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Side-by-side financial comparison of NATIONAL FUEL GAS CO (NFG) and Smith Douglas Homes Corp. (SDHC). 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 $260.4M, roughly 1.6× Smith Douglas Homes Corp.). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 1.4%, a 34.3% gap on every dollar of revenue. On growth, NATIONAL FUEL GAS CO posted the faster year-over-year revenue change (1.7% vs -9.4%). Over the past eight quarters, Smith Douglas Homes Corp.'s revenue compounded faster (17.3% CAGR vs 12.1%).
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.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
NFG vs SDHC — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $425.9M | $260.4M |
| Net Profit | $152.0M | $3.5M |
| Gross Margin | — | 19.9% |
| Operating Margin | 81.5% | 6.5% |
| Net Margin | 35.7% | 1.4% |
| Revenue YoY | 1.7% | -9.4% |
| Net Profit YoY | — | -14.3% |
| EPS (diluted) | $1.59 | $0.39 |
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 | $260.4M | ||
| Q3 25 | $443.1M | $262.0M | ||
| Q2 25 | $527.4M | $223.9M | ||
| Q1 25 | $734.8M | $224.7M | ||
| Q4 24 | $513.8M | $287.5M | ||
| Q3 24 | $310.0M | $277.8M | ||
| Q2 24 | $338.6M | $220.9M |
| Q1 26 | $152.0M | — | ||
| Q4 25 | $181.6M | $3.5M | ||
| Q3 25 | $107.3M | $2.1M | ||
| Q2 25 | $149.8M | $2.4M | ||
| Q1 25 | $216.4M | $2.7M | ||
| Q4 24 | $45.0M | $4.1M | ||
| Q3 24 | $-167.6M | $5.3M | ||
| Q2 24 | $-54.2M | $3.6M |
| Q1 26 | — | — | ||
| Q4 25 | 86.6% | 19.9% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | 94.7% | 23.2% | ||
| Q1 25 | 81.6% | 23.8% | ||
| Q4 24 | 87.3% | 25.5% | ||
| Q3 24 | — | 26.5% | ||
| Q2 24 | 98.5% | 26.7% |
| Q1 26 | 81.5% | — | ||
| Q4 25 | 43.3% | 6.5% | ||
| Q3 25 | 40.6% | 6.6% | ||
| Q2 25 | 43.7% | 7.7% | ||
| Q1 25 | 43.2% | 8.7% | ||
| Q4 24 | 16.8% | 10.4% | ||
| Q3 24 | -63.4% | 14.2% | ||
| Q2 24 | -15.2% | 11.7% |
| Q1 26 | 35.7% | — | ||
| Q4 25 | 28.5% | 1.4% | ||
| Q3 25 | 24.2% | 0.8% | ||
| Q2 25 | 28.4% | 1.1% | ||
| Q1 25 | 29.4% | 1.2% | ||
| Q4 24 | 8.8% | 1.4% | ||
| Q3 24 | -54.1% | 1.9% | ||
| Q2 24 | -16.0% | 1.7% |
| Q1 26 | $1.59 | — | ||
| Q4 25 | $1.98 | $0.39 | ||
| Q3 25 | $1.18 | $0.24 | ||
| Q2 25 | $1.64 | $0.26 | ||
| Q1 25 | $2.37 | $0.30 | ||
| Q4 24 | $0.49 | $0.50 | ||
| Q3 24 | $-1.81 | $0.58 | ||
| Q2 24 | $-0.59 | $0.40 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $12.7M |
| Total DebtLower is stronger | $300.0M | — |
| Stockholders' EquityBook value | — | $86.7M |
| Total Assets | $9.1B | $557.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $271.4M | $12.7M | ||
| Q3 25 | $43.2M | $14.8M | ||
| Q2 25 | $39.3M | $16.8M | ||
| Q1 25 | $40.0M | $12.7M | ||
| Q4 24 | $48.7M | $22.4M | ||
| Q3 24 | $38.2M | $23.7M | ||
| Q2 24 | $81.4M | $17.3M |
| 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 | — | — | ||
| Q4 25 | $3.6B | $86.7M | ||
| Q3 25 | $3.1B | $82.2M | ||
| Q2 25 | $3.0B | $80.0M | ||
| Q1 25 | $2.8B | $76.9M | ||
| Q4 24 | $-76.2M | $73.6M | ||
| Q3 24 | $-15.5M | $68.4M | ||
| Q2 24 | $5.0M | $62.1M |
| Q1 26 | $9.1B | — | ||
| Q4 25 | $9.2B | $557.6M | ||
| Q3 25 | $8.7B | $571.6M | ||
| Q2 25 | $8.4B | $570.2M | ||
| Q1 25 | $8.5B | $513.9M | ||
| Q4 24 | $8.3B | $475.9M | ||
| Q3 24 | $8.3B | $460.1M | ||
| Q2 24 | $8.5B | $429.3M |
| 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 | $9.8M |
| Free Cash FlowOCF − Capex | — | $8.7M |
| FCF MarginFCF / Revenue | — | 3.4% |
| Capex IntensityCapex / Revenue | 117.0% | 0.4% |
| Cash ConversionOCF / Net Profit | 4.32× | 2.77× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-36.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $657.3M | — | ||
| Q4 25 | $274.9M | $9.8M | ||
| Q3 25 | $237.8M | $22.8M | ||
| Q2 25 | $388.4M | $-28.9M | ||
| Q1 25 | $253.8M | $-34.9M | ||
| Q4 24 | $220.1M | $5.5M | ||
| Q3 24 | $197.9M | $22.9M | ||
| Q2 24 | $281.8M | $39.0K |
| Q1 26 | — | — | ||
| Q4 25 | $-2.7M | $8.7M | ||
| Q3 25 | $-47.8M | $21.4M | ||
| Q2 25 | $195.3M | $-31.1M | ||
| Q1 25 | $59.9M | $-35.9M | ||
| Q4 24 | $-20.3M | $4.8M | ||
| Q3 24 | $-49.1M | $22.3M | ||
| Q2 24 | $79.5M | $-2.1M |
| Q1 26 | — | — | ||
| Q4 25 | -0.4% | 3.4% | ||
| Q3 25 | -10.8% | 8.2% | ||
| Q2 25 | 37.0% | -13.9% | ||
| Q1 25 | 8.2% | -16.0% | ||
| Q4 24 | -4.0% | 1.7% | ||
| Q3 24 | -15.8% | 8.0% | ||
| Q2 24 | 23.5% | -1.0% |
| Q1 26 | 117.0% | — | ||
| Q4 25 | 43.5% | 0.4% | ||
| Q3 25 | 64.4% | 0.5% | ||
| Q2 25 | 36.6% | 0.9% | ||
| Q1 25 | 26.4% | 0.5% | ||
| Q4 24 | 46.8% | 0.2% | ||
| Q3 24 | 79.7% | 0.2% | ||
| Q2 24 | 59.7% | 1.0% |
| Q1 26 | 4.32× | — | ||
| Q4 25 | 1.51× | 2.77× | ||
| Q3 25 | 2.21× | 10.70× | ||
| Q2 25 | 2.59× | -12.24× | ||
| Q1 25 | 1.17× | -13.01× | ||
| Q4 24 | 4.89× | 1.33× | ||
| Q3 24 | — | 4.28× | ||
| Q2 24 | — | 0.01× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
SDHC
| Southeast | $164.7M | 63% |
| Central | $95.8M | 37% |
