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Side-by-side financial comparison of NL INDUSTRIES INC (NL) and Orange County Bancorp, Inc. (OBT). Click either name above to swap in a different company.

NL INDUSTRIES INC is the larger business by last-quarter revenue ($37.7M vs $33.0M, roughly 1.1× Orange County Bancorp, Inc.). Orange County Bancorp, Inc. runs the higher net margin — 37.6% vs -82.2%, a 119.8% gap on every dollar of revenue. On growth, Orange County Bancorp, Inc. posted the faster year-over-year revenue change (20.6% vs -1.9%). Orange County Bancorp, Inc. produced more free cash flow last quarter ($41.3M vs $-4.7M). Over the past eight quarters, Orange County Bancorp, Inc.'s revenue compounded faster (14.3% CAGR vs -0.4%).

NL Industries, formerly known as the National Lead Company, is a lead smelting company currently based in Houston, Texas. National Lead was one of the 12 original stocks included in the Dow Jones Industrial Average at the time of its creation on May 26, 1896.

Orange County Bancorp, Inc. is a Delaware-registered bank holding company operating mainly in New York, U.S. It offers a full range of retail and commercial banking services, including deposit accounts, loans and wealth management solutions, serving individual consumers, small and mid-sized corporate clients in its regional footprint.

NL vs OBT — Head-to-Head

Bigger by revenue
NL
NL
1.1× larger
NL
$37.7M
$33.0M
OBT
Growing faster (revenue YoY)
OBT
OBT
+22.5% gap
OBT
20.6%
-1.9%
NL
Higher net margin
OBT
OBT
119.8% more per $
OBT
37.6%
-82.2%
NL
More free cash flow
OBT
OBT
$46.1M more FCF
OBT
$41.3M
$-4.7M
NL
Faster 2-yr revenue CAGR
OBT
OBT
Annualised
OBT
14.3%
-0.4%
NL

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
NL
NL
OBT
OBT
Revenue
$37.7M
$33.0M
Net Profit
$-31.0M
$12.4M
Gross Margin
32.1%
Operating Margin
7.6%
41.4%
Net Margin
-82.2%
37.6%
Revenue YoY
-1.9%
20.6%
Net Profit YoY
-287.2%
73.5%
EPS (diluted)
$-0.63
$0.94

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.

Revenue
NL
NL
OBT
OBT
Q4 25
$37.7M
$33.0M
Q3 25
$40.0M
$33.7M
Q2 25
$40.4M
$32.5M
Q1 25
$40.3M
$28.0M
Q4 24
$38.4M
$27.4M
Q3 24
$33.7M
$27.1M
Q2 24
$35.9M
$27.9M
Q1 24
$38.0M
$25.3M
Net Profit
NL
NL
OBT
OBT
Q4 25
$-31.0M
$12.4M
Q3 25
$-7.9M
$10.0M
Q2 25
$355.0K
$10.5M
Q1 25
$667.0K
$8.7M
Q4 24
$16.5M
$7.2M
Q3 24
$36.0M
$3.2M
Q2 24
$7.8M
$8.2M
Q1 24
$6.8M
$9.3M
Gross Margin
NL
NL
OBT
OBT
Q4 25
32.1%
Q3 25
27.6%
Q2 25
31.9%
Q1 25
30.2%
Q4 24
28.8%
Q3 24
28.1%
Q2 24
31.1%
Q1 24
25.5%
Operating Margin
NL
NL
OBT
OBT
Q4 25
7.6%
41.4%
Q3 25
4.6%
38.6%
Q2 25
6.9%
41.9%
Q1 25
7.8%
40.3%
Q4 24
87.7%
32.8%
Q3 24
6.0%
14.8%
Q2 24
2.2%
36.6%
Q1 24
3.6%
45.9%
Net Margin
NL
NL
OBT
OBT
Q4 25
-82.2%
37.6%
Q3 25
-19.7%
29.7%
Q2 25
0.9%
32.2%
Q1 25
1.7%
31.1%
Q4 24
43.1%
26.2%
Q3 24
107.0%
11.8%
Q2 24
21.8%
29.4%
Q1 24
18.0%
36.7%
EPS (diluted)
NL
NL
OBT
OBT
Q4 25
$-0.63
$0.94
Q3 25
$-0.16
$0.75
Q2 25
$0.01
$0.87
Q1 25
$0.01
$0.77
Q4 24
$0.34
$0.64
Q3 24
$0.74
$0.28
Q2 24
$0.16
$0.73
Q1 24
$0.14
$0.82

