NFG · National Fuel Gas Co - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $2.28B | $1.94B | $3.06B | $2.19B | $1.74B | $1.55B |
| Cost of Revenue | $213.44M | $150.06M | $437.60M | $392.09M | $171.83M | $233.89M |
| Gross Profit | $2.06B | $1.79B | $2.62B | $1.79B | $1.57B | $1.31B |
| R&D | - | - | - | - | - | - |
| SG&A | $70.93M | - | - | - | - | - |
| Total Operating Expenses | $1.46B | $1.74B | $1.42B | $1.38B | $1.15B | $1.52B |
| D&A | $456.59M | $457.03M | $409.57M | $369.79M | $335.30M | $306.16M |
| Operating Income | $813.46M | $209.72M | $755.15M | $814.52M | $639.92M | $29.86M |
| Interest Expense | $140.87M | $138.69M | $131.89M | $130.36M | $146.36M | $117.08M |
| Income Tax | $175.55M | $9.74M | $164.53M | $116.63M | $114.68M | $18.74M |
| Net Income | $518.50M | $77.51M | $476.87M | $566.02M | $363.65M | ($123.77M) |
| EPS - Basic | $5.73 | $0.84 | $5.20 | $6.19 | $3.99 | ($1.41) |
| EPS - Diluted | $5.68 | $0.84 | $5.17 | $6.15 | $3.97 | ($1.41) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $43.17M | $38.22M | $55.45M | $46.05M | $31.53M | $20.54M |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $184.05M | $165.07M | $152.19M | $178.94M | $171.66M | $134.13M |
| Current Assets | $410.73M | $355.92M | $414.43M | $761.13M | $522.45M | $314.20M |
| Total Assets | $8.72B | $8.32B | $8.28B | $7.90B | $7.46B | $6.96B |
| Current Liabilities | $925.76M | $1.10B | $806.31M | $1.94B | $1.24B | $459.57M |
| Long-term Debt | $2.38B | $2.19B | $2.38B | $2.08B | $2.63B | $2.63B |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $3.09B | ($15.48M) | $2.96B | $2.08B | $1.79B | $1.97B |
| Retained Earnings | $2.01B | $1.73B | $1.89B | $1.59B | $1.19B | $991.63M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.10B | $1.07B | $1.24B | $812.52M | $791.55M | $740.81M |
| Investing Cash Flow | ($891.70M) | ($933.90M) | ($1.11B) | ($518.70M) | ($633.22M) | ($1.22B) |
| Financing Cash Flow | ($203.38M) | ($149.28M) | ($207.00M) | ($276.24M) | ($58.74M) | $476.09M |
| CapEx | $912.82M | $931.24M | $1.01B | $811.83M | $751.73M | $716.15M |
| Free Cash Flow | $187.21M | $134.72M | $227.21M | $695.0K | $39.82M | $24.66M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 90.6% | 92.3% | 85.7% | 82.1% | 90.1% | 84.9% |
| Operating margin | 35.7% | 10.8% | 24.7% | 37.3% | 36.7% | 1.9% |
| EBITDA margin | 55.8% | 34.3% | 38.0% | 54.2% | 56.0% | 21.7% |
| Net margin | 22.8% | 4.0% | 15.6% | 25.9% | 20.9% | -8.0% |
| Free cash flow margin | 8.2% | 6.9% | 7.4% | 0.0% | 2.3% | 1.6% |
| FCF / Net income | 0.36 | 1.74 | 0.48 | 0.00 | 0.11 | -0.20 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 3.1% | - | - | - | - | - |
| Effective tax rate | 25.3% | 11.2% | 25.7% | 17.1% | 24.0% | - |
| Return on assets | 5.9% | 0.9% | 5.8% | 7.2% | 4.9% | -1.8% |
| Return on equity | 16.8% | -500.9% | 16.1% | 27.2% | 20.4% | -6.3% |
| Return on invested capital | 11.1% | 8.6% | 10.5% | 16.2% | 11.0% | 0.5% |
| Liquidity | ||||||
| Current ratio | 0.44 | 0.32 | 0.51 | 0.39 | 0.42 | 0.68 |
| Quick ratio | 0.44 | 0.32 | 0.51 | 0.39 | 0.42 | 0.68 |
| Cash ratio | 0.05 | 0.03 | 0.07 | 0.02 | 0.03 | 0.04 |
| Leverage | ||||||
| Debt / Equity | 0.77 | -141.40 | 0.80 | 1.00 | 1.47 | 1.33 |
