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Side-by-side financial comparison of NorthWestern Energy Group, Inc. (NWE) and ADVANCED DRAINAGE SYSTEMS, INC. (WMS). Click either name above to swap in a different company.
ADVANCED DRAINAGE SYSTEMS, INC. is the larger business by last-quarter revenue ($693.4M vs $497.6M, roughly 1.4× NorthWestern Energy Group, Inc.). ADVANCED DRAINAGE SYSTEMS, INC. runs the higher net margin — 13.5% vs 12.8%, a 0.7% gap on every dollar of revenue. On growth, NorthWestern Energy Group, Inc. posted the faster year-over-year revenue change (6.6% vs 0.4%). Over the past eight quarters, NorthWestern Energy Group, Inc.'s revenue compounded faster (24.7% CAGR vs 3.0%).
NorthWestern Energy Group, Inc. is a utility company that serves South Dakota, Nebraska, and Montana that is based in Sioux Falls. As of 2019, the company serves approximately 718,000 customers. The company's corporate headquarters are located in Sioux Falls while the headquarters for the South Dakota operations are in Huron, South Dakota.
Advanced Drainage Systems, Inc. (ADS) is an American company that designs, manufactures and markets polypropylene and polyethylene pipes, plastic leach field chambers and systems, septic tanks and accessories, storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water filters and water separators. It is the largest maker of high-density polyethylene pipe in the United States. It is headquartered in Hilliard, Ohio. In 2020, 93% of the company's s...
NWE vs WMS — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $497.6M | $693.4M |
| Net Profit | $63.5M | $93.6M |
| Gross Margin | — | 37.4% |
| Operating Margin | 22.9% | 19.7% |
| Net Margin | 12.8% | 13.5% |
| Revenue YoY | 6.6% | 0.4% |
| Net Profit YoY | — | 15.3% |
| EPS (diluted) | — | $1.19 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $497.6M | — | ||
| Q4 25 | $414.3M | $693.4M | ||
| Q3 25 | $387.0M | $850.4M | ||
| Q2 25 | $342.7M | $829.9M | ||
| Q1 25 | $466.6M | $615.8M | ||
| Q4 24 | $373.5M | $690.5M | ||
| Q3 24 | $345.2M | $782.6M | ||
| Q2 24 | $319.9M | $815.3M |
| Q1 26 | $63.5M | — | ||
| Q4 25 | $44.7M | $93.6M | ||
| Q3 25 | $38.2M | $156.0M | ||
| Q2 25 | $21.2M | $143.9M | ||
| Q1 25 | $76.9M | $77.2M | ||
| Q4 24 | $80.6M | $81.2M | ||
| Q3 24 | $46.8M | $130.4M | ||
| Q2 24 | $31.7M | $161.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 37.4% | ||
| Q3 25 | — | 40.0% | ||
| Q2 25 | — | 39.8% | ||
| Q1 25 | — | 36.7% | ||
| Q4 24 | — | 35.0% | ||
| Q3 24 | — | 37.6% | ||
| Q2 24 | — | 40.8% |
| Q1 26 | 22.9% | — | ||
| Q4 25 | 14.5% | 19.7% | ||
| Q3 25 | 20.7% | 26.3% | ||
| Q2 25 | 17.7% | 24.8% | ||
| Q1 25 | 26.7% | 19.0% | ||
| Q4 24 | 24.6% | 18.4% | ||
| Q3 24 | 19.7% | 23.9% | ||
| Q2 24 | 19.3% | 27.7% |
| Q1 26 | 12.8% | — | ||
| Q4 25 | 10.8% | 13.5% | ||
| Q3 25 | 9.9% | 18.3% | ||
| Q2 25 | 6.2% | 17.3% | ||
| Q1 25 | 16.5% | 12.5% | ||
| Q4 24 | 21.6% | 11.8% | ||
| Q3 24 | 13.6% | 16.7% | ||
| Q2 24 | 9.9% | 19.8% |
