Northwest Natrl Financials
This page shows Northwest Natrl (NWN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Northwest Natrl has an operating margin of 21.8%, meaning the company retains $22 of operating profit per $100 of revenue. This strong profitability earns a score of 71/100, reflecting efficient cost management and pricing power. This is up from 16.6% the prior year.
Northwest Natrl's revenue grew 11.8% year-over-year to $1.3B, a solid pace of expansion. This earns a growth score of 53/100.
Northwest Natrl carries a low D/E ratio of 1.54, meaning only $1.54 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 71/100, indicating a strong balance sheet with room for future borrowing.
Northwest Natrl's current ratio of 0.72 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 9/100, which could limit financial flexibility.
While Northwest Natrl generated $269.1M in operating cash flow, capex of $466.9M consumed most of it, leaving -$197.8M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Northwest Natrl generates a 7.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 28/100. This is up from 5.7% the prior year.
Northwest Natrl scores 0.70, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Northwest Natrl passes 4 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Northwest Natrl generates $2.37 in operating cash flow ($269.1M OCF vs $113.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Northwest Natrl generated $1.3B in revenue in fiscal year 2025. This represents an increase of 11.8% from the prior year.
Northwest Natrl's EBITDA was $446.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 35.7% from the prior year.
Northwest Natrl reported $113.3M in net income in fiscal year 2025. This represents an increase of 43.7% from the prior year.
Northwest Natrl earned $2.77 per diluted share (EPS) in fiscal year 2025. This represents an increase of 36.5% from the prior year.
Cash & Balance Sheet
Northwest Natrl generated -$197.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 1.9% from the prior year.
Northwest Natrl held $36.7M in cash against $2.3B in long-term debt as of fiscal year 2025.
Northwest Natrl paid $1.96 per share in dividends in fiscal year 2025. This represents an increase of 0.5% from the prior year.
Northwest Natrl had 42M shares outstanding in fiscal year 2025. This represents an increase of 3.3% from the prior year.
Margins & Returns
Northwest Natrl's operating margin was 21.8% in fiscal year 2025, reflecting core business profitability. This is up 5.2 percentage points from the prior year.
Northwest Natrl's net profit margin was 8.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.0 percentage points from the prior year.
Northwest Natrl's ROE was 7.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.0 percentage points from the prior year.
Capital Allocation
Northwest Natrl invested $466.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 18.4% from the prior year.
NWN Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $394.2M+139.3% | $164.7M-30.3% | $236.2M-52.2% | $494.3M+33.3% | $370.9M+170.8% | $136.9M-35.3% | $211.7M-51.2% | $433.5M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | $111.7M+999.5% | -$12.4M-145.7% | $27.2M-82.4% | $154.4M+81.7% | $84.9M+539.4% | -$19.3M-223.1% | $15.7M-85.7% | $109.8M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $19.8M+264.6% | -$12.0M-1180.7% | -$940K-102.7% | $34.5M+93.5% | $17.8M+273.3% | -$10.3M-1167.9% | -$812K-103.3% | $24.3M |
| Net Income | $57.8M+293.4% | -$29.9M-1095.6% | -$2.5M-102.8% | $87.9M+95.4% | $45.0M+265.6% | -$27.2M-874.8% | -$2.8M-104.4% | $63.8M |
| EPS (Diluted) | N/A | $-0.73-1116.7% | $-0.06-102.8% | $2.18 | N/A | $-0.71-914.3% | $-0.07-104.1% | $1.69 |
NWN Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.2B+5.4% | $5.9B+1.2% | $5.8B+1.4% | $5.7B+9.0% | $5.2B+5.9% | $4.9B+2.5% | $4.8B-0.6% | $4.8B |
| Current Assets | $602.9M+38.4% | $435.6M-6.6% | $466.1M-13.7% | $539.9M-3.2% | $557.8M+36.4% | $408.9M-3.4% | $423.1M-21.3% | $537.7M |
| Cash & Equivalents | $36.7M+13.9% | $32.2M-68.6% | $102.6M+2.5% | $100.0M+159.9% | $38.5M+9.8% | $35.0M-46.2% | $65.2M-9.9% | $72.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $370.8M-0.1% | $371.0M0.0% | $370.9M+4.6% | $354.5M+92.9% | $183.8M+1.3% | $181.4M+11.2% | $163.2M+0.1% | $163.0M |
| Total Liabilities | $4.7B+6.2% | $4.4B+2.1% | $4.3B+1.8% | $4.3B+10.4% | $3.8B+7.3% | $3.6B+3.2% | $3.5B-0.9% | $3.5B |
| Current Liabilities | $836.4M+12.6% | $742.8M+8.6% | $683.9M+33.1% | $514.0M-20.8% | $649.0M+14.4% | $567.4M+30.3% | $435.5M-7.0% | $468.3M |
| Long-Term Debt | $2.3B+6.8% | $2.1B+2.0% | $2.1B-4.9% | $2.2B+30.6% | $1.7B+8.0% | $1.6B-1.3% | $1.6B0.0% | $1.6B |
| Total Equity | $1.5B+2.9% | $1.4B-1.7% | $1.5B+0.2% | $1.5B+5.1% | $1.4B+2.1% | $1.4B+0.8% | $1.3B+0.2% | $1.3B |
