STOCK COMPARISON
National Fuel Gas vs Saudi Aramco: Fair Value & Quality
Both stocks run through our valuation models. Here is how National Fuel Gas (NFG) and Saudi Aramco (2222) compare, as of Aug 10, 2026.
As of Aug 10, 2026, Fair Value Calculator sees Saudi Aramco as the less overvalued of the two: National Fuel Gas trades at $80.54 versus a fair value of $48.93 (-39%), while Saudi Aramco trades at SAR 26.50 versus SAR 20.14 (-24%).
National Fuel Gas
NFG · USD · Utilities
-39%
upside to fair value
overvalued
Price$80.54
Fair Value$48.93
Quality63/100
Saudi Aramco
2222.SR · SAR · Energy
-24%
upside to fair value
overvalued
PriceSAR 26.50
Fair ValueSAR 20.14
Quality74/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
National Fuel GasSaudi Aramco
Valuation
10.9×P/E (TTM)17.0×
3.07×P/S (TTM)0.99×
2.49×P/B1.13×
6.5×EV/EBITDA1.9×
1.55×PEG4.27×
2.6%Dividend yield5.1%
$2.14Dividend per shareSAR 1.34
Profitability
27%Net margin22%
42%Operating margin48%
21%Return on equity22%
8%Return on assets19%
Growth
18%Revenue growth (YoY)9%
1.4%Avg. growth/yr (3Y)-9.7%
8.1%Avg. growth/yr (5Y)14.2%
Balance & size
0.77×Debt / equity0.14×
$8BMarket cap$1.7T
expensiveGrowth qualitymixed
Saudi Aramco leads: 5 to 9 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
National Fuel Gasof which business quality 58 · market factors 51
Saudi Aramcoof which business quality 70 · market factors 68
ProfitabilityMargins and returns on capital today
49
70
Quality GrowthAre margins and returns improving?
88
26
CashflowEarnings quality: real cash, not paper profit
61
72
Fin. StrengthBalance sheet, leverage, solvency risk
34
82
InvestmentDisciplined investing over empire-building
38
80
Low VolatilityCalm price path (market factor)
95
100
MomentumPrice trend over the last 3–12 months (market factor)
37
48
52W MomentumDistance to the 52-week high (market factor)
28
65
Net IssuanceBuybacks instead of dilution
89
82
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
National Fuel Gas
DCF Models$32.16
Earnings-Based$57.38
Dividend Discount$23.30
Multiples$79.06
Asset-Based$21.82
Growth DCF$13.09
Economic Profit$46.57
Growth Earnings$75.34
20 of 23 models see the stock below the current price.
Saudi Aramco
DCF ModelsSAR 19.80
Earnings-BasedSAR 18.95
Dividend DiscountSAR 19.16
MultiplesSAR 15.62
Asset-BasedSAR 4.13
Growth DCFSAR 16.60
Economic ProfitSAR 15.52
Growth EarningsSAR 16.30
24 of 25 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
National Fuel Gas
Bear $37.71Fair Value $48.93Bull $97.94
$80.54 = current price (white tick)
Saudi Aramco
Bear SAR 14.55Fair Value SAR 20.14Bull SAR 25.18
SAR 26.50 = current price (white tick)
Compare two other stocks
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
National Fuel Gas · Utilities
Quality score63 · Top 25%
Fair value upside-39% · below median
Saudi Aramco · Energy
Quality score74 · Top 25%
Fair value upside-24% · below median
Bottom line
As of Aug 10, 2026, Fair Value Calculator sees Saudi Aramco as the less overvalued of the two: National Fuel Gas trades at $80.54 versus a fair value of $48.93 (-39%), while Saudi Aramco trades at SAR 26.50 versus SAR 20.14 (-24%).
Saudi Aramco has the higher quality score (74/100).
See the full analysis →
More comparisons
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
