National Fuel Gas CoNFG +0.45%86 Pretax Margin % is 38.49% as of Mar. 2026, which is 49% above its 10-year median of 25.78. 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 88.65% on this metric.
The historical rank and industry rank for National Fuel Gas Co's Pretax Margin % or its related term are showing as below:
NFG'
s Pretax Margin % Range Over the Past 10 Years
Min: -36.04 Med: 25.78 Max: 36.74
Current: 36.74
NFG's Pretax Margin % is ranked better than 88.65% of 916
companies
in the Oil & Gas industry
Industry Median: 5.165
vs NFG: 36.74
National Fuel Gas Co (NYSE:NFG) Pretax Margin % Explanation
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
National Fuel Gas Co Pretax Margin % Related Terms
National Fuel Gas Co Pretax Margin % Historical Data
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The historical data trend for National Fuel Gas Co's Pretax 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.
NFG vs DEC, UNTC, SLNG: Pretax Margin % Comparison
For the Oil & Gas Integrated subindustry, National Fuel Gas Co's Pretax Margin %, along with its competitors' market caps and Pretax 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 Pretax Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, National Fuel Gas Co's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where National Fuel Gas Co's Pretax 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 Pretax Margin % of 38.49% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on National Fuel Gas Co and its competitors. This is 49% above median its historical median of 25.78. According to the industry distribution chart, National Fuel Gas Co ranks #104 out of 916 companies in the Oil & Gas industry, placing it in the top 11.4%.
Is National Fuel Gas Co's Pretax Margin % too high?
National Fuel Gas Co's current Pretax Margin % of 38.49% is 49% above median its 10-year median of 25.78. The Oil & Gas industry median Pretax Margin % is 5.17. National Fuel Gas Co's value of 38.49% is 645.2% above this industry median. Based on the distribution chart, National Fuel Gas Co ranks #104 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 Pretax Margin % compare to DEC and UNTC?
According to the Oil & Gas industry distribution chart, National Fuel Gas Co ranks #104 out of 916 companies for Pretax Margin %. This places National Fuel Gas Co in the top 11% of its industry — outperforming the majority of peers. The industry median Pretax Margin % is 5.17. National Fuel Gas Co's value of 38.49% is 645.2% above this benchmark. While the company's 10-year median is 25.78 vs. the industry median of 5.17, 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 Pretax Margin % for an Oil & Gas company?
The median Pretax Margin % among Oil & Gas companies is 5.17, based on 916 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Fuel Gas Co's current Pretax Margin % of 38.49% is 645.2% 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 Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on National Fuel Gas Co and its competitors. For the Oil & Gas industry, the median Pretax Margin % is 5.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Fuel Gas Co's current Pretax Margin % is 38.49%, which is 49% above median its own 10-year median of 25.78. 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 $76.98 — trading 2% below its estimated fair value. The current Pretax Margin % is 38.49%, which is 49% above median its 10-year median of 25.78 and 645.2% above the Oil & Gas industry median of 5.17. 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 Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For National Fuel Gas Co (NFG), the current Pretax Margin % is 38.49% 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 $76.98 is trading 2% below its estimated GF Value™ of $78.57.
GuruFocus considers National Fuel Gas Co to be Fairly Valued.
Key valuation signals for NFG:
Pretax Margin %: 38.49% (49% above median its 10-year median of 25.78)
GF Value™: $78.57 vs. price of $76.98 (2% below fair value)
Industry Position: 645.2% above the Oil & Gas median (#104 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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