Northwest Natural Holding Past Earnings Performance
Past criteria checks 4/6
Northwest Natural Holding has been growing earnings at an average annual rate of 6.2%, while the Gas Utilities industry saw earnings growing at 5.1% annually. Revenues have been growing at an average rate of 9.2% per year. Northwest Natural Holding's return on equity is 7.8%, and it has net margins of 9.6%.
Key information
6.18%
Earnings growth rate
-0.81%
EPS growth rate
| Gas Utilities Industry Growth | 10.04% |
| Revenue growth rate | 9.22% |
| Return on equity | 7.79% |
| Net Margin | 9.56% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Recent updates
Narrative Update • May 09
NWN: Upgraded Views On 2026 EPS Guidance Will Drive Fair Value Reassessment
Analysts now see fair value for Northwest Natural Holding at $59.00, up from $58.25. This reflects updated views on slightly higher revenue growth, a modestly adjusted discount rate, a refined profit margin outlook, a higher future P/E assumption, and recent upward price target revisions across several research firms.Narrative Update • Apr 24
NWN: Refined Q4 Assumptions And 2026 Guidance Will Shape Fair Value View
Analysts have lifted their price target on Northwest Natural Holding by about $1.90 to $58.25, reflecting updated views on fair value, profit margins and future P/E expectations following recent research updates. Analyst Commentary Recent research updates on Northwest Natural Holding give you a mixed but useful read on how the Street is thinking about valuation, execution and growth expectations.Narrative Update • Apr 09
NWN: Refined Q4 Assumptions And Guidance Will Support Fair Value View
Analysts have lifted their price target on Northwest Natural Holding to $58 from $52, citing updated estimates following the company's recent Q4 earnings release. Analyst Commentary Bullish analysts see the higher US$58 price target as a reflection of updated Q4 assumptions rather than a dramatic shift in the story.Narrative Update • Mar 25
NWN: Q4 Earnings Update Will Support View Shares Stay Fairly Valued
Narrative Update on Northwest Natural Holding Analysts have raised their price target for Northwest Natural Holding to $58 from $52, citing updated estimates following the recent Q4 earnings release. Analyst Commentary Bullish analysts see the higher $58 price target as a reflection of updated expectations following the recent Q4 earnings release, with the new target implying more confidence in execution against current forecasts.Seeking Alpha • Mar 16
Northwest Natural Holding - Good Return, Looking At 2026
Summary Northwest Natural is a regulated gas and water utility now trading above fair value, with a Hold rating and a $42/share price target. NWN faces high CapEx plans ($3B by 2030), rising debt (debt/equity 1.76x), and regulatory risks, straining liquidity and dividend safety. Projected EPS growth (4.7%) and yield (3.75%) do not justify the current 17-19x P/E multiple, with annualized returns below 5% at fair value. Regulatory delays, high-risk operating states, and potential for further downgrades outweigh the company's quality and dividend coverage at current prices. Read the full article on Seeking AlphaNarrative Update • Mar 11
NWN: Q4 Earnings Revisions Will Support View Shares Remain Fairly Valued
Analysts have raised their price target on Northwest Natural Holding by $2 to $56. This reflects updated assumptions around fair value, revenue growth, profit margins, and future P/E following recent revisions to earnings-related estimates.Narrative Update • Feb 24
NWN: Stable Assumptions Will Support View Shares Remain Fairly Valued
Analysts have kept their price target for Northwest Natural Holding steady at about $54.33, reflecting largely unchanged assumptions around the discount rate, revenue growth, profit margin, and future P/E expectations. Valuation Changes Fair Value: Model fair value remains at about $54.33, with no change in the underlying output.Narrative Update • Feb 08
NWN: Updated Profitability Assumptions Will Support View That Shares Remain Undervalued
Analysts have slightly raised their price target for Northwest Natural Holding to about $54.33 from $52.75, pointing to updated fair value estimates and modest tweaks to assumptions on discount rate, revenue growth, profit margins, and future P/E. Valuation Changes Fair value estimate: raised slightly from $52.75 to about $54.33 per share.Narrative Update • Jan 25
NWN: Stable Earnings Outlook And Completed Buyback Will Support Undervalued Shares
Analysts have maintained their fair value estimate for Northwest Natural Holding at $52.75, reflecting broadly unchanged assumptions around discount rate, revenue growth, profit margin, and future P/E, and see this as consistent with their current outlook on the business. What's in the News Northwest Natural Holding reported that from July 1, 2025 to September 30, 2025 it repurchased 0 shares for $0 million, completing the buyback program announced on May 29, 2024.Analysis Article • Jan 19
