National Fuel Gas Company (NFG) — Cash Flow Reinvestment Rate
National Fuel Gas Company (NFG) has a Cash Flow Reinvestment Rate of 0.71x as of June 2026, reinvesting $266.25 Million (capex $266.25 Million ) from operating cash flow of $377.26 Million. See NFG cash flow after capex ratio to measure how efficiently the company converts operating cash flow to free cash.
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. For the full cash flow conversion analysis, see NFG operating cash flow.
Annual Cash Flow Reinvestment Rate for National Fuel Gas Company (1994–2025)
Year-by-year capital reinvestment analysis for National Fuel Gas Company. See NFG financial flexibility index to measure the company's free cash flow as a share of total liabilities.
| 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 | — |