NorthWestern Energy
NWE · Multi-Utilities
$77.59
0.6%OGE Energy
OGE · Multi-Utilities
$48.41
1.0%The short version
- OGE Energy is the larger business, with $3.3B of revenue in fiscal 2025 against $1.6B for NorthWestern Energy, about 2.0 times as much.
- OGE Energy grew revenue faster (9.2%, against 6.4%).
- OGE Energy kept more of each dollar of sales as operating profit (24.5% operating margin, against 20.2% operating margin).
- OGE Energy turned more of its sales into free cash flow (2.5% FCF margin, against −8.1% FCF margin).
- OGE Energy earned a higher return on the capital invested in it (6.5%, against 5.1%).
- Investors pay more for each dollar of NorthWestern Energy’s earnings: a P/E of 28.0x against 21.6x for OGE Energy.
| Latest fiscal year | NWE · FY25 | OGE · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.8B | $10.0B |
| Revenue | $1.6B | $3.3B |
| Free cash flow | −$130M | $82.7M |
| Net income | $181M | $471M |
| Growth | ||
| Revenue growth | 6.4% | 9.2% |
| 5-year growth | 6.1% | 9.0% |
| Share count change | 0.3% | 0.6% |
| Profitability | ||
| Gross margin | — | 61.4% |
| Operating margin | 20.2% | 24.5% |
| Net margin | 11.2% | 14.4% |
| FCF margin | −8.1% | 2.5% |
| Return on capital | 5.1% | 6.5% |
| Return on equity | 6.3% | 9.8% |
| Balance sheet | ||
| Net debt | $3.4B | $5.7B |
| Net debt / EBITDA | 6.0x | 4.2x |
| Dividends and buybacks | $161M | $342M |
| Valuation & quality | ||
| P/E | 28.0x | 21.6x |
| Piotroski F-score | 5 | 6 |
FY16
NWE $1.3B
OGE $2.3B
FY17
NWE $1.3B
OGE $2.3B
FY18
NWE $1.2B
OGE $2.3B
FY19
NWE $1.3B
OGE $2.2B
FY20
NWE $1.2B
OGE $2.1B
FY21
NWE $1.4B
OGE $3.7B
FY22
NWE $1.5B
OGE $3.4B
FY23
NWE $1.4B
OGE $2.7B
FY24
NWE $1.5B
OGE $3.0B
FY25
NWE $1.6B
OGE $3.3B
NWE
OGE
FY16
NWE 20.3%
OGE 23.5%
FY17
NWE 20.8%
OGE 23.5%
FY18
NWE 22.3%
OGE 21.6%
FY19
NWE 22.0%
OGE 22.6%
FY20
NWE 19.7%
OGE 24.6%
FY21
NWE 20.1%
OGE 14.9%
FY22
NWE 17.8%
OGE 19.2%
FY23
NWE 21.1%
OGE 24.3%
FY24
NWE 21.4%
OGE 25.0%
FY25
NWE 20.2%
OGE 24.5%
NWE
OGE
FY16
NWE −$1.1M
OGE −$15.4M
FY17
NWE $46.3M
OGE −$39.6M
FY18
NWE $98.0M
OGE $378M
FY19
NWE −$19.3M
OGE $46.0M
FY20
NWE −$53.6M
OGE $62.3M
FY21
NWE −$214M
OGE −$1.0B
FY22
NWE −$208M
OGE −$98.5M
FY23
NWE −$77.7M
OGE $54.1M
FY24
NWE −$143M
OGE −$278M
FY25
NWE −$130M
OGE $82.7M
NWE
OGE
FY16
NWE 6.9%
OGE 6.0%
FY17
NWE 6.6%
OGE 8.0%
FY18
NWE 6.7%
OGE 6.0%
FY19
NWE 6.7%
OGE 6.5%
FY20
NWE 5.4%
OGE 5.6%
FY21
NWE 5.8%
OGE 5.6%
FY22
NWE 5.1%
OGE 6.1%
FY23
NWE 5.3%
OGE 6.3%
FY24
NWE 5.6%
OGE 6.5%
FY25
NWE 5.1%
OGE 6.5%
NWE
OGE
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.