Is NWN or SR more undervalued in 2026?

CirclFi compares Northwest Natural Holding Compa (NWN) and Spire Inc. (SR) using 13 institutional-grade valuation models. NWN has a Quality of Company score of 6.2/10 while SR scores 7.6/10.

Which is a better buy — NWN or SR?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do NWN and SR valuations compare?

NWN at $48.49 and SR at $82.26 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

NWN vs SR Valuation Comparison 2026 — Intrinsic Value Analysis

NWN

Natural Gas Distribution

Northwest Natural Holding Compa

Quality

6.2

out of 10

Value Trap

SAFE

Price

$48.49

Last close

Models

13/13

Active

SR

Natural Gas Distribution

Spire Inc.

Quality

7.6

out of 10

Value Trap

SAFE

Price

$82.26

Last close

Models

11/13

Active

Model-by-Model Comparison

Model	Type	NWN Fair Value	NWN Upside	SR Fair Value	SR Upside
Bayesian DCF	Intrinsic	$11.01	-79.1%	$43.90	-46.6%
Earnings Power Value	Intrinsic	$23.87	-54.7%	—	—
EROIC Spread	Intrinsic	$11.95	-75.4%	$26.51	-67.8%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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NWN vs SR — Which Stock Is More Undervalued?

SR scores higher with a 7.6/10 quality rating vs NWN's 6.2/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Northwest Natural Holding Compa (NWN) and Spire Inc. (SR) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

NWN currently trades at $48.49 with a QOC of 6.2/10, while SR trades at $82.26 with a QOC of 7.6/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).