Otter Tail Corporation (OTTR) 10-Year Financial Performance & Capital Metrics

OTTR • • Utilities

UtilitiesDiversified UtilitiesRegional Electric UtilitiesMidwest Regional Electric Utilities

AboutOtter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. The company's Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator, Inc. markets. This segment generates electricity through coal, wind and hydro, and natural gas. It serves approximately 133,000 residential, industrial, and other commercial customers. Its Manufacturing segment engages in the contract machining, metal parts stamping, fabrication and painting, and production of plastic thermoformed horticultural containers, life science and industrial packaging, and material handling components, and extruded raw material stock for recreational vehicle, agricultural, construction, lawn and garden, and industrial and energy equipment industries. It also manufactures clamshell packing, blister packs, returnable pallets, and handling trays for shipping and storing odd-shaped or difficult-to-handle parts for customers in the horticulture, medical and life sciences, industrial, recreation, and electronics industries. The company's Plastics segment manufactures polyvinyl chloride pipes for municipal water, rural water, wastewater, storm drainage and water reclamation system, and other uses. This segment markets its products to wholesalers and distributors through independent sales representatives, company salespersons, and customer service representatives. The company was formerly known as Otter Tail Power Company and changed its name to Otter Tail Corporation in 2001. Otter Tail Corporation was founded in 1907 and is headquartered in Fergus Falls, Minnesota.Show more

Revenue $1.33B -1.4%
EBITDA $487M +2.4%
Net Income $302M +2.5%
Free Cash Flow $94M -19.8%
EBITDA Margin 36.63% +3.8%
Net Margin 22.67% +4.0%
ROE 19.39% -12.3%
Interest Coverage 9.09 -9.3%
Debt/Equity 0.61 -3.2%
Net Debt/EBITDA 1.47 +3.9%
CapEx / Revenue 26.96% +26.7%
CapEx Coverage 1.26 -10.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 22.4%
✓Strong 5Y profit CAGR of 28.3%
✓10 years of consecutive dividend growth
✓10 consecutive years of dividend growth
✓Strong interest coverage of 9.1x
✓Healthy dividend yield of 2.1%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.23%

5Y7.67%

3Y3.59%

TTM-3.18%

Profit (Net Income) CAGR

10Y17.98%

5Y28.28%

3Y19.5%

TTM-8.41%

EPS CAGR

10Y16.4%

5Y27%

3Y19.23%

TTM-8.43%

ROCE

10Y Avg9.43%

5Y Avg11.84%

3Y Avg13.71%

Latest12.12%

Peer Comparison

Midwest Regional Electric Utilities

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ALEALLETE, Inc.	3.94B	67.90	21.89	-18.62%	11.04%	4.96%	2.59%	0.53
OTTROtter Tail Corporation	3.7B	88.29	12.31	-1.38%	21.47%	15.23%	2.54%	0.61

