NWN Stock Analysis: Northwest Natural Gas | NYSE

Utilities - Regulated Gas | NYSE, USA | Market Cap: 2.051m USD | 12M Return: 26.3% | Charts, Fundamentals & Technical Analysis

Natural Gas Distribution, Gas Storage, Water Services, Renewable Gas

Total Rating 40

Safety 55

Buy Signal -0.58

Utilities - Regulated Gas
Industry Rotation: +5.8

Market Cap: 2.05B
Avg Turnover: 14.2M

Risk 3d forecast

Volatility21.3%

VaR 5^th Pctl3.76%

VaR vs Median7.05%

Reward TTM

Sharpe Ratio1.06

Rel. Str. IBD43.3

Rel. Str. Peer Group56.7

Character TTM

Beta-0.054

Beta Downside0.031

Hurst Exponent0.362

Drawdowns 3y

Max DD18.39%

CAGR/Max DD0.55

CAGR/Mean DD1.38

EPS (Earnings per Share)

EPS CAGR: 5.34%
EPS Trend: 37.0%

Last SUE: -0.63
Qual. Beats: 0

Revenue

Rev. CAGR: 3.16%
Rev. Trend: 63.8%

Last SUE: -1.84
Qual. Beats: -2

Warnings

High Debt While Negative Cash Flow

Altman Z'' In Financial Distress Zone

Below Avwap Earnings

Tailwinds

No distinct edge detected

Seasonality 10.5 years of data

Jan -0.9% 15

Feb +0.8% 16

Mar +0.3% 16

Apr +0.8% 36

May -1.6% 28

Jun -1.2% 15

Jul +0.9% 38

Aug -1.6% 21

Sep -2.3% 21

Oct -0.5% 8

Nov +1.9% 33

Dec -3.8% 21

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: NWN Northwest Natural Gas

Northwest Natural Holding Company (NYSE: NWN) is a Portland, Oregon-based utility holding company founded in 1859, operating through its subsidiary Northwest Natural Gas Company. It provides regulated natural gas distribution services to residential, commercial, and industrial customers in the United States, primarily in Oregon and southwest Washington, and reported as a mid-cap stock within the GICS Gas Utilities sub-industry.

The company runs three reportable segments: NWN Gas Utility, SiEnergy, and NWN Water. Beyond regulated distribution, it operates the Mist gas storage facility (contracted to utilities, third-party marketers, and electric generators), offers natural gas asset management and interstate storage services, runs an appliance retail center, and provides water and wastewater connections along with operation, maintenance, and management services to water and wastewater system owners. It also holds non-regulated businesses in renewable natural gas and other investments.

As a regulated gas utility, Northwest Naturals core distribution operations are typically subject to state-level rate regulation, which generally provides stable, predictable cash flows tied to authorized rate bases and allowed returns. The inclusion of a renewable natural gas line reflects a broader industry trend of gas utilities seeking lower-carbon and RNG supply sources to meet state-level clean energy goals.

Headlines to Watch Out For

OPUC rate case outcome lifts gas utility margins
SiEnergy Texas acquisition accelerates customer base growth
Cold winter weather boosts residential gas delivery volumes

Piotroski VR-10 (Strict) 4.0

Net Income: 122.9m TTM > 0 and > 6% of Revenue
FCF/TA: -0.04 > 0.02 and ΔFCF/TA -1.45 > 1.0
NWC/Revenue: -11.39% < 20% (prev 2.14%; Δ -13.53% < -1%)
CFO/TA 0.03 > 3% & CFO 205.6m > Net Income 122.9m
Net Debt (2.72b) to EBITDA (484.1m): 5.63 < 3
Current Ratio: 0.80 > 1.5 & < 3
Outstanding Shares: last quarter (41.0m) vs 12m ago 1.61% < -2%
Gross Margin: 42.26% > 18% (prev 37.07%; Δ 5.19% > 0.5%)
Asset Turnover: 21.20% > 50% (prev 21.27%; Δ -0.07% > 0%)
Interest Coverage Ratio: 2.41 > 6 (EBIT TTM 277.7m / Interest Expense TTM 115.5m)

Altman Z'' 0.76

A: -0.02 (Total Current Assets 584.1m - Total Current Liabilities 730.5m) / Total Assets 6.42b
B: 0.08 (Retained Earnings 512.2m / Total Assets 6.42b)
C: 0.05 (EBIT TTM 277.7m / Avg Total Assets 6.06b)
D: 0.33 (Book Value of Equity 1.58b / Total Liabilities 4.84b)
Altman-Z'' = 0.76 = B

Beneish M -3.02

DSRI: 0.93 (Receivables 207.3m/210.3m, Revenue 1.29b/1.21b)
GMI: 0.88 (GM 37.07% / 42.26%)
AQI: 1.23 (AQ_t 0.21 / AQ_t-1 0.17)
SGI: 1.06 (Revenue 1.29b / 1.21b)
TATA: -0.01 (NI 122.9m - CFO 205.6m) / TA 6.42b)
Beneish M = -3.02 (Cap -4..+1) = AA

What is the price of NWN shares?

