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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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.3B | $467M | $113M | $-198M | 7.7% | 11.8% | 43.7% |
| 2024 | $1.2B | $348M | $79M | $-194M | 5.7% | -3.7% | -16.0% |
| 2023 | $1.2B | $346M | $94M | $-47M | 7.3% | 15.4% | 8.8% |
| 2022 | $1.0B | $301M | $86M | $-191M | 7.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,037.35 | 1,197.47 | 1,152.99 | 1,289.36 |
| Cost Of Revenue | - | 696.13 | 822.27 | 755.38 | 771.11 |
| Gross Profit | - | 341.22 | 375.20 | 397.61 | 518.26 |
| Operating Expense | - | 173.75 | 190.26 | 206.47 | 237.37 |
| Operating Income | - | 167.48 | 184.94 | 191.14 | 280.89 |
| EBITDA | - | 301.26 | 346.02 | 348.09 | 466.94 |
| EBIT | - | 168.68 | 202.80 | 190.03 | 277.19 |
| Pretax Income | - | 115.43 | 126.23 | 109.94 | 154.68 |
| Tax Provision | - | 29.13 | 32.36 | 31.07 | 41.36 |
| Net Income | - | 86.30 | 93.87 | 78.87 | 113.32 |
| Net Income Common Stockholders | - | 86.30 | 93.87 | 78.87 | 113.32 |
| Total Expenses | - | 869.88 | 1,012.53 | 961.85 | 1,008.47 |
| Interest Expense | - | 53.25 | 76.57 | 80.09 | 122.51 |
| Selling General And Administration | 9.94 | 12.39 | - | - | - |
| Normalized EBITDA | - | 301.26 | 346.02 | 348.09 | 466.94 |
| Normalized Income | - | 86.30 | 93.87 | 78.87 | 113.32 |
| Market Cap | 2,245.39 | 2,245.39 | 2,245.39 | 2,245.39 | 2,245.39 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Northwest Natural Holding Companythis co. | NWN | $2.2B | 19.81 | 1.52 | 7.7% | 10.48 |
| Clearway Energy, Inc. | CWEN-A | $4.7B | 28.29 | 2.49 | 8.8% | 12.91 |
| Clearway Energy, Inc. | CWEN | $4.7B | 28.32 | 2.49 | 8.8% | 12.91 |
| MDU Resources Group, Inc. | MDU | $4.5B | 23.43 | 1.61 | 6.9% | 13.53 |
| Avista Corporation | AVA |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $3.3B |
| 17.59 |
| 1.25 |
| 7.1% |
| 10.19 |
| Chesapeake Utilities Corporation | CPK | $3.0B | 21.82 | 1.92 | 8.8% | 12.56 |
| MGE Energy, Inc. | MGEE | $2.9B | 21.69 | 2.26 | 10.4% | 12.63 |
| California Water Service Group | CWT | $2.8B | 21.65 | 1.64 | 7.6% | 12.02 |
| Hawaiian Electric Industries, Inc. | HE | $2.7B | 20.86 | 1.64 | 7.9% | 8.82 |
| Peer Median | - | 21.75 | 1.78 | 8.3% | 12.60 | |