Northwest Natural (NWN) Financials

$41.45 +0.69 (+1.69%)

Closing price 05/27/2025 03:59 PM Eastern

Extended Trading

$41.78 +0.32 (+0.78%)

As of 05:23 AM Eastern

Annual Income Statements for Northwest Natural

This table shows Northwest Natural's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Income / (Loss) Attributable to Common Shareholders	79	94	86	79	77	62	65	-56	59	54	59
Consolidated Net Income / (Loss)	79	94	86	79	77	62	65	-56	59	54	59
Net Income / (Loss) Continuing Operations	79	94	86	79	70	65	67	72	62	54	59
Total Pre-Tax Income	110	126	116	106	91	78	92	113	105	89	100
Total Operating Income	191	185	167	163	148	143	132	151	151	124	143
Total Gross Profit	446	424	383	364	331	313	451	430	408	396	389
Total Revenue	1,153	1,197	1,037	860	774	746	706	755	668	724	754
Operating Revenue	1,153	1,197	1,037	860	774	746	706	755	668	724	754
Total Cost of Revenue	707	774	654	497	443	433	256	325	261	327	365
Operating Cost of Revenue	707	774	654	497	443	433	256	325	261	327	365
Total Operating Expenses	255	239	216	201	182	170	318	279	257	272	246
Selling, General & Admin Expense	5.85	5.53	3.62	3.90	3.70	3.25	160	0.00	0.00	-	-
Depreciation Expense	138	126	117	114	104	91	85	81	78	81	79
Other Operating Expenses / (Income)	97	95	83	73	65	63	62	183	166	188	166
Other Special Charges / (Income)	14	13	12	9.94	9.69	12	11	15	13	3.51	0.00
Total Other Income / (Expense), net	-81	-59	-52	-57	-57	-66	-41	-38	-45	-35	-43
Interest & Investment Income	-80	-77	-53	-44	-43	-43	-37	-38	-38	-43	-45
Other Income / (Expense), net	-1.14	18	1.33	-13	-14	-23	-3.60	-0.30	-7.15	7.75	1.93
Income Tax Expense	31	32	29	27	21	13	24	41	43	36	42
Basic Earnings per Share	$2.03	$2.59	$2.54	$2.56	$2.51	$2.07	$2.24	($1.94)	$2.13	$1.96	$2.16
Weighted Average Basic Shares Outstanding	38.81M	36.21M	33.93M	30.70M	30.54M	29.79M	28.80M	28.67M	27.65M	27.35M	27.16M
Diluted Earnings per Share	$2.03	$2.59	$2.54	$2.56	$2.51	$2.07	$2.24	($1.93)	$2.12	$1.96	$2.16
Weighted Average Diluted Shares Outstanding	38.87M	36.27M	33.98M	30.75M	30.60M	29.86M	28.87M	28.75M	27.78M	27.42M	27.22M
Weighted Average Basic & Diluted Shares Outstanding	40.24M	37.68M	-	31.16M	30.61M	29.80M	28.80M	28.70M	27.70M	27.40M	27.20M

This table shows Northwest Natural's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023
Net Income / (Loss) Attributable to Common Shareholders	88	46	-28	-2.73	64	43	-24	2.48	72
Consolidated Net Income / (Loss)	88	45	-27	-2.79	64	45	-24	1.24	72
Net Income / (Loss) Continuing Operations	88	45	-28	-2.73	64	44	-24	2.48	71
Total Pre-Tax Income	122	63	-38	-3.54	89	59	-32	2.72	96
Total Operating Income	154	85	-19	16	110	75	-18	14	114
Total Gross Profit	238	154	34	74	184	140	31	69	185
Total Revenue	494	371	137	212	433	356	141	238	462
Operating Revenue	494	371	137	212	433	356	141	238	462
Total Cost of Revenue	257	217	103	138	249	216	111	169	278
Operating Cost of Revenue	257	217	103	138	249	216	111	169	278
Total Operating Expenses	83	69	53	58	74	64	48	55	71
Selling, General & Admin Expense	1.33	1.60	1.56	0.93	1.76	1.87	1.16	1.26	1.25
Depreciation Expense	41	36	35	34	33	33	30	31	31
Other Operating Expenses / (Income)	35	26	16	21	34	25	16	20	33
Other Special Charges / (Income)	6.25	4.83	1.15	2.33	5.75	4.35	1.03	2.14	5.38
Total Other Income / (Expense), net	-32	-22	-19	-19	-21	-16	-14	-11	-17
Interest & Investment Income	-29	-21	-19	-19	-21	-20	-19	-19	-18
Other Income / (Expense), net	-2.65	-0.58	0.16	0.06	-0.79	3.69	5.18	7.85	1.20
Income Tax Expense	35	18	-10	-0.81	24	15	-8.29	0.24	25
Basic Earnings per Share	$2.18	$1.12	($0.71)	($0.07)	$1.69	$1.20	($0.65)	$0.03	$2.01
Weighted Average Basic Shares Outstanding	40.24M	38.81M	38.39M	38.26M	37.77M	36.21M	36.21M	36.02M	35.61M
Diluted Earnings per Share	$2.18	$1.12	($0.71)	($0.07)	$1.69	$1.20	($0.65)	$0.03	$2.01
Weighted Average Diluted Shares Outstanding	40.30M	38.87M	38.39M	38.26M	37.80M	36.27M	36.21M	36.06M	35.71M
Weighted Average Basic & Diluted Shares Outstanding	40.31M	40.24M	40.13M	38.67M	38.03M	37.68M	-	-	-

