NorthWestern Corporation (NWE) — Capital Reinvestment Ratio
Latest as of December 2025:
2.67x
NorthWestern Corporation (NWE) has a Capital Reinvestment Ratio of 2.67x as of December 2025, meaning it reinvests 3% of its operating cash flow ($56.18 Million) in capital expenditures ($149.92 Million). See NorthWestern Corporation free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
2.67x
Capex / Operating Cash Flow
Operating Cash Flow
$56.18 Million
USD
Capital Expenditures
$149.92 Million
USD
Data as of
Dec 2025
Most recent filing
NorthWestern Corporation Capital Reinvestment Ratio (1994–2025)
This chart tracks NorthWestern Corporation's Capital Reinvestment Ratio across 30 annual periods.
Annual Capital Reinvestment Ratio for NorthWestern Corporation (1994–2025)
Year-by-year Capital Reinvestment Ratio for NorthWestern Corporation from 1994 to 2025. For live market cap and broader valuation context, see NorthWestern Corporation market cap and net worth.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 1.33x | $394.45 Million | $524.46 Million | ▼ -1.5% |
| 2024 | 1.35x | $406.74 Million | $549.24 Million | ▲ +16.5% |
| 2023 | 1.16x | $489.23 Million | $566.89 Million | ▼ -30.9% |
| 2022 | 1.68x | $307.24 Million | $515.14 Million | ▼ -15.1% |
| 2021 | 1.97x | $219.98 Million | $434.33 Million | ▲ +71.4% |
| 2020 | 1.15x | $352.15 Million | $405.76 Million | ▲ +8.2% |
| 2019 | 1.07x | $296.70 Million | $316.00 Million | ▲ +43.3% |
| 2018 | 0.74x | $381.99 Million | $283.97 Million | ▼ -13.0% |
| 2017 | 0.85x | $323.61 Million | $276.44 Million | ▼ -14.2% |
| 2016 | 1.00x | $289.01 Million | $287.90 Million | ▲ +19.3% |
| 2015 | 0.83x | $339.82 Million | $283.70 Million | ▼ -22.8% |
| 2014 | 1.08x | $250.04 Million | $270.38 Million | ▼ -9.1% |
| 2013 | 1.19x | $193.72 Million | $230.45 Million | ▲ +36.3% |
| 2012 | 0.87x | $251.19 Million | $219.23 Million | ▲ +8.1% |
| 2011 | 0.81x | $233.76 Million | $188.73 Million | ▼ -22.6% |
| 2010 | 1.04x | $218.92 Million | $228.37 Million | ▼ -35.7% |
| 2009 | 1.62x | $116.80 Million | $189.36 Million | ▲ +158.1% |
| 2008 | 0.63x | $198.33 Million | $124.56 Million | ▲ +8.3% |
| 2007 | 0.58x | $201.96 Million | $117.08 Million | ▼ -2.5% |
| 2006 | 0.59x | $169.90 Million | $101.05 Million | ▲ +10.7% |
| 2005 | 0.54x | $150.51 Million | $80.88 Million | ▼ -84.2% |
| 2002 | 3.41x | $34.04 Million | $115.94 Million | ▲ +958.3% |
| 2001 | 0.32x | $127.00 Million | $40.87 Million | ▼ -23.1% |
| 2000 | 0.42x | $76.72 Million | $32.10 Million | ▼ -8.0% |
| 1999 | 0.45x | $71.70 Million | $32.60 Million | ▲ +40.6% |
| 1998 | 0.32x | $69.90 Million | $22.60 Million | ▼ -48.2% |
| 1997 | 0.62x | $62.70 Million | $39.10 Million | ▼ -36.4% |
| 1996 | 0.98x | $60.90 Million | $59.70 Million | ▼ -13.7% |
| 1995 | 1.14x | $35.40 Million | $40.20 Million | ▲ +31.6% |
| 1994 | 0.86x | $26.30 Million | $22.70 Million | — |
Capital Reinvestment Ratio = ABS(Capital Expenditures) / Operating Cash Flow