| Q1 26 | — | — | ||
| Q4 25 | $0.72 | $1.19 | ||
| Q3 25 | $0.62 | $1.99 | ||
| Q2 25 | $0.35 | $1.84 | ||
| Q1 25 | $1.25 | $0.99 | ||
| Q4 24 | $1.31 | $1.04 | ||
| Q3 24 | $0.76 | $1.67 | ||
| Q2 24 | $0.52 | $2.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.0B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $1.9B |
| Total Assets | — | $4.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $8.8M | $1.0B | ||
| Q3 25 | $6.2M | $812.9M | ||
| Q2 25 | $2.9M | $638.3M | ||
| Q1 25 | $56.0M | $463.3M | ||
| Q4 24 | $4.3M | $488.9M | ||
| Q3 24 | $2.5M | $613.0M | ||
| Q2 24 | $6.4M | $541.6M |
| Q1 26 | — | — | ||
| Q4 25 | $3.3B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $2.9B | $1.9B | ||
| Q3 25 | $2.9B | $1.8B | ||
| Q2 25 | $2.9B | $1.7B | ||
| Q1 25 | $2.9B | $1.5B | ||
| Q4 24 | $2.9B | $1.5B | ||
| Q3 24 | $2.8B | $1.4B | ||
| Q2 24 | $2.8B | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | $8.5B | $4.1B | ||
| Q3 25 | $8.3B | $4.1B | ||
| Q2 25 | $8.1B | $3.9B | ||
| Q1 25 | $8.1B | $3.7B | ||
| Q4 24 | $8.0B | $3.6B | ||
| Q3 24 | $7.9B | $3.5B | ||
| Q2 24 | $7.7B | $3.4B |
| Q1 26 | — | — | ||
| Q4 25 | 1.14× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | 1.05× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $269.3M |
| Free Cash FlowOCF − Capex | — | $183.6M |
| FCF MarginFCF / Revenue | — | 26.5% |
| Capex IntensityCapex / Revenue | — | 12.4% |
| Cash ConversionOCF / Net Profit | — | 2.88× |
| TTM Free Cash FlowTrailing 4 quarters | — | $577.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $56.2M | $269.3M | ||
| Q3 25 | $126.7M | $234.9M | ||
| Q2 25 | $58.2M | $275.0M | ||
| Q1 25 | $153.4M | $41.2M | ||
| Q4 24 | $62.8M | $189.9M | ||
| Q3 24 | $120.0M | $166.9M | ||
| Q2 24 | $62.3M | $183.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-93.7M | $183.6M | ||
| Q3 25 | $-26.9M | $176.4M | ||
| Q2 25 | $-70.6M | $222.4M | ||
| Q1 25 | $61.3M | $-5.3M | ||
| Q4 24 | $-85.9M | $135.7M | ||
| Q3 24 | $-33.2M | $112.4M | ||
| Q2 24 | $-76.3M | $125.7M |
| Q1 26 | — | — | ||
| Q4 25 | -22.6% | 26.5% | ||
| Q3 25 | -6.9% | 20.7% | ||
| Q2 25 | -20.6% | 26.8% | ||
| Q1 25 | 13.1% | -0.9% | ||
| Q4 24 | -23.0% | 19.7% | ||
| Q3 24 | -9.6% | 14.4% | ||
| Q2 24 | -23.9% | 15.4% |
| Q1 26 | — | — | ||
| Q4 25 | 36.2% | 12.4% | ||
| Q3 25 | 39.7% | 6.9% | ||
| Q2 25 | 37.6% | 6.3% | ||
| Q1 25 | 19.7% | 7.6% | ||
| Q4 24 | 39.8% | 7.9% | ||
| Q3 24 | 44.4% | 7.0% | ||
| Q2 24 | 43.3% | 7.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.26× | 2.88× | ||
| Q3 25 | 3.31× | 1.51× | ||
| Q2 25 | 2.74× | 1.91× | ||
| Q1 25 | 1.99× | 0.53× | ||
| Q4 24 | 0.78× | 2.34× | ||
| Q3 24 | 2.56× | 1.28× | ||
| Q2 24 | 1.97× | 1.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NWE
| Electric | $362.1M | 73% |
| Gas | $135.5M | 27% |
WMS
| Reportable Segment Aggregation Before Other Operating Segment | $557.3M | 80% |
| Other | $85.5M | 12% |
| Pipe | $35.5M | 5% |
| Allied Products And Other | $15.0M | 2% |
