National Fuel Gas Company

National Fuel Gas Company

NFG
National Fuel Gas CompanyUS flagNew York Stock Exchange
77.45
USD
+1.01
- -
7.36BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
21.91
25.18
20.87
17.12
18.51
18.56
19.64
17.58
19.12
23.91
23.69
21.19
25.17
27.34
Basic EPS, GAAP
3.11
3.57
-4.5
-3.43
3.32
4.56
3.53
-1.41
3.99
6.19
5.2
0.84
5.73
7.48
Free Cash Flow per Basic Share
8.84
10.84
10.11
6.94
8.02
7.17
8.05
2.67
8.69
8.89
13.48
11.61
12.15
13.99
Dividend per Share
1.47
1.51
1.55
1.59
1.63
1.67
1.71
1.74
1.79
1.84
1.92
2
2.08
2.12
Book Value per Share
18.27
20.24
14.08
8.97
10.98
13.8
15.76
12.31
14.07
18.36
21.56
19.81
23.24
26.55
Tangible Book Value per Share
26.21
28.66
23.94
17.93
19.89
22.51
24.74
22.35
19.54
22.69
32.24
30.97
34.13
41.63
Basic Weighted Avg Shares
84
84
84
85
85
86
86
88
91
91
92
92
91
92
Sales/Revenue/Turnover
1,830
2,113
1,761
1,452
1,580
1,593
1,693
1,546
1,743
2,186
2,174
1,945
2,278
2,508
Operating Margin (%)
28.3
26.96
29.26
36.61
37.58
32.63
30.22
31
38.16
36.68
34.74
37.48
41.94
41.2
Depreciation Expense
327
384
336
249
224
241
276
306
335
370
410
457
457
477
Net Income, GAAP
260
299
-379
-291
283
392
304
-124
364
566
477
78
519
686
Effective Tax Rate (%)
39.92
38.77
- -
- -
36.18
- -
21.88
- -
23.98
17.08
25.65
11.16
25.29
25.51
Profit Margin (%)
14.21
14.17
-21.55
-20.03
17.94
24.58
17.97
-8
20.87
25.89
21.94
3.99
22.77
27.37
Working Capital
147
-113
-70
109
172
105
-59
-145
-714
-1,181
-392
-740
-515
-313
LT Debt
1,649
1,637
2,084
2,086
2,084
2,131
2,134
2,630
2,629
2,083
2,384
2,188
2,383
2,085
Total Equity
2,195
2,411
2,025
1,527
1,704
1,937
2,139
1,972
1,786
2,080
2,963
2,848
3,095
3,824
Return on Invested Capital (%)
8.5
8.8
- -
- -
9.9
- -
9.58
- -
11.05
14.34
10.87
11.56
12.4
12.9
Return on Capital (%)
10.32
10.83
- -
- -
11.67
- -
11.3
- -
12.16
15.97
12.75
4.34
13.32
16.39
Return on Common Equity (%)
17.83
18.57
-26.29
-29.85
33.38
36.9
23.92
-10.14
30.75
38.23
26.09
4.08
26.45
31.34

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'26
Mar'26
ST Debt
450
690
341
LT Borrowings
2,383
2,084
2,085
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
90
95
95
Market Capitalization
8,360
7,253
8,619

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'26
Mar'26
Total Current Assets
411
759
508
Cash, Cash Equivalents & STI
43
271
27
Accounts Receivable, Net
181
266
293
Inventories
90
90
72
Total Current Liabilities
926
1,174
820
Payables & Accruals
294
285
278
ST Debt
450
690
341
Deferred Revenue
47
47
28

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.75%
10.85%
8.65%
Free Cash Flow
20.35%
56.35%
3.2%
Net Income, GAAP
-21.43%
26.26%
568.93%
Sales/Revenue/Turnover
3.39%
8.83%
17.11%
Total Cash Common Dividend
3.73%
4.22%
2.52%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
525
630
417
372
1,945
2025
549
730
532
466
2,278
2026
652
858
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.45
1.81
-0.59
-1.84
0.84
2025
0.5
2.39
1.66
1.19
5.73
2026
1.99
2.61
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.49
0.5
0.5
0.52
2
2025
0.52
0.52
0.52
0.53
2.08
2026
0.53
0.53
- -
- -
- -

Company Description

APIChat
CEO
David Bauer
Full Time Employees
2,311
Sector
Energy
Industry
Oil & Gas Integrated
Address
6363 Main Street Williamsville NY United States of America 14221
IPO Date
May 3, 1973
Business
National Fuel Gas Company (NYSE: NFG), incorporated in 1902 and headquartered in Williamsville, New York, operates as a diversified energy holding company focused on natural gas across the United States, primarily in the Appalachian Basin, western New York, and northwestern Pennsylvania. The company conducts its activities through three principal segments: Integrated Upstream and Gathering, encompassing exploration, development, production, gathering, and processing of natural gas reserves; Pipeline and Storage, providing interstate transportation and storage services via over 1,600 miles of pipeline and multiple underground fields; and Utility, delivering natural gas sales and transportation to more than 750,000 retail customers through local distribution systems. Subsidiaries include Seneca Resources Company, LLC for exploration and production; National Fuel Gas Supply Corporation and Empire Pipeline, Inc. for pipeline operations; National Fuel Gas Midstream Company, LLC for gathering; and National Fuel Gas Distribution Corporation for utility services. In recent developments, National Fuel announced in fiscal 2025 the $2.62 billion acquisition of CenterPoint Energy's Ohio natural gas utility, expected to close in late 2026 and double its Utility segment rate base; filed with FERC for the Shippingport Lateral Project to add 205,000 dekatherms per day of firm transportation capacity serving a data center with approximately $15 million in annual revenue; and executed a precedent agreement for new firm transportation from Tioga County targeting late 2028 in-service. The company reported strong fiscal 2025 results with adjusted EBITDA of $1.41 billion, up from $1.19 billion in 2024, 21% production growth in the Utica region, its 55th consecutive dividend increase to $2.14 annually, and New York Public Service Commission approval for base delivery rate increases effective January 2025, the first since 2017.

Company News

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