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Side-by-side financial comparison of New Fortress Energy Inc. (NFE) and ONTO INNOVATION INC. (ONTO). Click either name above to swap in a different company.
New Fortress Energy Inc. is the larger business by last-quarter revenue ($326.2M vs $218.2M, roughly 1.5× ONTO INNOVATION INC.). ONTO INNOVATION INC. runs the higher net margin — 12.9% vs -259.7%, a 272.6% gap on every dollar of revenue. On growth, New Fortress Energy Inc. posted the faster year-over-year revenue change (-7.0% vs -13.5%). ONTO INNOVATION INC. produced more free cash flow last quarter ($82.0M vs $-134.8M). Over the past eight quarters, ONTO INNOVATION INC.'s revenue compounded faster (2.6% CAGR vs -26.8%).
New Fortress Energy Inc. is a global energy infrastructure firm developing, owning and operating LNG import/export terminals, natural gas supply networks and low-carbon projects. It serves utility, industrial and public sector clients across the Americas and Caribbean, delivering affordable, lower-emission energy resources.
Onto Innovation Inc. is an American semiconductor company formed in 2019 from the merger of Rudolph Technologies, Inc. and Nanometrics Incorporated. It is a provider of process and process control equipment and software for microelectronic manufacturing industries.
NFE vs ONTO — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $326.2M | $218.2M |
| Net Profit | $-847.1M | $28.2M |
| Gross Margin | 35.5% | 50.7% |
| Operating Margin | -193.0% | 10.9% |
| Net Margin | -259.7% | 12.9% |
| Revenue YoY | -7.0% | -13.5% |
| Net Profit YoY | -277.4% | -46.8% |
| EPS (diluted) | $-3.03 | $0.57 |
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.
| Q4 25 | $326.2M | — | ||
| Q3 25 | $240.3M | $218.2M | ||
| Q2 25 | $228.1M | $253.6M | ||
| Q1 25 | $384.9M | $266.6M | ||
| Q4 24 | $350.7M | $263.9M | ||
| Q3 24 | $446.0M | $252.2M | ||
| Q2 24 | $291.2M | $242.3M | ||
| Q1 24 | $609.5M | $228.8M |
| Q4 25 | $-847.1M | — | ||
| Q3 25 | $-263.0M | $28.2M | ||
| Q2 25 | $-546.5M | $33.9M | ||
| Q1 25 | $-175.4M | $64.1M | ||
| Q4 24 | $-224.4M | $48.8M | ||
| Q3 24 | $9.3M | $53.1M | ||
| Q2 24 | $-88.9M | $52.9M | ||
| Q1 24 | $54.1M | $46.9M |
| Q4 25 | 35.5% | — | ||
| Q3 25 | 18.1% | 50.7% | ||
| Q2 25 | 8.4% | 48.2% | ||
| Q1 25 | 21.4% | 53.7% | ||
| Q4 24 | 17.6% | 50.2% | ||
| Q3 24 | 27.1% | 54.1% | ||
| Q2 24 | 23.8% | 52.9% | ||
| Q1 24 | 62.4% | 51.7% |
| Q4 25 | -193.0% | — | ||
| Q3 25 | -37.4% | 10.9% | ||
| Q2 25 | -170.3% | 12.7% | ||
| Q1 25 | -3.3% | 23.7% | ||
| Q4 24 | 65.0% | 16.1% | ||
| Q3 24 | 17.8% | 21.0% | ||
| Q2 24 | 12.3% | 20.2% | ||
| Q1 24 | 30.4% | 18.7% |
| Q4 25 | -259.7% | — | ||
| Q3 25 | -109.4% | 12.9% | ||
| Q2 25 | -239.6% | 13.4% | ||
| Q1 25 | -45.6% | 24.0% | ||
| Q4 24 | -64.0% | 18.5% | ||
| Q3 24 | 2.1% | 21.0% | ||
| Q2 24 | -30.5% | 21.9% | ||
| Q1 24 | 8.9% | 20.5% |
| Q4 25 | $-3.03 | — | ||
| Q3 25 | $-0.96 | $0.57 | ||
| Q2 25 | $-1.99 | $0.69 | ||
| Q1 25 | $-0.65 | $1.30 | ||
