Stocktoria

NATIONAL FUEL GAS CO NFG

NYSE · stock · Natural Gas Distribution · website · IPO 1955-07-25 · LEI

NATIONAL FUEL GAS CO statistics & valuation

Market cap$7.5B
P / E14.4×
P / S3.3×
P / B2.4×
P / FCF39.8×
Dividend yield2.53%
Net margin22.8%
Return on equity16.8%
FCF margin8.2%
Net debt$2.6B
Net debt / EBITDA2.1×
Enterprise value USD$10.1B
EV / EBITDA7.9×
Earnings yield EBIT/EV8.1%
Return on capital10.4%
Graham number -19.4%$65.84

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($65.84); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-20.00% 17.90% 24.60% 18.00% -8.00% 20.90% 18.50% 21.10% 4.00% 22.80% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
-28.70% 37.60% 32.60% 30.20% 1.90% 36.70% 26.60% 33.50% 10.80% 35.70% 2016201720182019202020212022202320242025
Return on equity (%)
-19.10% 16.60% 20.20% 14.20% -6.30% 20.40% 27.20% 16.10% 2.70% 16.80% 2016201720182019202020212022202320242025
Shares outstanding
85.1M 86.0M 86.4M 86.8M 91.0M 91.7M 92.1M 92.3M 92.3M 91.2M 2016201720182019202020212022202320242025
Net debt ($)
$1.96B $1.83B $1.90B $2.11B $2.61B $2.60B $2.59B $2.33B $2.65B $2.64B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
-5.20% 4.60% 6.50% 4.70% -1.80% 4.90% 7.20% 5.80% 0.90% 5.90% 2016201720182019202020212022202320242025
Free cash flow margin (%)
0.50% 14.80% 2.00% -5.60% 1.60% 2.30% 0.00% 10.10% 6.90% 8.20% 2016201720182019202020212022202320242025
Debt / equity (×)
1.37× 1.40× 1.10× 1.00× 1.33× 1.47× 1.27× 0.80× 0.94× 0.87× 2016201720182019202020212022202320242025
EPS ($)
-$3.43 $3.30 $4.53 $3.51 -$1.41 $3.97 $6.15 $5.17 $0.84 $5.68 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

NATIONAL FUEL GAS CO trades at about 14.4× earnings — near its 10-year norm (10-year range 9.9×–72.1×, median 14.5×).

9.9× 72.1×

Shaded band = 10-year range (9.9×–72.1×); dot = today's 14.4×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin35.7%10.8%33.5%26.6%36.7%1.9%30.2%32.6%37.6%-28.7%
Net margin22.8%4.0%21.1%18.5%20.9%-8.0%18.0%24.6%17.9%-20.0%
FCF margin8.2%6.9%10.1%0.0%2.3%1.6%-5.6%2.0%14.8%0.5%
Return on assets5.9%0.9%5.8%7.2%4.9%-1.8%4.7%6.5%4.6%-5.2%
Return on equity16.8%2.7%16.1%27.2%20.4%-6.3%14.2%20.2%16.6%-19.1%
Debt / equity0.87×0.94×0.80×1.27×1.47×1.33×1.00×1.10×1.40×1.37×
Current ratio0.440.320.510.390.420.680.861.241.271.36

Computed from company filings · US · as of 2025-09-30. Facts plus Stocktoria's own computed scores — not investment advice.