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National Fuel Gas Company: Business Overview, Financials & Competitive Analysis

National Fuel Gas Company (NYSE: NFG) is a diversified energy company headquartered in Williamsville, New York, that operates an integrated collection of natural gas assets across three business segments: Integrated U...

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What's in This Report
National Fuel Gas Company OverviewStrategic ProfileCompetitive LandscapeIndustry ContextKey facts
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6/ 10Solid

Cyborg Score thesis

Integrated Appalachian energy operator with recovering earnings, stable utility business, and regulatory...

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Industry Energy and Utilities (Natural Gas Production, Transportation, Distribution)
4 named competitors
4 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: June 22, 2026
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National Fuel Gas Company Overview

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National Fuel Gas Company (NYSE: NFG) is a diversified energy company headquartered in Williamsville, New York, that operates an integrated collection of natural gas assets across three business segments: Integrated Upstream & Gathering, Pipeline & Storage, and Utility. The company serves hundreds of thousands of customers across western New York and northwestern Pennsylvania, combining production, transportation, and retail distribution operations.

Strategic Profile

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National Fuel is an integrated energy company with a complementary mix of natural gas assets located in the heart of the prolific Appalachian basin. In fiscal year 2025, National Fuel Gas Company's revenue was $2.28 billion, an increase of 17.11% compared to the previous year's $1.94 billion. Earnings were $518.50 million, an increase of 568.93%.

Competitive Landscape

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National Fuel operates across exploration and production, pipeline and storage, gathering, and utility segments competing primarily with diversified energy companies in the Appalachian region. Its integrated model provides competitive advantages in natural gas supply chain management.

Industry Context

National Fuel Gas Company operates in Energy and Utilities (Natural Gas Production, Transportation, Distribution).

Key facts

Founded: 1902 · Headquarters: Williamsville, New York · Employees: 2,311 · Revenue: $2.28B · Market cap: $7.7B

What the analysts stress-tested

The top findings that survived the multi-agent debate for National Fuel Gas Company.

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Recent developments

Material events tracked by the AskCyborg corpus.

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Named competitors

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Equitable GasAppalachian natural gas producer and midstream operatorColumbia GasNatural gas utility and midstream infrastructure companyPeoples Natural GasRegional natural gas utility and distribution providerTennessee Gas PipelineLarge natural gas pipeline and storage infrastructure operator

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Industry context

National Fuel Gas Company operates in Energy and Utilities (Natural Gas Production, Transportation, Distribution). See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does National Fuel Gas Company do?+
National Fuel Gas Company (NYSE: NFG) is a diversified energy company headquartered in Williamsville, New York, that operates an integrated collection of natural gas assets across three business segments: Integrated U...
What is National Fuel Gas Company's Cyborg Score?+
National Fuel Gas Company has a Cyborg Score of 6/10 (Solid). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are National Fuel Gas Company's main competitors?+
Named competitors include Equitable Gas, Columbia Gas, Peoples Natural Gas, Tennessee Gas Pipeline. The full competitive landscape is in the AskCyborg report.
How can I get the full National Fuel Gas Company research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the National Fuel Gas Company research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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