公司概述
Northwest Natural Holding Company operates as a regulated natural gas distributor serving residential, commercial, and industrial customers throughout the United States via its primary subsidiary, Northwest Natural Gas Company. The enterprise functions within the Utilities sector and specifically the Utilities - Regulated Gas industry, providing essential infrastructure services that are typically subject to government price regulation. This utility entity employs a workforce of 1,619 individuals and maintains a total market capitalization of $2.29 billion with reported trailing twelve-month revenue of $1.29 billion. The scale of these financial metrics, particularly the market cap and revenue, indicates that the company is a mid-sized player within the broader utility landscape, reflecting a substantial asset base and operational footprint without reaching the dimensions of the largest national utility conglomerates.
财务健康
The company generated $1.29 billion in revenue over the trailing twelve months, resulting in a net income of $113.32 million and an EBITDA of $473.46 million. The significant gap between the $1.29 billion revenue and the $113.32 million net income reveals a substantial cost structure comprising operating expenses, taxes, and interest obligations that consume approximately 91.2% of total revenue before reaching the bottom line. While the EBITDA stands at $473.46 million, the free cash flow is reported as -$162,616,880, indicating that capital expenditures currently exceed the cash generated from operations, which impacts immediate financial flexibility for dividends or share buybacks. The gross margin stands at 43.9%, suggesting moderate profitability on sales after direct costs; the operating margin of 25.4% demonstrates efficiency in controlling overhead expenses; and the profit margin of 8.8% reflects the final earnings quality after all expenses. On the balance sheet, total cash holdings of $39.27 million are significantly lower than the total debt of $2.68 billion, highlighted by a debt-to-equity ratio of 181.89, which characterizes the balance sheet as highly leveraged rather than conservative. The current ratio of 0.72 indicates that current assets are less than current liabilities, signaling potential short-term liquidity constraints where the company may rely on debt maturities or external financing to meet obligations. Return on equity is 7.9% and return on assets is 2.9%, metrics that reveal a moderate return generated on shareholder capital relative to the highly leveraged asset base, suggesting management effectiveness is constrained by the capital structure.
估值评估
The trailing twelve-month P/E ratio is 19.87, while the forward P/E ratio is 17.00, implying that the market expects earnings growth to accelerate in the future to justify the lower multiple. The price-to-book ratio of 1.55 indicates that the market values the company's equity at a 55% premium over its book value, reflecting expectations of regulated returns or asset quality. Alternative valuation metrics include a price-to-sales ratio of 1.77 and an EV/EBITDA of 10.42, suggesting that the stock is priced at roughly 1.7 times its sales and 10.4 times its earnings before interest, taxes, depreciation, and amortization. The 52-week high is $55.39 and the 52-week low is $38.94; without a specific current share price provided in the facts, the valuation range establishes a historical volatility band within which the stock has traded over the past year. The beta value of 0.49 indicates that the stock exhibits low price volatility relative to the broader market, moving less than half as much as the market index on average.
Growth & Income
Revenue growth year-over-year is 6.3%, while earnings growth year-over-year is 24.1%, demonstrating that earnings are growing significantly faster than revenue, which often implies improvements in margins, cost savings, or regulatory rate adjustments. As a dividend payer, the company offers a dividend yield of 3.6% with a payout ratio of 70.8%, indicating that the majority of net income is distributed to shareholders, which requires stable and growing earnings to remain sustainable given the high payout level. The high payout ratio combined with negative free cash flow presents a dynamic where cash dividends are funded largely by debt servicing or retained earnings reserves rather than direct operational cash flow. The overall growth and income profile presents a utility stock with moderate revenue expansion, strong earnings acceleration, and a high-yield dividend supported by a leveraged balance sheet and regulated operating environment.