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National Fuel Gas Company (NFG) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

ENERGY · OIL & GAS INTEGRATED · DATA UPDATED 2026-08-14

National Fuel Gas Company (NFG) operates in the OIL & GAS INTEGRATED industry and is headquartered in Williamsville, United States with about 2,322 employees. Its market capitalization is roughly $8 billion. In the fiscal year ended 2025-09-30, NFG reported $2.3B in revenue and $519M in net income.

National Fuel Gas Company operates as a diversified energy company. It operates through Integrated Upstream and Gathering, Pipeline and Storage, and Utility segments. The Integrated Upstream and Gathering segment explores for, develops, and produces natural gas and oil.

Interactive charts & full statements → Open the NFG valuation workbench →

NFG Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30
Total Revenue	$2.5B	$2.3B	$1.9B	$2.2B	$2.2B	$1.7B	$1.5B	$1.7B	$1.6B	$1.6B	$1.5B	$1.8B	$2.1B	$1.8B	$1.6B	$1.8B	$1.8B	$2.1B	$2.4B	$2.0B	$2.2B
Gross Profit	$1.2B	$1.5B	$818M	$848M	$903M	$760M	$568M	$601M	$604M	$679M	$614M	$605M	$660M	$600M	$538M	$523M	$1.1B	$1.1B	$1.2B	$1.0B	$972M
Gross Margin %	49.0%	66.1%	42.0%	39.0%	41.3%	43.6%	36.7%	35.5%	37.9%	43.0%	42.2%	34.3%	31.2%	32.8%	33.1%	29.4%	62.6%	51.4%	48.5%	50.1%	43.4%
Operating Income (EBIT)	$1.0B	$813M	$210M	$755M	$815M	$640M	$30M	$512M	$520M	$594M	($417M)	($611M)	$570M	$518M	$448M	$441M	$440M	$228M	$486M	$396M	$356M
Operating Margin %	40.4%	35.7%	10.8%	34.7%	37.3%	36.7%	1.9%	30.2%	32.6%	37.6%	-28.7%	-34.7%	27.0%	28.3%	27.5%	24.8%	25.0%	11.1%	20.2%	19.4%	15.9%
Net Income	$675M	$519M	$78M	$477M	$566M	$364M	($124M)	$304M	$392M	$283M	($291M)	($379M)	$299M	$260M	$220M	$258M	$226M	$101M	$269M	$337M	$138M
Net Margin %	27.0%	22.8%	4.0%	21.9%	25.9%	20.9%	-8.0%	18.0%	24.6%	17.9%	-20.0%	-21.6%	14.2%	14.2%	13.5%	14.5%	12.8%	4.9%	11.2%	16.6%	6.2%
EBITDA	$1.5B	$1.3B	$683M	$1.2B	$1.2B	$960M	$318M	$772M	$740M	$788M	($153M)	($263M)	$967M	$854M	$728M	$727M	$642M	$417M	$681M	$567M	$535M
Earnings Per Share (EPS)	$7.21	$5.68	$0.84	$5.17	$6.15	$3.97	$-1.41	$3.51	$4.53	$3.30	$-3.43	$-4.50	$3.52	$3.08	$2.63	$3.09	$2.73	$1.25	$3.18	$3.96	$1.61
Shares Outstanding (M)	94M	91M	92M	92M	92M	92M	88M	87M	86M	86M	85M	84M	85M	84M	84M	84M	83M	81M	84M	85M	86M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NFG Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$537M	$858M	$652M	$456M	$532M	$730M	$549M	$372M
Gross Profit	$231M	$372M	$301M	$322M	$254M	$342M	$250M	$144M
Gross Margin %	43.1%	43.4%	46.2%	70.6%	47.8%	46.9%	45.5%	38.7%
Operating Income (EBIT)	$209M	$347M	$276M	$180M	$230M	$317M	$86M	($197M)
Operating Margin %	38.9%	40.4%	42.4%	39.4%	43.3%	43.5%	15.7%	-52.8%
Net Income	$139M	$248M	$182M	$107M	$150M	$216M	$45M	($168M)
Net Margin %	25.8%	28.8%	27.9%	23.5%	28.2%	29.6%	8.2%	-45.1%
EBITDA	$330M	$483M	$406M	$304M	$355M	$444M	$203M	($84M)
Earnings Per Share (EPS)	$1.47	$2.59	$1.98	$1.18	$1.64	$2.37	$0.49	$-1.84
Shares Outstanding (M)	94M	96M	92M	91M	91M	91M	91M	91M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NFG Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30
Cash from Operations (CFO)	$1.3B	$1.1B	$1.1B	$1.2B	$813M	$792M	$741M	$694M	$615M	$685M	$589M	$854M	$909M	$739M	$661M	$679M	$460M	$609M	$483M	$394M	$471M
Capital Expenditures (CapEx)	$1.1B	$913M	$931M	$1.0B	$812M	$752M	$1.2B	$789M	$584M	$450M	$582M	$1.0B	$914M	$703M	$1.0B	$838M	$456M	$310M	$398M	$277M	$294M
Free Cash Flow (FCF)	$222M	$187M	$135M	$227M	$1M	$40M	($482M)	($94M)	$31M	$234M	$7M	($165M)	($5M)	$35M	($376M)	($159M)	$4M	$300M	$85M	$117M	$177M
FCF Margin %	8.9%	8.2%	6.9%	10.4%	0.0%	2.3%	-31.1%	-5.6%	2.0%	14.8%	0.5%	-9.3%	-0.2%	1.9%	-23.1%	-8.9%	0.2%	14.6%	3.5%	5.8%	7.9%
Dividends Paid	$198M	$188M	$184M	$176M	$168M	$163M	$153M	$147M	$143M	$139M	$135M	$131M	$127M	$123M	$119M	$115M	$110M	$104M	$104M	$101M	$98M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NFG Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$377M	$382M	$275M	$238M	$388M	$254M	$220M	$198M
Capital Expenditures (CapEx)	$266M	$221M	$278M	$286M	$193M	$194M	$240M	$247M
Free Cash Flow (FCF)	$111M	$162M	($3M)	($48M)	$195M	$60M	($20M)	($49M)
FCF Margin %	20.6%	18.8%	-0.4%	-10.5%	36.7%	8.2%	-3.7%	-13.2%
Dividends Paid	$51M	$51M	$48M	$48M	$47M	$47M	$47M	$47M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NFG Balance Sheet History

