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National Fuel Gas CoNFG -0.35%81 EV-to-OCF is 7.97 as of Jul. 31, 2026, which is 16% below its 10-year median of 9.54. 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 1,017 Oil & Gas companies, National Fuel Gas Co ranks worse than 61.46% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, National Fuel Gas Co's Enterprise Value is $10,142 Mil.
National Fuel Gas Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was $1,272 Mil. Therefore, National Fuel Gas Co's EV-to-OCF for today is 7.97.
The historical rank and industry rank for National Fuel Gas Co's EV-to-OCF or its related term are showing as below:
NFG'
s EV-to-OCF Range Over the Past 10 Years
Min: 5.85 Med: 9.54 Max: 12.08
Current: 7.97
During the past 13 years, the highest EV-to-OCF of National Fuel Gas Co was 12.08. The lowest was 5.85. And the median was 9.54.
NFG's EV-to-OCF is ranked worse than 61.46% of 1017
companies
in the Oil & Gas industry
Industry Median: 5.87
vs NFG: 7.97
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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 (NYSE:NFG) EV-to-OCF Explanation
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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 $82.18.
National Fuel Gas Co's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $7.200.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
National Fuel Gas Co EV-to-OCF Related Terms
National Fuel Gas Co EV-to-OCF Historical Data
* Premium members only.
The historical data trend for National Fuel Gas Co's EV-to-OCF 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-OCF, along with its competitors' market caps and EV-to-OCF 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-OCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, National Fuel Gas Co's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where National Fuel Gas Co's EV-to-OCF falls into.
National Fuel Gas Co's current Enterprise Value is $10,142 Mil.
National Fuel Gas Co's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,272 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-OCF of 7.97 as of Jul. 31, 2026. This is 16% below median its historical median of 9.54. Over the past decade, National Fuel Gas Co's EV-to-OCF has ranged from 5.85 to 12.08. According to the industry distribution chart, National Fuel Gas Co ranks #625 out of 1017 companies in the Oil & Gas industry, placing it in the top 61.5%.
Is National Fuel Gas Co's EV-to-OCF too high?
National Fuel Gas Co's current EV-to-OCF of 7.97 is 16% below median its 10-year median of 9.54. Over the past 10 years, this metric has ranged from a low of 5.85 to a high of 12.08. The Oil & Gas industry median EV-to-OCF is 5.87. National Fuel Gas Co's value of 7.97 is 35.8% above this industry median. Based on the distribution chart, National Fuel Gas Co ranks #625 out of 1017 companies in the Oil & Gas industry, which is below 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-OCF compare to DEC and SLNG?
According to the Oil & Gas industry distribution chart, National Fuel Gas Co ranks #625 out of 1017 companies for EV-to-OCF. This places National Fuel Gas Co in the lower half of its industry. The industry median EV-to-OCF is 5.87. National Fuel Gas Co's value of 7.97 is 35.8% above this benchmark. Historically, National Fuel Gas Co's own EV-to-OCF has ranged from 5.85 to 12.08 over the past decade. While the company's 10-year median is 9.54 vs. the industry median of 5.87, National Fuel Gas Co has consistently been above 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-OCF for an Oil & Gas company?
The median EV-to-OCF among Oil & Gas companies is 5.87, based on 1,017 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF 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-OCF of 7.97 is 35.8% above 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-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Oil & Gas industry, the median EV-to-OCF is 5.87 — 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-OCF is 7.97, which is 16% below median its own 10-year median of 9.54. 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 $82.18 — trading 4.8% above its estimated fair value. The current EV-to-OCF is 7.97, which is 16% below median its 10-year median of 9.54 and 35.8% above the Oil & Gas industry median of 5.87. 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-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For National Fuel Gas Co (NFG), the current EV-to-OCF is 7.97 as of Jul. 31, 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 $82.18 is trading 4.8% 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-OCF: 7.97 (16% below median its 10-year median of 9.54)
GF Value™: $78.42 vs. price of $82.18 (4.8% above fair value)
Industry Position: 35.8% above the Oil & Gas median (#625 of 1017)
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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