What are National Fuel Gas's profit margins?

National Fuel Gas (NFG) runs a 87.8% gross margin and a 41.2% operating margin, with a 27.4% net margin.

Where do National Fuel Gas's ratios come from?

Every ratio is computed from National Fuel Gas's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

National Fuel Gas NFG Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q2 '26	Q1 '26	Q4 '25	Q3 '25	Q2 '25
Profitability
Gross margin	87.8%-3.1pp	90.2%-1.8pp	90.6%-1.7pp	90.3%-1.7pp	90.9%+0.4pp
Operating margin	41.2%—	42.2%—	35.7%—	——	——
Net margin	27.4%—	27.5%—	22.8%—	——	——
EBITDA margin	60.2%—	61.9%—	55.8%—	——	——
Returns
Return on equity	20.8%—	——	——	——	——
Return on assets	7.8%—	7.5%—	6.1%—	——	——
Return on invested capital	13.8%—	19.3%—	15.4%—	——	——
Efficiency
Asset turnover	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.2×0.0×
Liquidity
Current ratio	0.6×+0.1×	0.6×+0.3×	0.4×+0.1×	0.5×-0.3×	0.5×-0.1×
Quick ratio	0.6×+0.1×	0.7×+0.3×	0.4×+0.1×	0.4×-0.3×	0.5×-0.1×
Cash ratio	0×0.0×	0.2×+0.2×	0×0.0×	0×-0.1×	0.1×0.0×
Leverage
Debt-to-equity	0.6×-0.4×	0.6×—	0.8×—	0.8×-521×	0.9×-34.4×
Debt-to-assets	0.2×-0.1×	0.2×-0.1×	0.3×0.0×	0.3×0.0×	0.3×0.0×
Net debt / EBITDA	1.4×—	1.3×—	2×—	——	——
Interest coverage	7.9×—	7.1×—	5.8×—	——	——
Per Share
Book value per share	$39.97+31.8%	$39.02+4,784%	$33.92+20,340%	$32.65+59,259%	$30.33+3,625%
Valuation
Market capitalization	$8.93B+24.5%	$7.25B+31.6%	$8.35B+49.9%	$7.72B+54.7%	$7.17B+44.9%
Enterprise value	$11.03B+14.1%	$9.16B+16.6%	$10.88B+38.5%	$10.12B+34.1%	$9.67B+27.8%
Price / earnings	13×—	11.1×—	16.1×—	——	——
Price / sales	3.6×+0.1×	3×+0.2×	3.7×+0.8×	3.5×+1.0×	3.5×+0.9×
Price / book	2.3×-0.3×	2×—	2.7×—	2.6×-986×	2.6×-63.1×
EV / EBITDA	7.3×—	6.2×—	8.6×—	——	——
EV / sales	4.4×-0.3×	3.8×-0.1×	4.8×+0.7×	4.6×+0.8×	4.7×+0.8×
Earnings yield	7.7%—	9%—	6.2%—	——	——
Dividend yield	2.2%-0.4pp	2.6%-0.7pp	2.3%-1.0pp	2.4%-1.2pp	2.6%-1.0pp

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Questions, answered.

What are National Fuel Gas's profit margins?: National Fuel Gas (NFG) runs a 87.8% gross margin and a 41.2% operating margin, with a 27.4% net margin.
Where do National Fuel Gas's ratios come from?: Every ratio is computed from National Fuel Gas's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.