NorthWestern (NWE)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from NWE's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from NorthWestern's 10-K filings. Ten years of the full income statement, balance sheet and cash flow.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.4B | $1.5B | $1.4B | $1.5B | $1.6B |
| Net income | $187M | $183M | $194M | $224M | $181M |
| Free cash flow | -$214M | -$208M | -$78M | -$143M | -$130M |
| EPS (diluted) | $3.60 | $3.25 | $3.22 | $3.65 | $2.94 |
| Operating margin | 20.1% | 17.8% | 21.1% | 21.4% | 20.2% |
Where the revenue comes from
Revenue by segments, fiscal 2023. Every breakdown, year by year.
Superinvestors who own NWE
From each investor's latest 13F filing (what a 13F shows).
Insider buying
Open-market purchases by NorthWestern's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you. Every purchase since records began.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 3, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $70.78 | — |
| Mar 3, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $70.78 | — |
| Mar 3, 2026 | Gilbert Ray Cisneros, Jr. |
0 | $70.78 | — |
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In the full deep dive
Questions
Are NorthWestern insiders buying the stock?
3 open-market insider purchases of NWE in the last 12 months, from SEC Form 4 filings.
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Prices and ratios as of Oct 11, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.