Upside case
Bull case
—
The bull case requires both strong earnings delivery and the market pricing AQNB more generously than it does today.
Analysis OverviewNo CoverageUpdated —
Algonquin Power & Utilities Cor (AQNB) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Mixed
Covering
—
analysts
0 bullish · 0 bearish · 0 covering AQNB
Strong Buy
0
Buy
0
Hold
0
Sell
0
Strong Sell
0
Consensus Target
—
— vs today
Scenario Range
— – —
Model bear to bull value window
Coverage
—
Published analyst ratings
Valuation Context
—
Forward P/E · Market cap $19.2B
AQNB price targets
Three scenarios for where AQNB stock could go
Current
~$26
Confidence
46 / 100
Updated
—
Market caseClosest to today
Base case
—
The base case reflects analyst consensus expectations — steady delivery without requiring a major catalyst or re-rating.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Algonquin Power & Utilities Cor
AQNB · NYSEUtilitiesRegulated ElectricDecember year-end
Algonquin Power & Utilities is a diversified utility company that operates regulated water, gas, and electric distribution systems while also developing renewable energy projects. It generates revenue through regulated utility operations — which provide stable cash flows — and renewable energy generation, primarily from wind and solar assets. The company benefits from a dual-moat structure combining regulated monopoly utility operations with growth opportunities in renewable energy development.
Market Cap
$19.2B
Revenue TTM
$2.4B
Net Income TTM
-$1.4B
Net Margin
-57.7%
AQNB Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
—No data
0 quarters tracked
Revenue Beat Rate
—No data
vs consensus estimates
Avg EPS Surprise
—
above Street consensus
Last 4 Quarters
Earnings surprise history is not available for this ticker yet.
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Earnings surprise history is not available for this ticker yet. | ||||
FY1–FY2 Estimates
Revenue Outlook
FY1
$2.3B
-5.0% YoY
FY2
$2.1B
-5.0% YoY
EPS Outlook
FY1
$-1.45
+18.5% YoY
FY2
$-1.16
+19.9% YoY
Trailing FCF (TTM)$2.6B
FCF Margin: 109.0%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
AQNB Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Overvalued
Fair value est. $13 — implies -51.3% from today's price.
Premium to Fair Value
51.3%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
AQNB
174.1x
vs
S&P 500
25.2x
+590% premium
vs Utilities Trailing P/E
AQNB
174.1x
vs
Utilities
19.7x
+782% premium
vs AQNB 5Y Avg P/E
Today
174.1x
vs
5Y Average
85.2x
+104% premium
Forward PE
—
S&P 500
19.1x
—
Utilities
17.2x
—
5Y Avg
—
—
Trailing PE
174.1x
S&P 500
25.2x
+590%
Utilities
19.7x
+782%
5Y Avg
85.2x
+104%
PEG Ratio
—
S&P 500
1.75x
—
Utilities
1.73x
—
5Y Avg
—
—
EV/EBITDA
30.7x
S&P 500
15.3x
+101%
Utilities
11.5x
+166%
5Y Avg
28.7x
+7%
Price/FCF
—
S&P 500
21.3x
—
Utilities
15.4x
—
5Y Avg
—
—
Price/Sales
8.3x
S&P 500
3.1x
+164%
Utilities
2.2x
+278%
5Y Avg
7.3x
+13%
Dividend Yield
1.54%
S&P 500
1.88%
-18%
Utilities
3.07%
-50%
5Y Avg
1.95%
-21%
| Metric | AQNB | S&P 500 | Utilities | 5Y Avg AQNB |
|---|---|---|---|---|
| Forward PE | — | 19.1x | 17.2x | — |
| Trailing PE | 174.1x | 25.2x+590% | 19.7x+782% | 85.2x+104% |
| PEG Ratio | — | 1.75x | 1.73x | — |
| EV/EBITDA | 30.7x | 15.3x+101% | 11.5x+166% | 28.7x |
| Price/FCF | — | 21.3x | 15.4x | — |
| Price/Sales | 8.3x | 3.1x+164% | 2.2x+278% | 7.3x+13% |
| Dividend Yield | 1.54% | 1.88% | 3.07% | 1.95% |
AQNB trades above S&P 500 benchmarks on 3 of 3 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolAQNB Financial Health
Verdict
Stressed
AQNB earns 19.4% operating margin on regulated earnings, 1.5% dividend yield. Utilities carry higher leverage than industrials as a structural feature of the business model.
