National Fuel Gas Company (NFG) reported $2.56B of revenue for the twelve months ended Jun 30, 2026. That is up 17.2% from the year before. Revenue for fiscal 2025 was $2.28B.

Yes. National Fuel Gas Company earned $675.28M in net income for the twelve months ended Jun 30, 2026, a net margin of 26.3%.

How much cash and debt does NFG have?

National Fuel Gas Company reported $1.24B in cash and cash equivalents and $3.57B of debt on its most recent balance sheet in SEC filings.

How fast is NFG revenue growing?

National Fuel Gas Company's revenue changed +17.1% in fiscal 2025, to $2.28B. Its compound annual growth rate was +8.1% over 5 years.

What is NFG gross margin?

National Fuel Gas Company's gross profit was $2.26B on $2.56B of revenue for the twelve months ended Jun 30, 2026, a gross margin of 88.0%.

What is NFG free cash flow?

National Fuel Gas Company generated $222.27M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of $1.27B less capital expenditures.

What is NFG earnings per share?

Diluted earnings per share were $7.20 for the twelve months ended Jun 30, 2026, from SEC filings, restated for any stock split those filings show.

When did NFG last report financial results?

The latest statements here come from National Fuel Gas Company's 10-Q filed on Jul 30, 2026, covering the period ended Jun 30, 2026.

Financials · NFG

National Fuel Gas Company (NFG) financials

For the twelve months ended Jun 30, 2026, National Fuel Gas Company reported $2.56B of revenue and $675.28M of net income.

Revenue, TTM: $2.56B
Revenue growth, YoY: +17.2%
Net income, TTM: $675.28M
Net income growth, YoY: +177.3%
Net margin: 26.3%
Free cash flow, TTM: $222.27M
EPS, diluted, TTM: $7.20
EPS growth, YoY: +167.7%
Cash: $1.24B
Total debt: $3.57B
P/E: 10.44
P/S: 2.75
Market cap: $7.05B

Annual revenue$2.28B

FY2016FY2025

Annual net income$518.50M

FY2016FY2025

Annual free cash flow$187.21M

FY2016FY2025

NFG revenue and earnings growth

NFG revenueQ3 2026$537.50M

Quarter YoY: +1.1%
QoQ: -40.9%
FY YoY: +17.1%
5Y CAGR: +8.1%

NFG revenue was $537.50M in fiscal Q3 2026 (ended Jun 30, 2026), up 1.1% from a year earlier and down 40.9% from the prior quarter. For the full fiscal 2025 it was $2.28B, up 17.1% from fiscal 2024. Compound annual growth was +8.1% over 5 years. It rose in 6 of the last 9 fiscal years.

NFG net incomeQ3 2026$138.62M

Quarter YoY: -7.5%
QoQ: -44.0%
FY YoY: +568.9%

NFG net income was $138.62M in fiscal Q3 2026 (ended Jun 30, 2026), down 7.5% from a year earlier and down 44.0% from the prior quarter. For the full fiscal 2025 it was $518.50M, up 568.9% from fiscal 2024. It rose in 2 of the last 4 fiscal years.

NFG EPSQ3 2026$1.45

Quarter YoY: -11.6%
QoQ: -44.0%
FY YoY: +576.2%

NFG diluted EPS was $1.45 in fiscal Q3 2026 (ended Jun 30, 2026), down 11.6% from a year earlier and down 44.0% from the prior quarter. For the full fiscal 2025 it was $5.68, up 576.2% from fiscal 2024.

NFG free cash flowQ3 2026$111.01M

Quarter YoY: -43.2%
QoQ: -31.4%
FY YoY: +39.0%
5Y CAGR: +50.0%

NFG free cash flow was $111.01M in fiscal Q3 2026 (ended Jun 30, 2026), down 43.2% from a year earlier and down 31.4% from the prior quarter. For the full fiscal 2025 it was $187.21M, up 39.0% from fiscal 2024. Compound annual growth was +50.0% over 5 years. It rose in 3 of the last 5 fiscal years.

