NWN vs. FMCB
NWN (Northwest Natural Holding Company) and FMCB (Farmers & Merchants Bancorp) are both stocks. NWN operates in Utilities - Regulated Gas (Utilities), while FMCB operates in Banks - Regional (Financial Services). Over the past 10 years, NWN returned 1.85%/yr vs 10.29%/yr for FMCB. At a 0.03 correlation, their price movements are largely independent.
Performance
NWN vs. FMCB - Performance Comparison
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Returns By Period
In the year-to-date period, NWN achieves a 6.78% return, which is significantly lower than FMCB's 22.48% return. Over the past 10 years, NWN has underperformed FMCB with an annualized return of 1.85%, while FMCB has yielded a comparatively higher 10.29% annualized return.
NWN
- 1D
- -1.71%
- 1M
- -2.99%
- YTD
- 6.78%
- 6M
- 8.05%
- 1Y
- 28.62%
- 3Y*
- 8.99%
- 5Y*
- 2.11%
- 10Y*
- 1.85%
FMCB
- 1D
- 2.63%
- 1M
- 3.04%
- YTD
- 22.48%
- 6M
- 24.87%
- 1Y
- 39.81%
- 3Y*
- 12.94%
- 5Y*
- 11.17%
- 10Y*
- 10.29%
NWN vs. FMCB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NWN Northwest Natural Holding Company | 6.78% | 23.75% | 6.77% | -14.45% | 1.49% | 10.26% | -35.52% | 25.46% | 4.48% | 2.82% |
FMCB Farmers & Merchants Bancorp | 22.48% | 6.83% | 2.04% | 2.51% | 11.29% | 28.38% | 1.00% | 11.65% | 5.62% | 7.90% |
Correlation
The correlation between NWN and FMCB is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2001 | 0.03 |
Fundamentals
NWN:
$4.01
FMCB:
$136.25
NWN:
12.21
FMCB:
9.95
NWN:
3.21
FMCB:
0.78
NWN:
1.17
FMCB:
3.05
NWN:
$1.29B
FMCB:
$308.67M
NWN:
$288.00M
FMCB:
$243.83M
NWN:
$426.96M
FMCB:
$131.11M
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Return for Risk
NWN vs. FMCB — Risk / Return Rank
NWN
FMCB
NWN vs. FMCB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northwest Natural Holding Company (NWN) and Farmers & Merchants Bancorp (FMCB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| NWN | FMCB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.45 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 5.58 | -3.44 |
| Martin ratioReturn relative to average drawdown | 6.57 | 15.66 | -9.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NWN | FMCB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.44 | 2.13 | -0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 0.54 | -0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.07 | 0.50 | -0.44 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.43 | -0.12 |
Drawdowns
NWN vs. FMCB - Drawdown Comparison
The maximum NWN drawdown since its inception was -46.27%, which is greater than FMCB's maximum drawdown of -42.00%. Use the drawdown chart below to compare losses from any high point for NWN and FMCB.
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Drawdown Indicators
| NWN | FMCB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.27% | -42.00% | -4.27% |
Max Drawdown (1Y)Largest decline over 1 year | -13.46% | -7.17% | -6.29% |
Max Drawdown (3Y)Largest decline over 3 years | -18.39% | -14.32% | -4.07% |
Max Drawdown (5Y)Largest decline over 5 years | -32.09% | -16.91% | -15.18% |
Max Drawdown (10Y)Largest decline over 10 years | -46.27% | -25.24% | -21.03% |
Current DrawdownCurrent decline from peak | -17.02% | -3.39% | -13.63% |
Average DrawdownAverage peak-to-trough decline | -12.14% | -9.64% | -2.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.37% | 2.55% | +1.82% |
Volatility
NWN vs. FMCB - Volatility Comparison
The current volatility for Northwest Natural Holding Company (NWN) is 6.35%, while Farmers & Merchants Bancorp (FMCB) has a volatility of 10.29%. This indicates that NWN experiences smaller price fluctuations and is considered to be less risky than FMCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NWN | FMCB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.35% | 10.29% | -3.94% |
Volatility (6M)Calculated over the trailing 6-month period | 15.58% | 15.02% | +0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.02% | 18.80% | +1.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.87% | 20.83% | +2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.15% | 20.73% | +7.42% |
Dividends
NWN vs. FMCB - Dividend Comparison
NWN's dividend yield for the trailing twelve months is around 4.02%, more than FMCB's 1.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMCB Farmers & Merchants Bancorp | 1.80% | 1.74% | 1.71% | 1.62% | 1.54% | 1.59% | 1.94% | 1.85% | 1.99% | 2.00% | 2.05% | 2.39% |
NWN Northwest Natural Holding Company | 4.02% | 4.20% | 4.94% | 4.99% | 4.06% | 3.94% | 4.16% | 2.58% | 3.13% | 3.16% | 3.13% | 3.68% |
Financials
NWN vs. FMCB - Financials Comparison
This section allows you to compare key financial metrics between Northwest Natural Holding Company and Farmers & Merchants Bancorp. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
NWN vs. FMCB - Profitability Comparison
NWN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Northwest Natural Holding Company reported a gross profit of 0.00 and revenue of 490.40M. Therefore, the gross margin over that period was 0.0%.
FMCB - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Farmers & Merchants Bancorp reported a gross profit of 61.56M and revenue of 76.87M. Therefore, the gross margin over that period was 80.1%.
NWN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Northwest Natural Holding Company reported an operating income of 162.87M and revenue of 490.40M, resulting in an operating margin of 33.2%.
FMCB - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Farmers & Merchants Bancorp reported an operating income of 32.38M and revenue of 76.87M, resulting in an operating margin of 42.1%.
NWN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Northwest Natural Holding Company reported a net income of 97.49M and revenue of 490.40M, resulting in a net margin of 19.9%.
FMCB - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Farmers & Merchants Bancorp reported a net income of 24.07M and revenue of 76.87M, resulting in a net margin of 31.3%.
Frequently Asked Questions
NWN and FMCB have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMCB has higher volatility (10.29%) compared to NWN (6.35%). In terms of maximum drawdown, NWN dropped -46.27% vs FMCB's -42.00%.
FMCB currently has the higher Sharpe Ratio (2.13 vs 1.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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