NorthWestern Energy Group Inc (NWE) financial statements: income statement, balance sheet and cash flow
NorthWestern Energy Group Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), NorthWestern Energy Group Inc reported revenue of $1.6B (+6.4% year on year) and net income of $181.1M (-19.2% year on year).
Income statement
NorthWestern Energy Group Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Electric
$1.3B
$1.2B
$1.1B
Gas
$340.6M
$313.2M
$353.3M
Total Revenues
$1.6B
$1.5B
$1.4B
Utilities Operating Expense, Fuel Used
$409.8M
$433.8M
$420.3M
Operating and maintenance
$284.9M
$227.8M
$220.5M
Administrative and general
$158.2M
$137.4M
$117.4M
Property and other taxes
$182.3M
$163.9M
$153.1M
Depreciation and depletion
$249.5M
$227.6M
$210.5M
Total Operating Expenses
$1.3B
$1.2B
$1.1B
Operating Income
$325.8M
$323.3M
$300.5M
Interest Expense, net
($150.4M)
($131.7M)
($114.6M)
Other Income, net
$12.1M
$23.0M
$15.8M
Income Before Income Taxes
$187.6M
$214.7M
$201.7M
Income Tax (Expense) Benefit
($6.5M)
$9.4M
($7.5M)
Net Income
$181.1M
$224.1M
$194.1M
Average Common Shares Outstanding
61.4M
61.3M
60.3M
Basic Earnings per Average Common Share
$2.95
$3.66
$3.22
Diluted Earnings per Average Common Share
$2.94
$3.65
$3.22
NorthWestern Energy Group Inc income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Electric
$324.3M
$362.1M
$339.8M
$279.5M
Gas
$68.3M
$135.5M
$47.2M
$63.2M
Total Revenues
$392.6M
$497.6M
$387.0M
$342.7M
Fuel, purchased supply and direct transmission expense (exclusive of depreciation and depletion shown separately below)
$89.8M
$145.6M
$86.9M
$75.3M
Operating, general, and administrative
$79.1M
$74.5M
$64.1M
$62.3M
Administrative and general
$42.4M
$46.1M
$46.7M
$33.8M
Property and other taxes
$50.1M
$50.4M
$46.1M
$48.2M
Depreciation and depletion
$67.0M
$66.8M
$62.8M
$62.4M
Total Operating Expenses
$328.4M
$383.5M
$306.7M
$281.9M
Operating income
$64.2M
$114.1M
$80.3M
$60.8M
Interest expense, net
($40.3M)
($39.9M)
($38.4M)
($36.3M)
Other income, net
$4.5M
$3.1M
$5.1M
$78.0K
Income before income taxes
$28.5M
$77.3M
$47.0M
$24.6M
Income tax expense
($3.5M)
($13.8M)
($8.8M)
($3.4M)
Net Income
$25.0M
$63.5M
$38.2M
$21.2M
Average Common Shares Outstanding
61.5M
61.5M
61.4M
61.4M
Basic Earnings per Average Common Share
$0.41
$1.03
$0.62
$0.35
Diluted Earnings per Average Common Share
$0.40
$1.03
$0.62
$0.35
Dividends Declared per Common Share
$0.67
$0.67
$0.66
$0.66
Balance sheet
NorthWestern Energy Group Inc balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Cash and cash equivalents
$8.8M
$4.3M
$9.2M
Restricted cash
$22.0M
$24.7M
$16.0M
Accounts receivable, net
$209.8M
$187.8M
$212.3M
Inventories
$132.5M
$122.9M
$114.5M
Regulatory assets
$92.9M
$39.9M
$29.6M
Prepaid expenses and other
$38.0M
$38.6M
$25.4M
Total current assets
$503.9M
$418.2M
$407.0M
Property, plant, and equipment, net
$6.7B
$6.4B
$6.0B
Goodwill
$367.6M
$357.6M
$357.6M
Regulatory assets
$772.6M
$764.4M
$743.9M
Other noncurrent assets
$76.6M
$59.1M
$52.3M
Total Assets
$8.5B
$8.0B
$7.6B
Current maturities of finance leases
$1.9M
$3.6M
$3.3M
Long-term Debt, Current Maturities
$105.0M
$299.9M
—
Short-Term Debt
$150.0M
$100.0M
$100.0M
Accounts payable
$129.6M
$111.8M
$124.3M
Accrued expenses and other
$272.4M
$254.6M
$246.2M
Regulatory liabilities
$38.6M
$32.3M
$61.1M
Total current liabilities
$697.5M
$802.2M
$534.9M
Long-term finance leases
$0
$1.9M
$5.5M
Long-term debt
$3.2B
$2.7B
$2.7B
Deferred income taxes
