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Side-by-side financial comparison of NATIONAL FUEL GAS CO (NFG) and Bristow Group Inc. (VTOL). 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 $377.3M, roughly 1.1× Bristow Group Inc.). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 4.9%, a 30.8% gap on every dollar of revenue. On growth, Bristow Group Inc. posted the faster year-over-year revenue change (6.7% vs 1.7%). Over the past eight quarters, NATIONAL FUEL GAS CO's revenue compounded faster (12.1% CAGR vs 5.8%).
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.
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
NFG vs VTOL — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $425.9M | $377.3M |
| Net Profit | $152.0M | $18.4M |
| Gross Margin | — | — |
| Operating Margin | 81.5% | 8.5% |
| Net Margin | 35.7% | 4.9% |
| Revenue YoY | 1.7% | 6.7% |
| Net Profit YoY | — | -42.1% |
| EPS (diluted) | $1.59 | $0.61 |
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 | $377.3M | ||
| Q3 25 | $443.1M | $386.3M | ||
| Q2 25 | $527.4M | $376.4M | ||
| Q1 25 | $734.8M | $350.5M | ||
| Q4 24 | $513.8M | $353.5M | ||
| Q3 24 | $310.0M | $365.1M | ||
| Q2 24 | $338.6M | $359.7M |
| Q1 26 | $152.0M | — | ||
| Q4 25 | $181.6M | $18.4M | ||
| Q3 25 | $107.3M | $51.5M | ||
| Q2 25 | $149.8M | $31.7M | ||
| Q1 25 | $216.4M | $27.4M | ||
| Q4 24 | $45.0M | $31.8M | ||
| Q3 24 | $-167.6M | $28.2M | ||
| Q2 24 | $-54.2M | $28.2M |
| Q1 26 | — | — | ||
| Q4 25 | 86.6% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 94.7% | — | ||
| Q1 25 | 81.6% | — | ||
| Q4 24 | 87.3% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 98.5% | — |
| Q1 26 | 81.5% | — | ||
| Q4 25 | 43.3% | 8.5% | ||
| Q3 25 | 40.6% | 13.1% | ||
| Q2 25 | 43.7% | 11.3% | ||
| Q1 25 | 43.2% | 9.6% | ||
| Q4 24 | 16.8% | 9.0% | ||
| Q3 24 | -63.4% | 9.1% | ||
| Q2 24 | -15.2% | 12.4% |
| Q1 26 | 35.7% | — | ||
| Q4 25 | 28.5% | 4.9% | ||
| Q3 25 | 24.2% | 13.3% | ||
| Q2 25 | 28.4% | 8.4% | ||
| Q1 25 | 29.4% | 7.8% | ||
| Q4 24 | 8.8% | 9.0% | ||
| Q3 24 | -54.1% | 7.7% | ||
| Q2 24 | -16.0% | 7.8% |
| Q1 26 | $1.59 | — | ||
| Q4 25 | $1.98 | $0.61 | ||
| Q3 25 | $1.18 | $1.72 | ||
| Q2 25 | $1.64 | $1.07 | ||
| Q1 25 | $2.37 | $0.92 | ||
| Q4 24 | $0.49 | $1.07 | ||
| Q3 24 | $-1.81 | $0.95 | ||
| Q2 24 | $-0.59 | $0.96 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $286.2M |
| Total DebtLower is stronger | $300.0M | $671.5M |
| Stockholders' EquityBook value | — | $1.1B |
| Total Assets | $9.1B | $2.3B |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $271.4M | $286.2M | ||
| Q3 25 | $43.2M | $245.5M | ||
| Q2 25 | $39.3M | $251.8M | ||
