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FCF Margin for National Fuel Gas (NFG)

As of · Reported

Metric

TTM

12.3%

YoY change

+1.29pp

Trough year (2020)

-31.1%

Peak year (2017)

14.8%

FCF Margin history chart for National Fuel Gas (NFG) from 1994 to 2025

Latest: 8.2%

FCF Margin change chart for National Fuel Gas (NFG) from 1994 to 2025

Latest: +1.29pp

FCF Margin history table for National Fuel Gas (NFG) from 1994 to 2025

  • 20258.2%+1.29pp
  • 20246.9%-3.52pp
  • 202310.5%+10.42pp
  • 20220.0%-2.25pp
  • 20212.3%+33.43pp
  • 2020-31.1%-25.57pp
  • 2019-5.6%-7.54pp
  • 20182.0%-12.86pp
  • 201714.8%+14.31pp
  • 20160.5%+9.86pp
  • 2015-9.3%-9.11pp
  • 2014-0.2%-2.16pp
  • 20131.9%+25.03pp
  • 2012-23.1%-14.10pp
  • 2011-9.0%-9.24pp
  • 20100.2%-14.38pp
  • 200914.6%+11.06pp
  • 20083.5%-2.22pp
  • 20075.8%-2.15pp
  • 20067.9%+2.66pp
  • 20055.3%-8.62pp
  • 200413.9%+4.79pp
  • 20039.1%+1.36pp
  • 20027.7%+1.83pp
  • 20015.9%+8.10pp
  • 2000-2.2%-3.11pp
  • 19990.9%+12.14pp
  • 1998-11.2%-17.61pp
  • 19976.4%+6.63pp
  • 1996-0.3%+0.70pp
  • 1995-1.0%-6.57pp
  • 19945.6%—

FCF Margin values are taken from National Fuel Gas's reported income 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 FCF Margin at National Fuel Gas (NFG)

According to National Fuel Gas's latest reported financial statements, the company's latest reported free cash flow margin is 12.3%. Free cash flow margin is free cash flow divided by revenue — the share of each sales dollar that converts into cash after capital expenditures. Because free cash flow cannot be inflated by non-cash accounting, FCF margin is a clean read on how efficiently a business turns revenue into deployable cash.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

As of the 2025 fiscal year, National Fuel Gas (NFG) reported free cash flow margin of 8.22% – expanded 1.3 percentage points year-over-year.

The highest annual free cash flow margin of 14.82% was reported in 2017. The lowest in the available history was -31.15% in 2020.

National Fuel Gas FCF Margin by Year

National Fuel Gas FCF Margin 2025: 8.2%

National Fuel Gas free cash flow margin in 2025 was 8.22%, expanded 1.3 percentage points from 2024.

National Fuel Gas FCF Margin 2024: 6.9%

2024's free cash flow margin for National Fuel Gas came in at 6.93%, contracted 3.5 percentage points from 2023.

National Fuel Gas FCF Margin 2023: 10.5%

National Fuel Gas posted free cash flow margin of 10.45% in 2023, expanded 10.4 percentage points from 2022.

National Fuel Gas FCF Margin 2022: 0.0%

In 2022, National Fuel Gas reported free cash flow margin of 0.03%, contracted 2.3 percentage points from 2021.

National Fuel Gas FCF Margin 2021: 2.3%

National Fuel Gas free cash flow margin in 2021 was 2.28%.

See more financial history for National Fuel Gas (NFG).

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Energy peers of National Fuel Gas (NFG), ranked by their latest free cash flow margin

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