National Fuel Gas Co (NFG) financial statements: income statement, balance sheet and cash flow
National Fuel Gas Co's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Sep 30, 2025 · FY), National Fuel Gas Co reported revenue of $2.3B (+17.1% year on year) and net income of $518.5M (+568.9% year on year).
Income statement
National Fuel Gas Co income statement, fiscal years
Line item
Sep 30, 2025 · FY
Sep 30, 2024 · FY
Sep 30, 2023 · FY
Sep 30, 2022 · FY
Operating Revenues
$2.3B
$1.9B
$2.2B
$2.2B
Purchased Gas
$213.4M
$150.1M
$437.6M
$392.1M
Operation and Maintenance
$230.6M
$520.0M
$478.8M
$521.2M
Property, Franchise and Other Taxes
$94.4M
$88.9M
$92.7M
$101.2M
Depreciation, Depletion and Amortization
$456.6M
$457.0M
$409.6M
$369.8M
Impairment of Assets
$141.8M
$519.1M
—
—
Total Operating Expenses
$1.5B
$1.7B
$1.4B
$1.4B
Operating Income
$813.5M
$209.7M
$755.1M
$814.5M
Other Income (Deductions)
$36.4M
$16.2M
$18.1M
($1.5M)
Interest Expense on Long-Term Debt
($140.9M)
($122.8M)
($111.9M)
($120.5M)
Other Interest Expense
($15.0M)
($15.9M)
($19.9M)
($9.8M)
Income Before Income Taxes
$694.1M
$87.3M
$641.4M
$682.6M
Income Tax Expense
$175.5M
$9.7M
$164.5M
$116.6M
Net Income Available for Common Stock
$518.5M
$77.5M
$476.9M
$566.0M
Balance at Beginning of Year
$1.7B
$1.9B
$1.6B
$1.2B
Beginning Retained Earnings Unappropriated and Current Period Net Income
$2.2B
$2.0B
$2.1B
$1.8B
Share Repurchases Under Repurchase Plan
($43.4M)
—
—
—
Dividends on Common Stock
($189.9M)
($185.2M)
($178.1M)
($170.1M)
Balance at End of Year
$2.0B
$1.7B
$1.9B
$1.6B
Net Income Available for Common Stock (in dollars per share)
$5.73
$0.84
$5.20
$6.19
Net Income Available for Common Stock (in dollars per share)
$5.68
$0.84
$5.17
$6.15
Used in Basic Calculation (in shares)
90.5M
91.8M
91.7M
91.4M
Used in Diluted Calculation (in shares)
91.2M
92.3M
92.3M
92.1M
National Fuel Gas Co income statement, quarters
Line item
Jun 30, 2026 · Q3
Mar 31, 2026 · Q2
Dec 31, 2025 · Q1
Jun 30, 2025 · Q3
Operating Revenues
$537.5M
$858.4M
$651.5M
$531.8M
Purchased Gas
$29.9M
$207.9M
$85.6M
$28.0M
Operation and Maintenance
$155.1M
$158.8M
$143.0M
$56.1M
Property, Franchise and Other Taxes
$22.5M
$25.3M
$24.8M
$24.2M
Depreciation, Depletion and Amortization
$121.1M
$119.3M
$122.0M
$116.4M
Impairment of Assets
$0
$0
$0
$0
Total Operating Expenses
$328.6M
$511.2M
$375.4M
$301.6M
Operating Income
$208.9M
$347.1M
$276.1M
$230.3M
Other Income (Deductions)
$11.9M
$17.0M
$8.2M
$8.5M
Interest Expense on Long-Term Debt
($33.2M)
($30.1M)
($33.5M)
($34.3M)
Other Interest Expense
($2.8M)
($3.7M)
($9.9M)
($3.6M)
Income Before Income Taxes
$184.8M
$330.4M
$241.0M
$200.9M
Income Tax Expense
$46.2M
$82.7M
$59.3M
$51.1M
Net Income Available for Common Stock
$138.6M
$247.7M
