National Fuel Gas (NFG) Net Margin (2016 - 2026)
National Fuel Gas' Net Margin was 25.79% in fiscal Q3 2026 (quarter ended Jun 30, 2026), down 2.38 percentage points from 28.17% a year earlier and down 3.06 percentage points from the prior quarter.
National Fuel Gas (NFG) Net Margin (2016 - 2026) Analysis & Trends
On a trailing twelve-month basis, National Fuel Gas' Net Margin was 26.86% through Jun 30, 2026, up 15.71 percentage points year-over-year; for FY2025 (ended Sep 30, 2025), it was 22.77%, up 18.78 percentage points from FY2024.
- Net Margin shows a five-year change of +30.77 percentage points (FY2020 to FY2025).
- In earlier fiscal years, Net Margin was 3.99% in FY2024 (-17.95 pp), 21.94% in FY2023 (-3.96 pp), 25.89% in FY2022 (+5.03 pp) and 20.87% in FY2021 (+28.87 pp).
- Quarterly Net Margin has moved between -45.05% (fiscal Q4 2024) and 36.34% (fiscal Q4 2022) over five years.
- Compared with a year earlier, Net Margin was higher in four of the last eight quarters, with an average year-over-year change of +5.85 percentage points.
- The best year-over-year quarter for Net Margin over five years was fiscal Q4 2021 (a gain of 74.97 percentage points); the worst was fiscal Q4 2024 (a drop of 65.02 percentage points).
- Per Business Quant data, NFG's Net Margin in the three fiscal quarters before Q3 2026 was 28.85% (Q2 2026), 27.88% (Q1 2026) and 23.02% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 744.22 Bn | 700.71 Bn | - | 12.52% |
| 2 | Chevron | 442.27 Bn | 414.39 Bn | 33.45 Bn | 17.23% |
| 3 | Shell | 308.83 Bn | 238.57 Bn | 30.13 Bn | 10.35% |
| 4 | TotalEnergies SE | 197.25 Bn | 77.83 Bn | 61.77 Bn | 8.80% |
| 5 | Conocophillips | 176.36 Bn | 149.07 Bn | 12.81 Bn | 20.14% |
| 6 | Equinor Asa | 119.62 Bn | 34.07 Bn | - | 9.17% |
| 7 | Phillips 66 | 116.49 Bn | 104.28 Bn | 8.38 Bn | 7.39% |
| 8 | Canadian Natural Resources | 113.27 Bn | 110.27 Bn | 8.84 Bn | 30.55% |
| 9 | Suncor Energy | 95.51 Bn | 81.26 Bn | - | 26.19% |
| 10 | National Fuel Gas | 7.43 Bn | 5.85 Bn | 507.62 Mn | 25.79% |
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% |
National Fuel Gas Net 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=net-margin&ticker=NFG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=NFG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();