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Northwest Natural NWN Natural gas cost under recovery

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Other financials

Income statement

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Revenue$243.6M+3.1%
Operating income$33.2M+21.9%
Net income$1.2M+135%
EPS (diluted)$0.01+117%

Balance sheet

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Cash & equivalents$29.8M-72.0%
Total debt$2.6B+10.9%
Total equity$1.6B+6.9%
Total assets$6.4B+11.3%

Cash flow

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Operating cash flow$109.7M+7.4%
CapEx$121.3M+0.7%
Free cash flow-$11.6M+36.8%

Valuation

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Market cap$2.12B+28.5%
Enterprise value$4.67B+20.7%
P/E12.7×+1.3×
P/S1.6×+0.3×

Profitability

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Operating margin22.8%+2.9pp
Net margin12.9%+1.3pp
FCF margin-20.6%+13.6pp

Returns & leverage

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Return on equity11.1%+0.8pp
Debt / equity1.7×+0.1×
Current ratio0.8×+0.1×

Where this comes from

Reported directly by Northwest Natural in its filing.

Tagged under the XBRL concept us-gaap:DeferredGasCost.

The source filing: Northwest Natural’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 1:41 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001733998-26-000127

NW Natural has invested $188 million through the gas reserves program in the Jonah Field located in Wyoming as of June 30, 2026. Gas reserves are stated at cost, net of regulatory amortization, with the associated deferred tax benefits of $1.1 million, $1.9 million, and $1.8 million, which are recorded as liabilities in the June 30, 2026, June 30, 2025, and December 31, 2025 consolidated balance sheets, respectively. NW Natural's investment is included in NW Holdings' and NW Natural's consolidated balance sheets under other current assets and other investments (non-current portion) with the maximum loss exposure limited to the investment balance. The amount of gas reserves included in other current assets was $2.6 million, $2.7 million, and $2.6 million as of June 30, 2026, June 30, 2025, and December 31, 2025, respectively. See Note 13 in the 2025 Form 10-K.

Item 1. Unaudited Financial Statements:

FAQ

What is Northwest Natural's natural gas cost under recovery?
Northwest Natural (NWN) reported natural gas cost under recovery of $2.6M in Q2 2026.
How has Northwest Natural's natural gas cost under recovery changed year-over-year?
Northwest Natural's natural gas cost under recovery decreased by 3.7% year-over-year, from $2.7M to $2.6M.
What is the long-term trend for Northwest Natural's natural gas cost under recovery?
Over 2 years (2020 to 2025), Northwest Natural's natural gas cost under recovery has grown at a -52.3% compound annual growth rate (CAGR), from $11.41M to $2.6M.
What does natural gas cost under recovery mean?
Natural gas cost under recovery as reported by Northwest Natural Holding Company.

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