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Companies / Utilities / National Fuel Gas Company
NFG

National Fuel Gas Company

UtilitiesElectric, Gas & Water
Ticker NFGWILLIAMSVILLE, NYFiscal year ends SeptemberBook value per share $41.54Diluted shares 94.4M

National Fuel Gas Company (NYSE: NFG) is a diversified energy company focused on natural gas production, gathering, transportation, storage and distribution, with operations centered in western New York and Pennsylvania. It reports three segments: Integrated Upstream and Gathering, where Seneca Resources explores for… From the company’s description.

In fiscal 2025, National Fuel Gas Company reported revenue of $2.28B, up 17.1% from fiscal 2024, and net income of $518.50M. Its operating margin was 35.7%, and operations generated $1.10B in cash. Over the twelve months to Jun 30, 2026, revenue was $2.51B.

Fiscal year 2025 · ends 09-30Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$2.28BFY2025
+17.1% year over year
Last 12 mo $2.51B
35.72%FY2025
+24.9 percentage points
Last 12 mo 40.26%
$518.50MFY2025
+568.9% year over year
Last 12 mo $675.28M
20.18%FY2025
+1.3 percentage points
Last 12 mo 17.21%
Cash & financing
$1.10BFY2025
+3.2% year over year
Last 12 mo $1.27B
$187.21MFY2025
+39.0% year over year
Last 12 mo $222.27M
0.93FY2025
Was 1.00× a year earlier
Last 12 mo 0.92
91.2MFY2025
−1.2% year over year
Last 12 mo 94.4M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What National Fuel Gas Company does

In the company’s own words

National Fuel Gas Company (NYSE: NFG) is a diversified energy company focused on natural gas production, gathering, transportation, storage and distribution, with operations centered in western New York and Pennsylvania. It reports three segments: Integrated Upstream and Gathering, where Seneca Resources explores for and develops Appalachian natural gas reserves and National Fuel Gas Midstream builds and operates gathering and processing facilities; Pipeline and Storage, which transports gas for affiliated and unaffiliated customers and provides underground storage; and Utility, which distributes gas to retail customers. The utility serves approximately 756,000 customers in western New York and northwestern Pennsylvania, while the pipeline systems connect Appalachian supplies with markets in the Northeast, Midwest and Canada. The company’s integrated operations also include production in the Marcellus and Utica shales. National Fuel had 2,322 full-time employees at September 30, 2025. Its website is www.nationalfuel.com.

Company details
Sector
Utilities
Industry (SIC)
Electric, Gas & Water
Headquarters
WILLIAMSVILLE, NY
Fiscal year end
September
CIK
70145
SIC
4924

Financial performance, year by year

Fiscal 2013–2025 · USD
$-668.74M$199.19M$1.07B$1.94B$2.80B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns National Fuel Gas Company — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

479
funds hold it
0 of 35
superinvestors hold it
$3.21B
held by funds, at market
42.9%
of shares held by funds
9
bond issues held by funds

Largest fund holders · National Fuel Gas Company’s weight in each

iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.20%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.09%of fund net assets
First Trust North American Energy Infrastructure Fund
EMLP · First Trust Exchange-Traded Fund IV
—of fund net assets
VANGUARD EQUITY INCOME FUND
VEIPX · VANGUARD FENWAY FUNDS
0.18%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

National Fuel Gas Company’s bonds, as funds hold them

Funds report holding 9 issues of National Fuel Gas Company’s debt, $1.09B at market value — what funds hold, not the company’s total debt. Weighted-average coupon 4.97%, maturing 2026 to 2036.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do National Fuel Gas Company and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of National Fuel Gas Company's earnings go — cash, debt, buybacks, reinvestment?”
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