Northwestern Energy Group Inc (NWE) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-124.1%

-$19.33

vs $80.29 price

Levered DCF

-$63.69

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

0.96

Distress zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	21.88×	14.61×	15.89×	18.09×	15.83×	18.99×	17.87×	15.09×
P/B	1.37×	1.15×	1.11×	1.24×	1.26×	1.42×	1.77×	1.53×
P/S	2.46×	2.16×	2.17×	2.24×	2.15×	2.46×	2.87×	2.49×
EV / EBITDA	12.58×	11.09×	11.16×	12.42×	11.69×	12.78×	13.26×	11.44×
Gross margin	82.3%	85.0%	54.9%	51.7%	69.0%	74.5%	58.1%	77.1%
Operating margin	20.2%	21.4%	21.1%	17.8%	20.1%	19.7%	22.0%	22.3%
Net margin	11.2%	14.8%	13.7%	12.4%	13.6%	12.9%	16.1%	16.5%
Current ratio	0.72×	0.52×	0.76×	0.87×	1.15×	0.66×	0.9×	0.8×
Debt / equity	1.19×	1.09×	1×	0.99×	1.09×	1.17×	1.1×	1.09×
Interest coverage	2.17×	2.46×	2.62×	2.63×	2.94×	2.44×	2.91×	2.89×
Dividend yield	4.1%	4.8%	5.0%	4.2%	4.3%	4.1%	3.2%	3.7%
Payout ratio	89.1%	70.8%	79.4%	76.5%	68.8%	77.5%	57.0%	55.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.3%	7.8%	7.0%	6.9%	8.0%	7.5%	9.9%	10.1%
Return on invested capital	3.9%	4.3%	4.0%	3.8%	4.2%	3.9%	4.8%	5.0%
Return on assets	2.1%	2.8%	2.6%	2.5%	2.8%	2.4%	3.3%	3.5%
Free cash flow yield	-3.3%	-4.3%	-2.5%	-6.3%	-7.3%	-1.8%	-0.5%	3.3%
Earnings yield	4.6%	6.8%	6.3%	5.5%	6.3%	5.3%	5.6%	6.6%
Enterprise value	$7.4B	$6.4B	$5.9B	$5.9B	$5.5B	$5.4B	$5.9B	$5.1B
Net debt / EBITDA	5.84×	5.39×	5.29×	5.49×	5.42×	5.77×	5.08×	4.76×
Cash conversion cycle (days)	51	63	49	12	23	4	19	1