Algonquin Power & Utilities Cor (AQNB) Revenue History
Annual and quarterly revenue from 2013 to present
AQNB Revenue Over Time (2013–2024)
AQNB Revenue Growth History
8 of 11 years with positive growth- FY2013 revenue growth
- N/A
- FY2014 revenue growth
- +27.9%
- FY2015 revenue growth
- -8.5%
- FY2016 revenue growth
- +10.7%
- FY2017 revenue growth
- +92.5%
- FY2018 revenue growth
- -2.1%
- FY2019 revenue growth
- +5.9%
- FY2020 revenue growth
- +5.7%
- FY2021 revenue growth
- +26.6%
- FY2022 revenue growth
- +18.0%
- FY2023 revenue growth
- +4.0%
- FY2024 revenue growth
- -14.0%
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2025 | $527.8M | +24.4% |
| Q1 2025 | $692.4M | -6.1% |
| Q4 2024 | $584.8M | -14.4% |
| Q3 2024 | $573.2M | -8.3% |
| Q2 2024 | $424.4M | -32.8% |
| Q1 2024 | $737.1M | -4.5% |
| Q4 2023 | $682.9M | -6.4% |
| Q3 2023 | $624.8M | +3.0% |
Multi-year avg. share of annual revenue by fiscal quarter
AQNB Revenue Analysis (2013–2024)
Current Revenue & Growth
As of June 28, 2026, Algonquin Power & Utilities Cor (AQNB) generated trailing twelve-month (TTM) revenue of $2.38 billion, reflecting exceptional growth of +24.4% year-over-year. The most recent quarter (Q2 2025) recorded $527.8 million in revenue, down 23.8% sequentially.
Historical Growth Trajectory
AQNB's 5-year compound annual growth rate (CAGR) stands at +7.2%, indicating steady revenue expansion. The 3-year CAGR of +1.8% is below the 5-year average, signalling a growth deceleration in recent years. Algonquin Power & Utilities Cor's highest annual revenue of $2.70 billion was recorded in 2023.
Peer Comparison
Compared to Utilities sector peers — including AES (+3.0% YoY), NI (+15.0% YoY), and PNW (+4.8% YoY) — AQNB has outperformed the peer group in revenue growth. Compare AQNB vs AES →
AQNB Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| AQNBCurrent | $2.4B | +24.4% | +7.2% | 19.2% | |
 AES | $12.2B | +3.0% | +4.8% | 16.1% | |
 NI | $6.6B | +15.0% | +7.2% | 27.6% | |
 PNW | $5.3B | +4.8% | +8.3% | 20.9% | |
 AVA | $2.0B | -1.5% | +8.2% | 18.0% | |
 OTTR | $1.3B | -0.5% | +7.9% | 26.5% |
AQNB Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $2.32B | -14.0% | $845.3M | 36.4% | $446.1M | 19.2% |
| 2023 | $2.70B | +4.0% | $836.5M | 31.0% | $467.3M | 17.3% |
| 2022 | $2.59B | +18.0% | $507.0M | 19.5% | $402.0M | 15.5% |
| 2021 | $2.20B | +26.6% | $394.6M | 18.0% | $413.1M | 18.8% |
| 2020 | $1.74B | +5.7% | $438.5M | 25.3% | $384.0M | 22.1% |
| 2019 | $1.64B | +5.9% | $413.9M | 25.2% | $355.8M | 21.7% |
| 2018 | $1.55B | -2.1% | $394.9M | 25.5% | $344.9M | 22.2% |
| 2017 | $1.58B | +92.5% | $438.2M | 27.7% | $386.8M | 24.4% |
| 2016 | $822.9M | +10.7% | $215.0M | 26.1% | $180.5M | 21.9% |
| 2015 | $743.7M | -8.5% | $164.0M | 22.0% | $134.7M | 18.1% |
| 2014 | $813.1M | +27.9% | $247.6M | 30.4% | $119.1M | 14.7% |
| 2013 | $635.7M | - | $209.9M | 33.0% | $97.3M | 15.3% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
13+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
AQNB — Frequently Asked Questions
Quick answers to the most common questions about buying AQNB stock.
Is AQNB's revenue growth accelerating or slowing?
AQNB revenue growth is accelerating. TTM revenue reached $2.4B, up +24.4% year-over-year — ahead of the 5-year CAGR of +7.2%. This indicates the business is expanding faster than its historical baseline.
What is AQNB's revenue history from 2013 to 2026?
Algonquin Power & Utilities Cor (AQNB) revenue history spans 2013 to 2026. TTM revenue as of 2026 is $2.4B, growing at +24.4% YoY. The 5-year CAGR is +7.2%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is AQNB's long-term revenue growth rate (CAGR)?
Algonquin Power & Utilities Cor's 5-year revenue CAGR of +7.2% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +24.4% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for AQNB.
Why does AQNB's quarterly revenue fluctuate?
AQNB quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Algonquin Power & Utilities Cor's revenue data from 2013 to 2026 shows full historical quarterly detail on this page.
How is AQNB's revenue distributed by segment?
AQNB reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does AQNB's revenue compare to industry peers?
Algonquin Power & Utilities Cor (AQNB) with TTM revenue of $2.4B and +24.4% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.