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National Fuel Gas Co
NFG : NYSE : Basic Materials
$69.98 0.28 | 0.40%
Today's Range: 69.37 - 70.15
Avg. Daily Volume: 500,800
11/26/14 - 4:04 PM ET

Financial Analysis


NATIONAL FUEL GAS CO's gross profit margin for the fourth quarter of its fiscal year 2014 is essentially unchanged when compared to the same period a year ago. The company has grown sales and net income during the past quarter when compared with the same quarter a year ago, however, it was unable to keep up with the growth of the average competitor within its industry. NATIONAL FUEL GAS CO has very weak liquidity. Currently, the Quick Ratio is 0.38 which clearly shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year.

During the same period, stockholders' equity ("net worth") has increased by 9.83% from the same quarter last year. The key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the near future.

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Income Statement Q4 FY14 Q4 FY13
Net Sales ($mil)366.62338.86
EBITDA ($mil)205.91182.89
EBIT ($mil)102.096.64
Net Income ($mil)57.4347.84


Balance Sheet Q4 FY14 Q4 FY13
Cash & Equiv. ($mil)36.8964.86
Total Assets ($mil)6739.66218.35
Total Debt ($mil)1734.61649.0
Equity ($mil)2410.682194.73


Profitability Q4 FY14 Q4 FY13
Gross Profit Margin56.1653.97
EBITDA Margin56.1653.97
Operating Margin27.8228.52
Sales Turnover0.310.29
Return on Assets4.444.18
Return on Equity12.4211.84
Debt Q4 FY14 Q4 FY13
Current Ratio0.771.48
Debt/Capital0.420.43
Interest Expense23.0523.98
Interest Coverage4.434.03


Share Data Q4 FY14 Q4 FY13
Shares outstanding (mil)84.1683.66
Div / share0.390.38
EPS0.680.57
Book value / share28.6526.23
Institutional Own % n/a n/a
Avg Daily Volume495357.0460352.0

Valuation


BUY. NATIONAL FUEL GAS CO's P/E ratio indicates a discount compared to an average of 22.55 for the Gas Utilities industry and a value on par with the S&P 500 average of 19.91. Conducting a second comparison, its price-to-book ratio of 2.42 indicates a discount versus the S&P 500 average of 2.75 and a premium versus the industry average of 2.04. The price-to-sales ratio is well above both the S&P 500 average and the industry average, indicating a premium.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
NFG 19.67 Peers 22.55   NFG 6.42 Peers 8.58

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

NFG is trading at a discount to its peers.

 

Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

NFG is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
NFG 18.54 Peers 18.26   NFG NM Peers 8.18

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

NFG is trading at a premium to its peers.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

NFG's negative PEG ratio makes this valuation measure meaningless.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
NFG 2.42 Peers 2.04   NFG 14.23 Peers 18.10

Premium. A higher price-to-book ratio makes a stock less attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

NFG is trading at a premium to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, NFG is expected to trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
NFG 2.76 Peers 1.52   NFG 15.49 Peers 17.28

Premium. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

NFG is trading at a significant premium to its industry.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

NFG trails its peers on the basis of sales growth

 

 

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