NATIONAL FUEL GAS CO (NFG) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

Low Risk

Limited dilution potential

Last updated: April 30, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares

Recent Dilution: 5.1% (2 years)

Historical Dilution Factor: minimal recent dilution

Outstanding Shares

95M

Potential Supply

Additional shares possible

Splits

None

Past 2 years

Summary

NFG currently has 95M outstanding shares. with minimal authorized share overhang for future dilution. The company has minimally diluted shareholders by 5.1% over the past 2 years.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding
Apr 30, 2026	10-Q filing \| 95.0M shares outstanding	95M
Jan 29, 2026	10-Q filing \| 92.0M shares outstanding	92M
Nov 21, 2025	10-K filing \| 90.5M shares outstanding	91M
Jul 31, 2025	10-Q filing \| 90.4M shares outstanding	90M
May 01, 2025	10-Q filing \| 90.5M shares outstanding	91M
Jan 30, 2025	10-Q filing \| 90.8M shares outstanding	91M
Nov 22, 2024	10-K filing \| 91.8M shares outstanding	92M
Aug 01, 2024	10-Q filing \| 91.9M shares outstanding	92M
May 02, 2024	10-Q filing \| 92.1M shares outstanding	92M
Feb 08, 2024	10-Q filing \| 91.9M shares outstanding	92M
Nov 17, 2023	10-K filing \| 91.7M shares outstanding	92M
Aug 03, 2023	10-Q filing \| 91.8M shares outstanding	92M
May 04, 2023	10-Q filing \| 91.8M shares outstanding	92M
Feb 03, 2023	10-Q filing \| 91.6M shares outstanding	92M
Nov 18, 2022	10-K filing \| 91.4M shares outstanding	91M
Aug 05, 2022	10-Q filing \| 91.5M shares outstanding	91M
May 06, 2022	10-Q filing \| 91.4M shares outstanding	91M
Feb 04, 2022	10-Q filing \| 91.3M shares outstanding	91M
Nov 19, 2021	10-K filing \| 91.1M shares outstanding	91M
Aug 06, 2021	10-Q filing \| 91.2M shares outstanding	91M
May 07, 2021	10-Q filing \| 91.2M shares outstanding	91M
Feb 05, 2021	10-Q filing \| 91.0M shares outstanding	91M
Nov 20, 2020	10-K filing \| 88.0M shares outstanding	88M
Aug 07, 2020	10-Q filing \| 88.3M shares outstanding	88M
May 01, 2020	10-Q filing \| 86.6M shares outstanding	87M
Jan 31, 2020	10-Q filing \| 86.4M shares outstanding	86M

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