What does free cash flow margin mean?

Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

National Fuel Gas NFG Free cash flow margin

Discontinued — last reported Q3 '18

Free cash flow margin at other companies

EQT CorporationEQT

39.4%—

Williams CompaniesWMB

16%-13.4pp

EnbridgeENB

2.7%-5.9pp

DT MidstreamDTM

36.6%-6.1pp

Enterprise Products PartnersEPD

4.7%-1.9pp

OneokOKE

6.4%-5.9pp

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%—

Returns & leverage

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Return on equity20.8%—

Debt / equity0.6×-0.4×

Current ratio0.6×+0.1×

Where this comes from

Calculated from National Fuel Gas’s reported figures.

free cash flow/total revenue=7.2%

Based on trailing twelve months.

The official record: National Fuel Gas’s 10-Q, filed August 2, 2019, on SEC EDGAR. View the filing →

Questions, answered.

What does free cash flow margin mean?: Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.