TTM
50.0%
YoY change
+24.09pp
Trough year (2011)
29.4%
Peak year (2025)
66.1%
Latest annual
66.1%
Gross Margin history chart for National Fuel Gas (NFG) from 1994 to 2025
Latest: 66.1%
Gross Margin change chart for National Fuel Gas (NFG) from 1994 to 2025
Latest: +24.09pp
Gross Margin history table for National Fuel Gas (NFG) from 1994 to 2025
| 2025 | 66.1% | +24.09pp | ||
| 2024 | 42.0% | +3.04pp | ||
| 2023 | 39.0% | -2.30pp | ||
| 2022 | 41.3% | -2.29pp | ||
| 2021 | 43.6% | +6.88pp | ||
| 2020 | 36.7% | +1.24pp | ||
| 2019 | 35.5% | -2.46pp | ||
| 2018 | 37.9% | -5.03pp | ||
| 2017 | 43.0% | +0.72pp | ||
| 2016 | 42.2% | +7.90pp | ||
| 2015 | 34.3% | +3.09pp | ||
| 2014 | 31.3% | -1.56pp | ||
| 2013 | 32.8% | -0.28pp | ||
| 2012 | 33.1% | +3.69pp | ||
| 2011 | 29.4% | -33.20pp | ||
| 2010 | 62.6% | +11.21pp | ||
| 2009 | 51.4% | +2.85pp | ||
| 2008 | 48.5% | -1.54pp | ||
| 2007 | 50.1% | +6.68pp | ||
| 2006 | 43.4% | -5.01pp | ||
| 2005 | 48.4% | -1.82pp | ||
| 2004 | 50.2% | +0.38pp | ||
| 2003 | 49.9% | -15.08pp | ||
| 2002 | 64.9% | +16.27pp | ||
| 2001 | 48.7% | -12.87pp | ||
| 2000 | 61.5% | -1.92pp | ||
| 1999 | 63.5% | +1.86pp | ||
| 1998 | 61.6% | +3.47pp | ||
| 1997 | 58.1% | -2.34pp | ||
| 1996 | 60.5% | -3.54pp | ||
| 1995 | 64.0% | +7.62pp | ||
| 1994 | 56.4% | — |
- 202566.1%+24.09pp
- 202442.0%+3.04pp
- 202339.0%-2.30pp
- 202241.3%-2.29pp
- 202143.6%+6.88pp
- 202036.7%+1.24pp
- 201935.5%-2.46pp
- 201837.9%-5.03pp
- 201743.0%+0.72pp
- 201642.2%+7.90pp
- 201534.3%+3.09pp
- 201431.3%-1.56pp
- 201332.8%-0.28pp
- 201233.1%+3.69pp
- 201129.4%-33.20pp
- 201062.6%+11.21pp
- 200951.4%+2.85pp
- 200848.5%-1.54pp
- 200750.1%+6.68pp
- 200643.4%-5.01pp
- 200548.4%-1.82pp
- 200450.2%+0.38pp
- 200349.9%-15.08pp
- 200264.9%+16.27pp
- 200148.7%-12.87pp
- 200061.5%-1.92pp
- 199963.5%+1.86pp
- 199861.6%+3.47pp
- 199758.1%-2.34pp
- 199660.5%-3.54pp
- 199564.0%+7.62pp
- 199456.4%—
Gross 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 Gross Margin at National Fuel Gas (NFG)
According to National Fuel Gas's latest reported financial statements, the company's latest reported gross margin is 50.0%. Gross margin is gross profit divided by revenue, expressed as a percentage. It shows how much of each sales dollar survives the direct cost of goods sold — before operating expenses, interest, and taxes. A higher gross margin generally signals pricing power and production efficiency. Margins are most meaningful compared against sector peers and a company's own history.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
In 2025, National Fuel Gas (NFG) gross margin totalled 66.13% – expanded 24.1 percentage points year-over-year.
66.13% stands as the all-time-high annual gross margin, posted in 2025, against a low of 29.40% during 2011.
National Fuel Gas Gross Margin by Year
National Fuel Gas Gross Margin 2025: 66.1%
In 2025, National Fuel Gas reported gross margin of 66.13%, expanded 24.1 percentage points from 2024. This figure represents the highest annual value in the available history.
National Fuel Gas Gross Margin 2024: 42.0%
National Fuel Gas gross margin in 2024 was 42.05%, expanded 3.0 percentage points from 2023.
National Fuel Gas Gross Margin 2023: 39.0%
2023's gross margin for National Fuel Gas came in at 39.00%, contracted 2.3 percentage points from 2022.
National Fuel Gas Gross Margin 2022: 41.3%
National Fuel Gas posted gross margin of 41.31% in 2022, contracted 2.3 percentage points from 2021.
National Fuel Gas Gross Margin 2021: 43.6%
National Fuel Gas gross margin in 2021 was 43.60%.
See more financial history for National Fuel Gas (NFG).
Sector peers by Gross Margin
Energy peers of National Fuel Gas (NFG), ranked by their latest gross margin
| 62.8% | |
| 30.7% | |
| 29.2% | |
| 25.5% | |
| 25.4% | |
| 17.3% | |
| 8.8% | |
| 7.2% |
- 30.7%
- 29.2%
- 25.5%
- 25.4%
- 17.3%
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National Fuel Gas (NFG) Key Financials
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