NorthWestern Energy (NWE) Operating Margin (2022 - 2026)

NorthWestern Energy has reported Operating Margin for 5 years, with the latest figure at 22.93% in Q1 2026.

• For the quarter ending Q1 2026, Operating Margin fell 380.0% year-over-year to 22.93%; the trailing twelve-month figure through Mar 2026 stood at 19.2% (down 378.0% YoY), and the FY2025 full-year result was 20.23%, down 113.0% from the prior year.
• Operating Margin for Q1 2026 stood at 22.93%, up from 14.49% in the prior quarter.
• The five-year high for Operating Margin was 28.98% in Q4 2023, with the low at 14.41% in Q3 2022.
• Historically, Operating Margin has averaged 20.31% across 5 years, with a median of 19.68% in 2024.
• Annual changes were most pronounced in 2023 — Operating Margin jumped 941 bps — and 2025, when it plunged 1006 bps.
• NorthWestern Energy's Operating Margin stood at 19.57% in 2022, then surged by 48 bps to 28.98% in 2023, then slipped by 15 bps to 24.55% in 2024, then sank by 41 bps to 14.49% in 2025, then jumped by 58 bps to 22.93% in 2026.
• The last three Operating Margin figures came in at 22.93% (Q1 2026), 14.49% (Q4 2025), and 20.75% (Q3 2025), per Business Quant data.