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Side-by-side financial comparison of Magnera Corp (MAGN) and NATIONAL FUEL GAS CO (NFG). Click either name above to swap in a different company.
Magnera Corp is the larger business by last-quarter revenue ($792.0M vs $425.9M, roughly 1.9× NATIONAL FUEL GAS CO). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs -4.3%, a 40.0% gap on every dollar of revenue. On growth, Magnera Corp posted the faster year-over-year revenue change (12.8% vs 1.7%). Over the past eight quarters, Magnera Corp's revenue compounded faster (54.9% CAGR vs 12.1%).
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.
MAGN vs NFG — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $425.9M |
| Net Profit | $-34.0M | $152.0M |
| Gross Margin | 12.2% | — |
| Operating Margin | 1.8% | 81.5% |
| Net Margin | -4.3% | 35.7% |
| Revenue YoY | 12.8% | 1.7% |
| Net Profit YoY | 43.3% | — |
| EPS (diluted) | $-0.95 | $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 | $792.0M | $637.9M | ||
| Q3 25 | — | $443.1M | ||
| Q2 25 | $839.0M | $527.4M | ||
| Q1 25 | $824.0M | $734.8M | ||
| Q4 24 | $702.0M | $513.8M | ||
| Q3 24 | $332.1M | $310.0M | ||
| Q2 24 | $556.0M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | $-34.0M | $181.6M | ||
| Q3 25 | — | $107.3M | ||
| Q2 25 | $-18.0M | $149.8M | ||
| Q1 25 | $-41.0M | $216.4M | ||
| Q4 24 | $-60.0M | $45.0M | ||
| Q3 24 | $-15.2M | $-167.6M | ||
| Q2 24 | $19.0M | $-54.2M |
| Q1 26 | — | — | ||
| Q4 25 | 12.2% | 86.6% | ||
| Q3 25 | — | — | ||
| Q2 25 | 10.7% | 94.7% | ||
| Q1 25 | 10.7% | 81.6% | ||
| Q4 24 | 10.1% | 87.3% | ||
| Q3 24 | 10.7% | — | ||
| Q2 24 | 6.6% | 98.5% |
| Q1 26 | — | 81.5% | ||
| Q4 25 | 1.8% | 43.3% | ||
| Q3 25 | — | 40.6% | ||
| Q2 25 | 1.5% | 43.7% | ||
| Q1 25 | 0.5% | 43.2% | ||
| Q4 24 | -3.1% | 16.8% | ||
| Q3 24 | 0.9% | -63.4% | ||
| Q2 24 | 3.1% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | -4.3% | 28.5% | ||
| Q3 25 | — | 24.2% | ||
| Q2 25 | -2.1% | 28.4% | ||
| Q1 25 | -5.0% | 29.4% | ||
| Q4 24 | -8.5% | 8.8% | ||
| Q3 24 | -4.6% | -54.1% | ||
| Q2 24 | 3.4% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | $-0.95 | $1.98 | ||
| Q3 25 | — | $1.18 | ||
| Q2 25 | $-0.51 | $1.64 | ||
| Q1 25 | $-1.15 | $2.37 | ||
| Q4 24 | $-1.69 | $0.49 | ||
| Q3 24 | $-0.33 | $-1.81 | ||
| Q2 24 | $0.60 | $-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 | $264.0M | — |
| Total DebtLower is stronger | $1.9B | $300.0M |
| Stockholders' EquityBook value | $1.0B | — |
| Total Assets | $3.9B | $9.1B |
| Debt / EquityLower = less leverage | 1.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $264.0M | $271.4M | ||
| Q3 25 | — | $43.2M | ||
| Q2 25 | $276.0M | $39.3M | ||
| Q1 25 | $282.0M | $40.0M | ||
| Q4 24 | $215.0M | $48.7M | ||
| Q3 24 | $230.0M | $38.2M | ||
| Q2 24 | $33.9M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | $1.9B | $2.7B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | $2.0B | $2.7B | ||
| Q1 25 | $2.0B | $2.7B | ||
| Q4 24 | $2.0B | $2.7B | ||
| Q3 24 | $2.0B | $2.7B | ||
| Q2 24 | $877.4M | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $3.6B | ||
| Q3 25 | — | $3.1B | ||
| Q2 25 | $1.1B | $3.0B | ||
| Q1 25 | $1.1B | $2.8B | ||
| Q4 24 | $1.1B | $-76.2M | ||
| Q3 24 | $2.1B | $-15.5M | ||
| Q2 24 | $2.4B | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $3.9B | $9.2B | ||
| Q3 25 | — | $8.7B | ||
| Q2 25 | $4.1B | $8.4B | ||
| Q1 25 | $4.1B | $8.5B | ||
| Q4 24 | $4.0B | $8.3B | ||
| Q3 24 | $2.8B | $8.3B | ||
| Q2 24 | $1.5B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.86× | 0.75× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | 1.77× | 0.90× | ||
| Q1 25 | 1.83× | 0.99× | ||
| Q4 24 | 1.80× | — | ||
| Q3 24 | 0.91× | — | ||
| Q2 24 | 0.37× | 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 | $2.0M | $657.3M |
| Free Cash FlowOCF − Capex | $-13.0M | — |
| FCF MarginFCF / Revenue | -1.6% | — |
| Capex IntensityCapex / Revenue | 1.9% | 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 | $2.0M | $274.9M | ||
| Q3 25 | — | $237.8M | ||
| Q2 25 | $0 | $388.4M | ||
| Q1 25 | $65.0M | $253.8M | ||
| Q4 24 | $-58.0M | $220.1M | ||
| Q3 24 | $12.2M | $197.9M | ||
| Q2 24 | $38.0M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $-13.0M | $-2.7M | ||
| Q3 25 | — | $-47.8M | ||
| Q2 25 | — | $195.3M | ||
| Q1 25 | $42.0M | $59.9M | ||
| Q4 24 | $-74.0M | $-20.3M | ||
| Q3 24 | $3.6M | $-49.1M | ||
| Q2 24 | $23.0M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | -1.6% | -0.4% | ||
| Q3 25 | — | -10.8% | ||
| Q2 25 | — | 37.0% | ||
| Q1 25 | 5.1% | 8.2% | ||
| Q4 24 | -10.5% | -4.0% | ||
| Q3 24 | 1.1% | -15.8% | ||
| Q2 24 | 4.1% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 1.9% | 43.5% | ||
| Q3 25 | — | 64.4% | ||
| Q2 25 | 1.5% | 36.6% | ||
| Q1 25 | 2.8% | 26.4% | ||
| Q4 24 | 2.3% | 46.8% | ||
| Q3 24 | 2.6% | 79.7% | ||
| Q2 24 | 2.7% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | — | 1.51× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | — | 2.59× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | — | 4.89× | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.00× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MAGN
| Other | $451.0M | 57% |
| United States And Canada | $341.0M | 43% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
