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Companies / Utilities / NorthWestern Energy Group, Inc.
NWE

NorthWestern Energy Group, Inc.

UtilitiesElectric, Gas & Water
Ticker NWESIOUX FALLS, SDFiscal year ends DecemberBook value per share $46.92Diluted shares 61.7M

NorthWestern Energy Group, Inc. (Nasdaq: NWE) is a regulated utility providing electricity and natural gas to approximately 850,300 customers in Montana, South Dakota, Nebraska and Yellowstone National Park. Its electric operations generate, purchase, transmit and distribute power, while its natural gas operations… From the company’s description.

In fiscal 2025, NorthWestern Energy Group, Inc. reported revenue of $1.61B, up 6.4% from fiscal 2024, and net income of $181.09M. Its operating margin was 20.2%, and operations generated $394.45M in cash. Over the twelve months to Jun 30, 2026, revenue was $1.69B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$1.61BFY2025
+6.4% year over year
Last 12 mo $1.69B
20.23%FY2025
−1.1 percentage points
Last 12 mo 18.84%
$181.09MFY2025
−19.2% year over year
Last 12 mo $171.37M
6.28%FY2025
−1.6 percentage points
Last 12 mo 5.92%
Cash & financing
$394.45MFY2025
−3.0% year over year
Last 12 mo $416.09M
$-130.00MFY2025
+8.8% year over year
Last 12 mo $-192.16M
1.19FY2025
Was 1.09× a year earlier
Last 12 mo 1.24
61.5MFY2025
+0.3% year over year
Last 12 mo 61.7M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What NorthWestern Energy Group, Inc. does

In the company’s own words

NorthWestern Energy Group, Inc. (Nasdaq: NWE) is a regulated utility providing electricity and natural gas to approximately 850,300 customers in Montana, South Dakota, Nebraska and Yellowstone National Park. Its electric operations generate, purchase, transmit and distribute power, while its natural gas operations produce, purchase, transmit, store and distribute gas. Customers include residential households, commercial businesses and industrial users. The company operates through two principal segments, electric utility operations and natural gas utility operations, and delivers service through subsidiaries NorthWestern Corporation and NorthWestern Energy Public Service Corporation. In Montana, its electric system serves about 440,700 customers, and its natural gas service reaches about 249,400; it also serves electric and gas customers in South Dakota and Nebraska. Its generation resources include hydroelectric, wind, coal and natural gas facilities, alongside purchased power and contracted supply. NorthWestern Energy Group entered into an agreement in 2025 for an all-stock merger with Black Hills Corporation; the proposed combined parent is to be named Bright Horizon Energy upon completion. Its website is https://www.northwesternenergy.com.

Company details
Sector
Utilities
Industry (SIC)
Electric, Gas & Water
Headquarters
SIOUX FALLS, SD
Fiscal year end
December
CIK
1993004
SIC
4931

Financial performance, year by year

Fiscal 2023–2025 · USD
$-169.14M$338.28M$845.69M$1.35B$1.86B202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns NorthWestern Energy Group, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

349
funds hold it
0 of 35
superinvestors hold it
$2.01B
held by funds, at market
45.8%
of shares held by funds
1
bond issues held by funds

Largest fund holders · NorthWestern Energy Group, Inc.’s weight in each

iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.12%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.14%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.05%of fund net assets
Franklin Utilities Fund
FKUTX · Franklin Custodian Funds
1.31%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

NorthWestern Energy Group, Inc.’s bonds, as funds hold them

Funds report holding 1 issues of NorthWestern Energy Group, Inc.’s debt, $0.03M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 4.18%, maturing 2044 to 2044.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do NorthWestern Energy Group, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of NorthWestern Energy Group, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
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