SR
Spire Inc.
Regulated Gas
Market Cap$5.09B
5Y Perf.+18.2%
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Stock Comparison
SR vs NWN
Revenue, margins, valuation, and 5-year total return — side by side.
NWN
Northwest Natural Holding Company
Regulated Gas
Market Cap$2.05B
5Y Perf.-24.1%
SR vs NWN — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | SR | NWN |
|---|---|---|
| Industry | Regulated Gas | Regulated Gas |
| Market Cap | $5.09B | $2.05B |
| Revenue (TTM) | $2.47B | $1.29B |
| Net Income (TTM) | $358M | $123M |
| Gross Margin | 73.3% | 22.4% |
| Operating Margin | 22.1% | 26.9% |
| Forward P/E | 16.6x | 16.0x |
| Total Debt | $5.24B | $2.76B |
| Cash & Equiv. | $6M | $41M |
SR vs NWN — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
SR
NWN
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Spire Inc. (SR) | 100 | 118.2 | +18.2% |
| Northwest Natural H… (NWN) | 100 | 75.9 | -24.1% |
Price return only. Dividends and distributions are not included.
Quick Verdict: SR vs NWN
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: SR leads in 6 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. Northwest Natural Holding Company is the stronger pick specifically for growth and revenue expansion. As sector peers, any of these can serve as alternatives in the same allocation.
SR
Spire Inc.
The Long-Run Compounder
SR carries the broadest edge in this set and is the clearest fit for long-term compounding and sleep-well-at-night.
- 73.8% 10Y total return vs NWN's 21.3%
- Lower volatility, beta 0.06, current ratio 0.32x
- PEG 0.67 vs NWN's 4.87
Best for: long-term compounding and sleep-well-at-night
NWN
Northwest Natural Holding Company
The Income Pick
NWN is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 7 yrs, beta -0.05, yield 3.9%
- Rev growth 11.8%, EPS growth 36.5%, 3Y rev CAGR 7.5%
- Beta -0.05, yield 3.9%, current ratio 0.72x
Best for: income & stability and growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | NWN | 11.8% revenue growth vs SR's -4.5% |
| Value | SR | PEG 0.67 vs 4.87 |
| Quality / Margins | SR | 14.5% margin vs NWN's 9.6% |
| Stability / Safety | SR | Lower D/E ratio (154.3% vs 187.0%) |
| Dividends | SR | 3.6% yield, 12-year raise streak, vs NWN's 3.9% |
| Momentum (1Y) | SR | +16.7% vs NWN's +16.0% |
| Efficiency (ROA) | SR | 2.9% ROA vs NWN's 2.0%, ROIC 4.7% vs 8.1% |
SR vs NWN — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
SR vs NWN — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLSRLAGGINGNWN
NWNNorthwest Natural Hol…
1leads
SRSpire Inc.
1leads
6 Total Categories
CATEGORYLEADERvs NWNMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
NWN5/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
Tied
—
Total Returns1Y, 3Y, 5Y total returns with dividends
SR5/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
Evenly matched — SR and NWN each lead in 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
SR is the larger business by revenue, generating $2.5B annually — 1.9x NWN's $1.3B. Profitability is closely matched — net margins range from 14.5% (SR) to 9.6% (NWN). On growth, NWN holds the edge at -0.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | SRSpire Inc. | NWNNorthwest Natural… |
|---|---|---|
| RevenueTrailing 12 months | $2.5B | $1.3B |
| EBITDAEarnings before interest/tax | $864M | $496M |
| Net IncomeAfter-tax profit | $358M | $123M |
| Free Cash FlowCash after capex | -$2.7B | -$333M |
| Gross MarginGross profit ÷ Revenue | +73.3% | +22.4% |
| Operating MarginEBIT ÷ Revenue | +22.1% | +26.9% |
| Net MarginNet income ÷ Revenue | +14.5% | +9.6% |
| FCF MarginFCF ÷ Revenue | -108.1% | -25.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | -9.0% | -0.8% |
| EPS Growth (YoY)Latest quarter vs prior year | +31.1% | -100.0% |
Evenly matched — SR and NWN each lead in 3 of 6 comparable metrics.
