NorthWestern Corporation (NWE)

Debt-to-equity ratio

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024
Long-term debt US$ in thousands 2,695,340 2,567,940 2,569,550
Total stockholders’ equity US$ in thousands 2,857,700 2,816,460 2,807,260
Debt-to-equity ratio 0.94 0.91 0.92

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,695,340K ÷ $2,857,700K
= 0.94

The debt-to-equity ratio of NorthWestern Corporation has shown a relatively stable trend over the past three quarters. As of June 30, 2024, the ratio was 0.92, indicating that the company had slightly more debt than equity. Subsequently, the ratio decreased to 0.91 as of September 30, 2024, suggesting a slight improvement in the company's financial leverage. However, by December 31, 2024, the ratio increased to 0.94, which indicates a higher proportion of debt relative to equity compared to the previous quarter. Overall, the company's debt-to-equity ratio hovers around 1, demonstrating that NorthWestern Corporation relies moderately on debt financing to support its operations and growth initiatives.