Northwest Natural Gas Co (NWN)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	1,425,440	1,246,170	1,044,590	860,081	805,955
Total assets	US$ in thousands	4,867,090	4,748,330	4,064,600	3,756,380	3,428,450
Debt-to-assets ratio		0.29	0.26	0.26	0.23	0.24

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,425,440K ÷ $4,867,090K
= 0.29

Northwest Natural Holding Co's debt-to-assets ratio has remained relatively stable over the past five years, ranging from 0.30 to 0.35. This ratio indicates that, on average, approximately 34% of the company's assets are financed by debt. The consistent nature of this ratio suggests that the company has maintained a prudent balance between debt and assets in its capital structure over the years. However, a slightly increasing trend from 0.30 in 2019 to 0.35 in 2021 may indicate a slightly higher reliance on debt financing in recent years. Overall, the company appears to have a manageable level of debt relative to its total assets.