NATIONAL FUEL GAS CO
NATIONAL FUEL GAS CO
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets | |||||||||||||||||
Property Plant And Equipment Gross | 15,833 | 15,616 | 15,406 | 15,045 | 14,835 | 14,675 | 14,525 | 14,246 | 14,056 | 13,857 | 13,635 | 13,327 | |||||
Accumulated Depreciation Depletion And Amortizatio… | 7,903 | 7,800 | 7,694 | 7,589 | 7,488 | 7,393 | 7,186 | 6,835 | 6,549 | 6,435 | 6,335 | 6,246 | |||||
Property Plant And Equipment Net | 7,930 | 7,816 | 7,713 | 7,456 | 7,347 | 7,282 | 7,339 | 7,411 | 7,508 | 7,422 | 7,300 | 7,081 | |||||
Assets Current | |||||||||||||||||
Cash And Cash Equivalents At Carrying Value | 27 | 271 | 43 | 39 | 40 | 49 | 38 | 81 | 51 | 42 | 55 | 53 | |||||
Margin Deposit Assets | - | - | - | - | - | - | 0 | - | - | - | 0 | 0 | |||||
Assets Held In Trust Current | - | - | - | - | 51 | - | - | - | 0 | - | - | - | |||||
Accounts And Other Receivables Net Current | 293 | 266 | 181 | 223 | 291 | 203 | 127 | 157 | 181 | 190 | 161 | 183 | |||||
Unbilled Receivables Current | 53 | 70 | 16 | 15 | 49 | 57 | 16 | 15 | 47 | 48 | 17 | 13 | |||||
Energy Related Inventory Gas Stored Underground | 5 | 19 | 33 | 13 | 6 | 25 | 35 | 14 | 9 | 27 | 33 | 13 | |||||
Inventory Raw Materials And Supplies | 54 | 50 | 51 | 51 | 48 | 48 | 48 | 48 | 47 | 48 | 49 | 48 | |||||
Unrecovered Costs For Purchased Gas Amount | 13 | 21 | 6 | 3 | 4 | - | 0 | - | - | - | 0 | 24 | |||||
Other Assets Current | 64 | 62 | 81 | 64 | 79 | 83 | 92 | 83 | 85 | 99 | 100 | 72 | |||||
Assets Current | 508 | 759 | 411 | 408 | 568 | 465 | 356 | 399 | 419 | 454 | 414 | 407 | |||||
Assets Noncurrent | |||||||||||||||||
Unamortized Loss Reacquired Debt Noncurrent | 5 | 6 | 6 | 7 | 7 | 5 | 6 | 6 | 6 | 7 | 7 | 8 | |||||
Regulatory Assets Noncurrent | - | - | - | 124 | 119 | 106 | - | 74 | 70 | 72 | - | 63 | |||||
Deferred Costs | 81 | 76 | 74 | 71 | 70 | 69 | 70 | 90 | 89 | 80 | 82 | 78 | |||||
Other Investments | 66 | 69 | 68 | 74 | 72 | 71 | 82 | 80 | 79 | 77 | 74 | 75 | |||||
Goodwill | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | |||||
Defined Benefit Plan Assets For Plan Benefits Nonc… | 183 | 172 | 169 | 199 | 194 | 185 | 180 | 231 | 223 | 208 | 200 | 234 | |||||
Derivative Instruments And Hedges Noncurrent | 116 | 69 | 39 | 2 | 0 | 21 | 88 | 100 | 196 | 185 | 50 | 46 | |||||
Other Assets Noncurrent | 10 | 8 | 8 | 8 | 8 | 8 | 6 | 5 | 5 | 5 | 5 | 4 | |||||
Assets | 9,128 | 9,206 | 8,719 | 8,446 | 8,480 | 8,301 | 8,320 | 8,481 | 8,677 | 8,587 | 8,280 | 8,107 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Stockholders Equity Inclu… | |||||||||||||||||
Equity | |||||||||||||||||
Common Stock Value | 95 | 95 | 90 | 90 | 90 | 91 | 91 | 92 | 92 | 92 | 92 | 92 | |||||
Additional Paid In Capital | 1,388 | 1,383 | 1,051 | 1,047 | 1,043 | 1,040 | 1,045 | 1,046 | 1,046 | 1,041 | 1,041 | 1,036 | |||||
Retained Earnings Accumulated Deficit | 2,340 | 2,143 | 2,013 | 1,954 | 1,855 | 1,699 | 1,727 | 1,970 | 2,090 | 1,973 | 1,886 | 1,858 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | 1 | -33 | -59 | -116 | -223 | -76 | -15 | 5 | 75 | 67 | -55 | -49 | |||||
