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New Fortress Energy vs National Fuel Gas: revenue, profit, margins and growth compared

New Fortress Energy brought in $1.5B of revenue in fiscal 2025, National Fuel Gas $2.3B in fiscal 2025. Revenue changed by -36.2% at New Fortress Energy and +17.1% at National Fuel Gas on the year before, so National Fuel Gas grew faster. New Fortress Energy kept -122.7% of its revenue as net profit, National Fuel Gas 22.8%. Free cash flow was -$1.2B at New Fortress Energy and $187.2M at National Fuel Gas.

Side by side, latest fiscal year

NFENFG
Fiscal year endedFY2025 (December 31, 2025)FY2025 (September 30, 2025)
Revenue$1.5B$2.3B
Revenue growth-36.2%+17.1%
Net income-$1.8B$518.5M
Net margin-122.7%22.8%
Free cash flow-$1.2B$187.2M
Free cash flow margin-82.1%8.2%
Earnings per share (diluted)-$6.63$5.68
Cash$226.5M$43.2M
Debt$8.2B$2.7B
Price to earningsn/a13.9
Market value$1.9B$7.5B
Dividend yieldn/a2.66%
Rank by revenue in sector#66 of 109 · Utilities#56 of 109 · Utilities

Over the years

Revenue
NFE FY2019: $112.3MNFE FY2019: $189.1MNFE FY2020: $451.7MNFE FY2021: $1.3BNFE FY2022: $2.4BNFE FY2023: $2.4BNFE FY2024: $2.4BNFE FY2025: $1.5BNFG FY2018: $1.6BNFG FY2019: $1.7BNFG FY2020: $1.5BNFG FY2021: $1.7BNFG FY2022: $3.1BNFG FY2023: $2.3BNFG FY2024: $1.9BNFG FY2025: $2.3BFY18FY19FY20FY21FY22FY23FY24FY25
NFE $1.5BNFG $2.3B
Net income
NFE FY2019: -$78.1MNFE FY2019: -$33.8MNFE FY2020: -$182.1MNFE FY2021: $97.1MNFE FY2022: $194.5MNFE FY2023: $547.9MNFE FY2024: -$272.3MNFE FY2025: -$1.8BNFG FY2018: $391.5MNFG FY2019: $304.3MNFG FY2020: -$123.8MNFG FY2021: $363.6MNFG FY2022: $566MNFG FY2023: $476.9MNFG FY2024: $77.5MNFG FY2025: $518.5MFY18FY19FY20FY21FY22FY23FY24FY25
NFE -$1.8BNFG $518.5M
Net margin
NFE FY2019: -69.5%NFE FY2019: -17.9%NFE FY2020: -40.3%NFE FY2021: 7.3%NFE FY2022: 8.2%NFE FY2023: 22.9%NFE FY2024: -11.5%NFE FY2025: -122.7%NFG FY2018: 24.6%NFG FY2019: 18.0%NFG FY2020: -8.0%NFG FY2021: 20.9%NFG FY2022: 18.5%NFG FY2023: 21.1%NFG FY2024: 4.0%NFG FY2025: 22.8%FY18FY19FY20FY21FY22FY23FY24FY25
NFE -122.7%NFG 22.8%
Revenue growth
NFE FY2019: +68.4%NFE FY2020: +138.8%NFE FY2021: +192.9%NFE FY2022: +79.0%NFE FY2023: +0.9%NFE FY2024: -1.3%NFE FY2025: -36.2%NFG FY2019: +6.3%NFG FY2020: -8.7%NFG FY2021: +12.7%NFG FY2022: +75.7%NFG FY2023: -26.3%NFG FY2024: -13.8%NFG FY2025: +17.1%FY19FY20FY21FY22FY23FY24FY25
NFE -36.2%NFG +17.1%
Free cash flow
NFE FY2019: -$274.4MNFE FY2019: -$611.3MNFE FY2020: -$282.6MNFE FY2021: -$584.6MNFE FY2022: -$818.9MNFE FY2023: -$2.1BNFE FY2024: -$1.5BNFE FY2025: -$1.2BNFG FY2018: $31.3MNFG FY2019: -$94.5MNFG FY2020: $24.7MNFG FY2021: $39.8MNFG FY2022: $695KNFG FY2023: $227.2MNFG FY2024: $134.7MNFG FY2025: $187.2MFY18FY19FY20FY21FY22FY23FY24FY25
NFE -$1.2BNFG $187.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about New Fortress Energy and National Fuel Gas

Which is bigger by revenue, New Fortress Energy or National Fuel Gas?

National Fuel Gas is bigger by revenue: $2.3B in fiscal 2025, against $1.5B for New Fortress Energy in fiscal 2025.

Which keeps more of its revenue as profit, New Fortress Energy or National Fuel Gas?

New Fortress Energy had a net margin of -122.7% in fiscal 2025; National Fuel Gas had 22.8% in fiscal 2025.

Which grew revenue faster, New Fortress Energy or National Fuel Gas?

In their latest fiscal years revenue changed by -36.2% at New Fortress Energy and +17.1% at National Fuel Gas.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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