ALLETE, Inc. (ALE) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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ALE Revenue Growth
Revenue Breakdown (FY 2024)
ALE's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
ALE Revenue Analysis (2013–2024)
As of May 8, 2026, ALLETE, Inc. (ALE) generated trailing twelve-month (TTM) revenue of $1.50 billion, reflecting moderate decline in growth of -7.9% year-over-year. The most recent quarter (Q3 2025) recorded $375.0 million in revenue, up 4.1% sequentially.
Looking at the longer-term picture, ALE's 5-year compound annual growth rate (CAGR) stands at +4.3%, indicating moderate growth over time. The company achieved its highest annual revenue of $1.88 billion in 2023.
Revenue diversification analysis shows ALE's business is primarily driven by Regulated Operations (94%), and ALLETE Clean Energy (6%). With over half of revenue concentrated in Regulated Operations, the company maintains significant focus in this area while developing other growth vectors.
When compared to Utilities sector peers including NWE (+9.1% YoY), AVA (-1.5% YoY), and OTTR (-0.5% YoY), ALE has underperformed the peer group in terms of revenue growth. Compare ALE vs NWE →
ALE Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ALECurrent | $1.5B | -7.9% | +4.3% | 10.5% | |
 NWE | $1.6B | +9.1% | +6.1% | 20.2% | |
 AVA | $2.0B | -1.5% | +8.2% | 18.0% | |
 OTTR | $1.3B | -0.5% | +7.9% | 26.5% | |
 IDA | $1.8B | -1.5% | +6.1% | 21.9% | |
 XEL | $14.7B | +7.9% | +4.9% | 19.6% |
ALE Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $1.53B | -18.6% | $497.0M | 32.5% | $160.1M | 10.5% |
| 2023 | $1.88B | +19.7% | $489.9M | 26.1% | $180.9M | 9.6% |
| 2022 | $1.57B | +10.7% | $446.8M | 28.4% | $134.2M | 8.5% |
| 2021 | $1.42B | +21.4% | $453.5M | 32.0% | $151.3M | 10.7% |
| 2020 | $1.17B | -5.8% | $424.8M | 36.3% | $150.9M | 12.9% |
| 2019 | $1.24B | -17.2% | $435.1M | 35.1% | $179.8M | 14.5% |
| 2018 | $1.50B | +5.6% | $462.7M | 30.9% | $199.2M | 13.3% |
| 2017 | $1.42B | +5.9% | $459.6M | 32.4% | $229.1M | 16.1% |
| 2016 | $1.34B | -9.9% | $456.3M | 34.1% | $213.2M | 15.9% |
| 2015 | $1.49B | +30.8% | $468.4M | 31.5% | $251.8M | 16.9% |
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Start ComparisonALE — Frequently Asked Questions
Quick answers to the most common questions about buying ALE stock.
Is ALE's revenue growth accelerating or slowing?
ALE revenue declined -7.9% year-over-year, contrasting with the 5-year CAGR of +4.3%. TTM revenue fell to $1.5B. This reverses the prior growth trend.
What is ALE's long-term revenue growth rate?
ALLETE, Inc.'s 5-year revenue CAGR of +4.3% reflects the variable expansion pattern. Current YoY growth of -7.9% is below this long-term average.
How is ALE's revenue distributed by segment?
ALE reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.