Regulated Operations
Revenue, regulated margins, and earnings
Revenue (TTM)
Trailing-twelve-month sales base
$2.4B
Revenue Growth
TTM vs prior year
-3.7%
Operating Margin
Operating income divided by revenue
19.4%
Net Margin
Net income divided by revenue
-57.7%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$-1.78
Operating Margin
Operating income over revenue — primary regulated earnings signal
19.4%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
2.4%
ROA
Return on assets, trailing twelve months
-10.0%
Cash & Equivalents
Liquid assets on the balance sheet
$35M
Net Debt
Total debt minus cash
$6.7B
Debt Serviceability
Net debt as a multiple of annual free cash flow
2.6× FCF
Regulated utilities typically operate at 3–5× net debt/FCF — this is structural, not a risk flag.
ROE
Return on equity, trailing twelve months
-26.7%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
1.6%
Dividend
1.5%
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$3M
Dividend / Share
Annualized trailing dividend per share
$0.40
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
734M
All figures from the trailing twelve months. Utilities operate with structural leverage (3–5× net debt/FCF) due to regulated, predictable cash flows.
Open full ratios pageAQNB Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Refinancing Risk
Algonquin Power & Utilities Corp. has $500 million in maturing notes that may need to be refinanced at higher interest rates if market conditions tighten, potentially increasing financial burdens.
High Risk
Regulatory Risk
The company faces four pending rate cases totaling $115 million, which could negatively impact earnings if not resolved favorably, posing a significant risk to financial stability.
High Risk
Debt Burden
AQNB carries a substantial long-term debt load of approximately $7.5 billion as of December 2025, which significantly impacts its profitability and free cash flow.
Medium
Interest Coverage
With an interest coverage ratio of 2.8x, AQNB is close to covenant thresholds, compared to an industry benchmark of 3.5x, indicating potential challenges in meeting interest obligations.
Medium
Growth Risk
The projected annual growth rate of 4-6% may fall short of investor expectations, especially when compared to more diversified peers, which could affect stock performance.
Medium
Execution Risk
The company faces execution challenges with restructuring costs of $65 million and potential additional IT separation costs of $10 million, which may hinder operational efficiency.
Lower
Interest Rate Sensitivity
AQNB has exposure to floating interest rates on a portion of its debt, which could lead to increased interest expenses in a rising rate environment.
Lower
Operational Performance
Concerns have been raised regarding a weak current ratio of 0.76 and a trailing twelve months (TTM) net profit margin of -1.11%, indicating potential operational inefficiencies.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why AQNB Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Diversified Business Model
AQNB operates through two main segments: Regulated Services Group and Renewable Energy Group. This diversification provides a stable revenue base from regulated utilities while also capitalizing on the growing demand for renewable energy.
Renewable Energy Focus
The company's investment in renewable energy aligns with global trends towards sustainability and can position it for future growth as the demand for clean energy increases.
Consistent Dividend Payments
AQNB has a history of maintaining dividend payments, which can be attractive to income-seeking investors. The company has maintained dividend payments for an impressive 27 consecutive years, with a current dividend yield of around 8.13%.
Positive Technical Indicators
Several technical indicators suggest a 'Buy' or 'Strong Buy' for AQNB. Moving averages, including 5-day, 50-day, and 200-day, indicate a positive outlook, while the Relative Strength Index (RSI) and MACD also suggest a buy.
Recent Performance
The stock has shown resilience, with a 1-year change of 7.73% and reaching a 52-week high at one point. Despite some fluctuations, the overall trend has been positive.
