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Natural Gas Distribution SIC 4924
17 companies filing with the SEC under SIC 4924. Median revenue growth +8% year on year in Q3 2026 (middle half +7% to +10%, 9 companies). The growth model expects the industry's combined revenue to grow +30% in Q3 2026. 6 customer or supplier links named in annual reports.
Money flow: where the industry's revenue goes
Drawn in the browser: an estimate of where the industry's revenue goes — what it buys from other industries, the pay that reaches households, taxes and profit — beside its filed cash flow, two tiers of suppliers and its capital spending by kind of asset.
Open the industry: growth distribution, money flow, network →
Who sells to whom
Customers and suppliers named in the companies' annual reports; the share is of the supplier's revenue.
- CRK → VG 18% of the supplier's revenue, $400M
- MDU → ECG
- CVX → NFG
- DTE → NFG
- COP → ATO
- SR → Spire Alabama Inc
Growth model
Industry revenue, the same companies year on year; 80% ranges. Fitted on SEC filings and tested out of sample (how).
| Quarter | Growth Y/Y | Revenue | 80% range |
|---|---|---|---|
| Q3 2026 | +29.6% | $22.8B | $18.3B – $27.4B |
| Q4 2026 | +33.6% | $31.2B | $24.1B – $38.4B |
| Q1 2027 | +34.6% | $38.0B | $28.9B – $47.2B |
| Q2 2027 | +33.8% | $29.2B | $22.0B – $36.4B |
Capital spending and supply chain →
Companies
| Company | Quarterly revenue | Y/Y | Stage |
|---|---|---|---|
| LNG Cheniere Energy | $6.2B | +39% | expansion |
| VG Venture Global | $4.6B | — | deceleration |
| Cheniere Corpus Christi Holdings, LLC | $2.7B | +84% | expansion |
| CQP Cheniere Energy Partners, L.P. | $2.6B | +7% | mature |
| Sabine Pass Liquefaction, LLC | $2.5B | +7% | mature |
| ATO Atmos Energy | $879M | — | mature |
| NFG National Fuel Gas | $537M | — | deceleration |
| Spire Alabama | $420M | — | mature |
| SR Spire | $420M | — | mature |
| NJR New Jersey Resources | $349M | — | reacceleration |
| MDU MDU Resources Group | $348M | +10% | transition |
| NFE New Fortress Energy | $313M | — | mature |
| EE Excelerate Energy | $297M | -24% | contraction |
| Northwest Natural Gas | $244M | +8% | mature |
| NWN Northwest Natural Holding | $178M | +8% | mature |
| SLNG Stabilis Solutions | $14.8M | -27% | transition |
| CETY Clean Energy Technologies | $372K | — | deceleration |
Growth from positive, comparable quarterly revenue as filed; industries are SEC Standard Industrial Classification codes. Data Nov 8, 2026.