NATIONAL FUEL GAS CO (NFG) Fundamental Analysis & Valuation

NYSE:NFG • US6361801011

Current stock price

95.29 USD
+0.61 (+0.64%)
At close:
95.34 USD
+0.05 (+0.05%)
After Hours:

This NFG fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

9

1. NFG Profitability Analysis

1.1 Basic Checks

  • NFG had positive earnings in the past year.
  • In the past year NFG had a positive cash flow from operations.
  • In the past 5 years NFG has always been profitable.
  • Each year in the past 5 years NFG had a positive operating cash flow.
NFG Yearly Net Income VS EBIT VS OCF VS FCFNFG Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M 1B

1.2 Ratios

  • With an excellent Return On Assets value of 7.12%, NFG belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 18.26%, NFG belongs to the top of the industry, outperforming 86.67% of the companies in the same industry.
  • NFG's Return On Invested Capital of 10.10% is amongst the best of the industry. NFG outperforms 86.67% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for NFG is above the industry average of 6.14%.
  • The last Return On Invested Capital (10.10%) for NFG is above the 3 year average (8.65%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 7.12%
ROE 18.26%
ROIC 10.1%
ROA(3y)4.21%
ROA(5y)4.94%
ROE(3y)11.86%
ROE(5y)16.63%
ROIC(3y)8.65%
ROIC(5y)9.07%
NFG Yearly ROA, ROE, ROICNFG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 20

1.3 Margins

  • Looking at the Profit Margin, with a value of 27.53%, NFG belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
  • In the last couple of years the Profit Margin of NFG has declined.
  • The Operating Margin of NFG (42.17%) is better than 93.33% of its industry peers.
  • NFG's Operating Margin has improved in the last couple of years.
  • With an excellent Gross Margin value of 90.18%, NFG belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
  • NFG's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 42.17%
PM (TTM) 27.53%
GM 90.18%
OM growth 3Y4.57%
OM growth 5Y6.24%
PM growth 3Y-4.2%
PM growth 5YN/A
GM growth 3Y3.36%
GM growth 5Y1.32%
NFG Yearly Profit, Operating, Gross MarginsNFG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40 60 80

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5

2. NFG Health Analysis

2.1 Basic Checks

  • NFG has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • The number of shares outstanding for NFG has been reduced compared to 1 year ago.
  • NFG has less shares outstanding than it did 5 years ago.
  • The debt/assets ratio for NFG has been reduced compared to a year ago.
NFG Yearly Shares OutstandingNFG Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M
NFG Yearly Total Debt VS Total AssetsNFG Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

2.2 Solvency

  • NFG has an Altman-Z score of 1.86. This is not the best score and indicates that NFG is in the grey zone with still only limited risk for bankruptcy at the moment.
  • With an excellent Altman-Z score value of 1.86, NFG belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
  • The Debt to FCF ratio of NFG is 13.54, which is on the high side as it means it would take NFG, 13.54 years of fcf income to pay off all of its debts.
  • NFG has a Debt to FCF ratio of 13.54. This is amongst the best in the industry. NFG outperforms 93.33% of its industry peers.
  • NFG has a Debt/Equity ratio of 0.61. This is a neutral value indicating NFG is somewhat dependend on debt financing.
  • The Debt to Equity ratio of NFG (0.61) is better than 100.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 13.54
Altman-Z 1.86
ROIC/WACC1.26
WACC8.03%
NFG Yearly LT Debt VS Equity VS FCFNFG Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B 2B 3B

2.3 Liquidity

  • NFG has a Current Ratio of 0.65. This is a bad value and indicates that NFG is not financially healthy enough and could expect problems in meeting its short term obligations.
  • NFG's Current ratio of 0.65 is on the low side compared to the rest of the industry. NFG is outperformed by 60.00% of its industry peers.
  • A Quick Ratio of 0.59 indicates that NFG may have some problems paying its short term obligations.
  • NFG's Quick ratio of 0.59 is fine compared to the rest of the industry. NFG outperforms 66.67% of its industry peers.
Industry RankSector Rank
Current Ratio 0.65
Quick Ratio 0.59
NFG Yearly Current Assets VS Current LiabilitesNFG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

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6

3. NFG Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 40.31% over the past year.
  • The Earnings Per Share has been growing by 18.56% on average over the past years. This is quite good.
  • The Revenue has grown by 20.86% in the past year. This is a very strong growth!
  • NFG shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.05% yearly.
EPS 1Y (TTM)40.31%
EPS 3Y5.47%
EPS 5Y18.56%
EPS Q2Q%24.1%
Revenue 1Y (TTM)20.86%
Revenue growth 3Y1.38%
Revenue growth 5Y8.05%
Sales Q2Q%18.57%

