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National Fuel Gas CoNFG +1.71%81 EV-to-EBITDA is 6.59 as of Jul. 22, 2026, which is 22% below its 10-year median of 8.46. GuruFocus rates NFG with a GF Score™ of 81/100 and a GF Value™ of $78.42 (Fairly Valued). The stock has 1 warning sign investors should review. Among 761 Oil & Gas companies, National Fuel Gas Co ranks better than 58.48% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, National Fuel Gas Co's enterprise value is $10,217 Mil.
National Fuel Gas Co's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was $1,549 Mil. Therefore, National Fuel Gas Co's EV-to-EBITDA for today is 6.59.
The historical rank and industry rank for National Fuel Gas Co's EV-to-EBITDA or its related term are showing as below:
NFG'
s EV-to-EBITDA Range Over the Past 10 Years
Min: -45.13 Med: 8.46 Max: 23.15
Current: 6.59
During the past 13 years, the highest EV-to-EBITDA of National Fuel Gas Co was 23.15. The lowest was -45.13. And the median was 8.46.
NFG's EV-to-EBITDA is ranked better than 58.48% of 761
companies
in the Oil & Gas industry
Industry Median: 7.7
vs NFG: 6.59
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
National Fuel Gas Co (NYSE:NFG) EV-to-EBITDA Explanation
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
National Fuel Gas Co's PE Ratio (TTM) for today is calculated as:
National Fuel Gas Co's share price for today is $82.26.
National Fuel Gas Co's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $7.390.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for National Fuel Gas Co's EV-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Oil & Gas Integrated subindustry, National Fuel Gas Co's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
National Fuel Gas Co EV-to-EBITDA vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, National Fuel Gas Co's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where National Fuel Gas Co's EV-to-EBITDA falls into.
National Fuel Gas Co's current Enterprise Value is $10,217 Mil.
National Fuel Gas Co's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,549 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
National Fuel Gas Co (NFG) has a EV-to-EBITDA of 6.59 as of Jul. 22, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on National Fuel Gas Co. This is 22% below median its historical median of 8.46. According to the industry distribution chart, National Fuel Gas Co ranks #316 out of 761 companies in the Oil & Gas industry, placing it in the top 41.5%.
Is National Fuel Gas Co's EV-to-EBITDA too high?
National Fuel Gas Co's current EV-to-EBITDA of 6.59 is 22% below median its 10-year median of 8.46. The Oil & Gas industry median EV-to-EBITDA is 7.70. National Fuel Gas Co's value of 6.59 is 14.4% below this industry median. Based on the distribution chart, National Fuel Gas Co ranks #316 out of 761 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, National Fuel Gas Co has a GF Score™ of 81/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does National Fuel Gas Co's EV-to-EBITDA compare to DEC and UNTC?
According to the Oil & Gas industry distribution chart, National Fuel Gas Co ranks #316 out of 761 companies for EV-to-EBITDA. This puts National Fuel Gas Co in the upper half of its industry. The industry median EV-to-EBITDA is 7.70. National Fuel Gas Co's value of 6.59 is 14.4% below this benchmark. While the company's 10-year median is 8.46 vs. the industry median of 7.70, National Fuel Gas Co has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for an Oil & Gas company?
The median EV-to-EBITDA among Oil & Gas companies is 7.70, based on 761 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Fuel Gas Co's current EV-to-EBITDA of 6.59 is 14.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on National Fuel Gas Co. For the Oil & Gas industry, the median EV-to-EBITDA is 7.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Fuel Gas Co's current EV-to-EBITDA is 6.59, which is 22% below median its own 10-year median of 8.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Fuel Gas Co stock overvalued right now?
Based on GuruFocus' analysis, National Fuel Gas Co (NFG) is currently considered Fairly Valued. The stock's GF Value™ is $78.42, compared to a current price of $82.26 — trading 4.9% above its estimated fair value. The current EV-to-EBITDA is 6.59, which is 22% below median its 10-year median of 8.46 and 14.4% below the Oil & Gas industry median of 7.70. National Fuel Gas Co's overall GF Score™ is 81/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For National Fuel Gas Co (NFG), the current EV-to-EBITDA is 6.59 as of Jul. 22, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is National Fuel Gas Co (NFG) Overvalued in 2026?
Based on GuruFocus' analysis, National Fuel Gas Co stock appears to be overvalued.
The current stock price of $82.26 is trading 4.9% above its estimated GF Value™ of $78.42.
GuruFocus considers National Fuel Gas Co to be Fairly Valued.
Key valuation signals for NFG:
EV-to-EBITDA: 6.59 (22% below median its 10-year median of 8.46)
GF Value™: $78.42 vs. price of $82.26 (4.9% above fair value)
Industry Position: 14.4% below the Oil & Gas median (#316 of 761)
No single metric tells the full story. See the NFG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Fuel Gas Co is a diversified energy company involved in natural gas production, gathering, transportation, distribution, and marketing. It operates through three segments: Integrated Upstream and Gathering, Pipeline and Storage, and Utility. The majority of revenue comes from the Integrated Upstream and Gathering segment, which focuses on Seneca's natural gas exploration and development in the Appalachian region and Midstream operations supporting gas processing and gathering. The Pipeline and Storage segment transports and stores natural gas for customers in the northeastern United States and Canada, while the Utility segment supplies natural gas to retail customers in western New York and northwestern Pennsylvania. the company opeartes in United States.
81GF Score
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EV-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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