Revenue
$2.28B
Fiscal year ended 2025-09-30Operating income
$813.46M
Fiscal year ended 2025-09-30Free cash flow
$187.21M
Fiscal year ended 2025-09-30NATIONAL FUEL GAS CO (NFG) reported revenue of $2.28B and net income of $518.50M for the fiscal year ended 2025-09-30. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from NATIONAL FUEL GAS CO’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Natural Gas Distribution.
Income
| Metric | 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.28B | $1.94B | $2.17B | $2.19B | $1.74B | $1.55B | $1.69B | $1.59B | $1.58B | $1.45B |
| Cost of revenue | $213.44M | $150.06M | $437.60M | $392.09M | $171.83M | $233.89M | $386.26M | $337.82M | Unavailable | Unavailable |
| Gross profit | $2.06B | $1.79B | $1.74B | $1.79B | $1.57B | $1.31B | $1.31B | $1.25B | Unavailable | Unavailable |
| Operating income | $813.46M | $209.72M | $755.15M | $814.52M | $639.92M | $29.86M | $511.81M | $519.72M | $593.78M | -$416.52M |
| Net income | $518.50M | $77.51M | $476.87M | $566.02M | $363.65M | -$123.77M | $304.29M | $391.52M | $283.48M | -$290.96M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 91.23M | shares 92.34M | shares 92.29M | shares 92.11M | shares 91.68M | shares 87.97M | shares 86.77M | shares 86.44M | shares 86.02M | shares 84.85M |
| Pretax income | $694.05M | $87.26M | $641.40M | $682.65M | $478.33M | -$105.03M | $389.51M | $384.03M | $444.16M | -$523.51M |
| Income tax expense | $175.55M | $9.74M | $164.53M | $116.63M | $114.68M | $18.74M | $85.22M | -$7.49M | $160.68M | -$232.55M |
| Diluted EPS | $5.68 | $0.84 | $5.17 | $6.15 | $3.97 | $-1.41 | $3.51 | $4.53 | $3.30 | $-3.43 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | $75.06M | $70.93M | $65.83M | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $43.17M | $38.22M | $55.45M | $46.05M | $31.53M | $20.54M | $20.43M | $229.61M | $555.53M | $129.97M |
| Total assets | $8.72B | $8.32B | $8.28B | $7.90B | $7.46B | $6.96B | $6.46B | $6.04B | $6.10B | $5.64B |
| Current assets | $410.73M | $355.92M | $414.43M | $761.13M | $522.45M | $314.20M | $362.62M | $544.59M | $818.28M | $413.03M |
| Total liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current liabilities | $925.76M | $1.10B | $806.31M | $1.94B | $1.24B | $459.57M | $421.91M | $440.06M | $646.04M | $303.74M |
| Total equity incl. NCI | $3.09B | $2.85B | -$55.06M | -$625.73M | $1.79B | $1.97B | $2.14B | $1.94B | $1.70B | $1.53B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $139.96M | $141.50M | $112.38M | $133.20M |
| Goodwill | $5.48M | $5.48M | $5.48M | $5.48M | $5.48M | $5.48M | $5.48M | $5.48M | $5.48M | $5.48M |
| Long-term debt | $2.38B | $2.19B | $2.38B | $2.08B | $2.63B | $2.63B | $2.13B | $2.13B | $2.08B | $2.09B |
| Accounts payable | $184.05M | $165.07M | $152.19M | $178.94M | $171.66M | $134.13M | $132.21M | $160.03M | $126.44M | $108.06M |
Cash flow
| Metric | 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.10B | $1.07B | $1.24B | $812.52M | $791.55M | $740.81M | $694.48M | $615.30M | $684.51M | Unavailable |
| Capital expenditures | $912.82M | $931.24M | $1.01B | $811.83M | $751.73M | $716.15M | $788.94M | $584.00M | $450.34M | $581.58M |
| Investing cash flow | -$891.70M | -$933.90M | -$1.11B | -$518.70M | -$633.22M | -$1.22B | -$799.18M | -$528.89M | -$422.56M | Unavailable |
| Financing cash flow | -$203.38M | -$149.28M | -$207.00M | -$276.24M | -$58.74M | $476.09M | -$101.10M | -$410.64M | $163.87M | Unavailable |
| Net change in cash | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | -$325.92M | $425.56M | $16.38M |
| Stock-based compensation | $19.75M | $22.08M | $20.63M | $19.51M | $17.06M | $14.93M | $21.19M | $15.76M | $12.26M | $5.76M |
| Common dividends paid | $188.44M | $183.80M | $176.10M | $168.15M | $163.09M | $153.32M | $147.42M | $143.26M | $139.06M | $134.82M |
| Common share repurchases | $54.43M | $64.09M | $0 | $0 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | $456.59M | $457.03M | $409.57M | $369.79M | $335.30M | $306.16M | $275.66M | $240.96M | $224.20M | $249.42M |
Derived
| Metric | 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | $187.21M | $134.72M | $227.21M | $695.00K | $39.82M | $24.66M | -$94.46M | $31.30M | $234.17M | Unavailable |
| Gross margin | 90.6% | 92.3% | 79.9% | 82.1% | 90.1% | 84.9% | 77.2% | 78.8% | Unavailable | Unavailable |
| Operating margin | 35.7% | 10.8% | 34.7% | 37.3% | 36.7% | 1.9% | 30.2% | 32.6% | 37.6% | -28.7% |
| FCF margin | 8.2% | 6.9% | 10.5% | 0.0% | 2.3% | 1.6% | -5.6% | 2.0% | 14.8% | Unavailable |
| SBC / revenue | 0.9% | 1.1% | 0.9% | 0.9% | 1.0% | 1.0% | 1.3% | 1.0% | 0.8% | 0.4% |
| Current ratio | 0.44x | 0.32x | 0.51x | 0.39x | 0.42x | 0.68x | 0.86x | 1.24x | 1.27x | 1.36x |
| Revenue YoY growth | 17.1% | -10.5% | -0.6% | 25.4% | 12.7% | -8.7% | 6.3% | 0.8% | 8.8% | Unavailable |
| Net margin | 22.8% | 4.0% | 21.9% | 25.9% | 20.9% | -8.0% | 18.0% | 24.6% | 17.9% | -20.0% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 40.1% | 47.9% | 46.5% | 37.1% | 43.1% | 46.3% | 46.6% | 36.7% | 28.5% | 40.0% |
| Long-term debt / equity | 0.77x | 0.77x | Unavailable | Unavailable | 1.47x | 1.33x | 1.00x | 1.10x | 1.22x | 1.37x |
| Effective tax rate | 25.3% | 11.2% | 25.7% | 17.1% | 24.0% | Unavailable | 21.9% | -2.0% | 36.2% | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open NFG in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-07-30View SEC filing
10-Q · Filed 2026-04-30View SEC filing
10-Q · Filed 2026-01-29View SEC filing
10-K · Filed 2025-11-21View SEC filing
10-Q · Filed 2025-07-31View SEC filing
10-Q · Filed 2025-05-01View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.