NATIONAL FUEL GAS CO (NFG) Stock Fundamental Analysis
USA - NYSE:NFG - US6361801011 - Common Stock
84.58 USD
-0.21 (-0.25%)
Taking everything into account, NFG scores 6 out of 10 in our fundamental rating. NFG was compared to 14 industry peers in the Gas Utilities industry. NFG scores excellent on profitability, but there are concerns on its financial health. NFG is growing strongly while it also seems undervalued. This is an interesting combination
1. Profitability
1.1 Basic Checks
In the past year NFG was profitable.
In the past year NFG had a positive cash flow from operations.
Of the past 5 years NFG 4 years were profitable.
Each year in the past 5 years NFG had a positive operating cash flow.
1.2 Ratios
The Return On Assets of NFG (2.88%) is comparable to the rest of the industry.
NFG has a Return On Equity of 8.18%. This is comparable to the rest of the industry: NFG outperforms 50.00% of its industry peers.
NFG's Return On Invested Capital of 9.61% is amongst the best of the industry. NFG outperforms 85.71% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for NFG is above the industry average of 6.32%.
The 3 year average ROIC (8.98%) for NFG is below the current ROIC(9.61%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.88% | ||
| ROE | 8.18% | ||
| ROIC | 9.61% |
ROA(3y)4.62%
ROA(5y)3.39%
ROE(3y)15.34%
ROE(5y)12.02%
ROIC(3y)8.98%
ROIC(5y)8.29%
1.3 Margins
NFG's Profit Margin of 11.15% is fine compared to the rest of the industry. NFG outperforms 71.43% of its industry peers.
NFG's Profit Margin has declined in the last couple of years.
The Operating Margin of NFG (41.10%) is better than 92.86% of its industry peers.
NFG's Operating Margin has improved in the last couple of years.
The Gross Margin of NFG (90.32%) is better than 100.00% of its industry peers.
In the last couple of years the Gross Margin of NFG has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 41.1% | ||
| PM (TTM) | 11.15% | ||
| GM | 90.32% |
OM growth 3Y-0.6%
OM growth 5Y4.39%
PM growth 3Y-42.41%
PM growth 5Y-26.01%
GM growth 3Y0.79%
GM growth 5Y3.64%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), NFG is creating some value.
NFG has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, NFG has more shares outstanding
NFG has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.70, we must say that NFG is in the distress zone and has some risk of bankruptcy.
With an excellent Altman-Z score value of 1.70, NFG belongs to the best of the industry, outperforming 92.86% of the companies in the same industry.
NFG has a debt to FCF ratio of 14.76. This is a negative value and a sign of low solvency as NFG would need 14.76 years to pay back of all of its debts.
NFG has a better Debt to FCF ratio (14.76) than 85.71% of its industry peers.
A Debt/Equity ratio of 0.82 indicates that NFG is somewhat dependend on debt financing.
The Debt to Equity ratio of NFG (0.82) is better than 78.57% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.82 | ||
| Debt/FCF | 14.76 | ||
| Altman-Z | 1.7 |
ROIC/WACC1.3
WACC7.39%
2.3 Liquidity
A Current Ratio of 0.46 indicates that NFG may have some problems paying its short term obligations.
NFG has a Current ratio of 0.46. This is in the lower half of the industry: NFG underperforms 78.57% of its industry peers.
NFG has a Quick Ratio of 0.46. 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 worse Quick ratio (0.39) than 71.43% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.46 | ||
| Quick Ratio | 0.39 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 28.69% over the past year.
NFG shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 7.81% yearly.
Looking at the last year, NFG shows a quite strong growth in Revenue. The Revenue has grown by 12.45% in the last year.
NFG shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.81% yearly.
EPS 1Y (TTM)28.69%
EPS 3Y5.39%
EPS 5Y7.81%
EPS Q2Q%65.66%
Revenue 1Y (TTM)12.45%
Revenue growth 3Y3.73%
Revenue growth 5Y2.81%
Sales Q2Q%27.4%
3.2 Future
The Earnings Per Share is expected to grow by 22.83% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 10.96% on average over the next years. This is quite good.
EPS Next Y39.59%
EPS Next 2Y31.76%
EPS Next 3Y22.83%
EPS Next 5YN/A
Revenue Next Year9.68%
Revenue Next 2Y13.76%
Revenue Next 3Y10.96%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better 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 accelerating.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 13.09 indicates a correct valuation of NFG.
Based on the Price/Earnings ratio, NFG is valued a bit cheaper than 71.43% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.34, NFG is valued rather cheaply.
NFG is valuated reasonably with a Price/Forward Earnings ratio of 9.72.
92.86% of the companies in the same industry are more expensive than NFG, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of NFG to the average of the S&P500 Index (22.86), we can say NFG is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.09 | ||
| Fwd PE | 9.72 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, NFG is valued cheaper than 85.71% of the companies in the same industry.
NFG's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. NFG is cheaper than 64.29% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 41.12 | ||
| EV/EBITDA | 7.67 |
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 decent profitability rating of NFG may justify a higher PE ratio.
NFG's earnings are expected to grow with 22.83% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.33
PEG (5Y)1.68
EPS Next 2Y31.76%
EPS Next 3Y22.83%
5. Dividend
5.1 Amount
NFG has a Yearly Dividend Yield of 2.49%.
Compared to an average industry Dividend Yield of 3.87, NFG is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.44, NFG has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.49% |
5.2 History
The dividend of NFG has a limited annual growth rate of 3.28%.
