National Fuel Gas Company (NFG)

Net profit margin

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Net income	US$ in thousands	476,866	566,021	363,647	-123,772	304,290
Revenue	US$ in thousands	2,173,770	2,186,050	1,742,660	1,546,290	1,693,330
Net profit margin		21.94%	25.89%	20.87%	-8.00%	17.97%

September 30, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $476,866K ÷ $2,173,770K
= 21.94%

The net profit margin of National Fuel Gas Co. has displayed a fluctuating trend over the past five years. In 2023, the net profit margin was 21.94%, showing a decrease from 25.89% in 2022. This decline might indicate a reduction in the company's ability to convert revenue into profit. Comparatively, the net profit margin in 2021 was 20.87%, slightly lower than in 2023. Notably, in 2020, the company experienced a negative net profit margin of -8.00%, indicating that the company's expenses exceeded its revenues, resulting in a loss. However, in 2019, the net profit margin was 17.97%, showing a recovery from the negative margin in the previous year. Overall, fluctuations in the net profit margin suggest variations in profitability and financial performance over the past five years.