What is National Fuel Gas's utility — lease operating expense?

National Fuel Gas (NFG) reported utility — lease operating expense of $0 in Q1 2026.

What does utility — lease operating expense mean?

Represents the direct costs incurred to operate and maintain leased assets or properties utilized by the utility segment. This metric is critical for evaluating the cost-effectiveness of the segment's asset management and leasing strategies.

National Fuel Gas NFG Utility — Lease Operating Expense

Other segment segments

All Other

$0—

Similar metrics at other companies

CMS

CMSElectric Utility — Utilities Operating Expense

$1.19B+8.4%

APLDOperating Lease Expense

$5.48M-35.7%

AEPUtilities Operating Expense, Operations

$750M-0.3%

RRXOperating Lease Expense

$11.7M+8.1%

PNCOperating Lease Cost

$91.5M-1.9%

RBCOperating Lease Expense

$2.78M+6.7%

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

See full

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 us-gaap:ProductionCosts.

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 — lease operating expense?: National Fuel Gas (NFG) reported utility — lease operating expense of $0 in Q1 2026.
What does utility — lease operating expense mean?: Represents the direct costs incurred to operate and maintain leased assets or properties utilized by the utility segment. This metric is critical for evaluating the cost-effectiveness of the segment's asset management and leasing strategies.