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NorthWestern Corporation logo
NorthWestern Corporation NWE
$ 85.01 1.05%
report update icon

Quarterly report 2023-Q3
added 05-16-2026

NorthWestern Corporation Financial Ratios 2022-2007 | NWE

Brief overview of NorthWestern Corporation's market valuation

Current figures are compared with the company's own five-year history for 2018–2022.

The latest available valuation ratios are P/E 44.73x (median 18.09x), EV/EBITDA 27.42x (median 17.1x), P/S 7.02x (median 2.58x). Valuation is 60.3% above five-year reference levels. The premium requires support from earnings and returns.

The 1/P/E calculation produces a 2.2% earnings yield. It does not capture future growth or capital structure.

Capital efficiency is characterized by ROE 2.5%, ROA 0.9%, ROCE 3.1%. Efficiency ratios are restrained, with capital and assets producing modest returns.

On PEG (4.37x), valuation is stretched relative to growth and requires strong execution.

A longer cycle, from 6.7 days to 190.4 days, indicates slower release of cash from operations.

Overall assessment

NorthWestern Corporation's multiples are demanding relative to current business quality. Material improvement is needed to justify them.

Annual Financial Ratios NorthWestern Corporation

2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007

P/E

 44.7 62.1 18.1 16.0 15.4 13.0 14.1 14.7 13.8 13.8 10.4 9.3 32.9 34.5 39.5 -

P/S

 7.0 9.2 2.3 2.6 2.5 1.6 1.8 1.8 1.4 1.1 1.0 0.8 2.3 2.2 2.1 -

EPS

 1.2 1.0 3.1 4.0 3.9 3.4 3.4 3.2 3.0 2.5 2.7 2.5 2.1 2.0 1.8 -

EV (Enterprise Value)

 7.63 B 7.63 B 7.11 B 7.28 B 6.72 B 5.72 B 6.14 B 5.88 B 5.14 B 3.96 B 3.56 B 3.2 B 4.75 B 4.54 B 2.66 B -12.8 M

EBITDA per Share

 4.77 5.02 8.22 8.92 8.82 9.02 8.58 8.68 7.52 7.44 7.69 7.35 7.03 6.73 6.72 -

EV/EBITDA

 27.4 28.5 17.1 16.2 15.3 13.1 14.8 14.3 17.0 14.0 12.6 12.0 18.7 18.7 10.4 -

PEG

 -4.23 -7.26 -18.26 4.37 4.21 3.76 4.22 3.28 6.02 6.54 2.92 0.71 - - - -

P/B

 1.1 1.4 1.4 1.6 1.4 1.2 1.4 1.4 1.1 1.3 1.1 1.0 3.1 3.2 - -

P/CF

 9.7 14.5 8.0 10.9 7.9 6.5 8.1 6.6 6.7 6.7 4.1 3.7 11.6 21.7 13.4 -

ROE %

 2.50 2.19 7.47 9.91 10.14 9.04 9.79 9.45 8.17 9.12 10.54 10.77 9.43 9.33 8.85 -

ROA %

 0.91 0.76 2.43 3.32 3.39 3.00 2.99 2.87 2.43 2.53 2.82 2.88 2.55 2.63 - -

ROCE %

 3.12 3.42 3.99 4.96 5.03 5.67 5.22 5.65 4.08 5.26 5.84 6.05 19.82 19.57 22.29 -

Current Ratio

 1.6 1.5 1.5 1.5 1.6 1.5 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 - -

DSO

 190.4 192.8 51.1 47.8 52.8 47.8 45.6 47.8 51.3 50.4 49.6 47.4 47.2 23.0 - -

DIO

 - - 68.5 60.1 69.1 45.2 46.7 52.3 41.7 42.3 50.0 43.9 - - - -

DPO

 - - 117.5 105.4 115.2 73.1 70.0 72.9 62.0 70.8 77.3 56.6 - - - -

Operating Cycle

 190.4 192.8 119.6 108.0 121.8 93.0 92.3 100.1 92.9 92.7 99.6 91.4 47.2 23.0 - -

Cash Conversion Cycle

 190.4 192.8 2.1 2.5 6.7 19.8 22.3 27.2 30.9 21.9 22.3 34.8 47.2 23.0 - -

All numbers in USD currency

Quarterly Financial Ratios NorthWestern Corporation

2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q3 2010-Q2

EPS

 0.48 0.32 1.05 - 0.48 0.55 1.09 0.96 0.68 0.72 1.25 1.06 0.58 0.43 1 1.19 0.43 0.94 1.45 1.32 0.56 0.88 1.18 0.98 0.75 0.45 1.17 0.91 0.92 0.74 0.79 0.94 0.51 0.66 1.09 0.87 0.77 0.2 1.17 0.67 0.41 0.37 1.01 1.58 -0.1 0.31 0.88 0.94 0.41 0.3 0.9 0.4 0.32

