Northwestern Energy Group (NWE) Debt/Equity Ratio: History & Chart

Northwestern Energy Group Inc(NWE)

Regulated Electric · Sioux Falls, SD

$69.10+0.33 (+0.49%)

Delayed quote: Oct 6, 2026, 2:40 PM EDT

About Northwestern Energy Group Inc

NorthWestern Corporation, which conducts business under the name NorthWestern Energy, supplies electricity and natural gas to residential, commercial, and diverse industrial clients. The company organizes its operations into two primary divisions: Electric and Natural Gas. In its Electric segment, NorthWestern Energy is responsible for generating, procuring, transmitting, and distributing electrical power. For its Natural Gas segment, the firm undertakes the production, purchase, storage, transmission, and delivery of natural gas, additionally holding local government authorizations to provide gas services in various communities. The company's extensive infrastructure in Montana encompasses 6,819 miles of electric transmission lines, 18,177 miles of electric distribution lines, and roughly 400 transmission and distribution substations. Its natural gas network in Montana features 2,166 miles of transmission lines, 4,945 miles of distribution lines, and approximately 138 city gate stations. Furthermore, in South Dakota, NorthWestern Energy manages 1,308 miles of electric transmission and 2,320 miles of electric distribution lines. Its natural gas facilities in South Dakota include 55 miles of transmission lines, while a combined 2,517 miles of natural gas distribution lines serve both South Dakota and Nebraska. Collectively, NorthWestern Energy caters to approximately 753,600 customers situated across Montana, South Dakota, Nebraska, and Yellowstone National Park. The corporation was founded in 1923 and is based in Sioux Falls, South Dakota.

Sioux Falls, SD

1,667 employees

www.northwesternenergy.com

Utilities / Regulated Electric

Sector: Utilities
Industry: Regulated Electric
CEO: Brian Bird

View full financials

NWE Debt to Equity Ratio Metrics

DEBT TO EQUITY RATIO

1.24

DEBT TO EQUITY RATIO AVG TTM

1.16

DEBT TO EQUITY RATIO AVG 3Y

1.08

DEBT TO EQUITY RATIO AVG 5Y

1.07

DEBT TO EQUITY RATIO AVG 10Y

1.11

DEBT TO EQUITY RATIO AVG 15Y

1.15

DEBT TO EQUITY RATIO AVG 20Y

1.14

CURRENT VS TTM AVG

+6.75%

CURRENT VS 3Y AVG

+15.13%

CURRENT VS 5Y AVG

+16.27%

CURRENT VS 10Y AVG

+12.16%

CURRENT VS 15Y AVG

+7.75%

CURRENT VS 20Y AVG

+8.50%

SECTOR MEDIAN · UTILITIES

1.61

median of 66 covered companies

CURRENT VS SECTOR MEDIAN

-22.84%

vs the sector median at left

NAME	MARKET CAP	DEBT TO EQUITY RATIO	TTM	3Y	5Y
Northwestern Energy Group Inc (NWE)	$4.25B	1.24	1.16	1.08	1.07
Fervo Energy Company (FRVO)vs ›	$4.04B	0.12	N/A	N/A	N/A
SOLV Energy, Inc. Class A Common Stock (MWH)vs ›	$3.25B	0.17	1.04	1.04	1.04
Black Hills Corporation (BKH)vs ›	$5.40B	1.14	1.24	1.35	1.42
Avista Corporation (AVA)vs ›	$2.94B	1.17	1.23	1.23	1.22
MGE Energy, Inc. (MGEE)vs ›	$2.66B	0.62	0.68	0.68	0.66
ReNew Energy Global Plc (RNW)vs ›	$2.50B	6.15	6.35	5.99	5.57
H2O America (HTO)vs ›	$2.43B	1.03	1.31	1.38	1.46
newcleo plc Ordinary Shares (NWCL)vs ›	$2.31B	N/A	N/A	N/A	N/A
Clearway Energy, Inc. (CWEN)vs ›	$6.23B	1.81	4.53	4.12	4.17

NAME

MARKET CAP

DEBT TO EQUITY RATIO

TTM

Northwestern Energy Group Inc (NWE)

