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NFG stock logo

NFG

National Fuel Gas Company

$78.63
-1.04
 (-1.31%)
Exchange:  NYSE
Market Cap:  7.473B
Shares Outstanding:  47.053M
Delayed data
Overview
Earnings
Financials
Valuation
Chart

About The Company

Sector:  EnergyView sector performance
Industry:  Oil & Gas IntegratedView industry performance
   
CEO:  David Bauer
Full Time Employees:  2322
Address: 
6363 Main Street
Williamsville
NY
14221
US
Website:  https://www.nationalfuel.com
National Fuel Gas Company (NFG) operates as a multifaceted energy enterprise, with its business structured across four primary divisions: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production (E&P) division is dedicated to discovering, developing, and producing natural gas and oil. Its operations are concentrated in California and the Appalachian region of the United States. As of September 30, 2021, this segment reported substantial proved developed and undeveloped reserves, comprising 21,537 thousand barrels of oil and 3,723,433 million cubic feet of natural gas. NFG’s Pipeline and Storage arm manages interstate natural gas transmission and storage services. This involves an integrated pipeline network spanning Pennsylvania and New York, alongside the operation of underground natural gas storage facilities. Beyond transporting natural gas for National Fuel Gas Distribution Corporation, this segment also provides services to various other utilities, industrial companies, and power producers throughout New York State. It notably owns and operates the Empire Pipeline. The Gathering segment focuses on the construction, ownership, and operation of natural gas processing and pipeline gathering infrastructure, primarily located in the Appalachian region. It also extends gathering services to Seneca Resources Company, LLC. The Utility division supplies natural gas or offers natural gas transportation services to approximately 753,000 customers. These customers are situated in Buffalo, Niagara Falls, and Jamestown, New York, as well as Erie and Sharon, Pennsylvania. The company actively markets natural gas to a broad spectrum of clients, including industrial, wholesale, commercial, public authority, and residential customers, predominantly within western and central New York and northwestern Pennsylvania. Beyond its core energy operations, as of September 30, 2021, NFG also held significant timber assets, comprising approximately 95,000 acres of owned timber property and management rights for an additional 2,500 acres of timber. National Fuel Gas Company was established in 1902 and its corporate headquarters are situated in Williamsville, New York.

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Revenue Segmentation

Revenue by type

Revenue by region

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Industry Peers

TICKERCOMPANYMKT CAPP/EFWD P/EROIC
NFNFG logoNFGNational Fuel Gas Company7.5B11.010.97.6%
TGTGS logoTGSTransportadora de Gas del Sur S.A.3.6B10.79.79.3%
YPYPF logoYPFYPF Sociedad Anónima17.6B21.76.03.9%
ECEC logoECEcopetrol S.A.34.0B9.06.88.7%
CVCVE logoCVECenovus Energy Inc.56.7B12.77.414.3%
IMIMO logoIMOImperial Oil Limited64.9B15.411.116.1%

EPS

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Earnings Call

Full text

Earnings transcript

Read the complete earnings call transcript.

AI summary

Key takeaways

Short, structured highlights from the call so you can focus on what matters.

2026/01/29 — Q1 quarter 2026

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Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202320242025
Revenue2,173,7711,944,8102,277,541
Gross Profit847,847817,7041,506,235
EBITDA1,182,858682,9761,306,481
Operating Income755,147209,724813,459
Net Income476,86677,513518,504

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(* All numbers are in thousands)

Balance Sheet

Year202320242025
Total Assets8,280,2608,319,7708,719,104
Total Liabilities5,316,8845,471,4275,624,500
Total Stockholders Equity2,963,3762,848,3433,094,604
Total Debt2,671,9852,778,9432,833,061
Cash and Cash Equivalents55,44738,22243,166

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(* All numbers are in thousands)

