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National Fuel Gas NFG Debt-to-equity

Debt-to-equity at other companies

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2.1×+0.1×
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-1.4×
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1.1×0.0×
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1.1×+0.1×

Other financials

Income statement

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Revenue$858.4M+17.6%
Gross profit$650.5M+9.4%
Operating income$347.1M+9.4%
Net income$247.7M+14.5%
EPS (diluted)$2.59+9.3%

Balance sheet

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Cash & equivalents$26.6M-70.9%
Total debt$2.1B-17.9%
Total equity$3.8B+38.3%
Total assets$9.1B+7.6%

Cash flow

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Operating cash flow$382.4M+50.7%
CapEx$220.6M+13.8%
Free cash flow$161.7M+170%

Valuation

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Market cap$7.21B+24.5%
Enterprise value$9.31B+14.1%
P/E10.5×
P/S2.9×+0.1×

Profitability

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Gross margin87.8%-3.1pp
Operating margin41.2%
Net margin27.4%
FCF margin7.2%

Returns & leverage

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Return on equity20.8%
Current ratio0.6×+0.1×

Where this comes from

Calculated from National Fuel Gas’s reported figures.

Based on the most recent quarter.

The official record: National Fuel Gas’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is National Fuel Gas's debt-to-equity?
National Fuel Gas (NFG) reported debt-to-equity of 0.6× in Q1 2026.
How has National Fuel Gas's debt-to-equity changed year-over-year?
National Fuel Gas's debt-to-equity decreased by 40.6% year-over-year, from 0.9× to 0.6×.
What is the long-term trend for National Fuel Gas's debt-to-equity?
Over 2 years (2020 to 2025), National Fuel Gas's debt-to-equity has grown at a -21.5% compound annual growth rate (CAGR), from 1.4× to 0.8×.
What does debt-to-equity mean?
Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.