Northwest Natural Holding (NYSE:NWN) Has Announced A Dividend Of $0.4925
Northwest Natural Holding Company's ( NYSE:NWN ) investors are due to receive a payment of $0.4925 per share on 13th of...Narrative Update • Jan 11
NWN: Stable Guidance And Completed Buyback Will Support Undervalued Share Price
Analysts have kept their price target for Northwest Natural Holding steady at about $52.75, reflecting only immaterial model tweaks to discount rate, revenue growth, profit margin and future P/E assumptions, rather than a change in their overall view of the stock. What's in the News Northwest Natural Holding reported that from July 1, 2025 to September 30, 2025, it repurchased 0 shares for $0 million, and that the buyback program announced on May 29, 2024 has been completed with a total of 0 shares repurchased for $0 million (Key Developments).Narrative Update • Dec 25
NWN: Dividend Hike Will Support Earnings Trajectory And Undervalued Share Price
Analysts have modestly reaffirmed their outlook on Northwest Natural Holding, keeping the price target steady at approximately 52.75 dollars. Unchanged fair value assumptions and virtually identical forecasts for discount rate, revenue growth, profit margins, and future earnings multiples suggest a consistent risk and return profile for the shares.Narrative Update • Dec 11
NWN: Dividend Increase Will Support Earnings Outlook And Undervalued Share Price
Analysts have modestly reaffirmed their view on Northwest Natural Holding, keeping the price target effectively unchanged at approximately $52.75. This reflects stable expectations for revenue growth, profit margins, and future valuation multiples.Narrative Update • Nov 27
NWN: Dividend Increase And Earnings Guidance Will Support Fair Value Outlook
Analysts have maintained their price target for Northwest Natural Holding at $52.75. This reflects a stable outlook amid consistent financial projections and no significant changes in key model assumptions.Narrative Update • Nov 13
NWN: Dividend Raise And Stable Earnings Guidance Will Support Balanced Outlook
Northwest Natural Holding's analyst price target increased modestly from $52.00 to $52.75. Analysts point to strong Q2 results, favorable regulatory developments, and ongoing growth initiatives as key factors supporting the adjustment.Analysis Article • Oct 18
Northwest Natural Holding (NYSE:NWN) Is Paying Out A Larger Dividend Than Last Year
Northwest Natural Holding Company's ( NYSE:NWN ) periodic dividend will be increasing on the 14th of November to...Analysis Article • Sep 27
Here's Why Northwest Natural Holding (NYSE:NWN) Has Caught The Eye Of Investors
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...Analysis Article • Jul 14
Northwest Natural Holding (NYSE:NWN) Has Announced A Dividend Of $0.49
The board of Northwest Natural Holding Company ( NYSE:NWN ) has announced that it will pay a dividend on the 15th of...Analysis Article • May 13
Some Confidence Is Lacking In Northwest Natural Holding Company's (NYSE:NWN) P/E
With a median price-to-earnings (or "P/E") ratio of close to 18x in the United States, you could be forgiven for...Seeking Alpha • Apr 14
Northwest Natural: Rock Solid Dividend At A Bargain Price
Summary Northwest Natural Holding is a utility company with a 165-year history, offering a 4.8% dividend yield and 25 consecutive years of dividend increases. NWN has shown strong revenue growth, effective cost management, and robust customer expansion, particularly in its fast-growing Texas market. Management projects a 22% rebound in adjusted EPS this year, supported by new rates, improved cost controls, and a strong regulatory backdrop. At a forward PE ratio of 14.2, well below its historical average, NWN offers both income and potential upside, making it a solid 'Buy'. Read the full article on Seeking AlphaAnalysis Article • Apr 14
Northwest Natural Holding (NYSE:NWN) Has Affirmed Its Dividend Of $0.49
The board of Northwest Natural Holding Company ( NYSE:NWN ) has announced that it will pay a dividend on the 15th of...Seeking Alpha • Jan 29
Northwest Natural: High-Yield Utility Stock For Volatile Times
Summary Northwest Natural Holding offers a near-5% dividend yield, 25 years of consecutive dividend raises, and a strong balance sheet with an A- credit rating. NWN's diversified business segments, including natural gas, water, and renewables, provide stable earnings and growth opportunities, with significant revenue from its natural gas utility. Trading at a forward PE below its historical average, NWN is poised for potential market-beating returns with management guiding for 4-6% annual EPS growth. Read the full article on Seeking AlphaAnalysis Article • Dec 07
Is There An Opportunity With Northwest Natural Holding Company's (NYSE:NWN) 20% Undervaluation?
