National Fuel Gas (NFG) Gross Margin (2017 - 2026)
National Fuel Gas (NFG) posted Gross Margin of 94.44% for Q2 2026, up 24.62% sequentially from 75.79% in Q1 2026, and down 30.0% YoY from 134.92% in Q2 2025.
National Fuel Gas (NFG) Gross Margin (2017 - 2026) Analysis & Trends
National Fuel Gas has reported Gross Margin for 10 years, with the latest figure at 94.44% in Q2 2026.
- Quarterly Gross Margin fell 30.0% year-over-year to 94.44% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 87.74% (down 258.0% YoY) and the FY2025 annual result came in at 90.63%, down 166.0% from the prior year.
- Gross Margin rose to 94.44% in Q2 2026 per NFG's latest filing, from 75.79% in the prior quarter.
- Over five years, Gross Margin peaked at 104.67% in Q3 2024 and troughed at 66.0% in Q1 2023.
- A 5-year average of 88.25% and a median of 88.67% in 2023 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2022 and 2024: Gross Margin sank 909 bps in 2022, then jumped 1718 bps in 2024.
- Over 5 years, Gross Margin stood at 74.02% in 2022, then rose by 21 bps to 89.24% in 2023, then retreated by 1 bps to 88.11% in 2024, then fell by 1 bps to 86.86% in 2025, then advanced by 9 bps to 94.44% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 94.44%, 75.79%, and 86.86% for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Petrobras - Petroleo Brasileiro | 1,308.33 Bn | -5,263.99 Bn | 11.34 Bn | 48.18% |
| 2 | ExxonMobil Holdings | 651.52 Bn | 649.70 Bn | - | - |
| 3 | Chevron | 382.50 Bn | 382.83 Bn | 20.34 Bn | 41.85% |
| 4 | Eni Spa | 205.81 Bn | 195.97 Bn | - | - |
| 5 | Shell | 102.19 Bn | 62.32 Bn | 30.13 Bn | 31.83% |
| 6 | Equinor Asa | 98.30 Bn | 89.04 Bn | - | - |
| 7 | Suncor Energy | 78.77 Bn | 76.39 Bn | 6.68 Bn | 59.43% |
| 8 | Imperial Oil | 61.22 Bn | 60.47 Bn | - | - |
| 9 | TotalEnergies SE | 25.61 Bn | -6.11 Bn | 18.79 Bn | 32.91% |
| 10 | National Fuel Gas | 7.86 Bn | 6.63 Bn | 507.62 Mn | 94.44% |
Historic Data
Download 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% |