$181.6M
$149.8M
Balance at Beginning of Period
$2.3B
$2.1B
$2.0B
$1.9B
Beginning Retained Earnings Unappropriated And Current Period Net Income
$2.5B
$2.4B
$2.2B
$2.0B
Share Repurchases
$0
$0
$0
($3.3M)
Dividends on Common Stock
($52.7M)
($50.8M)
($50.8M)
($48.3M)
Balance at June 30
$2.4B
—
—
$2.0B
Net Income Available for Common Stock (in dollars per share)
$1.46
$2.61
$1.99
$1.66
Net Income Available for Common Stock (in dollars per share)
$1.45
$2.59
$1.98
$1.64
Used in Basic Calculation (shares)
95.0M
95.0M
91.2M
90.4M
Used in Diluted Calculation (shares)
95.7M
95.7M
92.0M
91.1M
Dividends Declared (in dollars per share)
$0.56
$0.54
$0.54
$0.54
Balance sheet
National Fuel Gas Co balance sheet, fiscal years
Line item
Sep 30, 2025 · FY
Sep 30, 2024 · FY
Sep 30, 2023 · FY
Sep 30, 2022 · FY
Property, Plant and Equipment
$15.4B
$14.5B
$13.6B
$12.6B
Less — Accumulated Depreciation, Depletion and Amortization
$7.7B
$7.2B
$6.3B
$6.0B
Property, Plant and Equipment, Net, Total
$7.7B
$7.3B
$7.3B
$6.6B
Cash and Temporary Cash Investments
$43.2M
$38.2M
$55.4M
$46.0M
Receivables — Net of Allowance for Uncollectible Accounts of $17,099 and $26,194, Respectively
$180.8M
$127.2M
$160.6M
$361.6M
Unbilled Revenue
$16.2M
$15.5M
$16.6M
$30.1M
Gas Stored Underground
$33.5M
$35.1M
$32.5M
$32.4M
Materials and Supplies - at average cost
$50.5M
$47.7M
$49.0M
$40.6M
Unrecovered Purchased Gas Costs
$5.8M
—
$0
$99.3M
Other Current Assets
$80.8M
$92.2M
$100.3M
$59.4M
Total Current Assets
$410.7M
$355.9M
$414.4M
$761.1M
Recoverable Future Taxes
$89.2M
$80.1M
$69.0M
$106.2M
Unamortized Debt Expense
$6.2M
$5.6M
$7.2M
$8.9M
Other Regulatory Assets
$135.5M
$108.0M
$72.1M
$67.1M
Deferred Charges
$73.9M
$69.7M
$82.4M
$77.5M
Other Investments
$68.3M
$81.7M
$74.0M
$95.0M
Goodwill
$5.5M
$5.5M
$5.5M
$5.5M
Prepaid Pension and Post-Retirement Benefit Costs
$169.2M
$180.2M
$200.3M
$196.6M
Fair Value of Derivative Financial Instruments
$39.4M
$87.9M
$50.5M
$9.2M
Other
$8.4M
$6.0M
$4.9M
$2.7M
Total Other Assets
$595.7M
$624.6M
$566.0M
$568.7M
Total Assets
$8.7B
$8.3B
$8.3B
$7.9B
Common Stock, $1 Par Value; Authorized - 200,000,000 Shares; Issued and Outstanding - 90,379,095 Shares and 91,005,993 Shares, Respectively
90.4M
91.0M
91.8M
91.5M
Paid In Capital
$1.1B
$1.0B
$1.0B
$1.0B
Earnings Reinvested in the Business
$2.0B
$1.7B
$1.9B
$1.6B
Accumulated Other Comprehensive Loss
($59.2M)
($15.5M)
($55.1M)
($625.7M)
Total Comprehensive Shareholders’ Equity
$3.1B
$2.8B
$3.0B
$2.1B
Long-Term Debt, Net of Current Portion and Unamortized Discount and Debt Issuance Costs
$2.4B
$2.2B
$2.4B
$2.1B
Total Capitalization
$5.5B
$5.0B
$5.3B
$4.2B
Notes Payable to Banks and Commercial Paper
$150.2M
$90.7M
$287.5M
$60.0M
Current Portion of Long-Term Debt
$300.0M
$500.0M
