National Fuel Gas Co

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NFG : NYSE : Basic Materials
$58.07 up 0.78 | 1.40%
Today's Range: 57.43 - 58.14
Avg. Daily Volume: 345,200
08/29/16 - 3:57 PM ET

Financial Analysis


NATIONAL FUEL GAS CO's gross profit margin for the third quarter of its fiscal year 2016 has increased when compared to the same period a year ago. Even though sales decreased, the net income has increased. NATIONAL FUEL GAS CO has weak liquidity. Currently, the Quick Ratio is 0.89 which shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year, indicating deteriorating cash flow.

At the same time, stockholders' equity ("net worth") has significantly decreased by 32.02% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.

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Income Statement Q3 FY16 Q3 FY15
Net Sales ($mil)335.62339.82
EBITDA ($mil)189.79179.36
EBIT ($mil)130.9999.5
Net Income ($mil)8.29-293.13


Balance Sheet Q3 FY16 Q3 FY15
Cash & Equiv. ($mil)105.57310.03
Total Assets ($mil)5541.26889.67
Total Debt ($mil)2085.692099.0
Equity ($mil)1527.642247.36


Profitability Q3 FY16 Q3 FY15
Gross Profit Margin56.5552.78
EBITDA Margin56.5552.78
Operating Margin39.0329.28
Sales Turnover0.260.27
Return on Assets-9.31-1.94
Return on Equity-33.79-5.97
Debt Q3 FY16 Q3 FY15
Current Ratio1.311.46
Debt/Capital0.580.48
Interest Expense30.2223.22
Interest Coverage4.334.29


Share Data Q3 FY16 Q3 FY15
Shares outstanding (mil)84.9584.53
Div / share0.410.4
EPS0.1-3.44
Book value / share17.9826.59
Institutional Own % n/a n/a
Avg Daily Volume344361.0518250.0

Valuation


HOLD. The current P/E ratio is negative, which has no meaningful value in the assessment of premium or discount valuation, it simply displays that the company has negative earnings. To use another comparison, its price-to-book ratio of 3.23 indicates a premium versus the S&P 500 average of 2.82 and a discount versus the industry average of 3.75. The price-to-sales ratio is well above both the S&P 500 average and the industry average, indicating a premium. The valuation analysis reveals that, NATIONAL FUEL GAS CO seems to be trading at a premium to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
NFG NM Peers 35.59   NFG 8.21 Peers 10.91

Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings.

NFG's P/E is negative making this valuation measure meaningless.

 

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 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 19.05 Peers 24.70   NFG NA Peers 2.20

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

NFG is trading at a discount 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.

Ratio not available.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
NFG 3.23 Peers 3.75   NFG -290.38 Peers -24.75

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

NFG is trading at a discount 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 significantly 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 3.38 Peers 2.31   NFG -20.01 Peers -16.20

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 significantly trails its peers on the basis of sales growth

 

 

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