National Fuel Gas Company (NFG) — Tangible Net Worth Ratio
National Fuel Gas Company (NFG) has a Tangible Net Worth Ratio of 100.0% as of December 2025. This metric is calculated by deducting intangible assets ($0.00) from net assets ($3.59 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See how liquid is National Fuel Gas Company's working capital to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
National Fuel Gas Company Tangible Net Worth Ratio (1994–2025)
This chart shows how National Fuel Gas Company's Tangible Net Worth Ratio has changed across 32 annual periods from 1994 to 2025. As of December 2025, the ratio stands at 100.0%, reflecting net assets of $3.59 Billion with intangible assets of $0.00 USD. See National Fuel Gas Company defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for National Fuel Gas Company (1994–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for National Fuel Gas Company from 1994 to 2025, covering 32 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see National Fuel Gas Company market cap and net worth.
| Year | Tangible NW Ratio | Net Assets (USD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 100.0% | $3.09 Billion | $0.00 | $8.72 Billion | ▲ +0.0 pp |
| 2024 | 100.0% | $2.85 Billion | $0.00 | $8.32 Billion | ▲ +0.0 pp |
| 2023 | 100.0% | $2.96 Billion | $0.00 | $8.28 Billion | ▲ +0.0 pp |
| 2022 | 100.0% | $2.08 Billion | $0.00 | $7.90 Billion | ▲ +0.0 pp |
| 2021 | 100.0% | $1.79 Billion | $0.00 | $7.46 Billion | ▲ +0.0 pp |
| 2020 | 100.0% | $1.97 Billion | $0.00 | $7.22 Billion | ▲ +0.0 pp |
| 2019 | 100.0% | $2.14 Billion | $0.00 | $6.46 Billion | ▲ +0.3 pp |
| 2018 | 99.7% | $1.94 Billion | $5.48 Million | $6.04 Billion | ▲ +0.0 pp |
| 2017 | 99.7% | $1.70 Billion | $5.48 Million | $6.10 Billion | ▲ +0.0 pp |
| 2016 | 99.6% | $1.53 Billion | $5.48 Million | $5.64 Billion | ▼ -0.1 pp |
| 2015 | 99.7% | $2.03 Billion | $5.48 Million | $6.72 Billion | ▼ 0.0 pp |
| 2014 | 99.8% | $2.41 Billion | $5.48 Million | $6.74 Billion | ▲ +0.0 pp |
| 2013 | 99.8% | $2.19 Billion | $5.48 Million | $6.22 Billion | ▲ +0.0 pp |
| 2012 | 99.7% | $1.96 Billion | $5.48 Million | $5.94 Billion | ▲ +0.0 pp |
| 2011 | 99.7% | $1.89 Billion | $5.48 Million | $5.28 Billion | ▼ -0.2 pp |
| 2010 | 99.9% | $1.75 Billion | $1.68 Million | $5.11 Billion | ▲ +1.3 pp |
| 2009 | 98.6% | $1.59 Billion | $21.54 Million | $4.77 Billion | ▲ +0.3 pp |
| 2008 | 98.4% | $1.60 Billion | $26.17 Million | $4.13 Billion | ▲ +0.1 pp |
| 2007 | 98.2% | $1.63 Billion | $28.84 Million | $3.89 Billion | ▲ +0.4 pp |
| 2006 | 97.8% | $1.44 Billion | $31.50 Million | $3.76 Billion | ▲ +1.3 pp |
| 2005 | 96.6% | $1.23 Billion | $42.30 Million | $3.72 Billion | ▲ +0.1 pp |
| 2004 | 96.5% | $1.30 Billion | $45.99 Million | $3.72 Billion | ▲ +9.9 pp |
| 2003 | 86.6% | $1.17 Billion | $157.10 Million | $3.73 Billion | ▼ -2.1 pp |
| 2002 | 88.7% | $1.04 Billion | $117.43 Million | $3.40 Billion | ▲ +4.0 pp |
| 2001 | 84.7% | $1.03 Billion | $157.10 Million | $3.45 Billion | ▼ -15.3 pp |
| 2000 | 100.0% | $996.33 Million | $0.00 | $3.24 Billion | ▲ +0.0 pp |
| 1999 | 100.0% | $966.90 Million | $0.00 | $2.84 Billion | ▲ +0.0 pp |
| 1998 | 100.0% | $915.60 Million | $0.00 | $2.68 Billion | ▲ +0.0 pp |
| 1997 | 100.0% | $913.70 Million | $0.00 | $2.27 Billion | ▲ +0.0 pp |
| 1996 | 100.0% | $856.00 Million | $0.00 | $2.15 Billion | ▲ +0.0 pp |
| 1995 | 100.0% | $802.10 Million | $0.00 | $2.04 Billion | ▲ +0.0 pp |
| 1994 | 100.0% | $780.30 Million | $0.00 | $1.98 Billion | — |