NYSE : NWN
Northwest Natural Holding Company — Financial statements
Utilities · Utilities - Regulated Gas · United States
Last price 49.96 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.10B
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Financial statements
Northwest Natural Holding Company (NWN) reported revenue of 1.29B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.29B | 1.29B | 1.15B | 1.20B | 1.04B | 860.40M |
| Fuel & Purchased Power | 377.98M | 395.58M | 412.38M | 499.84M | 429.63M | 292.31M |
| Operations & Maintenance | 329.64M | 323.63M | 291.75M | 270.47M | 221.79M | 200.96M |
| Depreciation & Amortization | 171.82M | 165.51M | 137.90M | 125.58M | 116.71M | 113.53M |
| Other Operating Expenses | 135.15M | 135.56M | 124.47M | 113.72M | 104.07M | 103.03M |
| Total Operating Expenses | 1.01B | 1.02B | 966.51M | 1.01B | 872.20M | 709.84M |
| Operating Income | 278.25M | 269.09M | 186.49M | 187.87M | 165.15M | 150.56M |
| Interest Expense | -133.63M | -126.81M | -84.09M | -76.57M | -53.25M | -44.49M |
| Interest Income | 6.20M | 6.20M | 5.40M | |||
| Net Interest Expense | -127.43M | -120.61M | -78.69M | -76.57M | -53.25M | -44.49M |
| Other Non-Operating Income (Expenses) | 10.79M | 6.20M | 2.15M | 14.93M | 3.53M | -7.00K |
| EBT Excluding Unusual Items | 161.61M | 154.68M | 109.94M | 126.23M | 115.43M | 106.07M |
| Pretax Income | 166.91M | 154.68M | 109.94M | 126.23M | 115.43M | 106.07M |
| Income Tax Expense | 40.92M | 41.36M | 31.07M | 32.36M | 29.13M | 27.41M |
| Earnings From Continuing Ops. | 125.99M | 113.32M | 78.87M | 93.87M | 86.30M | 78.67M |
| Net Income | 125.99M | 113.32M | 78.87M | 93.87M | 86.30M | 78.67M |
| Net Income to Common | 125.99M | 113.32M | 78.87M | 93.87M | 86.30M | 78.67M |
| Shares Outstanding (Basic) | 41.63M | 40.86M | 38.81M | 36.21M | 33.93M | 30.70M |
| Shares Outstanding (Diluted) | 41.75M | 40.95M | 38.87M | 36.27M | 33.98M | 30.75M |
| EPS (Basic) | 3.03 | 2.77 | 2.03 | 2.59 | 2.54 | 2.56 |
| EPS (Diluted) | 3.02 | 2.77 | 2.03 | 2.59 | 2.54 | 2.56 |
| Free Cash Flow | -265.98M | -197.77M | -194.12M | -47.40M | -190.93M | -133.54M |
| Free Cash Flow Per Share | -6.37 | -4.83 | -4.99 | -1.31 | -5.62 | -4.34 |
| Dividend Per Share | 1.97 | 1.96 | 1.95 | 1.94 | 1.93 | 1.92 |
| Profit Margin | 9.74% | 8.79% | 6.84% | 7.84% | 8.32% | 9.14% |
| Free Cash Flow Margin | -20.57% | -15.34% | -16.84% | -3.96% | -18.40% | -15.52% |
| EBITDA | 489.40M | 473.46M | 358.60M | 343.99M | 310.12M | 287.93M |
| EBITDA Margin | 37.85% | 36.72% | 31.10% | 28.73% | 29.89% | 33.47% |
| D&A For EBITDA | 211.15M | 204.37M | 172.11M | 156.12M | 144.97M | 137.37M |
| EBIT | 278.25M | 269.09M | 186.49M | 187.87M | 165.15M | 150.56M |
| EBIT Margin | 21.52% | 20.87% | 16.17% | 15.69% | 15.92% | 17.50% |
