National Fuel Gas (NFG) Gross Margin (2009 - 2026)

National Fuel Gas has disclosed Gross Margin across 18 years of filings, most recently posting 75.79% for Q1 2026.

• Gross Margin for Q1 2026 came in at 75.79%, down 567.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 87.79% (down 311.0% YoY), and the FY2025 annual result was 90.63%, down 166.0% from the prior year.
• Gross Margin came in at 75.79% for Q1 2026 at National Fuel Gas, down from 86.86% in the prior quarter.
• In the past five years, Gross Margin ranged from a high of 104.67% in Q3 2024 to a low of 66.0% in Q1 2023.
• The 5-year median for Gross Margin is 88.11% (2024), against an average of 87.89%.
• Across the five-year window, Gross Margin sank 909 bps in 2022 and surged 1718 bps in 2024, its largest moves.
• National Fuel Gas' Gross Margin stood at 74.02% in 2022, then grew by 21 bps to 89.24% in 2023, then declined by 1 bps to 88.11% in 2024, then dropped by 1 bps to 86.86% in 2025, then declined by 13 bps to 75.79% in 2026.
• The last three Gross Margin figures came in at 75.79% (Q1 2026), 86.86% (Q4 2025), and 103.26% (Q3 2025), per Business Quant data.