$4.25B

1.24

1.16

1.08

1.07

Fervo Energy Company (FRVO)vs ›

$4.04B

0.12

N/A

SOLV Energy, Inc. Class A Common Stock (MWH)vs ›

$3.25B

0.17

1.04

Black Hills Corporation (BKH)vs ›

$5.40B

1.14

1.24

1.35

1.42

Avista Corporation (AVA)vs ›

$2.94B

1.17

1.23

1.22

MGE Energy, Inc. (MGEE)vs ›

$2.66B

0.62

0.68

0.66

ReNew Energy Global Plc (RNW)vs ›

$2.50B

6.15

6.35

5.99

5.57

H2O America (HTO)vs ›

$2.43B

1.03

1.31

1.38

1.46

newcleo plc Ordinary Shares (NWCL)vs ›

$2.31B

N/A

Clearway Energy, Inc. (CWEN)vs ›

$6.23B

1.81

4.53

4.12

4.17

Debt to Equity Ratio FAQ

What is the debt to equity ratio for Northwestern Energy Group Inc (NWE)?

The debt to equity ratio for NWE stock is 1.24.

Is Northwestern Energy Group Inc's debt to equity ratio high or low?

The debt to equity ratio of 1.24 is 16% above its 5-year average of 1.07, near the high end of its 5-year range (0.96–1.24).

What is the TTM average debt to equity ratio for Northwestern Energy Group Inc (NWE)?

The TTM average debt to equity ratio for NWE stock is 1.16.

What is the 3Y average debt to equity ratio for Northwestern Energy Group Inc (NWE)?

The 3Y average debt to equity ratio for NWE stock is 1.08.

What is the 5Y average debt to equity ratio for Northwestern Energy Group Inc (NWE)?

The 5Y average debt to equity ratio for NWE stock is 1.07.

What is the 10Y average debt to equity ratio for Northwestern Energy Group Inc (NWE)?

The 10Y average debt to equity ratio for NWE stock is 1.11.

What is the 15Y average debt to equity ratio for Northwestern Energy Group Inc (NWE)?

The 15Y average debt to equity ratio for NWE stock is 1.15.

What is the 20Y average debt to equity ratio for Northwestern Energy Group Inc (NWE)?

The 20Y average debt to equity ratio for NWE stock is 1.14.

DATE	DEBT TO EQUITY RATIO
2026-06-30	1.24
2026-03-31	1.13
2025-12-31	1.19
2025-09-30	1.15
2025-06-30	1.11
2025-03-31	1.08
2024-12-31	1.09
2024-09-30	1.06
2024-06-30	1.03
2024-03-31	0.99
2023-12-31	1.00
2023-09-30	0.97
2023-06-30	0.99
2023-03-31	0.96
2022-12-31	0.99
2022-09-30	1.01
2022-06-30	1.03
2022-03-31	1.07
2021-12-31	1.09
2021-09-30	1.10
2021-06-30	1.16
2021-03-31	1.17
2020-12-31	1.17
2020-09-30	1.12
2020-06-30	1.11
2020-03-31	1.10
2019-12-31	1.10
2019-09-30	1.10
2019-06-30	1.08
2019-03-31	1.06
2018-12-31	1.09
2018-09-30	1.07
2018-06-30	1.07
2018-03-31	1.11
2017-12-31	1.19
2017-09-30	1.21
2017-06-30	1.24
2017-03-31	1.20
2016-12-31	1.27
2016-09-30	1.24
2016-06-30	1.26
2016-03-31	1.21
2015-12-31	1.27
2015-09-30	1.34
2015-06-30	1.29
2015-03-31	1.26
2014-12-31	1.33
2014-09-30	1.28
2014-06-30	1.27
2014-03-31	1.18
2013-12-31	1.29
2013-09-30	1.18
2013-06-30	1.15
2013-03-31	1.16
2012-12-31	1.30
2012-09-30	1.22
2012-06-30	1.19
2012-03-31	1.20
2011-12-31	1.29
2011-09-30	1.26
2011-06-30	1.24
2011-03-31	1.23
2010-12-31	1.35
2010-09-30	1.31
2010-06-30	1.29
2010-03-31	1.23
2009-12-31	1.30
2009-09-30	1.20
2009-06-30	1.18
2009-03-31	1.21
2008-12-31	1.18
2008-09-30	1.15
2008-06-30	0.97
2008-03-31	0.98
2007-12-31	1.03
2007-09-30	0.93
2007-06-30	0.97
2007-03-31	0.96
2006-12-31	1.01
2006-09-30	1.00
2006-06-30	0.95
2006-03-31	0.92
2005-12-31	1.01
2005-09-30	1.03
2005-06-30	1.13
2005-03-31	1.14
2004-12-31	1.18
2004-09-30	-1.51
2004-06-30	-1.59
2004-03-31	-1.61
2003-12-31	-1.57
2003-09-30	-1.65
2003-06-30	-3.55
2003-03-31	-4.14
2002-12-31	-3.86
2002-09-30	5.90

