What is National Fuel Gas's net margin?

National Fuel Gas (NFG) reported net margin of 27.4% in Q1 2026.

What is the long-term trend for National Fuel Gas's net margin?

Over 4 years (2020 to 2025), National Fuel Gas's net margin has grown at a 29.9% compound annual growth rate (CAGR), from -8% to 22.8%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

National Fuel Gas NFG Net margin

Net margin at other companies

EQT CorporationEQT

31.9%+25.3pp

Williams CompaniesWMB

20.6%-6.7pp

EnbridgeENB

10%-0.3pp

Consolidated EdisonED

12.5%+0.5pp

DT MidstreamDTM

36.3%+1.3pp

Enterprise Products PartnersEPD

11.4%+1.2pp

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%—

FCF margin7.2%—

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.

net income/total revenue=27.4%

Based on trailing twelve months.

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 net margin?: National Fuel Gas (NFG) reported net margin of 27.4% in Q1 2026.
What is the long-term trend for National Fuel Gas's net margin?: Over 4 years (2020 to 2025), National Fuel Gas's net margin has grown at a 29.9% compound annual growth rate (CAGR), from -8% to 22.8%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.