| Q4 24 | $-1.10 | $0.98 | ||
| Q3 24 | $0.03 | $1.07 | ||
| Q2 24 | $-0.42 | $1.07 | ||
| Q1 24 | $0.23 | $0.94 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $226.5M | $603.1M |
| Total DebtLower is stronger | $8.2B | — |
| Stockholders' EquityBook value | $182.6M | $2.0B |
| Total Assets | $10.6B | $2.2B |
| Debt / EquityLower = less leverage | 44.78× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $226.5M | — | ||
| Q3 25 | $145.2M | $603.1M | ||
| Q2 25 | $551.1M | $217.5M | ||
| Q1 25 | $447.9M | $203.7M | ||
| Q4 24 | $492.9M | $212.9M | ||
| Q3 24 | $90.8M | $188.7M | ||
| Q2 24 | $133.0M | $172.6M | ||
| Q1 24 | $143.5M | $190.9M |
| Q4 25 | $8.2B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $8.9B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $182.6M | — | ||
| Q3 25 | $1.1B | $2.0B | ||
| Q2 25 | $1.3B | $2.0B | ||
| Q1 25 | $1.8B | $1.9B | ||
| Q4 24 | $1.9B | $1.9B | ||
| Q3 24 | $1.6B | $1.9B | ||
| Q2 24 | $1.6B | $1.8B | ||
| Q1 24 | $1.7B | $1.8B |
| Q4 25 | $10.6B | — | ||
| Q3 25 | $12.0B | $2.2B | ||
| Q2 25 | $12.0B | $2.1B | ||
| Q1 25 | $13.1B | $2.1B | ||
| Q4 24 | $12.9B | $2.1B | ||
| Q3 24 | $12.0B | $2.1B | ||
| Q2 24 | $11.4B | $2.0B | ||
| Q1 24 | $10.9B | $2.0B |
| Q4 25 | 44.78× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.74× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-76.2M | $83.4M |
| Free Cash FlowOCF − Capex | $-134.8M | $82.0M |
| FCF MarginFCF / Revenue | -41.3% | 37.6% |
| Capex IntensityCapex / Revenue | 18.0% | 0.6% |
| Cash ConversionOCF / Net Profit | — | 2.95× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.4B | $261.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-76.2M | — | ||
| Q3 25 | $-171.0M | $83.4M | ||
| Q2 25 | $-329.0M | $57.9M | ||
| Q1 25 | $-7.2M | $92.0M | ||
| Q4 24 | $445.3M | $56.0M | ||
| Q3 24 | $-20.0M | $67.2M | ||
| Q2 24 | $113.9M | $65.3M | ||
| Q1 24 | $63.0M | $57.1M |
| Q4 25 | $-134.8M | — | ||
| Q3 25 | $-231.6M | $82.0M | ||
| Q2 25 | $-726.7M | $44.2M | ||
| Q1 25 | $-262.3M | $83.7M | ||
| Q4 24 | $-210.3M | $51.4M | ||
| Q3 24 | $-367.0M | $59.2M | ||
| Q2 24 | $-493.2M | $53.0M | ||
| Q1 24 | $-457.9M | $50.2M |
| Q4 25 | -41.3% | — | ||
| Q3 25 | -96.4% | 37.6% | ||
| Q2 25 | -318.6% | 17.4% | ||
| Q1 25 | -68.2% | 31.4% | ||
| Q4 24 | -60.0% | 19.5% | ||
| Q3 24 | -82.3% | 23.5% | ||
| Q2 24 | -169.3% | 21.9% | ||
| Q1 24 | -75.1% | 21.9% |
| Q4 25 | 18.0% | — | ||
| Q3 25 | 25.2% | 0.6% | ||
| Q2 25 | 174.4% | 5.4% | ||
| Q1 25 | 66.3% | 3.1% | ||
| Q4 24 | 187.0% | 1.8% | ||
| Q3 24 | 77.8% | 3.2% | ||
| Q2 24 | 208.4% | 5.1% | ||
| Q1 24 | 85.5% | 3.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | — | 1.44× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | -2.15× | 1.27× | ||
| Q2 24 | — | 1.23× | ||
| Q1 24 | 1.16× | 1.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NFE
Segment breakdown not available.
ONTO
| Systems And Software Revenue | $173.8M | 80% |
| Parts Revenue | $23.9M | 11% |
| Service Revenue | $20.5M | 9% |
