NATIONAL FUEL GAS CO (NFG) Fundamental Analysis & Valuation

NYSE:NFG • US6361801011

Current stock price

82.98 USD
-1.4 (-1.66%)
At close:
82.98 USD
0 (0%)
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

  • NFG has a Return On Assets of 7.12%. This is amongst the best in the industry. NFG outperforms 100.00% of its industry peers.
  • NFG has a Return On Equity of 18.26%. This is amongst the best in the industry. NFG outperforms 86.67% of its industry peers.
  • The Return On Invested Capital of NFG (10.10%) is better than 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 6.19%.
  • The 3 year average ROIC (8.65%) for NFG is below the current ROIC(10.10%), indicating increased profibility in the last year.
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

  • NFG's Profit Margin of 27.53% is amongst the best of the industry. NFG outperforms 100.00% of its industry peers.
  • NFG's Profit Margin has declined in the last couple of years.
  • NFG has a better Operating Margin (42.17%) than 93.33% of its industry peers.
  • NFG's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 90.18%, 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 Gross Margin of NFG has remained more or less at the same level.
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

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), NFG is creating some value.
  • The number of shares outstanding for NFG has been reduced compared to 1 year ago.
  • The number of shares outstanding for NFG has been reduced compared to 5 years ago.
  • NFG has a better debt/assets ratio than last year.
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

  • Based on the Altman-Z score of 1.75, we must say that NFG is in the distress zone and has some risk of bankruptcy.
  • NFG's Altman-Z score of 1.75 is amongst the best of the industry. NFG outperforms 93.33% of its industry peers.
  • NFG has a debt to FCF ratio of 13.54. This is a negative value and a sign of low solvency as NFG would need 13.54 years to pay back of all of its debts.
  • The Debt to FCF ratio of NFG (13.54) is better than 93.33% of its industry peers.
  • A Debt/Equity ratio of 0.61 indicates that NFG is somewhat dependend on debt financing.
  • NFG has a better Debt to Equity ratio (0.61) than 100.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 13.54
Altman-Z 1.75
ROIC/WACC1.28
WACC7.88%
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

  • A Current Ratio of 0.65 indicates that NFG may have some problems paying its short term obligations.
  • With a Current ratio value of 0.65, NFG is not doing good in the industry: 60.00% of the companies in the same industry are doing better.
  • NFG has a Quick 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 has a better Quick ratio (0.59) than 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

  • NFG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 31.33%, which is quite impressive.
  • NFG shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 18.56% yearly.
  • NFG shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 17.11%.
  • The Revenue has been growing by 8.05% on average over the past years. This is quite good.
EPS 1Y (TTM)31.33%
EPS 3Y5.47%
EPS 5Y18.56%
EPS Q2Q%13.39%
Revenue 1Y (TTM)17.11%
Revenue growth 3Y1.38%
Revenue growth 5Y8.05%
Sales Q2Q%17.59%

3.2 Future

  • Based on estimates for the next years, NFG will show a small growth in Earnings Per Share. The EPS will grow by 6.07% on average per year.
  • The Revenue is expected to grow by 9.30% on average over the next years. This is quite good.
EPS Next Y16.84%
EPS Next 2Y10.18%
EPS Next 3Y6.07%
EPS Next 5YN/A
Revenue Next Year11.39%
Revenue Next 2Y17.26%
Revenue Next 3Y9.3%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • 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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8

4. NFG Valuation Analysis

4.1 Price/Earnings Ratio

  • NFG is valuated reasonably with a Price/Earnings ratio of 10.88.
  • Compared to the rest of the industry, the Price/Earnings ratio of NFG indicates a somewhat cheap valuation: NFG is cheaper than 80.00% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.64, NFG is valued rather cheaply.
  • A Price/Forward Earnings ratio of 9.89 indicates a reasonable valuation of NFG.
  • Based on the Price/Forward Earnings ratio, NFG is valued cheaply inside the industry as 93.33% of the companies are valued more expensively.
  • NFG's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 21.36.
Industry RankSector Rank
PE 10.88
Fwd PE 9.89
NFG Price Earnings VS Forward Price EarningsNFG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, NFG is valued cheaply inside the industry as 86.67% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, NFG is valued a bit cheaper than 73.33% of the companies in the same industry.
Industry RankSector Rank
P/FCF 38.5
EV/EBITDA 7.08
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)0.65
PEG (5Y)0.59
EPS Next 2Y10.18%
EPS Next 3Y6.07%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. NFG Dividend Analysis

