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National Fuel Gas NFG Utility — Alternative Revenue Programs

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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%
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

Reported directly by National Fuel Gas in its filing.

Tagged under the XBRL concept nfg:AlternativeRevenuePrograms.

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 utility — alternative revenue programs?
National Fuel Gas (NFG) reported utility — alternative revenue programs of -$1.97M in Q1 2026.
How has National Fuel Gas's utility — alternative revenue programs changed year-over-year?
National Fuel Gas's utility — alternative revenue programs decreased by 165.0% year-over-year, from $3.03M to -$1.97M.
What is the long-term trend for National Fuel Gas's utility — alternative revenue programs?
Over 4 years (2021 to 2025), National Fuel Gas's utility — alternative revenue programs has grown at a 2.2% compound annual growth rate (CAGR), from $11.09M to $12.1M.
What does utility — alternative revenue programs mean?
Reflects supplemental income streams derived from regulatory mechanisms or specialized programs that allow the utility to recover costs or earn returns outside of standard base rate charges. These programs are often designed to support energy efficiency or specific policy-driven initiatives.