National Fuel Gas Co (NFG)
National Fuel Gas Co brought in $2.6B of revenue over the twelve months to June 30, 2026, up 17.0% from a year earlier. Net income was $675.3M, a net margin of 26.4%. Operating cash flow minus capital spending left $187.2M of free cash flow in fiscal 2025. At June 30, 2026 it held $1.2B in cash against $3.6B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on July 30, 2026.
Key facts about National Fuel Gas Co
- Net worth
- National Fuel Gas Co has a market value (market cap) of $7.1B at the latest share price, and shareholders' equity of $3.9B on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $2.3B (+17.1% year on year), with net income of $518.5M. Over the 12 months to June 30, 2026: revenue $2.6B, net income $675.3M.
- Cash flow
- In fiscal 2025 operations brought in $1.1B of cash; after $912.8M of capital spending, free cash flow was $187.2M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on July 30, 2026 and covers the period to June 30, 2026. Open on SEC EDGAR
- Next earnings report
- National Fuel Gas Co's next report is expected around January 28, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- National Fuel Gas Co declared dividends of $2.10 per share in fiscal 2025, a yield of 2.81% at the current price.
What National Fuel Gas Co does
National Fuel Gas Co is registered with the SEC under industry code SIC 4924 (Natural Gas Distribution). Its shares trade on NYSE under the ticker NFG.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $2.3B | $518.5M | $5.68 | $187.2M |
| 2024 | $1.9B | $77.5M | $0.84 | $134.7M |
| 2023 | $2.3B | $476.9M | $5.17 | $227.2M |
| 2022 | $3.1B | $566M | $6.15 | $695K |
| 2021 | $1.7B | $363.6M | $3.97 | $39.8M |
| 2020 | $1.5B | -$123.8M | -$1.41 | $24.7M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where NFG ranks in Utilities
Dividends
National Fuel Gas Co declared $2.10 per share in fiscal 2025. At the current price that is a yield of 2.81%. It paid out $188.4M in cash dividends, 36% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $2.10 | $188.4M | 36% |
| 2024 | $2.02 | $183.8M | 237% |
| 2023 | $1.94 | $176.1M | 37% |
| 2022 | $1.86 | $168.1M | 30% |
| 2021 | $1.80 | $163.1M | 45% |
| 2020 | $1.76 | $153.3M | n/a |
Latest SEC filings
What National Fuel Gas Co has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 5, 2026
- November 4, 2026
- October 30, 2026
- October 14, 2026
- October 1, 2026Acquisition or sale completed8-KNational Fuel Gas Company completed its acquisition of CenterPoint Energy's Ohio natural gas utility for $2.62 billion.
- August 11, 2026Other event 8-K
- August 11, 2026
- July 30, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 1.1% to $537.5M versus the same quarter last year; diluted EPS $1.45 versus $1.64.
- July 30, 2026
- July 29, 2026
What is NFG worth? A DCF from its reported cash flow
Insider trades
What the people running National Fuel Gas Co did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 22 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| October 1, 2026 | Shaw Jeffrey WDirector | Received as pay | 577 | $43.8K |
| October 1, 2026 | Baumann Barbara MDirector | Received as pay | 577 | $43.8K |
| October 1, 2026 | Tanski Ronald JDirector | Received as pay | 577 | $43.8K |
| October 1, 2026 | Jaggers Joseph NDirector | Received as pay | 577 | $43.8K |
| September 16, 2026 | Bauer David PPresident and CEO, Director | Received as pay | 5,088 | - |
| September 16, 2026 | Bauer David PPresident and CEO, Director | Shares withheld for tax | 181 | $14.8K |
| September 16, 2026 | Bauer David PPresident and CEO, Director | Other change | 4,907 | - |
| September 16, 2026 | Krebs Martin AChief Information Officer | Received as pay | 478 | - |
Who owns NFG
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Vanguard Portfolio Management13G, passive | 8.24% | April 29, 2026 |
| Vanguard Capital Management13G, passive | 5.21% | April 30, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 652 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BlackRock, Inc. | 9,695,230 | +538,725 |
| Vanguard Portfolio Management LLC | 8,030,342 | +206,913 |
| Vanguard Capital Management LLC | 4,284,248 | +37,285 |
| State Street Corp | 4,198,608 | +328,036 |
| Energy Income Partners, LLC | 2,995,843 | +406,019 |
| Gabelli Funds LLC | 2,326,363 | -5,500 |
| Aqr Capital Management LLC | 1,969,955 | +767,874 |
| Geode Capital Management, LLC | 1,964,373 | +20,836 |
| Yaupon Capital Management LP | 1,559,618 | +516,346 |
| Gamco Investors, Inc. ET AL | 1,370,347 | +1,021 |
| Morgan Stanley | 1,367,831 | +129,789 |
| Blackstone Inc. | 1,235,399 | +648,815 |
| Dimensional Fund Advisors LP | 1,215,038 | +37,080 |
| Norges Bank | 1,091,535 | new |
| First Trust Advisors LP | 1,067,005 | -5,482 |
| Equity Investment Corp | 1,012,957 | -10,571 |
| Charles Schwab Investment Management Inc | 986,838 | +9,497 |
| Invesco Ltd. | 969,887 | +83,870 |
| Victory Capital Management Inc | 959,280 | -264,281 |
| Northern Trust Corp | 932,396 | -2,922 |
Insiders
15 insiders reported holding 725,741 shares in total, about $54.2M at the last price.
| Holder | Shares |
|---|---|
| Tanski Ronald JDirector | 358,674 |
| Loweth Justin IPres - Seneca Resources | 76,757 |
| Bauer David PPresident and CEO, Director | 72,047 |
| Shaw Jeffrey WDirector | 37,375 |
| Jaggers Joseph NDirector | 35,091 |
| Carroll David C.Director | 31,018 |
| Baumann Barbara MDirector | 22,900 |
| Ranich RebeccaDirector | 18,150 |
| Hartz Lee ESecretary and General Counsel | 17,424 |
| Del Vecchio Joseph NPresident, NFG Supply Corp. | 16,017 |
Questions about NFG
What does National Fuel Gas Co do?
National Fuel Gas Co is a company in the Utilities sector, listed on NYSE as NFG. Its shares trade on NYSE under the ticker NFG.
What is National Fuel Gas Co's net worth?
National Fuel Gas Co has a market value (market cap) of $7.1B at the latest share price, and shareholders' equity of $3.9B on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is National Fuel Gas Co profitable?
Yes. Over the twelve months to June 30, 2026 it reported net income of $675.3M on revenue of $2.6B, a net margin of 26.4%.
How much revenue does National Fuel Gas Co make?
Over the twelve months to June 30, 2026 National Fuel Gas Co reported revenue of $2.6B. That is 17.0% more than a year earlier.
When did National Fuel Gas Co last report?
Its most recent periodic report is the quarterly report (10-Q) filed on July 30, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the quarterly results from November 5, 2026.
When is National Fuel Gas Co's next earnings report?
National Fuel Gas Co's next report is expected around January 28, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
Does National Fuel Gas Co pay a dividend?
Yes. National Fuel Gas Co declared dividends of $2.10 per share in fiscal 2025, a yield of 2.81% at the current price.
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Where the numbers come from
Financial figures are the values National Fuel Gas Co tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.