| Effective Tax Rate | 24.52% | 26.74% | 28.26% | 25.64% | 25.24% | 25.84% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 24.23M | 36.67M | 38.49M | 32.92M | 29.27M | 18.56M |
| Short-Term Investments | 2.60M | 2.60M | 2.70M | 2.30M | ||
| Accounts Receivable | 105.78M | 230.04M | 215.41M | 201.02M | 254.66M | 181.65M |
| Inventory | 142.89M | 127.70M | 106.95M | 112.57M | 87.10M | 57.26M |
| Restricted Cash | 5.61M | 4.40M | 9.49M | 16.70M | 11.69M | 8.56M |
| Other Current Assets | 218.12M | 201.51M | 184.73M | 235.92M | 361.50M | 171.25M |
| Total Current Assets | 499.23M | 602.93M | 557.77M | 601.44M | 744.21M | 437.28M |
| Property, Plant & Equipment | 4.59B | 4.42B | 3.74B | 3.43B | 3.19B | 2.95B |
| Regulatory Assets | 640.66M | 424.19M | 382.50M | 333.44M | 340.43M | 314.58M |
| Goodwill | 371.61M | 370.81M | 183.80M | 163.34M | 149.28M | 70.57M |
| Long-Term Investments | 34.80M | 35.07M | 36.46M | 57.24M | 46.35M | 41.10M |
| Long-Term Accounts Receivable | 119.42M | 121.47M | 125.65M | 129.88M | 134.30M | 139.00M |
| Other Long-Term Assets | 182.11M | 192.32M | 207.17M | 152.38M | 145.92M | 115.67M |
| Total Assets | 6.44B | 6.17B | 5.23B | 4.87B | 4.75B | 4.06B |
| Accounts Payable | 135.53M | 175.57M | 133.27M | 145.36M | 180.67M | 133.49M |
| Accrued Expenses | 105.00M | 148.15M | 129.02M | 101.70M | 85.19M | 95.20M |
| Short-Term Debt | 121.29M | 171.99M | 170.11M | 89.78M | 258.20M | 389.50M |
| Current Portion of Long-Term Debt | 125.69M | 160.63M | 30.79M | 150.87M | 90.70M | 345.00K |
| Current Portion of Leases | 3.42M | 3.23M | 1.84M | 2.33M | 1.51M | 1.30M |
| Current Income Taxes Payable | 5.41M | 5.41M | 4.73M | 4.73M | 7.17M | 8.19M |
| Other Current Liabilities | 150.76M | 171.48M | 179.27M | 202.11M | 275.31M | 96.74M |
| Total Current Liabilities | 647.09M | 836.45M | 649.02M | 696.88M | 898.73M | 724.76M |
| Long-Term Debt | 2.38B | 2.27B | 1.68B | 1.43B | 1.25B | 1.04B |
| Long-Term Leases | 74.78M | 74.99M | 75.91M | 77.17M | 78.97M | 79.47M |
| Pension & Post-Retirement Benefits | 105.11M | 112.14M | 130.40M | 158.12M | 149.14M | 166.68M |
| Long-Term Deferred Tax Liabilities | 470.62M | 437.47M | 397.15M | 382.67M | 366.02M | 340.23M |
| Other Long-Term Liabilities | 1.21B | 958.73M | 917.11M | 842.99M | 833.85M | 773.72M |
| Total Liabilities | 4.88B | 4.69B | 3.85B | 3.58B | 3.57B | 3.13B |
| Common Stock | 1.07B | 1.04B | 989.35M | 890.98M | 805.25M | 590.77M |
| Retained Earnings | 492.03M | 435.82M | 402.93M | 399.91M | 376.47M | 355.78M |
| Comprehensive Income & Other | -4.52M | -4.75M | -6.90M | -7.05M | -6.29M | -11.40M |
| Shareholders' Equity | 1.56B | 1.48B | 1.39B | 1.28B | 1.18B | 935.15M |
| Total Liabilities & Equity | 6.44B | 6.17B | 5.23B | 4.87B | 4.75B | 4.06B |