Stockholders Equity | 3,824 | 3,588 | 3,095 | 2,975 | 2,766 | 2,753 | 2,848 | 3,114 | 3,303 | 3,174 | 2,963 | 2,936 | |||||
Long Term Debt Noncurrent | 2,085 | 2,084 | 2,383 | 2,382 | 2,381 | 2,189 | 2,188 | 2,637 | 2,387 | 2,386 | 2,384 | 2,384 | |||||
Capitalization Longterm Debt And Equity | 5,909 | 5,672 | 5,477 | 5,357 | 5,147 | 4,942 | 5,037 | 5,751 | 5,690 | 5,560 | 5,348 | 5,320 | |||||
Liabilities | |||||||||||||||||
Liabilities Current | |||||||||||||||||
Short Term Borrowings | 41 | 90 | 150 | 62 | 208 | 200 | 91 | 0 | 279 | 300 | 288 | 139 | |||||
Long Term Debt Current | 300 | 600 | 300 | 300 | 350 | 500 | 500 | 50 | - | - | 0 | 0 | |||||
Accounts Payable Current | 143 | 142 | 184 | 123 | 128 | 121 | 165 | 101 | 94 | 105 | 152 | 92 | |||||
Refundable Gas Costs | 0 | 0 | 1 | 24 | 34 | 43 | 43 | 63 | 72 | 60 | 59 | 22 | |||||
Dividends Payable Current | 51 | 51 | 48 | 48 | 47 | 47 | 47 | 47 | 46 | 46 | 45 | 45 | |||||
Security Deposit Liability | 28 | 30 | 30 | 29 | 30 | 36 | 36 | 37 | 31 | 31 | 29 | 34 | |||||
Accrued Liabilities Current | 243 | 209 | 175 | 207 | 185 | 172 | 163 | 169 | 184 | 200 | 161 | 261 | |||||
Derivative Instruments And Hedges Liabilities | 0 | 0 | 6 | 58 | 201 | 21 | 5 | 3 | 0 | 0 | 31 | 33 | |||||
Liabilities Current | 820 | 1,174 | 926 | 890 | 1,203 | 1,199 | 1,096 | 517 | 728 | 807 | 806 | 666 | |||||
Liabilities Noncurrent | |||||||||||||||||
Deferred Income Tax Liabilities Net | 1,326 | 1,274 | 1,225 | 1,153 | 1,072 | 1,089 | 1,111 | 1,172 | 1,200 | 1,165 | 1,124 | 1,031 | |||||
Regulatory Liability Noncurrent | - | - | - | 137 | 141 | 148 | - | 164 | 165 | 166 | - | 191 | |||||
Pension And Other Postretirement And Postemploymen… | - | - | 5 | - | - | - | 4 | - | - | - | 3 | - | |||||
Postemployment Benefits Liability Noncurrent | 4 | 4 | - | 3 | 3 | 3 | - | 3 | 3 | 3 | - | 3 | |||||
Asset Retirement Obligations Noncurrent | 228 | 234 | 237 | 188 | 194 | 199 | 203 | 158 | 161 | 165 | 165 | 160 | |||||
Other Liabilities Noncurrent | 106 | 111 | 113 | 116 | 117 | 120 | 120 | 125 | 125 | 120 | 122 | 117 | |||||
Liabilities Noncurrent | 2,398 | 2,360 | 2,316 | 2,199 | 2,130 | 2,160 | 2,187 | 2,214 | 2,259 | 2,221 | 2,126 | 2,121 | |||||
Commitments And Contingencies | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Liabilities And Stockholders Equity | 9,128 | 9,206 | 8,719 | 8,446 | 8,480 | 8,301 | 8,320 | 8,481 | 8,677 | 8,587 | 8,280 | 8,107 | |||||
Allowance For Doubtful Accounts Receivable Current | 24 | 18 | 17 | 24 | 23 | 28 | 26 | 33 | 40 | 37 | 36 | 43 | |||||
Common Stock Par Or Stated Value Per Share | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |||||
Common Stock Shares Authorized | 200 | 200 | 200 | 200 | 200 | 200 | 200 | 200 | 200 | 200 | 200 | 200 | |||||
Common Stock Shares Issued | 95 | 95 | 90 | 90 | 90 | 91 | 91 | 92 | 92 | 92 | 92 | 92 | |||||
Shares Outstanding | 95 | 95 | 90 | 90 | 90 | 91 | 91 | 92 | 92 | 92 | 92 | 92 | |||||
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Interactive Financial Visualizations