This table details how cash moves in and out of Northwest Natural's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Change in Cash & Equivalents	73	8.66	14	108	23	-2.27	9.16	-0.05	-0.69	-5.32	0.06
Net Cash From Operating Activities	200	280	148	160	145	186	169	207	222	174	88
Net Cash From Continuing Operating Activities	200	280	148	160	143	185	169	9.52	217	185	216
Net Income / (Loss) Continuing Operations	79	94	86	79	77	62	65	-56	59	54	59
Consolidated Net Income / (Loss)	79	94	86	79	77	62	65	-56	59	54	59
Depreciation Expense	138	126	117	114	104	91	85	81	78	81	79
Amortization Expense	20	18	16	14	18	19	17	16	16	18	19
Non-Cash Adjustments To Reconcile Net Income	-40	20	28	25	18	73	21	23	19	23	6.84
Changes in Operating Assets and Liabilities, net	3.72	23	-99	-71	-73	-60	-18	-55	46	9.47	52
Net Cash From Investing Activities	-429	-335	-435	-300	-294	-304	-217	-214	-137	-115	-144
Net Cash From Continuing Investing Activities	-429	-335	-435	-300	-290	-302	-218	-214	-135	-115	-144
Purchase of Property, Plant & Equipment	-394	-327	-339	-294	-273	-223	-215	-213	-138	-118	-120
Acquisitions	-31	-8.53	-95	-16	-38	-57	-0.87	0.00	-	-	-
Other Investing Activities, net	-3.77	0.38	-1.58	2.51	-6.22	-22	-2.99	-0.58	2.88	3.02	-24
Net Cash From Financing Activities	227	64	302	131	172	115	58	7.42	-86	-75	-71
Net Cash From Continuing Financing Activities	302	64	302	247	172	115	66	7.42	-86	-75	-71
Repayment of Debt	-74	-264	-133	-115	-268	-99	-98	-42	-245	-65	-80
Payment of Dividends	-73	-67	-63	-56	-55	-53	-51	-54	-52	-49	-50
Issuance of Debt	285	330	290	285	495	175	213	101	150	35	50
Issuance of Common Equity	90	66	209	18	0.00	93	0.00	0.00	53	0.00	8.99
Other Financing Activities, net	74	-1.31	-1.14	116	0.00	0.00	1.55	4.82	8.40	3.88	-
Cash Interest Paid	71	80	51	44	43	41	35	35	36	40	43
Cash Income Taxes Paid	19	24	2.78	11	14	-0.10	27	15	-7.16	17	19

This table details how cash moves in and out of Northwest Natural's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023
Net Change in Cash & Equivalents	59	76	-34	-8.22	40	-122	16	-0.91	115
Net Cash From Operating Activities	180	-19	-26	121	125	-22	3.65	121	177
Net Cash From Continuing Operating Activities	180	-19	-26	121	125	-22	3.65	121	177
Net Income / (Loss) Continuing Operations	88	45	-27	-2.79	64	45	-24	1.24	72
Consolidated Net Income / (Loss)	88	45	-27	-2.79	64	45	-24	1.24	72
Depreciation Expense	41	36	35	34	33	33	30	31	31
Amortization Expense	5.58	5.62	13	0.54	0.55	4.16	12	0.85	0.83
Non-Cash Adjustments To Reconcile Net Income	-0.63	-44	-1.00	3.66	1.44	10	-2.76	3.40	9.09
Changes in Operating Assets and Liabilities, net	46	-62	-46	86	26	-113	-12	84	64
Net Cash From Investing Activities	-375	-103	-126	-118	-82	-85	-99	-79	-73
Net Cash From Continuing Investing Activities	-375	-103	-126	-118	-82	-85	-99	-79	-73
Purchase of Property, Plant & Equipment	-102	-100	-95	-117	-82	-85	-98	-74	-71
Acquisitions	-271	-1.00	-29	-	-1.00	-4.29	0.00	-3.78	-0.47
Other Investing Activities, net	-1.30	-1.56	-1.70	-1.24	0.73	3.91	-1.10	-1.14	-1.29
Net Cash From Financing Activities	254	123	118	-11	-2.92	-15	112	-43	11
Net Cash From Continuing Financing Activities	254	198	118	-11	-2.92	-15	112	-43	11
Repayment of Debt	-101	7.54	81	-16	-146	-24	-20	-32	-188
Payment of Dividends	-19	-19	-18	-18	-18	-17	-17	-17	-17
Issuance of Debt	375	135	-	-	150	-	130	-	200
Issuance of Common Equity	0.96	-0.19	56	23	12	26	19	5.40	17
Other Financing Activities, net	-1.54	75	-0.01	-	-1.31	-	-	-0.01	-1.30
Cash Interest Paid	30	13	23	17	18	28	16	21	15
Cash Income Taxes Paid	0.75	3.56	5.58	9.25	1.00	5.30	6.80	11	1.30

This table presents Northwest Natural's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Total Assets	5,234	4,867	4,748	4,065	3,756	3,428	6,435	3,040	3,080	3,069	3,065
Total Current Assets	558	601	744	437	323	294	569	270	288	331	363
Cash & Equivalents	38	33	29	19	30	9.65	21	3.47	3.52	4.21	9.53
Note & Lease Receivable	0.00	0.00	0.00	-	-	-	-	-	-	-	-
Accounts Receivable	215	201	255	182	143	123	252	128	130	125	127
Inventories, net	107	113	87	57	43	44	88	48	54	71	78
Other Current Assets	197	255	373	180	102	102	189	88	100	122	124
Plant, Property, & Equipment, net	3,672	3,358	3,114	2,871	2,655	2,439	4,839	2,244	2,261	2,183	2,122
Plant, Property & Equipment, gross	4,919	4,557	4,262	3,997	3,734	3,477	6,825	3,205	3,209	3,089	2,993
Accumulated Depreciation	1,247	1,199	1,147	1,126	1,079	1,038	1,986	960	948	907	871
Total Noncurrent Assets	1,004	908	890	756	778	696	1,028	526	531	556	581
Long-Term Investments	82	103	96	89	84	63	113	66	68	68	68
Noncurrent Note & Lease Receivables	126	130	134	139	144	146	-	-	-	-	-
Goodwill	184	163	149	71	69	50	8.95	0.00	-	-	-
Other Noncurrent Operating Assets	613	511	510	457	482	436	905	448	462	488	510
Total Liabilities & Shareholders' Equity	5,234	4,867	4,748	4,065	3,756	3,428	6,435	3,040	3,080	3,069	3,065
Total Liabilities	3,849	3,583	3,573	3,129	2,868	2,562	4,957	2,283	2,229	2,288	2,298
Total Current Liabilities	649	697	899	725	627	482	1,003	382	275	478	469
Short-Term Debt	201	241	349	390	400	224	495	151	93	295	275
Accounts Payable	133	145	181	133	98	113	231	111	86	73	91
Current Deferred & Payable Income Tax Liabilities	16	15	16	16	14	12	22	19	12	10	10
Other Current Liabilities	280	280	343	180	108	113	228	93	77	93	87
Other Current Nonoperating Liabilities	18	16	10	7.50	7.44	21	28	8.37	5.97	5.87	6.08
Total Noncurrent Liabilities	3,200	2,886	2,674	2,405	2,241	2,080	3,954	1,901	1,955	1,811	1,828
Long-Term Debt	1,679	1,425	1,246	1,045	860	806	1,410	683	679	569	622
Capital Lease Obligations	76	77	79	79	81	0.84	0.00	-	-	-	-
Asset Retirement Reserve & Litigation Obligation	730	696	690	658	640	626	1,223	586	349	339	317
Noncurrent Deferred & Payable Income Tax Liabilities	397	383	366	340	319	296	575	271	557	530	531
Noncurrent Employee Benefit Liabilities	130	158	149	167	217	228	444	223	226	223	237
Other Noncurrent Operating Liabilities	187	147	144	115	124	124	301	140	143	149	122
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,385	1,284	1,175	935	889	866	1,478	743	850	781	767
Total Preferred & Common Equity	1,385	1,284	1,175	935	889	866	1,478	743	850	781	767
Total Common Equity	1,385	1,284	1,175	935	889	866	1,478	743	850	781	767
Common Stock	989	891	805	591	565	558	684	449	445	383	375
Retained Earnings	403	400	376	356	337	318	809	302	412	405	402
Accumulated Other Comprehensive Income / (Loss)	-6.90	-7.05	-6.29	-11	-13	-11	-14	-8.44	-6.95	-7.16	-10

