IDACORP, Inc. (IDA) 10-Year Financial Performance & Capital Metrics

IDA • • Utilities

UtilitiesElectric UtilitiesRegional Electric UtilitiesSingle-State Electric Utilities

AboutIDACORP, Inc., together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada. As of December 31, 2021, it had approximately 4,843 pole-miles of high-voltage transmission lines; 23 step-up transmission substations located at power plants; 21 transmission substations; 10 switching stations; 30 mixed-use transmission and distribution substations; 187 energized distribution substations; and 28,570 pole-miles of distribution lines, as well as provides electric utility services to approximately 604,000 retail customers in southern Idaho and eastern Oregon. The company serves commercial and industrial customers, which involved in food processing, electronics and general manufacturing, agriculture, health care, government, and education. It also invests in housing and other real estate tax credit investments. IDACORP, Inc. was founded in 1915 and is headquartered in Boise, Idaho.Show more

Revenue $1.83B +3.4%
EBITDA $556M +8.3%
Net Income $289M +10.7%
Free Cash Flow -$415M -20.6%
EBITDA Margin 30.43% +4.7%
Net Margin 15.83% +7.1%
ROE 9.25% +1.4%
Interest Coverage 2.41 -10.4%
Debt/Equity 0.92 -5.0%
Net Debt/EBITDA 4.87
CapEx / Revenue 55.25% +59.7%
CapEx Coverage 0.59 +34.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓14 years of consecutive dividend growth
✓14 consecutive years of dividend growth
✓Healthy dividend yield of 2.5%
✓Trading near 52-week high

✗Weaknesses

✗High leverage: 5.5x Debt/EBITDA

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.6%

5Y6.29%

3Y7.8%

TTM-1.88%

Profit (Net Income) CAGR

10Y4.1%

5Y4.43%

3Y5.6%

TTM12.45%

EPS CAGR

10Y3.63%

5Y3.59%

3Y4.28%

TTM7.98%

ROCE

10Y Avg4.74%

5Y Avg4.5%

3Y Avg4.31%

Latest4%

Peer Comparison

Single-State Electric Utilities

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
IDAIDACORP, Inc.	7.17B	132.73	24.13	3.41%	17.59%	9.11%	0.92
TXNMTXNM Energy, Inc.	6.43B	59.03	22.11	1.65%	8.41%	5.11%	2.25
EVRGEvergy, Inc.	17.45B	75.78	19.99	6.17%	14.41%	8.4%	1.41
OGEOGE Energy Corp.	9.01B	43.72	19.96	11.63%	15.28%	10.49%	1.19
EIXEdison International	23.67B	61.52	18.59	7.72%	17.61%	16.48%	2.13
PNWPinnacle West Capital Corporation	11.09B	92.69	17.69	9.13%	11.2%	8.24%	1.61
PORPortland General Electric Company	5.55B	49.30	16.38	17.69%	8.82%	7.67%	1.36
PCGPacific Gas & Electric Co.	34.68B	15.78	13.72	-0.04%	10.93%	8.4%	1.92

