Northwest Natural (NWN) vs Spire (SR)
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 Spire (SR) over the past year, gaining 8.4% versus a loss of 6.3%. Over five years, SR leads with a +21.0% price change compared with +0.8% for NWN. Spire is the larger company by market cap ($4.60 billion vs $2.01 billion), about 2.3 times the size.
On valuation, Spire trades at a lower forward P/E (14.2x vs 14.8x for Northwest Natural). Spire offers the higher dividend yield (4.19% vs 4.12%).
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 | SR |
|---|---|---|
| Share price | $47.77 | $77.83 |
| Market cap | $2.01B | $4.60B |
| 1-day change | -0.02% | +0.01% |
| YTD return | +2.23% | -5.90% |
| 1-year return | +8.42% | -6.26% |
| 5-year return | +0.80% | +20.99% |
| P/E ratio (TTM) | 15.87 | 22.56 |
| Forward P/E | 14.78 | 14.19 |
| EPS (TTM) | $3.01 | $3.45 |
| Dividend yield | 4.12% | 4.19% |
| Annual dividend | $1.97 | $3.26 |
| Revenue (latest FY) | — | $2.48B |
| Revenue growth (YoY) | — | -4.50% |
| Net income (latest FY) | — | $271.70M |
| Gross margin | — | 58.76% |
| Operating margin | — | 21.16% |
| Net margin | — | 10.97% |
| 52-week high | $55.99 | $95.31 |
| 52-week low | $43.64 | $74.84 |
| Distance from 52-week high | -14.68% | -18.35% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +20.16% | +17.44% |
| Average volume | 237.21K | 479.34K |
| Shares outstanding | 42.09M | 59.11M |
| Employees | 1,619 | 3,497 |
| 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
- Spire is about 2.3 times larger than Northwest Natural by market value ($4.60B vs $2.01B).
- NWN has outperformed SR by 14.7 percentage points over the past year.
- Spire trades at a higher earnings multiple (22.6x vs 15.9x trailing P/E).
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 Spire
SR stock →Spire Inc., together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream.
Utilities · Oil/Gas Transmission · 3,497 employees
NWN vs SR FAQ
Which is bigger, Northwest Natural or Spire?
Spire (SR) is larger, with a market capitalization of $4.60B compared with $2.01B for Northwest Natural (NWN).
Which stock has performed better over the past year, NWN or SR?
NWN returned +8.42% over the past 12 months, compared with -6.26% for SR (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, NWN or SR?
NWN has the lower trailing P/E at 15.9, versus 22.6 for SR. 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 Spire?
Spire has the higher yield at 4.19%, compared with 4.12% for Northwest Natural.
Are Northwest Natural and Spire in the same industry?
Yes. Both are classified in the Oil/Gas Transmission industry within the Utilities sector.