Export CSV

Income statement

Income statement
Line item	FY2025 Sep 30, 2025	FY2024 Sep 30, 2024	FY2023 Sep 30, 2023	FY2022 Sep 30, 2022	FY2021 Sep 30, 2021	FY2020 Sep 30, 2020	FY2019 Sep 30, 2019	FY2018 Sep 30, 2018	FY2017 Sep 30, 2017	FY2016 Sep 30, 2016
Revenue	$2.28B	$1.94B	$2.25B	$3.06B	$1.74B	$1.55B	$1.69B	$1.59B	$1.58B	$1.45B
Cost of revenue	$213.44M	$150.06M	$437.60M	$392.09M	$171.83M	$233.89M	$386.26M	$337.82M	-	-
Gross profit	$2.06B	$1.79B	$1.82B	$2.67B	$1.57B	$1.31B	$1.31B	$1.25B	-	-
Selling, general and admin	$75.06M	$70.93M	$65.83M	-	-	-	-	-	-	-
Operating income	$813.46M	$209.72M	$755.15M	$814.52M	$639.92M	$29.86M	$511.81M	$519.72M	$593.78M	-$416.52M
Interest expense	$155.83M	$138.69M	$131.89M	$130.36M	$146.36M	$117.08M	$106.76M	$114.52M	$119.84M	$121.04M
Pre-tax income	$694.05M	$87.25M	$641.40M	$682.65M	$478.33M	-$105.03M	$389.51M	$384.03M	$444.16M	-$523.51M
Income tax	$175.55M	$9.74M	$164.53M	$116.63M	$114.68M	$18.74M	$85.22M	-$7.49M	$160.68M	-$232.55M
Net income	$518.50M	$77.51M	$476.87M	$566.02M	$363.65M	-$123.77M	$304.29M	$391.52M	$283.48M	-$290.96M
EPS, basic	$5.73	$0.84	$5.20	$6.19	$3.99	-$1.41	$3.53	$4.56	$3.32	-$3.43
EPS, diluted	$5.68	$0.84	$5.17	$6.15	$3.97	-$1.41	$3.51	$4.53	$3.30	-$3.43
Diluted shares	91.2M	92.3M	92.3M	92.1M	91.7M	88.0M	86.8M	86.4M	86.0M	84.8M

Balance sheet

Balance sheet
Line item	FY2025 Sep 30, 2025	FY2024 Sep 30, 2024	FY2023 Sep 30, 2023	FY2022 Sep 30, 2022	FY2021 Sep 30, 2021	FY2020 Sep 30, 2020	FY2019 Sep 30, 2019	FY2018 Sep 30, 2018	FY2017 Sep 30, 2017	FY2016 Sep 30, 2016
Cash and equivalents	$43.17M	$38.22M	$55.45M	$46.05M	$31.53M	$20.54M	$20.43M	$229.61M	$555.53M	$129.97M
Receivables	-	-	-	-	-	-	$139.96M	$141.50M	$112.38M	$133.20M
Current assets	$410.73M	$355.92M	$414.43M	$761.13M	$522.45M	$314.20M	$362.62M	$544.59M	$818.28M	$413.03M
Goodwill	$5.48M	$5.48M	$5.48M	$5.48M	$5.48M	$5.48M	$5.48M	$5.48M	$5.48M	$5.48M
Total assets	$8.72B	$8.32B	$8.28B	$7.90B	$7.46B	$6.96B	$6.46B	$6.04B	$6.10B	$5.64B
Current liabilities	$925.76M	$1.10B	$806.31M	$1.94B	$1.24B	$459.57M	$421.91M	$440.06M	$646.04M	$303.74M
Short-term debt	$300.00M	$500.00M	$0	$549.00M	$0	$0	$0	$0	$300.00M	$0
Long-term debt	$2.38B	$2.19B	$2.38B	$2.08B	$2.63B	$2.63B	$2.13B	$2.13B	$2.08B	$2.09B
Total debt	$2.68B	$2.69B	$2.38B	$2.63B	$2.63B	$2.63B	$2.13B	$2.13B	$2.38B	$2.09B
Total liabilities	$5.62B	$5.47B	$5.32B	$5.82B	$5.68B	$4.99B	$4.32B	$4.10B	$4.40B	$4.11B
Shareholders' equity	$3.09B	$2.85B	-$55.06M	-$625.73M	$1.79B	$1.97B	$2.14B	$1.94B	$1.70B	$1.53B

