National Fuel Gas Company

National Fuel Gas Company

NFGยทNYSE

$77.45

+0.28%
EnergyOil & Gas Integrated

National Fuel Gas Company operates as a diversified energy company. It operates through four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment explores for, develops, and produces natural gas and oil in California and in the Appalachian region of the United States. As of September 30, 2021, it had proved developed and undeveloped reserves of 21,537 thousand barrels of oil and 3,723,433 million cubic feet of natural gas. The Pipeline and Storage segment provides interstate natural gas transportation and storage services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields. This segment also transports natural gas for National Fuel Gas Distribution Corporation, as well as for other utilities, industrial companies, and power producers in New York State; and owns and operates the Empire Pipeline. The Gathering segment builds, owns, and operates natural gas processing and pipeline gathering facilities in the Appalachian region, as well as provides gathering services to Seneca Resources Company, LLC. The Utility segment sells natural gas or provides natural gas transportation services to approximately 753,000 customers in Buffalo, Niagara Falls, and Jamestown, New York; and Erie and Sharon, Pennsylvania. The company markets gas to industrial, wholesale, commercial, public authority, and residential customers primarily in western and central New York, and northwestern Pennsylvania. As of September 30, 2021, the company also owned approximately 95,000 acres of timber property; and managed approximately 2,500 additional acres of timber cutting rights. National Fuel Gas Company was incorporated in 1902 and is headquartered in Williamsville, New York.

At a Glance

Live Snapshot
Market Cap$7.36B
EPS5.7300
P/E Ratio13.52
Earnings Date07/29/2026
3Y+35.0%
5Y+48.0%
10Y+87.0%
3Y+72.0%
5Y-27.0%
10Y+97.0%
3Y-26.0%
5Y-143.0%
10Y+71.0%
NFG

National Fuel Gas Company Cash Conversion Engine

NFG ยท NYSE
Net Income518.50M
Depreciation & Amortization456.59M
Stock-Based Compensation19.75M
Change in Working Capital-185.22M
Others169.12M
Capital Expenditures-912.82M
Free Cash Flow187.21M

Cash Flow Quality Analysis

FCF Conversion Rate

36.1%

Weak cash conversion. Significant portion of earnings not converting to cashโ€”review working capital trends and capital intensity.

CapEx Intensity

83.0%

Very high capital intensity consumes most operating cash flow. Limited flexibility for dividends or debt reduction.

FCF Growth Trend

+39.0%

Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.

Working Capital Impact

-$185.22M

Significant working capital drain. Growth may be consuming cash through inventory buildup or receivables extensionโ€”monitor closely.

Cash Flow Quality Insight

Capital-intensive growth: Heavy reinvestment limits current cash available but may drive future returns. Assess whether CapEx supports compelling growth opportunities with adequate ROI.

