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National Fuel Gas NFG Appalachian Region — Revisions of Previous Estimates

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Other financials

Income statement

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Revenue$537.5M+1.1%
Gross profit$507.6M+0.7%
Operating income$208.9M-9.3%
Net income$138.6M-7.5%
EPS (diluted)$1.45-11.6%

Balance sheet

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Cash & equivalents$1.2B+3,042%
Total debt$3.6B+46.0%
Total equity$3.9B+31.9%
Total assets$10.5B+23.7%

Cash flow

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Operating cash flow$377.3M-2.9%
CapEx$266.2M+37.9%
Free cash flow$111.0M-43.2%

Valuation

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Market cap$7.5B-4.6%
Enterprise value$9.83B-4.2%
P/E11.1×
P/S-0.6×

Profitability

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Gross margin87.7%-2.6pp
Operating margin40.3%
Net margin26.9%
FCF margin7.1%

Returns & leverage

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Return on equity19.6%
Debt / equity0.9×+0.1×
Current ratio3.2×+2.7×

Where this comes from

Reported directly by National Fuel Gas in its filing.

Tagged under the XBRL concept srt:ProvedDevelopedAndUndevelopedReservesRevisionsOfPreviousEstimatesIncreaseDecrease.

The source filing: National Fuel Gas’s 10-K, filed November 21, 2025.

Filed
Nov 21, 2025
Fiscal year
FY2026
Accession
0000070145-25-000039
Line itemU.S. / Appalachian Region / Gas MMcfOil Mbbl
Proved Developed and Undeveloped Reserves:
September 30, 20224,170,662250
Extensions and Discoveries670,438
Revisions of Previous Estimates32,379(4)
Production(372,271)(30)
Purchases of Minerals in Place33,876
September 30, 20234,535,084216
Extensions and Discoveries601,679

Item 8 Financial Statements and Supplementary Data

FAQ

What is National Fuel Gas's appalachian region — revisions of previous estimates?
National Fuel Gas (NFG) reported appalachian region — revisions of previous estimates of $5.62K in Q3 2025.
How has National Fuel Gas's appalachian region — revisions of previous estimates changed year-over-year?
National Fuel Gas's appalachian region — revisions of previous estimates increased by 218.9% year-over-year, from $1.76K to $5.62K.
What is the long-term trend for National Fuel Gas's appalachian region — revisions of previous estimates?
Over 4 years (2021 to 2025), National Fuel Gas's appalachian region — revisions of previous estimates has grown at a 3.0% compound annual growth rate (CAGR), from $19.94K to $22.47K.
What does appalachian region — revisions of previous estimates mean?
Reflects changes to previous reserve estimates due to new technical data, changes in economic conditions, or updated performance analysis of existing wells. Positive revisions indicate improved recovery expectations, while negative revisions suggest a downward adjustment in the expected future output of the assets.

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