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	779.8M	803.54M	849.35M	916.45M	919.5M	890.11M	1.2B	1.46B	1.35B	1.33B
Revenue Growth %	-0.02%	0.03%	0.06%	0.08%	0%	-0.03%	0.34%	0.22%	-0.08%	-0.01%
Cost of Revenue	570.21M	564.47M	592.38M	645.26M	639.97M	588.1M	772.77M	889.71M	784.02M	747.45M
Gross Profit+	209.6M	239.07M	256.97M	271.18M	279.53M	302.01M	424.07M	570.5M	565.15M	583.1M
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.03%	0.14%	0.07%	0.06%	0.03%	0.08%	0.4%	0.35%	-0.01%	0.03%
Operating Expenses+	100.38M	127.97M	130.84M	141.79M	144.65M	154.12M	174.36M	180.06M	187.23M	202.85M
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	169.58M	184.54M	198.68M	204.06M	212.97M	229.92M	341.07M	483.04M	475.87M	487.37M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	0.08%	0.09%	0.08%	0.03%	0.04%	0.08%	0.48%	0.42%	-0.01%	0.02%
Depreciation & Amortization+	60.36M	73.44M	72.55M	74.67M	78.09M	82.04M	91.36M	92.6M	97.95M	107.12M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	109.21M	111.1M	126.13M	129.39M	134.88M	147.89M	249.71M	390.44M	377.92M	380.25M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.1%	0.02%	0.14%	0.03%	0.04%	0.1%	0.69%	0.56%	-0.03%	0.01%
Interest Expense+	31.16M	31.89M	29.6M	30.41M	31.41M	34.45M	37.77M	36.02M	37.68M	41.81M
Interest Coverage	3.50x	3.48x	4.26x	4.26x	4.29x	4.29x	6.61x	10.84x	10.03x	9.09x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Pretax Income+	80.23M	82.12M	99.16M	96.93M	104.29M	116.06M	212.82M	357.54M	363.49M	366.89M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	21.64M	20.08M	27.04M	14.59M	17.44M	20.21M	36.05M	73.35M	69.3M	65.23M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	59.34M	62.32M	72.44M	82.34M	86.85M	95.85M	176.77M	284.18M	294.19M	301.66M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.03%	0.05%	0.16%	0.14%	0.05%	0.1%	0.84%	0.61%	0.04%	0.03%
EPS (Diluted)+	1.58	1.61	1.82	2.06	2.17	2.34	4.23	6.78	7.00	7.17
EPS Growth %	0.01%	0.02%	0.13%	0.13%	0.05%	0.08%	0.81%	0.6%	0.03%	0.02%
EPS (Basic)	1.58	1.62	1.84	2.08	2.19	2.35	4.26	6.83	7.06	7.22
Diluted Shares Outstanding	37.67M	38.73M	39.75M	39.89M	39.95M	40.91M	41.82M	41.93M	42.04M	42.07M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	1.82B	1.91B	2B	2.05B	2.27B	2.58B	2.75B	2.9B	3.24B	3.65B
Asset Growth %	0.02%	0.05%	0.05%	0.02%	0.11%	0.13%	0.07%	0.05%	0.12%	0.13%
PP&E (Net)+	1.39B	1.48B	1.54B	1.58B	1.75B	2.05B	2.12B	2.21B	2.42B	2.69B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	206.69M	208.01M	239.13M	241.42M	254.86M	234.83M	369.35M	452.75M	570.17M	630.04M
Cash & Equivalents	131.54M	6.22M	16.22M	861K	21.2M	1.16M	1.54M	119M	230.37M	294.65M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	85.42M	83.74M	88.03M	106.27M	97.85M	92.17M	148.49M	145.95M	149.7M	148.88M
