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Stocks · Utilities · Electric & Other Services Combined

NorthWestern Energy Group, Inc.

NWE Clue Score35
United States Fiscal year ends December CIK 0001993004
$74.15 -0.64% Close, 9 Oct 2026
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Price $74.15 +28.98% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2021Revenue1,372.3Operating income275.7Net income186.8EPS, diluted3.60Fiscal year 2022Revenue1,477.8 +7.7%Operating income263.1Net income183.0 −2.1%EPS, diluted3.25 −9.7%Fiscal year 2023Revenue1,422.1 −3.8%Operating income300.5Net income194.1 +6.1%EPS, diluted3.22 −0.9%Fiscal year 2024Revenue1,513.9 +6.5%Operating income323.3Net income224.1 +15.4%EPS, diluted3.65 +13.4%Fiscal year 2025Revenue1,610.6 +6.4%Operating income325.8Net income181.1 −19.2%EPS, diluted2.94 −19.5%
FY2021FY2022FY2023FY2024FY2025
Revenue 1,372.3 1,477.8 1,422.1 1,513.9 1,610.6
Growth +7.7% −3.8% +6.5% +6.4%
Operating income 275.7 263.1 300.5 323.3 325.8
Net income 186.8 183.0 194.1 224.1 181.1
Growth −2.1% +6.1% +15.4% −19.2%
EPS, diluted 3.60 3.25 3.22 3.65 2.94
Growth −9.7% −0.9% +13.4% −19.5%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2021Operating margin20.1%Net margin13.6%Free cash flow margin−15.6%Fiscal year 2022Operating margin17.8%Net margin12.4%Free cash flow margin−14.1%Fiscal year 2023Operating margin21.1%Net margin13.7%Free cash flow margin−5.5%Fiscal year 2024Operating margin21.4%Net margin14.8%Free cash flow margin−9.4%Fiscal year 2025Operating margin20.2%Net margin11.2%Free cash flow margin−8.1%
FY2021FY2022FY2023FY2024FY2025
Operating margin 20.1% 17.8% 21.1% 21.4% 20.2%
Net margin 13.6% 12.4% 13.7% 14.8% 11.2%
Free cash flow margin −15.6% −14.1% −5.5% −9.4% −8.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2021Operating cash flow220.0Capital expenditure−434.3Free cash flow−214.4Dividends paid−128.5Fiscal year 2022Operating cash flow307.2Capital expenditure−515.1Free cash flow−207.9Dividends paid−140.1Fiscal year 2023Operating cash flow489.2Capital expenditure−566.9Free cash flow−77.7Dividends paid−154.1Fiscal year 2024Operating cash flow406.7Capital expenditure−549.2Free cash flow−142.5Dividends paid−158.6Fiscal year 2025Operating cash flow394.5Capital expenditure−524.5Free cash flow−130.0Dividends paid−161.4
FY2021FY2022FY2023FY2024FY2025
Operating cash flow 220.0 307.2 489.2 406.7 394.5
Capital expenditure −434.3 −515.1 −566.9 −549.2 −524.5
Free cash flow −214.4 −207.9 −77.7 −142.5 −130.0
Growth
Dividends paid −128.5 −140.1 −154.1 −158.6 −161.4

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2021Cash2.8Shareholders’ equity2,339.7Fiscal year 2022Cash8.5Total debt2,618.9Net cash (debt)−2,610.4Shareholders’ equity2,665.2Debt to equity0.98Fiscal year 2023Cash9.2Total debt2,784.6Net cash (debt)−2,775.4Shareholders’ equity2,785.3Debt to equity1.00Fiscal year 2024Cash4.3Total debt2,995.3Net cash (debt)−2,991.0Shareholders’ equity2,857.7Debt to equity1.05Fiscal year 2025Cash8.8Total debt3,286.0Net cash (debt)−3,277.2Shareholders’ equity2,885.7Debt to equity1.14
FY2021FY2022FY2023FY2024FY2025
Cash 2.8 8.5 9.2 4.3 8.8
Total debt n/a 2,618.9 2,784.6 2,995.3 3,286.0
Net cash (debt) n/a −2,610.4 −2,775.4 −2,991.0 −3,277.2
Shareholders’ equity 2,339.7 2,665.2 2,785.3 2,857.7 2,885.7
Debt to equity n/a 0.98 1.00 1.05 1.14

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Operations
220.0 307.2 489.2 406.7 394.5
Growth +39.7% +59.2% −16.9% −3.0%
187.5 195.0 210.5 227.6 249.5
Investment
−434.3 −515.1 −566.9 −549.2 −524.5
calc −214.4 −207.9 −77.7 −142.5 −130.0
Growth
calc −4.13 −3.69 −1.29 −2.32 −2.11
−435.8 −516.9 −570.8 −554.5 −570.6
Financing
217.5 213.3 84.3 151.6 177.9
−128.5 −140.1 −154.1 −158.6 −161.4

Lines marked calc are worked out here from filed figures; point at one for how. Capital expenditure, dividends and buybacks are shown as money out, so negative.