Latest Ratios: P/E Ratio 170.4x · EV/EBITDA 30.2x · ROE -21.0%. (2013–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $18.8B | $18.5B | $16.7B | $14.5B | $17.1B | $15.9B | $14.2B | — | — | — | — |
| Enterprise Value | $25.5B | $25.2B | $25.2B | $21.9B | $23.2B | $20.3B | $18.1B | — | — | — | — |
| P/E Ratio → | 170.40 | 168.13 | 804.33 | — | 68.00 | 19.54 | 26.60 | — | — | — | — |
| P/S Ratio | 8.09 | 7.98 | 6.18 | 5.57 | 7.78 | 9.15 | 8.67 | — | — | — | — |
| P/B Ratio | 3.04 | 2.99 | 2.40 | 2.02 | 2.22 | 2.65 | 3.00 | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | 38.95 | 38.43 | 26.54 | 24.31 | 109.61 | 29.86 | 22.76 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 10.87 | 9.33 | 8.45 | 10.56 | 11.72 | 11.03 | — | — | — | — |
| EV / EBITDA | 30.24 | 29.94 | 30.64 | 25.57 | 28.44 | 29.12 | 28.01 | — | — | — | — |
| EV / EBIT | 57.06 | 57.88 | 54.40 | 43.81 | 65.35 | 59.60 | 23.51 | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.4% | 36.4% | 31.0% | 19.5% | 18.0% | 25.3% | 25.2% | 25.5% | 27.7% | 26.1% | 22.0% |
| Operating Margin | 19.2% | 19.2% | 17.3% | 15.5% | 18.8% | 22.1% | 21.7% | 22.2% | 24.4% | 21.9% | 18.1% |
| Net Profit Margin | -59.5% | -59.5% | 0.8% | -7.8% | 11.9% | 47.5% | 33.1% | 11.3% | 9.7% | 11.9% | 11.4% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -21.0% | -21.0% | 0.3% | -2.7% | 3.8% | 15.4% | 12.4% | 4.7% | 5.9% | 5.5% | 5.2% |
| ROA | -7.8% | -7.8% | 0.1% | -1.2% | 1.8% | 6.8% | 5.3% | 2.0% | 2.1% | 2.0% | 2.4% |
| ROIC | 2.4% | 2.4% | 2.3% | 2.1% | 2.6% | 3.0% | 3.3% | 3.8% | 5.1% | 3.5% | 3.8% |
| ROCE | 2.8% | 2.8% | 2.9% | 2.6% | 3.0% | 3.4% | 3.8% | 4.1% | 5.7% | 4.0% | 4.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.09 | 1.09 | 1.23 | 1.05 | 0.81 | 0.76 | 0.83 | 0.83 | 0.92 | 1.71 | 0.65 |
| Debt / EBITDA | 7.99 | 7.99 | 10.41 | 8.78 | 7.63 | 6.52 | 6.09 | 5.64 | 4.79 | 10.00 | 4.47 |
| Net Debt / Equity | — | 1.08 | 1.22 | 1.04 | 0.79 | 0.74 | 0.82 | 0.82 | 0.91 | 1.66 | 0.60 |
| Net Debt / EBITDA | 7.95 | 7.95 | 10.34 | 8.71 | 7.48 | 6.38 | 6.00 | 5.56 | 4.72 | 9.74 | 4.10 |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | 1.20 | 1.20 | 1.23 | 1.80 | 1.66 | 1.66 | 3.99 | 1.87 | 2.08 | 1.95 | 2.89 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.76 | 0.76 | 0.63 | 0.71 | 0.69 | 0.73 | 0.59 | 0.99 | 0.88 | 0.90 | 1.08 |
| Quick Ratio | 0.61 | 0.61 | 0.50 | 0.57 | 0.56 | 0.59 | 0.48 | 0.79 | 0.72 | 0.83 | 1.01 |
| Cash Ratio | 0.02 | 0.02 | 0.03 | 0.04 | 0.09 | 0.11 | 0.07 | 0.09 | 0.11 | 0.34 | 0.36 |
| Asset Turnover | — | 0.14 | 0.15 | 0.15 | 0.13 | 0.13 | 0.15 | 0.16 | 0.19 | 0.13 | 0.21 |
| Inventory Turnover | 6.59 | 6.59 | 9.46 | 9.28 | 10.16 | 9.63 | 13.47 | 12.08 | 12.79 | 21.92 | 28.25 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.6% | 1.6% | 2.0% | 2.6% | 1.8% | 1.7% | 1.5% | — | — | — | — |
| Payout Ratio | — | — | 1658.1% | — | 119.4% | 33.5% | 38.6% | 94.3% | 93.5% | 98.2% | 76.2% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.6% | 0.6% | 0.1% | — | 1.5% | 5.1% | 3.8% | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 1.6% | 1.6% | 2.0% | 2.6% | 1.9% | 1.8% | 1.5% | — | — | — | — |
| Shares Outstanding | — | $734M | $691M | $678M | $629M | $564M | $505M | $466M | $386M | $274M | $257M |
Strategic transition execution risk
According to current market data, AQNB trades at a P/E of 170.40, which appears to reflect extreme earnings volatility rather than fundamental utility growth, as the market struggles to price the company's transition toward a simplified, pure-play regulated utility model following recent asset divestitures.
