Northwest Natural (NWN) Financials

$43.64 +0.09 (+0.21%)

Closing price 05/6/2025 03:59 PM Eastern

Extended Trading

$43.58 -0.06 (-0.13%)

As of 05/6/2025 05:39 PM 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	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	59	54	59	-56	65	62	77	79	86	94	79
Consolidated Net Income / (Loss)	59	54	59	-56	65	62	77	79	86	94	79
Net Income / (Loss) Continuing Operations	59	54	62	72	67	65	70	79	86	94	79
Total Pre-Tax Income	100	89	105	113	92	78	91	106	116	126	110
Total Operating Income	143	124	151	151	132	143	148	163	167	185	191
Total Gross Profit	389	396	408	430	451	313	331	364	383	424	446
Total Revenue	754	724	668	755	706	746	774	860	1,037	1,197	1,153
Operating Revenue	754	724	668	755	706	746	774	860	1,037	1,197	1,153
Total Cost of Revenue	365	327	261	325	256	433	443	497	654	774	707
Operating Cost of Revenue	365	327	261	325	256	433	443	497	654	774	707
Total Operating Expenses	246	272	257	279	318	170	182	201	216	239	255
Selling, General & Admin Expense	-	-	0.00	0.00	160	3.25	3.70	3.90	3.62	5.53	5.85
Depreciation Expense	79	81	78	81	85	91	104	114	117	126	138
Other Operating Expenses / (Income)	166	188	166	183	62	63	65	73	83	95	97
Other Special Charges / (Income)	0.00	3.51	13	15	11	12	9.69	9.94	12	13	14
Total Other Income / (Expense), net	-43	-35	-45	-38	-41	-66	-57	-57	-52	-59	-81
Interest & Investment Income	-45	-43	-38	-38	-37	-43	-43	-44	-53	-77	-80
Other Income / (Expense), net	1.93	7.75	-7.15	-0.30	-3.60	-23	-14	-13	1.33	18	-1.14
Income Tax Expense	42	36	43	41	24	13	21	27	29	32	31
Basic Earnings per Share	$2.16	$1.96	$2.13	($1.94)	$2.24	$2.07	$2.51	$2.56	$2.54	$2.59	$2.03
Weighted Average Basic Shares Outstanding	27.16M	27.35M	27.65M	28.67M	28.80M	29.79M	30.54M	30.70M	33.93M	36.21M	38.81M
Diluted Earnings per Share	$2.16	$1.96	$2.12	($1.93)	$2.24	$2.07	$2.51	$2.56	$2.54	$2.59	$2.03
Weighted Average Diluted Shares Outstanding	27.22M	27.42M	27.78M	28.75M	28.87M	29.86M	30.60M	30.75M	33.98M	36.27M	38.87M
Weighted Average Basic & Diluted Shares Outstanding	27.20M	27.40M	27.70M	28.70M	28.80M	29.80M	30.61M	31.16M	-	37.68M	40.24M