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
NL
NL
OBT
OBT
Cash + ST InvestmentsLiquidity on hand
$110.6M
Total DebtLower is stronger
Stockholders' EquityBook value
$358.8M
$284.4M
Total Assets
$464.2M
$2.7B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
NL
NL
OBT
OBT
Q4 25
$110.6M
Q3 25
$101.9M
Q2 25
$111.5M
Q1 25
$110.0M
Q4 24
$163.2M
Q3 24
$146.0M
Q2 24
$179.4M
Q1 24
$167.9M
Stockholders' Equity
NL
NL
OBT
OBT
Q4 25
$358.8M
$284.4M
Q3 25
$375.4M
$270.1M
Q2 25
$397.6M
$252.6M
Q1 25
$397.6M
$201.3M
Q4 24
$396.9M
$185.5M
Q3 24
$386.0M
$193.1M
Q2 24
$373.1M
$177.5M
Q1 24
$368.1M
$168.7M
Total Assets
NL
NL
OBT
OBT
Q4 25
$464.2M
$2.7B
Q3 25
$500.2M
$2.6B
Q2 25
$523.7M
$2.6B
Q1 25
$520.0M
$2.6B
Q4 24
$578.3M
$2.5B
Q3 24
$585.6M
$2.5B
Q2 24
$580.0M
$2.5B
Q1 24
$568.8M
$2.5B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
NL
NL
OBT
OBT
Operating Cash FlowLast quarter
$-4.2M
$43.8M
Free Cash FlowOCF − Capex
$-4.7M
$41.3M
FCF MarginFCF / Revenue
-12.6%
125.1%
Capex IntensityCapex / Revenue
1.6%
7.6%
Cash ConversionOCF / Net Profit
3.53×
TTM Free Cash FlowTrailing 4 quarters
$-40.1M
$69.6M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
NL
NL
OBT
OBT
Q4 25
$-4.2M
$43.8M
Q3 25
$7.9M
$30.2M
Q2 25
$7.3M
$-5.0M
Q1 25
$-47.5M
$4.8M
Q4 24
$9.0M
$34.6M
Q3 24
$-5.7M
$10.2M
Q2 24
$15.5M
$9.3M
Q1 24
$6.7M
$2.3M
Free Cash Flow
NL
NL
OBT
OBT
Q4 25
$-4.7M
$41.3M
Q3 25
$7.0M
$29.6M
Q2 25
$5.9M
$-5.7M
Q1 25
$-48.3M
$4.3M
Q4 24
$8.7M
$32.9M
Q3 24
$-6.1M
$10.0M
Q2 24
$15.1M
$9.2M
Q1 24
$6.4M
$2.0M
FCF Margin
NL
NL
OBT
OBT
Q4 25
-12.6%
125.1%
Q3 25
17.4%
87.8%
Q2 25
14.7%
-17.5%
Q1 25
-119.9%
15.5%
Q4 24
22.8%
120.0%
Q3 24
-18.3%
36.7%
Q2 24
42.1%
32.8%
Q1 24
17.0%
7.9%
Capex Intensity
NL
NL
OBT
OBT
Q4 25
1.6%
7.6%
Q3 25
2.5%
1.8%
Q2 25
3.3%
2.3%
Q1 25
2.0%
1.8%
Q4 24
0.6%
6.3%
Q3 24
1.4%
1.1%
Q2 24
1.2%
0.4%
Q1 24
0.8%
1.0%
Cash Conversion
NL
NL
OBT
OBT
Q4 25
3.53×
Q3 25
3.01×
Q2 25
20.53×
-0.47×
Q1 25
-71.18×
0.56×
Q4 24
0.54×
4.83×
Q3 24
-0.16×
3.19×
Q2 24
1.98×
1.13×
Q1 24
0.99×
0.24×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

NL
NL

Security Products$29.5M78%
Marine Components$8.2M22%

OBT
OBT

Segment breakdown not available.

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