National Fuel Gas (NFG) Return on Capital Employed [ROCE] (2011 - 2026)
National Fuel Gas' Return on Capital Employed [ROCE] came in at 10.90% for fiscal Q3 2026 (quarter ended Jun 30, 2026), up 5.13 percentage points from 5.77% a year earlier but down 1.48 percentage points from the prior quarter.
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Analysis
National Fuel Gas (NFG) Return on Capital Employed [ROCE] (2011 - 2026) Analysis & Trends
For FY2025 (ended Sep 30, 2025), National Fuel Gas' Return on Capital Employed [ROCE] was 10.71%, up 7.80 percentage points from FY2024.
- Return on Capital Employed [ROCE] carries a five-year change of +10.23 percentage points (FY2020 to FY2025).
- Going back by fiscal year, Return on Capital Employed [ROCE] was 2.91% in FY2024 (-7.46 pp), 10.37% in FY2023 (-3.83 pp), 14.20% in FY2022 (+3.49 pp) and 10.70% in FY2021 (+10.23 pp).
- The five-year range for quarterly Return on Capital Employed [ROCE] is 1.25% (fiscal Q1 2025) to 13.44% (fiscal Q4 2022).
- Year-over-year, Return on Capital Employed [ROCE] has increased for four consecutive quarters, with an average year-over-year change of +1.42 percentage points over the last eight quarters.
- The fastest year-over-year change in Return on Capital Employed [ROCE] over five years came in fiscal Q1 2026 (a gain of 11.63 percentage points), and the weakest in fiscal Q1 2025 (a drop of 8.03 percentage points).
- Business Quant data shows NFG's Return on Capital Employed [ROCE] at 12.38% (Q2 2026), 12.88% (Q1 2026) and 10.62% (Q4 2025) in the three fiscal quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 744.22 Bn | 700.71 Bn | - | 12.28% |
| 2 | Chevron | 442.27 Bn | 414.39 Bn | 33.45 Bn | -29.93% |
| 3 | Shell | 308.83 Bn | 238.57 Bn | 30.13 Bn | 17.79% |
| 4 | TotalEnergies SE | 197.25 Bn | 77.83 Bn | 61.77 Bn | 39.24% |
| 5 | Conocophillips | 176.36 Bn | 149.07 Bn | 12.81 Bn | 28.17% |
| 6 | Equinor Asa | 119.62 Bn | 34.07 Bn | - | - |
| 7 | Phillips 66 | 116.49 Bn | 104.28 Bn | 8.38 Bn | -190.97% |
| 8 | Canadian Natural Resources | 113.27 Bn | 110.27 Bn | 8.84 Bn | - |
| 9 | Suncor Energy | 95.51 Bn | 81.26 Bn | - | 2.07% |
| 10 | National Fuel Gas | 7.43 Bn | 5.85 Bn | 507.62 Mn | 10.90% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 10.90% |
| Mar 31, 2026 | 12.38% |
| Dec 31, 2025 | 12.88% |
| Sep 30, 2025 | 10.62% |
| Jun 30, 2025 | 5.77% |
| Mar 31, 2025 | 2.16% |
| Dec 31, 2024 | 1.25% |
| Sep 30, 2024 | 2.87% |
| Jun 30, 2024 | 6.59% |
| Mar 31, 2024 | 9.33% |
| Dec 31, 2023 | 9.28% |
| Sep 30, 2023 | 10.22% |
| Jun 30, 2023 | 10.96% |
| Mar 31, 2023 | 11.69% |
| Dec 31, 2022 | 13.26% |
| Sep 30, 2022 | 13.44% |
| Jun 30, 2022 | 13.28% |
| Mar 31, 2022 | 12.97% |
| Dec 31, 2021 | 10.65% |
| Sep 30, 2021 | 10.49% |
API Access
National Fuel Gas Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=NFG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=NFG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();