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Side-by-side financial comparison of NATIONAL FUEL GAS CO (NFG) and WESBANCO INC (WSBC). 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 $257.2M, roughly 1.7× WESBANCO INC). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 34.5%, a 1.2% gap on every dollar of revenue. Over the past eight quarters, WESBANCO INC's revenue compounded faster (31.9% 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.
WesBanco, Inc., is a bank holding company headquartered in Wheeling, West Virginia, United States. It has over 200 branches in West Virginia, Ohio, Western Pennsylvania, Kentucky, Maryland, and Southern Indiana.
NFG vs WSBC — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $425.9M | $257.2M |
| Net Profit | $152.0M | $88.6M |
| Gross Margin | — | — |
| Operating Margin | 81.5% | — |
| Net Margin | 35.7% | 34.5% |
| Revenue YoY | 1.7% | — |
| Net Profit YoY | — | 54.4% |
| EPS (diluted) | $1.59 | $0.88 |
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 | $257.2M | ||
| Q4 25 | $637.9M | $265.6M | ||
| Q3 25 | $443.1M | $261.6M | ||
| Q2 25 | $527.4M | $260.7M | ||
| Q1 25 | $734.8M | $193.2M | ||
| Q4 24 | $513.8M | $162.9M | ||
| Q3 24 | $310.0M | $150.8M | ||
| Q2 24 | $338.6M | $147.9M |
| Q1 26 | $152.0M | $88.6M | ||
| Q4 25 | $181.6M | $91.1M | ||
| Q3 25 | $107.3M | $83.6M | ||
| Q2 25 | $149.8M | $57.4M | ||
| Q1 25 | $216.4M | $-9.0M | ||
| Q4 24 | $45.0M | $49.6M | ||
| Q3 24 | $-167.6M | $37.3M | ||
| Q2 24 | $-54.2M | $28.9M |
| 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% | 43.2% | ||
| Q3 25 | 40.6% | 39.5% | ||
| Q2 25 | 43.7% | 27.2% | ||
| Q1 25 | 43.2% | -5.0% | ||
| Q4 24 | 16.8% | 38.0% | ||
| Q3 24 | -63.4% | 29.7% | ||
| Q2 24 | -15.2% | 23.7% |
| Q1 26 | 35.7% | 34.5% | ||
| Q4 25 | 28.5% | 34.3% | ||
| Q3 25 | 24.2% | 31.9% | ||
| Q2 25 | 28.4% | 22.0% | ||
| Q1 25 | 29.4% | -4.7% | ||
| Q4 24 | 8.8% | 30.5% | ||
| Q3 24 | -54.1% | 24.7% | ||
| Q2 24 | -16.0% | 19.5% |
| Q1 26 | $1.59 | $0.88 | ||
| Q4 25 | $1.98 | $0.97 | ||
| Q3 25 | $1.18 | $0.84 | ||
| Q2 25 | $1.64 | $0.57 | ||
| Q1 25 | $2.37 | $-0.15 | ||
| Q4 24 | $0.49 | $0.72 | ||
| Q3 24 | $-1.81 | $0.54 | ||
| Q2 24 | $-0.59 | $0.44 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | $300.0M | — |
| Stockholders' EquityBook value | — | $4.1B |
| Total Assets | $9.1B | $27.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $271.4M | $956.1M | ||
| Q3 25 | $43.2M | $1.0B | ||
| Q2 25 | $39.3M | $1.2B | ||
| Q1 25 | $40.0M | $1.1B | ||
| Q4 24 | $48.7M | $568.1M | ||
| Q3 24 | $38.2M | $620.9M | ||
| Q2 24 | $81.4M | $486.8M |
| 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 | — | $4.1B | ||
| Q4 25 | $3.6B | $4.0B | ||
| Q3 25 | $3.1B | $4.1B | ||
| Q2 25 | $3.0B | $3.8B | ||
| Q1 25 | $2.8B | $3.8B | ||
| Q4 24 | $-76.2M | $2.8B | ||
| Q3 24 | $-15.5M | $2.8B | ||
| Q2 24 | $5.0M | $2.5B |
| Q1 26 | $9.1B | $27.5B | ||
| Q4 25 | $9.2B | $27.7B | ||
| Q3 25 | $8.7B | $27.5B | ||
| Q2 25 | $8.4B | $27.6B | ||
| Q1 25 | $8.5B | $27.4B | ||
| Q4 24 | $8.3B | $18.7B | ||
| Q3 24 | $8.3B | $18.5B | ||
| Q2 24 | $8.5B | $18.1B |
| 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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 117.0% | — |
| Cash ConversionOCF / Net Profit | 4.32× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $657.3M | — | ||
| Q4 25 | $274.9M | $290.4M | ||
| Q3 25 | $237.8M | $116.9M | ||
| Q2 25 | $388.4M | $105.0M | ||
| Q1 25 | $253.8M | $-26.4M | ||
| Q4 24 | $220.1M | $211.0M | ||
| Q3 24 | $197.9M | $60.7M | ||
| Q2 24 | $281.8M | $18.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.7M | $280.0M | ||
| Q3 25 | $-47.8M | $114.9M | ||
| Q2 25 | $195.3M | $98.3M | ||
| Q1 25 | $59.9M | $-30.7M | ||
| Q4 24 | $-20.3M | $200.7M | ||
| Q3 24 | $-49.1M | $56.9M | ||
| Q2 24 | $79.5M | $17.3M |
| Q1 26 | — | — | ||
| Q4 25 | -0.4% | 105.4% | ||
| Q3 25 | -10.8% | 43.9% | ||
| Q2 25 | 37.0% | 37.7% | ||
| Q1 25 | 8.2% | -15.9% | ||
| Q4 24 | -4.0% | 123.2% | ||
| Q3 24 | -15.8% | 37.7% | ||
| Q2 24 | 23.5% | 11.7% |
| Q1 26 | 117.0% | — | ||
| Q4 25 | 43.5% | 3.9% | ||
| Q3 25 | 64.4% | 0.8% | ||
| Q2 25 | 36.6% | 2.6% | ||
| Q1 25 | 26.4% | 2.2% | ||
| Q4 24 | 46.8% | 6.3% | ||
| Q3 24 | 79.7% | 2.5% | ||
| Q2 24 | 59.7% | 0.6% |
| Q1 26 | 4.32× | — | ||
| Q4 25 | 1.51× | 3.19× | ||
| Q3 25 | 2.21× | 1.40× | ||
| Q2 25 | 2.59× | 1.83× | ||
| Q1 25 | 1.17× | — | ||
| Q4 24 | 4.89× | 4.25× | ||
| Q3 24 | — | 1.63× | ||
| Q2 24 | — | 0.63× |
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% |
WSBC
| Net Interest Income | $215.4M | 84% |
| Noninterest Income | $41.8M | 16% |