This table presents Northwest Natural's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023
Total Assets	5,707	4,944	4,822	4,849	4,665	4,537	4,592
Total Current Assets	540	409	423	538	507	458	576
Cash & Equivalents	100	35	65	72	157	138	141
Note & Lease Receivable	0.00	-	0.00	0.00	-	0.00	0.00
Accounts Receivable	210	78	81	182	77	93	217
Inventories, net	90	109	107	100	95	68	41
Other Current Assets	139	191	170	183	182	160	177
Plant, Property, & Equipment, net	4,002	3,612	3,530	3,442	3,279	3,211	3,156
Plant, Property & Equipment, gross	5,268	4,858	4,765	4,660	4,469	4,392	4,320
Accumulated Depreciation	1,266	1,246	1,234	1,219	1,190	1,181	1,164
Total Noncurrent Assets	1,165	923	869	870	879	868	860
Long-Term Investments	83	82	84	84	105	104	94
Noncurrent Note & Lease Receivables	125	127	128	129	131	132	133
Goodwill	355	181	163	163	152	153	150
Other Noncurrent Operating Assets	603	533	494	494	491	479	483
Total Liabilities & Shareholders' Equity	5,707	4,944	4,822	4,849	4,665	4,537	4,592
Total Liabilities	4,251	3,587	3,476	3,506	3,446	3,296	3,344
Total Current Liabilities	514	567	436	468	590	571	644
Short-Term Debt	118	181	80	96	262	282	313
Accounts Payable	133	97	94	108	100	101	111
Current Deferred & Payable Income Tax Liabilities	24	18	11	27	17	12	31
Other Current Liabilities	223	260	233	221	198	164	175
Other Current Nonoperating Liabilities	16	13	18	16	14	11	13
Total Noncurrent Liabilities	3,737	3,020	3,040	3,037	2,856	2,725	2,700
Long-Term Debt	2,193	1,555	1,575	1,575	1,425	1,295	1,295
Capital Lease Obligations	77	77	77	77	77	78	78
Asset Retirement Reserve & Litigation Obligation	730	709	706	701	683	672	669
Noncurrent Deferred & Payable Income Tax Liabilities	424	389	394	394	376	380	376
Noncurrent Employee Benefit Liabilities	128	139	154	158	146	147	148
Other Noncurrent Operating Liabilities	184	151	134	133	148	154	133
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,456	1,357	1,347	1,343	1,220	1,240	1,248
Total Preferred & Common Equity	1,456	1,357	1,347	1,343	1,220	1,240	1,248
Total Common Equity	1,456	1,357	1,347	1,343	1,220	1,240	1,248
Common Stock	992	987	929	905	851	831	824
Retained Earnings	471	378	424	445	373	414	431
Accumulated Other Comprehensive Income / (Loss)	-6.86	-7.18	-6.50	-6.83	-4.98	-5.26	-6.59

