Northwest Natural (NWN)
Market Price (2/28/2026): $53.01 | Market Cap: $2.2 BilSector: Utilities | Industry: Gas Utilities
Northwest Natural (NWN)
Market Price (2/28/2026): $53.01Market Cap: $2.2 BilSector: UtilitiesIndustry: Gas Utilities
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.1%, Dividend Yield is 3.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.8% | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 114% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19% | Weak multi-year price returns3Y Excs Rtn is -46% | Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -15% |
| Low stock price volatilityVol 12M is 19% | Key risksNWN key risks include [1] challenges in recovering costs through regulatory rate cases, Show more. | |
| Megatrend and thematic driversMegatrends include Energy Transition & Decarbonization, and Hydrogen Economy. Themes include Renewable Fuel Production, and Hydrogen Infrastructure. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.1%, Dividend Yield is 3.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.8% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19% |
| Low stock price volatilityVol 12M is 19% |
| Megatrend and thematic driversMegatrends include Energy Transition & Decarbonization, and Hydrogen Economy. Themes include Renewable Fuel Production, and Hydrogen Infrastructure. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Weak multi-year price returns3Y Excs Rtn is -46% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 114% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -15% |
| Key risksNWN key risks include [1] challenges in recovering costs through regulatory rate cases, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Northwest Natural Holdings reported record adjusted earnings per share (EPS) of $2.93 for 2025, a 25.8% increase from $2.33 in 2024, which exceeded the top end of their guidance range.
The company also initiated strong 2026 EPS guidance of $2.95–$3.15, with a midpoint of $3.05, surpassing analyst consensus estimates.
2. The company demonstrated significant strategic growth through increased utility connections and major capital investments.
NWN added approximately 98,000 gas and water utility connections in 2025, representing an 11.1% growth rate, largely driven by the acquisition of SiEnergy, which contributed $0.33 to full-year adjusted EPS. Additionally, Northwest Natural invested a record $467 million in its utility systems during 2025 and announced the Mist Gas Storage Expansion project (MX3), involving approximately $300 million in capital expenditures.
Show more
Stock Movement Drivers
Fundamental Drivers
The 17.7% change in NWN stock from 10/31/2025 to 2/27/2026 was primarily driven by a 23.0% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 2272026 | Change |
|---|---|---|---|
| Stock Price ($) | 45.05 | 53.04 | 17.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,238 | 1,266 | 2.2% |
| Net Income Margin (%) | 8.3% | 7.9% | -4.8% |
| P/E Multiple | 17.7 | 21.7 | 23.0% |
| Shares Outstanding (Mil) | 40 | 41 | -1.7% |
| Cumulative Contribution | 17.7% |
Market Drivers
10/31/2025 to 2/27/2026| Return | Correlation | |
|---|---|---|
| NWN | 17.7% | |
| Market (SPY) | 0.6% | -16.9% |
| Sector (XLU) | 7.1% | 31.9% |
Fundamental Drivers
The 35.7% change in NWN stock from 7/31/2025 to 2/27/2026 was primarily driven by a 42.3% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 2272026 | Change |
|---|---|---|---|
| Stock Price ($) | 39.08 | 53.04 | 35.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,214 | 1,266 | 4.3% |
| Net Income Margin (%) | 8.5% | 7.9% | -6.4% |
| P/E Multiple | 15.3 | 21.7 | 42.3% |
| Shares Outstanding (Mil) | 40 | 41 | -2.3% |
| Cumulative Contribution | 35.7% |
Market Drivers
7/31/2025 to 2/27/2026| Return | Correlation | |
|---|---|---|
| NWN | 35.7% | |
| Market (SPY) | 8.8% | -8.1% |
| Sector (XLU) | 12.2% | 34.3% |
Fundamental Drivers
The 38.9% change in NWN stock from 1/31/2025 to 2/27/2026 was primarily driven by a 16.4% change in the company's P/E Multiple.| (LTM values as of) | 1312025 | 2272026 | Change |
|---|---|---|---|
| Stock Price ($) | 38.18 | 53.04 | 38.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,138 | 1,266 | 11.3% |
