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National Fuel Gas NFG Integrated Upstream and Gathering — Alternative Revenue Programs

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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$7.66B-2.5%
Enterprise value$10B-2.6%
P/E11.4×
P/S3.1×-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 nfg:AlternativeRevenuePrograms.

The source filing: National Fuel Gas’s 10-Q, filed July 30, 2026.

Filed
Jul 30, 2026, 11:54 AM EDT
Fiscal quarter
Q4 FY2026
Calendar quarter
Q3 2026
Accession
0000070145-26-000033
Quarter Ended June 30, 2026 (Thousands) / Revenues By Type of ServiceQuarter Ended June 30, 2026 (Thousands) / Integrated Upstream and GatheringQuarter Ended June 30, 2026 (Thousands) / Pipeline and StorageUtilityTotal Reportable SegmentsAll OtherCorporate and Intersegment EliminationsTotal Consolidated
Natural Gas Residential Sales121,502121,502121,502
Natural Gas Commercial Sales14,12914,12914,129
Natural Gas Industrial Sales885885(1)884
Other5,400(25)3,1588,533(229)8,304
Total Revenues from Contracts with Customers244,258106,541160,235511,034(37,060)473,974
Alternative Revenue Programs5,2655,2655,265
Derivative Financial Instruments58,25858,25858,258
Total Revenues$302,516$106,541$165,500$574,557$(37,060)$537,497

Item 1. Financial Statements (Unaudited)

FAQ

What is National Fuel Gas's integrated upstream and gathering — alternative revenue programs?
National Fuel Gas (NFG) reported integrated upstream and gathering — alternative revenue programs of $0 in Q2 2026.
What does integrated upstream and gathering — alternative revenue programs mean?
Refers to revenue streams derived from non-traditional or regulatory-approved alternative programs outside of standard commodity sales. These programs often include performance-based incentives or specific service-level agreements within the energy sector. Monitoring this helps identify diversification in revenue sources beyond core production activities.

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