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Side-by-side financial comparison of Metallus Inc. (MTUS) and NORTHERN OIL & GAS, INC. (NOG). Click either name above to swap in a different company.
NORTHERN OIL & GAS, INC. is the larger business by last-quarter revenue ($610.2M vs $308.3M, roughly 2.0× Metallus Inc.). Metallus Inc. runs the higher net margin — 1.8% vs -11.6%, a 13.3% gap on every dollar of revenue. On growth, Metallus Inc. posted the faster year-over-year revenue change (9.9% vs -72.6%). Over the past eight quarters, NORTHERN OIL & GAS, INC.'s revenue compounded faster (4.3% CAGR vs 2.3%).
Marathon Oil Corporation was an American company engaged in hydrocarbon exploration. In November 2024, it was acquired by ConocoPhillips and absorbed into the company.
MTUS vs NOG — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $308.3M | $610.2M |
| Net Profit | $5.4M | $-70.7M |
| Gross Margin | 8.1% | — |
| Operating Margin | — | — |
| Net Margin | 1.8% | -11.6% |
| Revenue YoY | 9.9% | -72.6% |
| Net Profit YoY | 315.4% | -198.7% |
| EPS (diluted) | $0.13 | $-0.73 |
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 | $308.3M | $610.2M | ||
| Q4 25 | $267.3M | $610.2M | ||
| Q3 25 | $305.9M | $556.6M | ||
| Q2 25 | $304.6M | $706.8M | ||
| Q1 25 | $280.5M | $602.1M | ||
| Q4 24 | $240.5M | $515.0M | ||
| Q3 24 | $227.2M | $753.6M | ||
| Q2 24 | $294.7M | $560.8M |
| Q1 26 | $5.4M | $-70.7M | ||
| Q4 25 | $-14.3M | $-70.7M | ||
| Q3 25 | $8.1M | $-129.1M | ||
| Q2 25 | $3.7M | $99.6M | ||
| Q1 25 | $1.3M | $139.0M | ||
| Q4 24 | $-21.4M | $71.7M | ||
| Q3 24 | $-5.9M | $298.4M | ||
| Q2 24 | $4.6M | $138.6M |
| Q1 26 | 8.1% | — | ||
| Q4 25 | 2.2% | 80.4% | ||
| Q3 25 | 11.4% | 78.7% | ||
| Q2 25 | 10.6% | 82.8% | ||
| Q1 25 | 7.8% | 81.1% | ||
| Q4 24 | 4.5% | 77.4% | ||
| Q3 24 | 5.3% | 85.8% | ||
| Q2 24 | 8.2% | 82.0% |
| Q1 26 | — | — | ||
| Q4 25 | -7.7% | -5.5% | ||
| Q3 25 | 3.6% | -22.6% | ||
| Q2 25 | 2.8% | 24.9% | ||
| Q1 25 | 1.0% | 38.1% | ||
| Q4 24 | -10.1% | 25.8% | ||
| Q3 24 | -3.1% | 57.6% | ||
| Q2 24 | 2.1% | 39.0% |
| Q1 26 | 1.8% | -11.6% | ||
| Q4 25 | -5.3% | -11.6% | ||
| Q3 25 | 2.6% | -23.2% | ||
| Q2 25 | 1.2% | 14.1% | ||
| Q1 25 | 0.5% | 23.1% | ||
| Q4 24 | -8.9% | 13.9% | ||
| Q3 24 | -2.6% | 39.6% | ||
| Q2 24 | 1.6% | 24.7% |
| Q1 26 | $0.13 | $-0.73 | ||
| Q4 25 | $-0.34 | $-0.67 | ||
| Q3 25 | $0.19 | $-1.33 | ||
| Q2 25 | $0.09 | $1.00 | ||
| Q1 25 | $0.03 | $1.39 | ||
| Q4 24 | $-0.46 | $0.71 | ||
| Q3 24 | $-0.13 | $2.96 | ||
| Q2 24 | $0.10 | $1.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $104.0M | $14.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $683.0M | $2.1B |
