Stocks · Energy · Oil & Gas Integrated

National Fuel Gas Company NFG

$76.43 +0.22% Close, Oct 2, 2026 · NYSE · Market cap $7.26B

Weak trendLow risk

Next earnings report: Nov 4, 2026

Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.

Three things to know

  1. Diluted EPS over the last four quarters was $7.20, up 170.7% year over year.
  2. Operating margin widened to 40.4% from 20.0% a year earlier.
  3. The stock is in a downtrend: below its 200-day average, with the 50-day average below the 200-day.

PromtFinance scores

Each score is a percentile within the Energy sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.

Growth64Neutral

How fast revenue, earnings and cash flow are growing.

  • Revenue growth (TTM, YoY)Top 40%
  • EPS growth (TTM, YoY)Top 13%
  • FCF growth (TTM, YoY)Top 44%
  • Revenue growth, 3-year CAGRTop 47%
  • Revenue growth accelerationBottom 15%
Quality67Positive

Returns on capital, margins, earnings quality and balance-sheet strength.

  • Return on invested capitalTop 46%
  • Gross marginTop 29%
  • Operating marginTop 15%
  • Cash conversion (OCF / net income)Bottom 44%
  • Accruals (lower is better)Bottom 37%
  • Net debt / EBITDA (lower is better)Bottom 47%
  • Interest coverTop 36%
Value71Positive

How cheap the shares are relative to earnings, cash flow and their own history.

  • Earnings yieldTop 21%
  • Free-cash-flow yieldBottom 41%
  • EBITDA / enterprise valueTop 24%
  • Sales / enterprise valueBottom 27%
  • P/E vs own 5-year history (lower is better)Top 17%
Momentum20Very weak

Strength and persistence of the price trend, including versus the S&P 500.

  • 12-month return excluding last monthBottom 14%
  • 6-month returnBottom 25%
  • 1-year return vs S&P 500Bottom 18%
  • Distance from 52-week highBottom 47%
  • Trend checklist (0–4)Bottom 18%
Revisions31Weak

Earnings surprises and analyst sentiment (estimate-revision history is being collected).

  • Average EPS surprise, last 4 quartersBottom 45%
  • Consecutive EPS beatsTop 50%
  • Share of analysts rating BuyBottom 40%
  • Upside to consensus price targetBottom 30%
Stability94Exceptional

Low volatility, shallow drawdowns, low market sensitivity and modest leverage.

  • Volatility, 60 days (lower is better)Top 7%
  • Maximum drawdown, 3 yearsTop 6%
  • Beta vs S&P 500 (lower is better)Top 9%
  • Net debt / EBITDA (lower is better)Bottom 47%

What changed

Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).

MeasureBeforeNow
Revenue growth (YoY)20.7%14.7%↓
EPS growth (YoY)1618.6%170.7%↓
Gross margin45.4%49.0%↑
Operating margin20.0%40.4%↑
FCF margin8.5%8.9%↑

Fundamental momentum

MeasureNow (TTM)Year / quarter beforeSector rank
Revenue growth (TTM, YoY)14.7%20.7%↓Top 40%
EPS growth (TTM, YoY)170.7%1618.6%↓Top 13%
Gross margin49.0%45.4%↑Top 29%
Operating margin40.4%20.0%↑Top 15%
Net margin27.0%11.2%↑—
Free-cash-flow margin8.9%8.5%↑—
Return on invested capital7.6%—Top 46%
Revenue growth, 3-year CAGR1.4%—Top 47%

Quality of earnings and balance sheet

Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
1.88×
Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
-5.7%
Stock-based compensation / revenueA cost to shareholders through dilution.
0.8%
Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
-13.2 pp
Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
1.53×
Interest cover (operating income / interest)How many times operating profit covers interest.
6.8×

Shareholder returns

Dividend yield (dividends paid, TTM)
2.73%
Net buyback yield (TTM)
-14.00%
Shareholder yield
-11.27%
Share count change, 1 year
+3.6%
Share count change, 3-year CAGR
+0.8%

Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.

Based on the four quarters through Jun 30, 2026 (filed Jul 30, 2026).

Earnings and expectations

Earnings momentum

Consecutive EPS beats
1
Beats in the last 8 reports
6 of 8
Average EPS surprise, last 4
+4.9%
Average 2-day reaction, last 8
+0.0%
Positive 20 days after report
6 of 8

Analysts

Consensus price target
$88.50
Target vs current price
+15.8%
Analysts with a rating
18
Share rating Buy or Strong Buy
50%
Consensus rating
Buy

How the stock reacted to recent reports

Report dateEPS surprise2 days5 days20 days60 days
Jul 29, 2026+6.9%-0.6%+0.2%+0.9%—
Apr 29, 2026-4.9%-1.3%-8.0%-12.2%-7.5%
Jan 28, 2026+7.9%-0.1%+0.3%+6.4%+7.2%
Nov 5, 2025+9.9%-1.1%-0.2%+2.9%+3.4%
Jul 30, 2025+9.3%+0.6%-1.2%-1.1%-6.3%
Apr 30, 2025+9.6%-1.1%+5.7%+5.6%+11.4%
Jan 29, 2025+5.7%+0.6%+6.5%+8.4%+14.6%
Nov 6, 2024-7.2%+3.1%+1.2%+2.5%+19.7%

Returns from the close before each report. Past reactions do not determine future ones.

