National Fuel Gas Company
NYSE: NFG · ENERGY · OIL & GAS INTEGRATED
Updated 2026-04-29
National Fuel Gas Company (NFG) Stock Valuation Analysis
Fair value estimate, historical valuation range, and quality signals for NFG.
Valued
Fundamentals support the current valuation. Strong combination of growth, quality, and price.
NFG historical valuation range
Where current P/E sits in NFG's own 5Y range.
NFG intrinsic value (DCF)
DCF-based fair value estimate vs current market price.
Intrinsic value calculated using discounted cash flow (DCF) model based on projected free cash flows, discount rate, and terminal growth assumptions. A positive margin of safety indicates the current price is below estimated fair value, providing a cushion against estimation error.
NFG valuation signals
Quick-read green flags, caution flags, and risks based on current metrics.
P/E Ratio — History
Current: 12.28x
P/S Ratio — History
Current: 3.52x
Is NFG overvalued in 2026?
National Fuel Gas Company (NFG) currently trades at $88.07 per share with a market capitalization of $8,368,977,000.00. Based on our multi-factor framework, the stock looks attractively valued with a Smart Value Score of 79/100. This score blends growth quality, financial health, and price attractiveness into a single institutional-grade read.
The stock trades at a P/E ratio of 12.3x, below its 5-year median of 12.3x. The PEG ratio of 1.55 points to a price that reasonably reflects expected earnings growth.
Looking at its own history, NFG is currently trading more expensive than 50% of the last 5Y on P/E. This places it in the 50th percentile of its historical range, a reasonable but unremarkable position.
Our discounted cash flow model estimates NFG's intrinsic value at $69.92 per share, against the current market price of $88.07. This implies a premium to fair value of -21.65%. The current price sits well above what projected cash flows justify, implying investors are paying for growth that has not yet materialized.
The Piotroski F-Score of 6/9 puts financial quality in a middling range, neither a standout strength nor an obvious red flag.
Bottom line: NFG looks attractively valued on our framework, with a Smart Value Score of 79/100. The combination of reasonable price, healthy growth, and quality fundamentals makes it worth serious consideration.
Frequently asked questions
Is NFG overvalued in 2026?
Based on a Smart Value Score of 79/100, NFG is not overvalued. Fundamentals support the current price and offer reasonable margin of safety.
What is NFG's fair value?
Our DCF model estimates NFG's intrinsic value at $69.92 per share, versus the current price of $88.07. This produces a margin of safety of -21.65%.
What P/E ratio does NFG trade at?
NFG trades at a P/E of 12.3x on trailing twelve-month earnings, compared to its 5-year median of 12.3x.
Is NFG a buy based on valuation?
WallStSmart does not issue buy or sell recommendations. Our Smart Value Score of 79/100 reflects the combined read on growth, quality, and price. The profile skews favorable for long-term accumulation.
How does NFG's valuation compare to its history?
On P/E, NFG currently sits in the 50th percentile of its own 5Y range. That is above its long-run median relative to where it has traded over the period.
What is NFG's Smart Value Score?
NFG's Smart Value Score is 79/100. The Smart Value Score is a proprietary WallStSmart metric blending growth quality, financial health, and valuation attractiveness into a single 0-100 read. Scores above 75 are rare and indicate strong multi-factor alignment.