NASDAQ : NWE
NorthWestern Energy Group, Inc. — Financial statements
Utilities · Utilities - Regulated Electric · United States
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Financial statements
NorthWestern Energy Group, Inc. (NWE) reported revenue of 1.69B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.69B | 1.61B | 1.51B | 1.42B | 1.48B | 1.37B |
| Operations & Maintenance | 319.51M | 284.92M | 227.84M | 220.52M | 221.43M | 208.30M |
| Selling, General & Admin | 155.58M | 148.94M | 137.44M | 117.36M | 113.78M | 101.87M |
| Depreciation & Amortization | 258.56M | 249.53M | 227.63M | 210.47M | 195.02M | 187.47M |
| Other Operating Expenses | 623.06M | 593.16M | 594.52M | 576.89M | 676.06M | 605.19M |
| Total Operating Expenses | 1.36B | 1.28B | 1.19B | 1.13B | 1.21B | 1.10B |
| Operating Income | 334.67M | 334.01M | 326.46M | 296.89M | 271.56M | 269.48M |
| Interest Expense | -157.83M | -150.35M | -131.67M | -114.62M | -100.11M | -93.67M |
| Net Interest Expense | -157.83M | -150.35M | -131.67M | -114.62M | -100.11M | -93.67M |
| Other Non-Operating Income (Expenses) | 15.68M | 13.20M | 21.74M | 19.40M | 10.96M | 14.45M |
| EBT Excluding Unusual Items | 192.52M | 196.87M | 216.53M | 201.67M | 182.40M | 190.26M |
| Total Merger & Restructuring Charges | -16.00M | -9.30M | ||||
| Gain (Loss) on Sale of Investments | -4.16M | |||||
| Legal Settlements | 2.30M | |||||
| Pretax Income | 176.52M | 187.56M | 214.67M | 201.67M | 182.40M | 190.26M |
| Income Tax Expense | 5.15M | 6.47M | -9.44M | 7.54M | -605.00K | 3.42M |
| Net Income | 171.37M | 181.09M | 224.11M | 194.13M | 183.01M | 186.84M |
| Net Income to Common | 171.37M | 181.09M | 224.11M | 194.13M | 183.01M | 186.84M |
| Shares Outstanding (Basic) | 61.44M | 61.38M | 61.29M | 60.32M | 55.77M | 51.71M |
| Shares Outstanding (Diluted) | 61.67M | 61.54M | 61.37M | 60.36M | 56.29M | 51.87M |
| EPS (Basic) | 2.79 | 2.95 | 3.66 | 3.22 | 3.28 | 3.61 |
| EPS (Diluted) | 2.77 | 2.94 | 3.65 | 3.22 | 3.25 | 3.60 |
| Free Cash Flow | -192.16M | -130.00M | -142.50M | -77.66M | -207.90M | -214.35M |
| Free Cash Flow Per Share | -3.12 | -2.11 | -2.32 | -1.29 | -3.69 | -4.13 |
| Dividend Per Share | 2.66 | 2.64 | 2.60 | 2.56 | 2.52 | 2.48 |
| Profit Margin | 10.13% | 11.24% | 14.80% | 13.65% | 12.38% | 13.61% |
| Free Cash Flow Margin | -11.36% | -8.07% | -9.41% | -5.46% | -14.07% | -15.62% |
| EBITDA | 593.23M | 583.54M | 554.10M | 507.36M | 466.58M | 456.95M |
| EBITDA Margin | 35.07% | 36.23% | 36.60% | 35.68% | 31.57% | 33.30% |
| D&A For EBITDA | 258.56M | 249.53M | 227.63M | 210.47M | 195.02M | 187.47M |
| EBIT | 334.67M | 334.01M | 326.46M | 296.89M | 271.56M | 269.48M |
| EBIT Margin | 19.79% | 20.74% | 21.56% | 20.88% | 18.38% | 19.64% |
