National Fuel Gas (NFG) Net Margin (2009 - 2026)
National Fuel Gas' (NFG) quarterly Net Margin came in at 25.79% in Q2 2026, down 238.0% year-over-year from 18.69% in Q2 2025, and down 10.62% quarter-over-quarter from 28.85% in Q1 2026.
Powered by 
Analysis
National Fuel Gas (NFG) Net Margin (2009 - 2026) Analysis & Trends
National Fuel Gas has disclosed Net Margin across 18 years of filings, most recently posting 25.79% for Q2 2026.
- In Q2 2026, Net Margin fell 238.0% year-over-year to 25.79%; the TTM figure through Jun 2026 stood at 26.86% (up 1571.0% YoY), while the FY2025 annual figure was 22.77%, up 1878.0% from the prior year.
- Net Margin came in at 25.79% for Q2 2026 at National Fuel Gas, down from 28.85% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 36.34% in Q3 2022 to a low of 45.05% in Q3 2024.
- Average Net Margin over 5 years is 18.55%, with a median of 24.58% recorded in 2023.
- Year-over-year, Net Margin tumbled 6502 bps in 2024 and soared 6807 bps in 2025.
- Over 5 years, Net Margin stood at 25.75% in 2022, then fell by 2 bps to 25.32% in 2023, then sank by 68 bps to 8.19% in 2024, then soared by 241 bps to 27.88% in 2025, then retreated by 7 bps to 25.79% in 2026.
- Per Business Quant data, the three most recent Net Margin figures were 25.79% in Q2 2026, 28.85% in Q1 2026, and 27.88% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 153.22 Bn | 145.53 Bn | 12.81 Bn | 20.14% |
| 2 | Canadian Natural Resources | 100.56 Bn | 98.67 Bn | 8.84 Bn | 32.66% |
| 3 | Eog Resources | 74.16 Bn | 69.25 Bn | - | 31.60% |
| 4 | Diamondback Energy | 53.10 Bn | 58.73 Bn | 5.55 Bn | 36.95% |
| 5 | Devon Energy | 52.37 Bn | 51.36 Bn | 6.02 Bn | 22.14% |
| 6 | Expand Energy | 20.29 Bn | 19.03 Bn | 2.33 Bn | 17.64% |
| 7 | Permian Resources | 18.41 Bn | 18.15 Bn | - | 42.65% |
| 8 | Ovintiv | 16.64 Bn | 15.76 Bn | 2.83 Bn | 15.13% |
| 9 | Apa | 15.35 Bn | 15.83 Bn | 2.28 Bn | 31.14% |
| 10 | National Fuel Gas | 7.60 Bn | 6.37 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% |
API Access
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();