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	1.27B	1.26B	1.35B	1.37B	1.35B	1.35B	1.46B	1.64B	1.77B	1.83B
Revenue Growth %	-0.01%	-0.01%	0.07%	0.02%	-0.02%	0%	0.08%	0.13%	0.07%	0.03%
Cost of Revenue	940.25M	946.63M	994.83M	1.07B	1.05B	1.04B	1.13B	1.31B	1.45B	1.49B
Gross Profit+	330.03M	315.39M	354.66M	299.43M	301.1M	312.17M	332.24M	330.11M	316.84M	331.85M
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.1%	-0.04%	0.12%	-0.16%	0.01%	0.04%	0.06%	-0.01%	-0.04%	0.05%
Operating Expenses+	47.94M	31.81M	39.11M	2.5M	2.77M	2.65M	2.59M	2.93M	3.36M	4.01M
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	424.68M	430.88M	481.48M	466.04M	472.13M	485.46M	509.1M	500.73M	513.38M	555.93M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	0.09%	0.01%	0.12%	-0.03%	0.01%	0.03%	0.05%	-0.02%	0.03%	0.08%
Depreciation & Amortization+	142.58M	147.29M	165.93M	169.12M	173.8M	175.94M	179.44M	173.56M	199.91M	228.09M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	282.1M	283.58M	315.55M	296.92M	298.33M	309.52M	329.65M	327.18M	313.48M	327.84M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.11%	0.01%	0.11%	-0.06%	0%	0.04%	0.07%	-0.01%	-0.04%	0.05%
Interest Expense+	81.93M	82.03M	83.75M	85.95M	86.47M	87.43M	86.7M	89.38M	116.46M	135.87M
Interest Coverage	3.44x	3.46x	3.77x	3.45x	3.45x	3.54x	3.80x	3.66x	2.69x	2.41x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Pretax Income+	240.24M	234.52M	261.85M	244.91M	257.83M	266.67M	282.78M	297.4M	289.19M	305M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	45.76M	36.43M	48.66M	17.39M	24.51M	28.7M	36.91M	37.84M	27.3M	15.05M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	194.68M	198.29M	212.42M	226.8M	232.85M	237.42M	245.55M	258.98M	261.19M	289.17M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.01%	0.02%	0.07%	0.07%	0.03%	0.02%	0.03%	0.05%	0.01%	0.11%
EPS (Diluted)+	3.87	3.94	4.21	4.49	4.61	4.69	4.85	5.11	5.14	5.50
EPS Growth %	0.01%	0.02%	0.07%	0.07%	0.03%	0.02%	0.03%	0.05%	0.01%	0.07%
EPS (Basic)	3.88	3.94	4.22	4.50	4.61	4.70	4.85	5.11	5.15	5.50
Diluted Shares Outstanding	50.29M	50.37M	50.42M	50.51M	50.54M	50.57M	50.65M	50.7M	50.81M	52.62M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	6.02B	6.29B	6.05B	6.38B	6.64B	7.1B	7.21B	7.54B	8.48B	9.24B
Asset Growth %	0.05%	0.04%	-0.04%	0.06%	0.04%	0.07%	0.02%	0.05%	0.12%	0.09%
PP&E (Net)+	3.99B	4.17B	4.28B	4.4B	4.53B	4.71B	4.9B	5.17B	5.75B	6.52B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	462.04M	440.31M	443.6M	597.64M	565.15M	642.4M	595.87M	693.65M	1B	988.46M
Cash & Equivalents	114.8M	61.48M	76.65M	267.49M	217.25M	275.12M	215.24M	177.58M	327.43M	368.87M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	118.74M	111.56M	112.38M	102.97M	114.11M	96.59M	95.6M	107.22M	160.47M	244.72M
Other Current Assets	49.5M	68.53M	48.63M	52.36M	57.03M	65.4M	76.93M	120.39M	226.31M	89.31M
Long-Term Investments	140.74M	125.16M	115.7M	101.18M	98.22M	126.95M	123.82M	121.35M	163.97M	161.34M
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	11.59M	9.49M	0	0	0	0	0	0	0	0
Other Assets	1.42B	1.54B	1.2B	1.29B	1.45B	1.62B	1.59B	1.56B	1.56B	1.57B
Total Liabilities	3.96B	4.13B	3.79B	4.01B	4.17B	4.53B	4.54B	4.73B	5.56B	5.9B
Total Debt+	1.75B	1.77B	1.75B	1.83B	1.84B	2B	2B	2.19B	2.83B	3.07B
Net Debt	1.63B	1.71B	1.67B	1.57B	1.62B	1.73B	1.79B	2.02B	2.5B	2.7B
Long-Term Debt	1.73B	1.74B	1.75B	1.83B	1.74B	2B	2B	2.19B	2.78B	3.05B
Short-Term Borrowings	1000K	1000K	0	0	1000K	0	0	0	1000K	1000K
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Total Current Liabilities+	242.31M	249.72M	200.75M	258.59M	374.86M	287.57M	325.62M	548.57M	634.08M	700.8M
Accounts Payable	95.53M	106.19M	90.28M	110.82M	110.75M	120.58M	145.98M	292.72M	308.5M	307.13M
Accrued Expenses	22.29M	22.38M	22.38M	23.62M	21M	24.03M	23.96M	24.06M	38.29M	42.68M
Deferred Revenue	31.21M	21.44M	18.41M	20.04M	28.45M	29.34M	43.47M	72.22M	104.3M	165.23M
Other Current Liabilities	61.45M	65.49M	58.6M	92.1M	103.16M	94.12M	97.98M	151M	126.33M	158.89M
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	856.18M	893.45M	1.18B	1.21B	1.31B	1.44B	1.37B	1.11B	1.27B	1.32B
Total Equity+	2.06B	2.16B	2.26B	2.38B	2.47B	2.57B	2.68B	2.81B	2.91B	3.34B
Equity Growth %	0.05%	0.05%	0.05%	0.05%	0.04%	0.04%	0.04%	0.05%	0.04%	0.15%
Shareholders Equity	2.06B	2.15B	2.25B	2.37B	2.46B	2.56B	2.67B	2.81B	2.91B	3.33B
Minority Interest	4.16M	3.96M	4.73M	5.45M	5.92M	6.48M	6.8M	7.38M	7.17M	7M
Common Stock	849.11M	851.83M	857.21M	863.59M	868.31M	869.24M	874.9M	882.19M	888.62M	1.19B
Additional Paid-in Capital	849.11M	851.83M	857.21M	863.59M	0	0	0	0	0	0
Retained Earnings	1.23B	1.32B	1.43B	1.53B	1.63B	1.73B	1.83B	1.94B	2.04B	2.15B
Accumulated OCI	-21.28M	-20.88M	-30.96M	-22.84M	-36.28M	-43.36M	-40.04M	-12.92M	-17.18M	-13.59M
Return on Assets (ROA)	0.03%	0.03%	0.03%	0.04%	0.04%	0.03%	0.03%	0.04%	0.03%	0.03%
Return on Equity (ROE)	0.1%	0.09%	0.1%	0.1%	0.1%	0.09%	0.09%	0.09%	0.09%	0.09%
Debt / Equity	0.85x	0.82x	0.77x	0.77x	0.74x	0.78x	0.75x	0.78x	0.97x	0.92x
Debt / Assets	0.29%	0.28%	0.29%	0.29%	0.28%	0.28%	0.28%	0.29%	0.33%	0.33%
Net Debt / EBITDA	3.84x	3.96x	3.47x	3.36x	3.43x	3.55x	3.51x	4.03x	4.87x	4.87x
Book Value per Share	41	42.84	44.74	47.04	48.89	50.75	52.82	55.52	57.37	63.44