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)3.28%
Div Incr Years34
Div Non Decr Years34
5.3 Sustainability
NFG pays out 76.90% of its income as dividend. This is not a sustainable payout ratio.
The dividend of NFG is growing, but earnings are growing more, so the dividend growth is sustainable.
DP76.9%
EPS Next 2Y31.76%
EPS Next 3Y22.83%
NYSE:NFG (10/14/2025, 3:58:56 PM)
84.58
-0.21 (-0.25%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryGas Utilities
Earnings (Last)
Earnings (Next)
Inst Owners79%
Inst Owner Change-0.04%
Ins Owners0.83%
Ins Owner Change0.32%
Market Cap7.64B
Analysts78
Price Target103.02 (21.8%)
Short Float %2.92%
Short Ratio4.5
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.49% |
Yearly Dividend2.01
Dividend Growth(5Y)3.28%
DP76.9%
Div Incr Years34
Div Non Decr Years34
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7.73%
Min EPS beat(2)7.07%
Max EPS beat(2)8.4%
EPS beat(4)3
Avg EPS beat(4)3.5%
Min EPS beat(4)-9.24%
Max EPS beat(4)8.4%
EPS beat(8)6
Avg EPS beat(8)4.32%
EPS beat(12)8
Avg EPS beat(12)3.71%
EPS beat(16)12
Avg EPS beat(16)5.26%
Revenue beat(2)0
Avg Revenue beat(2)-9.42%
Min Revenue beat(2)-12.14%
Max Revenue beat(2)-6.69%
Revenue beat(4)0
Avg Revenue beat(4)-15.12%
Min Revenue beat(4)-29.79%
Max Revenue beat(4)-6.69%
Revenue beat(8)0
Avg Revenue beat(8)-18.02%
Revenue beat(12)2
Avg Revenue beat(12)-13.24%
Revenue beat(16)3
Avg Revenue beat(16)-11.08%
PT rev (1m)0%
PT rev (3m)17.44%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-3.74%
EPS NY rev (1m)0.06%
EPS NY rev (3m)-0.25%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.66%
Revenue NY rev (1m)-0.17%
Revenue NY rev (3m)-1.6%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.09 | ||
| Fwd PE | 9.72 | ||
| P/S | 3.5 | ||
| P/FCF | 41.12 | ||
| P/OCF | 7.21 | ||
| P/B | 2.57 | ||
| P/tB | 2.57 | ||
| EV/EBITDA | 7.67 |
EPS(TTM)6.46
EY7.64%
EPS(NY)8.7
Fwd EY10.28%
FCF(TTM)2.06
FCFY2.43%
OCF(TTM)11.73
OCFY13.87%
SpS24.16
BVpS32.93
TBVpS32.87
PEG (NY)0.33
PEG (5Y)1.68
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.88% | ||
| ROE | 8.18% | ||
| ROCE | 11.88% | ||
| ROIC | 9.61% | ||
| ROICexc | 9.66% | ||
| ROICexgc | 9.67% | ||
| OM | 41.1% | ||
| PM (TTM) | 11.15% | ||
| GM | 90.32% | ||
| FCFM | 8.51% |
ROA(3y)4.62%
ROA(5y)3.39%
ROE(3y)15.34%
ROE(5y)12.02%
ROIC(3y)8.98%
ROIC(5y)8.29%
ROICexc(3y)9.04%
ROICexc(5y)8.33%
ROICexgc(3y)9.05%
ROICexgc(5y)8.34%
ROCE(3y)11.22%
ROCE(5y)10.34%
ROICexcg growth 3Y-1.45%
ROICexcg growth 5Y3.52%
ROICexc growth 3Y-1.44%
ROICexc growth 5Y3.52%
OM growth 3Y-0.6%
OM growth 5Y4.39%
PM growth 3Y-42.41%
PM growth 5Y-26.01%
GM growth 3Y0.79%
GM growth 5Y3.64%
F-Score6
Asset Turnover0.26
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.82 | ||
| Debt/FCF | 14.76 | ||
| Debt/EBITDA | 1.82 | ||
| Cap/Depr | 196.09% | ||
| Cap/Sales | 40.05% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 78.93% | ||
| Profit Quality | 76.32% | ||
| Current Ratio | 0.46 | ||
| Quick Ratio | 0.39 | ||
| Altman-Z | 1.7 |
F-Score6
WACC7.39%
ROIC/WACC1.3
Cap/Depr(3y)223.28%
Cap/Depr(5y)225.59%
Cap/Sales(3y)43.83%
Cap/Sales(5y)44.19%
Profit Quality(3y)73.86%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)28.69%
EPS 3Y5.39%
EPS 5Y7.81%
EPS Q2Q%65.66%
EPS Next Y39.59%
EPS Next 2Y31.76%
EPS Next 3Y22.83%
EPS Next 5YN/A
Revenue 1Y (TTM)12.45%
Revenue growth 3Y3.73%
Revenue growth 5Y2.81%
Sales Q2Q%27.4%
Revenue Next Year9.68%
Revenue Next 2Y13.76%
Revenue Next 3Y10.96%
Revenue Next 5YN/A
EBIT growth 1Y22.54%
EBIT growth 3Y3.1%
EBIT growth 5Y7.33%
EBIT Next Year109.06%
EBIT Next 3Y36.78%
EBIT Next 5YN/A
FCF growth 1Y-30.28%
FCF growth 3Y50.02%
FCF growth 5YN/A
OCF growth 1Y-12.64%
OCF growth 3Y10.43%
OCF growth 5Y8.95%