Balance sheet	2026-06-30	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30
Total Assets	$10.5B	$8.7B	$8.3B	$8.3B	$7.9B	$7.5B	$7.2B	$6.5B	$6.0B	$6.1B	$5.6B	$6.7B	$6.7B	$6.2B	$5.9B	$5.3B	$5.1B	$4.8B	$4.1B	$3.9B	$3.8B
Cash & Cash Equivalents	$1.2B	$43M	$38M	$55M	$46M	$32M	$21M	$20M	$230M	$556M	$130M	$114M	$37M	$65M	$74M	$80M	$395M	$408M	$68M	$187M	$70M
Total Liabilities	$6.5B	$5.6B	$5.5B	$5.3B	$5.8B	$5.7B	$5.2B	$4.3B	$4.1B	$4.4B	$4.1B	$4.7B	$4.3B	$4.0B	$4.0B	$3.4B	$3.4B	$3.2B	$2.5B	$2.3B	$2.3B
Total Debt (Short + Long-Term)	$3.6B	$2.8B	$2.8B	$2.7B	$2.7B	$2.8B	$2.7B	$2.2B	$2.3B	$2.4B	$2.2B	$2.3B	$1.7B	$1.8B	$1.6B	$1.1B	$1.2B	$1.3B	$1.1B	$999M	$1.1B
Total Shareholders' Equity	$3.9B	$3.1B	$2.8B	$3.0B	$2.1B	$1.8B	$2.0B	$2.1B	$1.9B	$1.7B	$1.5B	$2.0B	$2.4B	$2.2B	$2.0B	$1.9B	$1.7B	$1.6B	$1.6B	$1.6B	$1.4B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive NFG viewer.

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