US · NFG
National Fuel Gas Company
- Sector
- Energy · Oil & Gas Integrated
- Headquarters
- Williamsville, NY 14221
- Website
- nationalfuel.com
Price · as of 2025-09-30
$82.98
Market cap 8.65B
Valuation summary
Four models, one snapshot. Upside is target ÷ current − 1.
| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial Intelligence(AI) | $73.88 | -10.97% |
| Intrinsic Value(DCF) | $34.18 | -58.81% |
| Graham-Dodd Method(GD) | $31.55 | -61.98% |
| Graham Formula(GF) | $140.84 | +69.73% |
Valuation history
Annual price (USD per share) overlaid with each model's fair value. Y-axis is log scale.
| Year | Price | AI | DCF | Graham-Dodd | Graham Formula |
|---|---|---|---|---|---|
| 2011 | $38.43 | $47.76 | $8.23 | $17.69 | $28.46 |
| 2012 | $35.01 | $39.44 | $8.29 | $15.31 | $0.00 |
| 2013 | $47.02 | $49.48 | $5.47 | $19.74 | $62.23 |
| 2014 | $47.62 | $52.95 | $14.28 | $23.86 | $81.55 |
| 2015 | $27.01 | $18.00 | $0.00 | $0.00 | $34.84 |
| 2016 | $42.84 | $19.31 | $0.00 | $0.00 | $29.85 |
| 2017 | $43.87 | $37.99 | $24.89 | $12.06 | $54.95 |
| 2018 | $42.87 | $45.71 | $14.37 | $20.28 | $40.58 |
| 2019 | $36.42 | $46.45 | $10.82 | $16.74 | $50.29 |
| 2020 | $36.33 | $38.85 | $0.00 | $0.00 | $0.14 |
| 2021 | $54.25 | $54.17 | $24.60 | $12.65 | $80.54 |
| 2022 | $56.72 | $57.37 | $80.93 | $26.06 | $200.78 |
| 2023 | $47.24 | $50.67 | $5.50 | $29.44 | $39.27 |
| 2024 | $59.00 | $42.65 | $4.04 | $5.16 | $0.00 |
| 2025 | $81.25 | $73.88 | $5.03 | $31.55 | $140.84 |
AI valuation
Our deep-learning model estimates National Fuel Gas Company's (NFG) per-share fair value from quarterly fundamentals, sector trend, and historical valuation patterns.
- AI fair value
- $73.88
- Current price
- $82.98
- AI upside
- -10.97%
Methodology and confidence bands appear in the dedicated valuation theory section. The AI score is an estimate, not a recommendation.
Intrinsic value (DCF)
Open DCF calculatorThree textbook valuation models, recomputed daily from the latest financial statements. The DCF uses our Chepakovich model. Graham-Dodd and Graham Formula are conservative reference points.
DCF
$34.18
-58.81% upside
Graham-Dodd
$31.55
-61.98% upside
Graham Formula
$140.84
+69.73% upside
Peer comparison
Same-industry comparables, ranked by market cap.