| Total Debt | 2.70B | 2.68B | 1.96B | 1.75B | 1.68B | 1.52B |
| Net Cash (Debt) | -2.68B | -2.64B | -1.92B | -1.71B | -1.65B | -1.50B |
| Net Cash Per Share | -64.08 | -64.56 | -49.31 | -47.16 | -48.44 | -48.67 |
| Filing Date Shares Outstanding | 42.09M | 41.56M | 40.24M | 37.68M | 35.54M | 31.16M |
| Total Common Shares Outstanding | 42.09M | 41.56M | 40.22M | 37.63M | 35.52M | 31.13M |
| Working Capital | -147.85M | -233.51M | -91.24M | -95.44M | -154.52M | -287.49M |
| Book Value Per Share | 37.04 | 35.49 | 34.44 | 34.12 | 33.09 | 30.04 |
| Tangible Book Value | 1.19B | 1.10B | 1.20B | 1.12B | 1.03B | 864.58M |
| Tangible Book Value Per Share | 28.22 | 26.57 | 29.87 | 29.78 | 28.89 | 27.77 |
| Machinery | 5.59B | 5.47B | 4.77B | 4.42B | 4.16B | 3.86B |
| Construction In Progress | 252.23M | 172.26M | 149.35M | 131.94M | 105.54M | 140.37M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 125.99M | 113.32M | 78.87M | 93.87M | 86.30M | 78.67M |
| Depreciation & Amortization | 211.15M | 204.37M | 172.11M | 156.12M | 144.97M | 137.37M |
| Change in Accounts Receivable | 5.17M | 8.17M | -15.30M | 50.98M | -76.45M | -44.13M |
| Change in Inventory | -40.18M | -29.20M | -2.73M | -24.11M | -29.27M | -14.57M |
| Change in Accounts Payable | -21.13M | 10.12M | -14.14M | -39.96M | 24.51M | 12.12M |
| Change in Income Taxes | -1.52M | -5.87M | 809.00K | -1.25M | 6.91M | 3.29M |
| Change in Other Net Operating Assets | -59.45M | -37.72M | 13.38M | 65.73M | 15.93M | -27.36M |
| Other Operating Activities | -6.62M | 5.94M | -32.71M | -21.44M | -25.23M | 14.96M |
| Operating Cash Flow | 213.20M | 269.12M | 200.28M | 279.95M | 147.67M | 160.35M |
| Capital Expenditures | -479.18M | -466.89M | -394.40M | -327.35M | -338.60M | -293.89M |
| Cash Acquisitions | -6.80M | -338.13M | -29.82M | -7.53M | -94.28M | -1.29M |
| Investment in Securities | -1.00M | -1.00M | -1.00M | -1.00M | -1.00M | -7.45M |
| Other Investing Activities | -1.01M | -2.88M | -3.77M | 383.00K | -1.58M | 2.51M |
| Investing Cash Flow | -487.99M | -808.90M | -428.99M | -335.50M | -435.46M | -300.12M |
| Short-Term Debt Issued | 80.33M | 380.00M | ||||
| Long-Term Debt Issued | 760.00M | 285.00M | 330.00M | 290.00M | 185.00M | |
| Total Debt Issued | 510.00M | 760.00M | 365.33M | 330.00M | 290.00M | 565.00M |
| Short-Term Debt Repaid | -3.12M | -168.54M | -131.30M | -295.02M | ||
| Long-Term Debt Repaid | -183.13M | -150.00M | -90.00M | -95.00M | ||
| Total Debt Repaid | -271.53M | -186.25M | -150.00M | -258.54M | -131.30M | -390.02M |
| Net Debt Issued (Repaid) | 238.47M | 573.75M | 215.33M | 71.46M | 158.70M | 174.97M |
| Issuance of Common Stock | 45.22M | 47.42M | 90.37M | 66.50M | 208.56M | 17.50M |
| Repurchase of Common Stock | -2.05M | -1.60M | -1.32M | -1.31M | -1.14M | |