| Debt / Assets | 0.27 | 0.26 | 0.29 | 0.26 | 0.35 | 0.38 |
| Debt / EBITDA | 1.88 | 3.28 | 2.05 | 1.76 | 2.70 | 7.83 |
| Interest coverage | 5.8x | 1.5x | 5.7x | 6.2x | 4.4x | 0.3x |
| Equity multiplier | 2.82 | -537.59 | 2.79 | 3.80 | 4.18 | 3.53 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.26 | 0.23 | 0.37 | 0.28 | 0.23 | 0.22 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 315d | 401d | 127d | 167d | 365d | 209d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 16.3x | 72.2x | 10.0x | 10.0x | 13.2x | - |
| P / B | 2.7x | - | 1.6x | 2.7x | 2.7x | 1.8x |
| P / S | 3.7x | 2.9x | 1.6x | 2.6x | 2.8x | 2.3x |
| EV / EBITDA | 8.5x | 11.6x | 6.1x | 6.5x | 7.6x | 18.4x |
| Growth | ||||||
| Revenue growth (YoY) | 17.1% | -36.5% | 40.0% | 25.4% | 12.7% | -8.7% |
| Revenue CAGR (3y) | 1.4% | 3.7% | 25.6% | 8.9% | 6.3% | - |
| Revenue CAGR (5y) | 8.1% | 2.8% | 16.1% | - | - | - |
| Gross profit growth (YoY) | 15.0% | -31.6% | 46.3% | 14.2% | 19.7% | - |
| Operating income growth (YoY) | 287.9% | -72.2% | -7.3% | 27.3% | 2043.2% | -94.2% |
| Net income growth (YoY) | 568.9% | -83.7% | -15.8% | 55.7% | - | - |
| EPS growth (YoY) | 576.2% | -83.8% | -15.9% | 54.9% | - | - |
| EPS CAGR (3y) | -2.6% | -40.4% | - | 20.6% | -4.3% | - |
| EPS CAGR (5y) | - | -24.9% | 2.7% | 13.3% | - | - |
| FCF growth (YoY) | 39.0% | -40.7% | 32591.7% | -98.3% | 61.5% | - |
| FCF CAGR (5y) | 50.0% | - | 114.7% | -72.0% | -34.4% | - |
| Book value growth (YoY) | - | - | 42.5% | 16.4% | -9.4% | -7.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-09-30.
Business segments
$6.71B totalTotal Reportable Segments$2.43B · 36.2%
Integrated Upstream And Gathering And Other$1.18B · 17.7%
Integrated Upstream And Gathering$1.18B · 17.7%
Utility$817.63M · 12.2%
Total Utility$817.27M · 12.2%
Pipeline And Storage$276.13M · 4.1%
Product / service
$2.25B totalNatural Gas Production$1.10B · 49.1%
Natural Gas Residential Sales$596.99M · 26.6%
Oil And Gas Service$324.18M · 14.4%
Natural Gas Storage$100.29M · 4.5%
Natural Gas Commercial Sales$84.52M · 3.8%
Product And Service Other$18.05M · 0.8%
Natural Gas Midstream$11.81M · 0.5%
Natural Gas Industrial Sales$4.40M · 0.2%
Productionof Crude Oil$1.84M · 0.1%
Natural Gas Processing$1.20M · 0.1%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
7/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Natural Gas Distribution
Comparing NATIONAL FUEL GAS CO against the 5 most active filers in the same SIC group.
Dividends
$2.14/share trailing 12 months · +3.9% YoY
| Ex-date | Per share |
|---|---|
| Mar 31, 2026 | $0.5350 |
| Dec 31, 2025 | $0.5350 |
| Sep 30, 2025 | $0.5350 |
| Jun 30, 2025 | $0.5350 |
| Mar 31, 2025 | $0.5150 |
| Dec 31, 2024 | $0.5150 |
| Sep 30, 2024 | $0.5150 |
| Jun 28, 2024 | $0.5150 |
| Mar 27, 2024 | $0.4950 |
| Dec 28, 2023 | $0.4950 |
| Sep 28, 2023 | $0.4950 |
| Jun 29, 2023 | $0.4950 |
| Mar 30, 2023 | $0.4750 |
| Dec 29, 2022 | $0.4750 |
| Sep 29, 2022 | $0.4750 |
| Jun 29, 2022 | $0.4750 |
| Mar 30, 2022 | $0.4550 |
| Dec 30, 2021 | $0.4550 |
| Sep 29, 2021 | $0.4550 |
| Jun 29, 2021 | $0.4550 |
| Mar 30, 2021 | $0.4450 |
| Dec 30, 2020 | $0.4450 |
| Sep 29, 2020 | $0.4450 |
| Jun 29, 2020 | $0.4450 |