P/FCF Ratio for National Fuel Gas (NFG)

National Fuel Gas (NFG) P/FCF ratio is 24.2× as of June 5, 2026. The 5-year average is 550.7×. The sector median currently stands at 19.3×. The current ratio is at the 15th percentile of its own 10-year history.

National Fuel Gas (NFG) historical P/FCF ratio has ranged from a low of 7.6× (2003) to a high of 8788.0× (2022) in the available daily series.

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.