What is National Fuel Gas's regulatory assets?

National Fuel Gas (NFG) reported regulatory assets of $33.04M in Q1 2026.

How has National Fuel Gas's regulatory assets changed year-over-year?

National Fuel Gas's regulatory assets decreased by 8.7% year-over-year, from $36.18M to $33.04M.

What is the long-term trend for National Fuel Gas's regulatory assets?

Over 5 years (2020 to 2025), National Fuel Gas's regulatory assets has grown at a 16.3% compound annual growth rate (CAGR), from $16.61M to $35.36M.

National Fuel Gas NFG Regulatory assets

Regulatory assets at other companies

Essential UtilitiesWTRG

$19.75M+13.2%

Xcel EnergyXEL

$482M-23.1%

CMS

CMS EnergyCMS

$94M-45.7%

PG&EPCG

$230M+8.5%

Consolidated EdisonED

——

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 us-gaap:RegulatoryAssetsCurrent.

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 regulatory assets?: National Fuel Gas (NFG) reported regulatory assets of $33.04M in Q1 2026.
How has National Fuel Gas's regulatory assets changed year-over-year?: National Fuel Gas's regulatory assets decreased by 8.7% year-over-year, from $36.18M to $33.04M.
What is the long-term trend for National Fuel Gas's regulatory assets?: Over 5 years (2020 to 2025), National Fuel Gas's regulatory assets has grown at a 16.3% compound annual growth rate (CAGR), from $16.61M to $35.36M.