NFG vs ATO vs NJR vs SR

For growth investors, National Fuel Gas Company (NFG) is the stronger pick with 17.

1% revenue growth year-over-year, versus -4. 5% for Spire Inc. (SR). National Fuel Gas Company (NFG) offers the better valuation at 14. 1x trailing P/E (10. 3x forward), making it the more compelling value choice. Analysts rate National Fuel Gas Company (NFG) a "Buy" — based on 18 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, National Fuel Gas Company (NFG) is the cheapest at 14.

1x versus Atmos Energy Corporation at 24. 4x. On forward P/E, National Fuel Gas Company is actually cheaper at 10. 3x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Spire Inc. wins at 0. 66x versus Atmos Energy Corporation's 2. 48x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, Atmos Energy Corporation (ATO) delivered a total return of +91.

7%, compared to +32. 1% for Spire Inc. (SR). Over 10 years, the gap is even starker: ATO returned +179. 6% versus SR's +71. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), New Jersey Resources Corporation (NJR) is the lower-risk stock at -0.

13β versus Spire Inc. 's 0. 06β — meaning SR is approximately -149% more volatile than NJR relative to the S&P 500. On balance sheet safety, Atmos Energy Corporation (ATO) carries a lower debt/equity ratio of 69% versus 158% for New Jersey Resources Corporation — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), National Fuel Gas Company (NFG) is pulling ahead at 17.

1% versus -4. 5% for Spire Inc. (SR). On earnings-per-share growth, the picture is similar: National Fuel Gas Company grew EPS 576. 2% year-over-year, compared to 4. 3% for Spire Inc.. Over a 3-year CAGR, SR leads at 4. 0% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Atmos Energy Corporation (ATO) is the more profitable company, earning 25.

5% net margin versus 11. 0% for Spire Inc. — meaning it keeps 25. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NFG leads at 35. 7% versus 21. 2% for SR. At the gross margin level — before operating expenses — SR leads at 78. 1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, Spire Inc. (SR) is the more undervalued stock at a PEG of 0. 66x versus Atmos Energy Corporation's 2. 48x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, National Fuel Gas Company (NFG) trades at 10. 3x forward P/E versus 21. 9x for Atmos Energy Corporation — 11. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NFG: 25. 9% to $101. 00.

All stocks in this comparison pay dividends.

Spire Inc. (SR) offers the highest yield at 3. 6%, versus 1. 9% for Atmos Energy Corporation (ATO).

For long-horizon retirement investors, New Jersey Resources Corporation (NJR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0.

13), 3. 2% yield). Both have compounded well over 10 years (NJR: +90. 4%, SR: +71. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

These companies operate in different sectors (NFG (Energy) and ATO (Utilities) and NJR (Utilities) and SR (Utilities)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.

In terms of investment character: NFG is a small-cap high-growth stock; ATO is a mid-cap quality compounder stock; NJR is a small-cap deep-value stock; SR is a small-cap income-oriented stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.