National Fuel Gas CoNFG -0.57%86 Net Margin % is 28.85% as of Mar. 2026, which is 49% above its 10-year median of 19.42. 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 916 Oil & Gas companies, National Fuel Gas Co ranks better than 88.21% on this metric.
The historical rank and industry rank for National Fuel Gas Co's Net Margin % or its related term are showing as below:
NFG'
s Net Margin % Range Over the Past 10 Years
Min: -20.03 Med: 19.42 Max: 27.37
Current: 27.37
NFG's Net Margin % is ranked better than 88.21% of 916
companies
in the Oil & Gas industry
Industry Median: 3.435
vs NFG: 27.37
National Fuel Gas Co (NYSE:NFG) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
National Fuel Gas Co Net Margin % Related Terms
National Fuel Gas Co Net Margin % Historical Data
* Premium members only.
The historical data trend for National Fuel Gas Co's Net 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 Net Margin %, along with its competitors' market caps and Net 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 Net Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, National Fuel Gas Co's Net Margin % distribution charts can be found below:
* The bar in red indicates where National Fuel Gas Co's Net 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 Net Margin % of 28.85% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on National Fuel Gas Co and its competitors. This is 49% above median its historical median of 19.42. According to the industry distribution chart, National Fuel Gas Co ranks #108 out of 916 companies in the Oil & Gas industry, placing it in the top 11.8%.
Is National Fuel Gas Co's Net Margin % too high?
National Fuel Gas Co's current Net Margin % of 28.85% is 49% above median its 10-year median of 19.42. The Oil & Gas industry median Net Margin % is 3.44. National Fuel Gas Co's value of 28.85% is 739.9% above this industry median. Based on the distribution chart, National Fuel Gas Co ranks #108 out of 916 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 Net Margin % compare to DEC and UNTC?
According to the Oil & Gas industry distribution chart, National Fuel Gas Co ranks #108 out of 916 companies for Net Margin %. This places National Fuel Gas Co in the top 12% of its industry — outperforming the majority of peers. The industry median Net Margin % is 3.44. National Fuel Gas Co's value of 28.85% is 739.9% above this benchmark. While the company's 10-year median is 19.42 vs. the industry median of 3.44, 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 Net Margin % for an Oil & Gas company?
The median Net Margin % among Oil & Gas companies is 3.44, based on 916 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Fuel Gas Co's current Net Margin % of 28.85% is 739.9% 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on National Fuel Gas Co and its competitors. For the Oil & Gas industry, the median Net Margin % is 3.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Fuel Gas Co's current Net Margin % is 28.85%, which is 49% above median its own 10-year median of 19.42. 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 Net Margin % is 28.85%, which is 49% above median its 10-year median of 19.42 and 739.9% above the Oil & Gas industry median of 3.44. 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 Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For National Fuel Gas Co (NFG), the current Net Margin % is 28.85% 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:
Net Margin %: 28.85% (49% above median its 10-year median of 19.42)
GF Value™: $78.57 vs. price of $76.63 (2.5% below fair value)
Industry Position: 739.9% above the Oil & Gas median (#108 of 916)
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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