National Fuel Gas Co's quarterly market cap
declined
from Sep. 2025 ($8,348 Mil) to Dec. 2025 ($7,607 Mil) but then
increased
from Dec. 2025 ($7,607 Mil) to Mar. 2026 ($8,929 Mil).
National Fuel Gas Co's annual market cap
increased
from Sep. 2023 ($4,766 Mil) to Sep. 2024 ($5,516 Mil) and
increased
from Sep. 2024 ($5,516 Mil) to Sep. 2025 ($8,348 Mil).
Enterprise Value is 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 and cash equivalents. National Fuel Gas Co's Enterprise Value for Today is $9,682 Mil.
National Fuel Gas Co (NYSE:NFG) Market Cap Explanation
Market cap is not the real price you pay for a company. If you buy the company and become its owner, you become the owner of the cash the company has, and you also assume the companys debt. The real price you pay is the Enterprise Value.
Warren Buffett uses the ratio of total market cap of all public traded companies over GDP to measure if the market is expensive. As of April 2012, the US total market cap is about $14.7 trillion, while the US GDP is about $15 trillion. The market was modestly overvalued.
National Fuel Gas Co Market Cap Related Terms
National Fuel Gas Co Market Cap Historical Data
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The historical data trend for National Fuel Gas Co's Market Cap 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 Market Cap, along with its competitors' market caps and Market Cap 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 Market Cap vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, National Fuel Gas Co's Market Cap distribution charts can be found below:
* The bar in red indicates where National Fuel Gas Co's Market Cap falls into.
Market cap is the short version of market capitalization. It is the total market value to buy the whole company. It is equal to the share price times the number of shares outstanding.
National Fuel Gas Co's Market Cap 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 Market Cap of $7,283 Mil as of Jun. 25, 2026. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on National Fuel Gas Co and its competitors. According to the industry distribution chart, National Fuel Gas Co ranks #108 out of 1043 companies in the Oil & Gas industry, placing it in the top 10.4%.
Is National Fuel Gas Co's Market Cap too high?
National Fuel Gas Co's current Market Cap is $7,283 Mil. The Oil & Gas industry median Market Cap is 210.36. National Fuel Gas Co's value of $7,283 Mil is 3362.2% above this industry median. Based on the distribution chart, National Fuel Gas Co ranks #108 out of 1043 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. 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 Market Cap compare to DEC and UNTC?
According to the Oil & Gas industry distribution chart, National Fuel Gas Co ranks #108 out of 1043 companies for Market Cap. This places National Fuel Gas Co in the top 10% of its industry — outperforming the majority of peers. The industry median Market Cap is 210.36. National Fuel Gas Co's value of $7,283 Mil is 3362.2% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Market Cap for an Oil & Gas company?
The median Market Cap among Oil & Gas companies is 210.36, based on 1,043 companies in the industry. Companies in the top quartile (top 25%) have a Market Cap significantly above this median, while those in the bottom quartile fall well below. However, Market Cap should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Fuel Gas Co's current Market Cap of $7,283 Mil is 3362.2% 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 Market Cap mean?
A high Market Cap can signal that a stock is expensive relative to its fundamentals. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on National Fuel Gas Co and its competitors. For the Oil & Gas industry, the median Market Cap is 210.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Fuel Gas Co's current Market Cap is $7,283 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 Market Cap is $7,283 Mil and 3362.2% above the Oil & Gas industry median of 210.36. 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 Market Cap calculated?
Market Cap is calculated from a company's financial statements. For National Fuel Gas Co (NFG), the current Market Cap is $7,283 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:
Market Cap: $7,283 Mil
GF Value™: $78.57 vs. price of $76.63 (2.5% below fair value)
Industry Position: 3362.2% above the Oil & Gas median (#108 of 1043)
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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