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

NorthWestern Energy's Operating Margin history runs 5 years deep, the most recent figure standing at 22.93% for Q1 2026.

• Quarterly Operating Margin fell 380.0% year-over-year to 22.93% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 19.2% (down 378.0% YoY) and the FY2025 annual result came in at 20.23%, down 113.0% from the prior year.
• Operating Margin was 22.93% for Q1 2026 at NorthWestern Energy, up from 14.49% in the prior quarter.
• Across five years, Operating Margin topped out at 28.98% in Q4 2023 and bottomed at 14.41% in Q3 2022.
• A 5-year average of 20.31% and a median of 19.68% in 2024 frame the typical range for Operating Margin.
• Annual changes were most pronounced in 2023 — Operating Margin jumped 941 bps — and 2025, when it tumbled 1006 bps.
• NorthWestern Energy's Operating Margin stood at 19.57% in 2022, then jumped by 48 bps to 28.98% in 2023, then declined by 15 bps to 24.55% in 2024, then tumbled by 41 bps to 14.49% in 2025, then soared by 58 bps to 22.93% in 2026.
• Business Quant data shows NWE's Operating Margin at 22.93% in Q1 2026, 14.49% in Q4 2025, and 20.75% in Q3 2025.