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National Fuel Gas vs Venture Global: revenue, profit, margins and growth compared

National Fuel Gas brought in $2.3B of revenue in fiscal 2025, Venture Global $13.8B in fiscal 2025. Revenue changed by +17.1% at National Fuel Gas and +176.9% at Venture Global on the year before, so Venture Global grew faster. National Fuel Gas kept 22.8% of its revenue as net profit, Venture Global 16.4%. Free cash flow was $187.2M at National Fuel Gas and -$6.8B at Venture Global.

Side by side, latest fiscal year

NFGVG
Fiscal year endedFY2025 (September 30, 2025)FY2025 (December 31, 2025)
Revenue$2.3B$13.8B
Revenue growth+17.1%+176.9%
Net income$518.5M$2.3B
Net margin22.8%16.4%
Free cash flow$187.2M-$6.8B
Free cash flow margin8.2%-49.4%
Earnings per share (diluted)$5.68$0.86
Cash$43.2M$2.4B
Debt$2.7B$34.2B
Price to earnings13.914.7
Market value$7.5B$31.6B
Dividend yield2.66%0.24%
Rank by revenue in sector#56 of 109 · Utilities#23 of 109 · Utilities

Over the years

Revenue
NFG FY2018: $1.6BNFG FY2019: $1.7BNFG FY2020: $1.5BNFG FY2021: $1.7BNFG FY2022: $3.1BNFG FY2023: $2.3BNFG FY2024: $1.9BNFG FY2025: $2.3BVG FY2023: $7.9BVG FY2025: $5BVG FY2025: $13.8BFY18FY19FY20FY21FY22FY23FY24FY25
NFG $2.3BVG $13.8B
Net income
NFG FY2018: $391.5MNFG FY2019: $304.3MNFG FY2020: -$123.8MNFG FY2021: $363.6MNFG FY2022: $566MNFG FY2023: $476.9MNFG FY2024: $77.5MNFG FY2025: $518.5MVG FY2023: $2.7BVG FY2025: $1.5BVG FY2025: $2.3BFY18FY19FY20FY21FY22FY23FY24FY25
NFG $518.5MVG $2.3B
Net margin
NFG FY2018: 24.6%NFG FY2019: 18.0%NFG FY2020: -8.0%NFG FY2021: 20.9%NFG FY2022: 18.5%NFG FY2023: 21.1%NFG FY2024: 4.0%NFG FY2025: 22.8%VG FY2023: 33.9%VG FY2025: 29.7%VG FY2025: 16.4%FY18FY19FY20FY21FY22FY23FY24FY25
NFG 22.8%VG 16.4%
Revenue growth
NFG FY2019: +6.3%NFG FY2020: -8.7%NFG FY2021: +12.7%NFG FY2022: +75.7%NFG FY2023: -26.3%NFG FY2024: -13.8%NFG FY2025: +17.1%VG FY2025: -37.0%VG FY2025: +176.9%FY19FY20FY21FY22FY23FY24FY25
NFG +17.1%VG +176.9%
Free cash flow
NFG FY2018: $31.3MNFG FY2019: -$94.5MNFG FY2020: $24.7MNFG FY2021: $39.8MNFG FY2022: $695KNFG FY2023: $227.2MNFG FY2024: $134.7MNFG FY2025: $187.2MVG FY2023: -$3.5BVG FY2025: -$11.6BVG FY2025: -$6.8BFY18FY19FY20FY21FY22FY23FY24FY25
NFG $187.2MVG -$6.8B

Fiscal years as each company reports them; the two may end in different months.

Questions about National Fuel Gas and Venture Global

Which is bigger by revenue, National Fuel Gas or Venture Global?

Venture Global is bigger by revenue: $13.8B in fiscal 2025, against $2.3B for National Fuel Gas in fiscal 2025.

Which keeps more of its revenue as profit, National Fuel Gas or Venture Global?

National Fuel Gas had a net margin of 22.8% in fiscal 2025; Venture Global had 16.4% in fiscal 2025.

Which grew revenue faster, National Fuel Gas or Venture Global?

In their latest fiscal years revenue changed by +17.1% at National Fuel Gas and +176.9% at Venture Global.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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