| Q4 24 | $68.3M | $-20.3M | ||
| Q3 24 | $32.8M | $-49.1M | ||
| Q2 24 | $31.2M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | -0.4% | ||
| Q3 25 | 17.4% | -10.8% | ||
| Q2 25 | 13.6% | 37.0% | ||
| Q1 25 | 4.2% | 8.2% | ||
| Q4 24 | 21.2% | -4.0% | ||
| Q3 24 | 10.3% | -15.8% | ||
| Q2 24 | 9.8% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 8.9% | 43.5% | ||
| Q3 25 | 6.4% | 64.4% | ||
| Q2 25 | 4.3% | 36.6% | ||
| Q1 25 | 3.4% | 26.4% | ||
| Q4 24 | 3.2% | 46.8% | ||
| Q3 24 | 5.7% | 79.7% | ||
| Q2 24 | 3.8% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | 2.67× | 1.51× | ||
| Q3 25 | 3.18× | 2.21× | ||
| Q2 25 | 2.32× | 2.59× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | 1.41× | 4.89× | ||
| Q3 24 | 1.55× | — | ||
| Q2 24 | 2.65× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LIVN
| Other | $169.4M | 47% |
| Neuromodulation Segment | $119.7M | 33% |
| Cardiopulmonary Segment | $71.8M | 20% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
