National Fuel Gas Company (NFG) — Cash Flow Quality Index
National Fuel Gas Company (NFG) has a Cash Flow Quality Index of 2.72x as of June 2026. Operating cash flow of $377.26 Million exceeds net income of $138.62 Million, indicating high earnings quality where cash backs reported profits. Explore cash flow to debt ratio of National Fuel Gas Company to assess how comfortably operating cash covers total debt obligations.
Cash Flow Quality Index
Operating Cash Flow
Net Income
Data as of
National Fuel Gas Company Cash Flow Quality Index (1994–2025)
Historical Cash Flow Quality Index for National Fuel Gas Company across 29 annual periods. Values consistently above 1.0x indicate high-quality earnings. For the full cash flow conversion analysis, see National Fuel Gas Company operating cash flow efficiency.
Annual Cash Flow Quality Index for National Fuel Gas Company (1994–2025)
Year-by-year earnings quality comparison for National Fuel Gas Company.
| Year | Quality Index | Operating CF (USD) | Net Income | YoY Change |
|---|---|---|---|---|
| 2025 | 2.12x | $1.10 Billion | $518.50 Million | ▼ -84.6% |
| 2024 | 13.75x | $1.07 Billion | $77.51 Million | ▲ +430.1% |
| 2023 | 2.59x | $1.24 Billion | $476.87 Million | ▲ +80.7% |
| 2022 | 1.44x | $812.52 Million | $566.02 Million | ▼ -34.1% |
| 2021 | 2.18x | $791.55 Million | $363.65 Million | ▼ -4.6% |
| 2019 | 2.28x | $694.48 Million | $304.29 Million | ▲ +45.2% |
| 2018 | 1.57x | $615.30 Million | $391.52 Million | ▼ -34.9% |
| 2017 | 2.41x | $684.51 Million | $283.48 Million | ▼ -20.5% |
| 2014 | 3.04x | $909.39 Million | $299.41 Million | ▲ +6.9% |
| 2013 | 2.84x | $738.57 Million | $260.00 Million | ▼ -5.4% |
| 2012 | 3.00x | $660.79 Million | $220.08 Million | ▲ +14.3% |
| 2011 | 2.63x | $678.68 Million | $258.40 Million | ▲ +25.2% |
| 2010 | 2.10x | $459.69 Million | $219.13 Million | ▼ -65.3% |
| 2009 | 6.05x | $609.43 Million | $100.71 Million | ▲ +236.8% |
| 2008 | 1.80x | $482.78 Million | $268.73 Million | ▲ +53.8% |
| 2007 | 1.17x | $394.20 Million | $337.45 Million | ▼ -65.8% |
| 2006 | 3.41x | $471.40 Million | $138.09 Million | ▲ +103.8% |
| 2005 | 1.67x | $317.35 Million | $189.49 Million | ▼ -36.2% |
| 2004 | 2.62x | $437.15 Million | $166.59 Million | ▲ +43.7% |
| 2003 | 1.83x | $326.84 Million | $178.94 Million | ▼ -37.8% |
| 2002 | 2.94x | $345.55 Million | $117.68 Million | ▼ -53.6% |
| 2001 | 6.32x | $414.14 Million | $65.50 Million | ▲ +237.6% |
| 2000 | 1.87x | $238.25 Million | $127.21 Million | ▼ -20.8% |
| 1999 | 2.36x | $271.90 Million | $115.00 Million | ▼ -69.8% |
| 1998 | 7.83x | $253.00 Million | $32.30 Million | ▲ +204.9% |
| 1997 | 2.57x | $294.70 Million | $114.70 Million | ▲ +59.6% |
| 1996 | 1.61x | $168.50 Million | $104.70 Million | ▼ -29.6% |
| 1995 | 2.29x | $173.50 Million | $75.90 Million | ▼ -5.4% |
| 1994 | 2.42x | $199.20 Million | $82.40 Million | — |