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Side-by-side financial comparison of MASIMO CORP (MASI) 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 $371.5M, roughly 1.1× MASIMO CORP). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs -27.0%, a 62.7% gap on every dollar of revenue. On growth, NATIONAL FUEL GAS CO posted the faster year-over-year revenue change (1.7% vs -26.4%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs -17.7%).
Masimo Corporation is an American health technology and consumer electronics company headquartered in Irvine, California. The company develops patient monitoring devices, non-invasive sensors, and related software platforms used in hospital and home settings. Masimo has also operated in the consumer audio and wearable device markets.
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.
MASI vs NFG — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $371.5M | $425.9M |
| Net Profit | $-100.4M | $152.0M |
| Gross Margin | 62.1% | — |
| Operating Margin | 22.5% | 81.5% |
| Net Margin | -27.0% | 35.7% |
| Revenue YoY | -26.4% | 1.7% |
| Net Profit YoY | -1124.5% | — |
| EPS (diluted) | $-1.84 | $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 | — | $637.9M | ||
| Q3 25 | $371.5M | $443.1M | ||
| Q2 25 | $370.9M | $527.4M | ||
| Q1 25 | $372.0M | $734.8M | ||
| Q4 24 | $600.7M | $513.8M | ||
| Q3 24 | $504.6M | $310.0M | ||
| Q2 24 | $496.3M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | — | $181.6M | ||
| Q3 25 | $-100.4M | $107.3M | ||
| Q2 25 | $51.3M | $149.8M | ||
| Q1 25 | $-170.7M | $216.4M | ||
| Q4 24 | $-349.6M | $45.0M | ||
| Q3 24 | $9.8M | $-167.6M | ||
| Q2 24 | $16.0M | $-54.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 86.6% | ||
| Q3 25 | 62.1% | — | ||
| Q2 25 | 62.9% | 94.7% | ||
| Q1 25 | 62.9% | 81.6% | ||
| Q4 24 | 40.7% | 87.3% | ||
| Q3 24 | 52.2% | — | ||
| Q2 24 | 51.3% | 98.5% |
| Q1 26 | — | 81.5% | ||
| Q4 25 | — | 43.3% | ||
| Q3 25 | 22.5% | 40.6% | ||
| Q2 25 | 17.4% | 43.7% | ||
| Q1 25 | 21.0% | 43.2% | ||
| Q4 24 | -59.8% | 16.8% | ||
| Q3 24 | 6.0% | -63.4% | ||
| Q2 24 | 5.7% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | — | 28.5% | ||
| Q3 25 | -27.0% | 24.2% | ||
| Q2 25 | 13.8% | 28.4% | ||
| Q1 25 | -45.9% | 29.4% | ||
| Q4 24 | -58.2% | 8.8% | ||
| Q3 24 | 1.9% | -54.1% | ||
| Q2 24 | 3.2% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | — | $1.98 | ||
| Q3 25 | $-1.84 | $1.18 | ||
| Q2 25 | $0.94 | $1.64 | ||
| Q1 25 | $-3.12 | $2.37 | ||
| Q4 24 | $-6.54 | $0.49 | ||
| Q3 24 | $0.18 | $-1.81 | ||
| Q2 24 | $0.29 | $-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 | $312.3M | — |
| Total DebtLower is stronger | $559.1M | $300.0M |
| Stockholders' EquityBook value | $810.0M | — |
| Total Assets | $1.8B | $9.1B |
| Debt / EquityLower = less leverage | 0.69× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $271.4M | ||
| Q3 25 | $312.3M | $43.2M | ||
| Q2 25 | $149.6M | $39.3M | ||
| Q1 25 | $130.8M | $40.0M | ||
| Q4 24 | $177.6M | $48.7M | ||
| Q3 24 | $158.5M | $38.2M | ||
| Q2 24 | $129.6M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | $559.1M | $2.7B | ||
| Q2 25 | $613.7M | $2.7B | ||
| Q1 25 | $651.0M | $2.7B | ||
| Q4 24 | $765.2M | $2.7B | ||
| Q3 24 | $772.6M | $2.7B | ||
| Q2 24 | $781.6M | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.6B | ||
| Q3 25 | $810.0M | $3.1B | ||
| Q2 25 | $1.0B | $3.0B | ||
| Q1 25 | $946.4M | $2.8B | ||
| Q4 24 | $1.1B | $-76.2M | ||
| Q3 24 | $1.5B | $-15.5M | ||
| Q2 24 | $1.4B | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | — | $9.2B | ||
| Q3 25 | $1.8B | $8.7B | ||
| Q2 25 | $2.4B | $8.4B | ||
| Q1 25 | $2.3B | $8.5B | ||
| Q4 24 | $2.6B | $8.3B | ||
| Q3 24 | $3.1B | $8.3B | ||
| Q2 24 | $2.9B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.75× | ||
| Q3 25 | 0.69× | 0.87× | ||
| Q2 25 | 0.59× | 0.90× | ||
| Q1 25 | 0.69× | 0.99× | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 0.57× | 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 | $56.8M | $657.3M |
| Free Cash FlowOCF − Capex | $50.9M | — |
| FCF MarginFCF / Revenue | 13.7% | — |
| Capex IntensityCapex / Revenue | 1.6% | 117.0% |
| Cash ConversionOCF / Net Profit | — | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $191.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | — | $274.9M | ||
| Q3 25 | $56.8M | $237.8M | ||
| Q2 25 | $69.4M | $388.4M | ||
| Q1 25 | $31.1M | $253.8M | ||
| Q4 24 | $50.5M | $220.1M | ||
| Q3 24 | $25.6M | $197.9M | ||
| Q2 24 | $74.5M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-2.7M | ||
| Q3 25 | $50.9M | $-47.8M | ||
| Q2 25 | $65.6M | $195.3M | ||
| Q1 25 | $28.5M | $59.9M | ||
| Q4 24 | $46.0M | $-20.3M | ||
| Q3 24 | $16.9M | $-49.1M | ||
| Q2 24 | $66.9M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.4% | ||
| Q3 25 | 13.7% | -10.8% | ||
| Q2 25 | 17.7% | 37.0% | ||
| Q1 25 | 7.7% | 8.2% | ||
| Q4 24 | 7.7% | -4.0% | ||
| Q3 24 | 3.3% | -15.8% | ||
| Q2 24 | 13.5% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | 1.6% | 64.4% | ||
| Q2 25 | 1.0% | 36.6% | ||
| Q1 25 | 0.7% | 26.4% | ||
| Q4 24 | 0.7% | 46.8% | ||
| Q3 24 | 1.7% | 79.7% | ||
| Q2 24 | 1.5% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | — | 1.51× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | 1.35× | 2.59× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | — | 4.89× | ||
| Q3 24 | 2.61× | — | ||
| Q2 24 | 4.66× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MASI
Segment breakdown not available.
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