| Net Income Margin (%) | 6.9% | 7.9% | 15.1% |
| P/E Multiple | 18.7 | 21.7 | 16.4% |
| Shares Outstanding (Mil) | 38 | 41 | -6.8% |
| Cumulative Contribution | 38.9% |
Market Drivers
1/31/2025 to 2/27/2026| Return | Correlation | |
|---|---|---|
| NWN | 38.9% | |
| Market (SPY) | 15.0% | 5.8% |
| Sector (XLU) | 25.1% | 47.8% |
Fundamental Drivers
The 21.8% change in NWN stock from 1/31/2023 to 2/27/2026 was primarily driven by a 32.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312023 | 2272026 | Change |
|---|---|---|---|
| Stock Price ($) | 43.53 | 53.04 | 21.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 956 | 1,266 | 32.4% |
| Net Income Margin (%) | 8.3% | 7.9% | -3.8% |
| P/E Multiple | 19.3 | 21.7 | 12.7% |
| Shares Outstanding (Mil) | 35 | 41 | -15.2% |
| Cumulative Contribution | 21.8% |
Market Drivers
1/31/2023 to 2/27/2026| Return | Correlation | |
|---|---|---|
| NWN | 21.8% | |
| Market (SPY) | 75.0% | 18.9% |
| Sector (XLU) | 50.4% | 51.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NWN Return | 10% | 1% | -14% | 7% | 24% | 9% | 37% |
| Peers Return | 19% | -2% | -6% | 24% | 22% | 9% | 81% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 84% |
Monthly Win Rates [3] | |||||||
| NWN Win Rate | 50% | 42% | 33% | 50% | 75% | 100% | |
| Peers Win Rate | 52% | 48% | 50% | 57% | 65% | 80% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| NWN Max Drawdown | -8% | -10% | -21% | -9% | -3% | -2% | |
| Peers Max Drawdown | -8% | -12% | -19% | -7% | -3% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ATO, NI, UGI, SWX, OGS.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/27/2026 (YTD)
How Low Can It Go
| Event | NWN | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -36.6% | -25.4% |
| % Gain to Breakeven | 57.8% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -43.6% | -33.9% |
| % Gain to Breakeven | 77.1% | 51.3% |
| Time to Breakeven | Not Fully Recovered days | 148 days |
| 2018 Correction | ||
| % Loss | -24.9% | -19.8% |
| % Gain to Breakeven | 33.1% | 24.7% |
| Time to Breakeven | 199 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -28.8% | -56.8% |
| % Gain to Breakeven | 40.4% | 131.3% |
| Time to Breakeven | 2,575 days | 1,480 days |
Compare to ATO, NI, UGI, SWX, OGS
In The Past
Northwest Natural's stock fell -36.6% during the 2022 Inflation Shock from a high on 3/10/2022. A -36.6% loss requires a 57.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Northwest Natural (NWN)
AI Analysis | Feedback
Here is an analogy for Northwest Natural (NWN):
- AT&T for natural gas: Like AT&T provides essential communication services over its vast network, Northwest Natural delivers essential natural gas services to homes and businesses through its extensive pipeline infrastructure, operating as a regulated utility.
AI Analysis | Feedback
- Natural Gas Distribution: Providing natural gas to residential, commercial, and industrial customers across Oregon and Southwest Washington.
- Water and Wastewater Utility Services: Operating regulated water and wastewater utilities primarily in the Pacific Northwest.
AI Analysis | Feedback
Northwest Natural (symbol: NWN) is a natural gas utility company primarily serving customers in Oregon and Southwest Washington. As a regulated utility, it sells natural gas directly to a broad base of end-users within its service territory rather than having a few "major customers" that are other companies for resale.
The company primarily serves individuals and businesses, categorizing its customers into the following groups:
- Residential Customers: These are individual households that use natural gas for heating, water heating, cooking, and other household appliances in their homes.
- Commercial Customers: This category includes various businesses, schools, hospitals, government buildings, and other non-industrial enterprises that use natural gas for space heating, water heating, and various operational needs.
- Industrial Customers: This group comprises manufacturing plants, processing facilities, and other large industrial operations that utilize natural gas as a fuel source for their production processes or for large-scale heating.
