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Side-by-side financial comparison of NATIONAL FUEL GAS CO (NFG) and PEGASYSTEMS INC (PEGA). Click either name above to swap in a different company.
NATIONAL FUEL GAS CO is the larger business by last-quarter revenue ($637.9M vs $430.0M, roughly 1.5× PEGASYSTEMS INC). NATIONAL FUEL GAS CO runs the higher net margin — 28.5% vs 7.6%, a 20.9% gap on every dollar of revenue. On growth, NATIONAL FUEL GAS CO posted the faster year-over-year revenue change (24.1% vs -9.6%). PEGASYSTEMS INC produced more free cash flow last quarter ($206.5M vs $-2.7M). Over the past eight quarters, PEGASYSTEMS INC's revenue compounded faster (10.7% CAGR vs 6.9%).
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.
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
NFG vs PEGA — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $637.9M | $430.0M |
| Net Profit | $181.6M | $32.8M |
| Gross Margin | 86.6% | 75.2% |
| Operating Margin | 43.3% | 8.6% |
| Net Margin | 28.5% | 7.6% |
| Revenue YoY | 24.1% | -9.6% |
| Net Profit YoY | 303.8% | -61.6% |
| EPS (diluted) | $1.98 | $0.18 |
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 | — | $430.0M | ||
| Q4 25 | $637.9M | $504.3M | ||
| Q3 25 | $443.1M | $381.4M | ||
| Q2 25 | $527.4M | $384.5M | ||
| Q1 25 | $734.8M | $475.6M | ||
| Q4 24 | $513.8M | $490.8M | ||
| Q3 24 | $310.0M | $325.1M | ||
| Q2 24 | $338.6M | $351.2M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | $181.6M | $234.6M | ||
| Q3 25 | $107.3M | $43.4M | ||
| Q2 25 | $149.8M | $30.1M | ||
| Q1 25 | $216.4M | $85.4M | ||
| Q4 24 | $45.0M | $119.1M | ||
| Q3 24 | $-167.6M | $-14.4M | ||
| Q2 24 | $-54.2M | $6.6M |
| Q1 26 | — | 75.2% | ||
| Q4 25 | 86.6% | 79.5% | ||
| Q3 25 | — | 72.2% | ||
| Q2 25 | 94.7% | 71.5% | ||
| Q1 25 | 81.6% | 78.5% | ||
| Q4 24 | 87.3% | 79.1% | ||
| Q3 24 | — | 70.2% | ||
| Q2 24 | 98.5% | 72.4% |
| Q1 26 | — | 8.6% | ||
| Q4 25 | 43.3% | 20.7% | ||
| Q3 25 | 40.6% | 3.8% | ||
| Q2 25 | 43.7% | 4.5% | ||
| Q1 25 | 43.2% | 26.7% | ||
| Q4 24 | 16.8% | 29.1% | ||
| Q3 24 | -63.4% | -3.6% | ||
| Q2 24 | -15.2% | 3.7% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | 28.5% | 46.5% | ||
| Q3 25 | 24.2% | 11.4% | ||
| Q2 25 | 28.4% | 7.8% | ||
| Q1 25 | 29.4% | 18.0% | ||
| Q4 24 | 8.8% | 24.3% | ||
| Q3 24 | -54.1% | -4.4% | ||
| Q2 24 | -16.0% | 1.9% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | $1.98 | $0.81 | ||
| Q3 25 | $1.18 | $0.24 | ||
| Q2 25 | $1.64 | $0.17 | ||
| Q1 25 | $2.37 | $0.91 | ||
| Q4 24 | $0.49 | $1.35 | ||
| Q3 24 | $-1.81 | $-0.17 | ||
| Q2 24 | $-0.59 | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $271.4M | $270.0M |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $3.6B | $705.9M |
