Northwest Natural Holding Co

Utilities
Oil/Gas Transmission
www.nwnaturalholdings.com

Earnings Score
Moat Score
Safety Score

Market Cap $1.69B
PE 21
Debt $1.89B
Cash $47.98M
EV $3.53B
FCF -$194.12M

Earnings

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Sales & Net Margins

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Earnings	$78.87M
EBIT	$191.14M
ROE	6%
ROA	4%
FCF	-$194.12M
Equity	$1.39B
Growth Stability	91%
PE	21.45
PEG	4.03
PB	1.22
P/FCF	-8.71
P/S	1.47
Price/Cash	0.03
Debt/Equity	1.36
Debt/FCF	-9.74
Net Margins	7%
Op. Margins	17%
Earnings CAGR	6%
Sales Growth YoY	4%
Sales Growth QoQ	171%
Sales CAGR	7%
Equity CAGR	9%
Earnings Stability	0.26
Earnings Growth YoY	1%
Earnings Growth QoQ	-266%

Earnings CAGR 5Y	5%
Sales CAGR 5Y	12%
Equity CAGR 5Y	12%
Earnings CAGR 3Y	9%
Sales CAGR 3Y	9%
Equity CAGR 3Y	11%
Market Cap	$1.69B
Revenue	$1.15B
Dividend Yield	4%
Payout Ratio	96%
Assets	$5.23B
Total Debt	$1.89B
Cash	$47.98M
Shares Outstanding	38.81M
EV	3.53B
Earnings Score	11%
Moat Score	64%
Safety Score	65%
Final Score	47%
Working Capital	-91.24M
Current Ratio	0.86
Shares Growth 3y	8%
Equity Growth QoQ	2%
Equity Growth YoY	8%

Assets & ROA

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Stockholders Equity & ROE

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Northwest Natural Holding Co is a public natural gas service supplier operating in the U.S. Pacific Northwest. Its subsidiary, NW Natural, operates through the natural gas distribution segment, which purchases and distributes natural gas through approximately 786,000 meters in Oregon and southwest Washington. The company generates its revenue from residential, commercial, and industrial customers, the majority of which are in Oregon. Residential and commercial customers account for the vast majority of profitability.

SEC Filings

Direct access to Northwest Natural Holding Co (NWN) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Northwest Natural Holding Co compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Northwest Natural Holding Co compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 6%

Stability 26%

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Northwest Natural Holding Co Discounted Cash Flow

Fully customizable DCF calculator online for Northwest Natural Holding Co.

Years

Calculation mode

= -$1.9B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$194M	-$194M	-$194M	-$194M	-$194M	-$194M	-$194M	-$194M	-$194M	-$194M	-$194M	-$1.9B
DCF		-$176M	-$160M	-$146M	-$133M	-$121M	-$110M	-$100M	-$91M	-$82M	-$75M	-$748M
Value	-$1.9B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	9%	-7%	9%	8%	10%	9%	8%	8%	7%	7%
ROA	-	5%	4%	4%	4%	4%	4%	4%	4%	4%
ROE	-	-7%	8%	7%	9%	8%	7%	7%	6%	6%

Bad Net Margins (6.84%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	-133.42	-20.92	-27.14	-9.75	-10.8	-8.4	-36.65	-9.74	-9.74
Debt over Equity	-	1.19	1.26	1.2	1.43	1.54	1.36	1.35	1.36	1.36
Growth Stability	-	-	-	100%	100%	100%	100%	100%	91%	91%

Good Debt/FCF ratio (-9.74)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Neutral Debt/Equity ratio (1.36)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (91%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	13%	-6%	6%	4%	11%	21%	15%	-4%	12%
Earnings YoY growth	-	-194%	-216%	-4%	24%	2%	10%	9%	-16%	5%
Equity YoY growth	-	-13%	3%	14%	3%	5%	26%	9%	8%	12%
FCF YoY growth	-	-108%	593%	-17%	241%	3%	43%	-75%	310%	-