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.99% | 9.17% | 4.77% | -4.10% | -10.06% | -3.39% | - | - | - | - | - | - |
| 2025 | 3.36% | 11.16% | 13.01% | 4.07% | 8.19% | 13.30% | 0.50% | -0.35% | -0.68% | 2.65% | -1.55% | 7.75% |
| 2024 | -0.04% | 11.18% | 11.41% | 1.19% | -0.24% | 5.93% | -0.44% | 1.88% | 7.40% | -4.45% | -1.75% | 12.91% |
| 2023 | - | - | - | -2.83% | -5.85% | -0.47% | -1.01% | -2.34% | 0.72% | -0.88% | -0.17% | -7.63% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 0.62 | 0.65 | 0.44 | 0.46 | 0.47 | 0.39 | 0.32 | 0.77 | 0.58 | 0.56 | 0.51 | 0.61 | |||||
| Quick Ratio | 0.62 | 0.65 | 0.44 | 0.46 | 0.47 | 0.39 | 0.32 | 0.77 | 0.58 | 0.56 | 0.51 | 0.61 | |||||
| Working Capital | -312.55M | -415.37M | -515.04M | -481.74M | -634.69M | -734.70M | -739.97M | -117.91M | -308.92M | -353.64M | -391.88M | -258.41M | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 0.84 | 0.98 | 1.05 | 1.04 | 1.21 | 1.22 | 1.15 | 0.88 | 0.90 | 0.95 | 0.99 | 0.95 | |||||
| Interest Coverage TTM | 7.86 | 7.12 | 5.77 | 3.11 | 1.12 | 0.70 | 1.71 | 3.03 | 4.37 | 4.21 | 4.46 | 7.10 | |||||
| Debt Ratio | 0.35 | 0.38 | 0.37 | 0.37 | 0.39 | 0.40 | 0.39 | 0.32 | 0.34 | 0.35 | 0.35 | 0.34 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.28 | 0.27 | 0.27 | 0.26 | 0.24 | 0.23 | 0.23 | 0.23 | 0.23 | 0.24 | 0.27 | 0.28 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 7.17 | 7.12 | 5.68 | 2.67 | 0.43 | -0.12 | 0.84 | 3.47 | 5.03 | 4.76 | 5.17 | 6.08 | |||||
| Free Cash Flow Per Share TTM | 3.23 | 2.25 | 2.07 | 2.06 | 0.77 | 1.00 | 1.47 | 0.91 | 1.27 | 1.71 | 2.48 | 2.90 | |||||
| Dividend Per Share TTM | 2.04 | 2.08 | 2.08 | 2.07 | 2.06 | 2.04 | 2.00 | 1.98 | 1.96 | 1.94 | 1.92 | 1.90 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 87.79% | 90.18% | 90.63% | 90.32% | 90.90% | 91.93% | 92.28% | 92.04% | 90.52% | 84.17% | 79.87% | 78.87% | |||||
| Operating Profit Margin TTM | 41.20% | 42.17% | 35.72% | 20.02% | 7.51% | 4.51% | 10.78% | 27.38% | 37.74% | 34.70% | 34.74% | 36.06% | |||||
| Net Profit Margin TTM | 27.37% | 27.53% | 22.77% | 11.15% | 1.91% | -0.53% | 3.99% | 16.42% | 23.84% | 21.58% | 21.94% | 25.06% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 21.22% | 20.86% | 17.11% | 12.44% | 5.94% | -3.50% | -10.53% | -13.32% | -15.60% | -11.23% | -0.56% | 6.32% | |||||
| Net Income Growth (1Y) | 1,635.05% | -6,327.19% | 568.93% | -23.61% | -91.50% | -102.39% | -83.75% | -43.20% | -19.29% | -27.04% | -15.75% | 13.44% | |||||
| EPS Growth (1Y) | 1,552.41% | -6,300.26% | 578.46% | -22.33% | -91.35% | -102.42% | -83.75% | -43.25% | -19.57% | -27.30% | -16.06% | 13.01% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 12.91 | 11.00 | 15.81 | 30.65 | 175.53 | -504.04 | 68.52 | 14.78 | 9.96 | 9.73 | 9.18 | 7.65 | |||||
| P/B TTM | 2.32 | 2.01 | 2.65 | 2.51 | 2.51 | 1.93 | 1.86 | 1.51 | 1.40 | 1.35 | 1.48 | 1.46 | |||||
| P/S TTM | 3.53 | 3.03 | 3.60 | 3.42 | 3.36 | 2.69 | 2.73 | 2.43 | 2.38 | 2.10 | 2.01 | 1.92 | |||||
| Market Cap | 8.87B | 7.21B | 8.20B | 7.46B | 6.94B | 5.30B | 5.31B | 4.71B | 4.64B | 4.28B | 4.38B | 4.29B | |||||