This table displays calculated financial ratios and metrics derived from Northwest Natural's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.71%	15.44%	20.57%	11.21%	3.66%	5.70%	-6.48%	13.00%	-7.68%	-4.01%	-0.59%
EBITDA Growth	0.57%	14.83%	8.42%	8.65%	10.62%	0.39%	-7.10%	4.78%	2.51%	-5.14%	3.85%
EBIT Growth	-6.34%	20.17%	12.12%	12.02%	11.41%	-6.16%	-14.64%	4.90%	8.77%	-8.90%	-1.71%
NOPAT Growth	-0.32%	9.81%	3.55%	6.01%	-5.07%	23.64%	1.08%	7.79%	19.63%	-10.81%	-1.05%
Net Income Growth	-15.98%	8.77%	9.71%	2.46%	24.37%	-4.39%	216.08%	-194.44%	9.67%	-8.50%	-3.05%
EPS Growth	-21.62%	1.97%	-0.78%	1.99%	21.26%	-7.59%	216.06%	-191.04%	8.16%	-9.26%	-3.57%
Operating Cash Flow Growth	-28.46%	89.57%	-7.91%	10.35%	-21.88%	10.22%	-18.35%	-6.95%	27.39%	99.11%	-50.35%
Free Cash Flow Firm Growth	-459.41%	86.69%	-151.81%	42.08%	-111.54%	194.05%	-1,282.51%	25.88%	31.29%	-17.19%	634.56%
Invested Capital Growth	11.42%	6.30%	16.48%	10.59%	16.05%	-43.96%	115.65%	-2.80%	-1.38%	-0.63%	-1.15%
Revenue Q/Q Growth	1.33%	0.00%	0.00%	4.09%	1.71%	2.83%	-1.44%	1.52%	-0.74%	-1.30%	-2.64%
EBITDA Q/Q Growth	7.78%	0.00%	0.00%	-1.66%	6.69%	-0.13%	-0.25%	1.59%	-1.21%	0.23%	0.87%
EBIT Q/Q Growth	2.99%	0.00%	0.00%	-2.92%	11.26%	-2.33%	-1.54%	-0.44%	1.02%	1.07%	-0.69%
NOPAT Q/Q Growth	3.50%	0.00%	0.00%	-4.45%	4.60%	6.43%	5.85%	1.46%	5.32%	2.25%	-0.63%
Net Income Q/Q Growth	0.46%	0.00%	0.00%	-12.77%	24.90%	1.51%	205.12%	-188.54%	-2.37%	2.35%	-0.91%
EPS Q/Q Growth	-3.79%	0.00%	0.00%	-13.22%	26.77%	-3.27%	205.16%	-187.33%	-3.20%	2.08%	-1.37%
Operating Cash Flow Q/Q Growth	1.08%	0.00%	0.00%	-9.02%	-19.94%	12.37%	-2.09%	-0.91%	-6.68%	1,027.82%	-62.55%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	92.68%	-115.26%	6.17%	-0.26%	-42.14%	1.10%	8.39%	19.05%
Invested Capital Q/Q Growth	5.57%	0.00%	0.00%	5.42%	211.89%	4.69%	5.33%	11.45%	3.47%	3.20%	3.51%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.68%	35.40%	36.93%	42.29%	42.76%	41.97%	63.81%	56.98%	61.00%	54.78%	51.53%
EBITDA Margin	30.19%	28.90%	29.05%	32.31%	33.07%	30.99%	32.63%	32.85%	35.42%	31.90%	32.28%
Operating Margin	16.58%	15.44%	16.14%	18.96%	19.17%	19.22%	18.72%	19.99%	22.56%	17.17%	18.96%
EBIT Margin	16.48%	16.94%	16.27%	17.50%	17.37%	16.16%	18.21%	19.95%	21.49%	18.24%	19.22%
Profit (Net Income) Margin	6.84%	7.84%	8.32%	9.14%	9.92%	8.27%	9.14%	-7.37%	8.81%	7.42%	7.78%
Tax Burden Percent	71.76%	74.33%	74.68%	74.16%	84.05%	79.20%	70.57%	-49.19%	55.86%	60.03%	58.50%
Interest Burden Percent	57.85%	62.26%	68.46%	70.45%	67.97%	64.62%	71.17%	75.08%	73.44%	67.77%	69.25%
Effective Tax Rate	28.27%	25.63%	25.21%	25.84%	23.08%	16.22%	26.44%	36.26%	40.80%	39.97%	41.50%
Return on Invested Capital (ROIC)	4.46%	4.88%	4.93%	5.41%	5.77%	4.72%	4.07%	6.26%	5.69%	4.71%	5.23%
ROIC Less NNEP Spread (ROIC-NNEP)	1.11%	2.13%	2.31%	2.22%	2.38%	0.47%	1.52%	-14.28%	1.66%	2.13%	2.26%
Return on Net Nonoperating Assets (RNNOA)	1.45%	2.76%	3.25%	3.21%	2.98%	0.55%	1.74%	-13.25%	1.53%	2.23%	2.49%
Return on Equity (ROE)	5.91%	7.63%	8.18%	8.63%	8.75%	5.27%	5.81%	-6.98%	7.22%	6.94%	7.73%
Cash Return on Invested Capital (CROIC)	-6.34%	-1.23%	-10.30%	-4.65%	-9.08%	61.06%	-69.21%	9.11%	7.08%	5.34%	6.39%
Operating Return on Assets (OROA)	3.76%	4.22%	3.83%	3.85%	3.74%	2.45%	2.71%	4.92%	4.67%	4.30%	4.80%
Return on Assets (ROA)	1.56%	1.95%	1.96%	2.01%	2.14%	1.25%	1.36%	-1.82%	1.92%	1.75%	1.94%
Return on Common Equity (ROCE)	5.91%	7.63%	8.18%	8.63%	8.75%	5.27%	5.81%	-6.98%	7.22%	6.94%	7.73%
Return on Equity Simple (ROE_SIMPLE)	5.69%	7.31%	7.34%	8.41%	8.64%	7.13%	4.37%	-7.49%	6.92%	6.88%	7.65%
Net Operating Profit after Tax (NOPAT)	137	138	125	121	114	120	97	96	89	75	84
NOPAT Margin	11.89%	11.49%	12.08%	14.06%	14.75%	16.11%	13.77%	12.74%	13.35%	10.31%	11.09%
Net Nonoperating Expense Percent (NNEP)	3.35%	2.75%	2.62%	3.20%	3.40%	4.25%	2.55%	20.55%	4.03%	2.58%	2.97%
Return On Investment Capital (ROIC_SIMPLE)	4.10%	4.54%	4.40%	-	-	-	-	-	-	-	-
Cost of Revenue to Revenue	61.32%	64.60%	63.07%	57.71%	57.24%	58.03%	36.19%	43.02%	39.00%	45.22%	48.47%
SG&A Expenses to Revenue	0.51%	0.46%	0.35%	0.45%	0.48%	0.44%	22.65%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	22.10%	19.95%	20.78%	23.33%	23.58%	22.75%	45.10%	37.00%	38.44%	37.61%	32.57%
Earnings before Interest and Taxes (EBIT)	190	203	169	151	134	121	129	151	144	132	145
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	348	346	301	278	256	231	230	248	237	231	243
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.13	0.99	1.27	1.42	1.35	2.14	1.89	1.79	1.46	1.29	1.24
Price to Tangible Book Value (P/TBV)	1.31	1.14	1.45	1.54	1.46	2.27	1.90	1.79	1.46	1.29	1.24
Price to Revenue (P/Rev)	1.36	1.06	1.44	1.54	1.55	2.48	3.96	1.76	1.86	1.40	1.26
Price to Earnings (P/E)	19.89	13.58	17.26	16.88	15.60	29.96	43.27	0.00	21.09	18.80	16.21
Dividend Yield	5.00%	5.31%	4.52%	4.45%	4.88%	3.13%	3.91%	4.06%	4.15%	5.05%	5.28%
Earnings Yield	5.03%	7.37%	5.79%	5.93%	6.41%	3.34%	2.31%	0.00%	4.74%	5.32%	6.17%
Enterprise Value to Invested Capital (EV/IC)	1.05	0.99	1.11	1.16	1.14	1.53	1.40	1.38	1.25	1.14	1.11
Enterprise Value to Revenue (EV/Rev)	2.95	2.41	2.93	3.18	3.13	3.76	6.47	2.78	2.91	2.49	2.35
Enterprise Value to EBITDA (EV/EBITDA)	9.78	8.33	10.08	9.83	9.47	12.14	19.82	8.45	8.21	7.80	7.27
Enterprise Value to EBIT (EV/EBIT)	17.92	14.21	18.00	18.16	18.04	23.27	35.51	13.91	13.53	13.65	12.22
Enterprise Value to NOPAT (EV/NOPAT)	24.83	20.95	24.26	22.60	21.24	23.35	46.96	21.78	21.78	24.16	21.17
Enterprise Value to Operating Cash Flow (EV/OCF)	17.00	10.29	20.58	17.05	16.68	15.09	27.05	10.14	8.75	10.33	20.21
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	1.81	0.00	14.99	17.50	21.30	17.33