| Total Assets | $9.2B | $1.6B |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $270.0M | ||
| Q4 25 | $271.4M | $425.8M | ||
| Q3 25 | $43.2M | $351.4M | ||
| Q2 25 | $39.3M | $411.6M | ||
| Q1 25 | $40.0M | $371.7M | ||
| Q4 24 | $48.7M | $740.0M | ||
| Q3 24 | $38.2M | $703.0M | ||
| Q2 24 | $81.4M | $665.1M |
| Q1 26 | — | — | ||
| 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 | — | $705.9M | ||
| Q4 25 | $3.6B | $787.4M | ||
| Q3 25 | $3.1B | $596.8M | ||
| Q2 25 | $3.0B | $624.5M | ||
| Q1 25 | $2.8B | $611.3M | ||
| Q4 24 | $-76.2M | $585.5M | ||
| Q3 24 | $-15.5M | $473.0M | ||
| Q2 24 | $5.0M | $435.4M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $9.2B | $1.6B | ||
| Q3 25 | $8.7B | $1.3B | ||
| Q2 25 | $8.4B | $1.3B | ||
| Q1 25 | $8.5B | $1.3B | ||
| Q4 24 | $8.3B | $1.8B | ||
| Q3 24 | $8.3B | $1.6B | ||
| Q2 24 | $8.5B | $1.5B |
| 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 | $274.9M | — |
| Free Cash FlowOCF − Capex | $-2.7M | $206.5M |
| FCF MarginFCF / Revenue | -0.4% | 48.0% |
| Capex IntensityCapex / Revenue | 43.5% | — |
| Cash ConversionOCF / Net Profit | 1.51× | — |
| TTM Free Cash FlowTrailing 4 quarters | $204.8M | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $274.9M | $158.4M | ||
| Q3 25 | $237.8M | $56.3M | ||
| Q2 25 | $388.4M | $86.3M | ||
| Q1 25 | $253.8M | $204.2M | ||
| Q4 24 | $220.1M | $95.2M | ||
| Q3 24 | $197.9M | $30.5M | ||
| Q2 24 | $281.8M | $40.1M |
| Q1 26 | — | $206.5M | ||
| Q4 25 | $-2.7M | $152.4M | ||
| Q3 25 | $-47.8M | $51.8M | ||
| Q2 25 | $195.3M | $84.1M | ||
| Q1 25 | $59.9M | $202.3M | ||
| Q4 24 | $-20.3M | $92.4M | ||
| Q3 24 | $-49.1M | $27.4M | ||
| Q2 24 | $79.5M | $38.8M |
| Q1 26 | — | 48.0% | ||
| Q4 25 | -0.4% | 30.2% | ||
| Q3 25 | -10.8% | 13.6% | ||
| Q2 25 | 37.0% | 21.9% | ||
| Q1 25 | 8.2% | 42.5% | ||
| Q4 24 | -4.0% | 18.8% | ||
| Q3 24 | -15.8% | 8.4% | ||
| Q2 24 | 23.5% | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | 43.5% | 1.2% | ||
| Q3 25 | 64.4% | 1.2% | ||
| Q2 25 | 36.6% | 0.6% | ||
| Q1 25 | 26.4% | 0.4% | ||
| Q4 24 | 46.8% | 0.6% | ||
| Q3 24 | 79.7% | 0.9% | ||
| Q2 24 | 59.7% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.51× | 0.68× | ||
| Q3 25 | 2.21× | 1.30× | ||
| Q2 25 | 2.59× | 2.87× | ||
| Q1 25 | 1.17× | 2.39× | ||
| Q4 24 | 4.89× | 0.80× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 6.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NFG
| Natural Gas Production | $302.5M | 47% |
| Natural Gas Residential Sales | $198.0M | 31% |
| Pipeline And Storage | $69.2M | 11% |
| Natural Gas Commercial Sales | $27.9M | 4% |
| Natural Gas Storage | $25.1M | 4% |
| Other | $4.1M | 1% |
| Natural Gas Midstream | $2.8M | 0% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
