Northwest Natural Holding Company (NWN) Stock Analysis
Utilities · Utilities - Regulated Gas · NYSE
Northwest Natural Holding Company (NWN) posted $1.29B in revenue for fiscal 2025 (up 11.8% year over year), at a 8.8% net margin, and has compounded revenue about 10.8%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Northwest Natural Holding Company
Northwest Natural Holding Company has grown revenue from $668.17M to $1.29B over the last 10 fiscal years, compounding about 10.8% a year. The most recent year was up 11.8%, roughly in line with its longer-run pace.
Net margin sits at 8.8%, up 2 points year over year. It carries about $2.60B of total debt.
The one thing worth a second look in the filings is share count rising (dilution).
Synthesised from Northwest Natural Holding Company's SEC filings — descriptive, not advice. Ask the analyst your own question →
Northwest Natural Holding Company revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $668.17M | $755.04M | $706.14M | $746.37M | $773.68M | $860.40M | $1.04B | $1.20B | $1.15B | $1.29B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $58.90M | $-55.62M | $64.57M | $61.73M | $76.78M | $78.67M | $86.30M | $93.87M | $78.87M | $113.32M |
| Net margin | 8.8% | -7.4% | 9.1% | 8.3% | 9.9% | 9.1% | 8.3% | 7.8% | 6.8% | 8.8% |
Source: Northwest Natural Holding Company SEC filings (10-K).
Northwest Natural Holding Company: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Share count rising (dilution)Shares outstanding grew 33.5% over 4 years (31.1M → 41.6M) — existing holders' stakes are being diluted.
- Heavy debt loadTotal debt of $2765.4M is 10.3× last year's operating cash flow — it would take years of cash flow to clear.
Explore 10 years of Northwest Natural Holding Company financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Northwest Natural Holding Company financial history by metric
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About Northwest Natural Holding Company
Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in the United States. It operates through three segments: NWN Gas Utility, SiEnergy, and NWN Water. The company operates mist gas storage facility contracted to utilities, third-party marketers, and electric generators; offers natural gas asset management services; interstate storage; and operates an appliance retail center. It also engages in the gas storage, water and wastewater, non-regulated renewable natural gas, and other investment businesses. In addition, the company offers natural gas services in Oregon and southwest Washington; water and wastewater connections; and operation, maintenance, and management services to water and wastewater system owners. Northwest Natural Holding Company was founded in 1859 and is headquartered in Portland, Oregon.
Northwest Natural Holding Company — frequently asked questions
What is Northwest Natural Holding Company's revenue?
Northwest Natural Holding Company (NWN) reported revenue of $1.29B for fiscal year 2025, up 11.8% from the prior year, according to its SEC filings.
Is Northwest Natural Holding Company profitable?
Yes. NWN earned net income of $113.32M in fiscal 2025, a net margin of 8.8%.
What is NWN's P/E ratio?
Northwest Natural Holding Company trades at a price-to-earnings ratio of about 17.1 based on the latest data in our nightly-refreshed cache.
How fast is Northwest Natural Holding Company growing?
NWN's revenue grew at roughly 10.8% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Northwest Natural Holding Company have?
As of fiscal year 2025, NWN carried roughly $2.60B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Northwest Natural Holding Company's market cap?
Northwest Natural Holding Company (NWN) has a market capitalization of about $2.10B, based on the latest data in our nightly-refreshed cache.
When does Northwest Natural Holding Company's fiscal year end?
NWN's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from Northwest Natural Holding Company's official SEC filings (10-K and 10-Q), covering 10 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.