National Fuel Gas annual free cash flow
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2024
2025
National Fuel Gas Free Cash Flow (FCF) History (NFG)
National Fuel Gas reported $187.2M in free cash flow for fiscal 2025, an increase of 38.95% from the previous fiscal year, with a free cash flow margin of 8.44%.
View full National Fuel Gas company overviewNational Fuel Gas free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-09-30 | $187.2M | $52.5M | +38.95% | +8.44% |
| 2024 | 2024-09-30 | $134.7M | −$92.5M | −40.70% | +7.89% |
| 2023 | 2023-09-30 | $227.2M | $226.5M | +32591.65% | +10.08% |
| 2022 | 2022-09-30 | $695,000 | −$39.1M | −98.25% | +0.02% |
| 2021 | 2021-09-30 | $39.8M | $15.2M | +61.50% | +2.28% |
| 2020 | 2020-09-30 | $24.7M | $119.1M | — | +1.59% |
| 2019 | 2019-09-30 | −$94.5M | −$125.8M | — | −5.58% |
| 2018 | 2018-09-30 | $31.3M | −$202.9M | −86.63% | +1.97% |
| 2017 | 2017-09-30 | $234.2M | $226.8M | +3063.22% | +14.82% |
| 2016 | 2016-09-30 | $7.4M | $172.0M | — | +0.51% |
| 2015 | 2015-09-30 | −$164.6M | −$159.6M | — | — |
| 2014 | 2014-09-30 | −$5.0M | −$40.1M | — | — |
| 2013 | 2013-09-30 | $35.1M | $409.3M | — | — |
| 2012 | 2012-09-30 | −$374.2M | −$220.5M | — | −23.00% |
| 2011 | 2011-09-30 | −$153.7M | −$157.7M | — | −8.64% |
| 2010 | 2010-09-30 | $3.9M | −$294.3M | −98.68% | +0.22% |
| 2009 | 2009-09-30 | $298.2M | $213.1M | +250.63% | — |
| 2008 | 2008-09-30 | $85.0M | — | — | — |
National Fuel Gas quarterly free cash flow
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Q2.12
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Q2.17
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Q3.19
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Q3.20
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Q2.21
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Q2.23
Q3.23
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Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
Q3.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q3 2026 | 2026-06-30 | $111.0M | −$84.3M | −43.17% | +23.42% |
| Q2 2026 | 2026-03-31 | $161.7M | $101.8M | +169.77% | +17.79% |
| Q1 2026 | 2025-12-31 | −$2.7M | $17.6M | — | −0.42% |
| Q4 2025 | 2025-09-30 | −$47.8M | $1.3M | — | −10.78% |
| Q3 2025 | 2025-06-30 | $195.3M | $115.8M | +145.69% | +37.04% |
| Q2 2025 | 2025-03-31 | $59.9M | −$20.3M | −25.34% | +8.16% |
| Q1 2025 | 2024-12-31 | −$20.3M | −$44.3M | — | −3.96% |
| Q4 2024 | 2024-09-30 | −$49.1M | $51.1M | — | −15.84% |
| Q3 2024 | 2024-06-30 | $79.5M | −$33.0M | −29.34% | +23.48% |
| Q2 2024 | 2024-03-31 | $80.3M | −$40.7M | −33.63% | +14.37% |
| Q1 2024 | 2023-12-31 | $24.0M | −$69.9M | −74.43% | +4.80% |
| Q4 2023 | 2023-09-30 | −$100.2M | −$39.3M | — | −29.73% |
| Q3 2023 | 2023-06-30 | $112.5M | $61.2M | +119.24% | +30.43% |
| Q2 2023 | 2023-03-31 | $121.0M | $68.8M | +131.71% | +16.50% |
| Q1 2023 | 2022-12-31 | $93.9M | $135.9M | — | +11.52% |
| Q4 2022 | 2022-09-30 | −$60.8M | $58.4M | — | −4.64% |
| Q3 2022 | 2022-06-30 | $51.3M | −$29.4M | −36.45% | +10.21% |
| Q2 2022 | 2022-03-31 | $52.2M | −$4.6M | −8.12% | +7.44% |