AI Analysis | Feedback
- Williams Companies, Inc. (WMB)
- TC Energy Corporation (TRP)
AI Analysis | Feedback
Justin B. Palfreyman, President and Chief Executive Officer
Justin B. Palfreyman assumed the role of President and Chief Executive Officer of NW Natural Holdings and Chief Executive Officer of NW Natural, effective April 1, 2025. He joined NW Natural in 2016, serving in various executive roles including President of NW Natural Holdings and NW Natural from May 2023 to March 2025, and previously as Senior Vice President, Strategy and Business Development. Before joining NW Natural, he was a Director in Lazard's Power, Energy & Infrastructure Group from 2009 to 2016, where he provided strategic and financial advice to corporations, institutional investors, private equity funds, and government clients. Prior to Lazard, he worked as an associate in the Infrastructure Investment Banking Group at Goldman Sachs. Mr. Palfreyman also held positions in finance, strategy, and business development at Apex Learning and Accenture. He remains president of NW Natural Water, a position he has held since 2018.
Raymond J. Kaszuba III, Senior Vice President and Chief Financial Officer
Raymond J. Kaszuba III was appointed Senior Vice President and Chief Financial Officer of NW Natural Holdings, effective August 31, 2024. Prior to joining NW Natural, he served as Interim President and previously as Vice President and Chief Financial Officer at AmeriGas, a subsidiary of UGI Corporation, from October 2022 to November 2023. Mr. Kaszuba's experience also includes serving as Treasurer of UGI Corporation and holding Senior Vice President, Finance and Treasurer (2018-2020) and Vice President and Treasurer (2015-2018) roles at Enviva, a renewable bioenergy producer. His background also includes roles in treasury, finance, and audit at ExxonMobil, Allegheny Energy, and US Bank.
Kimberly A. Heiting, Senior Vice President, Operations, and Chief Marketing Officer
Kimberly A. Heiting serves as Senior Vice President, Operations, and Chief Marketing Officer at NW Natural. She began her career at NW Natural in 1998 and has served as Senior Vice President of Operations since 2018. Her previous roles at the company include Chief Marketing & Communications Officer and Vice President of Communications. She also has prior experience at Bank of America and ALLTEL Corp.
Brody J. Wilson, Vice President, Treasurer, Chief Accounting Officer and Controller
Brody J. Wilson is the Vice President, Treasurer, Chief Accounting Officer, and Controller at NW Natural. He has held this role since 2017. Previously, Mr. Wilson was a Senior Manager for PricewaterhouseCoopers LLP. His experience at NW Natural also includes serving as Chief Accounting Officer/Controller, Director of Accounting, and Interim CFO/Chief Accounting Officer/Interim Treasurer.
Melinda B. Rogers, Vice President, Chief Human Resources and Diversity Officer
Melinda B. Rogers is the Vice President, Chief Human Resources and Diversity Officer for NW Natural. She joined NW Natural in January 2018 as Senior Director of Human Resources and previously served as Senior Manager, Organizational Effectiveness and Talent Acquisition from October 2015 to January 2018. Prior to NW Natural, Ms. Rogers was a Senior Associate at Point B, a management consulting firm, and Director of the Executive Development Center at Willamette University. She brings over 30 years of diverse leadership experience, including 14 years in various human resources roles and a decade in management positions within sales, engineering, and supply chain at companies such as Knowledge Universe, Qualcomm, and Hewlett-Packard.
