회사 개요
NorthWestern Energy Group, Inc. operates as a regulated utility entity providing essential electricity and natural gas services to residential, commercial, and diversified industrial customers. As a leader in the Utilities - Regulated Electric industry within the broader Utilities sector, the company manages the full spectrum of energy delivery, including generation, purchasing, transmission, and distribution of electricity, alongside the production, storage, and distribution of natural gas. The company's scale is defined by a market capitalization of $4.29B and an annual revenue of $1.61B, supported by a workforce of 1667 employees. These valuation and revenue figures indicate that NorthWestern Energy Group maintains a significant position in the regulated electric utility market, reflecting its substantial asset base and ongoing operational responsibilities in energy infrastructure.
재무 건전성
The company reported a revenue of $1.61B for the trailing twelve months, with a net income of $181.09M and an EBITDA of $583.54M, revealing a significant gap between top-line revenue and bottom-line earnings that highlights the heavy cost structure inherent in regulated utility operations. Operating expenses, including cost of goods sold and operating costs, consume a substantial portion of the $1.61B revenue, resulting in a net income figure that is roughly 11.2% of total sales. The company's free cash flow stands at -$188,033,872, indicating that capital expenditures for maintaining and upgrading energy infrastructure currently exceed the cash generated from operations, which impacts immediate financial flexibility. Gross margin stands at 56.9%, operating margin at 16.7%, and profit margin at 11.2%, demonstrating that while the utility model generates stable gross profitability, regulatory constraints and operational costs limit the final profit retention. On the balance sheet, total cash is $8.78M while total debt amounts to $3.44B, resulting in a debt-to-equity ratio of 119.13% that characterizes the company as highly leveraged rather than conservative. This high leverage is typical for capital-intensive utility firms but necessitates careful monitoring of interest coverage and refinancing risks. Liquidity is further scrutinized by a current ratio of 0.72, which suggests that current liabilities exceed current assets, indicating potential short-term liquidity pressure despite the regulated nature of its revenue streams. Return on Equity is 6.3% and Return on Assets is 2.5%, metrics that reveal the management's effectiveness in generating returns is modest relative to the high level of capital employed in the business.
밸류에이션 평가
NorthWestern Energy Group, Inc. trades with a trailing P/E ratio of 23.70 and a forward P/E of 17.40, implying that the market expects earnings to recover significantly from current depressed levels to justify the lower forward multiple. The difference between the trailing and forward multiples suggests a strong anticipated turnaround in profitability, likely driven by normalization of earnings after the recent decline. The price-to-book ratio is 1.48, indicating that the market values the company's equity at a premium of 48% over its book value, reflecting confidence in the quality of its regulated assets. Alternative valuation metrics such as the price-to-sales ratio of 2.66 and an EV/EBITDA of 13.21 provide additional context, suggesting the stock is valued moderately relative to its sales and earnings power despite the current earnings volatility. The stock's 52-week trading range spans from a low of $50.46 to a high of $72.21, and depending on the specific current trading price, the stock sits within this volatility band, exhibiting the typical characteristics of a utility stock with lower beta. The beta value of 0.34 indicates that the stock's price volatility is significantly lower than the broader market, offering stability but also limiting potential upside during bull markets.
Growth & Income
Revenue growth for the year-over-year period is 10.9%, driven by regulatory rate adjustments and customer demand, while earnings growth has contracted sharply to -44.8%, revealing a disconnect where earnings are growing much slower than revenue due to one-time costs or earnings volatility. For dividend payers like NorthWestern Energy Group, the dividend yield is 3.8% with a payout ratio of 89.8%, which raises sustainability concerns as the payout consumes nearly all of the reported net income, leaving little room for error if earnings continue to fluctuate. Given the high payout ratio and recent earnings decline, the company faces a challenge in maintaining this yield without increasing debt or cutting dividends, as the payout is not fully covered by current earnings. Overall, the growth and income profile presents a mix of moderate revenue expansion, significant earnings contraction, and a high-yield but potentially pressured dividend structure typical of mature utility stocks facing operational headwinds.