Pulling SEC filings + quote and writing the call…

NATIONAL FUEL GAS CO
Next earnings Jul 28, 2026 · consensus $1.43 EPS, $576M rev
Last earnings -4.2% on 2026-04-30
Integrated gas E&P/utility/pipeline with a recovered $5.68 EPS at 13.4x — solid dividend payer, but earnings swing with gas prices.
Sources: SEC EDGAR (CIK 0000070145, latest 10-Q filed 2026-04-30) · EODHD · analysis by claude-code · as of 6/21/2026, 8:54:41 PM.
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Middling fundamentals offset by an attractive price (~182% below fair value) — worth a look on the value angle.
National Fuel Gas is a vertically integrated natural-gas company spanning Appalachian E&P, regulated utility distribution, and pipeline/storage. FY2025 was a sharp rebound: revenue rose 30.0% to $2.22B and net income surged to $519M (+568.9%) with diluted EPS of $5.68 (+576.2%), recovering from a depressed FY2024 ($77.5M net income) that reflected weak natural-gas prices and likely ceiling-test/impairment effects. Operating margin recovered to 36.7% and ROE to 16.8%. The earnings history makes the cyclicality plain — net income was $566M (FY2022), $477M (FY2023), $77.5M (FY2024), then $519M (FY2025) — so the strong FY2025 should be read as a commodity-driven recovery, not a step-change in run-rate.
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | $3.06B | $2.25B | $1.71B | $2.22B |
| Gross profit | — | — | — | — | — |
| Operating income | $640M | $815M | $755M | $210M | $813M |
| Net income | $364M | $566M | $477M | $77.5M | $519M |
| Diluted EPS | $3.97 | $6.15 | $5.17 | $0.84 | $5.68 |
| Net margin | — | 18.5% | 21.1% | 4.5% | 23.4% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
1046 tracked peers · median
Disclosed under the STOCK Act
Self-reported periodic transaction reports (STOCK Act). Amounts are disclosed ranges; a trade may be a spouse's. Disclosures lag the trade by up to ~45 days. Source: House Clerk + Senate eFD.
Source: EODHD. Yield = trailing-12-month dividends ÷ price.
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.
| 2026-04-01 | TANSKI RONALD J Director | Award | 469.00 @ $93.29 | $43.8K |
| 2026-04-01 | SHAW JEFFREY W Director | Award | 469.00 @ $93.29 | $43.8K |
| 2026-04-01 | JAGGERS JOSEPH N Director | Award | 469.00 @ $93.29 | $43.8K |
| 2026-01-15 | Ranich Rebecca Director | Acquired (J) | 116.00 @ $81.83 | $9.49K |
| 2026-01-15 | Carroll David C. Director | Acquired (J) | 198.00 @ $81.83 | $16.2K |
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.