AI Analysis | Feedback
Key Business Risks for Northwest Natural (NWN)
Northwest Natural (NWN), a public natural gas and water services utility, faces several significant risks that could impact its financial performance and operational stability. The most prominent risks include regulatory and cost recovery challenges, the evolving energy transition coupled with reputational concerns, and inherent operational risks. The most significant risk stems from the company's **regulatory environment and its ability to recover costs** through rate cases. As a regulated utility, Northwest Natural's financial health is heavily dependent on favorable regulatory outcomes regarding rate adjustments, environmental compliance, and taxation policies. Higher borrowing and infrastructure costs, which continue to pressure results, must be recoverable through timely and adequate rate case decisions. The successful integration of recent acquisitions, such as SiEnergy, also introduces additional regulatory oversight. The potential for regulators not to fully approve the recovery of all spending and funding costs presents a direct threat to earnings resilience. Secondly, **energy transition and shifting public perception of natural gas** pose a substantial risk. Growing environmental concerns are influencing public opinion and could lead to advocacy group pressure and regulatory changes that impact the company's ability to grow its customer base and maintain favorable operating conditions. The broader movement towards decarbonization and the increasing competition from alternative energy sources could erode Northwest Natural's market position over the long term. Finally, **operational risks** are inherent in the nature of Northwest Natural's business. These risks include potential accidents, equipment failures, and natural disasters related to the transportation and storage of natural gas. Furthermore, the company's reliance on a single major pipeline for gas transportation presents a critical vulnerability; any disruption to this pipeline could severely impact its ability to meet customer demand and lead to significant financial losses and service disruptions.AI Analysis | Feedback
- Local government initiatives, including bans or restrictions on natural gas hookups in new construction, which are being adopted or actively considered by cities and counties in the Pacific Northwest.
- State-level decarbonization goals and ongoing regulatory proceedings that explore pathways to electrify heating and other services, potentially leading to policies incentivizing or mandating conversions from natural gas to electric appliances in both new and existing buildings.
- Significant federal and state incentives, such as those provided by the Inflation Reduction Act, promoting the widespread adoption of highly efficient electric heat pumps and other electric appliances, making them increasingly competitive and preferred alternatives to natural gas for heating and water heating.
AI Analysis | Feedback
Northwest Natural (NWN) Addressable Markets:
- Natural Gas Distribution:
- Oregon: $1.6 billion (2025)
- Texas: $29.0 billion (2025)
- Washington: $1.93 billion (2015)
- Water and Wastewater Utilities: $68.54 billion (U.S. market, 2025)
- Renewable Natural Gas (RNG): $6.01 billion (North America market, 2025)
AI Analysis | Feedback
Northwest Natural (NWN) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market dynamics:
-
Customer Growth, particularly through acquisitions in Texas: The company anticipates organic customer growth of 2.0% to 2.5% across its utilities. Furthermore, significant revenue growth is expected from recent acquisitions, most notably SiEnergy, a high-growth gas utility in Texas, which closed in January 2025. This acquisition, along with the agreement to purchase Hughes Gas Resources, Inc., has substantially increased Northwest Natural's customer base, with a combined utility customer growth rate of 10.9% for the 12 months ended September 30, 2025. SiEnergy alone has a backlog representing over 240,000 future meters.
-
Constructive Regulatory Outcomes and Rate Increases: Northwest Natural is actively pursuing and securing favorable regulatory adjustments. New gas utility rates in Oregon became effective on November 1, 2024, and further rate increases were approved by the Oregon Public Utility Commission on October 31, 2025, increasing the revenue requirement by $20.7 million. The company also filed a multi-year general rate case in Washington, seeking revenue increases over three years starting August 1, 2026. Additionally, new rates at water and wastewater utilities, particularly in Arizona, have contributed to increased earnings.
-
Strategic Investments in Infrastructure: Northwest Natural plans substantial capital expenditures to enhance its gas and water systems. Consolidated capital expenditures for 2025 are projected to be in the range of $450 million to $500 million, targeting projects such as modernizing end-of-life meters, system reinforcement, and gas storage upgrades. These investments, totaling over $330 million in the first nine months of 2025, are aimed at supporting customer growth, system reliability, and long-term infrastructure resilience.
-
Expansion of Water and Wastewater Utilities: The company's water segment has demonstrated strong growth, with its utility customer base expanding by 4.1% over the past year, including three small acquisitions. The water utility segment's EPS contribution nearly tripled from the first nine months of 2024 to 2025, and it is expected to contribute approximately $0.25 to $0.30 to annual adjusted EPS in 2025. The Texas water business is also showing early momentum with contracts for 3,200 future water and wastewater connections.
-
Growth from Renewable Natural Gas (RNG) and Decarbonization Initiatives: Northwest Natural is strategically focused on investments in clean energy and decarbonization. The renewables business is consistently delivering results and is identified as a strategic initiative for generating increasing earnings from RNG facilities in 2025. These initiatives are expected to tap into the growing demand for clean energy and potentially improve margins, positioning the company for future growth.