$733.1M
$663.4M
$600.5M
Noncurrent regulatory liabilities
$678.9M
$660.9M
$657.5M
Other noncurrent liabilities
$283.5M
$316.0M
$332.4M
Total Liabilities
$5.6B
$5.1B
$4.8B
Common Stock, Value, Issued
$649.0K
$648.0K
$648.0K
Treasury stock at cost
($97.5M)
($97.4M)
($97.9M)
Paid-in capital
$2.1B
$2.1B
$2.1B
Retained earnings
$896.7M
$877.0M
$811.5M
Accumulated other comprehensive loss
($6.1M)
($6.7M)
($7.7M)
Total Shareholders' Equity
$2.9B
$2.9B
$2.8B
Common stock, par or stated value per share
$0.01
$0.01
$0.01
Common stock, shares authorized
200.0M
200.0M
200.0M
Common Stock, shares issued
64.9M
64.8M
64.8M
Common Stock, shares outstanding
61.4M
61.3M
61.2M
Preferred stock, par or stated value per share
$0.01
$0.01
$0.01
Preferred stock, shares authorized
50.0M
50.0M
50.0M
Preferred Stock, shares issued
0
0
0
Total Liabilities and Shareholders' Equity
$8.5B
$8.0B
$7.6B
NorthWestern Energy Group Inc balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$4.2M
$5.9M
$6.2M
$2.9M
Restricted cash
$20.9M
$21.7M
$24.3M
$23.6M
Accounts receivable, net
$168.8M
$199.3M
$159.1M
$154.9M
Inventories
$146.0M
$134.1M
$135.0M
$125.4M
Regulatory assets
$105.5M
$103.2M
$73.4M
$67.5M
Prepaid expenses and other
$36.3M
$49.0M
$46.0M
$28.7M
Total current assets
$481.6M
$513.2M
$443.9M
$403.1M
Property, plant, and equipment, net
$6.9B
$6.8B
$6.7B
$6.5B
Goodwill
$367.6M
$367.6M
$367.9M
$357.6M
Regulatory assets
$778.8M
$773.6M
$756.8M
$779.0M
Other noncurrent assets
$173.5M
$134.1M
$68.6M
$64.8M
Total Assets
$8.7B
$8.6B
$8.3B
$8.1B
Current maturities of finance leases
$1.7M
$1.8M
$2.8M
$3.7M
Current portion of long-term debt
$45.0M
$105.0M
$105.0M
$60.0M
Short-Term Debt
$100.0M
$150.0M
$150.0M
$100.0M
Accounts payable
$114.8M
$121.8M
$93.5M
$93.7M
Accrued expenses and other
$294.9M
$321.1M
$304.0M
$251.9M
Regulatory liabilities
$26.6M
$31.2M
$29.3M
$28.1M
Total current liabilities
$583.0M
$730.9M
$684.6M
$537.4M
Long-term finance leases
$7.7M
$8.4M
$0
$0
Long-term debt
$3.4B
$3.2B
$3.0B
$3.0B
Deferred income taxes
$761.1M
$750.7M
$720.8M
$702.9M
Noncurrent regulatory liabilities
$692.0M
$684.7M
$682.0M
$674.4M
Other noncurrent liabilities
$322.3M
$321.4M
$287.1M
$311.9M
Total Liabilities
$5.8B
$5.7B
$5.4B
$5.3B
Common Stock, Value, Issued
$650.0K
$650.0K
$649.0K
$649.0K
Treasury stock at cost
($99.0M)
($99.2M)
($97.5M)
($97.7M)
Paid-in capital
$2.1B
$2.1B
$2.1B
$2.1B
Retained earnings
$903.1M
$919.1M
$892.4M
$894.5M
Accumulated other comprehensive loss
($5.8M)
($5.9M)
($6.4M)
($6.5M)
Total Shareholders' Equity
$2.9B
$2.9B
$2.9B
$2.9B
Total Liabilities and Shareholders' Equity
$8.7B
$8.6B
$8.3B
$8.1B
Preferred Stock, Shares Issued
0
0
0
0
Common Stock, Par or Stated Value Per Share
$0.01
$0.01
$0.01
$0.01
Common Stock, Shares Authorized
200.0M
200.0M
200.0M
200.0M
Common Stock, Shares, Issued
65.0M
65.0M
64.9M
64.9M
Common Stock, Shares, Outstanding
61.5M
61.5M
61.4M
61.4M
Preferred Stock, Par or Stated Value Per Share
$0.01
$0.01
$0.01
$0.01
Preferred Stock, Shares Authorized
50.0M
50.0M
50.0M
50.0M
Preferred Stock, Shares Outstanding
0
0
0
0
Cash flow statement
NorthWestern Energy Group Inc cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Net Income
$181.1M
$224.1M
$194.1M
Depreciation and depletion
$249.5M
$227.6M
$210.5M
Amortization of debt issuance costs, discount and deferred hedge gain
$4.4M
$4.6M
$5.1M
Stock-based compensation costs
$7.0M
$4.7M
$5.2M
Equity portion of AFUDC
($9.9M)
($18.6M)