| Total Assets | $1.1B | $5.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $104.0M | $14.3M | ||
| Q4 25 | $156.7M | $14.3M | ||
| Q3 25 | $191.5M | $31.6M | ||
| Q2 25 | $190.8M | $25.9M | ||
| Q1 25 | $180.3M | $33.6M | ||
| Q4 24 | $240.7M | $8.9M | ||
| Q3 24 | $254.6M | $34.4M | ||
| Q2 24 | $272.8M | $7.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.4B | ||
| Q3 25 | $0 | $2.3B | ||
| Q2 25 | $0 | $2.4B | ||
| Q1 25 | $5.4M | $2.3B | ||
| Q4 24 | $5.4M | $2.4B | ||
| Q3 24 | $13.2M | $2.0B | ||
| Q2 24 | $13.2M | $1.9B |
| Q1 26 | $683.0M | $2.1B | ||
| Q4 25 | $686.0M | $2.1B | ||
| Q3 25 | $697.7M | $2.2B | ||
| Q2 25 | $690.0M | $2.4B | ||
| Q1 25 | $686.1M | $2.4B | ||
| Q4 24 | $690.5M | $2.3B | ||
| Q3 24 | $712.7M | $2.3B | ||
| Q2 24 | $736.3M | $2.1B |
| Q1 26 | $1.1B | $5.4B | ||
| Q4 25 | $1.1B | $5.4B | ||
| Q3 25 | $1.2B | $5.5B | ||
| Q2 25 | $1.1B | $5.7B | ||
| Q1 25 | $1.1B | $5.7B | ||
| Q4 24 | $1.1B | $5.6B | ||
| Q3 24 | $1.1B | $5.1B | ||
| Q2 24 | $1.1B | $4.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.13× | ||
| Q3 25 | 0.00× | 1.05× | ||
| Q2 25 | 0.00× | 0.98× | ||
| Q1 25 | 0.01× | 0.96× | ||
| Q4 24 | 0.01× | 1.02× | ||
| Q3 24 | 0.02× | 0.84× | ||
| Q2 24 | 0.02× | 0.91× |
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 | — | $312.6M |
| Free Cash FlowOCF − Capex | — | $43.2M |
| FCF MarginFCF / Revenue | — | 7.1% |
| Capex IntensityCapex / Revenue | 0.0% | 31.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $312.6M | ||
| Q4 25 | $-1.9M | $312.6M | ||
| Q3 25 | $22.0M | $423.1M | ||
| Q2 25 | $34.8M | $362.1M | ||
| Q1 25 | $-38.9M | $407.4M | ||
| Q4 24 | $13.9M | $290.3M | ||
| Q3 24 | $-15.3M | $385.8M | ||
| Q2 24 | $8.3M | $340.5M |
| Q1 26 | — | $43.2M | ||
| Q4 25 | $-37.2M | — | ||
| Q3 25 | $-6.4M | — | ||
| Q2 25 | $17.0M | — | ||
| Q1 25 | $-66.4M | — | ||
| Q4 24 | $-1.3M | — | ||
| Q3 24 | $-32.9M | — | ||
| Q2 24 | $-5.8M | — |
| Q1 26 | — | 7.1% | ||
| Q4 25 | -13.9% | — | ||
| Q3 25 | -2.1% | — | ||
| Q2 25 | 5.6% | — | ||
| Q1 25 | -23.7% | — | ||
| Q4 24 | -0.5% | — | ||
| Q3 24 | -14.5% | — | ||
| Q2 24 | -2.0% | — |
| Q1 26 | 0.0% | 31.5% | ||
| Q4 25 | 13.2% | — | ||
| Q3 25 | 9.3% | — | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | 9.8% | — | ||
| Q4 24 | 6.3% | — | ||
| Q3 24 | 7.7% | — | ||
| Q2 24 | 4.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 2.72× | — | ||
| Q2 25 | 9.41× | 3.64× | ||
| Q1 25 | -29.92× | 2.93× | ||
| Q4 24 | — | 4.05× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | 1.80× | 2.46× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MTUS
Segment breakdown not available.
NOG
| Oil and Gas Sales | $447.7M | 73% |
| Gain on Commodity Derivatives, Net | $159.3M | 26% |
| Other Revenue | $3.1M | 1% |
