Black Hills vs Northwestern Energy Group
Black Hills is the larger business, with $2.31bn of revenue in fiscal 2025 against $1.61bn for Northwestern Energy Group (1.4 times as much). Black Hills grew faster (8.6% against 6.4%). Black Hills kept more of each dollar of sales as profit: a net margin of 12.6% against 11.2%. Northwestern Energy Group carries less debt relative to equity (119.1% against 122.9%).
| Latest fiscal year | Black HillsBKH, 2025 | Northwestern Energy GroupNWE, 2025 |
|---|---|---|
| Revenue | $2.31bn | $1.61bn |
| Revenue growth | 8.6% | 6.4% |
| Net income | $292m | $181m |
| Operating margin | 23.3% | 20.2% |
| Net margin | 12.6% | 11.2% |
| Return on equity | 8.0% | 6.3% |
| Free cash flow | −$146m | −$130m |
| Cash | $183m | $8.8m |
| Total debt | $4.70bn | $3.44bn |
| Debt to equity | 122.9% | 119.1% |
| Dividend per share | $2.70 | $2.64 |
| Dividend yield | 3.3% | 3.3% |
| Share buybacks | — | — |
| Employees | — | 1,667 |
| Market value | $6.23bn | $4.94bn |
| Price vs our value range | — | — |
| Moat score | 40 (Weak) | — |
| Insider trades, 12 months | 0 buys, 2 sales | 0 buys, 0 sales |