The elevated P/E multiple is likely a byproduct of depressed earnings rather than a premium valuation, suggesting that investors should monitor the company's ability to stabilize net income before relying on traditional valuation metrics. Given the dividend yield of 1.6%, the stock currently offers a lower income return than many traditional utility peers, which may indicate that the market is pricing in significant execution risk regarding the renewable divestiture.
Based on the reported quarterly figures, the company's ROE has fluctuated between -18.6% and 3.7%, which suggests a significant and persistent gap between earned returns and the typical regulatory authorized ROE expected for a utility of this scale and geographic footprint.
This wide variance in ROE indicates that the company is currently failing to achieve the constructive regulatory outcomes necessary to support its rate base investment. Investors should investigate whether this lag is driven by structural cost inefficiencies or the ongoing impact of non-recurring impairment charges that continue to distort the company's profitability metrics.
As reported in recent financial statements, the debt-to-capital ratio has remained elevated near 0.55, which, when combined with an interest coverage ratio as low as 1.12 in 2025Q2, suggests that the company's balance sheet remains highly vulnerable during its current strategic restructuring phase.
The tight interest coverage ratio implies that the company has limited financial flexibility to absorb further operational shocks or unexpected regulatory costs. The reliance on debt to fund capital requirements, despite the ongoing divestiture of the renewable segment, warrants further investigation into the long-term sustainability of the current capital structure.
The most commonly misapplied metric for AQNB is the trailing P/E ratio, which, as indicated by the reported 170.40 figure, obscures the underlying cash-generating capacity of the regulated utility assets by including massive, non-recurring impairment charges that do not reflect ongoing operational performance.
Analysts should instead prioritize EV/EBITDA or FFO-based valuation multiples to bypass the accounting distortions caused by the company's recent strategic pivots and asset write-downs. Relying on P/E in this context may lead to an incorrect assessment of the company's value, as it treats one-time accounting losses as permanent reductions in earnings power.
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying AQNB stock.
Algonquin Power & Utilities Cor's current P/E ratio is 170.4x. The historical average is 70.6x. This places it at the 100th percentile of its historical range.
Algonquin Power & Utilities Cor's current EV/EBITDA is 30.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 28.6x.
Algonquin Power & Utilities Cor's return on equity (ROE) is -21.0%. The historical average is 2.9%.
Based on historical data, Algonquin Power & Utilities Cor is trading at a P/E of 170.4x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Algonquin Power & Utilities Cor's current dividend yield is 1.58%.
Algonquin Power & Utilities Cor has 36.4% gross margin and 19.2% operating margin. Operating margin between 10-20% is typical for established companies.
Algonquin Power & Utilities Cor's Debt/EBITDA ratio is 8.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.