National Fuel Gas (NFG) Return on Invested Capital [ROIC] (2011 - 2026)
National Fuel Gas (NFG) recorded Return on Invested Capital [ROIC] of 11.26% in fiscal Q3 2026 (quarter ended Jun 30, 2026), up 4.87 percentage points from 6.40% a year earlier but down 2.03 percentage points from the prior quarter.
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Analysis
National Fuel Gas (NFG) Return on Invested Capital [ROIC] (2011 - 2026) Analysis & Trends
For FY2025 (ended Sep 30, 2025), National Fuel Gas reported Return on Invested Capital [ROIC] of 11.56%, up 7.97 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] has a five-year change of +10.89 percentage points (FY2020 to FY2025).
- Across earlier fiscal years, Return on Invested Capital [ROIC] came in at 3.59% in FY2024 (-8.22 pp), 11.81% in FY2023 (-3.94 pp), 15.75% in FY2022 (+4.95 pp) and 10.79% in FY2021 (+10.12 pp).
- Quarterly Return on Invested Capital [ROIC] has ranged from 0.57% in fiscal Q1 2025 to 16.37% in fiscal Q4 2022 over the past five years.
- On a year-over-year basis, Return on Invested Capital [ROIC] has increased for four consecutive quarters, with an average year-over-year change of +1.50 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Invested Capital [ROIC] in the last five years was a gain of 12.84 percentage points in fiscal Q1 2026, against a drop of 9.11 percentage points in fiscal Q1 2025 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at 13.29% (Q2 2026), 13.42% (Q1 2026) and 11.22% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 753.32 Bn | 716.53 Bn | - | 11.12% |
| 2 | Chevron | 460.83 Bn | 438.62 Bn | 33.45 Bn | -25.37% |
| 3 | Shell | 307.74 Bn | 238.48 Bn | 30.13 Bn | 13.05% |
| 4 | TotalEnergies SE | 204.79 Bn | 87.92 Bn | 61.77 Bn | 36.80% |
| 5 | Conocophillips | 181.17 Bn | 153.88 Bn | 12.81 Bn | 22.50% |
| 6 | Equinor Asa | 122.04 Bn | 36.56 Bn | - | 47.74% |
| 7 | Canadian Natural Resources | 114.63 Bn | 111.64 Bn | 8.84 Bn | - |
| 8 | Phillips 66 | 112.97 Bn | 101.96 Bn | 8.38 Bn | -181.46% |
| 9 | Eni Spa | 97.68 Bn | 47.86 Bn | - | 6.87% |
| 10 | National Fuel Gas | 7.65 Bn | 6.08 Bn | 507.62 Mn | 11.26% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 11.26% |
| Mar 31, 2026 | 13.29% |
| Dec 31, 2025 | 13.42% |
| Sep 30, 2025 | 11.22% |
| Jun 30, 2025 | 6.40% |
| Mar 31, 2025 | 3.08% |
| Dec 31, 2024 | 0.57% |
| Sep 30, 2024 | 3.45% |
| Jun 30, 2024 | 7.17% |
| Mar 31, 2024 | 9.82% |
| Dec 31, 2023 | 9.68% |
| Sep 30, 2023 | 10.53% |
| Jun 30, 2023 | 12.91% |
| Mar 31, 2023 | 14.37% |
| Dec 31, 2022 | 16.11% |
| Sep 30, 2022 | 16.37% |
| Jun 30, 2022 | 14.70% |
| Mar 31, 2022 | 12.96% |
| Dec 31, 2021 | 11.76% |
| Sep 30, 2021 | 10.75% |
API Access
National Fuel Gas Return on Invested Capital [ROIC] 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-invested-capital-%5Broic%5D&ticker=NFG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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-invested-capital-%5Broic%5D&ticker=NFG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();