| Basic Info | Model Valuation | Core Valuation | Profitability | Leverage & Liquidity | Growth | Cash Flow | Dividends | Enterprise Value | Risk | ||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ticker | Company Name | Price | Market Cap | AI Upside | DCF Upside | GD Upside | GF Upside | P/E | P/B | P/S | EV/EBITDA | PEG | P/TBV | Gross Margin | Operating Margin | Net Margin | ROE | ROIC | ROA | Debt/Equity | Interest Coverage | Current Ratio | Quick Ratio | Net Debt/EBITDA | EPS Growth | Sales Growth | FCF Growth | FCF Yield | Op Cash Flow Ratio | Cash ROIC | Dividend Yield | Dividend Payout | Shareholder Yield | EV/EBIT | EV/FCF | EV/Sales | Altman Z-Score |
| NFG | National Fuel Gas Company | $82.98 | 8.65B | -11% | -59% | -62% | +70% | 14.18 | 2.38 | 3.23 | 7.76 | 2.46 | 2.38 | 66.13% | 35.72% | 22.77% | 17.45% | 10.59% | 6.09% | 0.92 | 5.22 | 0.44 | 0.29 | 2.14 | 57619.00% | 1711.00% | 3895.00% | 2.55% | 1.19 | 3.26% | 2.56% | 36.30% | 3.37% | 12.47 | 54.18 | 4.45 | 1.61 |
| AM | Antero Midstream Corporat… | $22.48 | 10.71B | +25% | -58% | — | -43% | 26.50 | 5.55 | 8.70 | 14.93 | 733.17 | 12.19 | 65.30% | 51.20% | 32.81% | 20.22% | 9.21% | 7.02% | 1.63 | 3.39 | 3.41 | 2.60 | 3.25 | 361.00% | 699.00% | 2802.00% | 7.03% | 8.36 | 15.03% | 4.01% | 106.30% | 5.93% | 21.70 | 18.17 | 11.11 | 2.31 |
| APA | APA Corporation | $30.37 | 10.77B | +184% | -21% | +68% | -99% | 7.93 | 1.02 | 1.28 | 2.79 | 10.58 | 1.02 | 37.32% | 30.83% | 16.08% | 17.48% | 12.97% | 7.72% | 0.38 | 24.34 | 0.22 | 0.22 | 0.69 | 7500.00% | -839.00% | 13134.00% | 15.64% | 1.93 | 13.84% | 0.00% | 0.00% | 15.58% | 5.51 | 8.51 | 1.70 | 2.08 |
| CNX | CNX Resources Corporation | $41.78 | 5.95B | +68% | +235% | +21% | +594% | 9.36 | 1.37 | 2.77 | 5.41 | — | 1.50 | 46.84% | 37.07% | 29.55% | 15.01% | 9.52% | 7.19% | 0.57 | 4.66 | 0.44 | 0.29 | 1.58 | -75833.00% | 5919.00% | 9386.00% | 9.01% | 0.92 | 8.11% | 0.00% | 0.00% | 8.84% | 10.55 | 15.69 | 3.91 | 1.49 |
| FRO | Frontline Ltd. | $37.95 | 8.45B | -20% | -26% | -86% | -82% | 23.27 | 3.51 | 4.49 | 12.63 | — | 3.68 | 32.77% | 30.16% | 19.29% | 15.63% | 10.61% | 6.33% | 1.22 | 2.54 | 1.43 | 0.51 | 3.06 | -2377.00% | -416.00% | -47460.00% | 7.60% | 1.38 | 12.19% | 2.35% | 54.60% | 8.20% | 19.63 | 17.37 | 5.92 | 2.77 |
| HESM | Hess Midstream LP | $38.68 | 8.13B | +95% | -58% | -51% | +21% | 13.78 | 8.55 | 3.00 | 6.97 | 92.70 | 8.55 | 63.94% | 62.18% | 21.77% | 64.22% | 20.74% | 8.27% | 6.64 | 4.47 | 0.85 | 0.81 | 3.05 | 1486.00% | 867.00% | 1482.00% | 14.98% | 5.24 | 17.47% | 0.00% | 0.00% | 0.00% | 8.56 | 11.85 | 5.32 | 1.86 |
| PR | Permian Resources Corpora… | $18.29 | 13.62B | +152% | -54% | -37% | -34% | 12.24 | 1.31 | 2.66 | 3.63 | — | 1.31 | 32.72% | 29.04% | 18.46% | 11.32% | 10.06% | 6.31% | 0.01 | 5.20 | 0.78 | 0.59 | -0.01 | -1172.00% | 129.00% | 9133.00% | 4.14% | 2.15 | 4.80% | 3.33% | 40.70% | 32.47% | 9.13 | 24.10 | 2.65 | 1.92 |