| Q1 25 | $40.0M | $191.1M | ||
| Q4 24 | $48.7M | $247.5M | ||
| Q3 24 | $38.2M | $200.3M | ||
| Q2 24 | $81.4M | $178.6M |
| Q1 26 | $300.0M | — | ||
| Q4 25 | $2.7B | $671.5M | ||
| Q3 25 | $2.7B | $675.0M | ||
| Q2 25 | $2.7B | $705.2M | ||
| Q1 25 | $2.7B | $701.9M | ||
| Q4 24 | $2.7B | $689.8M | ||
| Q3 24 | $2.7B | $629.1M | ||
| Q2 24 | $2.7B | $594.2M |
| Q1 26 | — | — | ||
| Q4 25 | $3.6B | $1.1B | ||
| Q3 25 | $3.1B | $1.0B | ||
| Q2 25 | $3.0B | $984.4M | ||
| Q1 25 | $2.8B | $931.7M | ||
| Q4 24 | $-76.2M | $891.7M | ||
| Q3 24 | $-15.5M | $899.2M | ||
| Q2 24 | $5.0M | $849.1M |
| Q1 26 | $9.1B | — | ||
| Q4 25 | $9.2B | $2.3B | ||
| Q3 25 | $8.7B | $2.3B | ||
| Q2 25 | $8.4B | $2.3B | ||
| Q1 25 | $8.5B | $2.2B | ||
| Q4 24 | $8.3B | $2.1B | ||
| Q3 24 | $8.3B | $2.1B | ||
| Q2 24 | $8.5B | $2.0B |
| Q1 26 | — | — | ||
| Q4 25 | 0.75× | 0.63× | ||
| Q3 25 | 0.87× | 0.65× | ||
| Q2 25 | 0.90× | 0.72× | ||
| Q1 25 | 0.99× | 0.75× | ||
| Q4 24 | — | 0.77× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | 532.10× | 0.70× |
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 | $76.9M |
| Free Cash FlowOCF − Capex | — | $47.8M |
| FCF MarginFCF / Revenue | — | 12.7% |
| Capex IntensityCapex / Revenue | 117.0% | 7.7% |
| Cash ConversionOCF / Net Profit | 4.32× | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | — | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $657.3M | — | ||
| Q4 25 | $274.9M | $76.9M | ||
| Q3 25 | $237.8M | $23.1M | ||
| Q2 25 | $388.4M | $99.0M | ||
| Q1 25 | $253.8M | $-603.0K | ||
| Q4 24 | $220.1M | $51.1M | ||
| Q3 24 | $197.9M | $66.0M | ||
| Q2 24 | $281.8M | $33.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.7M | $47.8M | ||
| Q3 25 | $-47.8M | $-6.2M | ||
| Q2 25 | $195.3M | $67.4M | ||
| Q1 25 | $59.9M | $-52.7M | ||
| Q4 24 | $-20.3M | $-32.4M | ||
| Q3 24 | $-49.1M | $9.0M | ||
| Q2 24 | $79.5M | $-16.7M |
| Q1 26 | — | — | ||
| Q4 25 | -0.4% | 12.7% | ||
| Q3 25 | -10.8% | -1.6% | ||
| Q2 25 | 37.0% | 17.9% | ||
| Q1 25 | 8.2% | -15.0% | ||
| Q4 24 | -4.0% | -9.2% | ||
| Q3 24 | -15.8% | 2.5% | ||
| Q2 24 | 23.5% | -4.6% |
| Q1 26 | 117.0% | — | ||
| Q4 25 | 43.5% | 7.7% | ||
| Q3 25 | 64.4% | 7.6% | ||
| Q2 25 | 36.6% | 8.4% | ||
| Q1 25 | 26.4% | 14.9% | ||
| Q4 24 | 46.8% | 23.6% | ||
| Q3 24 | 79.7% | 15.6% | ||
| Q2 24 | 59.7% | 14.0% |
| Q1 26 | 4.32× | — | ||
| Q4 25 | 1.51× | 4.17× | ||
| Q3 25 | 2.21× | 0.45× | ||
| Q2 25 | 2.59× | 3.12× | ||
| Q1 25 | 1.17× | -0.02× | ||
| Q4 24 | 4.89× | 1.61× | ||
| Q3 24 | — | 2.34× | ||
| Q2 24 | — | 1.20× |
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% |
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
