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Side-by-side financial comparison of MGIC INVESTMENT CORP (MTG) 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 $297.1M, roughly 1.4× MGIC INVESTMENT CORP). MGIC INVESTMENT CORP runs the higher net margin — 55.6% vs 35.7%, a 19.9% gap on every dollar of revenue. On growth, NATIONAL FUEL GAS CO posted the faster year-over-year revenue change (1.7% vs -3.0%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs -1.4%).
MGIC Investment Corporation NYSE: MTG ("MGIC") is a provider of private mortgage insurance in the United States. The company is headquartered in Milwaukee, Wisconsin.
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.
MTG vs NFG — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $297.1M | $425.9M |
| Net Profit | $165.3M | $152.0M |
| Gross Margin | — | — |
| Operating Margin | — | 81.5% |
| Net Margin | 55.6% | 35.7% |
| Revenue YoY | -3.0% | 1.7% |
| Net Profit YoY | -10.9% | — |
| EPS (diluted) | $0.76 | $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 | $297.1M | $425.9M | ||
| Q4 25 | $298.7M | $637.9M | ||
| Q3 25 | $304.5M | $443.1M | ||
| Q2 25 | $304.2M | $527.4M | ||
| Q1 25 | $306.2M | $734.8M | ||
| Q4 24 | $301.4M | $513.8M | ||
| Q3 24 | $306.6M | $310.0M | ||
| Q2 24 | $305.3M | $338.6M |
| Q1 26 | $165.3M | $152.0M | ||
| Q4 25 | $169.3M | $181.6M | ||
| Q3 25 | $191.1M | $107.3M | ||
| Q2 25 | $192.5M | $149.8M | ||
| Q1 25 | $185.5M | $216.4M | ||
| Q4 24 | $184.7M | $45.0M | ||
| Q3 24 | $200.0M | $-167.6M | ||
| Q2 24 | $204.2M | $-54.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 86.6% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 94.7% | ||
| Q1 25 | — | 81.6% | ||
| Q4 24 | — | 87.3% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 98.5% |
| Q1 26 | — | 81.5% | ||
| Q4 25 | 71.2% | 43.3% | ||
| Q3 25 | 77.2% | 40.6% | ||
| Q2 25 | 80.9% | 43.7% | ||
| Q1 25 | 76.6% | 43.2% | ||
| Q4 24 | 77.9% | 16.8% | ||
| Q3 24 | 82.9% | -63.4% | ||
| Q2 24 | 85.1% | -15.2% |
| Q1 26 | 55.6% | 35.7% | ||
| Q4 25 | 56.7% | 28.5% | ||
| Q3 25 | 62.8% | 24.2% | ||
| Q2 25 | 63.3% | 28.4% | ||
| Q1 25 | 60.6% | 29.4% | ||
| Q4 24 | 61.3% | 8.8% | ||
| Q3 24 | 65.2% | -54.1% | ||
| Q2 24 | 66.9% | -16.0% |
| Q1 26 | $0.76 | $1.59 | ||
| Q4 25 | $0.75 | $1.98 | ||
| Q3 25 | $0.83 | $1.18 | ||
| Q2 25 | $0.81 | $1.64 | ||
| Q1 25 | $0.75 | $2.37 | ||
| Q4 24 | $0.71 | $0.49 | ||
| Q3 24 | $0.77 | $-1.81 | ||
| Q2 24 | $0.77 | $-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 | $235.1M | — |
| Total DebtLower is stronger | — | $300.0M |
| Stockholders' EquityBook value | $5.0B | — |
| Total Assets | $6.4B | $9.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $235.1M | — | ||
| Q4 25 | $369.0M | $271.4M | ||
| Q3 25 | $266.9M | $43.2M | ||
| Q2 25 | $294.9M | $39.3M | ||
| Q1 25 | $207.0M | $40.0M | ||
| Q4 24 | $229.5M | $48.7M | ||
| Q3 24 | $288.6M | $38.2M | ||
| Q2 24 | $281.8M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.7B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.7B |
| Q1 26 | $5.0B | — | ||
| Q4 25 | $5.1B | $3.6B | ||
| Q3 25 | $5.2B | $3.1B | ||
| Q2 25 | $5.2B | $3.0B | ||
| Q1 25 | $5.1B | $2.8B | ||
| Q4 24 | $5.2B | $-76.2M | ||
| Q3 24 | $5.3B | $-15.5M | ||
| Q2 24 | $5.1B | $5.0M |
| Q1 26 | $6.4B | $9.1B | ||
| Q4 25 | $6.6B | $9.2B | ||
| Q3 25 | $6.6B | $8.7B | ||
| Q2 25 | $6.5B | $8.4B | ||
| Q1 25 | $6.5B | $8.5B | ||
| Q4 24 | $6.5B | $8.3B | ||
| Q3 24 | $6.7B | $8.3B | ||
| Q2 24 | $6.5B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.99× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 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 | — | $657.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 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 | $230.8M | $274.9M | ||
| Q3 25 | $215.4M | $237.8M | ||
| Q2 25 | $183.0M | $388.4M | ||
| Q1 25 | $223.7M | $253.8M | ||
| Q4 24 | $182.4M | $220.1M | ||
| Q3 24 | $182.9M | $197.9M | ||
| Q2 24 | $169.2M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $230.2M | $-2.7M | ||
| Q3 25 | $215.1M | $-47.8M | ||
| Q2 25 | $183.0M | $195.3M | ||
| Q1 25 | $223.5M | $59.9M | ||
| Q4 24 | $181.9M | $-20.3M | ||
| Q3 24 | $182.5M | $-49.1M | ||
| Q2 24 | $169.0M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | 77.1% | -0.4% | ||
| Q3 25 | 70.6% | -10.8% | ||
| Q2 25 | 60.1% | 37.0% | ||
| Q1 25 | 73.0% | 8.2% | ||
| Q4 24 | 60.3% | -4.0% | ||
| Q3 24 | 59.5% | -15.8% | ||
| Q2 24 | 55.3% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 0.2% | 43.5% | ||
| Q3 25 | 0.1% | 64.4% | ||
| Q2 25 | 0.0% | 36.6% | ||
| Q1 25 | 0.0% | 26.4% | ||
| Q4 24 | 0.2% | 46.8% | ||
| Q3 24 | 0.1% | 79.7% | ||
| Q2 24 | 0.1% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | 1.36× | 1.51× | ||
| Q3 25 | 1.13× | 2.21× | ||
| Q2 25 | 0.95× | 2.59× | ||
| Q1 25 | 1.21× | 1.17× | ||
| Q4 24 | 0.99× | 4.89× | ||
| Q3 24 | 0.91× | — | ||
| Q2 24 | 0.83× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MTG
Segment breakdown not available.
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
