Northwest Natural Holding Compa — Earnings Quality Grade F
NWN · Utilities
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 35 days, change -5 days YoY
AR growth -2.1% vs revenue growth 11.8%
Revenue 11.8%, CFFO 34.4%. Cash follows revenue
Expense Quality
Inventory growth 19.4% far exceeds COGS 2.1%, margin rising. Fraud signal
CapEx growth 18.4% vs revenue 11.8%. Normal
Insufficient data
Gross margin swung +5.7pp (34.5% → 40.2%)
Cash Flow Quality
CFFO/NI = 2.37. Profits backed by cash
FCF < 50% of Net Income for 3 years
Accruals ratio = -2.5%. Low accruals
Cash $0.0B covers only 1% of debt $2.7B
Balance Sheet Health
Goodwill+Intangibles $0.4B = 25% of equity. Manageable
Debt/EBITDA = 5.7x (>4x). Financial stress
Other assets -9.0% vs revenue 11.8%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Goodwill+Intangibles surged 102% YoY
Manipulation Score
Insufficient data
Portfolio monitoring
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Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25