# National Fuel Gas Company (NFG) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Energy / Oil, Gas & Consumable Fuels. Price $83.32, market value $7.9 billion.

## Valuation
- **P/E (trailing): 11.6×** (5-yr avg 22.9×, 3-yr avg 31.4×). National Fuel Gas Company trades at 11.6× trailing earnings, well below its own five-year average of 22.9×: cheap by its own standards. The Energy median in the September 2026 study was 16.8×. Forward P/E is 10.9×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.02**. A PEG of 0.02 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 3.2×**. Each dollar of revenue is priced at 3.2×.
- **Price / book: 2.0×**. The shares trade at 2.0× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 7.1×**. Enterprise value is 7.1× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 2.8%** (5-yr avg 2.2%). Free cash flow equals 2.8% of the market value, above its five-year average of 2.2%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 8.6%**. The inverse of the P/E: 8.6% of the price is earned each year.

## Profitability
- **Operating margin: 41.1%**. 41.1% of revenue is left after running the business, an exceptional level.
- **Net margin: 23.4%**. 23.4% of each dollar of sales reaches the bottom line.
- **Return on equity: 16.8%**. 16.8% on shareholders' equity is solid.
- **Return on invested capital: 13.9%**. Return on all capital, debt included, is 13.9%.
- **Return on assets: 7.7%**. Each dollar of assets produces 7.7% of profit.

## Growth
- **Revenue growth (1 yr): 30.0%** (3-yr -10.2%/yr, 5-yr 7.5%/yr). Revenue grew 30.0% over the last year, against 7.5% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 576.2%** (3-yr -2.6%/yr). Earnings per share rose 576.2%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 545.8%/yr**. Free cash flow has compounded at 545.8% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.87**. Debt is 0.87 times equity, moderate leverage.
- **Net debt / EBITDA: 1.8×**. It would take 1.8 years of operating earnings to repay net borrowings, within the comfortable range.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 2.66%** ($2.16 per share, trailing). National Fuel Gas Company yields 2.66%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 36%** (89% of free cash flow). 36% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 26**. 26 straight years of increases (the data covers 26 years, so this may be longer): a record very few companies hold.
- **Dividend growth (5 yr): 3.7%/yr** (1-yr 3.9%). The dividend has grown 3.7% a year over five years.

## Analyst view
- **Analyst consensus: buy** (2 analysts). 2 analysts cover National Fuel Gas Company; the consensus is buy, with an average price target of $92.00 (+10% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -1.6%** (YTD 5.4%, 3-mo 8.4%). The shares are down 1.6% over twelve months including dividends.
- **From 52-week high: -14.2%** (10.8% above the low). Trading 14% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 56**. An RSI of 56 is neutral.
- **Beta (1 yr): -0.19** (volatility 20%). Beta of -0.19 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=NFG · Page: https://foliofundamentals.com/stocks/nfg

Not investment advice.