Northwest Natural Holding Co (NWN) Financial Statements
Industry: Natural Gas Distribution
In fiscal 2025, Northwest Natural reported revenue of $1.29B, up 11.8% from $1.15B the year before. Net income was $113.3M (a 8.8% net margin), or $2.77 per diluted share. Operating margin was 21.8%. Operating activities generated $269.1M of cash, leaving -$197.8M of free cash flow. At fiscal year end, Northwest Natural held $6.17B in total assets against $4.69B in total liabilities, including $36.7M of cash and equivalents.
Open the full interactive Northwest Natural financials → Quarterly statements, key ratios, valuation history and price charts.
Northwest Natural Key Stats
| Share Price | $48.74 |
|---|---|
| Market Cap | $2.06B |
| P/E Ratio | 17.6 |
| Revenue YoY Growth | +11.8% |
| 52-Week Range | $42.10 – $54.74 |
| Shares Outstanding | 42.1 million (basic, 2026 Q2) |
Northwest Natural Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $773.7M | $860.4M | $1.04B | $1.20B | $1.15B | $1.29B |
| Operating Income | $148.4M | $163.1M | $167.5M | $184.9M | $191.1M | $280.9M |
| Pre-Tax Income | $91.4M | $106.1M | $115.4M | $126.2M | $109.9M | $154.7M |
| Income Tax | $21.1M | $27.4M | $29.1M | $32.4M | $31.1M | $41.4M |
| Net Income | $76.8M | $78.7M | $86.3M | $93.9M | $78.9M | $113.3M |
| Diluted EPS | $2.51 | $2.56 | $2.54 | $2.59 | $2.03 | $2.77 |
Northwest Natural Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $164.7M | $394.2M | $490.4M | $243.6M |
| Net Income | -$29.9M | $57.8M | $97.5M | $600,000 |
| Diluted EPS | -$0.73 | $1.41 | $2.33 | $0.01 |
Northwest Natural Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $30.2M | $18.6M | $29.3M | $32.9M | $38.5M | $36.7M |
| Current Assets | $323.2M | $437.3M | $744.2M | $601.4M | $557.8M | $602.9M |
| Total Assets | $3.76B | $4.06B | $4.75B | $4.87B | $5.23B | $6.17B |
| Current Liabilities | $627.1M | $724.8M | $898.7M | $696.9M | $649.0M | $836.4M |
| Total Long-Term Debt | $955.4M | $1.04B | $1.34B | $1.58B | $1.71B | $2.43B |
| Total Liabilities | $2.87B | $3.13B | $3.57B | $3.58B | $3.85B | $4.69B |
| Shareholders' Equity | $888.7M | $935.1M | $1.18B | $1.28B | $1.39B | $1.48B |
Northwest Natural Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $143.0M | $160.4M | $147.7M | $279.9M | $200.3M | $269.1M |
| Cash From Investing | -$294.3M | -$300.1M | -$435.5M | -$335.5M | -$429.0M | -$808.9M |
| Cash From Financing | $171.8M | $131.4M | $301.6M | $64.2M | $227.1M | $532.9M |
| Free Cash Flow | -$130.0M | -$133.5M | -$190.9M | -$47.4M | -$194.1M | -$197.8M |
Figures from Northwest Natural's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Northwest Natural financials page for every line item.
Northwest Natural Company Profile
| Ticker | NWN |
|---|---|
| Exchange | NYSE |
| Industry | Natural Gas Distribution |
| Headquarters | Portland, Oregon |
| Incorporated in | Oregon |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001733998 |
Frequently Asked Questions
What was Northwest Natural's revenue in fiscal 2025?
Northwest Natural (NWN) reported revenue of $1.29B for fiscal 2025.
What is Northwest Natural's annual revenue history?
Northwest Natural's annual revenue by fiscal year: 2020: $773.7M; 2021: $860.4M; 2022: $1.04B; 2023: $1.20B; 2024: $1.15B; 2025: $1.29B.
What was Northwest Natural's net income in fiscal 2025?
Northwest Natural reported net income of $113.3M for fiscal 2025.
What was Northwest Natural's earnings per share (EPS) in fiscal 2025?
Northwest Natural's diluted EPS was $2.77 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Northwest Natural generate in fiscal 2025?
Northwest Natural generated -$197.8M of free cash flow in fiscal 2025.
What was Northwest Natural's revenue last quarter?
In its most recent reported quarter (2026 Q2), Northwest Natural reported revenue of $243.6M.
How much debt does Northwest Natural have?
Northwest Natural reported $2.43B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Northwest Natural are outstanding?
Northwest Natural reported a weighted average of 42.1 million basic shares outstanding in 2026 Q2.
What is Northwest Natural's market cap?
Based on its latest closing price, Northwest Natural (NWN) has a market capitalization of about $2.06B.
When does Northwest Natural's fiscal year end?
Northwest Natural's fiscal year end, as registered with the SEC, is December 31.
Where is Northwest Natural headquartered?
Northwest Natural lists its business address in Portland, Oregon in its SEC filings.