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National Fuel Gas NFG Pipeline and Storage — 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 pipeline and storage — alternative revenue programs?
National Fuel Gas (NFG) reported pipeline and storage — alternative revenue programs of $0 in Q2 2026.
What does pipeline and storage — alternative revenue programs mean?
This metric tracks revenue derived from specific regulatory or contractual mechanisms that allow for the recovery of costs or the achievement of performance incentives outside of standard rate-based services. It provides insight into the company's ability to leverage regulatory frameworks to stabilize or enhance segment earnings.

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