Cash flow

Cash flow
Line item	FY2025 Sep 30, 2025	FY2024 Sep 30, 2024	FY2023 Sep 30, 2023	FY2022 Sep 30, 2022	FY2021 Sep 30, 2021	FY2020 Sep 30, 2020	FY2019 Sep 30, 2019	FY2018 Sep 30, 2018	FY2017 Sep 30, 2017	FY2016 Sep 30, 2016
Operating cash flow	$1.10B	$1.07B	$1.24B	$812.52M	$791.55M	$740.81M	$694.48M	$615.30M	$684.51M	$588.98M
Capital expenditures	$912.82M	$931.24M	$1.01B	$811.83M	$751.73M	$716.15M	$788.94M	$584.00M	$450.33M	$581.58M
Free cash flow	$187.21M	$134.72M	$227.21M	$695.0K	$39.82M	$24.66M	-$94.45M	$31.30M	$234.17M	$7.40M
Investing cash flow	-$891.70M	-$933.90M	-$1.11B	-$518.70M	-$633.22M	-$1.22B	-$799.17M	-$528.89M	-$422.56M	-$453.50M
Financing cash flow	-$203.38M	-$149.28M	-$207.00M	-$276.24M	-$58.74M	$476.09M	-$101.09M	-$410.64M	$163.87M	-$119.11M
Dividends paid	$188.44M	$183.80M	$176.10M	$168.15M	$163.09M	$153.32M	$147.42M	$143.26M	$139.06M	$134.82M
Share repurchases	$54.43M	$64.09M	$0	$0	-	-	-	-	-	-
Stock-based compensation	$19.75M	$22.08M	$20.63M	$19.51M	$17.07M	$14.93M	$21.19M	$15.76M	$12.26M	$5.75M
Depreciation and amortization	$456.59M	$457.03M	$409.57M	$369.79M	$335.30M	$306.16M	$275.66M	$240.96M	$224.19M	$249.42M

Key ratios

Key ratios
Line item	FY2025 Sep 30, 2025	FY2024 Sep 30, 2024	FY2023 Sep 30, 2023	FY2022 Sep 30, 2022	FY2021 Sep 30, 2021	FY2020 Sep 30, 2020	FY2019 Sep 30, 2019	FY2018 Sep 30, 2018	FY2017 Sep 30, 2017	FY2016 Sep 30, 2016
Revenue growth, YoY	17.1%	-13.8%	-26.3%	75.7%	12.7%	-8.7%	6.3%	0.8%	8.8%	-
Net income growth, YoY	568.9%	-83.7%	-15.8%	55.7%	-	-	-22.3%	38.1%	-	-
EPS growth, YoY	576.2%	-83.8%	-15.9%	54.9%	-	-	-22.5%	37.3%	-	-
Gross margin	90.6%	92.3%	80.6%	87.2%	90.1%	84.9%	77.2%	78.8%	-	-
Operating margin	35.7%	10.8%	33.5%	26.6%	36.7%	1.9%	30.2%	32.6%	37.6%	-28.7%
Net margin	22.8%	4.0%	21.1%	18.5%	20.9%	-8.0%	18.0%	24.6%	17.9%	-20.0%
Free cash flow margin	8.2%	6.9%	10.1%	0.0%	2.3%	1.6%	-5.6%	2.0%	14.8%	0.5%
Return on equity	16.8%	2.7%	-	-	20.4%	-6.3%	14.2%	20.2%	16.6%	-19.1%
Return on assets	5.9%	0.9%	5.8%	7.2%	4.9%	-1.8%	4.7%	6.5%	4.6%	-5.2%
Current ratio	0.44	0.32	0.51	0.39	0.42	0.68	0.86	1.24	1.27	1.36
Debt to equity	0.87	0.94	-	-	1.47	1.33	1.00	1.10	1.40	1.37