Key Insights Northwest Natural Holding's estimated fair value is US$52.55 based on Dividend Discount Model Northwest...Analysis Article • Nov 19
Northwest Natural Holding's (NYSE:NWN) Problems Go Beyond Weak Profit
A lackluster earnings announcement from Northwest Natural Holding Company ( NYSE:NWN ) last week didn't sink the stock...Analysis Article • Nov 15
Analysts Are Updating Their Northwest Natural Holding Company (NYSE:NWN) Estimates After Its Third-Quarter Results
Northwest Natural Holding Company ( NYSE:NWN ) defied analyst predictions to release its quarterly results, which were...Seeking Alpha • Nov 10
Northwest Natural Holding: Speculative Buy For Income
Summary Northwest Natural Holding, a gas utility serving Oregon, is recommended as a "Speculative Buy for Income" despite political risks and flat earnings. The company has a strong service area, no leak-prone pipes, and a high dividend yield of 4.86%, making it attractive for income-focused investors. Regulatory environment in Oregon is average, but recent rate increase supports a stable outlook for NWN. NWN's stock trades at a discount, offering potential upside as interest rates and inflation decline, with a forward PE of 13.6x. Read the full article on Seeking AlphaAnalysis Article • Oct 28
Northwest Natural Holding (NYSE:NWN) Is Increasing Its Dividend To $0.49
The board of Northwest Natural Holding Company ( NYSE:NWN ) has announced that the dividend on 15th of November will be...Analysis Article • Oct 14
Northwest Natural Holding (NYSE:NWN) Is Increasing Its Dividend To $0.49
Northwest Natural Holding Company ( NYSE:NWN ) has announced that it will be increasing its periodic dividend on the...Seeking Alpha • Sep 16
Northwest Natural: Steady As She Flows, But Growth's A No-Show
Summary Northwest Natural Holding Company offers consistent dividends but lacks growth compared to the broader market, making it a solid choice for income-focused investors. Despite efforts in clean energy and water recycling, Northwest's financials, including revenue and earnings, are underwhelming, with a 68-year dividend streak being its main attraction. The company's valuation appears fair, but high debt levels and recent net losses raise concerns, warranting a "Hold" rating until growth improves. Oregon's strong economic health and NWN's strategic acquisitions in water recycling and clean energy present potential, but current financial struggles limit immediate growth prospects. Read the full article on Seeking Alpha
New Narrative • Sep 13
Oregon Utility's Decisive Investments In Clean Energy And Efficiency Promise Rising Revenues And Profits
Initiatives in renewable energy and decarbonization position the company for growth by tapping into clean energy demand, potentially improving margins.Analysis Article • Aug 07
Northwest Natural Holding Company (NYSE:NWN) Released Earnings Last Week And Analysts Lifted Their Price Target To US$45.00
Northwest Natural Holding Company ( NYSE:NWN ) shareholders are probably feeling a little disappointed, since its...Analysis Article • Jul 29
Northwest Natural Holding (NYSE:NWN) Is Paying Out A Dividend Of $0.4875
Northwest Natural Holding Company ( NYSE:NWN ) will pay a dividend of $0.4875 on the 15th of August. Based on this...Analysis Article • Jul 15