| Q1 2022 | 2021-12-31 | −$42.0M | −$63.5M | — | −7.69% |
| Q4 2021 | 2021-09-30 | −$119.2M | −$71.0M | — | −33.49% |
| Q3 2021 | 2021-06-30 | $80.8M | $3.4M | +4.41% | +20.48% |
| Q2 2021 | 2021-03-31 | $56.8M | $30.6M | +116.46% | +10.31% |
| Q1 2021 | 2020-12-31 | $21.4M | $52.2M | — | +4.86% |
| Q4 2020 | 2020-09-30 | −$48.2M | $29.4M | — | −16.74% |
| Q3 2020 | 2020-06-30 | $77.4M | $48.5M | +168.08% | +23.95% |
| Q2 2020 | 2020-03-31 | $26.3M | −$1.2M | −4.37% | +5.35% |
| Q1 2020 | 2019-12-31 | −$30.7M | $42.4M | — | −6.92% |
| Q4 2019 | 2019-09-30 | −$77.6M | $5.2M | — | −27.31% |
| Q3 2019 | 2019-06-30 | $28.9M | −$58.3M | −66.88% | +8.08% |
| Q2 2019 | 2019-03-31 | $27.5M | −$44.6M | −61.90% | +4.97% |
| Q1 2019 | 2018-12-31 | −$73.2M | −$28.1M | — | −14.65% |
| Q4 2018 | 2018-09-30 | −$82.8M | −$80.6M | — | −28.63% |
| Q3 2018 | 2018-06-30 | $87.1M | −$5.6M | −6.01% | +25.41% |
| Q2 2018 | 2018-03-31 | $72.0M | −$33.0M | −31.43% | +13.32% |
| Q1 2018 | 2017-12-31 | −$45.1M | −$83.7M | — | −10.74% |
| Q4 2017 | 2017-09-30 | −$2.2M | −$31.4M | — | — |
| Q3 2017 | 2017-06-30 | $92.7M | $68.3M | +280.03% | +26.61% |
| Q2 2017 | 2017-03-31 | $105.1M | $78.9M | +301.84% | — |
| Q1 2017 | 2016-12-31 | $38.6M | $111.0M | — | — |
| Q4 2016 | 2016-09-30 | $29.2M | $187.5M | — | — |
| Q3 2016 | 2016-06-30 | $24.4M | $44.9M | — | — |
| Q2 2016 | 2016-03-31 | $26.1M | −$43.9M | −62.65% | — |
| Q1 2016 | 2015-12-31 | −$72.4M | −$16.5M | — | — |
| Q4 2015 | 2015-09-30 | −$158.3M | −$37.1M | — | — |
| Q3 2015 | 2015-06-30 | −$20.5M | −$789,000 | — | — |
| Q2 2015 | 2015-03-31 | $70.0M | −$84.1M | −54.56% | — |
| Q1 2015 | 2014-12-31 | −$55.8M | −$37.6M | — | — |
| Q4 2014 | 2014-09-30 | −$121.2M | −$82.4M | — | — |
| Q3 2014 | 2014-06-30 | −$19.7M | −$66.4M | — | — |
| Q2 2014 | 2014-03-31 | $154.1M | $109.9M | +249.05% | — |
| Q1 2014 | 2013-12-31 | −$18.2M | −$1.2M | — | — |
| Q4 2013 | 2013-09-30 | −$38.7M | $99.6M | — | — |
| Q3 2013 | 2013-06-30 | $46.7M | $121.9M | — | — |
| Q2 2013 | 2013-03-31 | $44.1M | $51.4M | — | +7.38% |
| Q1 2013 | 2012-12-31 | −$17.0M | $136.4M | — | −3.76% |
| Q4 2012 | 2012-09-30 | −$138.3M | −$32.0M | — | −44.15% |
| Q3 2012 | 2012-06-30 | −$75.2M | −$76.9M | — | −22.87% |
| Q2 2012 | 2012-03-31 | −$7.3M | −$64.5M | — | −1.32% |
| Q1 2012 | 2011-12-31 | −$153.4M | −$47.1M | — | −35.48% |
| Q4 2011 | 2011-09-30 | −$106.3M | −$17.8M | — | −37.15% |
| Q3 2011 | 2011-06-30 | $1.7M | −$41.9M | −96.19% | +0.44% |
| Q2 2011 | 2011-03-31 | $57.2M | $14.5M | +34.08% | +8.66% |
| Q1 2011 | 2010-12-31 | −$106.3M | −$112.5M | — | −23.58% |
| Q4 2010 | 2010-09-30 | −$88.4M | — | — | — |
| Q3 2010 | 2010-06-30 | $43.6M | — | — | — |
| Q2 2010 | 2010-03-31 | $42.7M | — | — | — |
| Q1 2010 | 2009-12-31 | $6.1M | — | — | — |
National Fuel Gas free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $24.7M to $187.2M, a compound annual growth rate of 50.00%. National Fuel Gas's latest reported quarter, Q3 2026, generated $111.0M in free cash flow, a decrease of 43.17% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review National Fuel Gas filings at SEC.gov ↗