5.1 Amount

  • NFG has a Yearly Dividend Yield of 2.54%.
  • With a Dividend Yield of 2.54, NFG pays less dividend than the industry average, which is at 3.69. 80.00% of the companies listed in the same industry pay a better dividend than NFG!
  • Compared to an average S&P500 Dividend Yield of 1.82, NFG pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.54%

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 its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
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 2026 0.5 1 1.5 2

5.3 Sustainability

  • 28.99% of the earnings are spent on dividend by NFG. This is a low number and sustainable payout ratio.
  • NFG's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP28.99%
EPS Next 2Y10.18%
EPS Next 3Y6.07%
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 (5/1/2026, 8:04:00 PM)

After market: 82.98 0 (0%)

82.98

-1.4 (-1.66%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryGas Utilities
Industry Strength59.01
Industry Growth43.48
Earnings (Last)04-29
Earnings (Next)07-28
Inst Owners80.9%
Inst Owner Change0.95%
Ins Owners0.83%
Ins Owner Change1.73%
Market Cap7.89B
Revenue(TTM)2.28B
Net Income(TTM)655.16M
Analysts80
Price Target108.12 (30.3%)
Short Float %4.6%
Short Ratio5.78
Dividend
Industry RankSector Rank
Dividend Yield 2.54%
Yearly Dividend2.08
Dividend Growth(5Y)3.74%
DP28.99%
Div Incr Years34
Div Non Decr Years34
Ex-Date03-31
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)4.5%
PT rev (3m)0.48%
EPS NQ rev (1m)5.7%
EPS NQ rev (3m)8.58%
EPS NY rev (1m)3.28%
EPS NY rev (3m)0.7%
Revenue NQ rev (1m)1.9%
Revenue NQ rev (3m)7.15%
Revenue NY rev (1m)-0.11%
Revenue NY rev (3m)0.85%
Valuation
Industry RankSector Rank
PE 10.88
Fwd PE 9.89
P/S 3.31
P/FCF 38.5
P/OCF 6.83
P/B 2.2
P/tB 2.2
EV/EBITDA 7.08
EPS(TTM)7.63
EY9.19%
EPS(NY)8.39
Fwd EY10.11%
FCF(TTM)2.16
FCFY2.6%
OCF(TTM)12.15
OCFY14.65%
SpS25.04
BVpS37.76
TBVpS37.7
PEG (NY)0.65
PEG (5Y)0.59
Graham Number80.5095 (-2.98%)
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 1.75
F-Score7
WACC7.88%
ROIC/WACC1.28
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)31.33%
EPS 3Y5.47%
EPS 5Y18.56%
EPS Q2Q%13.39%
EPS Next Y16.84%
EPS Next 2Y10.18%
EPS Next 3Y6.07%
EPS Next 5YN/A
Revenue 1Y (TTM)17.11%
Revenue growth 3Y1.38%
Revenue growth 5Y8.05%
Sales Q2Q%17.59%
Revenue Next Year11.39%
Revenue Next 2Y17.26%
Revenue Next 3Y9.3%
Revenue Next 5YN/A
EBIT growth 1Y33.83%
EBIT growth 3Y6.01%
EBIT growth 5Y14.79%
EBIT Next Year79.07%
EBIT Next 3Y26.08%
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 8 / 10 to NATIONAL FUEL GAS CO (NFG). This can be considered as Undervalued.


Can you provide the profitability details for NATIONAL FUEL GAS CO?

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


How financially healthy is NATIONAL FUEL GAS CO?

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


Can you provide the dividend sustainability for NFG stock?

The dividend rating of NATIONAL FUEL GAS CO (NFG) is 6 / 10 and the dividend payout ratio is 28.99%.