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National Fuel Gas Company

NFG Energy Oil & Gas Integrated

National Fuel Gas Company’s revenue for fiscal 2025 (year ended September 2025) was $2.3 billion, up 17.1% from fiscal 2024.

Revenue
+1.07%
EPS
−12.1%
Free cash flow
−43.2%
Total debt
+33.0%

Quarter to June 2026, against a year earlier

74.24 0.27 +0.37%
Market cap
$7.0B
P/E
10.2×
Fwd P/E
11.0×
Dividend yield
2.94%
F-score
7/9
Altman Z
1.71
Beneish M
−2.44
Dividend safety
57/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
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National Fuel Gas Company (NFG) Debt to equity

Alert me on Debt to equity

National Fuel Gas Company's debt to equity at the end of the quarter to 30 June 2026 was 0.9×, up 0.0× from fiscal 2025 (0.9×). Over the past ten years it has ranged from 0.9× (fiscal 2025) to 1.6× (fiscal 2021) — the current reading is the lowest in ten years. That is above the Oil & Gas Integrated industry median of 0.5× and above the Energy sector median of 0.4×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 0.9× (8.15%)
FY2024 0.9× 4.30%
FY2023 0.9× (28.50%)
FY2022 1.3× (19.91%)
FY2021 1.6× 16.26%
FY2020 1.4× 31.77%
FY2019 1.0× (6.75%)
FY2018 1.1× (20.93%)
FY2017 1.4× 2.41%
FY2016 1.4× 32.78%

Quarterly newest first

Period Debt to equity Change
Jun 2026 0.9× 45.80%
Mar 2026 0.6× (16.63%)
Dec 2025 0.7× (13.72%)
Sep 2025 0.9× (3.82%)
42 more quarters

Against its own ten years

Low 0.9× High 1.6×
Ten-year median 1.1×
Current reading's percentile 9

Debt to equity against peers

Company Debt to equity
CVE Cenovus Energy Inc compare 0.3×
TGS Transportadora De Gas Sa Ord B compare 0.5×
E Eni SpA compare 0.6×
PBR.A Petroleo Brasileiro S.A.- Petrobras compare 0.7×
PBR Petroleo Brasileiro S.A.- Petrobras compare 0.7×
YPF YPF Sociedad Anonima compare 0.8×
NFG National Fuel Gas Company 0.9×
EC Ecopetrol S.A. compare 1.0×
DEC Diversified Energy Company PLC compare 3.1×
Oil & Gas Integrated industry median 0.5×
Energy sector median 0.4×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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