Earnings history

Report dateEPSEstimateSurpriseRevenue
Jul 29, 2026$1.54$1.44+6.9%$537.5M
Apr 29, 2026$2.71$2.85-4.9%$858.4M
Jan 28, 2026$2.06$1.91+7.9%$651.5M
Nov 5, 2025$1.22$1.11+9.9%$456.4M
Jul 30, 2025$1.64$1.50+9.3%$531.8M
Apr 30, 2025$2.39$2.18+9.6%$730.0M
Jan 29, 2025$1.66$1.57+5.7%$549.5M
Nov 6, 2024$0.77$0.83-7.2%$372.1M

Valuation in context

MultipleNow5-year median5-year percentileSector rank (cheapness)
P/E (trailing)10.6×12.4×30thTop 21%
P/E (forward)10.5×———
EV / EBITDA6.3×——Top 24%
EV / Sales3.83×——Bottom 27%
Free-cash-flow yield3.06%——Bottom 41%
Earnings yield9.42%——Top 21%

P/E over the past five years

Range 8.4× – 184.2× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.

What moved the stock over the past year

Price return, 1 year
-17.3%
Earnings per share growth (TTM)
+170.7%
Change in P/E multiple
-64.9%

Most of the move came from a change in the valuation multiple.

Technical state

Trend checklist

  • ✗ Price above 20-day average
  • ✗ Price above 50-day average
  • ✗ Price above 200-day average
  • ✗ 50-day average above 200-day
  • ✗ MACD histogram positive

Trend quality

Days above the 50-day average
0
Days above the 200-day average
0
50-day average slope (20 days)
+0.1%
200-day average slope (20 days)
-0.2%
Distance from 50-day average
-6.0%
Distance from 200-day average
-8.5%
RSI (14)
31.3
Relative volume
1.25×

Risk and drawdowns

Volatility, 60 days (annualized)
19.0%
Volatility vs own 5-year history
18th percentile · Low for this stock
Beta vs S&P 500 (2 years, weekly)
0.04
Correlation with S&P 500
0.03
Current drawdown from 1-year high
-20.6%
Maximum drawdown, 3 years
-21.2%

Largest declines in the past six years

From peakTo lowDeclineLengthRecovery
Jun 7, 2022Feb 5, 2024-39.5%417 days277 days (Mar 14, 2025)
Mar 13, 2026Sep 30, 2026-21.2%138 daysNot yet recovered
Sep 26, 2025Nov 6, 2025-16.8%29 days85 days (Mar 12, 2026)
Oct 22, 2020Nov 6, 2020-11.5%11 days12 days (Nov 24, 2020)

Declines of 10% or more from a closing high, measured on daily closes.

Financial statements

Market cap
$7.26B
P/E (TTM)
10.6
EPS, diluted (TTM)
$7.20
Revenue (TTM)
$2.50B
Dividend yield
2.85%
52-week range
$75.03 – $97.06
FY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$1.74B$2.19B$2.17B$1.94B$2.28B
Gross profit$759.7M$903.0M$847.8M$817.7M$1.51B
Operating income$639.9M$814.5M$755.1M$209.7M$813.5M
Net income$363.6M$566.0M$476.9M$77.5M$518.5M
EPS (diluted)$3.97$6.15$5.17$0.84$5.68
Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Revenue$372.1M$549.5M$730.0M$531.8M$456.4M$651.5M$858.4M$537.5M
Net income-$167.6M$45.0M$216.4M$149.8M$107.3M$181.6M$247.7M$138.6M
EPS (diluted)-$1.84$0.49$2.37$1.64$1.18$1.98$2.59$1.45
FY 2021FY 2022FY 2023FY 2024FY 2025
Operating cash flow$791.6M$812.5M$1.24B$1.07B$1.10B
Capital expenditure-$751.7M-$811.8M-$1.01B-$931.2M-$912.8M
Free cash flow$39.8M$695,000$227.2M$134.7M$187.2M
Dividends paid-$163.1M-$168.1M-$176.1M-$183.8M-$188.4M
Net share buybacks-$3.7M-$9.6M-$6.7M-$68.0M-$59.1M

Cash outflows are shown as negative numbers.

Cash and short-term investments
$1.24B
Total assets
$10.45B
Total liabilities
$6.53B
Total debt
$3.57B
Net debt
$2.33B
Shareholders’ equity
$3.92B

As of Jun 30, 2026 (filed Jul 30, 2026).

Dividends

Ex-dateAmountPaid
Sep 30, 2026$0.56Oct 15, 2026
Jun 30, 2026$0.56Jul 15, 2026
Mar 31, 2026$0.54Apr 15, 2026
Dec 31, 2025$0.54Jan 15, 2026
Sep 30, 2025$0.54Oct 15, 2025
Jun 30, 2025$0.54Jul 15, 2025
Mar 31, 2025$0.52Apr 15, 2025
Dec 31, 2024$0.52Jan 15, 2025

Short interest

Shares sold short
5,068,195
Days to cover
10.66
Change vs previous report
+3.0%

FINRA short interest, settlement date Sep 15, 2026.

Stock splits

Sep 10, 2001
2-for-1
Jun 17, 1987
2-for-1
May 25, 1984
11-for-10