Income statement

Income statement
Line item	Q3 2026 Jun 30, 2026	Q2 2026 Mar 31, 2026	Q1 2026 Dec 31, 2025	Q4 2025* Sep 30, 2025	Q3 2025 Jun 30, 2025	Q2 2025 Mar 31, 2025	Q1 2025 Dec 31, 2024	Q4 2024* Sep 30, 2024	Q3 2024 Jun 30, 2024	Q2 2024 Mar 31, 2024	Q1 2024 Dec 31, 2023	Q4 2023* Sep 30, 2023
Revenue	$537.50M	$909.03M	$651.51M	$466.28M	$531.83M	$734.76M	$549.48M	$372.07M	$417.44M	$629.94M	$525.36M	$336.98M
Cost of revenue	$29.88M	$207.85M	$85.61M	-$15.22M	$27.99M	$135.34M	$65.34M	-$17.38M	$4.95M	$105.94M	$56.55M	-$12.87M
Gross profit	$507.62M	$701.18M	$565.90M	$481.50M	$503.84M	$599.42M	$484.14M	$389.45M	$412.49M	$524.00M	$468.81M	$349.84M
Selling, general and admin	$17.42M	$18.41M	$19.34M	$18.46M	$18.54M	$18.79M	$19.27M	-	-	-	-	-
Operating income	$208.94M	$347.13M	$276.12M	$179.76M	$230.25M	$317.25M	$86.19M	-$196.57M	-$51.44M	$250.62M	$207.11M	$125.30M
Interest expense	$36.01M	$33.73M	$43.37M	$35.45M	$37.89M	$44.76M	$37.74M	-	-	-	-	-
Pre-tax income	$184.79M	$330.40M	$240.98M	$149.26M	$200.90M	$287.73M	$56.17M	-$227.99M	-$82.47M	$221.60M	$176.11M	$97.78M
Income tax	$46.17M	$82.73M	$59.34M	$41.92M	$51.08M	$71.37M	$11.18M	-$60.37M	-$28.31M	$55.33M	$43.09M	$24.11M
Net income	$138.62M	$247.67M	$181.65M	$107.34M	$149.82M	$216.36M	$44.99M	-$167.62M	-$54.16M	$166.27M	$133.02M	$73.68M
EPS, basic	$1.46	$2.61	$1.99	$1.18	$1.66	$2.39	$0.50	-$1.83	-$0.59	$1.81	$1.45	$0.81
EPS, diluted	$1.45	$2.59	$1.98	$1.18	$1.64	$2.37	$0.49	-$1.81	-$0.59	$1.80	$1.44	$0.80
Diluted shares	95.7M	95.7M	92.0M	-	91.1M	91.2M	91.4M	-	91.9M	92.5M	92.4M	-

Balance sheet

Balance sheet
Line item	Q3 2026 Jun 30, 2026	Q2 2026 Mar 31, 2026	Q1 2026 Dec 31, 2025	Q4 2025* Sep 30, 2025	Q3 2025 Jun 30, 2025	Q2 2025 Mar 31, 2025	Q1 2025 Dec 31, 2024	Q4 2024* Sep 30, 2024	Q3 2024 Jun 30, 2024	Q2 2024 Mar 31, 2024	Q1 2024 Dec 31, 2023	Q4 2023* Sep 30, 2023
Cash and equivalents	$1.24B	$26.60M	$271.40M	$43.17M	$39.32M	$39.95M	$48.69M	$38.22M	$81.41M	$50.77M	$41.69M	$55.45M
Current assets	$1.61B	$507.60M	$758.60M	$410.73M	$408.15M	$568.47M	$464.61M	$355.92M	$398.73M	$419.00M	$453.60M	$414.43M
Goodwill	$5.48M	$5.48M	$5.48M	$5.48M	$5.48M	$5.48M	$5.48M	$5.48M	$5.48M	$5.48M	$5.48M	$5.48M
Total assets	$10.45B	$9.13B	$9.21B	$8.72B	$8.45B	$8.48B	$8.30B	$8.32B	$8.48B	$8.68B	$8.59B	$8.28B
Current liabilities	$504.22M	$820.15M	$1.17B	$925.76M	$889.90M	$1.20B	$1.20B	$1.10B	$516.64M	$727.92M	$807.25M	$806.31M
Short-term debt	$0	$300.00M	$600.00M	$300.00M	$300.00M	$350.00M	$500.00M	$500.00M	$50.00M	$0	$0	$0
Long-term debt	$3.57B	$2.08B	$2.08B	$2.38B	$2.38B	$2.38B	$2.19B	$2.19B	$2.64B	$2.39B	$2.39B	$2.38B
Total debt	$3.57B	$2.38B	$2.68B	$2.68B	$2.68B	$2.73B	$2.69B	$2.69B	$2.69B	$2.39B	$2.39B	$2.38B
Total liabilities	$6.53B	$5.30B	$5.62B	$5.62B	$5.47B	$5.71B	$5.55B	$5.47B	$5.37B	$5.37B	$5.41B	$5.32B
Shareholders' equity	$3.92B	$3.82B	$3.59B	$3.09B	$2.98B	$2.77B	-$76.15M	$2.85B	$5.05M	$75.34M	$67.38M	-$55.06M