| Effective Tax Rate | 2.92% | 3.45% | 3.74% | 1.80% | ||
| Revenue as Reported | 1.69B | 1.61B | 1.51B | 1.42B | 1.48B | 1.37B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.18M | 8.78M | 4.28M | 9.16M | 8.49M | 2.82M |
| Accounts Receivable | 168.78M | 209.75M | 187.76M | 212.26M | 244.95M | 198.67M |
| Inventory | 145.99M | 132.51M | 122.94M | 114.54M | 107.36M | 80.61M |
| Prepaid Expenses | 33.51M | 38.01M | 38.61M | 25.40M | 28.04M | 24.21M |
| Restricted Cash | 20.92M | 21.96M | 24.73M | 16.02M | 13.97M | 15.94M |
| Other Current Assets | 108.27M | 92.94M | 39.85M | 29.63M | 136.01M | 115.54M |
| Total Current Assets | 481.65M | 503.94M | 418.19M | 407.01M | 538.82M | 437.80M |
| Property, Plant & Equipment | 6.90B | 6.74B | 6.40B | 6.04B | 5.66B | 5.25B |
| Regulatory Assets | 778.83M | 772.63M | 764.41M | 743.95M | 716.57M | 690.69M |
| Goodwill | 367.63M | 367.63M | 357.59M | 357.59M | 357.59M | 357.59M |
| Other Long-Term Assets | 173.50M | 76.63M | 59.06M | 52.31M | 47.32M | 47.14M |
| Total Assets | 8.70B | 8.46B | 8.00B | 7.60B | 7.32B | 6.78B |
| Accounts Payable | 114.80M | 129.63M | 111.79M | 124.34M | 201.50M | 115.24M |
| Accrued Expenses | 292.10M | 254.65M | 238.31M | 249.09M | 227.36M | 207.87M |
| Short-Term Debt | 100.00M | 150.00M | 100.00M | |||
| Current Portion of Long-Term Debt | 45.00M | 104.97M | 299.95M | 99.95M | 144.53M | |
| Current Portion of Leases | 1.71M | 1.86M | 3.60M | 3.34M | 3.10M | 2.88M |
| Other Current Liabilities | 29.44M | 56.33M | 48.55M | 58.18M | 44.36M | 53.66M |
| Total Current Liabilities | 583.05M | 697.45M | 802.20M | 534.90M | 620.85M | 379.64M |
| Long-Term Debt | 3.44B | 3.18B | 2.70B | 2.68B | 2.47B | 2.54B |
| Long-Term Leases | 7.73M | 1.86M | 5.46M | 8.80M | 11.90M | |
| Pension & Post-Retirement Benefits | 20.13M | 56.60M | 75.30M | 84.73M | 96.15M | |
| Long-Term Deferred Tax Liabilities | 761.09M | 733.06M | 663.43M | 600.52M | 538.98M | 499.63M |
| Other Long-Term Liabilities | 1.01B | 942.26M | 920.38M | 914.52M | 924.88M | 911.93M |
| Total Liabilities | 5.81B | 5.57B | 5.14B | 4.82B | 4.65B | 4.44B |
| Common Stock | 650.00K | 649.00K | 648.00K | 648.00K | 633.00K | 576.00K |
| Additional Paid-In Capital | 2.10B | 2.09B | 2.08B | 2.08B | 2.00B | 1.72B |
| Retained Earnings | 903.07M | 896.72M | 877.02M | 811.50M | 771.41M | 728.47M |
| Treasury Stock | -99.03M | -97.50M | -97.39M | -97.93M | -98.39M | -98.25M |
| Comprehensive Income & Other | -5.84M | -6.06M | -6.70M | -7.66M | -7.85M | -7.31M |
| Shareholders' Equity | 2.90B | 2.89B | 2.86B | 2.79B | 2.67B | 2.34B |
| Total Liabilities & Equity | 8.70B | 8.46B | 8.00B | 7.60B | 7.32B | 6.78B |
| Total Debt | 3.60B | 3.44B | 3.10B | 2.79B | 2.63B | 2.56B |
