National Fuel Gas Company Capital Reinvestment Ratio
National Fuel Gas Company capital reinvestment ratio. National Fuel Gas Company (NFG) has a Capital Reinvestment Ratio of 0.71x as of June 2026, meaning it reinvests 1% of its operating cash flow ($377.26 Million) in capital expenditures ($266.25 Million). See National Fuel Gas Company free cash flow ratio to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Capital Reinvestment Ratio of National Fuel Gas Company (1994–2025)
Capital reinvestment ratio of National Fuel Gas Company from 1994 to 2025. This chart tracks National Fuel Gas Company's Capital Reinvestment Ratio across 32 annual periods. See financial flexibility index of National Fuel Gas Company to measure the company's free cash flow as a share of total liabilities.
National Fuel Gas Company Capital Reinvestment Ratio by Year (1994–2025)
National Fuel Gas Company capital reinvestment ratio by year from 1994 to 2025. For the full cash flow conversion analysis, see National Fuel Gas Company (NFG) cash conversion ratio.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.83x | $1.10 Billion | $912.82 Million | ▼ -5.0% |
| 2024 | 0.87x | $1.07 Billion | $931.24 Million | ▲ +7.0% |
| 2023 | 0.82x | $1.24 Billion | $1.01 Billion | ▼ -18.3% |
| 2022 | 1.00x | $812.52 Million | $811.83 Million | ▲ +5.2% |
| 2021 | 0.95x | $791.55 Million | $751.73 Million | ▼ -42.4% |
| 2020 | 1.65x | $740.81 Million | $1.22 Billion | ▲ +45.3% |
| 2019 | 1.14x | $694.48 Million | $788.94 Million | ▲ +19.7% |
| 2018 | 0.95x | $615.30 Million | $584.00 Million | ▲ +44.3% |
| 2017 | 0.66x | $684.51 Million | $450.33 Million | ▼ -33.4% |
| 2016 | 0.99x | $588.98 Million | $581.58 Million | ▼ -17.2% |
| 2015 | 1.19x | $853.58 Million | $1.02 Billion | ▲ +18.6% |
| 2014 | 1.01x | $909.39 Million | $914.42 Million | ▲ +5.6% |
| 2013 | 0.95x | $738.57 Million | $703.46 Million | ▼ -39.3% |
| 2012 | 1.57x | $660.79 Million | $1.04 Billion | ▲ +27.1% |
| 2011 | 1.23x | $678.68 Million | $837.61 Million | ▲ +24.5% |
| 2010 | 0.99x | $459.69 Million | $455.76 Million | ▲ +95.0% |
| 2009 | 0.51x | $609.43 Million | $309.93 Million | ▼ -38.3% |
| 2008 | 0.82x | $482.78 Million | $397.73 Million | ▲ +17.4% |
| 2007 | 0.70x | $394.20 Million | $276.73 Million | ▲ +12.5% |
| 2006 | 0.62x | $471.40 Million | $294.16 Million | ▼ -9.8% |
| 2005 | 0.69x | $317.35 Million | $219.53 Million | ▲ +75.5% |
| 2004 | 0.39x | $437.15 Million | $172.34 Million | ▼ -15.4% |
| 2003 | 0.47x | $326.84 Million | $152.25 Million | ▼ -30.7% |
| 2002 | 0.67x | $345.55 Million | $232.37 Million | ▼ -4.9% |
| 2001 | 0.71x | $414.14 Million | $292.71 Million | ▼ -37.5% |
| 2000 | 1.13x | $238.25 Million | $269.37 Million | ▲ +18.0% |
| 1999 | 0.96x | $271.90 Million | $260.50 Million | ▼ -38.4% |
| 1998 | 1.55x | $253.00 Million | $393.20 Million | ▲ +114.0% |
| 1997 | 0.73x | $294.70 Million | $214.00 Million | ▼ -28.7% |
| 1996 | 1.02x | $168.50 Million | $171.60 Million | ▼ -3.3% |
| 1995 | 1.05x | $173.50 Million | $182.80 Million | ▲ +55.3% |
| 1994 | 0.68x | $199.20 Million | $135.10 Million | — |