Cash flow

Cash flow
Line item	Q3 2026 Jun 30, 2026	Q2 2026 Mar 31, 2026	Q1 2026 Dec 31, 2025	Q4 2025* Sep 30, 2025	Q3 2025 Jun 30, 2025	Q2 2025 Mar 31, 2025	Q1 2025 Dec 31, 2024	Q4 2024* Sep 30, 2024	Q3 2024 Jun 30, 2024	Q2 2024 Mar 31, 2024	Q1 2024 Dec 31, 2023	Q4 2023* Sep 30, 2023
Operating cash flow	$377.26M	$382.36M	$274.92M	$237.75M	$388.41M	$253.78M	$220.09M	$197.95M	$281.75M	$315.32M	$270.94M	$181.96M
Capital expenditures	$266.25M	$220.64M	$277.63M	$285.50M	$193.06M	$193.83M	$240.43M	$247.04M	$202.24M	$235.02M	$246.94M	$282.13M
Free cash flow	$111.01M	$161.72M	-$2.71M	-$47.75M	$195.35M	$59.95M	-$20.34M	-$49.09M	$79.51M	$80.30M	$24.01M	-$100.17M
Investing cash flow	-$256.47M	-$218.86M	-$278.89M	-$273.74M	-$192.59M	-$190.83M	-$234.55M	-$248.33M	-$202.42M	-$235.29M	-$247.86M	-$283.25M
Financing cash flow	$1.09B	-$408.30M	$232.20M	$39.83M	-$247.81M	-$20.34M	$24.93M	$7.20M	-$48.69M	-$70.94M	-$36.85M	$103.32M
Dividends paid	$50.84M	$50.83M	$48.35M	$48.34M	$46.55M	$46.67M	$46.87M	$47.19M	$45.56M	$45.60M	$45.45M	$45.44M
Share repurchases	$0	$0	$0	$0	$3.96M	$16.95M	$33.52M	$36.24M	$23.62M	$4.23M	$0	$0
Stock-based compensation	$4.86M	$5.85M	$4.09M	$4.03M	$5.23M	$5.78M	$4.71M	$6.10M	$5.51M	$5.82M	$4.66M	$4.82M
Depreciation and amortization	$121.06M	$119.33M	$122.03M	$119.54M	$116.41M	$111.28M	$109.37M	$108.85M	$113.45M	$118.94M	$115.79M	$109.60M