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.41	1.36	1.42	1.62	1.51	1.19	1.29	1.12	0.91	1.11	1.17
Long-Term Debt to Equity	1.27	1.17	1.13	1.20	1.06	0.93	0.95	0.92	0.80	0.73	0.81
Financial Leverage	1.30	1.29	1.41	1.45	1.25	1.17	1.15	0.93	0.92	1.05	1.10
Leverage Ratio	3.78	3.91	4.18	4.29	4.09	4.21	4.27	3.84	3.77	3.96	3.97
Compound Leverage Factor	2.19	2.43	2.86	3.02	2.78	2.72	3.04	2.88	2.77	2.69	2.75
Debt to Total Capital	58.54%	57.59%	58.75%	61.82%	60.13%	54.35%	56.31%	52.90%	47.60%	52.54%	53.88%
Short-Term Debt to Total Capital	6.01%	7.95%	12.24%	15.92%	17.94%	11.82%	14.63%	9.57%	5.75%	17.93%	16.51%
Long-Term Debt to Total Capital	52.53%	49.64%	46.50%	45.90%	42.20%	42.53%	41.68%	43.33%	41.85%	34.61%	37.37%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	41.46%	42.41%	41.25%	38.18%	39.87%	45.65%	43.69%	47.10%	52.40%	47.46%	46.12%
Debt to EBITDA	5.62	5.04	5.55	5.45	5.24	4.46	8.27	3.36	3.26	3.74	3.68
Net Debt to EBITDA	5.27	4.64	5.14	5.06	4.79	4.14	7.69	3.08	2.96	3.43	3.36
Long-Term Debt to EBITDA	5.04	4.34	4.40	4.04	3.68	3.49	6.12	2.75	2.87	2.47	2.55
Debt to NOPAT	14.27	12.67	13.36	12.51	11.75	8.58	19.60	8.67	8.66	11.59	10.72
Net Debt to NOPAT	13.39	11.69	12.37	11.62	10.75	7.97	18.22	7.95	7.85	10.62	9.79
Long-Term Debt to NOPAT	12.80	10.92	10.58	9.29	8.24	6.71	14.51	7.10	7.61	7.63	7.43
Altman Z-Score	0.67	0.69	0.66	0.63	0.60	0.83	0.61	0.86	0.90	0.77	0.79
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.86	0.86	0.83	0.60	0.52	0.61	0.57	0.71	1.05	0.69	0.77
Quick Ratio	0.39	0.34	0.32	0.28	0.28	0.28	0.27	0.34	0.49	0.27	0.29
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-195	-35	-262	-104	-179	1,555	-1,653	140	111	85	102
Operating Cash Flow to CapEx	50.78%	85.52%	43.61%	54.56%	54.86%	83.48%	78.81%	96.90%	160.56%	147.38%	73.03%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.23	0.25	0.24	0.22	0.22	0.15	0.15	0.25	0.22	0.24	0.25
Accounts Receivable Turnover	5.54	5.26	4.75	5.30	5.81	3.98	3.72	5.85	5.23	5.74	5.62
Inventory Turnover	6.44	7.75	9.07	9.94	10.22	6.55	3.76	6.39	4.17	4.40	5.28
Fixed Asset Turnover	0.33	0.37	0.35	0.31	0.30	0.21	0.20	0.34	0.30	0.34	0.36
Accounts Payable Turnover	5.08	4.75	4.17	4.29	4.19	2.52	1.50	3.30	3.28	3.98	3.90
Days Sales Outstanding (DSO)	65.91	69.45	76.80	68.88	62.81	91.71	98.02	62.37	69.84	63.58	65.00
Days Inventory Outstanding (DIO)	56.66	47.10	40.26	36.74	35.72	55.73	97.03	57.15	87.54	82.91	69.16
Days Payable Outstanding (DPO)	71.92	76.91	87.62	85.07	87.09	145.03	244.15	110.52	111.27	91.77	93.62
Cash Conversion Cycle (CCC)	50.66	39.64	29.44	20.55	11.44	2.41	-49.10	9.00	46.11	54.72	40.54
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,239	2,907	2,735	2,348	2,123	1,829	3,264	1,514	1,557	1,579	1,589
Invested Capital Turnover	0.38	0.42	0.41	0.38	0.39	0.29	0.30	0.49	0.43	0.46	0.47
Increase / (Decrease) in Invested Capital	332	172	387	225	294	-1,435	1,750	-44	-22	-10	-19
Enterprise Value (EV)	3,404	2,882	3,039	2,734	2,424	2,807	4,565	2,095	1,943	1,802	1,770
Market Capitalization	1,568	1,274	1,490	1,328	1,198	1,849	2,794	1,331	1,242	1,010	951
Book Value per Share	$34.52	$36.87	$33.76	$30.43	$29.07	$28.45	$25.63	$25.87	$30.86	$28.53	$28.20
Tangible Book Value per Share	$29.94	$32.18	$29.47	$28.13	$26.81	$26.81	$25.47	$25.87	$30.86	$28.53	$28.20
Total Capital	3,342	3,027	2,849	2,449	2,229	1,897	3,384	1,577	1,623	1,645	1,664
Total Debt	1,956	1,743	1,674	1,514	1,341	1,031	1,905	834	773	864	896
Total Long-Term Debt	1,755	1,503	1,325	1,124	941	807	1,410	683	679	569	622
Net Debt	1,835	1,607	1,549	1,406	1,227	958	1,771	764	701	792	819
Capital Expenditures (CapEx)	394	327	339	294	265	223	214	213	138	118	120
Debt-free, Cash-free Net Working Capital (DFCFNWC)	71	112	165	84	66	26	40	36	103	144	158
Debt-free Net Working Capital (DFNWC)	110	145	194	102	96	36	61	39	107	148	168
Net Working Capital (NWC)	-91	-95	-155	-287	-304	-188	-434	-112	14	-147	-107
Net Nonoperating Expense (NNE)	58	44	39	42	37	58	33	152	30	21	25
Net Nonoperating Obligations (NNO)	1,854	1,623	1,559	1,413	1,234	963	1,786	771	707	798	822
Total Depreciation and Amortization (D&A)	158	143	133	127	121	111	102	97	93	99	99
Debt-free, Cash-free Net Working Capital to Revenue	6.17%	9.38%	15.92%	9.74%	8.51%	3.49%	5.68%	4.70%	15.46%	19.88%	21.00%
Debt-free Net Working Capital to Revenue	9.51%	12.13%	18.74%	11.90%	12.41%	4.79%	8.59%	5.16%	15.99%	20.46%	22.26%
Net Working Capital to Revenue	-7.91%	-7.97%	-14.90%	-33.41%	-39.27%	-25.25%	-61.52%	-14.82%	2.03%	-20.30%	-14.17%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.03	$2.59	$0.00	$2.56	$2.51	$2.07	$2.24	($1.94)	$2.13	$1.96	$2.16
Adjusted Weighted Average Basic Shares Outstanding	38.81M	36.21M	0.00	30.70M	30.54M	29.79M	28.80M	28.67M	27.65M	27.35M	27.16M
Adjusted Diluted Earnings per Share	$2.03	$2.59	$0.00	$2.56	$2.51	$2.07	$2.24	($1.94)	$2.12	$1.96	$2.16
Adjusted Weighted Average Diluted Shares Outstanding	38.87M	36.27M	0.00	30.75M	30.60M	29.86M	28.87M	28.67M	27.78M	27.42M	27.22M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$2.07	$2.24	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	40.24M	37.68M	0.00	31.16M	30.61M	30.48M	57.74M	28.75M	28.63M	27.44M	27.30M
Normalized Net Operating Profit after Tax (NOPAT)	147	147	135	128	122	131	105	106	97	77	84
Normalized NOPAT Margin	12.77%	12.29%	12.97%	14.92%	15.71%	17.49%	14.93%	14.03%	14.53%	10.60%	11.09%
Pre Tax Income Margin	9.53%	10.55%	11.14%	12.33%	11.81%	10.44%	12.96%	14.98%	15.78%	12.36%	13.31%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	92.37%	71.74%	72.73%	71.08%	72.18%	86.40%	79.47%	-97.00%	87.46%	91.70%	85.35%
Augmented Payout Ratio	92.37%	71.74%	72.73%	71.08%	72.18%	86.40%	79.47%	-100.66%	89.23%	91.70%	85.35%