Valuation Metrics
NWN leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
At 17.6x trailing earnings, NWN trades at a 11% valuation discount to SR's 19.7x P/E. Adjusting for growth (PEG ratio), SR offers better value at 0.79x vs NWN's 4.87x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | SRSpire Inc. | NWNNorthwest Natural… |
|---|---|---|
| Market CapShares × price | $5.1B | $2.0B |
| Enterprise ValueMkt cap + debt − cash | $10.3B | $4.8B |
| Trailing P/EPrice ÷ TTM EPS | 19.73x | 17.57x |
| Forward P/EPrice ÷ next-FY EPS est. | 16.60x | 15.97x |
| PEG RatioP/E ÷ EPS growth rate | 0.79x | 4.87x |
| EV / EBITDAEnterprise value multiple | 12.56x | 7.82x |
| Price / SalesMarket cap ÷ Revenue | 2.06x | 1.59x |
| Price / BookPrice ÷ Book value/share | 1.49x | 1.35x |
| Price / FCFMarket cap ÷ FCF | — | — |
NWN leads this category, winning 5 of 6 comparable metrics.
Profitability & Efficiency
Evenly matched — SR and NWN each lead in 4 of 8 comparable metrics.
Profitability & Efficiency
SR delivers a 10.4% return on equity — every $100 of shareholder capital generates $10 in annual profit, vs $8 for NWN. SR carries lower financial leverage with a 1.54x debt-to-equity ratio, signaling a more conservative balance sheet compared to NWN's 1.87x.
| Metric | SRSpire Inc. | NWNNorthwest Natural… |
|---|---|---|
| ROE (TTM)Return on equity | +10.4% | +8.3% |
| ROA (TTM)Return on assets | +2.9% | +2.0% |
| ROICReturn on invested capital | +4.7% | +8.1% |
| ROCEReturn on capital employed | +5.8% | +8.1% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | 1.54x | 1.87x |
| Net DebtTotal debt minus cash | $5.2B | $2.7B |
| Cash & Equiv.Liquid assets | $6M | $41M |
| Total DebtShort + long-term debt | $5.2B | $2.8B |
| Interest CoverageEBIT ÷ Interest expense | 2.62x | 2.39x |
Evenly matched — SR and NWN each lead in 4 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
SR leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in SR five years ago would be worth $13,210 today (with dividends reinvested), compared to $10,682 for NWN. Over the past 12 months, SR leads with a +16.7% total return vs NWN's +16.0%. The 3-year compound annual growth rate (CAGR) favors SR at 11.8% vs NWN's 5.3% — a key indicator of consistent wealth creation.
| Metric | SRSpire Inc. | NWNNorthwest Natural… |
|---|---|---|
| YTD ReturnYear-to-date | +4.6% | +6.2% |
| 1-Year ReturnPast 12 months | +16.7% | +16.0% |
| 3-Year ReturnCumulative with dividends | +39.7% | +16.6% |
| 5-Year ReturnCumulative with dividends | +32.1% | +6.8% |
| 10-Year ReturnCumulative with dividends | +73.8% | +21.3% |
| CAGR (3Y)Annualised 3-year return | +11.8% | +5.3% |
SR leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
Evenly matched — SR and NWN each lead in 1 of 2 comparable metrics.
Risk & Volatility
NWN is the less volatile stock with a -0.05 beta — it tends to amplify market swings less than SR's 0.06 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. SR currently trades 90.5% from its 52-week high vs NWN's 86.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | SRSpire Inc. | NWNNorthwest Natural… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.06x | -0.05x |
| 52-Week HighHighest price in past year | $95.31 | $55.99 |
| 52-Week LowLowest price in past year | $69.94 | $39.10 |
| % of 52W HighCurrent price vs 52-week peak | +90.5% | +86.9% |
| RSI (14)Momentum oscillator 0–100 | 44.7 | 44.3 |
| Avg Volume (50D)Average daily shares traded | 338K | 257K |
Evenly matched — SR and NWN each lead in 1 of 2 comparable metrics.
