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National Fuel Gas Valuation Multiples

Discover revenue and EBITDA valuation multiples for National Fuel Gas and similar public comparables like Royal Vopak, Fugro, and Fastned.

National Fuel Gas Overview

About National Fuel Gas

National Fuel Gas Co is a diversified energy company engaged in the production, gathering, transportation, distribution, and marketing of natural gas. The operating segments of the company are the Exploration and Production segment, the Pipeline and Storage segment, the Gathering segment, and the Utility segment. The company generates a majority of its revenue from the Exploration and Production segment which is engaged in the exploration for, and the development and production of, natural gas in the Appalachian region of the United States. Geographically, the company operates in the United States.


Founded

1902

HQ

United States of America
Employees

2.3K+

Financials

LTM Revenue $2.2B

LTM EBITDA $1.3B

EV

$9.8B

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National Fuel Gas Financials

National Fuel Gas has a last 12-month revenue of $2.2B and a last 12-month EBITDA of $1.3B.

In the most recent fiscal year, National Fuel Gas achieved revenue of $1.9B and an EBITDA of $683M.

National Fuel Gas expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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National Fuel Gas P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $2.2B $1.9B XXX XXX XXX
Gross Profit $903M $848M XXX XXX XXX
Gross Margin 42% 44% XXX XXX XXX
EBITDA $1.2B $683M XXX XXX XXX
EBITDA Margin 54% 35% XXX XXX XXX
Net Profit $566M $477M XXX XXX XXX
Net Margin 26% 25% XXX XXX XXX
Net Debt $2.6B $2.6B XXX XXX XXX

Financial data powered by Morningstar, Inc.

National Fuel Gas Stock Performance

As of March 14, 2025, National Fuel Gas's stock price is $76.

National Fuel Gas has current market cap of $6.9B, and EV of $9.8B.

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National Fuel Gas Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$9.8B $6.9B XXX XXX XXX XXX $5.91

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National Fuel Gas Valuation Multiples

As of March 14, 2025, National Fuel Gas has market cap of $6.9B and EV of $9.8B.

National Fuel Gas's trades at 4.4x LTM EV/Revenue multiple, and 7.5x LTM EBITDA.

Analysts estimate National Fuel Gas's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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National Fuel Gas Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $9.8B XXX XXX XXX
EV/Revenue 4.7x XXX XXX XXX
EV/EBITDA 11.2x XXX XXX XXX
P/E 33.7x XXX XXX XXX
P/E/Growth 0.4x XXX XXX XXX
EV/FCF 53.5x XXX XXX XXX

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National Fuel Gas Valuation Multiples

National Fuel Gas's NTM/LTM revenue growth is 18%

National Fuel Gas's revenue per employee for the last fiscal year averaged $0.8M, while opex per employee averaged $38K for the same period.

Over next 12 months, National Fuel Gas's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate National Fuel Gas's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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National Fuel Gas Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -11% XXX XXX XXX XXX
EBITDA Margin 42% XXX XXX XXX XXX
EBITDA Growth -42% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 60% XXX XXX XXX XXX
Revenue per Employee $0.8M XXX XXX XXX XXX
Opex per Employee $38K XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 5% XXX XXX XXX XXX

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National Fuel Gas Public Comps

See public comps and valuation multiples for Energy Services and Fossil Fuels comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
ADNOC XXX XXX XXX XXX XXX XXX
NMDC Energy XXX XXX XXX XXX XXX XXX
Fastned XXX XXX XXX XXX XXX XXX
Fugro XXX XXX XXX XXX XXX XXX
Royal Vopak XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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National Fuel Gas M&A and Investment Activity

National Fuel Gas acquired  XXX companies to date.

Last acquisition by National Fuel Gas was  XXXXXXXX, XXXXX XXXXX XXXXXX . National Fuel Gas acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by National Fuel Gas

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About National Fuel Gas

When was National Fuel Gas founded? National Fuel Gas was founded in 1902.
Where is National Fuel Gas headquartered? National Fuel Gas is headquartered in United States of America.
How many employees does National Fuel Gas have? As of today, National Fuel Gas has 2.3K+ employees.
Who is the CEO of National Fuel Gas? National Fuel Gas's CEO is Mr. David P. Bauer.
Is National Fuel Gas publicy listed? Yes, National Fuel Gas is a public company listed on NYS.
What is the stock symbol of National Fuel Gas? National Fuel Gas trades under NFG ticker.
When did National Fuel Gas go public? National Fuel Gas went public in 1955.
Who are competitors of National Fuel Gas? Similar companies to National Fuel Gas include e.g. ADNOC, NMDC Energy, Fastned, Fugro.
What is the current market cap of National Fuel Gas? National Fuel Gas's current market cap is $6.9B
What is the current revenue of National Fuel Gas? National Fuel Gas's last 12-month revenue is $2.2B.
What is the current EBITDA of National Fuel Gas? National Fuel Gas's last 12-month EBITDA is $1.3B.
What is the current EV/Revenue multiple of National Fuel Gas? Current revenue multiple of National Fuel Gas is 4.4x.
What is the current EV/EBITDA multiple of National Fuel Gas? Current EBITDA multiple of National Fuel Gas is 7.5x.
What is the current revenue growth of National Fuel Gas? National Fuel Gas revenue growth between 2023 and 2024 was -11%.
Is National Fuel Gas profitable? Yes, National Fuel Gas is EBITDA-positive (as of the last 12 months).

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