National Fuel GAS vs Spire
National Fuel GAS and Spire are similar in size: $2.28bn and $2.48bn of revenue in their latest fiscal years. National Fuel GAS grew faster (17.1% against -4.5%). National Fuel GAS kept more of each dollar of sales as profit: a net margin of 22.8% against 11.0%. National Fuel GAS carries less debt relative to equity (92.1% against 152.6%).
| Latest fiscal year | National Fuel GASNFG, 2025 | SpireSR, 2025 |
|---|---|---|
| Revenue | $2.28bn | $2.48bn |
| Revenue growth | 17.1% | -4.5% |
| Net income | $519m | $272m |
| Operating margin | 35.7% | 21.2% |
| Net margin | 22.8% | 11.0% |
| Return on equity | 33.7% | 8.2% |
| Free cash flow | $187m | −$344m |
| Cash | $43.2m | $5.7m |
| Total debt | $2.85bn | $5.17bn |
| Debt to equity | 92.1% | 152.6% |
| Dividend per share | $2.10 | $3.14 |
| Dividend yield | 2.6% | 3.6% |
| Share buybacks | $54.4m | — |
| Employees | 2,322 | 3,497 |
| Market value | $7.49bn | $5.22bn |
| Price vs our value range | Within our value range | — |
| Moat score | 66 (Moderate) | 38 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 3 buys, 1 sales |