National Fuel Gas Co (NFG) stock analysis

P/E below its 5-year median

National Fuel Gas's P/E of 10.5 is below its own 5-year median of 12.0.

P/E below the industry

National Fuel Gas's P/E of 10.5 is below the Gas Production and Distribution median of 17.3.

EV/EBITDA below its 5-year median

National Fuel Gas's EV/EBITDA of 6.4 is below its 5-year median of 7.6.

P/S above the industry

National Fuel Gas's price-to-sales of 2.86 is above the Gas Production and Distribution median of 2.68 (book value is negative, so we use sales).

Trading below fair value

The share price of $75.69 is below our fair value estimate of $114.28.

Margin of safety over 20%

The price is 33.8% below fair value, more than the 20% cushion we look for.

Revenue growing under 10% a year

Revenue grew 1.4% a year over the last three fiscal years, short of the 10% we look for.

EPS growing under 10% a year

Diluted EPS grew -2.6% a year over the last three fiscal years.

Earnings acceleration

Needs positive net income now, a year ago and five years ago.

Growing faster than the industry

Revenue grew 15.1% over the last twelve months; the Gas Production and Distribution median is 13.6%.

Guidance raised

National Fuel Gas raised its Updated FY 2026 Guidance Pipeline and Storage Segment Revenues outlook on Jul 30, 2026.

Gross margin trend

This company does not report gross profit.

Return on equity

Needs positive equity and five years of results.

Return on invested capital

Needs operating income and invested capital.

Return on equity against the industry

Needs positive equity.

Earnings over 5 years

Needs positive net income five years ago and in the latest year.

Net margin above its 5-year average

Net margin was 26.9% over the last twelve months, against a 5-year average of 19.1%.

Net margin above the industry

National Fuel Gas's net margin of 26.9% is above the Gas Production and Distribution median of 13.1%.

Debt level

Needs debt and equity figures.

Debt trend

Needs a balance sheet from five years ago with positive equity.

Debt covered by cash flow

Operating cash flow over the last twelve months equals 35.7% of total debt.

Interest well covered

Operating income covers interest expense 6.8 times.

Short-term assets cover short-term debts

Current assets are 3.20 times current liabilities.

Elevated bankruptcy risk

The Altman Z-score is 1.67; above 3 is the safe zone and below 1.8 the distress zone.

Pays a dividend

National Fuel Gas paid dividends worth 2.9% of the share price over the last twelve months.

Yield below Treasuries

The 2.9% yield is below the 4.4% on a 1-year Treasury.

Yield below the top quarter

The top quarter of US dividend payers yield 3.8% or more; National Fuel Gas yields 2.9%.

Dividend not cut

The dividend per share has not fallen by more than 10% in any of the last 10 fiscal years.

Covered by earnings

Dividends take 29.4% of net income.

Covered by free cash flow

Dividends take 89.2% of free cash flow.