Northwest Natural Holding (NYSE:NWN) Has Announced A Dividend Of $0.4875
Northwest Natural Holding Company ( NYSE:NWN ) has announced that it will pay a dividend of $0.4875 per share on the...Analysis Article • Jul 12
Northwest Natural Holding (NYSE:NWN) Has More To Do To Multiply In Value Going Forward
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Analysis Article • Jun 10
Is Northwest Natural Holding (NYSE:NWN) A Risky Investment?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • May 24
The Price Is Right For Northwest Natural Holding Company (NYSE:NWN)
With a median price-to-earnings (or "P/E") ratio of close to 17x in the United States, you could be forgiven for...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Northwest Natural Holding makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 1,285 | 123 | 12 | 0 |
| 31 Dec 25 | 1,289 | 113 | 12 | 0 |
| 30 Sep 25 | 1,266 | 101 | 5 | 0 |
| 30 Jun 25 | 1,238 | 103 | 5 | 0 |
| 31 Mar 25 | 1,214 | 103 | 5 | 0 |
| 31 Dec 24 | 1,153 | 79 | 5 | 0 |
| 30 Sep 24 | 1,138 | 79 | -3 | 0 |
| 30 Jun 24 | 1,142 | 82 | -3 | 0 |
| 31 Mar 24 | 1,169 | 86 | -3 | 0 |
| 31 Dec 23 | 1,197 | 94 | -3 | 0 |
| 30 Sep 23 | 1,217 | 97 | 2 | 0 |
| 30 Jun 23 | 1,192 | 101 | 2 | 0 |
| 31 Mar 23 | 1,149 | 102 | 2 | 0 |
| 31 Dec 22 | 1,037 | 86 | 2 | 0 |
| 30 Sep 22 | 956 | 79 | 3 | 0 |
| 30 Jun 22 | 941 | 78 | 7 | 0 |
| 31 Mar 22 | 895 | 75 | 10 | 0 |
| 31 Dec 21 | 860 | 79 | 13 | 0 |
| 30 Sep 21 | 827 | 84 | 13 | 0 |
| 30 Jun 21 | 818 | 86 | 14 | 0 |
| 31 Mar 21 | 804 | 82 | 14 | 0 |
| 31 Dec 20 | 774 | 70 | 15 | 0 |
| 30 Sep 20 | 761 | 63 | 15 | 0 |
| 30 Jun 20 | 758 | 63 | 14 | 0 |
| 31 Mar 20 | 746 | 70 | 14 | 0 |
| 31 Dec 19 | 746 | 65 | 14 | 0 |
| 30 Sep 19 | 726 | 64 | 18 | 0 |
| 30 Jun 19 | 727 | 71 | 8 | 0 |
| 31 Mar 19 | 728 | 69 | 9 | 0 |
| 31 Dec 18 | 706 | 67 | 17 | 0 |
| 30 Sep 18 | 718 | 65 | 7 | 0 |
| 30 Jun 18 | 713 | 68 | 14 | 0 |
| 31 Mar 18 | 723 | 73 | 10 | 0 |
| 31 Dec 17 | 755 | 72 | 6 | 0 |
| 30 Sep 17 | 750 | 66 | 0 | 0 |
| 30 Jun 17 | 751 | 66 | 0 | 0 |
| 31 Mar 17 | 716 | 64 | 0 | 0 |
| 31 Dec 16 | 668 | 62 | 7 | 0 |
| 30 Sep 16 | 673 | 60 | 0 | 0 |
| 30 Jun 16 | 679 | 62 | 0 | 0 |
| 31 Mar 16 | 718 | 62 | 0 | 0 |
| 31 Dec 15 | 724 | 54 | 0 | 0 |
| 30 Sep 15 | 733 | 52 | 0 | 0 |
| 30 Jun 15 | 727 | 50 | 0 | 0 |
Quality Earnings: NWN has high quality earnings.
Growing Profit Margin: NWN's current net profit margins (9.6%) are higher than last year (8.5%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: NWN's earnings have grown by 6.2% per year over the past 5 years.
Accelerating Growth: NWN's earnings growth over the past year (19.4%) exceeds its 5-year average (6.2% per year).
Earnings vs Industry: NWN earnings growth over the past year (19.4%) did not outperform the Gas Utilities industry 19.4%.
Return on Equity
High ROE: NWN's Return on Equity (7.8%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/26 23:26 |
| End of Day Share Price | 2026/05/26 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Northwest Natural Holding Company is covered by 14 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Julien Dumoulin-Smith | BofA Global Research |
| Michael Gaugler | Brean Capital Historical (Janney Montgomery) |
| Alexis Kania | BTIG |