$0
$549.0M
Accounts Payable
$184.0M
$165.1M
$152.2M
$178.9M
Amounts Payable to Customers
$968.0K
$42.7M
$59.0M
$419.0K
Dividends Payable
$48.4M
$46.9M
$45.5M
$43.5M
Interest Payable on Long-Term Debt
$14.4M
$27.2M
$20.4M
$17.4M
Customer Advances
$17.2M
$19.4M
$21.0M
$26.1M
Customer Security Deposits
$29.9M
$36.3M
$28.8M
$24.3M
Other Accruals and Current Liabilities
$174.7M
$162.9M
$161.0M
$257.3M
Fair Value of Derivative Financial Instruments
$6.1M
$4.7M
$31.0M
$785.7M
Total Current and Accrued Liabilities
$925.8M
$1.1B
$806.3M
$1.9B
Deferred Income Taxes
$1.2B
$1.1B
$1.1B
$698.2M
Taxes Refundable to Customers
$306.3M
$305.6M
$268.6M
$362.1M
Cost of Removal Regulatory Liability
$307.7M
$292.5M
$277.7M
$259.9M
Other Regulatory Liabilities
$121.9M
$151.5M
$165.4M
$188.8M
Pension and Other Post-Retirement Liabilities
$5.3M
$3.5M
$2.9M
$3.1M
National Fuel Gas Co balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Jun 30, 2025
Property, Plant and Equipment
$16.1B
$15.8B
$15.6B
$15.0B
Less - Accumulated Depreciation, Depletion and Amortization
$8.0B
$7.9B
$7.8B
$7.6B
Property, Plant and Equipment, Net, Total
$8.1B
$7.9B
$7.8B
$7.5B
Cash and Temporary Cash Investments
$1.2B
$26.6M
$271.4M
$39.3M
Receivables – Net of Allowance for Uncollectible Accounts of $23,611 and $17,099, Respectively
$227.9M
$292.5M
$265.9M
$222.5M
Unbilled Revenue
$16.9M
$53.0M
$69.6M
$15.3M
Gas Stored Underground
$12.8M
$4.8M
$19.0M
$12.8M
Materials and Supplies - at average cost
$51.2M
$53.8M
$49.9M
$51.0M
Unrecovered Purchased Gas Costs
$2.1M
$13.0M
$20.7M
$2.9M
Other Current Assets
$67.7M
$63.9M
$62.1M
$64.2M
Total Current Assets
$1.6B
$507.6M
$758.6M
$408.2M
Recoverable Future Taxes
$99.0M
$96.2M
$92.4M
$90.5M
Unamortized Debt Expense
$5.8M
$5.3M
$5.8M
$6.7M
Other Regulatory Assets
$123.5M
$127.1M
$133.6M
$124.3M
Deferred Charges
$117.3M
$81.3M
$75.6M
$71.4M
Other Investments
$66.9M
$65.9M
$69.0M
$73.8M
Goodwill
$5.5M
$5.5M
$5.5M
$5.5M
Prepaid Pension and Post-Retirement Benefit Costs
$187.7M
$182.7M
$171.6M
$199.3M
Fair Value of Derivative Financial Instruments
$127.6M
$116.0M
$69.4M
$2.4M
Other
$10.4M
$9.9M
$8.5M
$8.2M
Total Other Assets
$743.8M
$689.8M
$631.2M
$582.0M
Total Assets
$10.5B
$9.1B
$9.2B
$8.4B
Common Stock, $1 Par Value; Authorized - 200,000,000 Shares; Issued and Outstanding - 95,035,675 Shares and 90,379,095 Shares, Respectively
95.0M
95.0M
95.0M
90.4M
Paid in Capital
$1.4B
$1.4B
$1.4B
$1.0B
Earnings Reinvested in the Business
$2.4B
$2.3B
$2.1B
$2.0B
Accumulated Other Comprehensive Income (Loss)
$9.6M
$1.1M
($33.0M)
($115.8M)
Total Comprehensive Shareholders’ Equity
$3.9B
$3.8B
$3.6B
$3.0B
Long-Term Debt, Net of Current Portion and Unamortized Discount and Debt Issuance Costs
$3.6B
$2.1B
$2.1B
$2.4B
Total Capitalization
