National Fuel Gas Company (NFG) — Cash Flow Reinvestment Rate
National Fuel Gas Company (NFG) has a Cash Flow Reinvestment Rate of 0.58x as of March 2026, reinvesting $220.64 Million (capex $220.64 Million ) from operating cash flow of $382.36 Million. Check National Fuel Gas Company earnings quality ratio to evaluate the quality of earnings relative to operating cash generation.
Reinvestment Rate
Total Reinvested
Operating Cash Flow
Capital Expenditures
National Fuel Gas Company Cash Flow Reinvestment Rate (1994–2025)
Historical reinvestment intensity for National Fuel Gas Company across 32 annual periods. Explore National Fuel Gas Company (NFG) long-term investment share to see how much of total assets are deployed in long-term investments.
Annual Cash Flow Reinvestment Rate for National Fuel Gas Company (1994–2025)
Year-by-year capital reinvestment analysis for National Fuel Gas Company. For live market cap and broader valuation context, see NFG market cap overview.
| Year | Reinvestment Rate | Total Reinvested (USD) | Operating CF | Capex | YoY Change |
|---|---|---|---|---|---|
| 2025 | 1.64x | $1.80 Billion | $1.10 Billion | $912.82 Million | ▼ -6.2% |
| 2024 | 1.75x | $1.87 Billion | $1.07 Billion | $931.24 Million | ▲ +2.0% |
| 2023 | 1.72x | $2.12 Billion | $1.24 Billion | $1.01 Billion | ▲ +4.8% |
| 2022 | 1.64x | $1.33 Billion | $812.52 Million | $811.83 Million | ▼ -6.4% |
| 2021 | 1.75x | $1.38 Billion | $791.55 Million | $751.73 Million | ▼ -47.0% |
| 2020 | 3.30x | $2.45 Billion | $740.81 Million | $1.22 Billion | ▲ +44.4% |
| 2019 | 2.29x | $1.59 Billion | $694.48 Million | $788.94 Million | ▲ +26.4% |
| 2018 | 1.81x | $1.11 Billion | $615.30 Million | $584.00 Million | ▲ +41.8% |
| 2017 | 1.28x | $872.90 Million | $684.51 Million | $450.33 Million | ▼ -27.4% |
| 2016 | 1.76x | $1.04 Billion | $588.98 Million | $581.58 Million | ▲ +47.3% |
| 2015 | 1.19x | $1.02 Billion | $853.58 Million | $1.02 Billion | ▲ +18.6% |
| 2014 | 1.01x | $914.42 Million | $909.39 Million | $914.42 Million | ▲ +5.6% |
| 2013 | 0.95x | $703.46 Million | $738.57 Million | $703.46 Million | ▼ -39.3% |
| 2012 | 1.57x | $1.04 Billion | $660.79 Million | $1.04 Billion | ▲ +18.7% |
| 2011 | 1.32x | $896.98 Million | $678.68 Million | $837.61 Million | ▲ +33.3% |
| 2010 | 0.99x | $455.76 Million | $459.69 Million | $455.76 Million | ▲ +95.0% |
| 2009 | 0.51x | $309.93 Million | $609.43 Million | $309.93 Million | ▼ -38.3% |
| 2008 | 0.82x | $397.73 Million | $482.78 Million | $397.73 Million | ▲ +17.4% |
| 2007 | 0.70x | $276.73 Million | $394.20 Million | $276.73 Million | ▲ +12.5% |
| 2006 | 0.62x | $294.16 Million | $471.40 Million | $294.16 Million | ▼ -9.8% |
| 2005 | 0.69x | $219.53 Million | $317.35 Million | $219.53 Million | ▲ +75.5% |
| 2004 | 0.39x | $172.34 Million | $437.15 Million | $172.34 Million | ▼ -15.4% |
| 2003 | 0.47x | $152.25 Million | $326.84 Million | $152.25 Million | ▼ -30.7% |
| 2002 | 0.67x | $232.37 Million | $345.55 Million | $232.37 Million | ▼ -4.9% |
| 2001 | 0.71x | $292.71 Million | $414.14 Million | $292.71 Million | ▼ -37.5% |
| 2000 | 1.13x | $269.37 Million | $238.25 Million | $269.37 Million | ▲ +18.0% |
| 1999 | 0.96x | $260.50 Million | $271.90 Million | $260.50 Million | ▼ -38.4% |
| 1998 | 1.55x | $393.20 Million | $253.00 Million | $393.20 Million | ▲ +114.0% |
| 1997 | 0.73x | $214.00 Million | $294.70 Million | $214.00 Million | ▼ -28.7% |
| 1996 | 1.02x | $171.60 Million | $168.50 Million | $171.60 Million | ▼ -3.3% |
| 1995 | 1.05x | $182.80 Million | $173.50 Million | $182.80 Million | ▲ +55.3% |
| 1994 | 0.68x | $135.10 Million | $199.20 Million | $135.10 Million | — |