Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, National Fuel Gas Co's Enterprise Value is $9,682 Mil.
National Fuel Gas Co's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was $1,072 Mil. Therefore, National Fuel Gas Co's EV-to-EBIT ratio for today is 9.03.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. As of today, National Fuel Gas Co's Enterprise Value is $9,682 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 ratio for today is 6.25.
*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.
National Fuel Gas Co (NYSE:NFG) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
1. EV-to-EBIT is calculated as Enterprise Value divided by its EBIT.
National Fuel Gas Co's current Enterprise Value is $9,682 Mil.
National Fuel Gas Co's EBIT 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 $1,072 Mil.
2. EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA.
National Fuel Gas Co's current Enterprise Value is $9,682 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.
National Fuel Gas Co's current Enterprise Value is $9,682 Mil.
National Fuel Gas Co's Revenue 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 $2,508 Mil.
National Fuel Gas Co's current Enterprise Value is $9,682 Mil.
National Fuel Gas Co's Cash Flow from Operations 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 $1,283 Mil.
National Fuel Gas Co's current Enterprise Value is $9,682 Mil.
National Fuel Gas Co's Free Cash Flow 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 $307 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 Enterprise Value Related Terms
National Fuel Gas Co Enterprise Value Historical Data
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The historical data trend for National Fuel Gas Co's Enterprise Value 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.
NFG vs DEC, UNTC, SLNG: Enterprise Value Comparison
For the Oil & Gas Integrated subindustry, National Fuel Gas Co's Enterprise Value, along with its competitors' market caps and Enterprise Value 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 Enterprise Value vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, National Fuel Gas Co's Enterprise Value distribution charts can be found below:
* The bar in red indicates where National Fuel Gas Co's Enterprise Value falls into.
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
National Fuel Gas Co's Enterprise Value for the fiscal year that ended in Sep. 2025 is calculated as
* 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 Enterprise Value of $9,682 Mil as of Jun. 25, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on National Fuel Gas Co and its competitors.
Is National Fuel Gas Co's Enterprise Value too high?
National Fuel Gas Co's current Enterprise Value is $9,682 Mil. Overall, National Fuel Gas Co has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does National Fuel Gas Co's Enterprise Value compare to DEC and UNTC?
National Fuel Gas Co's Enterprise Value of $9,682 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Enterprise Value for an Oil & Gas company?
A good Enterprise Value depends on the Oil & Gas industry context. However, Enterprise Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on National Fuel Gas Co and its competitors. National Fuel Gas Co's current Enterprise Value is $9,682 Mil. 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 $78.57, compared to a current price of $76.63 — trading 2.5% below its estimated fair value. The current Enterprise Value is $9,682 Mil. National Fuel Gas Co's overall GF Score™ is 86/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For National Fuel Gas Co (NFG), the current Enterprise Value is $9,682 Mil as of Jun. 25, 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 undervalued.
The current stock price of $76.63 is trading 2.5% below its estimated GF Value™ of $78.57.
GuruFocus considers National Fuel Gas Co to be Fairly Valued.
Key valuation signals for NFG:
Enterprise Value: $9,682 Mil
GF Value™: $78.57 vs. price of $76.63 (2.5% below fair value)
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.
86GF Score
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