Other Current Assets	27.36M	29.44M	35.04M	23.34M	28.18M	27.55M	44.37M	43.41M	32.95M	40.54M
Long-Term Investments	8.28M	8.42M	8.63M	8.96M	45.37M	51.86M	56.69M	54.84M	62.52M	121.18M
Goodwill	39.73M	37.57M	37.57M	37.57M	37.57M	37.57M	37.57M	37.57M	37.57M	37.57M
Intangible Assets	15.67M	14.96M	13.77M	12.45M	11.29M	10.14M	9.04M	7.94M	6.84M	5.74M
Other Assets	31.11M	34.1M	36.01M	149.92M	170.71M	194.68M	157.56M	135.83M	147.09M	165.09M
Total Liabilities	1.22B	1.24B	1.31B	1.32B	1.49B	1.71B	1.76B	1.68B	1.8B	1.98B
Total Debt+	579.16M	581.42M	602.94M	608.77M	718.09M	845.52M	855.16M	832.02M	905.48M	1.01B
Net Debt	447.62M	575.21M	586.72M	607.91M	696.89M	844.35M	853.62M	713.03M	675.11M	718.7M
Long-Term Debt	443.85M	505.34M	490.38M	590M	689.58M	624.43M	734.01M	823.82M	824.06M	943.73M
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	0	22.33M	0	0	0	0	0
Total Current Liabilities+	271.24M	215.67M	256.65M	170.09M	189.74M	436.79M	387.7M	237.64M	309.76M	309.79M
Accounts Payable	89.5M	89.35M	84.68M	96.29M	120.78M	120.62M	135.09M	104.4M	94.43M	113.57M
Accrued Expenses	31.4M	29.58M	21.53M	24.86M	22.73M	27.45M	31.7M	32.33M	38.13M	34.4M
Deferred Revenue	46.23M	48.87M	49.73M	54.29M	0	0	0	0	0	0
Other Current Liabilities	17.12M	20.66M	37.88M	30.17M	18.39M	48.8M	80.52M	73.36M	69.18M	74.89M
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	266.52M	271.83M	560.35M	422.61M	444.03M	475.39M	437.41M	385.67M	413.3M	447.32M
Total Equity+	605.02M	670.1M	696.89M	728.86M	781.48M	870.97M	990.78M	1.22B	1.44B	1.67B
Equity Growth %	0.06%	0.11%	0.04%	0.05%	0.07%	0.11%	0.14%	0.23%	0.19%	0.16%
Shareholders Equity	605.02M	670.1M	696.89M	728.86M	781.48M	870.97M	990.78M	1.22B	1.44B	1.67B
Minority Interest	0	0	0	0	0	0	0	0	0	0
Common Stock	189.29M	196.74M	197.79M	198.32M	200.79M	207.35M	207.76M	208.16M	208.55M	209.14M
Additional Paid-in Capital	293.61M	337.68M	343.45M	344.25M	364.79M	414.25M	419.76M	423.03M	426.96M	429.09M
Retained Earnings	126.03M	139.48M	161.29M	190.43M	222.34M	257.88M	369.78M	585.21M	806.34M	1.03B
Accumulated OCI	-3.9M	-3.8M	-5.63M	-4.14M	-6.44M	-8.51M	-6.52M	915K	1.15M	532K
Return on Assets (ROA)	0.03%	0.03%	0.04%	0.04%	0.04%	0.04%	0.07%	0.1%	0.1%	0.09%
Return on Equity (ROE)	0.1%	0.1%	0.11%	0.12%	0.12%	0.12%	0.19%	0.26%	0.22%	0.19%
Debt / Equity	0.96x	0.87x	0.87x	0.84x	0.92x	0.97x	0.86x	0.68x	0.63x	0.61x
Debt / Assets	0.32%	0.3%	0.3%	0.3%	0.32%	0.33%	0.31%	0.29%	0.28%	0.28%
Net Debt / EBITDA	2.64x	3.12x	2.95x	2.98x	3.27x	3.67x	2.50x	1.48x	1.42x	1.47x
Book Value per Share	16.06	17.3	17.53	18.27	19.56	21.29	23.69	29.03	34.33	39.66

