NorthWestern Energy Group, Inc. (NWE) FY2025 10-K Annual Report
NorthWestern Energy Group, Inc. (NWE) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 12, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
NorthWestern Energy Group, Inc. FY2025 10-K Analysis
Business Overview
- • Core business model: Regulated energy services focused on electric and natural gas utility operations
- • Proxy statement incorporated by reference contains executive compensation, ownership, and related transactions info
Management Discussion & Analysis
- • Revenue: Electric base rates increase $105.5M, natural gas base rates $18.0M; net income down $43.0M to $181.1M from $224.1M in 2024
- • Profitability: Income before taxes decreased to $187.6M from $214.7M; Income tax expense $-6.5M vs $9.4M benefit prior year
Risk Factors
- • Regulatory disallowance of $30.9M capital costs by MPSC in 2025 for YCGS construction deemed imprudent
- • Montana District Court vacated YCGS air quality permit in 2023 causing a 3-month construction delay and increased costs
NorthWestern Energy Group, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$1.6B
▲ +6.4% YoY
Net Income
$181M
▼ -19.2% YoY
Operating Margin
20.2%
▼ -113bp YoY
Net Margin
11.2%
▼ -356bp YoY
ROE
6.3%
▼ -157bp YoY
Total Assets
$8.5B
▲ +5.8% YoY
EPS (Diluted)
$2.94
▼ -19.5% YoY
Operating Cash Flow
$394M
▼ -3.0% YoY
Source: XBRL data from NorthWestern Energy Group, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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