EBITDA per Share

 1.78 1.64 2.5 - 1.72 1.85 2.37 1.5 1.98 2.08 2.53 1.31 1.86 1.77 2.39 1.68 1.77 1.78 2.83 1.29 1.82 2.26 2.6 1.5 2.13 1.76 2.62 1.33 1.98 2.15 2.11 1.5 1.79 2.06 2.55 1.16 1.57 1.42 2.62 1.29 1.55 1.58 2.31 2.39 0.83 1.51 2.24 1.36 1.57 1.42 2.3 1.55 1.38

ROE %

 5.18 5.32 7.11 4.78 6.98 7.47 7.97 8.45 8.84 8.70 8.04 7.52 7.88 7.53 8.85 10.05 10.53 10.94 10.87 10.40 9.64 10.27 9.24 9.36 9.33 9.93 10.83 9.88 10.06 8.92 8.78 9.84 9.54 10.76 9.45 10.27 10.29 9.06 9.76 9.41 13.16 11.18 11.01 10.77 8.46 10.66 10.70 10.93 8.73 8.40 3.87 1.78 1.45

ROA %

 1.90 1.94 2.54 1.68 2.44 2.58 2.72 2.82 2.90 2.86 2.65 2.53 2.68 2.57 3.04 3.47 3.63 3.77 3.74 3.55 3.28 3.42 3.01 2.95 2.87 3.05 3.33 3.02 3.08 2.70 2.64 2.95 2.85 3.17 2.76 2.95 2.90 2.55 2.75 2.63 3.61 3.06 3.01 2.92 2.30 2.90 2.91 2.99 2.43 2.35 1.08 0.50 0.41

ROCE %

 9.20 9.29 10.94 7.37 10.79 11.37 11.96 12.44 12.22 12.16 11.63 11.45 12.40 12.30 12.54 13.77 12.95 13.15 14.37 14.10 14.86 15.91 14.82 15.19 14.93 14.77 16.13 14.98 15.68 15.46 15.58 17.31 16.21 15.89 14.21 15.28 16.71 16.97 17.87 17.08 21.76 19.13 19.06 19.47 15.68 18.99 18.93 19.58 17.93 17.47 6.91 4.09 3.34

Current Ratio

 1.6 1.6 1.6 - 1.6 1.6 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.6 1.5 1.5 1.5 1.5 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4

DSO

 42.0 57.5 22.0 - 40.2 45.2 43.1 44.4 39.6 46.9 37.7 43.9 42.0 47.6 44.0 40.9 41.9 49.8 39.4 42.9 42.0 52.3 47.1 41.3 37.3 42.8 37.5 38.1 35.3 39.0 39.7 38.2 40.2 45.8 41.2 41.4 45.5 50.9 42.7 43.5 42.8 45.6 41.8 41.1 41.1 43.7 41.1 41.0 39.9 45.5 32.8 36.1 -

DIO

 - - - - - - - - 71.4 85.1 37.2 - 87.4 85.5 53.6 - 76.0 81.3 38.8 - 62.8 128.2 45.7 - 50.1 - - - - - - - - - - - - - - - - - - - - - - - - - - - -

DPO

 - - - - - - - - 82.9 114.0 57.0 - 96.6 101.6 81.6 - 89.1 114.9 66.5 - 74.9 157.8 66.5 - 55.3 - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Operating Cycle

 - - - - - - 43.1 44.4 111.0 132.0 74.9 49.0 142.1 142.5 99.2 46.5 132.2 144.7 80.5 48.0 117.1 200.6 95.1 48.3 102.7 58.6 42.5 44.0 48.4 49.7 43.1 43.4 51.7 52.1 41.9 47.7 59.2 55.2 41.8 50.0 60.9 61.4 46.4 46.7 55.6 53.6 42.9 47.4 55.0 53.3 - - -

Cash Conversion Cycle

 - - - - - - 43.1 44.4 28.0 18.0 17.9 49.0 45.5 41.0 17.7 46.5 -5.2 -13.6 8.0 48.0 7.2 -46.1 13.3 48.3 23.0 58.6 42.5 44.0 48.4 49.7 43.1 43.4 51.7 52.1 41.9 47.7 59.2 55.2 41.8 50.0 60.9 61.4 46.4 46.7 55.6 53.6 42.9 47.4 55.0 53.3 - - -

All numbers in USD currency

Multiples are an important financial analysis tool for the company NorthWestern Corporation, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.

Advantages of Using Financial Ratios
  • Simplified Data Analysis
    Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition.
  • Comparability Between Companies
    Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations.
  • Identification of Trends and Issues
    Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks.
  • Decision Support
    Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions.
  • Accelerated Assessment of Investment Attractiveness
    Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.

Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.

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