| Net Cash (Debt) | -3.59B | -3.43B | -3.10B | -2.78B | -2.62B | -2.55B |
| Net Cash Per Share | -58.26 | -55.72 | -50.45 | -46.13 | -46.58 | -49.23 |
| Filing Date Shares Outstanding | 61.52M | 61.44M | 61.33M | 61.26M | 59.77M | 54.08M |
| Total Common Shares Outstanding | 61.51M | 61.42M | 61.32M | 61.25M | 59.74M | 54.06M |
| Working Capital | -101.40M | -193.51M | -384.01M | -127.89M | -82.02M | 58.15M |
| Book Value Per Share | 47.07 | 46.98 | 46.60 | 45.48 | 44.61 | 43.28 |
| Tangible Book Value | 2.53B | 2.52B | 2.50B | 2.43B | 2.31B | 1.98B |
| Tangible Book Value Per Share | 41.09 | 41.00 | 40.77 | 39.64 | 38.62 | 36.67 |
| Machinery | 9.07B | 8.61B | 7.92B | 7.53B | 7.02B | |
| Construction In Progress | 217.94M | 164.77M | 377.24M | 311.65M | 294.62M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 171.37M | 181.09M | 224.11M | 194.13M | 183.01M | 186.84M |
| Depreciation & Amortization | 258.56M | 249.53M | 227.63M | 210.47M | 195.02M | 187.47M |
| Other Amortization | 4.00M | 4.42M | 4.65M | 5.14M | 5.32M | 5.25M |
| Loss (Gain) on Sale of Assets | -82.00K | -82.00K | -61.00K | 316.00K | 482.00K | -47.00K |
| Loss (Gain) on Sale of Investments | 4.16M | |||||
| Stock-Based Compensation | 6.91M | 6.99M | 4.72M | 5.18M | 5.49M | 5.35M |
| Change in Accounts Receivable | -12.36M | -20.48M | 24.49M | 32.70M | -46.28M | -30.44M |
| Change in Inventory | -17.21M | -6.19M | -8.40M | -7.18M | -26.74M | -19.60M |
| Change in Accounts Payable | 15.56M | -4.35M | 7.40M | -54.72M | 50.54M | 7.49M |
| Change in Other Net Operating Assets | -35.75M | -44.60M | -54.36M | 114.23M | -36.41M | -111.76M |
| Other Operating Activities | 25.09M | 28.14M | -27.60M | -11.03M | -23.18M | -10.57M |
| Operating Cash Flow | 416.09M | 394.45M | 406.74M | 489.23M | 307.24M | 219.98M |
| Capital Expenditures | -608.25M | -524.46M | -549.24M | -566.89M | -515.14M | -434.33M |
| Cash Acquisitions | -35.94M | -35.94M | ||||
| Investment in Securities | -5.53M | -10.24M | -4.72M | -3.92M | -1.72M | -1.50M |
| Other Investing Activities | -500.00K | |||||
| Investing Cash Flow | -649.72M | -570.63M | -554.46M | -570.81M | -516.86M | -435.83M |
| Short-Term Debt Issued | 50.00M | 100.00M | ||||
| Long-Term Debt Issued | 602.08M | 310.00M | 300.00M | 77.00M | 250.91M | |
| Total Debt Issued | 527.08M | 652.08M | 410.00M | 300.00M | 77.00M | 250.91M |
| Short-Term Debt Repaid | -100.00M | |||||
| Long-Term Debt Repaid | -309.00M | -100.00M | -132.00M | -955.00K | ||
| Total Debt Repaid | -130.00M | -309.00M | -100.00M | -132.00M | -100.95M | |
| Net Debt Issued (Repaid) | 397.08M | 343.08M | 310.00M | 168.00M | 77.00M | 149.96M |
| Issuance of Common Stock | 709.00K | 709.00K | 1.19M | 74.68M | 277.57M | 196.95M |
| Common Dividends Paid | -162.84M | -161.39M | -158.59M | -154.05M | -140.06M | -128.48M |
