NWE NorthWestern Energy Group, Inc.

FY2025 10-K
Filed: Feb 12, 2026
Utilities
Electric & Other Services CombinedSEC EDGAR

NorthWestern Energy Group, Inc. (NWE) filed its fiscal year 2025 10-K annual report with the SEC on Feb 12, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.

AI Filing Analysis
FY2025 10-K

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
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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
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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
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Financial Summary
XBRL

Revenue

$1.6B

Net Income

$181M

Operating Margin

20.2%

Net Margin

11.2%

ROE

6.3%

Total Assets

$8.5B

EPS (Diluted)

$2.94

Operating Cash Flow

$394M

Source: XBRL data from NorthWestern Energy Group, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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