Analyst Outlook
Evenly matched — SR and NWN each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates SR as "Buy" and NWN as "Hold". Consensus price targets imply 17.1% upside for NWN (target: $57) vs 12.5% for SR (target: $97). For income investors, NWN offers the higher dividend yield at 3.88% vs SR's 3.60%.
| Metric | SRSpire Inc. | NWNNorthwest Natural… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $97.00 | $57.00 |
| # AnalystsCovering analysts | 15 | 8 |
| Dividend YieldAnnual dividend ÷ price | +3.6% | +3.9% |
| Dividend StreakConsecutive years of raises | 12 | 7 |
| Dividend / ShareAnnual DPS | $3.10 | $1.89 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Evenly matched — SR and NWN each lead in 1 of 2 comparable metrics.
Key Takeaway
NWN leads in 1 of 6 categories (Valuation Metrics). SR leads in 1 (Total Returns). 4 tied.
Best OverallSpire Inc. (SR)Leads 1 of 6 categories
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SR vs NWN: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is SR or NWN a better buy right now?
For growth investors, Northwest Natural Holding Company (NWN) is the stronger pick with 11.
8% revenue growth year-over-year, versus -4. 5% for Spire Inc. (SR). Northwest Natural Holding Company (NWN) offers the better valuation at 17. 6x trailing P/E (16. 0x forward), making it the more compelling value choice. Analysts rate Spire Inc. (SR) a "Buy" — based on 15 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — SR or NWN?
On trailing P/E, Northwest Natural Holding Company (NWN) is the cheapest at 17.
6x versus Spire Inc. at 19. 7x. On forward P/E, Northwest Natural Holding Company is actually cheaper at 16. 0x.
03Which is the better long-term investment — SR or NWN?
Over the past 5 years, Spire Inc.
(SR) delivered a total return of +32. 1%, compared to +6. 8% for Northwest Natural Holding Company (NWN). Over 10 years, the gap is even starker: SR returned +73. 8% versus NWN's +21. 3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — SR or NWN?
By beta (market sensitivity over 5 years), Northwest Natural Holding Company (NWN) is the lower-risk stock at -0.
05β versus Spire Inc. 's 0. 06β — meaning SR is approximately -222% more volatile than NWN relative to the S&P 500. On balance sheet safety, Spire Inc. (SR) carries a lower debt/equity ratio of 154% versus 187% for Northwest Natural Holding Company — giving it more financial flexibility in a downturn.
05Which is growing faster — SR or NWN?
By revenue growth (latest reported year), Northwest Natural Holding Company (NWN) is pulling ahead at 11.
8% versus -4. 5% for Spire Inc. (SR). On earnings-per-share growth, the picture is similar: Northwest Natural Holding Company grew EPS 36. 5% year-over-year, compared to 4. 3% for Spire Inc.. Over a 3-year CAGR, NWN leads at 7. 5% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — SR or NWN?
Spire Inc.
(SR) is the more profitable company, earning 11. 0% net margin versus 8. 8% for Northwest Natural Holding Company — meaning it keeps 11. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NWN leads at 31. 4% versus 21. 2% for SR. At the gross margin level — before operating expenses — SR leads at 78. 1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is SR or NWN more undervalued right now?
On forward earnings alone, Northwest Natural Holding Company (NWN) trades at 16.
0x forward P/E versus 16. 6x for Spire Inc. — 0. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NWN: 17. 1% to $57. 00.
08Which pays a better dividend — SR or NWN?
All stocks in this comparison pay dividends.
Northwest Natural Holding Company (NWN) offers the highest yield at 3. 9%, versus 3. 6% for Spire Inc. (SR).
09Is SR or NWN better for a retirement portfolio?
For long-horizon retirement investors, Northwest Natural Holding Company (NWN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0.
05), 3. 9% yield). Both have compounded well over 10 years (NWN: +21. 3%, SR: +73. 8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between SR and NWN?
Both stocks operate in the Utilities sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: SR is a small-cap income-oriented stock; NWN is a small-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(SR: -9.0% · NWN: -0.8%)Net Margin>
%
(SR: 14.5% · NWN: 9.6%)P/E Ratio<
x
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