Latest period
$976.83M
YoY change
-2.0%
5Y CAGR
-5.7%
Peak year (2020)
$1.22B
Cumulative CapEx
$17.48B
CapEx history chart for National Fuel Gas (NFG) from 1994 to 2025
Latest: $912.82M
CapEx growth chart for National Fuel Gas (NFG) from 1994 to 2025
Latest: -2.0%
CapEx history table for National Fuel Gas (NFG) from 1994 to 2025
| 2025 | $912.82M | -2.0% | −$18.41M | ||
| 2024 | $931.24M | -7.8% | −$78.63M | ||
| 2023 | $1.01B | +24.4% | +$198.04M | ||
| 2022 | $811.83M | +8.0% | +$60.09M | ||
| 2021 | $751.73M | -38.5% | −$470.68M | ||
| 2020 | $1.22B | +54.9% | +$433.47M | ||
| 2019 | $788.94M | +35.1% | +$204.93M | ||
| 2018 | $584.00M | +29.7% | +$133.67M | ||
| 2017 | $450.33M | -22.6% | −$131.24M | ||
| 2016 | $581.58M | -42.9% | −$436.60M | ||
| 2015 | $1.02B | +11.3% | +$103.76M | ||
| 2014 | $914.42M | +30.0% | +$210.96M | ||
| 2013 | $703.46M | -32.1% | −$333.32M | ||
| 2012 | $1.04B | +23.8% | +$199.17M | ||
| 2011 | $837.61M | +83.8% | +$381.85M | ||
| 2010 | $455.76M | +47.1% | +$145.83M | ||
| 2009 | $309.93M | -22.1% | −$87.80M | ||
| 2008 | $397.73M | +43.7% | +$121.01M | ||
| 2007 | $276.73M | -5.9% | −$17.43M | ||
| 2006 | $294.16M | +34.0% | +$74.63M | ||
| 2005 | $219.53M | +27.4% | +$47.19M | ||
| 2004 | $172.34M | +13.2% | +$20.09M | ||
| 2003 | $152.25M | -34.5% | −$80.12M | ||
| 2002 | $232.37M | -20.6% | −$60.34M | ||
| 2001 | $292.71M | +8.7% | +$23.34M | ||
| 2000 | $269.37M | +3.4% | +$8.87M | ||
| 1999 | $260.50M | -33.7% | −$132.70M | ||
| 1998 | $393.20M | +83.7% | +$179.20M | ||
| 1997 | $214.00M | +24.7% | +$42.40M | ||
| 1996 | $171.60M | -6.1% | −$11.20M | ||
| 1995 | $182.80M | +35.3% | +$47.70M | ||
| 1994 | $135.10M | — | — |
- 2025$912.82M-2.0%
- 2024$931.24M-7.8%
- 2023$1.01B+24.4%
- 2022$811.83M+8.0%
- 2021$751.73M-38.5%
- 2020$1.22B+54.9%
- 2019$788.94M+35.1%
- 2018$584.00M+29.7%
- 2017$450.33M-22.6%
- 2016$581.58M-42.9%
- 2015$1.02B+11.3%
- 2014$914.42M+30.0%
- 2013$703.46M-32.1%
- 2012$1.04B+23.8%
- 2011$837.61M+83.8%
- 2010$455.76M+47.1%
- 2009$309.93M-22.1%
- 2008$397.73M+43.7%
- 2007$276.73M-5.9%
- 2006$294.16M+34.0%
- 2005$219.53M+27.4%
- 2004$172.34M+13.2%
- 2003$152.25M-34.5%
- 2002$232.37M-20.6%
- 2001$292.71M+8.7%
- 2000$269.37M+3.4%
- 1999$260.50M-33.7%
- 1998$393.20M+83.7%
- 1997$214.00M+24.7%
- 1996$171.60M-6.1%
- 1995$182.80M+35.3%
- 1994$135.10M—
CapEx values are taken from National Fuel Gas's reported cash flow statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About CapEx at National Fuel Gas (NFG)
According to National Fuel Gas's latest reported financial statements, the company's current CapEx (TTM) is $976.83M. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
National Fuel Gas (NFG) most recent annual CapEx stands at $912.82M (2025) – edged down 2.0% year-over-year.
Through 2020–2025 (5 years), National Fuel Gas CapEx delivered a -5.7% annualised rate; with a net decline across the window.
Between 2020 and 2025, National Fuel Gas CapEx declined 25.3%, falling from $1.22B to $912.82M.
$1.22B stands as the all-time-high annual CapEx, posted in 2020, against a low of $135.10M during 1994.
National Fuel Gas Capital Expenditures by Year
National Fuel Gas Capital Expenditures 2025: $912.82M
In 2025, National Fuel Gas reported CapEx of $912.82M, edged down 2.0% below 2024.
National Fuel Gas Capital Expenditures 2024: $931.24M
National Fuel Gas CapEx in 2024 was $931.24M, declined 7.8% below 2023.
National Fuel Gas Capital Expenditures 2023: $1.01B
2023's CapEx for National Fuel Gas came in at $1.01B, grew 24.4% from 2022.
National Fuel Gas Capital Expenditures 2022: $811.83M
National Fuel Gas posted CapEx of $811.83M in 2022, grew 8.0% from 2021.
National Fuel Gas Capital Expenditures 2021: $751.73M
National Fuel Gas CapEx in 2021 was $751.73M.
See more financial history for National Fuel Gas (NFG).
Sector peers by CapEx
Energy peers of National Fuel Gas (NFG), ranked by their latest CapEx
| $28.36B | |
| $17.35B | |
| $8.83B | |
| $4.89B | |
| $3.49B | |
| $3.02B | |
| $1.69B | |
| $796.00M |
- $28.36B
- $17.35B
- $8.83B
- $4.89B
- $3.49B
- $3.02B
- $1.69B
- $796.00M
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