| RRC | Range Resources Corporati… | $41.28 | 9.78B | +15% | -50% | -36% | +131% | 15.14 | 2.31 | 3.33 | 8.41 | 10.00 | 2.31 | 34.08% | 27.91% | 21.98% | 15.94% | 11.98% | 8.91% | 0.29 | 7.97 | 0.67 | 0.54 | 0.95 | 15138.00% | 2756.00% | 8670.00% | 5.92% | 1.77 | 10.69% | 0.86% | 13.00% | 5.69% | 13.44 | 19.04 | 3.75 | 2.50 |
| SOBO | South Bow Corporation | $32.21 | 6.71B | -7% | -61% | -37% | -35% | 15.99 | 1.84 | 2.27 | 9.63 | — | 1.84 | 70.66% | 35.14% | 14.91% | 11.04% | 6.84% | 2.58% | 2.19 | 1.92 | 1.25 | 0.94 | 5.06 | -2864.00% | 574.00% | -4778.00% | 8.06% | 0.29 | 4.70% | 0.00% | 0.00% | 8.15% | 13.60 | 26.14 | 4.78 | 0.78 |
| SUN | Sunoco LP | $63.79 | 8.71B | +49% | +3,907% | — | +13% | 16.58 | 1.09 | 0.35 | 13.18 | — | 3.40 | 8.35% | 3.69% | 2.09% | 8.73% | 4.72% | 2.47% | 2.01 | 1.72 | 1.38 | 0.72 | 8.37 | -3900.00% | 1105.00% | 20000.00% | 7.04% | 0.30 | 3.49% | 7.52% | 124.70% | 7.52% | 25.79 | 38.95 | 0.95 | 1.32 |
| TGS | Transportadora de Gas del… | $29.62 | 4.46B | -39% | +41% | -31% | +99% | 13.56 | 2.25 | 4.16 | 6.19 | 0.92 | 2.25 | 52.33% | 46.44% | 30.68% | 18.07% | 17.69% | 11.02% | 0.24 | 10.06 | 2.73 | 2.62 | 0.61 | 147407.00% | 2471.00% | 6380.00% | 3.87% | 1.31 | 9.65% | 0.00% | 0.00% | 8.68% | 8.48 | 24.45 | 3.94 | 3.87 |
About National Fuel Gas Company
National Fuel Gas Company operates as a diversified energy company. It operates through four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment explores for, develops, and produces natural gas and oil in California and in the Appalachian region of the United States. As of September 30, 2021, it had proved developed and undeveloped reserves of 21,537 thousand barrels of oil and 3,723,433 million cubic feet of natural gas. The Pipeline and Storage segment provides interstate natural gas transportation and storage services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields. This segment also transports natural gas for National Fuel Gas Distribution Corporation, as well as for other utilities, industrial companies, and power producers in New York State; and owns and operates the Empire Pipeline. The Gathering segment builds, owns, and operates natural gas processing and pipeline gathering facilities in the Appalachian region, as well as provides gathering services to Seneca Resources Company, LLC. The Utility segment sells natural gas or provides natural gas transportation services to approximately 753,000 customers in Buffalo, Niagara Falls, and Jamestown, New York; and Erie and Sharon, Pennsylvania. The company markets gas to industrial, wholesale, commercial, public authority, and residential customers primarily in western and central New York, and northwestern Pennsylvania. As of September 30, 2021, the company also owned approximately 95,000 acres of timber property; and managed approximately 2,500 additional acres of timber cutting rights. National Fuel Gas Company was incorporated in 1902 and is headquartered in Williamsville, New York.
- CEO
- David Bauer
- Employees
- 2.31K
- Beta
- 0.60
Disclaimer: Information on this page is provided for educational purposes only and does not constitute investment advice. Upside computed as ($34.18 ÷ $82.98) − 1 = -58.81% (DCF, example).