NorthWestern Corporation (NWE) — Working Capital to Net Assets Ratio
NorthWestern Corporation (NWE) has a Working Capital to Net Assets ratio of -6.7% as of December 2025. Working capital of $-193.51 Million (current assets of $503.94 Million minus current liabilities of $697.45 Million) is measured against net assets of $2.89 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See NorthWestern Corporation balance sheet quality to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
NorthWestern Corporation Working Capital to Net Assets (1994–2025)
This chart shows how NorthWestern Corporation's Working Capital to Net Assets ratio has evolved across 32 annual periods from 1994 to 2025. As of December 2025, the ratio stands at -6.7%, reflecting working capital of $-193.51 Million against net assets of $2.89 Billion USD. Check how tangible is NorthWestern Corporation's equity to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for NorthWestern Corporation (1994–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for NorthWestern Corporation from 1994 to 2025, covering 32 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see NWE market cap overview.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -6.7% | $-193.51 Million | $2.89 Billion | $503.94 Million | $697.45 Million | ▲ +6.7 pp |
| 2024 | -13.4% | $-384.01 Million | $2.86 Billion | $418.19 Million | $802.20 Million | ▼ -8.8 pp |
| 2023 | -4.6% | $-127.89 Million | $2.79 Billion | $407.01 Million | $534.90 Million | ▼ -1.5 pp |
| 2022 | -3.1% | $-82.02 Million | $2.67 Billion | $538.82 Million | $620.85 Million | ▼ -5.6 pp |
| 2021 | 2.5% | $58.15 Million | $2.34 Billion | $437.80 Million | $379.64 Million | ▲ +10.1 pp |
| 2020 | -7.6% | $-157.74 Million | $2.08 Billion | $308.68 Million | $466.42 Million | ▼ -6.0 pp |
| 2019 | -1.6% | $-32.70 Million | $2.04 Billion | $301.60 Million | $334.30 Million | ▲ +2.0 pp |
| 2018 | -3.6% | $-69.32 Million | $1.94 Billion | $277.69 Million | $347.01 Million | ▲ +15.1 pp |
| 2017 | -18.7% | $-335.88 Million | $1.80 Billion | $296.36 Million | $632.24 Million | ▲ +1.2 pp |
| 2016 | -19.9% | $-333.64 Million | $1.68 Billion | $280.19 Million | $613.83 Million | ▼ -2.1 pp |
| 2015 | -17.8% | $-284.54 Million | $1.60 Billion | $286.66 Million | $571.20 Million | ▲ +0.1 pp |
| 2014 | -17.8% | $-263.70 Million | $1.48 Billion | $350.88 Million | $614.58 Million | ▼ -4.0 pp |
| 2013 | -13.8% | $-142.63 Million | $1.03 Billion | $320.96 Million | $463.59 Million | ▲ +1.8 pp |
| 2012 | -15.6% | $-146.14 Million | $934.03 Million | $303.13 Million | $449.26 Million | ▲ +6.0 pp |
| 2011 | -21.6% | $-185.75 Million | $859.11 Million | $290.20 Million | $475.95 Million | ▼ -21.5 pp |
| 2010 | -0.1% | $-915.00K | $820.35 Million | $303.05 Million | $303.97 Million | ▲ +3.7 pp |
| 2009 | -3.8% | $-30.16 Million | $787.02 Million | $264.83 Million | $294.99 Million | ▲ +32.2 pp |
| 2008 | -36.0% | $-275.16 Million | $763.53 Million | $313.42 Million | $588.58 Million | ▼ -30.8 pp |
| 2007 | -5.3% | $-43.48 Million | $823.02 Million | $278.35 Million | $321.84 Million | ▼ -3.9 pp |
| 2006 | -1.4% | $-10.46 Million | $742.77 Million | $268.47 Million | $278.94 Million | ▲ +13.7 pp |
| 2005 | -15.1% | $-111.17 Million | $737.50 Million | $313.49 Million | $424.66 Million | ▼ -17.8 pp |
| 2004 | 2.8% | $19.61 Million | $709.34 Million | $347.68 Million | $328.07 Million | ▼ -117.8 pp |
| 2003 | 120.5% | $-706.31 Million | $-585.95 Million | $430.48 Million | $1.14 Billion | ▲ +124.8 pp |
| 2002 | -4.2% | $18.86 Million | $-445.74 Million | $556.36 Million | $537.50 Million | ▲ +47.3 pp |
| 2001 | -51.5% | $-300.55 Million | $583.48 Million | $628.55 Million | $929.10 Million | ▼ -66.8 pp |
| 2000 | 15.3% | $110.01 Million | $720.96 Million | $1.00 Billion | $890.98 Million | ▼ -2.0 pp |
| 1999 | 17.2% | $114.60 Million | $665.50 Million | $383.60 Million | $269.00 Million | ▲ +8.7 pp |
| 1998 | 8.6% | $57.80 Million | $674.60 Million | $267.20 Million | $209.40 Million | ▲ +5.4 pp |
| 1997 | 3.2% | $11.80 Million | $370.10 Million | $156.40 Million | $144.60 Million | ▼ -9.5 pp |
| 1996 | 12.7% | $44.90 Million | $354.30 Million | $197.70 Million | $152.80 Million | ▼ -7.3 pp |
| 1995 | 20.0% | $31.80 Million | $159.00 Million | $90.60 Million | $58.80 Million | ▲ +22.6 pp |
| 1994 | -2.6% | $-3.00 Million | $117.30 Million | $36.20 Million | $39.20 Million | — |