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Side-by-side financial comparison of NATIONAL FUEL GAS CO (NFG) and Vital Farms, Inc. (VITL). 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 $213.6M, roughly 2.0× Vital Farms, Inc.). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 7.6%, a 28.1% gap on every dollar of revenue. On growth, Vital Farms, Inc. posted the faster year-over-year revenue change (28.7% vs 1.7%). Over the past eight quarters, Vital Farms, Inc.'s revenue compounded faster (20.2% 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.
Vital Tomosi Dairy Limited is a dairy processing company in Uganda. The company is a joint venture between Vital Capital Fund, "an impact investing fund primarily focused on Sub-Saharan Africa", and "Tomosi Dairy Farms, a Ugandan producer of dairy products".
NFG vs VITL — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $425.9M | $213.6M |
| Net Profit | $152.0M | $16.3M |
| Gross Margin | — | 35.8% |
| Operating Margin | 81.5% | 10.0% |
| Net Margin | 35.7% | 7.6% |
| Revenue YoY | 1.7% | 28.7% |
| Net Profit YoY | — | 54.3% |
| EPS (diluted) | $1.59 | $0.35 |
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 | $213.6M | ||
| Q3 25 | $443.1M | $198.9M | ||
| Q2 25 | $527.4M | $184.8M | ||
| Q1 25 | $734.8M | $162.2M | ||
| Q4 24 | $513.8M | $166.0M | ||
| Q3 24 | $310.0M | $145.0M | ||
| Q2 24 | $338.6M | $147.4M |
| Q1 26 | $152.0M | — | ||
| Q4 25 | $181.6M | $16.3M | ||
| Q3 25 | $107.3M | $16.4M | ||
| Q2 25 | $149.8M | $16.6M | ||
| Q1 25 | $216.4M | $16.9M | ||
| Q4 24 | $45.0M | $10.6M | ||
| Q3 24 | $-167.6M | $7.4M | ||
| Q2 24 | $-54.2M | $16.3M |
| Q1 26 | — | — | ||
| Q4 25 | 86.6% | 35.8% | ||
| Q3 25 | — | 37.7% | ||
| Q2 25 | 94.7% | 38.9% | ||
| Q1 25 | 81.6% | 38.5% | ||
| Q4 24 | 87.3% | 36.1% | ||
| Q3 24 | — | 36.9% | ||
| Q2 24 | 98.5% | 39.1% |
| Q1 26 | 81.5% | — | ||
| Q4 25 | 43.3% | 10.0% | ||
| Q3 25 | 40.6% | 10.8% | ||
| Q2 25 | 43.7% | 12.9% | ||
| Q1 25 | 43.2% | 13.4% | ||
| Q4 24 | 16.8% | 7.8% | ||
| Q3 24 | -63.4% | 6.4% | ||
| Q2 24 | -15.2% | 11.6% |
| Q1 26 | 35.7% | — | ||
| Q4 25 | 28.5% | 7.6% | ||
| Q3 25 | 24.2% | 8.3% | ||
| Q2 25 | 28.4% | 9.0% | ||
| Q1 25 | 29.4% | 10.4% | ||
| Q4 24 | 8.8% | 6.4% | ||
| Q3 24 | -54.1% | 5.1% | ||
| Q2 24 | -16.0% | 11.1% |
| Q1 26 | $1.59 | — | ||
| Q4 25 | $1.98 | $0.35 | ||
| Q3 25 | $1.18 | $0.36 | ||
| Q2 25 | $1.64 | $0.36 | ||
| Q1 25 | $2.37 | $0.37 | ||
| Q4 24 | $0.49 | $0.23 | ||
| Q3 24 | $-1.81 | $0.16 | ||
| Q2 24 | $-0.59 | $0.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $48.8M |
| Total DebtLower is stronger | $300.0M | — |
| Stockholders' EquityBook value | — | $351.3M |
| Total Assets | $9.1B | $518.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $271.4M | $48.8M | ||
| Q3 25 | $43.2M | $93.8M | ||
| Q2 25 | $39.3M | $108.2M | ||
| Q1 25 | $40.0M | $156.3M | ||
| Q4 24 | $48.7M | $150.6M | ||
| Q3 24 | $38.2M | $149.5M | ||
| Q2 24 | $81.4M | $133.2M |
| 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 | $351.3M | ||
| Q3 25 | $3.1B | $331.2M | ||
| Q2 25 | $3.0B | $309.8M | ||
| Q1 25 | $2.8B | $288.9M | ||
| Q4 24 | $-76.2M | $269.3M | ||
| Q3 24 | $-15.5M | $253.4M | ||
| Q2 24 | $5.0M | $238.4M |
| Q1 26 | $9.1B | — | ||
| Q4 25 | $9.2B | $518.7M | ||
| Q3 25 | $8.7B | $481.5M | ||
| Q2 25 | $8.4B | $430.8M | ||
| Q1 25 | $8.5B | $376.9M | ||
| Q4 24 | $8.3B | $359.3M | ||
| Q3 24 | $8.3B | $344.7M | ||
| Q2 24 | $8.5B | $320.5M |
| 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 | $5.8M |
| Free Cash FlowOCF − Capex | — | $-32.1M |
| FCF MarginFCF / Revenue | — | -15.1% |
| Capex IntensityCapex / Revenue | 117.0% | 17.8% |
| Cash ConversionOCF / Net Profit | 4.32× | 0.35× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-48.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $657.3M | — | ||
| Q4 25 | $274.9M | $5.8M | ||
| Q3 25 | $237.8M | $23.4M | ||
| Q2 25 | $388.4M | $-761.0K | ||
| Q1 25 | $253.8M | $5.3M | ||
| Q4 24 | $220.1M | $14.8M | ||
| Q3 24 | $197.9M | $10.0M | ||
| Q2 24 | $281.8M | $16.1M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.7M | $-32.1M | ||
| Q3 25 | $-47.8M | $-10.6M | ||
| Q2 25 | $195.3M | $-7.6M | ||
| Q1 25 | $59.9M | $2.1M | ||
| Q4 24 | $-20.3M | $-3.4M | ||
| Q3 24 | $-49.1M | $6.4M | ||
| Q2 24 | $79.5M | $10.5M |
| Q1 26 | — | — | ||
| Q4 25 | -0.4% | -15.1% | ||
| Q3 25 | -10.8% | -5.3% | ||
| Q2 25 | 37.0% | -4.1% | ||
| Q1 25 | 8.2% | 1.3% | ||
| Q4 24 | -4.0% | -2.0% | ||
| Q3 24 | -15.8% | 4.4% | ||
| Q2 24 | 23.5% | 7.2% |
| Q1 26 | 117.0% | — | ||
| Q4 25 | 43.5% | 17.8% | ||
| Q3 25 | 64.4% | 17.1% | ||
| Q2 25 | 36.6% | 3.7% | ||
| Q1 25 | 26.4% | 1.9% | ||
| Q4 24 | 46.8% | 10.9% | ||
| Q3 24 | 79.7% | 2.5% | ||
| Q2 24 | 59.7% | 3.8% |
| Q1 26 | 4.32× | — | ||
| Q4 25 | 1.51× | 0.35× | ||
| Q3 25 | 2.21× | 1.43× | ||
| Q2 25 | 2.59× | -0.05× | ||
| Q1 25 | 1.17× | 0.31× | ||
| Q4 24 | 4.89× | 1.40× | ||
| Q3 24 | — | 1.34× | ||
| Q2 24 | — | 0.99× |
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% |
VITL
| Eggs And Egg Related Products | $205.8M | 96% |
| Butter And Butter Related Products | $7.7M | 4% |
