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Friday 6 November 2026 Export NWE’s income statement to Excel — free account

NorthWestern Corporation

NWE Utilities Utilities Regulated Electric

NorthWestern Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.6 billion, up 6.38% from fiscal 2024.

Revenue
+9.51%
EPS
−19.4%
Free cash flow
−5.54%
Total debt
+13.3%

Quarter to September 2026, against a year earlier

81.89 0.11 −0.13%
Market cap
$5.1B
P/E
30.8×
Fwd P/E
23.6×
Dividend yield
3.26%
F-score
6/9
Altman Z
0.86
Beneish M
−2.57
Dividend safety
31/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

NorthWestern Corporation (NWE) EV/EBITDA

Alert me on EV/EBITDA

As of 5 November 2026, NorthWestern Corporation (NWE) trades at a EV/EBITDA of 14.8×. Over the past ten years it has ranged from 9.6× (February 2018) to 14.8× (November 2026); the current reading is higher than 100% of that period. That is above the Utilities Regulated Electric industry median of 12.4× and above the Utilities sector median of 12.3×.

EV/EBITDA, daily

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Annual newest first

Period EV/EBITDA Change
FY2025 12.4× 10.75%
FY2024 11.2× (0.86%)
FY2023 11.3× (11.54%)
FY2022 12.8× 9.29%
FY2021 11.7× (8.01%)
FY2020 12.7× (1.09%)
FY2019 12.9× 13.01%
FY2018 11.4× 8.90%
FY2017 10.5× (4.07%)
FY2016 10.9× 3.75%

Quarterly newest first

Period EV/EBITDA Change
Sep 2026 13.4× (1.05%)
Jun 2026 13.5× 6.22%
Mar 2026 12.8× 2.47%
Dec 2025 12.4× 12.42%
43 more quarters

Against its own ten years

Low 9.6× High 14.8×
Ten-year median 11.7×
Current reading's percentile 100

EV/EBITDA against peers

Company EV/EBITDA
KEP Korea Electric Power Corporation compare 3.6×
CIG Comp En De Mn Cemig ADS compare 5.6×
PNW Pinnacle West Capital Corporation compare 8.6×
POR Portland General Electric Company compare 9.7×
TXNM TXNM Energy, Inc. compare 11.2×
OGE OGE Energy Corporation compare 11.4×
MGEE MGE Energy Inc. compare 13.3×
NWE NorthWestern Corporation 14.8×
IDA IDACORP, Inc. compare 17.0×
Utilities Regulated Electric industry median 12.4×
Utilities sector median 12.3×
Market median 10.9×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

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