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Northwest Natural NWN Alternative revenue — Operating revenues

Other product segments

Natural gas sales
$181.31M+1.2%
Water and wastewater revenue
$17.08M+4.8%
Renewable natural gas sales
$7.59M+10.2%
Gas storage revenue, net
$4.84M+18.5%
Asset management revenue, net
$1.05M-32.4%
Other revenue
$873K-9.2%
Gas appliance retail revenue
$825K

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OPLNFee and other revenue — Operating revenues
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OPLNSaaS and Other Revenue — Operating revenues
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ATOTransportation revenues — Operating revenues
$37.46M+13.0%

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$2.14B+31.4%
Enterprise value$4.68B+21.9%
P/E12.8×+1.5×
P/S1.7×+0.3×

Profitability

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

Returns & leverage

See full
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:Revenues.

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
In thousandsThree Months Ended June 30, / NW NaturalThree Months Ended June 30, / Si EnergyThree Months Ended June 30, / NWN Water UtilityThree Months Ended June 30, / OtherThree Months Ended June 30, / NW Holdings
Renewable natural gas sales7,5947,594
Other revenue873873
Revenue from contracts with customers175,06913,29217,0778,127213,565
Alternative revenue25,28325425,537
Leasing revenue4,4504,450
Total operating revenues$204,802$13,546$17,077$8,127$243,552
2025
Natural gas sales$166,923$11,502$701$179,126

Item 1. Unaudited Financial Statements:

FAQ

What is Northwest Natural's alternative revenue — operating revenues?
Northwest Natural (NWN) reported alternative revenue — operating revenues of $25.54M in Q2 2026.
How has Northwest Natural's alternative revenue — operating revenues changed year-over-year?
Northwest Natural's alternative revenue — operating revenues increased by 15.5% year-over-year, from $22.1M to $25.54M.
What is the long-term trend for Northwest Natural's alternative revenue — operating revenues?
Over 4 years (2021 to 2025), Northwest Natural's alternative revenue — operating revenues has grown at a 43.6% compound annual growth rate (CAGR), from $14.69M to $62.5M.
What does alternative revenue — operating revenues mean?
This metric represents the operating revenues generated from non-traditional utility business activities, often including regulatory mechanisms like decoupling or other alternative rate structures. It captures income streams that fall outside of standard volumetric natural gas sales, reflecting the company's ability to diversify earnings through regulatory frameworks. Monitoring this segment helps investors understand the impact of non-core revenue drivers on overall financial performance and stability.

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