$7.5B
$5.9B
$5.7B
$5.4B
Notes Payable to Banks and Commercial Paper
$0
$41.3M
$90.0M
$61.5M
Current Portion of Long-Term Debt
$0
$300.0M
$600.0M
$300.0M
Accounts Payable
$146.1M
$143.2M
$141.7M
$123.1M
Amounts Payable to Customers
$752.0K
$288.0K
$476.0K
$24.3M
Dividends Payable
$52.7M
$50.8M
$50.8M
$48.3M
Interest Payable on Long-Term Debt
$34.5M
$13.7M
$34.6M
$39.1M
Customer Advances
$0
$0
$17.1M
$0
Customer Security Deposits
$27.7M
$27.8M
$29.9M
$28.7M
Other Accruals and Current Liabilities
$241.4M
$242.8M
$209.2M
$207.2M
Fair Value of Derivative Financial Instruments
$1.0M
$236.0K
$155.0K
$57.7M
Total Current and Accrued Liabilities
$504.2M
$820.1M
$1.2B
$889.9M
Deferred Income Taxes
$1.4B
$1.3B
$1.3B
$1.2B
Taxes Refundable to Customers
$302.1M
$303.2M
$304.4M
$297.6M
Cost of Removal Regulatory Liability
$319.9M
$314.9M
$312.0M
$302.9M
Other Regulatory Liabilities
$116.9M
$116.5M
$120.2M
$137.0M
Other Post-Retirement Liabilities
$3.8M
$3.7M
$3.7M
$3.4M
Cash flow statement
National Fuel Gas Co cash flow statement, fiscal years
Line item
Sep 30, 2025 · FY
Sep 30, 2024 · FY
Sep 30, 2023 · FY
Sep 30, 2022 · FY
Net Income Available for Common Stock
$518.5M
$77.5M
$476.9M
$566.0M
Impairment of Assets
$141.8M
$519.1M
—
—
Depreciation, Depletion and Amortization
$456.6M
$457.0M
$409.6M
$369.8M
Deferred Income Taxes
$121.3M
($2.6M)
$151.4M
$104.4M
Premium Paid on Early Redemption of Debt
$2.4M
—
$0
$0
Stock-Based Compensation
$19.8M
$22.1M
$20.6M
$19.5M
Other
$24.9M
$24.4M
$19.6M
$32.0M
Receivables and Unbilled Revenue
($54.5M)
$34.4M
$213.6M
($168.8M)
Gas Stored Underground and Materials and Supplies
($1.4M)
$1.7M
($8.4M)
$3.1M
Unrecovered Purchased Gas Costs
($5.8M)
$0
$99.3M
($66.2M)
Other Current Assets
$11.4M
$8.1M
($41.1M)
$291.0K
Accounts Payable
$12.8M
$5.6M
($37.1M)
$11.9M
Amounts Payable to Customers
($41.8M)
($16.3M)
$58.6M
$398.0K
Customer Advances
($2.2M)
($1.6M)
($5.1M)
$8.9M
Customer Security Deposits
($6.4M)
$7.5M
$4.5M
$5.0M
Other Accruals and Current Liabilities
$489.0K
$2.6M
($67.7M)
$34.3M
Other Assets
($29.1M)
($48.2M)
($26.6M)
($58.9M)
Other Liabilities
($68.8M)
($25.5M)
($31.1M)
($17.9M)
Net Cash Provided by Operating Activities
$1.1B
$1.1B
$1.2B
$812.5M
Capital Expenditures
($912.8M)
($931.2M)
($1.0B)
($811.8M)
Sale of Fixed Income Mutual Fund Shares in Grantor Trust
7.0M
0
10.0M
30.0M
Acquisition of Upstream Assets
$0
$0
($124.8M)
—
Other
$14.1M
($2.7M)
$12.3M
$8.7M
Net Cash Used in Investing Activities
($891.7M)
($933.9M)
($1.1B)
($518.7M)
Proceeds from Issuance of Short-Term Note Payable to Bank
$0
$0
$250.0M
—
Repayment of Short-Term Note Payable to Bank
$0
$0
($250.0M)
—
Net Change in Other Short-Term Notes Payable to Banks and Commercial Paper
$59.5M
($196.8M)
$227.5M
—