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

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	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	0.06	-5.32	-0.69	-0.05	9.16	-2.27	23	108	14	8.66	73
Net Cash From Operating Activities	88	174	222	207	169	186	145	160	148	280	200
Net Cash From Continuing Operating Activities	216	185	217	9.52	169	185	143	160	148	280	200
Net Income / (Loss) Continuing Operations	59	54	59	-56	65	62	77	79	86	94	79
Consolidated Net Income / (Loss)	59	54	59	-56	65	62	77	79	86	94	79
Depreciation Expense	79	81	78	81	85	91	104	114	117	126	138
Amortization Expense	19	18	16	16	17	19	18	14	16	18	20
Non-Cash Adjustments To Reconcile Net Income	6.84	23	19	23	21	73	18	25	28	20	-40
Changes in Operating Assets and Liabilities, net	52	9.47	46	-55	-18	-60	-73	-71	-99	23	3.72
Net Cash From Investing Activities	-144	-115	-137	-214	-217	-304	-294	-300	-435	-335	-429
Net Cash From Continuing Investing Activities	-144	-115	-135	-214	-218	-302	-290	-300	-435	-335	-429
Purchase of Property, Plant & Equipment	-120	-118	-138	-213	-215	-223	-273	-294	-339	-327	-394
Acquisitions	-	-	-	0.00	-0.87	-57	-38	-16	-95	-8.53	-31
Other Investing Activities, net	-24	3.02	2.88	-0.58	-2.99	-22	-6.22	2.51	-1.58	0.38	-3.77
Net Cash From Financing Activities	-71	-75	-86	7.42	58	115	172	131	302	64	227
Net Cash From Continuing Financing Activities	-71	-75	-86	7.42	66	115	172	247	302	64	302
Repayment of Debt	-80	-65	-245	-42	-98	-99	-268	-115	-133	-264	-74
Payment of Dividends	-50	-49	-52	-54	-51	-53	-55	-56	-63	-67	-73
Issuance of Debt	50	35	150	101	213	175	495	285	290	330	285
Issuance of Common Equity	8.99	0.00	53	0.00	0.00	93	0.00	18	209	66	90
Other Financing Activities, net	-	3.88	8.40	4.82	1.55	0.00	0.00	116	-1.14	-1.31	74
Cash Interest Paid	43	40	36	35	35	41	43	44	51	80	71
Cash Income Taxes Paid	19	17	-7.16	15	27	-0.10	14	11	2.78	24	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 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	115	-0.91	16	-122	40	-8.22	-34	76
Net Cash From Operating Activities	177	121	3.65	-22	125	121	-26	-19
Net Cash From Continuing Operating Activities	177	121	3.65	-22	125	121	-26	-19
Net Income / (Loss) Continuing Operations	72	1.24	-24	45	64	-2.79	-27	45
Consolidated Net Income / (Loss)	72	1.24	-24	45	64	-2.79	-27	45
Depreciation Expense	31	31	30	33	33	34	35	36
Amortization Expense	0.83	0.85	12	4.16	0.55	0.54	13	5.62
Non-Cash Adjustments To Reconcile Net Income	9.09	3.40	-2.76	10	1.44	3.66	-1.00	-44
Changes in Operating Assets and Liabilities, net	64	84	-12	-113	26	86	-46	-62
Net Cash From Investing Activities	-73	-79	-99	-85	-82	-118	-126	-103
Net Cash From Continuing Investing Activities	-73	-79	-99	-85	-82	-118	-126	-103
Purchase of Property, Plant & Equipment	-71	-74	-98	-85	-82	-117	-95	-100
Acquisitions	-0.47	-3.78	0.00	-4.29	-1.00	-	-29	-1.00
Other Investing Activities, net	-1.29	-1.14	-1.10	3.91	0.73	-1.24	-1.70	-1.56
Net Cash From Financing Activities	11	-43	112	-15	-2.92	-11	118	123
Net Cash From Continuing Financing Activities	11	-43	112	-15	-2.92	-11	118	198
Repayment of Debt	-188	-32	-20	-24	-146	-16	81	7.54
Payment of Dividends	-17	-17	-17	-17	-18	-18	-18	-19
Issuance of Debt	200	-	130	-	150	-	-	135
Issuance of Common Equity	17	5.40	19	26	12	23	56	-0.19
Other Financing Activities, net	-1.30	-0.01	-	-	-1.31	-	-0.01	75
Cash Interest Paid	15	21	16	28	18	17	23	13
Cash Income Taxes Paid	1.30	11	6.80	5.30	1.00	9.25	5.58	3.56

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

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

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

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

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

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

Frequently Asked Questions About Northwest Natural's Financials

When does Northwest Natural's financial year end?

According to the most recent income statement we have on file, Northwest Natural's fiscal year ends in December. Their fiscal 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. Check out Northwest Natural's forecast to explore projected trends and price targets.

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 5/7/2025 by MarketBeat.com Staff

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Northwest Natural (NWN) Financials

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Northwest Natural (NWN) Financials

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