This table displays calculated financial ratios and metrics derived from Northwest Natural's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	14.03%	4.26%	-3.21%	-10.99%	-6.26%	0.00%	0.00%	22.00%	32.01%
EBITDA Growth	34.65%	9.24%	-2.14%	-6.99%	-2.94%	0.00%	0.00%	24.11%	26.08%
EBIT Growth	39.13%	6.99%	-54.67%	-27.32%	-4.94%	0.00%	0.00%	57.62%	32.32%
NOPAT Growth	39.13%	9.42%	-9.98%	-12.80%	-5.10%	0.00%	0.00%	18.64%	27.95%
Net Income Growth	37.75%	0.81%	-14.69%	-324.04%	-10.95%	0.00%	0.00%	-27.46%	27.44%
EPS Growth	28.99%	-6.67%	-9.23%	-333.33%	-15.92%	0.00%	0.00%	-40.00%	11.67%
Operating Cash Flow Growth	43.64%	9.92%	-822.91%	0.04%	-29.30%	0.00%	0.00%	117.90%	25.40%
Free Cash Flow Firm Growth	-290.38%	0.00%	0.00%	-0.52%	46.32%	0.00%	0.00%	-12.27%	-98.96%
Invested Capital Growth	24.65%	11.42%	12.06%	10.63%	8.76%	0.00%	0.00%	11.91%	16.20%
Revenue Q/Q Growth	33.27%	170.84%	-35.32%	-51.16%	0.00%	151.43%	-40.52%	-48.56%	0.00%
EBITDA Q/Q Growth	56.39%	338.61%	-42.41%	-64.91%	0.00%	292.91%	-45.27%	-63.38%	0.00%
EBIT Q/Q Growth	79.82%	539.93%	-221.60%	-85.54%	0.00%	735.97%	-157.15%	-81.08%	0.00%
NOPAT Q/Q Growth	81.74%	550.45%	-223.09%	-86.19%	0.00%	552.77%	-197.59%	-84.97%	0.00%
Net Income Q/Q Growth	95.36%	265.65%	-874.78%	-104.37%	0.00%	288.46%	-2,004.10%	-98.26%	0.00%
EPS Q/Q Growth	94.64%	257.75%	-914.29%	-104.14%	0.00%	284.62%	-2,266.67%	-98.51%	0.00%
Operating Cash Flow Q/Q Growth	1,025.11%	26.40%	-121.79%	-3.20%	0.00%	-690.68%	-96.98%	-31.59%	0.00%
Free Cash Flow Firm Q/Q Growth	-127.51%	21.17%	-26.27%	-72.39%	0.00%	0.00%	100.00%	7.94%	0.00%
Invested Capital Q/Q Growth	13.55%	5.57%	4.10%	-0.12%	0.00%	6.19%	2.77%	-1.81%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	48.07%	41.50%	24.90%	34.86%	42.48%	39.25%	21.75%	28.84%	39.98%
EBITDA Margin	40.02%	34.10%	21.06%	23.65%	32.92%	32.55%	20.83%	22.63%	31.79%
Operating Margin	31.23%	22.90%	-14.12%	7.42%	25.34%	21.13%	-12.42%	5.82%	24.55%
EBIT Margin	30.69%	22.75%	-14.00%	7.45%	25.15%	22.17%	-8.76%	9.12%	24.80%
Profit (Net Income) Margin	17.79%	12.13%	-19.84%	-1.32%	14.72%	12.55%	-16.74%	0.52%	15.50%
Tax Burden Percent	71.88%	71.23%	71.05%	78.71%	72.11%	75.71%	74.48%	45.68%	74.34%
Interest Burden Percent	80.62%	74.88%	199.39%	-22.45%	81.17%	74.78%	256.51%	12.55%	84.05%
Effective Tax Rate	28.23%	28.24%	0.00%	0.00%	27.50%	25.89%	0.00%	8.92%	26.08%
Return on Invested Capital (ROIC)	8.21%	6.17%	-3.87%	2.11%	7.58%	6.45%	0.00%	2.51%	8.26%
ROIC Less NNEP Spread (ROIC-NNEP)	7.01%	5.25%	-4.72%	1.20%	6.55%	5.77%	0.00%	1.65%	7.39%
Return on Net Nonoperating Assets (RNNOA)	9.59%	6.84%	-5.91%	1.41%	7.77%	7.29%	0.00%	1.85%	9.30%
Return on Equity (ROE)	17.80%	13.00%	-9.79%	3.52%	15.34%	13.75%	0.00%	4.36%	17.56%
Cash Return on Invested Capital (CROIC)	-16.88%	-6.34%	0.00%	-5.35%	-3.69%	-1.20%	0.00%	-5.53%	-9.30%
Operating Return on Assets (OROA)	7.06%	5.19%	-3.32%	1.82%	6.23%	5.52%	0.00%	2.52%	6.60%
Return on Assets (ROA)	4.09%	2.77%	-4.70%	-0.32%	3.64%	3.13%	0.00%	0.14%	4.12%
Return on Common Equity (ROCE)	17.80%	13.00%	-9.79%	3.52%	15.34%	13.75%	0.00%	4.36%	17.56%
Return on Equity Simple (ROE_SIMPLE)	7.07%	0.00%	5.79%	6.09%	6.40%	0.00%	0.00%	8.16%	8.15%
Net Operating Profit after Tax (NOPAT)	111	61	-14	11	80	56	-12	13	84
NOPAT Margin	22.41%	16.44%	-9.88%	5.19%	18.37%	15.66%	-8.70%	5.30%	18.14%
Net Nonoperating Expense Percent (NNEP)	1.19%	0.92%	0.84%	0.91%	1.03%	0.68%	0.75%	0.85%	0.87%
Return On Investment Capital (ROIC_SIMPLE)	2.88%	1.82%	-	-	-	1.84%	-	-	-
Cost of Revenue to Revenue	51.93%	58.50%	75.10%	65.14%	57.52%	60.75%	78.25%	71.16%	60.02%
SG&A Expenses to Revenue	0.27%	0.43%	1.14%	0.44%	0.41%	0.53%	0.82%	0.53%	0.27%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	16.84%	18.57%	39.06%	27.49%	17.13%	18.12%	34.18%	23.02%	15.43%
Earnings before Interest and Taxes (EBIT)	152	84	-19	16	109	79	-12	22	115
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	198	126	29	50	143	116	29	54	147
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.17	1.13	1.15	1.01	0.94	0.99	1.02	1.14	1.23
Price to Tangible Book Value (P/TBV)	1.54	1.31	1.33	1.15	1.07	1.14	1.17	1.30	1.40
Price to Revenue (P/Rev)	1.40	1.36	1.37	1.19	1.08	1.06	0.00	1.18	1.34
Price to Earnings (P/E)	16.51	19.89	20.37	16.79	14.70	13.58	0.00	13.75	15.14
Dividend Yield	4.63%	5.00%	4.84%	5.46%	5.36%	5.31%	5.41%	4.79%	4.37%
Earnings Yield	6.06%	5.03%	4.91%	5.96%	6.80%	7.37%	0.00%	7.27%	6.60%
Enterprise Value to Invested Capital (EV/IC)	1.06	1.05	1.06	1.00	0.97	0.99	1.00	1.06	1.10
Enterprise Value to Revenue (EV/Rev)	3.22	2.95	2.86	2.57	2.44	2.41	0.00	2.37	2.60
Enterprise Value to EBITDA (EV/EBITDA)	9.79	9.78	10.08	9.08	8.72	8.33	0.00	8.50	9.31
Enterprise Value to EBIT (EV/EBIT)	16.78	17.92	17.64	15.37	14.48	14.21	0.00	13.79	15.21
Enterprise Value to NOPAT (EV/NOPAT)	23.24	24.83	24.56	22.05	21.47	20.95	0.00	19.58	20.88
Enterprise Value to Operating Cash Flow (EV/OCF)	15.32	17.00	16.42	12.88	12.51	10.29	0.00	11.33	16.31
