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National Fuel Gas CoNFG -0.25%85 Shiller PE Ratio is 18.60 as of Sep. 07, 2026, which is 37% below its 10-year median of 29.39. GuruFocus rates NFG with a GF Score™ of 85/100 and a GF Value™ of $79.84 (Fairly Valued). The stock has 2 warning signs investors should review. Among 440 Oil & Gas companies, National Fuel Gas Co ranks worse than 52.5% on this metric.
The historical rank and industry rank for National Fuel Gas Co's Shiller PE Ratio or its related term are showing as below:
NFG'
s Shiller PE Ratio Range Over the Past 10 Years
Min: 16.83 Med: 29.39 Max: 41.47
Current: 18.62
During the past years, National Fuel Gas Co's highest Shiller PE Ratio was 41.47. The lowest was 16.83. And the median was 29.39.
NFG's Shiller PE Ratio is ranked worse than 52.5% of 440
companies
in the Oil & Gas industry
Industry Median: 18.115
vs NFG: 18.62
E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.
National Fuel Gas Co's adjusted earnings per share data for the three months ended in Jun. 2026 was $1.450. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $4.48 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
National Fuel Gas Co (NYSE:NFG) Shiller PE Ratio Explanation
Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.
Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.
Be Aware
Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.
National Fuel Gas Co Shiller PE Ratio Related Terms
National Fuel Gas Co Shiller PE Ratio Historical Data
* Premium members only.
The historical data trend for National Fuel Gas Co's Shiller PE Ratio 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, SLNG, SKYQ: Shiller PE Ratio Comparison
For the Oil & Gas Integrated subindustry, National Fuel Gas Co's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio 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 Shiller PE Ratio vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, National Fuel Gas Co's Shiller PE Ratio distribution charts can be found below:
* The bar in red indicates where National Fuel Gas Co's Shiller PE Ratio falls into.
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.
* 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.
Add all the adjusted EPS together and divide 10 will get our E10.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
National Fuel Gas Co (NFG) has a Shiller PE Ratio of 18.60 as of Sep. 07, 2026. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on National Fuel Gas Co and its competitors. This is 37% below median its historical median of 29.39. Over the past decade, National Fuel Gas Co's Shiller PE Ratio has ranged from 16.83 to 41.47. According to the industry distribution chart, National Fuel Gas Co ranks #231 out of 440 companies in the Oil & Gas industry, placing it in the top 52.5%.
Is National Fuel Gas Co's Shiller PE Ratio too high?
National Fuel Gas Co's current Shiller PE Ratio of 18.60 is 37% below median its 10-year median of 29.39. Over the past 10 years, this metric has ranged from a low of 16.83 to a high of 41.47. The Oil & Gas industry median Shiller PE Ratio is 18.12. National Fuel Gas Co's value of 18.60 is 2.7% above this industry median. Based on the distribution chart, National Fuel Gas Co ranks #231 out of 440 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, National Fuel Gas Co has a GF Score™ of 85/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does National Fuel Gas Co's Shiller PE Ratio compare to DEC and SLNG?
According to the Oil & Gas industry distribution chart, National Fuel Gas Co ranks #231 out of 440 companies for Shiller PE Ratio. This places National Fuel Gas Co in the lower half of its industry. The industry median Shiller PE Ratio is 18.12. National Fuel Gas Co's value of 18.60 is 2.7% above this benchmark. Historically, National Fuel Gas Co's own Shiller PE Ratio has ranged from 16.83 to 41.47 over the past decade. While the company's 10-year median is 29.39 vs. the industry median of 18.12, 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 Shiller PE Ratio for an Oil & Gas company?
The median Shiller PE Ratio among Oil & Gas companies is 18.12, based on 440 companies in the industry. Companies in the top quartile (top 25%) have a Shiller PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Shiller PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Fuel Gas Co's current Shiller PE Ratio of 18.60 is 2.7% 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 Shiller PE Ratio mean?
A high Shiller PE Ratio can signal that a stock is expensive relative to its fundamentals. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on National Fuel Gas Co and its competitors. For the Oil & Gas industry, the median Shiller PE Ratio is 18.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Fuel Gas Co's current Shiller PE Ratio is 18.60, which is 37% below median its own 10-year median of 29.39. 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 $79.84, compared to a current price of $83.32 — trading 4.4% above its estimated fair value. The current Shiller PE Ratio is 18.60, which is 37% below median its 10-year median of 29.39 and 2.7% above the Oil & Gas industry median of 18.12. National Fuel Gas Co's overall GF Score™ is 85/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shiller PE Ratio calculated?
Shiller PE Ratio is calculated from a company's financial statements. For National Fuel Gas Co (NFG), the current Shiller PE Ratio is 18.60 as of Sep. 07, 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 overvalued.
The current stock price of $83.32 is trading 4.4% above its estimated GF Value™ of $79.84.
GuruFocus considers National Fuel Gas Co to be Fairly Valued.
Key valuation signals for NFG:
Shiller PE Ratio: 18.60 (37% below median its 10-year median of 29.39)
GF Value™: $79.84 vs. price of $83.32 (4.4% above fair value)
Industry Position: 2.7% above the Oil & Gas median (#231 of 440)
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.
85GF Score
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