National Fuel Gas Company
Research National Fuel Gas Company (NFG) on Bullrun: valuation model: 18.5% undervalued, market cap USD 7.81B, P/E 11.4, dividend yield 2.6%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerNFG
- ExchangeNYSE
- CountryUnited States
- SectorEnergy
- IndustryOil & Gas Integrated
- CurrencyUSD
- Valuation signal18.5% undervalued
- Market capUSD 7.81B
- P/E11.4
- Dividend yield2.6%
- Financial periodQ2 2026
- RevenueUSD 537.50M
- Net incomeUSD 138.62M
- Free cash flowUSD 111.01M
- Gross margin43.1%
Valuation Snapshot
Bullrun's latest valuation model marks National Fuel Gas Company as 18.5% undervalued; latest market cap is USD 7.81B; P/E is 11.4; dividend yield is 2.6%.
Peer valuation comparison
Latest P/E is 11.43x versus a Energy sector median of 14.75x (22.5% below).
Latest dividend yield is 2.61% versus a Energy sector median of 3.8% (31.3% below).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 2.22B | USD 518.50M | USD 187.21M | 90.4% | 5.68 | USD 43.17M | USD 2.68B | USD 3.09B |
| FY2024 | USD 1.71B | USD 77.51M | USD 134.73M | 91.2% | 0.84 | USD 38.22M | USD 2.69B | -USD 15.48M |
| FY2023 | USD 2.25B | USD 476.87M | USD 227.21M | 80.6% | 5.17 | USD 55.45M | USD 2.38B | -USD 55.06M |
| FY2022 | USD 3.06B | USD 566.02M | USD 695.00K | 87.2% | 6.15 | USD 46.05M | USD 2.63B | -USD 625.73M |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 7.81B | 11.4 | 2.6% | 2.17 |
| 2025 | 2025-12-31 | USD 7.61B | 11.2 | 2.7% | 2.14 |
| 2024 | 2024-12-31 | USD 5.50B | n/a | 3.4% | 2.06 |
| 2023 | 2023-12-29 | USD 4.62B | 9.7 | 3.9% | 1.98 |
| 2022 | 2022-12-30 | USD 5.81B | 10.3 | 3.0% | 1.9 |
| 2021 | 2021-12-31 | USD 5.85B | 14.1 | 2.9% | 1.83 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 2.17 USD, yield 2.6%.
| Year | Dividends/share |
|---|---|
| FY2025 | 2.1 USD |
| FY2024 | 2.02 USD |
| FY2023 | 1.94 USD |
| FY2022 | 1.86 USD |
About National Fuel Gas Company
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. It also builds, owns, and operates gathering facilities in the Appalachian region, as well as provides gathering services to Seneca.
Related stock research
Other Energy stocks
Frequently asked questions
Is National Fuel Gas Company overvalued or undervalued?
Bullrun's valuation model currently marks National Fuel Gas Company as 18.5% undervalued.
What is National Fuel Gas Company's market cap?
National Fuel Gas Company's market capitalization is USD 7.81B.
What is National Fuel Gas Company's P/E ratio?
National Fuel Gas Company's price-to-earnings (P/E) ratio is 11.4.
Does National Fuel Gas Company pay a dividend?
National Fuel Gas Company has a dividend yield of 2.6%.
What does National Fuel Gas Company do?
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. It also builds, owns, and operates gathering facilities in the Appalachian region, as well as provides gathering services to Seneca.