Stock AnalizNational Fuel Gas Co. NFG
Oil/Gas Transmission · data as of November 13, 2026
National Fuel Gas Co. (NFG) is a utility company listed in the US with a market value of about $7.3B. In the twelve months to September 30, 2026 it had revenue of $2.5B and net income of $665M, a net margin of 26.5%.
Its overall Stock Analiz score is 2.8 out of 5 (average). The strongest part is track record (4/5); the weakest is value (2/5).
Key numbers: a P/E of 10.8, a price to free cash flow of 40.2, 5-year revenue growth of 8% a year, a 5-year average ROIC of 17%. A discounted cash flow model with moderate assumptions puts its intrinsic value about 21% below the current price.
Score: 2.8 / 5
Checks passed
- P/E below 25
- P/E below the industry median
- Revenue growth above 10% last year
- Profit margin improving
- 3-year free cash flow growth above 10% a year
- 5-year revenue growth above 8% a year
- 5-year average ROIC above 12%
- Profitable 5 years in a row
Checks not passed
- P/FCF below 20
- Price below intrinsic value (DCF, moderate assumptions)
- PEG below 1.5
- 3-year revenue growth above 10% a year
- Strong R&D investment or growth above 20%
- 5-year EPS growth above 10% a year
- More cash than debt, or low debt to equity
- Debt below 3 years of free cash flow
Valuation
Growth and quality
Financials, last 10 years
| Fiscal year | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.5B | $2.3B | $1.9B | $2.3B | $3.1B | $1.7B | $1.5B | $1.7B | $1.6B | $1.6B | $1.5B |
| Net income | $665M | $519M | $78M | $477M | $566M | $364M | -$124M | $304M | $392M | $283M | -$291M |
| Free cash flow | $181M | $187M | $135M | $227M | $695000 | $40M | $25M | -$94M | $31M | $234M | $7M |
| EPS (diluted) | $7.11 | $5.68 | $0.84 | $5.17 | $6.15 | $3.97 | $-1.41 | $3.51 | $4.53 | $3.30 | $-3.43 |
| Net margin | 26.5% | 22.8% | 4.0% | 21.1% | 18.5% | 20.9% | -8.0% | 18.0% | 24.6% | 17.9% | -20.0% |
| ROIC | — | 10.4% | 6.9% | 23.7% | 33.0% | 11.0% | 0.5% | 9.4% | 10.1% | 9.3% | -6.4% |
From the company’s 10-K and 10-Q filings with the SEC. TTM = trailing twelve months.
What analysts expect
The average 12-month price target from 2 analysts is $93.00, 21% above the current price; targets range from $91.00 to $95.00; the consensus rating is “Buy”; expected EPS is $7.45 for the fiscal year ending September 30, 2027.
Frequently asked questions
What is National Fuel Gas’s P/E ratio?
About 10.8, based on the last twelve months of diluted earnings per share (forward P/E about 8.8).
Is National Fuel Gas stock undervalued?
Our DCF model with moderate assumptions puts its intrinsic value about 21% below the current market value. A model is a range, not a promise; try your own assumptions in the DCF calculator.
Does National Fuel Gas pay a dividend?
Yes. The dividend yield is about 2.93%, and it has paid dividends for 10 years in our data.
Is National Fuel Gas a good stock to buy?
We do not give buy or sell advice. National Fuel Gas scores 2.8 out of 5 on our five checks (value, growth, track record, financial health and shareholder returns); the checks above show why.
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Generated from SEC filings, analyst consensus estimates and market prices, rebuilt every day. Educational information, not investment advice.