NWNNorthwest Natural Holding Co
Natural Gas Distribution
- Revenue
- $1.2B
- 8.4% YoY
- Operating margin
- 23.2%
- 36% YoY
- EBITDA
- $446M
- 36% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 5.6×
- $2.5B net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear237% of net incomeCash flow under 80% of net income
- Dilutive SBCClear—Over 10% of revenue
- Payouts exceed cash flowClear29% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear6% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $828M | $1.0B | $1.2B | $1.1B | $1.2B | 8.4% |
| Operating income | $163M | $167M | $185M | $191M | $281M | 47% |
| Net income | $79M | $86M | $94M | $79M | $113M | 44% |
| Operating cash flow | $160M | $148M | $280M | $200M | $269M | 34% |
| Capex | $294M | $339M | $327M | $394M | $467M | 18% |
| Dividends | $56M | $63M | $67M | $73M | $77M | 6.1% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $145K · 4
- Net
- −$145K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 127 | 143 |
| FY2024 | — | — | 102 | 123 |
| FY2023 | — | — | 96 | 111 |
| FY2022 | — | — | 112 | 118 |
| FY2021 | — | — | 110 | 117 |