National Fuel Gas (NFG) Gross Margin (2017 - 2026)
National Fuel Gas (NFG) posted Gross Margin of 94.44% for fiscal Q3 2026 (quarter ended Jun 30, 2026), down 0.30 percentage points from 94.74% a year earlier but up 18.66 percentage points from the prior quarter.
National Fuel Gas (NFG) Gross Margin (2017 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Gross Margin at National Fuel Gas was 87.74%, down 2.58 percentage points year-over-year; for FY2025 (ended Sep 30, 2025), it was 90.63%, down 1.66 percentage points from FY2024.
- Annual Gross Margin shows a five-year change of +5.75 percentage points (FY2020 to FY2025).
- In prior fiscal years, National Fuel Gas' Gross Margin was 92.28% in FY2024 (+12.41 pp), 79.87% in FY2023 (-2.19 pp), 82.06% in FY2022 (-8.08 pp) and 90.14% in FY2021 (+5.27 pp).
- Quarterly Gross Margin has run from a low of 66.00% in fiscal Q2 2023 to a high of 104.67% in fiscal Q4 2024 over five years.
- On a year-over-year basis, Gross Margin has declined in each of the last seven quarters, with an average year-over-year change of -1.80 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Gross Margin in the past five years was fiscal Q2 2024, with a gain of 17.18 percentage points; the weakest was fiscal Q2 2022, with a drop of 9.09 percentage points.
- According to Business Quant data, Gross Margin for the three prior fiscal quarters was 75.79% (Q2 2026), 86.86% (Q1 2026) and 103.26% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 744.22 Bn | 700.71 Bn | - | - |
| 2 | Chevron | 442.27 Bn | 414.39 Bn | 33.45 Bn | 47.75% |
| 3 | Shell | 308.83 Bn | 238.57 Bn | 30.13 Bn | 31.83% |
| 4 | TotalEnergies SE | 197.25 Bn | 77.83 Bn | 61.77 Bn | 100.00% |
| 5 | Conocophillips | 176.36 Bn | 149.07 Bn | 12.81 Bn | 65.62% |
| 6 | Equinor Asa | 119.62 Bn | 34.07 Bn | - | - |
| 7 | Phillips 66 | 116.49 Bn | 104.28 Bn | 8.38 Bn | 16.10% |
| 8 | Canadian Natural Resources | 113.27 Bn | 110.27 Bn | 8.84 Bn | 82.99% |
| 9 | Suncor Energy | 95.51 Bn | 81.26 Bn | - | - |
| 10 | National Fuel Gas | 7.43 Bn | 5.85 Bn | 507.62 Mn | 94.44% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 94.44% |
| Mar 31, 2026 | 75.79% |
| Dec 31, 2025 | 86.86% |
| Sep 30, 2025 | 103.26% |
| Jun 30, 2025 | 94.74% |
| Mar 31, 2025 | 81.46% |
| Dec 31, 2024 | 88.11% |
| Sep 30, 2024 | 104.67% |
| Jun 30, 2024 | 98.81% |
| Mar 31, 2024 | 83.18% |
| Dec 31, 2023 | 89.24% |
| Sep 30, 2023 | 103.49% |
| Jun 30, 2023 | 91.74% |
| Mar 31, 2023 | 66.00% |
| Dec 31, 2022 | 74.02% |
| Sep 30, 2022 | 94.73% |
| Jun 30, 2022 | 86.48% |
| Mar 31, 2022 | 71.56% |
| Dec 31, 2021 | 81.41% |
| Sep 30, 2021 | 101.46% |
National Fuel Gas Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=NFG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "NFG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=NFG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();