Key ratios

Key ratios
Line item	Q3 2026 Jun 30, 2026	Q2 2026 Mar 31, 2026	Q1 2026 Dec 31, 2025	Q4 2025* Sep 30, 2025	Q3 2025 Jun 30, 2025	Q2 2025 Mar 31, 2025	Q1 2025 Dec 31, 2024	Q4 2024* Sep 30, 2024	Q3 2024 Jun 30, 2024	Q2 2024 Mar 31, 2024	Q1 2024 Dec 31, 2023	Q4 2023* Sep 30, 2023
Revenue growth, YoY	1.1%	23.7%	18.6%	25.3%	27.4%	16.6%	4.6%	10.4%	-2.6%	-14.1%	-35.5%	-74.3%
Net income growth, YoY	-7.5%	14.5%	303.8%	-	-	30.1%	-66.2%	-	-	18.0%	-21.6%	-53.4%
EPS growth, YoY	-11.6%	9.3%	304.1%	-	-	31.7%	-66.0%	-	-	17.6%	-21.7%	-53.5%
Gross margin	94.4%	77.1%	86.9%	103.3%	94.7%	81.6%	88.1%	104.7%	98.8%	83.2%	89.2%	103.8%
Operating margin	38.9%	38.2%	42.4%	38.6%	43.3%	43.2%	15.7%	-52.8%	-12.3%	39.8%	39.4%	37.2%
Net margin	25.8%	27.2%	27.9%	23.0%	28.2%	29.4%	8.2%	-45.1%	-13.0%	26.4%	25.3%	21.9%
Free cash flow margin	20.7%	17.8%	-0.4%	-10.2%	36.7%	8.2%	-3.7%	-13.2%	19.0%	12.7%	4.6%	-29.7%
Current ratio	3.20	0.62	0.65	0.44	0.46	0.47	0.39	0.32	0.77	0.58	0.56	0.51
Debt to equity	0.91	0.62	0.75	0.87	0.90	0.99	-	0.94	532.10	31.68	35.40	-

Source: XBRL data National Fuel Gas Company files with the SEC, latest filing dated Jul 30, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

NFG peers

Company	Revenue	Growth	Net income	Net margin	Market cap
NFG	$2.56B	+17.2%	$675.28M	26.3%	$7.05B
LNGCheniere Energy Inc.	$23.94B	+26.3%	$3.04B	12.7%	$58.19B
VGVenture Global Inc.	$16.95B	+100.7%	$3.33B	19.7%	$29.49B
ATOAtmos Energy Corporation	$4.92B	+6.5%	$1.40B	28.5%	$29.29B
CQPCheniere Energy Partners, LP	$11.67B	+13.2%	$3.27B	28.1%	$28.41B
UGPUltrapar Participacoes S.A. (New)	R$142.37B	+6.6%	R$2.45B	1.7%	$6.10B
NJRNewJersey Resources Corporation	$2.23B	+6.4%	$366.16M	16.4%	$5.52B
SRSpire Inc.	$2.54B	+7.9%	$358.30M	14.1%	$5.25B
OGSONE Gas Inc.	-	-	$293.01M	-	$5.11B

NFG FAQ

9 questions

What is NFG revenue?
National Fuel Gas Company (NFG) reported $2.56B of revenue for the twelve months ended Jun 30, 2026. That is up 17.2% from the year before. Revenue for fiscal 2025 was $2.28B.
Is NFG profitable?
Yes. National Fuel Gas Company earned $675.28M in net income for the twelve months ended Jun 30, 2026, a net margin of 26.3%.
How much cash and debt does NFG have?
National Fuel Gas Company reported $1.24B in cash and cash equivalents and $3.57B of debt on its most recent balance sheet in SEC filings.
How fast is NFG revenue growing?
National Fuel Gas Company's revenue changed +17.1% in fiscal 2025, to $2.28B. Its compound annual growth rate was +8.1% over 5 years.
What is NFG gross margin?
National Fuel Gas Company's gross profit was $2.26B on $2.56B of revenue for the twelve months ended Jun 30, 2026, a gross margin of 88.0%.
What is NFG free cash flow?
National Fuel Gas Company generated $222.27M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of $1.27B less capital expenditures.
What is NFG earnings per share?
Diluted earnings per share were $7.20 for the twelve months ended Jun 30, 2026, from SEC filings, restated for any stock split those filings show.
When did NFG last report financial results?
The latest statements here come from National Fuel Gas Company's 10-Q filed on Jul 30, 2026, covering the period ended Jun 30, 2026.
Where does this NFG financial data come from?
Quantisnow builds these statements from the structured XBRL data National Fuel Gas Company files with the SEC. It is provided for information only and is not investment advice.