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RGCO on Nasdaq

RGC Resources

RGC Resources is an American natural gas transmisison and distribution company based in Roanoke.1 It was founded in 1912.1 Its shares trade on Nasdaq under the symbol RGCO.1

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Last updated Oct 21, 2026.

Overview

$93.9MRevenue, fiscal 20253
$13.3MNet income, fiscal 20253
1912Founded1

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  • TickerRGCO on Nasdaq1
  • IndustryNatural Gas Transmisison & Distribution1
  • HeadquartersRoanoke1
  • Founded inRoanoke1
  • Websitewww.rgcresources.com
  • Incorporated inVA4
  • Business address519 Kimballavenue N.E., Roanoke, Va 240164
  • Filer categoryNon-accelerated filer, Smaller reporting company4

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Resources was incorporated in the Commonwealth of Virginia on July 31, 1998 and, effective July 1, 1999, its subsidiaries were reorganized into the Resources holding company structure. Resources is currently composed of the following subsidiaries: Roanoke Gas and Midstream.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

19.6%Operating margin3
14.1%Net margin3
16.6%Revenue growth, 20253
11.7%Return on equity3
1.28×Debt to equity3
$8.2MFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Gas Utility brought in 99% of the revenue RGC Resources broke down this way in fiscal 2025.

  1. Gas Utility$95.2M399%up 13% from 2024
  2. Product and Service, Other$893.5K31%down 10% from 2024
  3. Non-utility$102.3K30%down 5% from 2024
Products and services by year
Products and services20242025
Gas Utility$84.5M$95.2M
Product and Service, Other$987.3K$893.5K
Non-utility$108.1K$102.3K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs75¢$70.0M
  • Interest7¢$6.5M
  • Income tax4¢$4.1M
  • Profit14¢$13.3M

Out of $93.9M in revenue.3

Where each dollar of operating cash went, fiscal 2025

  • Capital spending71¢$20.7M
  • Dividends paid29¢$8.5M

Out of $28.9M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.36

Financial statements

Revenue7891011123$93.9M in 2025+42% since 2018
0$25.0M$50.0M$75.0M$100.0M2018: $66.0M$66.0M20182019: $67.6M$67.6M2019+3%2020: $1.2M$1.2M2020−98%2021: $73.9M$73.9M2021+6287%2022: $82.4M$82.4M2022+12%2023: $94.4M$94.4M2023+15%2024: $80.5M$80.5M2024−15%2025: $93.9M$93.9M2025+17%
Operating income7891011123$18.4M in 2025+61% since 2018
0$5.0M$10.0M$15.0M$20.0M2018: $11.5M$11.5M20182019: $11.6M$11.6M2019+1%2020: $12.5M$12.5M2020+8%2021: $14.8M$14.8M2021+18%2022: $14.9M$14.9M2022+1%2023: $17.7M$17.7M2023+19%2024: $17.1M$17.1M2024−3%2025: $18.4M$18.4M2025+8%
Net income7891011123$13.3M in 2025+82% since 2018
-$40.0M-$20.0M0$20.0M2018: $7.3M$7.3M20182019: $8.7M$8.7M2019+19%2020: $10.6M$10.6M2020+21%2021: $10.1M$10.1M2021−4%2022: -$31.7M-$31.7M20222023: $11.3M$11.3M20232024: $11.8M$11.8M2024+4%2025: $13.3M$13.3M2025+13%

Every line of the income statement as filed: the last 2 fiscal years, latest first.3

Period ending2025-09-302024-09-30
Revenues$95.3M$84.6M
Operations and maintenance$19.9M$18.4M
Taxes other than income taxes$2.9M$2.7M
Depreciation and amortization$11.5M$10.5M
Total operating expenses$76.9M$67.6M
OPERATING INCOME$18.4M$17.1M
Equity in earnings of unconsolidated affiliate$3.2M$3.9M
Other income, net$2.2M$1.0M
Interest expense$6.5M$6.5M
INCOME BEFORE INCOME TAXES$17.4M$15.5M
INCOME TAX EXPENSE$4.1M$3.7M
NET INCOME$13.3M$11.8M
Basic (in dollars per share)$1.29$1.16
Diluted (in dollars per share)$1.29$1.16
Basic (in shares)10.3M shares10.2M shares
Diluted (in shares)10.3M shares10.2M shares

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Corporate structure

RGC Resources sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of RGC Resources