AI Analysis | Feedback
Share Repurchases
No significant share repurchase activities or authorized future repurchases by Northwest Natural have been explicitly reported within the last 3-5 years.
Share Issuance
- On April 1, 2022, Northwest Natural Holdings issued 2,875,000 shares of common stock, generating approximately $138.6 million in net proceeds.
- In August 2021, the company initiated an at-the-market (ATM) equity program to issue common stock with an aggregate gross sales price of up to $200 million, which expired in August 2024.
- Through the ATM program, the company issued $48 million in equity by September 2025.
Outbound Investments
- In 2025, Northwest Natural Holdings acquired SiEnergy and Pines gas utilities, significantly driving customer growth by adding over 95,000 gas and water utility connections.
- In 2022, the company invested $94.3 million in water and wastewater acquisitions, including the Far West utilities in Yuma, Arizona, adding 25,000 customers.
- Northwest Natural also made various water and wastewater utility acquisitions in 2020 ($38.3 million), 2021 ($14.5 million for a minority position in a water utility), 2023 (four water utility acquisitions), and 2024 ($29.8 million, including an agreement to acquire Puttman and ICH water utilities).
Capital Expenditures
- Northwest Natural's capital expenditures were $327.3 million in 2023, $394.4 million in 2024, and are expected to be between $450 million and $500 million in 2025.
- The primary focus of these expenditures includes investments in natural gas and water utility systems to support growth, safety, reliability, and technology upgrades.
- For 2025, capital expenditure focus areas include modernizing end-of-life meters, system reinforcement, and gas storage upgrades. Expected capital expenditures for NW Natural Holdings from 2025 to 2030 are projected to range from $2.5 billion to $2.7 billion.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to NWN.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 12122025 | CTRI | Centuri | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 15.4% | 15.4% | -5.5% |
| 11212025 | PEG | Public Service Enterprise | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 6.6% | 6.6% | -4.0% |
| 09262025 | PCG | PG&E | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 25.2% | 25.2% | -0.8% |
| 09052025 | AES | AES | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 29.7% | 29.7% | -3.2% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 70.24 |
| Mkt Cap | 7.2 |
| Rev LTM | 5,397 |
| Op Inc LTM | 797 |
| FCF LTM | -191 |
| FCF 3Y Avg | -101 |
| CFO LTM | 902 |
| CFO 3Y Avg | 1,044 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 16.5% |
| Rev Chg 3Y Avg | 3.6% |
| Rev Chg Q | 11.7% |
| QoQ Delta Rev Chg LTM | 2.4% |
| Op Mgn LTM | 19.5% |
| Op Mgn 3Y Avg | 17.6% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 21.7% |
| CFO/Rev 3Y Avg | 23.5% |
| FCF/Rev LTM | -8.6% |
| FCF/Rev 3Y Avg | -7.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 7.2 |
| P/S | 1.9 |
| P/EBIT | 10.9 |
| P/E | 20.8 |
| P/CFO | 9.3 |
| Total Yield | 7.3% |
| Dividend Yield | 2.6% |
| FCF Yield 3Y Avg | -2.1% |
| D/E | 0.7 |
| Net D/E | 0.7 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 10.7% |
| 3M Rtn | 6.7% |
| 6M Rtn | 13.6% |
| 12M Rtn | 22.8% |
| 3Y Rtn | 41.0% |
| 1M Excs Rtn | 12.1% |