Cash Flow Statement

Year202320242025
Operating Cash Flow1,237,0751,065,9611,100,027
Capital Expenditure-1,009,868-931,236-912,821
Free Cash Flow227,207134,725187,206
Net Income476,86677,513518,504
Net Change in Cash-82,271-17,2254,944

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(* All numbers are in thousands)

Analyst Estimates

Fiscal Year2028Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Low)2,718,369Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (High)3,205,000Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Avg)2,961,684.500Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Low)1,748,112.379Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (High)2,008,060.505Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Avg)1,899,146.145Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Low)610,956.779Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (High)817,266.799Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Avg)730,826Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Low)0Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (High)0Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Avg)0Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Avg)7.640Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (High)8.960Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Low)6.700Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated Revenue)2Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated EPS)1Research AccessResearch AccessResearch AccessResearch Access

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(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
1.728B  ?P/S
 (TTM)
: 
3.02
?Net Income
 (TTM)
: 
77.513M  ?P/E
 (TTM)
: 
10.97
?Enterprise Value
 (TTM)
: 
9.893B  ?EV/FCF
 (TTM)
: 
44.51
?Dividend Yield
 (TTM)
: 
2.74%  ?Payout Ratio
 (TTM)
: 
29.38%
?ROE
 (TTM)
: 
18.72%  ?ROIC
 (TTM)
: 
7.59%
?Net Debt
 (TTM)
: 
2.841B  ?Debt/Equity
 (TTM)
: 
0.91
?P/B
 (TTM)
: 
1.9  ?Current Ratio
 (TTM)
: 
3.2

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Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Research Access for high/low estimates and the interactive table.

Forward P/E 1YResearch AccessResearch AccessResearch AccessResearch Access
10.85Research AccessResearch AccessResearch AccessResearch Access

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SWOT Analysis

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At what price to buy it? -
Intrinsic Value Calculator

Based on current fundamentals and analyst forecasts, MarketSnap estimates NFG intrinsic value between $36.31 – $74.18 per share. This depends on revenue growth, margins, and discount rate.

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.


Calculate NFG Intrinsic Value

Common questions about NFG valuation

Is National Fuel Gas Company (NFG) overvalued or undervalued right now?

MarketSnap estimates intrinsic value for National Fuel Gas Company (NFG) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is NFG a buy, hold, or sell for long-term investors?

MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether NFG trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is NFG’s P/E ratio?

You can see NFG’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for NFG?

MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is NFG a good long-term investment?

Whether NFG fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

Research tools for National Fuel Gas Company

  • National Fuel Gas Company intrinsic value calculatorEstimate what the business is worth
  • National Fuel Gas Company 5-year outlookWhat has to go right, and what could go wrong
NFG

1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.

Daily snapshot

-1.31
MarketSnap

Trading Metrics:

Open: 79.25   Previous Close: 79.67
Day Low: 78.19   Day High: 79.66
Year Low: 75.03   Year High: 97.06
Price Avg 50: 80.25   Price Avg 200: 83.36
Volume: 1.077M   Average Volume: 783164

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See in Nexus

Relevant news

National Fuel Gas Company Announces Plan to Separate Its Integrated Upstream and Gathering Business
14-10-2026 06:30
National Fuel Gas Company Announces Plan to Separate Its Integrated Upstream and Gathering Business
National Fuel Evaluates Split to Strengthen Regulated Business Focus
18-09-2026 14:15
National Fuel Evaluates Split to Strengthen Regulated Business Focus
National Fuel Declares Quarterly Dividend
17-09-2026 09:45
National Fuel Declares Quarterly Dividend
National Fuel Releases its 2025 Corporate Responsibility Report
10-09-2026 13:56
National Fuel Releases its 2025 Corporate Responsibility Report
New Found Gold Files Second Quarter 2026 Financial Statements
12-08-2026 17:05
New Found Gold Files Second Quarter 2026 Financial Statements
National Fuel Gas Q3 Earnings Call Highlights
31-07-2026 18:05
National Fuel Gas Q3 Earnings Call Highlights

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