National Fuel Gas Company Cash Flow Statement

NFG โ€ข NYSE

National Fuel Gas Company Cash Flow StatementSep 2025Sep 2024Sep 2023Sep 2022Sep 2021Sep 2020Sep 2019Sep 2018Sep 2017Sep 2016Sep 2015Sep 2014Sep 2013Sep 2012Sep 2011Sep 2010Sep 2009Sep 2008Sep 2007Sep 2006
OPERATING ACTIVITIES
518.5M
77.5M
476.9M
566M
363.6M
-123.8M
304.3M
391.5M
283.5M
-291M
-379.4M
299.4M
260M
220.1M
258.4M
219.1M
100.7M
268.7M
337.5M
138.1M
456.6M
457M
409.6M
369.8M
335.3M
755.6M
275.7M
241M
224.2M
249.4M
336.2M
383.8M
326.8M
271.5M
226.5M
178.7M
173.4M
170.6M
170.8M
179.6M
121.3M
-2.6M
151.4M
104.4M
106M
54.3M
122.3M
-18.2M
118M
-246.8M
-357.6M
142.4M
167.9M
144.2M
164.3M
134.7M
-2.5M
72.5M
52.8M
-5.2M
19.8M
22.1M
20.6M
19.5M
17.1M
14.9M
21.2M
15.8M
12.3M
5.8M
3.2M
11.8M
12.4M
-985K
1.2M
13.2K
-5.9M
-16.3M
-13.7M
-6.5M
169.1M
543.5M
19.6M
714K
51.7M
6.5M
8.6M
16.1M
16.5M
968.7M
1.1B
9.4M
14.3M
-6.9M
-33.8M
5.6M
201.6M
6.8M
-146.8M
110.6M
(48.9M)
(4.1M)
(38.1M)
(16.7M)
(6.4M)
(0.0)
(0.0)
(31.8M)
(34.8M)
(34.2M)
(18.7M)
(40.9M)
(13.2M)
(474K)
(63.1M)
(31M)
(40.6M)
(103.2M)
(98M)
(54.4M)
-185.2M
-31.6M
159M
-247.9M
-82.2M
33.2M
-37.5M
-30.9M
30.1M
-97.1M
123.2M
62.6M
-42.8M
33M
62.1M
-78.4M
142.2M
-19.6M
-6.4M
54.8M
1.1B
1.1B
1.2B
812.5M
791.6M
740.8M
694.5M
615.3M
684.5M
589M
853.6M
909.4M
738.6M
660.8M
678.7M
459.7M
609.4M
482.8M
394.2M
471.4M
INVESTING ACTIVITIES
-912.8M
-931.2M
-1B
-811.8M
-751.7M
-1.2B
-788.9M
-584M
-450.3M
-581.6M
-1B
-914.4M
-703.5M
-1B
-837.6M
-455.8M
-309.9M
-397.7M
-276.7M
-294.2M
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(59.4M)
(53.8M)
-31.3M
(0.0)
(232.1M)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
-1.3M
(0.0)
(0.0)
(0.0)
0.0
0.0
10M
30M
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
21.1M
-2.7M
-112.5M
263.1M
118.5M
-1.2M
-10.2M
55.1M
27.8M
128.1M
-6.6M
6M
-2.5M
446K
59.2M
-251K
-4.8M
68.7M
-57.1M
-3.2M
-891.7M
-933.9M
-1.1B
-518.7M
-633.2M
-1.2B
-799.2M
-528.9M
-422.6M
-453.5M
-1B
-908.4M
-706M
-1B
-719M
-402.2M
-347.3M
-329M
-101.8M
-297.4M
FINANCING ACTIVITIES
-59.1M
-68M
-6.7M
-9.6M
-3.7M
161.6M
-8.9M
4.1M
7.8M
13.8M
10.5M
7.5M
5.4M
10.3M
-592K
26.1M
28.2M
-219.6M
-30.6M
23.3M
44.1M
102.6M
-24.2M
-98.5M
108.1M
467.8M
0.0
-271.5M
295.2M
0.0
359M
85.6M
74.4M
477.1M
-160M
0.0
147.8M
96.6M
-119.6M
-9.8M
-188.4M
-183.8M
-176.1M
-168.1M
-163.1M
-153.3M
-147.4M
-143.3M
-139.1M
-134.8M
-130.7M
-126.6M
-122.7M
-118.8M
-114.6M
-109.6M
-104.2M
-103.7M
-100.6M
-98.3M
-59.1M
-68M
-6.7M
-9.6M
-3.7M
(161.6M)
-8.9M
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(5.4M)
(10.3M)
-592K
(0.0)
(0.0)
-237M
-48.1M
(0.0)
0.0
0.0
0.0
0.0
0.0
0.0
55.2M
0.0
0.0
1.9M
9.1M
4.6M
675K
985K
-1.2M
13.2M
5.9M
16.3M
13.7M
-78.7M
-203.4M
-149.3M
-207M
-276.2M
-58.7M
476.1M
-101.1M
-410.6M
163.9M
-119.1M
247.9M
-28.9M
-42.2M
369.6M
-276.4M
-70.3M
77.7M
-210.4M
-237.1M
-163.4M
CASH FLOW SUMMARY
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-139K
1.4M
4.9M
-17.2M
-82.3M
17.6M
99.6M
-6.7M
-205.8M
-324.2M
427.3M
16.4M
76.7M
-28M
-9.6M
-5.9M
-316.7M
-12.9M
339.8M
-56.6M
55.2M
12M
38.2M
55.4M
137.7M
120.1M
20.5M
27.3M
233M
557.3M
130M
113.6M
36.9M
64.9M
74.5M
80.4M
397.2M
408.1M
68.2M
124.8M
69.6M
57.6M
43.2M
38.2M
55.4M
137.7M
120.1M
20.5M
27.3M
233M
557.3M
130M
113.6M
36.9M
64.9M
74.5M
80.4M
395.2M
408.1M
68.2M
124.8M
69.6M
187.2M
134.7M
227.2M
695K
39.8M
-481.6M
-94.5M
31.3M
234.2M
7.4M
-164.6M
-5M
35.1M
-376M
-160.3M
3.9M
299.5M
85M
117.5M
177.2M

SEC Filings

NFG - Filing history and reports

Filing TypeFiling DatePeriod EndingFiscal YearActions
8-K

8-K 2026

N/A

May 27, 2026
May 27, 2026
2026
8-K

8-K 2026

N/A

May 26, 2026
May 26, 2026
2026
10-Q

10-Q 2026 Q1

Q1

April 30, 2026
March 31, 2026
2026
8-K

8-K 2026

N/A

April 30, 2026
April 29, 2026
2026
8-K

8-K 2026

N/A

April 29, 2026
April 29, 2026
2026
8-K

8-K 2026

N/A

March 27, 2026
March 27, 2026
2026
8-K

8-K 2026

N/A

March 13, 2026
March 12, 2026
2026
8-K

8-K 2026

N/A

January 29, 2026
January 28, 2026
2026
10-Q

10-Q 2025 Q4

Q4

January 29, 2026
December 31, 2025
2025
8-K

8-K 2026

N/A

January 28, 2026
January 28, 2026
2026
Showing 1 to 10 of 595 filings