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NorthWestern Energy Group, Inc. NWE

Nasdaq · stock · Electric & Other Services Combined · website · IPO 2004-11-02 · LEI

NorthWestern Energy Group, Inc. statistics & valuation

Market cap$4.5B
P / E24.9×
P / S2.8×
P / B1.6×
Dividend yield3.57%
Net margin11.2%
Return on equity6.3%
FCF margin-8.1%
Net debt$3.3B
Net debt / EBITDA5.7×
Enterprise value USD$7.8B
EV / EBITDA13.5×
Earnings yield EBIT/EV4.2%
Return on capital4.2%
Graham number -21.1%$55.69

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($55.69); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
13.60% 12.40% 12.50% 14.80% 11.20% 20212022202320242025
Gross margin (%)
20212022202320242025
Operating margin (%)
20.10% 17.80% 19.30% 21.40% 20.20% 20212022202320242025
Return on equity (%)
8.00% 6.90% 7.00% 7.80% 6.30% 20212022202320242025
Shares outstanding
51.9M 59.7M 61.2M 61.4M 61.5M 20212022202320242025
Net debt ($)
$2.61B $2.78B $2.99B $3.28B 20212022202320242025
Share buybacks ($)
20212022202320242025
Return on assets (%)
2.80% 2.50% 2.60% 2.80% 2.10% 20212022202320242025
Free cash flow margin (%)
-15.60% -14.10% -5.00% -9.40% -8.10% 20212022202320242025
Debt / equity (×)
0.98× 1.00× 1.05× 1.14× 20212022202320242025
EPS ($)
$3.60 $3.25 $3.22 $3.65 $2.94 20212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

NorthWestern Energy Group, Inc. trades at about 24× earnings — above its 10-year norm (10-year range 14.8×–23.1×, median 16.1×).

14.8× 24×

Shaded band = 10-year range (14.8×–23.1×); dot = today's 24×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021
Operating margin20.2%21.4%19.3%17.8%20.1%
Net margin11.2%14.8%12.5%12.4%13.6%
FCF margin-8.1%-9.4%-5.0%-14.1%-15.6%
Return on assets2.1%2.8%2.6%2.5%2.8%
Return on equity6.3%7.8%7.0%6.9%8.0%
Debt / equity1.14×1.05×1.00×0.98×—
Current ratio0.720.520.760.87—

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.