NorthWestern Corporation (NWE) — Capital Reinvestment Ratio
NorthWestern Corporation (NWE) has a Capital Reinvestment Ratio of 2.56x as of June 2026, meaning it reinvests 3% of its operating cash flow ($73.82 Million) in capital expenditures ($188.69 Million). Check NWE tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
NorthWestern Corporation Capital Reinvestment Ratio (1994–2025)
This chart tracks NorthWestern Corporation's Capital Reinvestment Ratio across 30 annual periods. For the full cash flow conversion analysis, see NorthWestern Corporation cash conversion from operations.
Annual Capital Reinvestment Ratio for NorthWestern Corporation (1994–2025)
Year-by-year Capital Reinvestment Ratio for NorthWestern Corporation from 1994 to 2025. See NWE free cash flow to operating cash ratio to measure how efficiently the company converts operating cash flow to free cash.
| 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 | — |