Operational Efficiency
The company demonstrates operational efficiency with an operating income margin of 25.69%, showcasing its ability to manage costs effectively while generating revenue.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
AQNB Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$26.11
52W Range Position
85%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$25.08
+4.1% from the low
52-Week High
$26.29
-0.7% from the high
1 Month
+0.31%
3 Month
+0.77%
YTD
+2.1%
1 Year
+3.7%
3Y CAGR
+3.9%
5Y CAGR
-1.4%
10Y CAGR
+0.2%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
AQNB vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
—
vs 16.1x median
Peer median unavailable
Revenue Growth
-5.0%
vs +3.4% median
-249% below peer median
Net Margin
-57.7%
vs 12.0% median
-581% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
AQN AQNB Algonquin Power & Utilities Cor | $19.2B | — | -5.0% | -57.7% | — | — |
AES AES The AES Corporation | $10.2B | 6.2x | +0.4% | 8.4% | Hold | +27.3% |
NI NI NiSource Inc. | $22.7B | 23.1x | +8.5% | 14.1% | Buy | +4.9% |
PNW PNW Pinnacle West Capital Corporation | $12.1B | 21.2x | +4.3% | 12.0% | Hold | +2.9% |
AVA AVA Avista Corporation | $3.3B | 15.8x | +3.4% | 9.8% | Hold | +0.2% |
OTT OTTR Otter Tail Corporation | $3.7B | 16.1x | -0.5% | 21.3% | Hold | -8.9% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
AQNB Dividend and Capital Return
AQNB returns 1.6% total yield, led by a 1.54% dividend.
Dividend UnknownFCF Well Covered
Total Shareholder Yield
1.6%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
1.54%
Payout Ratio
—
How AQNB Splits Its Return
Div 1.54%
Dividend 1.54%Buybacks 0.0%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.40
Growth Streak
Consecutive years of dividend increases
2Y
3Y Div CAGR
11.6%
5Y Div CAGR
6.8%
Ex-Dividend Date
—
Payment Cadence
Semi-Annual
5 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$3M
Estimated Shares Retired
133.4K
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
734M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $1.00 | — | — | — |
| 2025 | $2.15 | +10.1% | — | — |
| 2024 | $1.96 | +26.1% | 0.0% | 1.6% |
| 2023 | $1.55 | 0.0% | 0.0% | 2.0% |
| 2022 | $1.55 | 0.0% | 0.0% | 2.6% |
FAQ
6 questionsAQNB Investor Questions
Common questions answered from live analyst data and company financials.
01Is Algonquin Power & Utilities Cor (AQNB) stock a buy or sell in 2026?
Algonquin Power & Utilities Cor (AQNB) has limited published analyst coverage at this time. Use the scenario targets and valuation multiples on this page as a guide.
02Is Algonquin Power & Utilities Cor (AQNB) stock overvalued in 2026?
Forward earnings data for AQNB is not currently available. Review the valuation table above for trailing P/E, EV/EBITDA, and price-to-sales comparisons against market and sector benchmarks.
03What are the main risks for Algonquin Power & Utilities Cor (AQNB) stock in 2026?
The primary risks for AQNB in 2026 are: (1) Refinancing Risk — Algonquin Power & Utilities Corp. (2) Regulatory Risk — The company faces four pending rate cases totaling $115 million, which could negatively impact earnings if not resolved favorably, posing a significant risk to financial stability. (3) Debt Burden — AQNB carries a substantial long-term debt load of approximately $7. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
04What is Algonquin Power & Utilities Cor's revenue and earnings forecast?
Analyst consensus estimates AQNB will report consensus revenue of $2.3B (-5.0% year-over-year) and EPS of $-1.45 (+18.5% year-over-year) for the upcoming fiscal year. The following year, analysts project $2.1B in revenue.
05When does Algonquin Power & Utilities Cor (AQNB) report its next earnings?
A confirmed upcoming earnings date for AQNB is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
06How much free cash flow does Algonquin Power & Utilities Cor generate?
Algonquin Power & Utilities Cor (AQNB) generated $2.6B in free cash flow over the trailing twelve months — a free cash flow margin of 109.0%. AQNB returns capital to shareholders through dividends (1.5% yield) and share repurchases ($3M TTM).