Aug. 20 at 2:34 PM
$NFG — HOLD 🟡
EV/EBITDA at 6.7x and EV/Revenue at 4.1x leave limited valuation upside while leverage stays elevated at 1.5x net debt/EBITDA and
$3.6B of total debt.
Operating margin is 40.1% and net margin is 26.9%, but levered free cash flow is -
$24.8M TTM and -1.0% of revenue, so earnings quality is not fully translating to cash.
Revenue was
$537.5M on 2026-06-30, up 1.1% YoY, while EBITDA was
$341.9M, up 3.7% YoY, and net income was
$138.6M, down 7.5% YoY.
The balance sheet is workable with a 3.2x current ratio and operating cash flow of
$1.3B TTM, but the setup looks more fairly priced than compelling at 11.8x trailing P/E and 11.2x forward P/E.
Full research: https://lf0.com/research/national-fuel-gas-stock-analysis-nfg/?utm_source=stocktwits&utm_medium=social&utm_campaign=research_distribution
