National Fuel Gas CoNFG -0.57%86 FCF Margin % is 18.84% as of Mar. 2026, which is 785% above its 10-year median of 2.13. GuruFocus rates NFG with a GF Score™ of 86/100 and a GF Value™ of $78.57 (Fairly Valued). The stock has 1 warning sign investors should review. Among 905 Oil & Gas companies, National Fuel Gas Co ranks better than 72.71% on this metric.
The historical rank and industry rank for National Fuel Gas Co's FCF Margin % or its related term are showing as below:
NFG'
s FCF Margin % Range Over the Past 10 Years
Min: -31.15 Med: 2.13 Max: 14.82
Current: 12.23
During the past 13 years, the highest FCF Margin % of National Fuel Gas Co was 14.82%. The lowest was -31.15%. And the median was 2.13%.
NFG's FCF Margin % is ranked better than 72.71% of 905
companies
in the Oil & Gas industry
Industry Median: 3.31
vs NFG: 12.23
National Fuel Gas Co FCF Margin % Related Terms
National Fuel Gas Co FCF Margin % Historical Data
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The historical data trend for National Fuel Gas Co's FCF Margin % 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 FCF Margin %, along with its competitors' market caps and FCF Margin % 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 FCF Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, National Fuel Gas Co's FCF Margin % distribution charts can be found below:
* The bar in red indicates where National Fuel Gas Co's FCF Margin % falls into.
* 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 FCF Margin % of 18.84% as of Mar. 2026. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on National Fuel Gas Co and its competitors. This is 785% above median its historical median of 2.13. According to the industry distribution chart, National Fuel Gas Co ranks #247 out of 905 companies in the Oil & Gas industry, placing it in the top 27.3%.
Is National Fuel Gas Co's FCF Margin % too high?
National Fuel Gas Co's current FCF Margin % of 18.84% is 785% above median its 10-year median of 2.13. The Oil & Gas industry median FCF Margin % is 3.31. National Fuel Gas Co's value of 18.84% is 469.2% above this industry median. Based on the distribution chart, National Fuel Gas Co ranks #247 out of 905 companies in the Oil & Gas industry, which is above the industry midpoint. 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 FCF Margin % compare to DEC and UNTC?
According to the Oil & Gas industry distribution chart, National Fuel Gas Co ranks #247 out of 905 companies for FCF Margin %. This puts National Fuel Gas Co in the upper half of its industry. The industry median FCF Margin % is 3.31. National Fuel Gas Co's value of 18.84% is 469.2% above this benchmark. While the company's 10-year median is 2.13 vs. the industry median of 3.31, 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 FCF Margin % for an Oil & Gas company?
The median FCF Margin % among Oil & Gas companies is 3.31, based on 905 companies in the industry. Companies in the top quartile (top 25%) have a FCF Margin % significantly above this median, while those in the bottom quartile fall well below. However, FCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Fuel Gas Co's current FCF Margin % of 18.84% is 469.2% 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 FCF Margin % mean?
A high FCF Margin % can signal that a stock is expensive relative to its fundamentals. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on National Fuel Gas Co and its competitors. For the Oil & Gas industry, the median FCF Margin % is 3.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Fuel Gas Co's current FCF Margin % is 18.84%, which is 785% above median its own 10-year median of 2.13. 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 FCF Margin % is 18.84%, which is 785% above median its 10-year median of 2.13 and 469.2% above the Oil & Gas industry median of 3.31. 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 FCF Margin % calculated?
FCF Margin % is calculated from a company's financial statements. For National Fuel Gas Co (NFG), the current FCF Margin % is 18.84% as of Mar. 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:
FCF Margin %: 18.84% (785% above median its 10-year median of 2.13)
GF Value™: $78.57 vs. price of $76.63 (2.5% below fair value)
Industry Position: 469.2% above the Oil & Gas median (#247 of 905)
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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