| Common Dividends Paid | -79.00M | -77.31M | -72.85M | -67.34M | -62.77M | -55.92M |
| Other Financing Activities | -4.68M | -9.39M | -4.47M | -5.09M | -1.72M | -5.12M |
| Financing Cash Flow | 197.97M | 532.87M | 227.06M | 64.21M | 301.63M | 131.44M |
| Net Cash Flow | -76.82M | -6.91M | -1.64M | 8.66M | 13.84M | -8.33M |
| Free Cash Flow | -265.98M | -197.77M | -194.12M | -47.40M | -190.93M | -133.54M |
| Free Cash Flow Margin | -20.57% | -15.34% | -16.84% | -3.96% | -18.40% | -15.52% |
| Free Cash Flow Per Share | -6.37 | -4.83 | -4.99 | -1.31 | -5.62 | -4.34 |
| Levered Free Cash Flow | -268.72M | -162.62M | -113.37M | -44.07M | -202.34M | -105.08M |
| Unlevered Free Cash Flow | -185.20M | -83.36M | -60.81M | 3.78M | -169.06M | -77.27M |
| Cash Interest Paid | 122.20M | 111.26M | 71.23M | 80.20M | 50.82M | 43.72M |
| Cash Income Tax Paid | 6.63M | 11.41M | 19.39M | 24.26M | 2.78M | 10.55M |
| Change in Working Capital | -117.12M | -54.51M | -17.99M | 51.40M | -58.37M | -70.65M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.12B | 1.94B | 1.59B | 1.43B | 1.67B | 1.50B |
| Enterprise Value | 4.79B | 4.43B | 3.37B | 3.04B | 3.12B | 2.88B |
| PE Ratio | 16.67 | 17.12 | 20.13 | 15.26 | 19.36 | 19.06 |
| PS Ratio | 1.63 | 1.50 | 1.38 | 1.20 | 1.61 | 1.74 |
| PB Ratio | 1.35 | 1.31 | 1.15 | 1.12 | 1.42 | 1.60 |
| P/OCF Ratio | 9.86 | 7.21 | 7.93 | 5.12 | 11.31 | 9.35 |
| EV/Sales Ratio | 3.69 | 3.43 | 2.92 | 2.54 | 3.01 | 3.34 |
| EV/EBITDA Ratio | 9.76 | 9.35 | 9.39 | 8.84 | 10.06 | 9.99 |
| EV/EBIT Ratio | 17.17 | 16.45 | 18.05 | 16.19 | 18.89 | 19.10 |
| Debt / Equity Ratio | 1.73 | 1.82 | 1.41 | 1.36 | 1.43 | 1.62 |
| Debt / EBITDA Ratio | 5.41 | 5.67 | 5.34 | 4.96 | 5.27 | 5.11 |
| Net Debt / Equity Ratio | 1.72 | 1.79 | 1.38 | 1.33 | 1.40 | 1.60 |
| Net Debt / EBITDA Ratio | 5.47 | 5.58 | 5.34 | 4.97 | 5.31 | 5.20 |
| Net Debt / FCF Ratio | -10.06 | -13.37 | -9.87 | -36.09 | -8.62 | -11.21 |
| Quick Ratio | 0.20 | 0.32 | 0.40 | 0.34 | 0.32 | 0.28 |
| Current Ratio | 0.77 | 0.72 | 0.86 | 0.86 | 0.83 | 0.60 |
| Asset Turnover | 0.21 | 0.23 | 0.23 | 0.25 | 0.23 | 0.22 |
| Return on Equity (ROE) | 8.35% | 7.92% | 5.91% | 7.63% | 8.18% | 8.63% |
| Return on Assets (ROA) | 2.84% | 2.95% | 2.31% | 2.44% | 2.34% | 2.41% |
| Return on Capital Employed (ROCE) | 4.80% | 5.00% | 4.10% | 4.50% | 4.30% | 4.50% |
| Earnings Yield | 6.00% | 5.84% | 4.97% | 6.55% | 5.17% | 5.25% |
| FCF Yield | -12.66% | -10.19% | -12.23% | -3.31% | -11.43% | -8.91% |
| Dividend Yield | 3.98% | 4.20% | 4.95% | 5.10% | 4.11% | 3.99% |
| Payout Ratio | 66.25% | 68.22% | 92.37% | 71.74% | 72.73% | 71.08% |
| Buyback Yield / Dilution | -4.22% | -5.36% | -7.18% | -6.71% | -10.51% | -0.50% |
| Total Shareholder Return | -0.22% | -1.16% | -2.23% | -1.61% | -6.40% | 3.49% |