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+	353.19M	347.71M	438.02M	491.63M	366.63M	388.13M	363.26M	351.29M	267.03M	594.42M
Operating CF Growth %	-0.03%	-0.02%	0.26%	0.12%	-0.25%	0.06%	-0.06%	-0.03%	-0.24%	1.23%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	194.47M	198.09M	213.19M	227.52M	233.33M	237.97M	245.87M	259.56M	261.89M	289.95M
Depreciation & Amortization	142.58M	147.29M	165.93M	169.12M	173.8M	175.94M	179.44M	173.56M	199.91M	228.09M
Deferred Taxes	38.65M	35.73M	33.24M	11.29M	22.39M	25.18M	23.9M	-511K	39.61M	-17.59M
Other Non-Cash Items	-16.7M	-25.63M	40.59M	38.06M	-34.67M	-68.57M	-66.44M	-116.92M	-77.21M	95.88M
Working Capital Changes	-5.81M	-11.29M	-17.8M	45.63M	-28.22M	17.61M	-19.51M	35.6M	-157.17M	-1.91M
Capital Expenditures+	-294.02M	-296.95M	-285.49M	-277.85M	-278.7M	-310.94M	-300M	-432.59M	-611.14M	-1.01B
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-291.71M	-297.44M	-283.3M	-258.18M	-280.49M	-347.26M	-273.65M	-424.27M	-589.95M	-917.66M
Acquisitions	0	0	-6.37M	-6.38M	-5.82M	0	0	0	0	0
Purchase of Investments	-44.11M	-24.92M	-11.36M	-11.39M	-10.9M	-58.38M	-42.19M	-101.8M	-13.85M	-13.49M
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	12.18M	12.24M	17.78M	32.44M	9.85M	-3.73M	7.2M	21.26M	26.12M	94.46M
Cash from Financing+	-3.49M	-103.58M	-139.55M	-42.61M	-136.37M	16.99M	-149.48M	35.32M	472.77M	364.68M
Dividends Paid	-96.81M	-104.98M	-113.13M	-121.42M	-129.68M	-137.81M	-146.12M	-154.29M	-163.54M	-176.56M
Dividend Payout Ratio %	0.5%	0.53%	0.53%	0.54%	0.56%	0.58%	0.6%	0.6%	0.63%	0.61%
Debt Issuance (Net)	1000K	1000K	-1000K	1000K	0	1000K	0	1000K	1000K	1000K
Stock Issued	0	0	0	0	0	0	0	0	0	298.45M
Share Repurchases	-3.28M	-3.33M	-3.21M	-3.61M	-4.16M	0	0	0	0	0
Other Financing	-3.17M	-2.11M	-348K	-2.96M	-2.53M	-8.28M	-3.37M	-4.04M	-3.68M	-7.22M
Net Change in Cash+	57.99M	-53.32M	15.17M	190.84M	-50.24M	57.86M	-59.87M	-37.67M	149.85M	41.44M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	56.81M	114.8M	61.48M	76.65M	267.49M	217.25M	275.12M	215.24M	177.58M	327.43M
Cash at End	114.8M	61.48M	76.65M	267.49M	217.25M	275.12M	215.24M	177.58M	327.43M	368.87M
Free Cash Flow+	59.17M	50.76M	152.53M	213.77M	87.92M	77.19M	63.27M	-81.3M	-344.11M	-414.86M
FCF Growth %	-0.34%	-0.14%	2.01%	0.4%	-0.59%	-0.12%	-0.18%	-2.29%	-3.23%	-0.21%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.69%	9.4%	9.62%	9.79%	9.61%	9.43%	9.37%	9.43%	9.12%	9.25%
EBITDA Margin	33.43%	34.14%	35.68%	34%	35.07%	35.94%	34.92%	30.46%	29.06%	30.43%
Net Debt / EBITDA	3.84x	3.96x	3.47x	3.36x	3.43x	3.55x	3.51x	4.03x	4.87x	4.87x
Interest Coverage	3.44x	3.46x	3.77x	3.45x	3.45x	3.54x	3.80x	3.66x	2.69x	2.41x
