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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

Ratios

Percentages worked out from the filed figures; debt to equity in times. 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
Margins
20.1% 17.8% 21.1% 21.4% 20.2%
13.9% 12.3% 14.2% 14.2% 11.6%
13.6% 12.4% 13.7% 14.8% 11.2%
−15.6% −14.1% −5.5% −9.4% −8.1%
Spending
7.4% 7.7% 8.3% 9.1% 9.8%
31.6% 34.9% 39.9% 36.3% 32.6%
1.8% −0.3% 3.7% −4.4% 3.5%
Returns
8.0% 6.9% 7.0% 7.8% 6.3%
2.8% 2.5% 2.6% 2.8% 2.1%
Balance and payout
n/a 0.98 1.00 1.05 1.14
n/a 63.6% 63.4% 64.3% 65.9%
68.8% 76.5% 79.4% 70.8% 89.1%