Operating Income for National Fuel Gas (NFG)
According to National Fuel Gas's latest reported financial statements, the company's current operating income (TTM) is $1.00B USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
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TTM (last 4 quarters)
$1.00B
YoY change
+287.9%
5Y CAGR
+93.7%
Peak year (1993)
$1.02B
Cumulative operating income
$18.65B
Operating Income history chart for National Fuel Gas (NFG) from 1985 to 2025
Operating Income history table for National Fuel Gas (NFG) from 1985 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | $813.46M | +287.9% | ||
| 2024 | $209.72M | -72.2% | ||
| 2023 | $755.15M | -7.3% | ||
| 2022 | $814.52M | +27.3% | ||
| 2021 | $639.92M | +2043.2% | ||
| 2020 | $29.86M | -94.2% | ||
| 2019 | $511.81M | -1.5% | ||
| 2018 | $519.72M | -12.5% | ||
| 2017 | $593.78M | -242.6% | ||
| 2016 | -$416.52M | -31.8% | ||
| 2015 | -$611.05M | -207.3% | ||
| 2014 | $569.67M | +10.0% | ||
| 2013 | $517.84M | +15.6% | ||
| 2012 | $448.05M | +1.6% | ||
| 2011 | $441.16M | +0.2% | ||
| 2010 | $440.45M | +93.5% | ||
| 2009 | $227.59M | -53.2% | ||
| 2008 | $486.13M | +22.6% | ||
| 2007 | $396.50M | +11.5% | ||
| 2006 | $355.62M | +25.2% | ||
| 2005 | $284.03M | -14.7% | ||
| 2004 | $333.12M | -17.3% | ||
| 2003 | $402.63M | +39.4% | ||
| 2002 | $288.86M | +45.4% | ||
| 2001 | $198.66M | -33.3% | ||
| 2000 | $297.71M | +15.9% | ||
| 1999 | $256.87M | +137.8% | ||
| 1998 | $108.00M | -54.4% | ||
| 1997 | $237.00M | +5.9% | ||
| 1996 | $223.70M | +32.9% | ||
| 1995 | $168.30M | -3.1% | ||
| 1994 | $173.60M | -83.0% | ||
| 1993 | $1.02B | +10.9% | ||
| 1992 | $919.80M | +6.3% | ||
| 1991 | $865.10M | -3.0% | ||
| 1990 | $892.00M | +4.2% | ||
| 1989 | $855.80M | +11.3% | ||
| 1988 | $768.90M | +4.3% | ||
| 1987 | $737.20M | -18.6% | ||
| 1986 | $905.80M | -6.7% | ||
| 1985 | $970.60M | — |
Operating Income values are taken from National Fuel Gas's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
The 2025 reading of National Fuel Gas (NFG) operating income is $813.46M – surged 287.9% year-over-year.
Through 2020–2025 (5 years), National Fuel Gas operating income delivered a +93.7% annualised rate; with the latest reading among the more recent periods of the dataset.
National Fuel Gas operating income peaked at $1.02B in 1993; the latest annual figure is $813.46M in 2025 (20.3% below peak).
The highest annual operating income of $1.02B was reported in 1993. The lowest in the available history was -$611.05M in 2015.
Within Energy, National Fuel Gas (NFG) ranks 9th among 8 peers we track. The peer median for operating income is $9.44B.
National Fuel Gas Operating Income by Year
National Fuel Gas Operating Income 2025: $813.46M
National Fuel Gas operating income in 2025 was $813.46M, surged 287.9% from 2024.
National Fuel Gas Operating Income 2024: $209.72M
National Fuel Gas operating income in 2024 was $209.72M, plunged 72.2% below 2023.
National Fuel Gas Operating Income 2023: $755.15M
National Fuel Gas operating income in 2023 was $755.15M, declined 7.3% below 2022.
National Fuel Gas Operating Income 2022: $814.52M
National Fuel Gas operating income in 2022 was $814.52M, grew 27.3% from 2021.
National Fuel Gas Operating Income 2021: $639.92M
National Fuel Gas operating income in 2021 was $639.92M.
See more financial history for National Fuel Gas (NFG).
Sector peers — Operating Income
Companies in the same sector as National Fuel Gas, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| Exxon Mobil Corporation (XOM) | $33.94B | Energy |
| Chevron Corporation (CVX) | $16.67B | Energy |
| ConocoPhillips (COP) | $11.49B | Energy |
| Enbridge Inc. (ENB) | $10.96B | Energy |
| EOG Resources, Inc. (EOG) | $7.93B | Energy |
| SLB N.V. (SLB) | $5.46B | Energy |
| The Williams Companies, Inc. (WMB) | $4.40B | Energy |
| Valero Energy Corporation (VLO) | $4.31B | Energy |
Frequently asked questions
What is National Fuel Gas's operating income?
- Latest reported operating income for National Fuel Gas (NFG) is $1.00B (period ending December 31, 2025).
How has National Fuel Gas operating income changed year-over-year?
- National Fuel Gas (NFG) operating income changed +287.9% year-over-year on the latest annual filing.
What is the long-term growth rate of National Fuel Gas operating income?
- National Fuel Gas (NFG) operating income compound annual growth rate is +93.7% over the most recent 5 years available.
When did National Fuel Gas operating income hit its highest annual value?
- National Fuel Gas operating income reached its highest annual value of $1.02B in 1993.
What was National Fuel Gas operating income in 2024?
- National Fuel Gas (NFG) operating income in 2024 was $209.72M.
What was National Fuel Gas operating income in 2025?
- National Fuel Gas (NFG) operating income in 2025 was $813.46M.
Metrics overview
Pick a metric for charts, filings, and peers — each row shows the latest TTM or annual value with year-over-year change.
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