profit from every $100 of sales.
$0$100
National Fuel Gas
$75.69+1.38% today
-5.5% in 1 year
1-year low $73.431-year high $96.30
Trading close to its lowest price of the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2020 to 2025.
0%20% a year
You pay $13.88 for every $1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What National Fuel Gas sold, what it kept, and what it did with the cash.
Sales went from $2.19 billion in 2022 to $2.28 billion in 2025, with $519 million of profit last year.
SalesProfit
National Fuel Gas handed back more cash to shareholders than it generated last year.
$188M
Free cash flow 2025$187M
Bought back its own shares$59M
Paid as dividends$188M
Cash vs. debt$43M vs. $2.8B
National Fuel Gas vs. similar companies
National Fuel Gas grows in the middle of these 5 and is priced in the middle for its profits.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| National Fuel Gas | 13.9× · Cheap | ||
 Saudi Arabian Oil | 18.1× · Fair price | ||
 Exxon Mobil | 23.6× · Fair price | ||
 Chevron | 33.8× · Expensive | ||
 PetroChina | 13.9× · Cheap |
AI analysis
An AI analyst reads National Fuel Gas's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| 1,546 | 1,743 | 2,186 | 2,174 | 1,945 | 2,278 | |
| – | – | 903 | 848 | 818 | 1,050 | |
| – | – | 802 | 755 | 729 | 955 | |
| 318 | 960 | 1,183 | 1,183 | 683 | 1,306 | |
| -124 | 364 | 566 | 477 | 78 | 519 | |
| -1.41 | 3.97 | 6.15 | 5.17 | 0.84 | 5.68 | |
| – | – | 41.3% | 39.0% | 42.0% | 46.1% | |
| – | – | 36.7% | 34.7% | 37.5% | 41.9% | |
| -8.0% | 20.9% | 25.9% | 21.9% | 4.0% | 22.8% |
Balance sheet
| In millions of USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Total assets | 6,965 | 7,465 | 7,896 | 8,280 | 8,320 | 8,719 |
| Cash | 21 | 32 | 46 | 55 | 38 | 43 |
| Total debt | 2,660 | 2,787 | 2,692 | 2,672 | 2,779 | 2,833 |
| Total liabilities | – | – | 5,816 | 5,317 | 5,471 | 5,625 |
| 1,972 | 1,786 | 2,080 | 2,963 | 2,848 | 3,095 | |
| 88 | 92 | 92 | 92 | 92 | 91 | |
| 0.2% | 10.8% | 13.5% | 10.8% | 3.2% | 11.3% | |
| -6.3% | 20.4% | 27.2% | 16.1% | 2.7% | 16.8% |
Cash flow
| In millions of USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| 741 | 792 | 813 | 1,237 | 1,066 | 1,100 | |
| 716 | 752 | 812 | 1,010 | 931 | 913 | |
| 25 | 40 | 1 | 227 | 135 | 187 | |
| Dividends paid | 153 | 163 | 168 | 176 | 184 | 188 |
| – | – | 10 | 7 | 68 | 59 | |
| 15 | 17 | 20 | 21 | 22 | 20 |
Valuation
- 13.9×
- 9.8×
- –
- 2.0×
- 3.2×
- 38.4×
- 7.6×
- 2.6%
- 7.2%
- 2.6%
Profitability
- 46.1%
- 41.9%
- 22.8%
- 61.3%
- 8.9%
- 7.7%
- 20.4%
- 7.5%
- 12.4%
- –
Growth
- +8.1%
- –
- +39.0%
- +3.7%
- −0.2%
Financial health
- 1.6×
- 0.63
- 26.6%
- 6.9×
- 0.62
- 0.62
- 0.27
How it ranks in Energy
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 41%of 467
Top 8%of 466
Top 37%of 386
Top 32%of 460
Bottom 35%of 459
What analysts expect
- Average price target
- $101.00
- Range
- $101.00 – $101.00
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| Apr 29, 2026 | 2.71 | 2.85 | −4.9% |
| Jan 28, 2026 | 2.06 | 1.91 | +7.9% |
| Nov 5, 2025 | 1.22 | 1.11 | +9.9% |
| Jul 30, 2025 | 1.64 | 1.50 | +9.3% |
| Apr 30, 2025 | 2.39 | 2.18 | +9.6% |
| Jan 29, 2025 | 1.66 | 1.57 | +5.7% |
| Nov 6, 2024 | 0.77 | 0.83 | −7.2% |
| Jul 31, 2024 | 0.99 | 0.92 | +7.6% |
2.6%of the share price, paid each year
On $1,000 invested$26a year at today's yield, before tax
+3.7%2020 to 2025
Raised10 yearsin a row, in our data
Paid per share, each year
$1.57 in 2015 → $2.12 in 2025
How safe it looks
36.3% of its profit
Room to growStretchedMore than it earns: 100.7%
News
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Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
2/7Passes 2 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
52No pass
Benjamin Graham
65Pass
Philip Fisher
59No pass
Peter Lynch
69Pass
Joel Greenblatt
46No pass
Charlie Munger
51No pass
Terry Smith
41No pass
Questions about National Fuel Gas
Is National Fuel Gas a good stock to buy?
A strong, very profitable business, and the price looks low. 2 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the National Fuel Gas AI analysis
What does National Fuel Gas do?
National Fuel Gas Company operates as a diversified energy company. It operates through four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. It is in Oil & Gas Integrated, based in Williamsville, NY, United States, with 2,322 employees.
Does National Fuel Gas pay a dividend?
Yes. At today's price the dividend is 2.6% a year, about 36% of its yearly profit. In 2025 it paid out $188 million in dividends.
Is National Fuel Gas stock halal?
No. National Fuel Gas does not pass our halal screen: its debt is 39% of its market value, at or above the 33% limit. How we check
How has National Fuel Gas stock done over the past year?
Down 5.5% over the past twelve months, to $75.69. It traded between $73.43 and $96.30 and is 21.4% below its high.
Who are National Fuel Gas's competitors?
The largest listed companies in the same industry are Saudi Arabian Oil, Exxon Mobil, Chevron and PetroChina. The peers table on this page compares their profit, growth and price with National Fuel Gas's.
Prices: daily closes to Nov 11, 2026. Fundamentals: company reports via invest-like data.