($17.6M)
(Gain) loss on disposition of assets
($82.0K)
($61.0K)
$316.0K
Impairment, Long-Lived Asset, Held-for-Use
$30.9M
—
—
Deferred income taxes
$7.1M
($9.0M)
$6.6M
Accounts receivable
($20.5M)
$24.5M
$32.7M
Inventories
($6.2M)
($8.4M)
($7.2M)
Other current assets
$632.0K
($13.2M)
$2.6M
Accounts payable
($4.4M)
$7.4M
($54.7M)
Accrued expenses
$16.4M
$9.7M
($3.4M)
Regulatory assets
($53.7M)
($10.1M)
$105.6M
Regulatory liabilities
$6.4M
($28.8M)
$40.0M
Other noncurrent assets and liabilities
($14.2M)
($11.9M)
($30.6M)
Cash Provided by Operating Activities
$394.5M
$406.7M
$489.2M
Property, plant, and equipment additions
($524.5M)
($549.2M)
($566.9M)
Investment in equity securities
($10.2M)
($4.7M)
($3.9M)
Payment for (Proceeds from) Other Investing Activity
$0
($500.0K)
—
Cash Used in Investing Activities
($570.6M)
($554.5M)
($570.8M)
Dividends on common stock
($161.4M)
($158.6M)
($154.1M)
Proceeds from issuance of common stock, net
$0
$0
$73.6M
Issuance of long-term debt
$602.1M
$215.0M
$300.0M
Payment for Debt Extinguishment or Debt Prepayment Cost
($300.0M)
($100.0M)
$0
Line of credit (repayments) borrowings , net
($9.0M)
$95.0M
($132.0M)
Issuances of short-term borrowings
$50.0M
$100.0M
$0
Treasury stock activity
$709.0K
$1.2M
$1.1M
Financing costs
($4.5M)
($1.1M)
($4.3M)
Cash Provided by Financing Activities
$177.9M
$151.6M
$84.3M
Net Increase in Cash, Cash Equivalents, and Restricted Cash
$1.7M
$3.8M
$2.7M
Cash, Cash Equivalents, and Restricted Cash, beginning of period
$29.0M
$25.2M
$22.5M
Cash, Cash Equivalents, and Restricted Cash, end of period
$30.7M
$29.0M
$25.2M
Other Noncash Expense
$0
$4.2M
—
Payments to Acquire Businesses, Gross
($35.9M)
—
—
NorthWestern Energy Group Inc cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net Income
$88.5M
$63.5M
$136.4M
$98.2M
Depreciation and depletion
$133.8M
$66.8M
$187.6M
$124.8M
Amortization of debt issuance costs, premium, and deferred hedge gain
$1.9M
$975.0K
$3.4M
$2.3M
Stock-based compensation costs
$4.1M
$2.0M
$6.1M
$4.2M
Equity portion of allowance for funds used during construction
($4.6M)
($1.9M)
($7.0M)
($4.1M)
Deferred income taxes
$14.4M
$14.1M
$23.7M
$16.7M
Increase (Decrease) in Other Operating Assets and Liabilities, Net
$41.0K
—
—
—
Accounts receivable
$41.0M
$10.5M
$30.2M
$32.8M
Inventories
($13.5M)
($1.6M)
($8.7M)
($2.5M)
Other current assets
($5.4M)
($11.0M)
($7.4M)
$9.9M
Accounts payable
($7.8M)
($8.0M)
($25.4M)
($27.7M)
Accrued expenses and other
$22.6M
$48.7M
$47.9M
($2.9M)
Regulatory assets
($12.5M)
($10.3M)
($34.0M)
($27.7M)
Regulatory liabilities
($12.0M)
($7.4M)
($4.2M)
($4.2M)
Other noncurrent assets and liabilities
($17.2M)
($7.1M)
($10.2M)
($8.6M)
Cash Provided by Operating Activities
$233.2M
$159.4M
$338.3M
$211.6M
Property, plant, and equipment additions
($304.8M)
($116.1M)
($374.5M)
($221.0M)
Investment in debt & equity securities
($1.1M)
$0
($8.1M)
($5.8M)
Cash Used in Investing Activities
($305.8M)
($116.1M)
($418.6M)
($226.8M)
Dividends on common stock
($82.1M)
($41.0M)
($121.0M)
($80.7M)
Issuance of long-term debt
$375.0M
$0
$500.0M
$500.0M
Repayment of short-term borrowings
($50.0M)
—
—
—
Repayments on long-term debt
($60.0M)
—
($300.0M)
($300.0M)
Line of credit repayments, net
($114.0M)
($4.0M)
($44.0M)
($103.0M)
Other financing activities, net
($1.9M)
($1.4M)
($3.2M)
($3.7M)
Cash Provided by Financing Activities
$67.0M
($46.5M)
$81.7M
$12.7M
Decrease in Cash, Cash Equivalents, and Restricted Cash