National Fuel Gas (NFG) Net Margin (2009 - 2026)
National Fuel Gas (NFG) posted Net Margin of 25.79% for Q2 2026, down 10.62% sequentially from 28.85% in Q1 2026, and down 238.0% YoY from 18.69% in Q2 2025.
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Analysis
National Fuel Gas (NFG) Net Margin (2009 - 2026) Analysis & Trends
National Fuel Gas has reported Net Margin for 18 years, with the latest figure at 25.79% in Q2 2026.
- Quarterly Net Margin fell 238.0% year-over-year to 25.79% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 26.86% (up 1571.0% YoY) and the FY2025 annual result came in at 22.77%, up 1878.0% from the prior year.
- Net Margin slipped to 25.79% in Q2 2026 per NFG's latest filing, from 28.85% in the prior quarter.
- Over five years, Net Margin peaked at 36.34% in Q3 2022 and troughed at 45.05% in Q3 2024.
- A 5-year average of 18.55% and a median of 24.58% in 2023 frame the typical range for Net Margin.
- The sharpest annual moves came in 2024 and 2025: Net Margin plunged 6502 bps in 2024, then jumped 6807 bps in 2025.
- Over 5 years, Net Margin stood at 25.75% in 2022, then decreased by 2 bps to 25.32% in 2023, then tumbled by 68 bps to 8.19% in 2024, then surged by 241 bps to 27.88% in 2025, then slipped by 7 bps to 25.79% in 2026.
- According to Business Quant data, Net Margin over the past three periods registered 25.79%, 28.85%, and 27.88% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 517.27 Bn | 477.40 Bn | - | 11.43% |
| 2 | Chevron | 398.83 Bn | 395.97 Bn | 33.45 Bn | 17.41% |
| 3 | TotalEnergies SE | 190.54 Bn | 161.37 Bn | 23.46 Bn | 8.80% |
| 4 | Eni Spa | 166.18 Bn | 156.34 Bn | - | 229.40% |
| 5 | Equinor Asa | 103.49 Bn | 94.23 Bn | - | 9.17% |
| 6 | Suncor Energy | 78.09 Bn | 74.21 Bn | -8.45 Bn | -570.52% |
| 7 | Imperial Oil | 63.17 Bn | 61.11 Bn | - | 13.63% |
| 8 | Cenovus Energy | 59.48 Bn | 57.00 Bn | - | 16.47% |
| 9 | Gas Transporter Of The South | 21.19 Bn | -3,019.86 Bn | - | - |
| 10 | National Fuel Gas | 7.89 Bn | 6.65 Bn | 507.62 Mn | 25.79% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 25.79% |
| Mar 31, 2026 | 28.85% |
| Dec 31, 2025 | 27.88% |
| Sep 30, 2025 | 23.02% |
| Jun 30, 2025 | 28.17% |
| Mar 31, 2025 | 29.64% |
| Dec 31, 2024 | 8.19% |
| Sep 30, 2024 | -45.05% |
| Jun 30, 2024 | -12.97% |
| Mar 31, 2024 | 26.39% |
| Dec 31, 2023 | 25.32% |
| Sep 30, 2023 | 19.97% |
| Jun 30, 2023 | 21.60% |
| Mar 31, 2023 | 19.64% |
| Dec 31, 2022 | 25.75% |
| Sep 30, 2022 | 36.34% |
| Jun 30, 2022 | 21.52% |
| Mar 31, 2022 | 23.85% |
| Dec 31, 2021 | 24.22% |
| Sep 30, 2021 | 24.43% |