3.2 Future

  • The Earnings Per Share is expected to grow by 1.62% on average over the next years.
  • The Revenue is expected to grow by 9.13% on average over the next years. This is quite good.
EPS Next Y13.13%
EPS Next 2Y11.07%
EPS Next 3Y1.62%
EPS Next 5YN/A
Revenue Next Year11.52%
Revenue Next 2Y17.48%
Revenue Next 3Y9.13%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
NFG Yearly Revenue VS EstimatesNFG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1B 2B 3B
NFG Yearly EPS VS EstimatesNFG Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2 4 6 8

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6

4. NFG Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 13.04, the valuation of NFG can be described as correct.
  • Compared to the rest of the industry, the Price/Earnings ratio of NFG indicates a somewhat cheap valuation: NFG is cheaper than 73.33% of the companies listed in the same industry.
  • NFG is valuated rather cheaply when we compare the Price/Earnings ratio to 24.89, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 11.18, which indicates a very decent valuation of NFG.
  • 80.00% of the companies in the same industry are more expensive than NFG, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.19, NFG is valued a bit cheaper.
Industry RankSector Rank
PE 13.04
Fwd PE 11.18
NFG Price Earnings VS Forward Price EarningsNFG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, NFG is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of NFG indicates a somewhat cheap valuation: NFG is cheaper than 66.67% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 44.21
EV/EBITDA 7.79
NFG Per share dataNFG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • NFG's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The excellent profitability rating of NFG may justify a higher PE ratio.
PEG (NY)0.99
PEG (5Y)0.7
EPS Next 2Y11.07%
EPS Next 3Y1.62%

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5

5. NFG Dividend Analysis

5.1 Amount

  • NFG has a Yearly Dividend Yield of 2.26%.
  • Compared to an average industry Dividend Yield of 3.67, NFG's dividend is way lower than its industry peers. On top of this 80.00% of the companies listed in the same industry pay a better dividend than NFG!
  • NFG's Dividend Yield is comparable with the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 2.26%

5.2 History

  • The dividend of NFG has a limited annual growth rate of 3.74%.
  • NFG has paid a dividend for at least 10 years, which is a reliable track record.
  • NFG has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)3.74%
Div Incr Years34
Div Non Decr Years34
NFG Yearly Dividends per shareNFG Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2

5.3 Sustainability

  • NFG pays out 28.99% of its income as dividend. This is a sustainable payout ratio.
  • The dividend of NFG is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP28.99%
EPS Next 2Y11.07%
EPS Next 3Y1.62%
NFG Yearly Income VS Free CF VS DividendNFG Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M -200M 400M
NFG Dividend Payout.NFG Dividend Payout, showing the Payout Ratio.NFG Dividend Payout.PayoutRetained Earnings

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NFG Fundamentals: All Metrics, Ratios and Statistics

NATIONAL FUEL GAS CO

NYSE:NFG (3/27/2026, 8:04:00 PM)

After market: 95.34 +0.05 (+0.05%)

