National Fuel Gas Company (NFG) — Financial Flexibility Index
National Fuel Gas Company (NFG) has a Financial Flexibility Index of 0.11x as of March 2026. Free cash flow of $602.99 Million (operating CF $382.36 Million minus capex $220.64 Million) represents 0% of total liabilities ($5.30 Billion). Check National Fuel Gas Company strategic asset allocation index to assess the company's strategic physical and investment asset allocation.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
National Fuel Gas Company Financial Flexibility Index (1994–2025)
Historical Financial Flexibility Index trend for National Fuel Gas Company across 32 annual periods. See National Fuel Gas Company working capital to net assets to evaluate short-term liquidity relative to the company's equity base.
Annual Financial Flexibility Index for National Fuel Gas Company (1994–2025)
Year-by-year free cash flow to debt coverage for National Fuel Gas Company. For the full company profile including market capitalisation, see NFG market cap overview.
| Year | Flexibility Index | Free Cash Flow (USD) | Operating CF | Total Liabilities | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.36x | $2.01 Billion | $1.10 Billion | $5.62 Billion | ▼ -2.0% |
| 2024 | 0.37x | $2.00 Billion | $1.07 Billion | $5.47 Billion | ▼ -13.6% |
| 2023 | 0.42x | $2.25 Billion | $1.24 Billion | $5.32 Billion | ▲ +51.3% |
| 2022 | 0.28x | $1.62 Billion | $812.52 Million | $5.82 Billion | ▲ +2.8% |
| 2021 | 0.27x | $1.54 Billion | $791.55 Million | $5.68 Billion | ▼ -27.3% |
| 2020 | 0.37x | $1.96 Billion | $740.81 Million | $5.25 Billion | ▲ +9.0% |
| 2019 | 0.34x | $1.48 Billion | $694.48 Million | $4.32 Billion | ▲ +17.3% |
| 2018 | 0.29x | $1.20 Billion | $615.30 Million | $4.10 Billion | ▲ +13.4% |
| 2017 | 0.26x | $1.13 Billion | $684.51 Million | $4.40 Billion | ▼ -9.4% |
| 2016 | 0.28x | $1.17 Billion | $588.98 Million | $4.11 Billion | ▼ -28.6% |
| 2015 | 0.40x | $1.87 Billion | $853.58 Million | $4.69 Billion | ▼ -5.3% |
| 2014 | 0.42x | $1.82 Billion | $909.39 Million | $4.33 Billion | ▲ +17.6% |
| 2013 | 0.36x | $1.44 Billion | $738.57 Million | $4.02 Billion | ▼ -16.1% |
| 2012 | 0.43x | $1.70 Billion | $660.79 Million | $3.98 Billion | ▼ -4.4% |
| 2011 | 0.45x | $1.52 Billion | $678.68 Million | $3.39 Billion | ▲ +64.0% |
| 2010 | 0.27x | $915.46 Million | $459.69 Million | $3.36 Billion | ▼ -5.8% |
| 2009 | 0.29x | $919.36 Million | $609.43 Million | $3.18 Billion | ▼ -17.0% |
| 2008 | 0.35x | $880.51 Million | $482.78 Million | $2.53 Billion | ▲ +17.3% |
| 2007 | 0.30x | $670.92 Million | $394.20 Million | $2.26 Billion | ▼ -10.0% |
| 2006 | 0.33x | $765.56 Million | $471.40 Million | $2.32 Billion | ▲ +53.2% |
| 2005 | 0.22x | $536.88 Million | $317.35 Million | $2.49 Billion | ▼ -14.5% |
| 2004 | 0.25x | $609.49 Million | $437.15 Million | $2.42 Billion | ▲ +34.4% |
| 2003 | 0.19x | $479.09 Million | $326.84 Million | $2.56 Billion | ▼ -23.3% |
| 2002 | 0.24x | $577.92 Million | $345.55 Million | $2.37 Billion | ▼ -16.4% |
| 2001 | 0.29x | $706.85 Million | $414.14 Million | $2.42 Billion | ▲ +28.9% |
| 2000 | 0.23x | $507.62 Million | $238.25 Million | $2.24 Billion | ▼ -20.2% |
| 1999 | 0.28x | $532.40 Million | $271.90 Million | $1.88 Billion | ▼ -22.3% |
| 1998 | 0.37x | $646.20 Million | $253.00 Million | $1.77 Billion | ▼ -2.8% |
| 1997 | 0.38x | $508.70 Million | $294.70 Million | $1.35 Billion | ▲ +43.0% |
| 1996 | 0.26x | $340.10 Million | $168.50 Million | $1.29 Billion | ▼ -8.8% |
| 1995 | 0.29x | $356.30 Million | $173.50 Million | $1.24 Billion | ▲ +3.6% |
| 1994 | 0.28x | $334.30 Million | $199.20 Million | $1.20 Billion | — |