| 3M Excs Rtn | 6.6% |
| 6M Excs Rtn | 7.9% |
| 12M Excs Rtn | 5.8% |
| 3Y Excs Rtn | -32.5% |
Price Behavior
| Market Price | $53.04 | |
| Market Cap ($ Bil) | 2.2 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $47.47 | $43.42 |
| DMA Trend | up | up |
| Distance from DMA | 11.7% | 22.2% |
| 3M | 1YR | |
| Volatility | 20.1% | 19.3% |
| Downside Capture | -87.54 | -16.26 |
| Upside Capture | -33.17 | 16.39 |
| Correlation (SPY) | -22.1% | 6.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.13 | -0.11 | -0.02 | 0.03 | 0.09 | 0.30 |
| Up Beta | 0.28 | 1.15 | 0.66 | 0.92 | 0.08 | 0.33 |
| Down Beta | 0.16 | -0.21 | -0.41 | -0.48 | 0.06 | 0.27 |
| Up Capture | 13% | -47% | 8% | 21% | 15% | 8% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 10 | 20 | 35 | 75 | 145 | 398 |
| Down Capture | 0% | -12% | -12% | -35% | 6% | 55% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 8 | 18 | 23 | 47 | 102 | 347 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NWN | |
|---|---|---|---|---|
| NWN | 33.0% | 19.4% | 1.35 | - |
| Sector ETF (XLU) | 22.2% | 16.0% | 1.07 | 47.9% |
| Equity (SPY) | 16.5% | 19.4% | 0.66 | 5.6% |
| Gold (GLD) | 81.3% | 25.7% | 2.29 | 13.5% |
| Commodities (DBC) | 13.4% | 16.9% | 0.58 | -6.7% |
| Real Estate (VNQ) | 7.3% | 16.6% | 0.25 | 42.8% |
| Bitcoin (BTCUSD) | -20.2% | 44.9% | -0.37 | -3.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NWN | |
|---|---|---|---|---|
| NWN | 6.7% | 23.2% | 0.25 | - |
| Sector ETF (XLU) | 12.9% | 17.2% | 0.59 | 56.0% |
| Equity (SPY) | 13.6% | 17.0% | 0.63 | 25.3% |
| Gold (GLD) | 23.5% | 17.1% | 1.12 | 14.2% |
| Commodities (DBC) | 10.6% | 19.0% | 0.44 | 7.1% |
| Real Estate (VNQ) | 5.1% | 18.8% | 0.18 | 47.5% |
| Bitcoin (BTCUSD) | 4.5% | 57.0% | 0.30 | 11.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NWN | |
|---|---|---|---|---|
| NWN | 4.0% | 28.1% | 0.18 | - |
| Sector ETF (XLU) | 10.9% | 19.2% | 0.50 | 68.3% |
| Equity (SPY) | 15.4% | 17.9% | 0.74 | 40.6% |
| Gold (GLD) | 15.3% | 15.6% | 0.82 | 9.2% |
| Commodities (DBC) | 8.7% | 17.6% | 0.41 | 10.9% |
| Real Estate (VNQ) | 6.6% | 20.7% | 0.28 | 56.9% |
| Bitcoin (BTCUSD) | 66.2% | 66.8% | 1.06 | 10.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/5/2025 | 1.2% | 4.5% | 0.3% |
| 8/5/2025 | 0.6% | 3.4% | 5.2% |
| 2/28/2025 | 3.6% | 2.6% | 4.5% |
| 11/12/2024 | 0.5% | 0.4% | 1.0% |
| 8/2/2024 | -2.1% | -1.7% | 1.8% |
| 5/6/2024 | -2.0% | 0.0% | -3.3% |
| 2/23/2024 | 2.1% | 3.0% | 1.4% |
| 11/3/2023 | -4.0% | -8.0% | -4.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 12 | 10 |
| # Negative | 9 | 7 | 9 |
| Median Positive | 1.0% | 4.0% | 4.9% |
| Median Negative | -2.1% | -2.7% | -4.1% |
| Max Positive | 4.6% | 12.6% | 12.3% |
| Max Negative | -4.0% | -8.0% | -12.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Saathoff, Mardilyn | Gen'l Counsel, CCO & SVP, Reg | Direct | Sell | 12232025 | 46.90 | 1 | 53 | 1,334,680 | Form |
| 2 | Anderson, David Hugo | Direct | Sell | 11182025 | 47.95 | 7,468 | 358,083 | 1,771,907 | Form | |
| 3 | Anderson, David Hugo | Direct | Sell | 10222025 | 46.39 | 7,500 | 347,951 | 2,060,892 | Form | |
| 4 | Anderson, David Hugo | Direct | Sell | 10162025 | 45.00 | 10,509 | 472,912 | 2,336,526 | Form | |
| 5 | Anderson, David Hugo | Direct | Sell | 10142025 | 45.00 | 4,930 | 221,850 | 2,809,395 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.