  • RGC Resources Roanoke

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What RGC Resources reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Operating-lease assets (leased space)$341.6K3 Sep 30, 2025$331.3K12 Sep 30, 2024+3.1%

Investments

ItemLatestA year beforeChange
Long-term investments$20.7M3 Sep 30, 2025$21.1M3 Sep 30, 2024−1.6%

Properties, in its own words

Included in “Utility Property” on the Company’s consolidated balance sheet are storage plant, transmission plant, distribution plant and general plant of Roanoke Gas consistent with other natural gas utilities. The Company has approximately 1,184 miles of transmission and distribution pipeline representing 89% of the total utility property. The transmission and distribution pipelines are located on or under public roads, highways or private property for which the Company has obtained the legal authorization and rights to operate.

Roanoke Gas currently owns and operates eleven metering stations through which it measures and regulates the gas being delivered by its suppliers. These stations are located at various points throughout the Company’s distribution system.

The rest of Item 2

Roanoke Gas owns a liquefied natural gas storage facility located in its service territory that has the capacity to store up to 200,000 DTH of natural gas.

Roanoke Gas also began operation of an RNG facility, that it owns, during fiscal 2023 as part of a cooperative agreement with the local water authority to produce commercial quality biogas at the regional pollution control facility. The Company leases the land upon which the RNG facility is located.

The Company’s executive, accounting and business offices, along with its operations departments, are located on Kimball Avenue in Roanoke, Virginia.

Although the Company considers its present properties to be adequate, management continues to evaluate the adequacy of its current facilities as additional needs arise.

Item 2 of the 10-K filed Dec 4, 2025.5

Leadership

Who has led RGC Resources, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. John B. Williamson Iii.2006–2013
  2. Orazio John S. D.2013–2020
  3. Paul W. Nester2020–now

Chair

  1. John B. Williamson Iii.2006–2014

President

  1. John B. Williamson Iii.2006–2013
  2. Orazio John S. D.2014–2020
  3. Paul W. Nester2020–now

Chief financial officer

  1. Howard T. Lyon2009–2010
  2. Paul W. Nester2012–2020
  3. Randall P. Burton Ii.2020–2021
  4. Lawrence T. Oliver2021–2022
  5. Jason A. Field2022–2023
  6. Timothy J. Mulvaney2024–now

Chief operating officer

  1. Orazio John S. D.2006–2012
  2. C. James Shockley Jr.2019–now
197019801990200020102020
Board members and other officers (25)

Timeline

  1. Sep 14, 20268-K Regulation FD disclosure53
  2. Aug 7, 20268-K Regulation FD disclosure54
  3. Aug 5, 20268-K Results of operations; Other events55
  4. Jun 4, 20268-K Entered a material agreement; New debt or obligation56
  5. May 18, 20268-K Regulation FD disclosure57
  6. May 8, 20268-K Regulation FD disclosure58
  7. May 6, 20268-K Results of operations; Other events59
  8. Apr 1, 20268-K Entered a material agreement; New debt or obligation60
  9. Mar 19, 20268-K Entered a material agreement; New debt or obligation61
  10. Feb 10, 20268-K Regulation FD disclosure62
  11. Feb 5, 20268-K Results of operations; Other events63
  12. Jan 28, 20268-K Shareholder vote; Other events64
  13. Feb 11, 2020New chief executive Paul W. Nester becomes CEO16
  14. Mar 5, 2013New chief executive Orazio John S. D. becomes CEO17
  15. Mar 3, 2006New chief executive John B. Williamson Iii. becomes CEO18
  16. 1912Founded Founded in Roanoke1

Calendar

Coming up

  1. Nov 18, 2026Reports results for the quarter ending Sep/202665

When it reported results

  1. Aug 5, 2026Reported quarterly or annual results55
  2. May 6, 2026Reported quarterly or annual results59
  3. Feb 5, 2026Reported quarterly or annual results63
  4. Nov 19, 2025Reported quarterly or annual results66
  5. Aug 11, 2025Reported quarterly or annual results67
  6. May 7, 2025Reported quarterly or annual results68
  7. Feb 10, 2025Reported quarterly or annual results69
  8. Nov 13, 2024Reported quarterly or annual results70

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

723 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 89 major events, 590 insider forms, 9 large holders, 15 other. The latest 20:

