Northwest Natural Gas Co (NWN)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	1,425,440	1,424,600	1,294,580	1,294,590	1,246,170	1,287,000	1,045,530	1,044,700	1,044,590	916,026	915,501	860,654	860,081	860,235	918,887	953,962	805,955	806,014	806,001	632,484
Total assets	US$ in thousands	4,867,090	4,665,120	4,536,700	4,592,100	4,748,330	4,300,710	4,100,520	4,054,630	4,064,600	3,929,220	3,783,500	3,758,620	3,756,380	3,618,100	3,641,350	4,001,530	3,428,450	3,251,620	3,238,130	3,191,120
Debt-to-assets ratio		0.29	0.31	0.29	0.28	0.26	0.30	0.25	0.26	0.26	0.23	0.24	0.23	0.23	0.24	0.25	0.24	0.24	0.25	0.25	0.20

December 31, 2023 calculation

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

The debt-to-assets ratio of Northwest Natural Holding Co has been relatively consistent over the past eight quarters, ranging between 0.31 to 0.36. This ratio indicates that, on average, the company finances around 34-36% of its assets using debt.

A debt-to-assets ratio of less than 1 implies that the company has more assets than debt, indicating a relatively healthy financial position. Northwest Natural Holding Co's ratios fall within this range, suggesting that the company has a conservative approach to debt financing.

The slight fluctuations in the debt-to-assets ratio over the quarters do not indicate a significant change in the company's capital structure. Overall, the stability of this ratio implies that Northwest Natural Holding Co has been maintaining a balanced mix of debt and equity in funding its operations and investments.