As of July 09, 2026, the stock is trading at USD 49.66 with a total of 277,436 shares traded. Over the past week, the price has changed by +1.22%, over one month by +1.49%, over three months by -8.96% and over the past year by +26.32%.

Current recommended Stop Loss: 46.90 (which is 5.6% or 2.2 ATR below the current price).

Is NWN a buy, sell or hold?

Northwest Natural Gas has received a consensus analysts rating of 4.20. Therefore, it is recommended to buy NWN.

StrongBuy: 3
Buy: 0
Hold: 2
Sell: 0
StrongSell: 0

What are the forecasts/targets for the NWN price?

Analysts Target Price	57.5	15.8%

Northwest Natural Gas (NWN) - Fundamental Data Overview as of 03 July 2026

Market Cap USD = 2.05b (2.05b USD * 1.0 USD.USD)
P/E Trailing = 16.6884
P/E Forward = 16.0256
P/S = 1.5952
P/B = 1.3092
P/EG = 2.4666
Revenue TTM = 1.29b USD
EBIT TTM = 277.7m USD
EBITDA TTM = 484.1m USD
Long Term Debt = 2.27b USD (from longTermDebt, last quarter)
Short Term Debt = 335.2m USD (from shortTermDebt, last quarter)
Debt = 2.76b USD (from shortLongTermDebtTotal, last quarter) + Leases 78.2m
Net Debt = 2.72b USD (calculated: Debt 2.76b - CCE 37.7m)
Enterprise Value = 4.77b USD (2.05b + Debt 2.76b - CCE 37.7m)
Interest Coverage Ratio = 2.41 (Ebit TTM 277.7m / Interest Expense TTM 115.5m)
EV/FCF = -17.50x (Enterprise Value 4.77b / FCF TTM -272.7m)
FCF Yield = -5.71% (FCF TTM -272.7m / Enterprise Value 4.77b)
FCF Margin = -21.22% (FCF TTM -272.7m / Revenue TTM 1.29b)
Net Margin = 9.56% (Net Income TTM 122.9m / Revenue TTM 1.29b)
Gross Margin = 42.26% ((Revenue TTM 1.29b - Cost of Revenue TTM 742.3m) / Revenue TTM)
Gross Margin QoQ = 52.04% (prev 49.95%)
Tobins Q-Ratio = 0.74 (Enterprise Value 4.77b / Total Assets 6.42b)
Interest Expense / Debt = 4.18% (Interest Expense 115.5m / Debt 2.76b)
Taxrate = 24.26% (39.4m / 162.3m)
NOPAT = 210.3m (EBIT 277.7m * (1 - 24.26%))
Current Ratio = 0.80 (Total Current Assets 584.1m / Total Current Liabilities 730.5m)
Debt / Equity = 1.75 (Debt 2.76b / totalStockholderEquity, last quarter 1.58b)
Debt / EBITDA = 5.63 (Net Debt 2.72b / EBITDA 484.1m)
Debt / FCF = -9.98 (negative FCF - burning cash) (Net Debt 2.72b / FCF TTM -272.7m)
Total Stockholder Equity = 1.49b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.03% (Net Income 122.9m / Total Assets 6.42b)
RoE = 8.27% (Net Income TTM 122.9m / Total Stockholder Equity 1.49b)
RoCE = 7.39% (EBIT 277.7m / Capital Employed (Equity 1.49b + L.T.Debt 2.27b))
RoIC = 3.51% (NOPAT 210.3m / Invested Capital 5.99b)
WACC = 4.29% (E(2.05b)/V(4.81b) * Re(5.79%) + D(2.76b)/V(4.81b) * Rd(4.18%) * (1-Tc(0.24)))
Discount Rate = 5.79% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 89.89 | Cagr: 3.83%
[DCF] Fair Price = unknown (Cash Flow -272.7m)
EPS Correlation: 37.03 | EPS CAGR: 5.34% | SUE: -0.63 | # QB: 0
Revenue Correlation: 63.76 | Revenue CAGR: 3.16% | SUE: -1.84 | # QB: -2
EPS current Quarter (2026-06-30): EPS=-0.06 | Chg30d=+11.53% | Revisions=-25% | Analysts=5
EPS next Quarter (2026-09-30): EPS=-0.85 | Chg30d=+7.37% | Revisions=-25% | Analysts=5
EPS current Year (2026-12-31): EPS=3.06 | Chg30d=+0.00% | Revisions=+0% | GrowthEPS=+4.3% | GrowthRev=+9.3%
EPS next Year (2027-12-31): EPS=3.23 | Chg30d=+0.00% | Revisions=-25% | GrowthEPS=+5.6% | GrowthRev=+4.0%
[Analyst] Revisions Ratio: -50% (up=0, down=3)