(NFG) National Fuel Gas - Overview
Sector: Energy | Industry: Oil & Gas Integrated | Exchange: NYSE (USA) | Market Cap: 7.690m USD | Total Return: -0.3% in 12m
Avg Turnover: 70.3M
EPS Trend: 20.5%
Qual. Beats: 0
Rev. Trend: 52.2%
Qual. Beats: 0
Warnings
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
National Fuel Gas Company (NFG) is a diversified energy firm with vertically integrated operations across the natural gas supply chain. The company manages three primary segments: Integrated Upstream and Gathering, Pipeline and Storage, and Utility. Its upstream division focuses on the exploration and production of natural gas and oil in the Appalachian region, supported by proprietary gathering infrastructure. The midstream segment operates an extensive interstate pipeline system and underground storage facilities serving the Northeastern United States, while the utility division provides retail natural gas distribution to customers in New York and Pennsylvania.
The company utilizes an integrated business model designed to capture value from the wellhead to the end-user, a structure that can mitigate volatility compared to pure-play exploration firms. In the gas utilities sector, revenue is often regulated, providing a baseline of cash flow stability that supports long-term infrastructure investment. For a deeper look into these financial fundamentals, ValueRay provides additional analytical tools. Founded in 1902, National Fuel Gas remains one of the oldest integrated energy companies in the United States.
- Natural gas price volatility directly impacts upstream exploration and production revenue
- Appalachian basin gathering expansion drives midstream throughput and steady cash flow
- Regulatory environment in New York affects utility rate cases and infrastructure investment
- Interstate pipeline projects and storage demand influence long-term contracted service margins
- Capital expenditure efficiency in the Marcellus and Utica shales determines dividend sustainability
| Net Income: 686.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 2.53 > 1.0 |
| NWC/Revenue: -12.51% < 20% (prev -30.68%; Δ 18.17% < -1%) |
| CFO/TA 0.14 > 3% & CFO 1.28b > Net Income 686.5m |
| Net Debt (2.40b) to EBITDA (1.53b): 1.57 < 3 |
| Current Ratio: 0.62 > 1.5 & < 3 |
| Outstanding Shares: last quarter (95.7m) vs 12m ago 4.95% < -2% |
| Gross Margin: 50.04% > 18% (prev 0.44%; Δ 4.96k% > 0.5%) |
| Asset Turnover: 28.38% > 50% (prev 24.40%; Δ 3.98% > 0%) |
| Interest Coverage Ratio: 7.01 > 6 (EBITDA TTM 1.53b / Interest Expense TTM 150.4m) |
| A: -0.03 (Total Current Assets 507.6m - Total Current Liabilities 820.1m) / Total Assets 9.13b |
| B: 0.26 (Retained Earnings 2.34b / Total Assets 9.13b) |
| C: 0.12 (EBIT TTM 1.05b / Avg Total Assets 8.80b) |
| D: 0.46 (Book Value of Equity 2.44b / Total Liabilities 5.30b) |
| Altman-Z'' = 1.90 = BBB |
| DSRI: 0.65 (Receivables 292.5m/370.1m, Revenue 2.50b/2.07b) |
| GMI: 0.88 (GM 50.04% / 43.84%) |
| AQI: -11.87 (AQ_t -0.79 / AQ_t-1 0.07) |
| SGI: 1.21 (Revenue 2.50b / 2.07b) |
| TATA: -0.07 (NI 686.5m - CFO 1.28b) / TA 9.13b) |
| Beneish M = -10.98 (Cap -4..+1) = AAA |
As of May 26, 2026, the stock is trading at USD 80.92 with a total of 739,200 shares traded.
Over the past week, the price has changed by -0.38%,
over one month by -8.93%,
over three months by -8.03% and
over the past year by -0.31%.
National Fuel Gas has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy NFG.
- StrongBuy: 2
- Buy: 0
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 101.7 | 25.6% |
P/E Trailing = 10.9351
P/E Forward = 10.6952
P/S = 3.0663
P/B = 2.0195
P/EG = 1.5526
Revenue TTM = 2.50b USD
EBIT TTM = 1.05b USD
EBITDA TTM = 1.53b USD
Long Term Debt = 2.08b USD (from longTermDebt, last quarter)
Short Term Debt = 341.3m USD (from shortTermDebt, last quarter)
Debt = 2.43b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.40b USD (calculated: Debt 2.43b - CCE 26.6m)
Enterprise Value = 10.1b USD (7.69b + Debt 2.43b - CCE 26.6m)
Interest Coverage Ratio = 7.01 (Ebit TTM 1.05b / Interest Expense TTM 150.4m)
EV/FCF = 32.91x (Enterprise Value 10.1b / FCF TTM 306.6m)
FCF Yield = 3.04% (FCF TTM 306.6m / Enterprise Value 10.1b)
FCF Margin = 12.27% (FCF TTM 306.6m / Revenue TTM 2.50b)
Net Margin = 27.48% (Net Income TTM 686.5m / Revenue TTM 2.50b)
Gross Margin = 50.04% ((Revenue TTM 2.50b - Cost of Revenue TTM 1.25b) / Revenue TTM)
Gross Margin QoQ = 43.39% (prev 46.18%)
Tobins Q-Ratio = 1.11 (Enterprise Value 10.1b / Total Assets 9.13b)
Interest Expense / Debt = 6.20% (Interest Expense 150.4m / Debt 2.43b)
Taxrate = 25.04% (82.7m / 330.4m)
NOPAT = 790.8m (EBIT 1.05b * (1 - 25.04%))
Current Ratio = 0.62 (Total Current Assets 507.6m / Total Current Liabilities 820.1m)
Debt / Equity = 0.63 (Debt 2.43b / totalStockholderEquity, last quarter 3.82b)
Debt / EBITDA = 1.57 (Net Debt 2.40b / EBITDA 1.53b)
Debt / FCF = 7.83 (Net Debt 2.40b / FCF TTM 306.6m)
Total Stockholder Equity = 3.37b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.80% (Net Income 686.5m / Total Assets 9.13b)
RoE = 20.37% (Net Income TTM 686.5m / Total Stockholder Equity 3.37b)
RoCE = 19.34% (EBIT 1.05b / Capital Employed (Equity 3.37b + L.T.Debt 2.08b))
RoIC = 9.16% (NOPAT 790.8m / Invested Capital 8.64b)
WACC = 5.32% (E(7.69b)/V(10.1b) * Re(5.53%) + D(2.43b)/V(10.1b) * Rd(6.20%) * (1-Tc(0.25)))
Discount Rate = 5.53% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -15.56 | Cagr: 1.55%
[DCF] Terminal Value 77.97% ; FCFF base≈212.0m ; Y1≈243.0m ; Y5≈357.6m
[DCF] Fair Price = 31.38 (EV 5.38b - Net Debt 2.40b = Equity 2.98b / Shares 95.0m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 20.54 | EPS CAGR: 9.03% | SUE: -0.29 | # QB: 0
Revenue Correlation: 52.21 | Revenue CAGR: 4.98% | SUE: 0.03 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.51 | Chg30d=-9.67% | Revisions=-50% | Analysts=5
EPS current Year (2026-09-30): EPS=7.52 | Chg30d=-3.38% | Revisions=-25% | GrowthEPS=+8.8% | GrowthRev=+14.0%
EPS next Year (2027-09-30): EPS=7.84 | Chg30d=-4.89% | Revisions=-25% | GrowthEPS=+4.3% | GrowthRev=+22.4%
[Analyst] Revisions Ratio: -50%