Avista vs NorthWestern Energy
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KIRA’s take AI analyst
I put Avista and NorthWestern Energy side by side, using each one’s latest annual report. Here is what stands out:
- Avista is the larger business, with $2.0B of revenue in fiscal 2025 against $1.6B for NorthWestern Energy.
- NorthWestern Energy grew revenue faster (6.4%, against 1.3%).
- NorthWestern Energy kept more of each dollar of sales as operating profit (20.2% operating margin, against 18.0%).
- Avista turned more of its sales into free cash flow (−5.1% FCF margin, against −8.1%).
- Investors pay more for each dollar of NorthWestern Energy’s earnings: a P/E of 28.0x against 13.4x for Avista.
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
Avista
AVA
3/7
5-year growthFCF marginReturn on equity
NorthWestern Energy
NWE
4/7
Revenue growthOperating marginNet marginShare count change
Side by side
Best in the row
| Latest fiscal year | AVA FY25 | NWE FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.1B | $4.8B |
| Revenue | $2.0B | $1.6B |
| Free cash flow | −$101M | −$130M |
| Net income | $193M | $181M |
| Growth | ||
| Revenue growth | 1.3% | 6.4% |
| 5-year growth | 8.2% | 6.1% |
| Share count change | 2.8% | 0.3% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 18.0% | 20.2% |
| Net margin | 9.8% | 11.2% |
| FCF margin | −5.1% | −8.1% |
| Return on capital | — | 5.1% |
| Return on equity | 7.3% | 6.3% |
| Balance sheet | ||
| Net debt | — | $3.4B |
| Net debt / EBITDA | — | 6.0x |
| Dividends and buybacks | $159M | $161M |
| Valuation & quality | ||
| P/E | 13.4x | 28.0x |
| Piotroski F-score | — | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.