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 2026 · Mkt cap
Decision snapshot: NFG stock price at discount vs WMT $82.33 current versus $219.98 implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at WMT's multiple
Implied fair value · at NFG's multiple
Snapshot Sep 10, 2026, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Reported gross margin
Operating income + D&A
Multiple premium
Lower P/E
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
Nine 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
Capital structure 95% equity / 5% debt · EV / Revenue 1.22x
WMT carries the larger enterprise value at $872.87B against $10.61B; WMT trades on the lower EV / Revenue multiple (1.22x vs 4.66x).
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
WALMART INC. · implied price per share
Bear
$26.01
Base
$31.42
Bull
$38.87
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's stronger margin profile and 8/9 Piotroski score deserve a higher earnings multiple without requiring WMT-like scale or ROIC, then a cautious long bias makes sense because NFG is far cheaper on P/E but already near the top of its historical trading band.
On a P/E basis, NFG at 13.9x appears far cheaper than WMT at 40.8x, which mechanically drives the very large implied upside shown in the valuation output. However, NFG also trades at a higher P/S multiple than WMT (3.3x vs 1.3x) and a lower EV/EBITDA than WMT (10.5x vs 23.0x), so the valuation message is mixed rather than a clean discount.
Supporting Metrics