National Fuel Gas Company (NFG) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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NFG Revenue Growth
Revenue Breakdown (FY 2025)
NFG's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
NFG Revenue Analysis (2014–2025)
As of May 8, 2026, National Fuel Gas Company (NFG) generated trailing twelve-month (TTM) revenue of $2.50 billion, reflecting strong growth of +17.6% year-over-year. The most recent quarter (Q2 2026) recorded $858.4 million in revenue, up 31.8% sequentially.
Looking at the longer-term picture, NFG's 5-year compound annual growth rate (CAGR) stands at +8.1%, indicating steady revenue expansion. The company achieved its highest annual revenue of $2.28 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows NFG's business is primarily driven by Utility (59%), Pipeline And Storage (31%), and Intersegment Eliminations (11%). With over half of revenue concentrated in Utility, the company maintains significant focus in this area while developing other growth vectors.
When compared to Energy sector peers including NJR (+8.5% YoY), SR (+1.9% YoY), and SWX (-39.1% YoY), NFG has outperformed the peer group in terms of revenue growth. Compare NFG vs NJR →
NFG Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NFGCurrent | $2.5B | +17.6% | +8.1% | 35.7% | |
 NJR | $2.0B | +8.5% | +0.8% | 21.4% | |
 SR | $2.5B | +1.9% | +5.9% | 21.2% | |
 SWX | $1.9B | -39.1% | -10.1% | 24.4% | |
 NWN | $1.3B | +5.9% | +10.8% | 31.4% | |
 ATO | $4.7B | +8.8% | +10.8% | 33.2% |
NFG Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.28B | +17.1% | $1.51B | 66.1% | $813.5M | 35.7% |
| 2024 | $1.94B | -10.5% | $817.7M | 42.0% | $209.7M | 10.8% |
| 2023 | $2.17B | -0.6% | $847.8M | 39.0% | $755.1M | 34.7% |
| 2022 | $2.19B | +25.4% | $903.0M | 41.3% | $814.5M | 37.3% |
| 2021 | $1.74B | +12.7% | $759.7M | 43.6% | $639.9M | 36.7% |
| 2020 | $1.55B | -8.7% | $567.7M | 36.7% | $29.9M | 1.9% |
| 2019 | $1.69B | +6.3% | $600.7M | 35.5% | $511.8M | 30.2% |
| 2018 | $1.59B | +0.8% | $604.1M | 37.9% | $519.7M | 32.6% |
| 2017 | $1.58B | +8.8% | $678.8M | 43.0% | $593.8M | 37.6% |
| 2016 | $1.45B | -17.5% | $613.5M | 42.2% | $-416,518,000 | -28.7% |
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Start ComparisonNFG — Frequently Asked Questions
Quick answers to the most common questions about buying NFG stock.
Is NFG's revenue growth accelerating or slowing?
NFG revenue is accelerating at +17.6% year-over-year, exceeding the 5-year CAGR of +8.1%. TTM revenue reached $2.5B. Growth momentum has increased versus prior periods.
What is NFG's long-term revenue growth rate?
National Fuel Gas Company's 5-year revenue CAGR of +8.1% reflects the sustained expansion pattern. Current YoY growth of +17.6% is above this long-term average.
How is NFG's revenue distributed by segment?
NFG reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.