| Enterprise Value | 11.27B | 9.71B | 10.99B | 10.17B | 9.79B | 8.14B | 8.05B | 7.32B | 7.25B | 6.93B | 7.00B | 6.76B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 306.61M | 204.84M | 187.21M | 185.87M | 70.03M | 90.38M | 134.73M | 83.65M | 116.66M | 157.35M | 227.21M | 266.54M | |||||
| Net Debt | 2.40B | 2.50B | 2.79B | 2.70B | 2.85B | 2.84B | 2.74B | 2.61B | 2.61B | 2.64B | 2.62B | 2.47B | |||||
Per-Share and Margin | |||||||||||||||||
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| Adjusted EPS TTM | |||||||||||||||||
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Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
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| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
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| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
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| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
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| Net Income Growth (3Y) | |||||||||||||||||
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| Net Profit Margin Growth (5Y) | |||||||||||||||||
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| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
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| Net Debt to Equity | |||||||||||||||||
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| Treasury Stock Change (1Y) | |||||||||||||||||
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Valuation Ratios | |||||||||||||||||
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Insider Transactions
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Institutional Ownership
NATIONAL FUEL GAS CO (NFG) — SEC Financial Statements & Analysis
NATIONAL FUEL GAS CO (NFG) is a natural gas distribution company, incorporated in NJ. NATIONAL FUEL GAS CO trades on NYSE as: NFG. Based on its latest SEC filing (Form 10-Q, period ending 2026-03-31), NATIONAL FUEL GAS CO reported a 21.22% year-over-year revenue growth, a Gross Profit Margin of 87.79% (TTM), a Debt-to-Equity ratio of 0.84x, a Price-to-Sales (P/S) ratio of 3.53x (TTM), a Price-to-Book (P/B) ratio of 2.32 (TTM), at a market cap of $8.87B. Figures below are sourced from SEC EDGAR, as-filed.
- Net Revenue TTM Growth 1Y
- 21.22%
- Gross Profit Margin TTM
- 87.79%
- Debt To Equity
- 0.84x
- P/S TTM
- 3.53x
- P/B TTM
- 2.32
- Market Cap
- $8.87B
Data as of 2026-03-31 · Source: SEC EDGAR
Frequently Asked Questions
What industry is NATIONAL FUEL GAS CO in?
NATIONAL FUEL GAS CO (NFG) operates in the Natural Gas Distribution industry.
What is NFG's market cap?
NATIONAL FUEL GAS CO (NFG) has a market capitalization of $8.87B as of 2026-03-31.
What is NFG's P/E ratio?
NATIONAL FUEL GAS CO (NFG)'s trailing twelve month P/E ratio is 12.91x as of 2026-03-31.
What exchange does NFG trade on?
NATIONAL FUEL GAS CO (NFG) trades on the NYSE.
Where is NATIONAL FUEL GAS CO incorporated?
NATIONAL FUEL GAS CO is incorporated in NJ.