NATIONAL FUEL GAS CO · Natural Gas Distribution

NFG

Low riskNext report: Nov 20 (confirmed)

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The short version

A profitable company with steady sales. Institutions are adding.

Going well

Profitable, keeps 23% of sales as profit
Sales up 17% last year
Brings in more cash than it spends

Money moves

No insider buying or selling in the last 30 days
Institutions added 4.7% to their holdings in the quarter ending June 2026 (346 bought, 266 sold)
Held by Ray Dalio (Bridgewater)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$81.71+1.5% that day

Company value: $7.8B; Share price times all shares
Price vs profit (P/E): 11.4x; You pay about $11 for each $1 of yearly profit
Price vs sales: 3.1x; Company value is 3.1 times a year of sales
Dividend yield: 2.6%; Yearly dividend as a share of today's price
Cash vs value: 16%; Cash as a share of company value
Debt vs value: 35%; Debt as a share of company value

From NFG's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$537.5M+1.1% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $2.5B, up 15% from the 12 months before. Over 5 years, sales grew about 8.1% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of NFG. Starting points are the company's recent numbers.

Sales growth+15% a yearRecently: +15% a yearProfit margin27%Last 12 months: 26.9%P/E at the end11xToday: 11.4x. Many steady companies trade at 12x to 25xShare count change0% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$5.1B

Profit in 5 years$1.4B

Price these guesses point to$157.99+93% vs $81.71 todayAbout +14% a year, before dividends

What today's price needs: with a 27% margin and a 11x P/E, sales would have to grow about 0.8% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

3/4Mixed

PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.22.8%
MissProfitable every yearSteady profits, not one good year.8 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$187.2M
PassShare count not growingNot diluting owners. Falling means buybacks.-1.0% in 3 years

Revenue: $2.3B; +17.1% vs prior year
5-year growth: +8.1%/yr; revenue, per year
Total debt: $2.7B
Current ratio: 0.65x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, debt under half of equity, gross margin 40%+. A checklist is a starting point for research, not a verdict.