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	1.64	1.41	1.34	1.29	1.30	1.36	1.45	1.33	1.35
Long-Term Debt to Equity	1.56	1.27	1.20	1.23	1.23	1.17	1.23	1.11	1.10
Financial Leverage	1.37	1.30	1.25	1.17	1.19	1.26	1.24	1.12	1.26
Leverage Ratio	3.77	3.78	3.73	3.62	3.64	3.91	3.83	3.63	3.87
Compound Leverage Factor	3.04	2.83	7.44	-0.81	2.96	2.92	9.81	0.46	3.25
Debt to Total Capital	62.12%	58.54%	57.18%	56.25%	56.54%	57.59%	59.12%	57.15%	57.46%
Short-Term Debt to Total Capital	3.07%	6.01%	5.70%	2.59%	3.09%	7.95%	8.77%	9.73%	10.67%
Long-Term Debt to Total Capital	59.05%	52.53%	51.48%	53.65%	53.44%	49.64%	50.35%	47.42%	46.79%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	37.88%	41.46%	42.82%	43.75%	43.46%	42.41%	40.88%	42.85%	42.54%
Debt to EBITDA	5.99	5.62	5.61	5.35	5.34	5.04	0.00	4.99	5.25
Net Debt to EBITDA	5.53	5.27	5.25	4.89	4.86	4.64	0.00	4.26	4.52
Long-Term Debt to EBITDA	5.69	5.04	5.05	5.10	5.05	4.34	0.00	4.14	4.27
Debt to NOPAT	14.21	14.27	13.68	12.99	13.14	12.67	0.00	11.48	11.76
Net Debt to NOPAT	13.13	13.39	12.79	11.87	11.97	11.69	0.00	9.80	10.13
Long-Term Debt to NOPAT	13.51	12.80	12.32	12.39	12.42	10.92	0.00	9.53	9.58
Altman Z-Score	0.66	0.60	0.55	0.60	0.68	0.60	0.00	0.63	0.72
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	1.05	0.86	0.72	0.97	1.15	0.86	0.86	0.80	0.89
Quick Ratio	0.60	0.39	0.20	0.34	0.54	0.34	0.40	0.40	0.56
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-617	-271	-344	-272	-158	0.00	0.00	-271	-294
Operating Cash Flow to CapEx	175.77%	-19.39%	-27.67%	103.71%	152.08%	-25.48%	3.73%	164.40%	248.17%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.23	0.23	0.24	0.24	0.25	0.25	0.00	0.28	0.27
Accounts Receivable Turnover	6.19	5.54	14.73	13.17	5.86	5.26	0.00	13.41	6.40
Inventory Turnover	7.51	6.44	6.95	8.17	10.55	7.75	0.00	11.46	19.49
Fixed Asset Turnover	0.33	0.33	0.33	0.34	0.35	0.37	0.00	0.39	0.38
Accounts Payable Turnover	5.94	5.08	7.18	7.33	6.81	4.75	0.00	6.46	6.03
Days Sales Outstanding (DSO)	59.00	65.91	24.77	27.71	62.33	69.45	0.00	27.22	57.05
Days Inventory Outstanding (DIO)	48.59	56.66	52.52	44.69	34.59	47.10	0.00	31.84	18.72
Days Payable Outstanding (DPO)	61.49	71.92	50.81	49.82	53.63	76.91	0.00	56.46	60.53
Cash Conversion Cycle (CCC)	46.10	50.66	26.48	22.58	43.29	39.64	0.00	2.59	15.25
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	3,678	3,239	3,068	2,947	2,951	2,907	2,738	2,664	2,713
Invested Capital Turnover	0.37	0.38	0.39	0.41	0.41	0.41	0.00	0.47	0.46
Increase / (Decrease) in Invested Capital	727	332	330	283	238	0.00	0.00	284	378
Enterprise Value (EV)	3,905	3,404	3,254	2,939	2,855	2,882	2,750	2,821	2,992
Market Capitalization	1,700	1,568	1,559	1,357	1,264	1,274	1,248	1,409	1,541
Book Value per Share	$36.19	$34.52	$35.09	$35.41	$35.57	$36.87	$35.03	$35.62	$35.85
Tangible Book Value per Share	$27.38	$29.94	$30.40	$31.12	$31.26	$32.18	$30.65	$31.24	$31.55
Total Capital	3,844	3,342	3,169	3,078	3,091	3,027	2,983	2,895	2,934
Total Debt	2,388	1,956	1,812	1,731	1,747	1,743	1,764	1,654	1,686
Total Long-Term Debt	2,270	1,755	1,632	1,651	1,652	1,503	1,502	1,373	1,373
Net Debt	2,206	1,835	1,695	1,582	1,591	1,607	1,503	1,412	1,452
Capital Expenditures (CapEx)	102	100	95	117	82	85	98	74	71
Debt-free, Cash-free Net Working Capital (DFCFNWC)	44	71	-13	2.25	93	112	22	31	104
Debt-free Net Working Capital (DFNWC)	144	110	22	67	165	145	179	169	245
Net Working Capital (NWC)	26	-91	-159	-12	69	-95	-83	-113	-68
Net Nonoperating Expense (NNE)	23	16	14	14	16	11	11	11	12
Net Nonoperating Obligations (NNO)	2,222	1,854	1,711	1,600	1,607	1,623	1,518	1,424	1,465
Total Depreciation and Amortization (D&A)	46	42	48	34	34	37	42	32	32
Debt-free, Cash-free Net Working Capital to Revenue	3.61%	6.17%	-1.14%	0.20%	7.92%	9.38%	0.00%	2.59%	9.09%
Debt-free Net Working Capital to Revenue	11.85%	9.51%	1.94%	5.90%	14.12%	12.13%	0.00%	14.14%	21.34%
Net Working Capital to Revenue	2.14%	-7.91%	-13.93%	-1.09%	5.94%	-7.97%	0.00%	-9.48%	-5.91%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.18	$1.12	($0.71)	($0.07)	$1.69	$1.20	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	40.24M	38.81M	38.39M	38.26M	37.77M	36.21M	0.00	0.00	0.00
Adjusted Diluted Earnings per Share	$2.18	$1.12	($0.71)	($0.07)	$1.69	$1.20	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	40.30M	38.87M	38.39M	38.26M	37.80M	36.27M	0.00	0.00	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	40.31M	40.24M	40.13M	38.67M	38.03M	37.68M	0.00	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	115	64	-13	13	84	59	-12	15	88
Normalized NOPAT Margin	23.32%	17.37%	-9.29%	5.96%	19.33%	16.57%	-8.19%	6.12%	19.00%
Pre Tax Income Margin	24.75%	17.03%	-27.92%	-1.67%	20.42%	16.58%	-22.48%	1.14%	20.85%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	72.07%	92.37%	90.44%	84.95%	79.70%	71.74%	0.00%	64.93%	63.75%
Augmented Payout Ratio	72.07%	92.37%	90.44%	84.95%	79.70%	71.74%	0.00%	64.93%	63.75%

