National Fuel Gas (NFG) vs ONE Gas (OGS)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
ONE Gas (OGS) has outperformed National Fuel Gas (NFG) over the past year, losing 9.6% versus a loss of 12.9%. Over five years, NFG leads with a +34.4% price change compared with +7.0% for OGS. National Fuel Gas is the larger company by market cap ($7.38 billion vs $4.57 billion), about 1.6 times the size.
On valuation, National Fuel Gas trades at a lower forward P/E (10.4x vs 14.4x for ONE Gas). ONE Gas offers the higher dividend yield (3.72% vs 2.78%). National Fuel Gas converts more of its revenue into profit, with a net margin of 22.8% versus 10.9%.
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 | OGS |
|---|---|---|
| Share price | $77.68 | $72.65 |
| Market cap | $7.38B | $4.57B |
| 1-day change | -0.86% | -0.68% |
| YTD return | -2.97% | -5.95% |
| 1-year return | -12.89% | -9.61% |
| 5-year return | +34.42% | +7.03% |
| P/E ratio (TTM) | 10.82 | 15.62 |
| Forward P/E | 10.40 | 14.40 |
| EPS (TTM) | $7.18 | $4.65 |
| Dividend yield | 2.78% | 3.72% |
| Annual dividend | $2.16 | $2.70 |
| Revenue (latest FY) | $2.28B | $2.43B |
| Revenue growth (YoY) | +17.11% | +16.50% |
| Net income (latest FY) | $518.50M | $264.22M |
| Gross margin | 90.63% | 58.85% |
| Operating margin | 35.72% | 18.85% |
| Net margin | 22.77% | 10.88% |
| 52-week high | $97.06 | $90.78 |
| 52-week low | $75.03 | $70.37 |
| Distance from 52-week high | -19.97% | -19.97% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +19.72% | +22.12% |
| Average volume | 709.22K | 537.99K |
| Shares outstanding | 95.05M | 62.86M |
| Employees | 2,322 | 4,000 |
| 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
- ONE Gas trades at a higher earnings multiple (15.6x vs 10.8x trailing P/E).
- National Fuel Gas is more profitable, keeping 22.8 cents of every revenue dollar as net income versus 10.9 cents for ONE Gas.
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 ONE Gas
OGS stock →ONE Gas, Inc., together with its subsidiaries, operates as a regulated natural gas distribution utility company in the United States. The company offers natural gas distribution services.
Utilities · Oil/Gas Transmission · 4,000 employees
NFG vs OGS FAQ
Which is bigger, National Fuel Gas or ONE Gas?
National Fuel Gas (NFG) is larger, with a market capitalization of $7.38B compared with $4.57B for ONE Gas (OGS).
Which stock has performed better over the past year, NFG or OGS?
OGS returned -9.61% over the past 12 months, compared with -12.89% for NFG (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, NFG or OGS?
NFG has the lower trailing P/E at 10.8, versus 15.6 for OGS. 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 ONE Gas?
ONE Gas has the higher yield at 3.72%, compared with 2.78% for National Fuel Gas.
Are National Fuel Gas and ONE Gas in the same industry?
Yes. Both are classified in the Oil/Gas Transmission industry within the Utilities sector.