Northwest Natural Holding Co NWN
NW Holdings is a holding company headquartered in Portland, Oregon and owns NW Natural, SiEnergy Operating, LLC (SiEnergy Gas Utility or SiEnergy), NW Natural Water Company, LLC (NWN Water Utility or NWN Water), and NW Natural Renewables Holdings, LLC (NWN Renewables).
NW Natural distributes natural gas to residential, commercial, and industrial customers in Oregon and southwest Washington. NW Natural and its predecessors have supplied gas service to the public since 1859, was incorporated in Oregon in 1910, and began doing business as NW Natural in 1997. Prior to the first quarter of 2025, NW Natural's natural gas distribution activities were reported in the natural gas distribution (NGD) segment. All other business activities, including certain gas storage activities, water and wastewater businesses, non-regulated renewable natural gas activities and other investments and activities are aggregated and reported as "other" at their respective registrant.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.21B | $1.12B | $1.17B | $1.04B | $828.2M | $744.4M | $746.4M | $706.1M | $755.0M | $668.2M |
| Total operating expenses | $1.01B | $961.9M | $1.01B | $869.9M | $697.3M | $625.3M | $602.9M | $574.0M | $604.1M | $517.5M |
| Operating income | $280.9M | $191.1M | $184.9M | $167.5M | $163.1M | $148.4M | $143.5M | $132.2M | $150.9M | $150.7M |
| Pre-tax income | $154.7M | $109.9M | $126.2M | $115.4M | $106.1M | $91.4M | $78.0M | $91.5M | $113.1M | $105.4M |
| Income tax | $41.4M | $31.1M | $32.4M | $29.1M | $27.4M | $21.1M | $12.6M | $24.2M | $41.0M | $43.0M |
| Net income | $113.3M | $78.9M | $93.9M | $86.3M | $78.7M | $76.8M | $61.7M | $64.6M | -$55.6M | $58.9M |
| EPS, basic | 2.77 | 2.03 | 2.59 | 2.54 | 2.56 | 2.51 | 2.07 | 2.24 | -1.94 | 2.13 |
| EPS, diluted | 2.77 | 2.03 | 2.59 | 2.54 | 2.56 | 2.51 | 2.07 | 2.24 | -1.93 | 2.12 |
| Shares, diluted (wtd. avg.) | $41.0M | $38.9M | $36.3M | $34.0M | $30.8M | $30.6M | $29.9M | $28.9M | $28.8M | $27.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $36.7M | $38.5M | $49.6M | $41.0M | $27.1M | $35.5M | $12.6M | $14.9M | $3.5M | $3.5M |
| Total current assets | $602.9M | $557.8M | $601.4M | $744.2M | $437.3M | $323.2M | $293.7M | $295.9M | $269.9M | — |
| Property, plant and equipment | $4.35B | $3.67B | $3.36B | $3.11B | $2.87B | $2.65B | $2.44B | $2.42B | $2.24B | — |
| Goodwill | $370.8M | $183.8M | $163.3M | $149.3M | $70.6M | $69.2M | $49.9M | $9.0M | $0 | — |
| Total assets | $6.17B | $5.23B | $4.87B | $4.75B | $4.06B | $3.76B | $3.43B | $3.24B | $3.04B | — |
| Accounts payable | $175.6M | $133.3M | $145.4M | $180.7M | $133.5M | $98.0M | $113.4M | $115.9M | $111.0M | — |
| Short-term debt | $160.6M | $30.8M | $150.9M | $90.7M | $345.0K | $95.3M | $75.1M | $30.0M | $96.7M | — |
| Total current liabilities | $836.4M | $649.0M | $696.9M | $898.7M | $724.8M | $627.1M | $482.2M | $509.1M | $381.9M | — |
| Long-term debt | $2.27B | $1.68B | $1.43B | $1.25B | $1.04B | $860.1M | $806.0M | $706.2M | $683.2M | — |
| Retained earnings | $435.8M | $402.9M | $399.9M | $376.5M | $355.8M | $336.5M | $318.4M | $312.2M | $302.3M | — |
| Total equity | $1.48B | $1.39B | $1.28B | $1.18B | $935.1M | $888.7M | $866.0M | $762.6M | $742.8M | $850.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $269.1M | $200.3M | $279.9M | $147.7M | $160.4M | $145.3M | $186.0M | $168.8M | $206.7M | $222.1M |
| Capital expenditure | $466.9M | $394.4M | $327.3M | $338.6M | $293.9M | $273.0M | $223.5M | $214.6M | $213.3M | $138.4M |
| Investing cash flow | -$808.9M | -$429.0M | -$335.5M | -$435.5M | -$300.1M | -$294.3M | -$303.8M | -$217.5M | -$214.2M | -$136.6M |
| Financing cash flow | $532.9M | $227.1M | $64.2M | $301.6M | $131.4M | $171.8M | $115.5M | $57.8M | $7.4M | -$86.2M |
| Dividends paid | $77.3M | $72.9M | $67.3M | $62.8M | $55.9M | $55.4M | $53.3M | $51.3M | $54.0M | $51.5M |
| Buybacks | — | — | — | — | — | — | $0 | $0 | $2.0M | $1.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-161075.
Others in SIC 4924
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| LNG | Cheniere Energy, Inc. | $60.31B | 12.1x | 26.3% |
| VG | Venture Global, Inc. | $35.89B | 16.8x | 176.9% |
| CQP | Cheniere Energy Partners, L.P. | $33.27B | — | 23.6% |
| ATO | ATMOS ENERGY CORP | $28.32B | 22.5x | 12.9% |
| NFG | NATIONAL FUEL GAS CO | $7.92B | 14.7x | 30.0% |
| NJR | NEW JERSEY RESOURCES CORP | $5.42B | 16.0x | 9.9% |
| OGS | ONE Gas, Inc. | $5.02B | 18.3x | — |
| SR | SPIRE INC | $4.89B | 18.9x | -4.5% |