  1. Oct 2, 20264 EDGAR
  2. Oct 2, 20264 EDGAR
  3. Oct 2, 20264 EDGAR
  4. Oct 2, 20264 EDGAR
  5. Oct 2, 20264 EDGAR
  6. Oct 2, 20264 EDGAR
  7. Oct 2, 20264 EDGAR
  8. Sep 25, 20264 EDGAR
  9. Sep 25, 20264 EDGAR
  10. Sep 25, 20264 EDGAR
  11. Sep 16, 20264 EDGAR
  12. Sep 15, 20264 EDGAR
  13. Sep 15, 20264 EDGAR
  14. Sep 14, 20268-K EDGAR
  15. Sep 11, 20264 EDGAR
  16. Sep 11, 20264 EDGAR
  17. Sep 11, 20264 EDGAR
  18. Sep 2, 20264 EDGAR
  19. Sep 2, 20264 EDGAR
  20. Sep 2, 20264 EDGAR

The 723 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

175 open-market trades by officers, directors and large owners since October 2021: 174 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 24, 2026WILLIAMSON JOHN B IIIDirectorBuy203$20.82$4.2KForm 4
Sep 23, 2026Nester Paul WPresident & CEOBuy300$21.08$6.3KForm 4
Sep 23, 2026JOHNSTON ROBERT BDirectorBuy1,070$20.74$22.2KForm 4
Sep 23, 2026WILLIAMSON JOHN B IIIDirectorBuy2,500$20.94$52.3KForm 4
Sep 15, 2026WILLIAMSON JOHN B IIIDirectorBuy112$21.20$2.4KForm 4
Sep 14, 2026JOHNSTON ROBERT BDirectorBuy420$21.06$8.8KForm 4
Sep 14, 2026WILLIAMSON JOHN B IIIDirectorBuy500$21.32$10.7KForm 4
Sep 10, 2026JOHNSTON ROBERT BDirectorBuy374$21.12$7.9KForm 4
Sep 10, 2026WILLIAMSON JOHN B IIIDirectorBuy1,000$21.29$21.3KForm 4
Sep 10, 2026Nester Paul WPresident & CEOBuy500$21.30$10.7KForm 4
Sep 9, 2026WILLIAMSON JOHN B IIIDirectorBuy309$21.43$6.6KForm 4
Sep 1, 2026Oliver Lawrence T.Senior VP and SecretaryBuy9$21.57$200Form 4
Sep 1, 2026Miles Christen BrookeVP, Human ResourcesBuy5$21.57$100Form 4
Sep 1, 2026WILLIAMSON JOHN B IIIDirectorBuy1,000$21.30$21.3KForm 4
Aug 18, 2026JOHNSTON ROBERT BDirectorBuy806$21.25$17.1KForm 4
Aug 3, 2026Oliver Lawrence T.Senior VP and SecretaryBuy9$21.49$200Form 4
Aug 3, 2026Miles Christen BrookeVP, Human ResourcesBuy5$21.49$100Form 4
Jul 1, 2026Miles Christen BrookeVP, Human ResourcesBuy6$24.27$150Form 4
Jul 1, 2026Oliver Lawrence T.Senior VP and SecretaryBuy12$24.27$300Form 4
Jun 1, 2026Oliver Lawrence T.Senior VP and SecretaryBuy9$22.90$200Form 4

All 175 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Paul W. Nester$467.1K$1.0M76
2025Timothy J. Mulvaney$259.8K$584.1K76
2025Lawrence T. Oliver$269.1K$554.9K76
2024President & CEO$443.9K$1.1M76
2024Sr. VicePresident,$242.8K$541.7K76
2024Vice President,$306.3K$515.1K76
2023President & CEO$422.6K$1.1M76
2023Corp. Secretary$219.1K$455.1K76

