NorthWestern Energy Group (NWE) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

NorthWestern Energy Group

NasdaqGS•Utilities•Utilities - Regulated Electric

$68.52+0.54(0.01%)Pre-market

Market Cap

$4.26B

P/E

24.9x

P/S

2.5x

P/B

1.5x

NorthWestern Energy Group, Inc., doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and diversified industrial customers. It generates, purchases, transmits, and distributes electricity; and produces, purchases, stores, transmits, and distributes natural gas, as well as owns municipal franchises to provide natural gas service in the communities. The company operates 6,596 miles of electric transmission and 18,946 miles of electric distribution lines with approximately 397 transmission and distribution substations; and 2,133 miles of natural gas transmission and 5,939 miles of natural gas distribution lines with approximately 134 city gate stations in Montana. It also operates 1,344 miles of electric transmission and 2,386 miles of electric distribution lines in South Dakota with approximately 123 transmission and distribution substations; and 55 miles of natural gas transmission, 1,853 miles of natural gas distribution lines in South Dakota, and 836 miles of natural gas distribution lines Nebraska. The company provides electricity and/or natural gas to approximately 850,300 customers in Montana, South Dakota, Nebraska, and Yellowstone National Park. NorthWestern Energy Group, Inc. was incorporated in 1923 and is based in Sioux Falls, South Dakota.

How this company scores

WeakMetricSide Score: 34/100

Strongest: Profitability (12/25); weakest: Cash & Earnings Quality (2/25).

Profitability12/25

Growth11/25

Balance Sheet & Red Flags9/25

Cash & Earnings Quality2/25

Strengths

Strong margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 24.9x5y range 10.6x – 24.9x

Currently above its 9-quarter median.

P/S · 2.5x5y range 1.3x – 2.5x

Currently near its 9-quarter median.

P/B · 1.5x5y range 1.1x – 1.5x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Watch

Operating margins declined 13.9% — watch for continued compression, which may signal competitive or cost pressure.

Earnings Quality

Red Flag

Free cash flow has been negative in 6 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $4.26B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.69B
Q. Revenue: $392.60M
TTM EBITDA: $577.22M
TTM Op. Income: $318.66M
Q. Op. Income: $64.25M
TTM Net Income: $171.37M
Q. Net Income: $24.99M
EPS: N/A
Shares Out.: $61.51M

$1.69B in TTM revenue grew 8.2% YoY, reaching $392.60M last quarter. TTM EBITDA of $577.22M and TTM operating income of $318.66M show growth is flowing through to the bottom line. TTM net income of $171.37M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 6 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 33.4%
Op. Margin: 16.4%
Net Margin: 6.4%

Op. margin of 16.4% is down 1.4% YoY — costs are rising relative to revenue. Net margin at 6.4% Over the past year, operating margin is down 8% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 24.9x
P/S Ratio: 2.5x
P/B Ratio: 1.5x

At 24.9x P/E, the stock trades within typical market levels. P/S of 2.5x and P/B of 1.5x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 4 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $8.70B
Cash: $4.18M
Long-Term Debt: $3.44B
Book Value: $2.90B
D/E Ratio: 1.2
Debt/EBITDA: 26.2

With $8.70B in assets and $3.44B in long-term debt, D/E is 1.2and book value is $2.90B — moderate leverage. Over the past year, debt/equity is up 13% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $73.82M
TTM Free Cash Flow: $-192.16M
FCF Margin: -11.4%
FCF / Net Income: -1.1

TTM FCF of $-192.16M on $73.82M in operating cash flow. The FCF / Net Income ratio of -1.1x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 3 consecutive quarters — a weakening trend.