| Other Financing Activities | -2.76M | -4.50M | -1.05M | -4.33M | -1.19M | -909.00K |
| Financing Cash Flow | 232.18M | 177.90M | 151.55M | 84.31M | 213.32M | 217.52M |
| Net Cash Flow | -1.45M | 1.72M | 3.83M | 2.72M | 3.70M | 1.67M |
| Free Cash Flow | -192.16M | -130.00M | -142.50M | -77.66M | -207.90M | -214.35M |
| Free Cash Flow Margin | -11.36% | -8.07% | -9.41% | -5.46% | -14.07% | -15.62% |
| Free Cash Flow Per Share | -3.12 | -2.11 | -2.32 | -1.29 | -3.69 | -4.13 |
| Levered Free Cash Flow | -242.99M | -188.03M | -239.51M | -141.30M | -201.06M | -245.48M |
| Unlevered Free Cash Flow | -148.34M | -98.48M | -161.86M | -74.80M | -143.81M | -192.18M |
| Cash Interest Paid | 146.52M | 136.98M | 128.33M | 105.24M | 95.40M | 87.22M |
| Cash Income Tax Paid | 8.48M | 227.00K | -4.28M | -827.00K | 4.71M | 4.33M |
| Change in Working Capital | -49.76M | -75.62M | -30.87M | 85.02M | -58.89M | -154.31M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.94B | 3.96B | 3.28B | 3.04B | 3.21B | 3.24B |
| Enterprise Value | 8.53B | 7.26B | 6.25B | 5.69B | 5.77B | 5.71B |
| PE Ratio | 28.98 | 21.89 | 14.63 | 15.67 | 17.55 | 17.36 |
| PS Ratio | 2.92 | 2.46 | 2.17 | 2.14 | 2.17 | 2.36 |
| PB Ratio | 1.71 | 1.37 | 1.15 | 1.09 | 1.21 | 1.39 |
| P/OCF Ratio | 11.87 | 10.05 | 8.06 | 6.22 | 10.46 | 14.74 |
| EV/Sales Ratio | 5.04 | 4.51 | 4.13 | 4.00 | 3.90 | 4.16 |
| EV/EBITDA Ratio | 14.38 | 12.44 | 11.28 | 11.22 | 12.37 | 12.50 |
| EV/EBIT Ratio | 25.49 | 21.73 | 19.14 | 19.17 | 21.25 | 21.20 |
| Debt / Equity Ratio | 1.24 | 1.19 | 1.08 | 1.00 | 0.99 | 1.09 |
| Debt / EBITDA Ratio | 6.06 | 5.89 | 5.60 | 5.51 | 5.64 | 5.59 |
| Net Debt / Equity Ratio | 1.24 | 1.19 | 1.08 | 1.00 | 0.98 | 1.09 |
| Net Debt / EBITDA Ratio | 6.06 | 5.88 | 5.59 | 5.49 | 5.62 | 5.59 |
| Net Debt / FCF Ratio | -18.70 | -26.38 | -21.73 | -35.85 | -12.61 | -11.91 |
| Quick Ratio | 0.30 | 0.31 | 0.24 | 0.41 | 0.41 | 0.53 |
| Current Ratio | 0.83 | 0.72 | 0.52 | 0.76 | 0.87 | 1.15 |
| Asset Turnover | 0.20 | 0.20 | 0.19 | 0.19 | 0.21 | 0.21 |
| Return on Equity (ROE) | 5.93% | 6.31% | 7.94% | 7.12% | 7.31% | 8.46% |
| Return on Assets (ROA) | 2.48% | 2.54% | 2.62% | 2.49% | 2.41% | 2.56% |
| Return on Capital Employed (ROCE) | 4.10% | 4.30% | 4.50% | 4.20% | 4.10% | 4.20% |
| Earnings Yield | 3.45% | 4.57% | 6.84% | 6.38% | 5.70% | 5.76% |
| FCF Yield | -3.89% | -3.28% | -4.35% | -2.55% | -6.47% | -6.61% |
| Dividend Yield | 3.34% | 4.09% | 4.86% | 5.16% | 4.69% | 4.13% |
| Payout Ratio | 96.74% | 89.12% | 70.76% | 79.35% | 76.53% | 68.77% |
| Buyback Yield / Dilution | -0.37% | -0.27% | -1.68% | -7.22% | -8.52% | -2.30% |
| Total Shareholder Return | 2.96% | 3.82% | 3.18% | -2.07% | -3.83% | 1.83% |