| Retained Earnings | $435.8M+9.4% | $398.6M-11.1% | $448.5M-4.7% | $470.8M+16.8% | $402.9M+6.7% | $377.7M-10.9% | $423.7M-4.8% | $445.1M |
NWN Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.3M+120.6% | -$15.9M-115.6% | $102.2M-43.1% | $179.6M+1025.1% | -$19.4M+26.4% | -$26.4M-121.8% | $121.0M-3.2% | $125.0M |
| Capital Expenditures | $134.2M+22.1% | $110.0M-8.7% | $120.5M+17.9% | $102.2M+2.0% | $100.1M+5.0% | $95.3M-18.3% | $116.7M+42.0% | $82.2M |
| Free Cash Flow | -$131.0M-4.0% | -$125.9M-587.3% | -$18.3M-123.7% | $77.4M+164.8% | -$119.6M+1.8% | -$121.7M-2914.1% | $4.3M-89.9% | $42.8M |
| Investing Cash Flow | -$141.4M-26.7% | -$111.6M+38.3% | -$180.9M+51.8% | -$375.0M-265.1% | -$102.7M+18.4% | -$125.9M-6.7% | -$118.0M-43.0% | -$82.5M |
| Financing Cash Flow | $143.4M+153.0% | $56.7M-27.7% | $78.4M-69.2% | $254.4M+106.3% | $123.3M+4.5% | $118.0M+1144.0% | -$11.3M-287.5% | -$2.9M |
| Dividends Paid | $19.7M+1.6% | $19.4M+1.7% | $19.1M-0.1% | $19.1M+0.2% | $19.1M+4.9% | $18.2M+1.8% | $17.9M+0.6% | $17.7M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NWN Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 28.3%+35.9pp | -7.5%-19.1pp | 11.5%-19.7pp | 31.2%+8.3pp | 22.9%+37.0pp | -14.1%-21.5pp | 7.4%-17.9pp | 25.3% |
| Net Margin | 14.7%+32.8pp | -18.1%-17.1pp | -1.1%-18.9pp | 17.8%+5.7pp | 12.1%+32.0pp | -19.8%-18.5pp | -1.3%-16.0pp | 14.7% |
| Return on Equity | 3.9%+6.0pp | -2.1%-1.9pp | -0.2%-6.2pp | 6.0%+2.8pp | 3.3%+5.3pp | -2.0%-1.8pp | -0.2%-5.0pp | 4.8% |
| Return on Assets | 0.9%+1.5pp | -0.5%-0.5pp | -0.0%-1.6pp | 1.5%+0.7pp | 0.9%+1.4pp | -0.5%-0.5pp | -0.1%-1.4pp | 1.3% |
| Current Ratio | 0.72+0.1 | 0.59-0.1 | 0.68-0.4 | 1.05+0.2 | 0.86+0.1 | 0.72-0.3 | 0.97-0.2 | 1.15 |
| Debt-to-Equity | 1.54+0.1 | 1.48+0.1 | 1.43-0.1 | 1.51+0.3 | 1.21+0.1 | 1.15-0.0 | 1.170.0 | 1.17 |
| FCF Margin | -33.2%+43.2pp | -76.4%-68.7pp | -7.8%-23.4pp | 15.7%+47.9pp | -32.2%+56.6pp | -88.9%-90.9pp | 2.0%-7.8pp | 9.9% |
Note: The current ratio is below 1.0 (0.72), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Northwest Natrl's annual revenue?
Northwest Natrl (NWN) reported $1.3B in total revenue for fiscal year 2025. This represents a 11.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Northwest Natrl's revenue growing?
Northwest Natrl (NWN) revenue grew by 11.8% year-over-year, from $1.2B to $1.3B in fiscal year 2025.
Is Northwest Natrl profitable?
Yes, Northwest Natrl (NWN) reported a net income of $113.3M in fiscal year 2025, with a net profit margin of 8.8%.
What is Northwest Natrl's EBITDA?
Northwest Natrl (NWN) had EBITDA of $446.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Northwest Natrl have?
As of fiscal year 2025, Northwest Natrl (NWN) had $36.7M in cash and equivalents against $2.3B in long-term debt.
What is Northwest Natrl's operating margin?
Northwest Natrl (NWN) had an operating margin of 21.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Northwest Natrl's net profit margin?
Northwest Natrl (NWN) had a net profit margin of 8.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Northwest Natrl pay dividends?
Yes, Northwest Natrl (NWN) paid $1.96 per share in dividends during fiscal year 2025.
What is Northwest Natrl's return on equity (ROE)?
Northwest Natrl (NWN) has a return on equity of 7.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Northwest Natrl's free cash flow?
Northwest Natrl (NWN) generated -$197.8M in free cash flow during fiscal year 2025. This represents a -1.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Northwest Natrl's operating cash flow?
Northwest Natrl (NWN) generated $269.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Northwest Natrl's total assets?
Northwest Natrl (NWN) had $6.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Northwest Natrl's capital expenditures?
Northwest Natrl (NWN) invested $466.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Northwest Natrl's current ratio?
Northwest Natrl (NWN) had a current ratio of 0.72 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Northwest Natrl's debt-to-equity ratio?
Northwest Natrl (NWN) had a debt-to-equity ratio of 1.54 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Northwest Natrl's return on assets (ROA)?
Northwest Natrl (NWN) had a return on assets of 1.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Northwest Natrl's Altman Z-Score?
Northwest Natrl (NWN) has an Altman Z-Score of 0.70, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Northwest Natrl's Piotroski F-Score?
Northwest Natrl (NWN) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Northwest Natrl's earnings high quality?
Northwest Natrl (NWN) has an earnings quality ratio of 2.37x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Northwest Natrl?
Northwest Natrl (NWN) scores 39 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.