NorthWestern Energy Valuation Multiples

NorthWestern Energy Overview

About NorthWestern Energy

NorthWestern Energy Group Inc provides electricity and natural gas services in the Upper Midwest and Northwest of the U.S. in the states of Montana, South Dakota, Nebraska, and Yellowstone National Park. The company's primary segments include Electric, which includes the generation, purchase, transmission, and distribution of electricity, and Natural Gas, which includes the production, purchase, transmission, storage, and distribution of natural gas. It uses thermal, wind, hydro, or renewable energy in varying quantities, depending on the location of the facilities, to generate power. The company derives the majority of its revenue from the Electric segment.

Founded

1923

HQ

Employees

1.7K

Website

northwesternenergy.com

Sectors

UtilitiesEnergy Production

Financials (LTM)

Revenue: $2B

EBITDA: $631M

EV

$8B

Valuation Multiples

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NorthWestern Energy Financials

NorthWestern Energy reported last 12-month revenue of $2B and EBITDA of $631M.

In the same LTM period, NorthWestern Energy generated $1B in gross profit, $631M in EBITDA, and $198M in net income.

NorthWestern Energy P&L

In the most recent fiscal year, NorthWestern Energy reported revenue of $2B and EBITDA of $615M.

NorthWestern Energy expects next 12-month revenue of XXX and NTM EBITDA of XXX

NorthWestern Energy Stock Performance

NorthWestern Energy has current market cap of $4B, and enterprise value of $8B.

NorthWestern Energy's stock price is $72.48.

NorthWestern Energy Valuation Multiples

NorthWestern Energy trades at 4.8x EV/Revenue multiple, and 12.5x EV/EBITDA.

NorthWestern Energy Financial Valuation Multiples

As of April 19, 2026, NorthWestern Energy has market cap of $4B and EV of $8B.

Equity research analysts estimate NorthWestern Energy's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

NorthWestern Energy has a P/E ratio of 22.6x.

NorthWestern Energy Margins & Growth Rates

NorthWestern Energy's revenue in the last 12 month grew by 5%.

NorthWestern Energy's revenue per employee in the last FY averaged $1.0M, while opex per employee averaged $0.4M for the same period.

NorthWestern Energy's rule of 40 is 44% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

NorthWestern Energy's rule of X is 52% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

NorthWestern Energy Public Comps

See public comps and valuation multiples for other Utilities and Energy Production comps.

NorthWestern Energy M&A Activity

NorthWestern Energy acquired XXX companies to date.

Last acquisition by NorthWestern Energy was on XXXXXXXX, XXXXX. NorthWestern Energy acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

NorthWestern Energy Investment Activity

NorthWestern Energy invested in XXX companies to date.

NorthWestern Energy made its latest investment on XXXXXXXX, XXXXX. NorthWestern Energy invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).