National Fuel Gas Co
$10.61B- Market cap
- $7.83B
- Debt
- +$2.83B
- Cash
- −$43.17M
Capital structure 73% equity / 27% debt · EV / Revenue 4.66x · EV proxy / EBITDA proxy 8.36x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 · View financials
Decision snapshot: NFG stock price vs OGS: inconclusive Relative valuation is incomplete for this pair. Review the available filing metrics before drawing a conclusion.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at OGS's multiple
Needs OGS P/E.
Implied fair value · at NFG's multiple
Price unavailable
Metric by metric
Where each company leads, and how wide the gap is.
Higher is better
Reported gross margin
Operating income + D&A
Lower is better
Not comparable
Lower leverage
Statements
Annual statements in reported currencies, with calculations and source evidence.
Values retain reported currencies and share bases. Select a figure to inspect its period, calculation and filing inputs. Differences require compatible units and periods.
Explore enterprise value and market valuation multiples in the valuation sections.
Trendline
Ten period-end years of reported revenue, earnings, and margins. Periods and currencies are shown with the data.
Price framework
USD market cap plus reported borrowing debt, less cash and equivalents. This EV proxy excludes investments, preferred stock and noncontrolling-interest adjustments.
Capital structure 73% equity / 27% debt · EV / Revenue 4.66x · EV proxy / EBITDA proxy 8.36x
Complete market value, debt and cash evidence is required for enterprise value.
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
NATIONAL FUEL GAS CO · implied price per share
Bear
-$9.77
Base
-$6.10
Bull
-$1.32
ONE Gas, Inc. · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
Balance sheet health
Inspect reported liquidity and leverage alongside historical financial-health checks.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Not enough data to score either balance sheet.
Cash excludes investments. EBITDA is an operating-income-plus-D&A proxy. Missing borrowing categories remain unavailable; select a value to inspect its inputs.
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
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LLM-powered synthesis
An explanation of the financial evidence. Check its snapshot date against the figures above.
This explanation uses an earlier data snapshot or evidence version. Review its generation date and the current figures, or refresh after signing in.
If you believe NFG can sustain its superior margins and ROIC while not needing OGS-level growth to justify its valuation, then NFG looks like the better relative buy because it is cheaper on P/E and stronger on quality metrics.
NFG trades at a lower P/E than OGS despite materially stronger margins, profitability, and ROIC, suggesting the market is paying up for OGS’s growth rather than quality. At the indicated implied price of $100.93, NFG would have about 22.6% upside from the current $82.31 price and would sit above its historical band but within the DCF range.
Supporting Metrics