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 99. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Ameriprise Financial Inc463,371$11.1M0.0%+53,084
BlackRock, Inc.427,306$10.2M0.0%−1,563
Gamco Investors, Inc. Et Al408,400$9.8M0.1%−8,500
Vanguard Capital Management LLC361,480$8.6M0.0%+2,394
Russell Investments Group, Ltd.258,018$6.2M0.0%−12,719
Gabelli Funds LLC235,800$5.6M0.0%+5,500
Geode Capital Management, LLC218,411$5.2M0.0%+20,313
Prospera Financial Services Inc189,851$4.5M0.1%−3,108
Ancora Advisors LLC136,893$3.3M0.1%−636
Dimensional Fund Advisors LP127,912$3.1M0.0%+981
State Street Corp112,841$2.7M0.0%−58
Teton Advisors, LLC94,500$2.3M1.3%No change
North Star Investment Management Corp.90,000$2.2M0.1%−2,000
Raymond James Financial Inc73,954$1.8M0.0%New
Bank of New York Mellon Corp71,859$1.7M0.0%+3,986
Northern Trust Corp71,308$1.7M0.0%+6,586
Vanguard Portfolio Management LLC57,434$1.4M0.0%+9,404
Vanguard Fiduciary Trust Co52,597$1.3M0.0%+471
TCV Trust & Wealth Management, Inc.49,253$1.2M0.1%No change
Fca Corp /tx44,941$1.1M0.3%+2,168
Renaissance Technologies LLC43,333$1.0M0.0%−2,400
Morgan Stanley30,658$732.8K0.0%+2,250
Cary Street Partners Financial LLC27,416$655.2K0.0%−1,791
Nuveen, LLC27,055$646.6K0.0%No change
Cerity Partners LLC24,719$590.8K0.0%+117

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How RGC Resources is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARRGC RESOURCES INC2
  • CIK0001069533
  • Employer ID (EIN)54-19096975
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inVirginia5
  • Fiscal year endsSeptember 302
  • Industry code (SIC)4923 Natural Gas Transmisison & Distribution2
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
  • Business address519 Kimballavenue N.E., Roanoke, VA 240162
  • Mailing address519 Kimball Avenue N.E., Roanoke, VA 240162
  • Phone54077744272
  • Shares outstanding10,419,556 as of Jul 31, 202614
  • Public float$171.9M as of Mar 31, 20255
  • AuditorDeloitte & Touche LLP, Richmond, Virginia PCAOB ID 34; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceOct 16, 19982
  • Filings3,361 in all: 4 (2,570), 8-K (285), 4/A (189), 10-Q (84), 5 (37), DEF 14A (27), 10-K (26), 3 (17)2
    All 40 form types

    ARS (17), UPLOAD (14), CORRESP (10), SC 13G/A (7), U-3A-2 (7), S-4/A (6), S-8 (6), 424B5 (5), SC 13D/A (5), U-1/A (5), 10-Q/A (4), 8-K/A (4), CT ORDER (4), S-3 (4), SC 13G (4), EFFECT (3), 10-K/A (2), DEFR14A (2), POS AM (2), S-2/A (2), SC 13D (2), 10-K405 (1), 424B2 (1), 424B3 (1), 8-K12G3 (1), NT 10-Q (1), S-2 (1), S-4 (1), S-8 POS (1), SCHEDULE 13D/A (1), SP 15D2 (1), U-1 (1)

  • Latest filingsAnnual report (10-K) Dec 4, 2025
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Dec 9, 2025
    Latest 8-K (8-K) Sep 14, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $5 Par ValueRGCONASDAQ

From the cover page of the 10-K filed Dec 4, 2025 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks RGC Resources names in Item 1A of its 10-K filed Dec 4, 2025: 18 risks under these headings, as written.5

  • OPERATIONAL RISKS
  • Risks associated with the operation of a natural gas distribution pipeline and LNG storage facility.
  • Security incident or cyber attacks on the Company’s computer or information technology systems.
  • Volatility in the price and availability of natural gas.
  • Inability to attract and retain professional and technical employees.
  • Availability of sufficient and reliable pipeline capacity.
  • Inability to complete necessary or desirable pipeline expansion or infrastructure improvement projects.
  • Increased dependence on technology may hinder the Company’s business operations and adversely affect its financial condition and results of operations if such technologies fail.
  • Geographic concentration of business activities.
  • Competition from other energy providers.
  • REGULATORY RISKS
  • Laws or regulations associated with ESG matters.
The other 8 risks
  • Regulatory actions or failure to obtain timely rate relief.
  • Increased compliance and pipeline safety requirements and fines.
  • FINANCIAL RISKS
  • Access to capital to maintain liquidity.
  • Failure to comply with debt covenant requirements.
  • Investment in Mountain Valley Pipeline, LLC.
  • Obligations for income taxes that may arise from examinations by taxing authorities.
  • The cost of providing post-retirement benefits.
  • Exposure to market risks.

Legal proceedings

The Company is not known to be a party to any pending legal proceedings.

The opening of Item 3, Legal Proceedings.5

Sources

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