Northwest Natural (NWN) vs ONE Gas (OGS)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Northwest Natural (NWN) has outperformed ONE Gas (OGS) over the past year, gaining 8.4% versus a loss of 9.6%. Over five years, OGS leads with a +7.0% price change compared with +0.8% for NWN. ONE Gas is the larger company by market cap ($4.52 billion vs $2.00 billion), about 2.3 times the size.
On valuation, ONE Gas trades at a lower forward P/E (14.3x vs 14.7x for Northwest Natural). Northwest Natural offers the higher dividend yield (4.14% vs 3.75%).
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | NWN | OGS |
|---|---|---|
| Share price | $47.54 | $71.98 |
| Market cap | $2.00B | $4.52B |
| 1-day change | -0.50% | -0.92% |
| YTD return | +2.23% | -5.95% |
| 1-year return | +8.42% | -9.61% |
| 5-year return | +0.80% | +7.03% |
| P/E ratio (TTM) | 15.79 | 15.48 |
| Forward P/E | 14.71 | 14.30 |
| EPS (TTM) | $3.01 | $4.65 |
| Dividend yield | 4.14% | 3.75% |
| Annual dividend | $1.97 | $2.70 |
| Revenue (latest FY) | — | $2.43B |
| Revenue growth (YoY) | — | +16.50% |
| Net income (latest FY) | — | $264.22M |
| Gross margin | — | 58.85% |
| Operating margin | — | 18.85% |
| Net margin | — | 10.88% |
| 52-week high | $55.99 | $90.78 |
| 52-week low | $43.64 | $70.37 |
| Distance from 52-week high | -15.09% | -20.71% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +20.74% | +23.26% |
| Average volume | 237.21K | 537.99K |
| Shares outstanding | 42.09M | 62.86M |
| Employees | 1,619 | 4,000 |
| Sector | Utilities | Utilities |
| Industry | Oil/Gas Transmission | Oil/Gas Transmission |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- ONE Gas is about 2.3 times larger than Northwest Natural by market value ($4.52B vs $2.00B).
- NWN has outperformed OGS by 18.0 percentage points over the past year.
About Northwest Natural
NWN stock →Northwest Natural Holding Company, through its subsidiary, Northwest Natural Gas Company, provides regulated natural gas distribution services to residential, commercial, and industrial customers in the United States. It operates through three segments: NWN Gas Utility, SiEnergy, and NWN Water.
Utilities · Oil/Gas Transmission · 1,619 employees
About ONE Gas
OGS stock →ONE Gas, Inc., together with its subsidiaries, operates as a regulated natural gas distribution utility company in the United States. The company offers natural gas distribution services.
Utilities · Oil/Gas Transmission · 4,000 employees
NWN vs OGS FAQ
Which is bigger, Northwest Natural or ONE Gas?
ONE Gas (OGS) is larger, with a market capitalization of $4.52B compared with $2.00B for Northwest Natural (NWN).
Which stock has performed better over the past year, NWN or OGS?
NWN returned +8.42% over the past 12 months, compared with -9.61% for OGS (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, NWN or OGS?
OGS has the lower trailing P/E at 15.5, versus 15.8 for NWN. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Northwest Natural or ONE Gas?
Northwest Natural has the higher yield at 4.14%, compared with 3.75% for ONE Gas.
Are Northwest Natural and ONE Gas in the same industry?
Yes. Both are classified in the Oil/Gas Transmission industry within the Utilities sector.