CapEx / Revenue	23.15%	23.53%	21.16%	20.27%	20.7%	23.02%	20.57%	26.31%	34.6%	55.25%
Dividend Payout Ratio	49.73%	52.95%	53.26%	53.54%	55.69%	58.05%	59.51%	59.57%	62.61%	61.06%
Debt / Equity	0.85x	0.82x	0.77x	0.77x	0.74x	0.78x	0.75x	0.78x	0.97x	0.92x
EPS Growth	0.52%	1.81%	6.85%	6.65%	2.67%	1.74%	3.41%	5.36%	0.59%	7%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Retail revenues	-	-	-	1.18B	1.13B	1.17B	1.25B	1.37B	1.47B	1.55B
Retail revenues Growth	-	-	-	-	-3.79%	3.28%	7.25%	9.62%	7.28%	5.44%
Transmission services (wheeling)	-	-	-	59.09M	53.83M	51.59M	68M	80.53M	80.36M	79.17M
Transmission services (wheeling) Growth	-	-	-	-	-8.91%	-4.15%	31.80%	18.43%	-0.21%	-1.47%
Wholesale energy sales	-	-	-	52.84M	71.2M	33.66M	40.84M	66.52M	63.42M	73.91M
Wholesale energy sales Growth	-	-	-	-	34.73%	-52.73%	21.34%	62.88%	-4.66%	16.54%
Other revenues	-	-	-	25.24M	26.44M	27.13M	27.8M	28.49M	29.79M	32.58M
Other revenues Growth	-	-	-	-	4.76%	2.61%	2.47%	2.47%	4.57%	9.37%
Energy efficiency program revenues	-	-	-	35.7M	40.13M	42.48M	29.92M	33.2M	31.95M	27.58M
Energy efficiency program revenues Growth	-	-	-	-	12.39%	5.86%	-29.56%	10.95%	-3.76%	-13.67%
Idaho Fixed Cost Adjustment	-	-	-	-35.92M	-36.92M	-35.95M	-36.24M	-23.52M	38.57M	2.86M
Idaho Fixed Cost Adjustment Growth	-	-	-	-	-2.78%	2.63%	-0.81%	35.11%	264.01%	-92.60%
Idaho Power Company	1.27B	1.26B	1.34B	-	-	-	-	-	-	-
Idaho Power Company Growth	-	-0.64%	6.79%	-	-	-	-	-	-	-
Others	2.78M	2.67M	4.59M	-	-	-	-	-	-	-
Others Growth	-	-4.20%	72.22%	-	-	-	-	-	-	-
Intersegment Eliminations	-	-	-	-	-	-	-	-	-	-
Intersegment Eliminations Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

IDACORP, Inc. (IDA) has a price-to-earnings (P/E) ratio of 24.1x. This is roughly in line with market averages.

Growth & Financials

IDACORP, Inc. (IDA) reported $1.81B in revenue for fiscal year 2024. This represents a 76% increase from $1.03B in 2011.

IDACORP, Inc. (IDA) grew revenue by 3.4% over the past year. Growth has been modest.

Yes, IDACORP, Inc. (IDA) is profitable, generating $317.7M in net income for fiscal year 2024 (15.8% net margin).

Dividend & Returns

Yes, IDACORP, Inc. (IDA) pays a dividend with a yield of 2.53%. This makes it attractive for income-focused investors.

IDACORP, Inc. (IDA) has a return on equity (ROE) of 9.2%. This is below average, suggesting room for improvement.

IDACORP, Inc. (IDA) had negative free cash flow of $410.2M in fiscal year 2024, likely due to heavy capital investments.

Industry Metrics

IDACORP, Inc. (IDA) has a dividend payout ratio of 61%. This suggests the dividend is well-covered and sustainable.

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