NorthWestern Energy (NWE) Operating Expenses (2022 - 2026)
NorthWestern Energy (NWE) reported Operating Expenses of $328.35 million for Q2 2026, up 16.5% from $281.93 million a year earlier but down 14.4% from the prior quarter.
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Analysis
NorthWestern Energy (NWE) Operating Expenses (2022 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, NorthWestern Energy's Operating Expenses came in at $1.37 billion, up 16.1% year-over-year; for FY2025, it came in at $1.28 billion, up 7.9% from FY2024.
- Operating Expenses has a four-year compound annual growth rate of 4.0% (FY2021 to FY2025).
- By year, Operating Expenses came in at $1.19 billion in FY2024 (+6.1%), $1.12 billion in FY2023 (-7.7%), $1.21 billion in FY2022 (+10.8%) and $1.1 billion in FY2021.
- Five-year quarterly Operating Expenses spans a low of $244.88 million in Q2 2023 and a high of $383.46 million in Q1 2026.
- Year over year, Operating Expenses has now increased in each of the last five quarters, with growth averaging 10.2% over the last eight quarters.
- The high point for year-over-year Operating Expenses in five years was Q4 2025 (growth of 25.7%); the low point was Q4 2023 (a decline of 26.1%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $383.46 million (Q1 2026), $354.24 million (Q4 2025) and $306.67 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enel Chile | 293.96 Bn | 293.96 Bn | 890.00 Mn | -140.00 Mn |
| 2 | National Grid | 78.23 Bn | 59.76 Bn | - | - |
| 3 | Dominion Energy | 53.03 Bn | 55.71 Bn | - | 4.15 Bn |
| 4 | Xcel Energy | 43.33 Bn | 38.23 Bn | - | 2.41 Bn |
| 5 | Wec Energy | 33.06 Bn | 33.29 Bn | 1.51 Bn | 1.63 Bn |
| 6 | Ameren | 27.51 Bn | 27.60 Bn | - | 1.63 Bn |
| 7 | Fortis | 26.94 Bn | 27.43 Bn | 1.60 Bn | 626.05 Mn |
| 8 | Atmos Energy | 26.53 Bn | 25.30 Bn | 870.85 Mn | - |
| 9 | American Water Works Company | 25.62 Bn | 25.03 Bn | - | 813.00 Mn |
| 10 | NorthWestern Energy | 4.19 Bn | 4.16 Bn | 302.78 Mn | 328.35 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 328.35 Mn |
| Mar 31, 2026 | 383.46 Mn |
| Dec 31, 2025 | 354.24 Mn |
| Sep 30, 2025 | 306.67 Mn |
| Jun 30, 2025 | 281.93 Mn |
| Mar 31, 2025 | 341.90 Mn |
| Dec 31, 2024 | 281.77 Mn |
| Sep 30, 2024 | 277.23 Mn |
| Jun 30, 2024 | 258.32 Mn |
| Mar 31, 2024 | 373.26 Mn |
| Dec 31, 2023 | 252.85 Mn |
| Sep 30, 2023 | 265.46 Mn |
| Jun 30, 2023 | 244.88 Mn |
| Mar 31, 2023 | 358.50 Mn |
| Dec 31, 2022 | 342.06 Mn |
| Sep 30, 2022 | 286.77 Mn |
API Access
NorthWestern Energy Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=NWE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "NWE", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=NWE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();