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	117.54M	163.39M	173.58M	143.45M	185.04M	211.92M	231.24M	389.31M	404.5M	452.73M
Operating CF Growth %	0.05%	0.39%	0.06%	-0.17%	0.29%	0.15%	0.09%	0.68%	0.04%	0.12%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	58.59M	62.04M	72.12M	82.34M	86.85M	95.85M	176.77M	284.18M	294.19M	301.66M
Depreciation & Amortization	60.36M	73.44M	72.55M	74.67M	78.09M	82.04M	91.36M	92.6M	97.95M	107.12M
Deferred Taxes	22.99M	17.47M	22.53M	17.82M	10.68M	13.98M	28.15M	31.68M	12.76M	22.88M
Other Non-Cash Items	-8.91M	-6.41M	16.08M	-23.67M	-24.29M	-7.43M	-13.86M	-18.18M	-7.64M	-8.59M
Working Capital Changes	-17.21M	13.67M	-13.34M	-12.16M	27.76M	21.2M	-58.09M	-7.79M	-518K	20.14M
Capital Expenditures+	-160.08M	-161.26M	-132.91M	-105.42M	-207.37M	-371.55M	-171.83M	-171.13M	-287.13M	-358.65M
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-155.97M	-159.32M	-132.59M	-107.42M	-209.47M	-375.65M	-171.51M	-175.07M	-289.29M	-411.37M
Acquisitions	-30.81M	1.5M	4.49M	2.38M	0	5.01M	0	4.35M	0	0
Purchase of Investments	-6.3M	-4.4M	-4.17M	-4.37M	-10.63M	-9.11M	-9.38M	-8.28M	-8.38M	-61.57M
Sale of Investments	1000K	1000K	0	0	0	-1000K	0	-1000K	0	0
Other Investing	92K	-156.42M	4.49M	2.38M	8.52M	5.01M	9.7M	4.35M	6.22M	8.85M
Cash from Financing+	38.43M	-4.06M	-24.77M	-51.38M	44.77M	143.69M	-59.36M	-96.78M	-3.83M	22.92M
Dividends Paid	-46.22M	-48.24M	-50.63M	-53.2M	-55.72M	-60.31M	-64.86M	-68.75M	-73.06M	-78.27M
Dividend Payout Ratio %	0.78%	0.77%	0.7%	0.65%	0.64%	0.63%	0.37%	0.24%	0.25%	0.26%
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	-1000K	1000K	1000K
Stock Issued	13.78M	44.44M	4.35M	-108K	20.34M	52.43M	696K	0	0	0
Share Repurchases	-1.6M	-104K	-1.8M	-3.01M	-2.73M	-2.07M	-1.51M	-2.94M	-3.09M	-6.46M
Other Financing	16.64M	-42.6M	2.05M	-869K	-4.34M	3.83M	-3.68M	-2.12M	-904K	-549K
Net Change in Cash+	0	0	-24.77M	-15.36M	20.34M	-20.04M	374K	117.46M	111.38M	64.28M
Exchange Rate Effect	0	0	-1000K	0	0	0	0	0	0	0
Cash at Beginning	2.01M	0	40.99M	16.22M	861K	21.2M	1.16M	1.54M	119M	230.37M
Cash at End	2.01M	0	16.22M	861K	21.2M	1.16M	1.54M	119M	230.37M	294.65M
Free Cash Flow+	-42.54M	2.13M	40.66M	38.02M	-22.33M	-159.63M	59.41M	218.18M	117.36M	94.08M
FCF Growth %	0.17%	1.05%	18.12%	-0.06%	-1.59%	-6.15%	1.37%	2.67%	-0.46%	-0.2%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	10.08%	9.77%	10.6%	11.55%	11.5%	11.6%	18.99%	25.74%	22.12%	19.39%
EBITDA Margin	21.75%	22.97%	23.39%	22.27%	23.16%	25.83%	28.5%	33.08%	35.27%	36.63%
Net Debt / EBITDA	2.64x	3.12x	2.95x	2.98x	3.27x	3.67x	2.50x	1.48x	1.42x	1.47x
Interest Coverage	3.50x	3.48x	4.26x	4.26x	4.29x	4.29x	6.61x	10.84x	10.03x	9.09x
CapEx / Revenue	20.53%	20.07%	15.65%	11.5%	22.55%	41.74%	14.36%	11.72%	21.28%	26.96%
Dividend Payout Ratio	77.89%	77.41%	69.9%	64.6%	64.16%	62.92%	36.69%	24.19%	24.83%	25.94%
Debt / Equity	0.96x	0.87x	0.87x	0.84x	0.92x	0.97x	0.86x	0.68x	0.63x	0.61x
EPS Growth	0.64%	1.9%	13.04%	13.19%	5.34%	7.83%	80.77%	60.28%	3.24%	2.43%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Electric	-	-	434.54M	-	-	446.09M	480.32M	549.7M	528.36M	524.51M
Electric Growth	-	-	-	-	-	-	7.67%	14.44%	-3.88%	-0.73%
Plastics	157.76M	154.9M	185.13M	-	-	205.25M	380.23M	512.53M	418.03M	463.44M
Plastics Growth	-	-1.81%	19.52%	-	-	-	85.25%	34.79%	-18.44%	10.86%
Manufacturing	215.01M	221.29M	229.74M	-	-	238.77M	336.29M	397.98M	402.78M	342.59M
Manufacturing Growth	-	2.92%	3.82%	-	-	-	40.84%	18.34%	1.21%	-14.94%
Product	-	-	-	466.25M	460.45M	-	-	-	-	-
Product Growth	-	-	-	-	-1.24%	-	-	-	-	-
Electricity	407.13M	427.38M	-	450.64M	458.02M	-	-	-	-	-
Electricity Growth	-	4.97%	-	-	1.64%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Otter Tail Corporation (OTTR) has a price-to-earnings (P/E) ratio of 12.3x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Otter Tail Corporation (OTTR) reported $1.30B in revenue for fiscal year 2024. This represents a 21% increase from $1.08B in 2011.

Otter Tail Corporation (OTTR) saw revenue decline by 1.4% over the past year.

Yes, Otter Tail Corporation (OTTR) is profitable, generating $279.0M in net income for fiscal year 2024 (22.7% net margin).

Dividend & Returns

Yes, Otter Tail Corporation (OTTR) pays a dividend with a yield of 2.11%. This makes it attractive for income-focused investors.

Otter Tail Corporation (OTTR) has a return on equity (ROE) of 19.4%. This is reasonable for most industries.

Otter Tail Corporation (OTTR) generated $106.7M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

Otter Tail Corporation (OTTR) has a dividend payout ratio of 26%. This suggests the dividend is well-covered and sustainable.

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