Frequently Asked Questions About Northwest Natural's Financials

When does Northwest Natural's fiscal year end?

According to the most recent income statement we have on file, Northwest Natural's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Northwest Natural's net income changed over the last 10 years?

Northwest Natural's net income appears to be on an upward trend, with a most recent value of $78.87 million in 2024, rising from $58.69 million in 2014. The previous period was $93.87 million in 2023. View Northwest Natural's forecast to see where analysts expect Northwest Natural to go next.

What is Northwest Natural's operating income?

Northwest Natural's total operating income in 2024 was $191.14 million, based on the following breakdown:

Total Gross Profit: $445.95 million
Total Operating Expenses: $254.81 million

How has Northwest Natural revenue changed over the last 10 years?

Over the last 10 years, Northwest Natural's total revenue changed from $754.04 million in 2014 to $1.15 billion in 2024, a change of 52.9%.

How much debt does Northwest Natural have?

Northwest Natural's total liabilities were at $3.85 billion at the end of 2024, a 7.4% increase from 2023, and a 67.5% increase since 2014.

How much cash does Northwest Natural have?

In the past 10 years, Northwest Natural's cash and equivalents has ranged from $3.47 million in 2017 to $38.49 million in 2024, and is currently $38.49 million as of their latest financial filing in 2024.

How has Northwest Natural's book value per share changed over the last 10 years?

Over the last 10 years, Northwest Natural's book value per share changed from 28.20 in 2014 to 34.52 in 2024, a change of 22.4%.

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This page (NYSE:NWN) was last updated on 5/28/2025 by MarketBeat.com Staff

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Northwest Natural (NWN) Financials

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Northwest Natural (NWN) Financials

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