Net Proceeds from Issuance of Long-Term Debt
$988.7M
$299.4M
$297.3M
$0
Shares Repurchased Under Repurchase Plan
-54.4M
-64.1M
—
—
Reduction of Long-Term Debt
($1.0B)
$0
($549.0M)
$0
Net Repurchases of Common Stock Under Stock and Benefit Plans
($4.7M)
($4.0M)
—
—
Dividends Paid on Common Stock
($188.4M)
($183.8M)
($176.1M)
($168.1M)
Net Cash Used in Financing Activities
($203.4M)
($149.3M)
($207.0M)
($276.2M)
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash
$4.9M
($17.2M)
($82.3M)
$17.6M
Cash, Cash Equivalents and Restricted Cash At Beginning of Year
$38.2M
$55.4M
$137.7M
$120.1M
Cash, Cash Equivalents and Restricted Cash At End of Year
$43.2M
$38.2M
$55.4M
$137.7M
Interest
$159.4M
$125.1M
$124.4M
$124.3M
Income Taxes
$48.9M
$4.1M
$38.1M
$16.7M
Non-Cash Capital Expenditures
$125.3M
$120.0M
$109.2M
$120.3M
National Fuel Gas Co cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · YTD
Dec 31, 2025 · Q1
Jun 30, 2025 · YTD
Net Income Available for Common Stock
$567.9M
$429.3M
$181.6M
$411.2M
Impairment of Assets
$0
$0
$0
$141.8M
Depreciation, Depletion and Amortization
$362.4M
$241.4M
$122.0M
$337.1M
Deferred Income Taxes
$88.9M
$68.3M
$34.3M
$60.8M
Premiums Paid on Early Redemption of Debt
$413.0K
$0
—
$2.4M
Stock-Based Compensation
$14.8M
$9.9M
$4.1M
$15.7M
Other
$17.7M
$14.3M
$7.7M
$19.3M
Receivables and Unbilled Revenue
($47.2M)
($146.5M)
($138.6M)
($95.3M)
Gas Stored Underground and Materials and Supplies
$19.9M
$25.5M
$15.2M
$18.8M
Unrecovered Purchased Gas Costs
$3.6M
($7.2M)
($15.0M)
($2.9M)
Other Current Assets
$13.1M
$16.7M
$18.6M
$28.0M
Accounts Payable
$2.0K
$13.5M
$21.4M
$1.7M
Amounts Payable to Customers
($216.0K)
($680.0K)
($492.0K)
($18.4M)
Customer Advances
($17.2M)
($17.2M)
($80.0K)
($19.4M)
Customer Security Deposits
($2.1M)
($2.0M)
$22.0K
($7.5M)
Other Accruals and Current Liabilities
$57.9M
$56.2M
$37.6M
$44.3M
Other Assets
($15.9M)
($18.9M)
($5.1M)
($35.3M)
Other Liabilities
($29.5M)
($25.3M)
($8.4M)
($39.9M)
Net Cash Provided by Operating Activities
$1.0B
$657.3M
$274.9M
$862.3M
Capital Expenditures
($764.5M)
($498.3M)
($277.6M)
($627.3M)
Other
$10.3M
$523.0K
($1.3M)
$9.4M
Net Cash Used in Investing Activities
($754.2M)
($497.7M)
($278.9M)
($618.0M)
Changes in Notes Payable to Banks and Commercial Paper
($150.2M)
($108.9M)
($60.2M)
($29.2M)
Net Proceeds from Issuance of Long-Term Debt
$1.5B
$0
—
$988.7M
Shares Repurchased Under Repurchase Plan
0
0
0
-54.4M
Reduction of Long-Term Debt
($601.2M)
($300.0M)
—
($1.0B)
Dividends Paid on Common Stock
($150.0M)
($99.2M)
($48.4M)
($140.1M)
Net Proceeds from Common Stock Sale
$338.4M
$338.4M
$347.1M
—
Net Repurchases of Common Stock Under Stock and Benefit Plans
($6.4M)
($6.4M)
($6.4M)
($4.1M)
Net Cash Provided by (Used in) Financing Activities