National Fuel Gas (NFG) vs Northwest Natural (NWN)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Northwest Natural (NWN) has outperformed National Fuel Gas (NFG) over the past year, gaining 8.3% versus a loss of 11.9%. Over five years, NFG leads with a +35.3% price change compared with +0.8% for NWN. National Fuel Gas is the larger company by market cap ($7.48 billion vs $2.01 billion), about 3.7 times the size.
On valuation, National Fuel Gas trades at a lower forward P/E (10.5x vs 14.8x for Northwest Natural). Northwest Natural offers the higher dividend yield (4.12% vs 2.75%). National Fuel Gas converts more of its revenue into profit, with a net margin of 22.8% versus 8.8%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | NFG | NWN |
|---|---|---|
| Share price | $78.66 | $47.73 |
| Market cap | $7.48B | $2.01B |
| 1-day change | +0.58% | -0.15% |
| YTD return | -2.31% | +2.27% |
| 1-year return | -11.89% | +8.34% |
| 5-year return | +35.33% | +0.84% |
| P/E ratio (TTM) | 10.96 | 15.86 |
| Forward P/E | 10.53 | 14.77 |
| EPS (TTM) | $7.18 | $3.01 |
| Dividend yield | 2.75% | 4.12% |
| Annual dividend | $2.16 | $1.97 |
| Revenue (latest FY) | $2.28B | $1.29B |
| Revenue growth (YoY) | +17.11% | +11.83% |
| Net income (latest FY) | $518.50M | $113.32M |
| Gross margin | 90.63% | — |
| Operating margin | 35.72% | 21.79% |
| Net margin | 22.77% | 8.79% |
| 52-week high | $97.06 | $55.99 |
| 52-week low | $75.03 | $43.78 |
| Distance from 52-week high | -18.96% | -14.75% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +18.23% | +20.26% |
| Average volume | 711.54K | 238.13K |
| Shares outstanding | 95.05M | 42.09M |
| Employees | 2,322 | 1,619 |
| Sector | Utilities | Utilities |
| Industry | Oil/Gas Transmission | Oil/Gas Transmission |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- National Fuel Gas is about 3.7 times larger than Northwest Natural by market value ($7.48B vs $2.01B).
- NWN has outperformed NFG by 20.2 percentage points over the past year.
- Northwest Natural trades at a higher earnings multiple (15.9x vs 11.0x trailing P/E).
- Northwest Natural offers a meaningfully higher dividend yield (4.12% vs 2.75%).
- National Fuel Gas is more profitable, keeping 22.8 cents of every revenue dollar as net income versus 8.8 cents for Northwest Natural.
- National Fuel Gas grew revenue faster in its latest fiscal year (+17.11% vs +11.83%).
About National Fuel Gas
NFG stock →National Fuel Gas Company operates as a diversified energy company. It operates through Integrated Upstream and Gathering, Pipeline and Storage, and Utility segments.
Utilities · Oil/Gas Transmission · 2,322 employees
About Northwest Natural
NWN stock →Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in the United States. It operates through three segments: NWN Gas Utility, SiEnergy, and NWN Water.
Utilities · Oil/Gas Transmission · 1,619 employees
NFG vs NWN FAQ
Which is bigger, National Fuel Gas or Northwest Natural?
National Fuel Gas (NFG) is larger, with a market capitalization of $7.48B compared with $2.01B for Northwest Natural (NWN).
Which stock has performed better over the past year, NFG or NWN?
NWN returned +8.34% over the past 12 months, compared with -11.89% for NFG (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, NFG or NWN?
NFG has the lower trailing P/E at 11.0, versus 15.9 for NWN. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, National Fuel Gas or Northwest Natural?
Northwest Natural has the higher yield at 4.12%, compared with 2.75% for National Fuel Gas.
Are National Fuel Gas and Northwest Natural in the same industry?
Yes. Both are classified in the Oil/Gas Transmission industry within the Utilities sector.