95.29

+0.61 (+0.64%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryGas Utilities
Earnings (Last)01-28
Earnings (Next)04-28
Inst Owners81.02%
Inst Owner Change6.86%
Ins Owners0.83%
Ins Owner Change1.74%
Market Cap9.06B
Revenue(TTM)2.38B
Net Income(TTM)655.16M
Analysts77.78
Price Target102 (7.04%)
Short Float %3.64%
Short Ratio4.3
Dividend
Industry RankSector Rank
Dividend Yield 2.26%
Yearly Dividend2.08
Dividend Growth(5Y)3.74%
DP28.99%
Div Incr Years34
Div Non Decr Years34
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)5.82%
Min EPS beat(2)3.22%
Max EPS beat(2)8.43%
EPS beat(4)4
Avg EPS beat(4)6.78%
Min EPS beat(4)3.22%
Max EPS beat(4)8.43%
EPS beat(8)7
Avg EPS beat(8)5.67%
EPS beat(12)9
Avg EPS beat(12)4.53%
EPS beat(16)12
Avg EPS beat(16)3.78%
Revenue beat(2)0
Avg Revenue beat(2)-6.92%
Min Revenue beat(2)-12%
Max Revenue beat(2)-1.84%
Revenue beat(4)0
Avg Revenue beat(4)-8.17%
Min Revenue beat(4)-12.14%
Max Revenue beat(4)-1.84%
Revenue beat(8)0
Avg Revenue beat(8)-14.5%
Revenue beat(12)1
Avg Revenue beat(12)-14.41%
Revenue beat(16)3
Avg Revenue beat(16)-10.84%
PT rev (1m)0%
PT rev (3m)-1.32%
EPS NQ rev (1m)2.99%
EPS NQ rev (3m)-4.76%
EPS NY rev (1m)2.97%
EPS NY rev (3m)-7.27%
Revenue NQ rev (1m)4.01%
Revenue NQ rev (3m)2.49%
Revenue NY rev (1m)1.82%
Revenue NY rev (3m)-0.68%
Valuation
Industry RankSector Rank
PE 13.04
Fwd PE 11.18
P/S 3.81
P/FCF 44.21
P/OCF 7.84
P/B 2.52
P/tB 2.53
EV/EBITDA 7.79
EPS(TTM)7.31
EY7.67%
EPS(NY)8.52
Fwd EY8.95%
FCF(TTM)2.16
FCFY2.26%
OCF(TTM)12.15
OCFY12.75%
SpS25.04
BVpS37.76
TBVpS37.7
PEG (NY)0.99
PEG (5Y)0.7
Graham Number78.8
Profitability
Industry RankSector Rank
ROA 7.12%
ROE 18.26%
ROCE 12.49%
ROIC 10.1%
ROICexc 10.45%
ROICexgc 10.46%
OM 42.17%
PM (TTM) 27.53%
GM 90.18%
FCFM 8.61%
ROA(3y)4.21%
ROA(5y)4.94%
ROE(3y)11.86%
ROE(5y)16.63%
ROIC(3y)8.65%
ROIC(5y)9.07%
ROICexc(3y)8.7%
ROICexc(5y)9.13%
ROICexgc(3y)8.7%
ROICexgc(5y)9.13%
ROCE(3y)10.82%
ROCE(5y)11.32%
ROICexgc growth 3Y-3.46%
ROICexgc growth 5Y10.44%
ROICexc growth 3Y-3.45%
ROICexc growth 5Y10.45%
OM growth 3Y4.57%
OM growth 5Y6.24%
PM growth 3Y-4.2%
PM growth 5YN/A
GM growth 3Y3.36%
GM growth 5Y1.32%
F-Score7
Asset Turnover0.26
Health
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 13.54
Debt/EBITDA 1.48
Cap/Depr 202.46%
Cap/Sales 39.92%
Interest Coverage 250
Cash Conversion 78.42%
Profit Quality 31.26%
Current Ratio 0.65
Quick Ratio 0.59
Altman-Z 1.86
F-Score7
WACC8.03%
ROIC/WACC1.26
Cap/Depr(3y)216.75%
Cap/Depr(5y)218.79%
Cap/Sales(3y)44.81%
Cap/Sales(5y)42.94%
Profit Quality(3y)85.85%
Profit Quality(5y)53.73%
High Growth Momentum
Growth
EPS 1Y (TTM)40.31%
EPS 3Y5.47%
EPS 5Y18.56%
EPS Q2Q%24.1%
EPS Next Y13.13%
EPS Next 2Y11.07%
EPS Next 3Y1.62%
EPS Next 5YN/A
Revenue 1Y (TTM)20.86%
Revenue growth 3Y1.38%
Revenue growth 5Y8.05%
Sales Q2Q%18.57%
Revenue Next Year11.52%
Revenue Next 2Y17.48%
Revenue Next 3Y9.13%
Revenue Next 5YN/A
EBIT growth 1Y33.83%
EBIT growth 3Y6.01%
EBIT growth 5Y14.79%
EBIT Next Year77.41%
EBIT Next 3Y25.1%
EBIT Next 5YN/A
FCF growth 1Y30.13%
FCF growth 3Y544.28%
FCF growth 5Y50.06%
OCF growth 1Y-2.19%
OCF growth 3Y10.63%
OCF growth 5Y8.23%

NATIONAL FUEL GAS CO / NFG Fundamental Analysis FAQ

What is the ChartMill fundamental rating of NATIONAL FUEL GAS CO (NFG) stock?

ChartMill assigns a fundamental rating of 7 / 10 to NFG.


What is the valuation status for NFG stock?

ChartMill assigns a valuation rating of 6 / 10 to NATIONAL FUEL GAS CO (NFG). This can be considered as Fairly Valued.


What is the profitability of NFG stock?

NATIONAL FUEL GAS CO (NFG) has a profitability rating of 9 / 10.


What is the valuation of NATIONAL FUEL GAS CO based on its PE and PB ratios?

The Price/Earnings (PE) ratio for NATIONAL FUEL GAS CO (NFG) is 13.04 and the Price/Book (PB) ratio is 2.52.


Can you provide the financial health for NFG stock?

The financial health rating of NATIONAL FUEL GAS CO (NFG) is 5 / 10.