DATE

DEBT TO EQUITY RATIO

2026-06-30

1.24

2026-03-31

1.13

2025-12-31

1.19

2025-09-30

1.15

2025-06-30

1.11

2025-03-31

1.08

2024-12-31

1.09

2024-09-30

1.06

2024-06-30

1.03

2024-03-31

0.99

2023-12-31

1.00

2023-09-30

0.97

2023-06-30

0.99

2023-03-31

0.96

2022-12-31

0.99

2022-09-30

1.01

2022-06-30

1.03

2022-03-31

1.07

2021-12-31

1.09

2021-09-30

1.10

2021-06-30

1.16

2021-03-31

1.17

2020-12-31

1.17

2020-09-30

1.12

2020-06-30

1.11

2020-03-31

1.10

2019-12-31

1.10

2019-09-30

1.10

2019-06-30

1.08

2019-03-31

1.06

2018-12-31

1.09

2018-09-30

1.07

2018-06-30

1.07

2018-03-31

1.11

2017-12-31

1.19

2017-09-30

1.21

2017-06-30

1.24

2017-03-31

1.20

2016-12-31

1.27

2016-09-30

1.24

2016-06-30

1.26

2016-03-31

1.21

2015-12-31

1.27

2015-09-30

1.34

2015-06-30

1.29

2015-03-31

1.26

2014-12-31

1.33

2014-09-30

1.28

2014-06-30

1.27

2014-03-31

1.18

2013-12-31

1.29

2013-09-30

1.18

2013-06-30

1.15

2013-03-31

1.16

2012-12-31

1.30

2012-09-30

1.22

2012-06-30

1.19

2012-03-31

1.20

2011-12-31

1.29

2011-09-30

1.26

2011-06-30

1.24

2011-03-31

1.23

2010-12-31

1.35

2010-09-30

1.31

2010-06-30

1.29

2010-03-31

1.23

2009-12-31

1.30

2009-09-30

1.20

2009-06-30

1.18

2009-03-31

1.21

2008-12-31

1.18

2008-09-30

1.15

2008-06-30

0.97

2008-03-31

0.98

2007-12-31

1.03

2007-09-30

0.93

2007-06-30

0.97

2007-03-31

0.96

2006-12-31

1.01

2006-09-30

1.00

2006-06-30

0.95

2006-03-31

0.92

2005-12-31

1.01

2005-09-30

1.03

2005-06-30

1.13

2005-03-31

1.14

2004-12-31

1.18

2004-09-30

-1.51

2004-06-30

-1.59

2004-03-31

-1.61

2003-12-31

-1.57

2003-09-30

-1.65

2003-06-30

-3.55

2003-03-31

-4.14

2002-12-31

-3.86

2002-09-30

5.90

Debt to Equity Ratio: 1.24

NWE Debt to Equity Ratio

NWE Average Debt to Equity Ratio Chart

NWE Current vs Average Debt to Equity Ratio Chart

NWE Debt to Equity Ratio Metrics

NWE Competitors' Debt to Equity Ratio

Financial Health

Debt to Equity Ratio Formula & Definition

Debt to Equity Ratio FAQ

NWE Debt to Equity Ratio History

Related Metrics