Latest Ratios: P/E Ratio 23.0x · EV/EBITDA 16.3x · ROE 9.4%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.1B | $6.9B | $5.7B | $5.0B | $5.5B | $5.7B | $4.9B | $5.4B | $4.7B | $4.6B | $4.1B |
| Enterprise Value | $11.6B | $10.4B | $8.5B | $7.5B | $7.5B | $7.5B | $6.6B | $7.0B | $6.3B | $6.3B | $5.8B |
| P/E Ratio → | 22.96 | 21.45 | 19.87 | 19.13 | 21.11 | 23.36 | 20.48 | 23.17 | 20.73 | 21.70 | 20.44 |
| P/S Ratio | 4.31 | 3.83 | 3.15 | 2.83 | 3.33 | 3.94 | 3.60 | 4.01 | 3.43 | 3.41 | 3.22 |
| P/B Ratio | 2.24 | 1.94 | 1.72 | 1.71 | 1.94 | 2.15 | 1.89 | 2.18 | 1.98 | 2.04 | 1.88 |
| P/FCF | — | — | — | — | — | 90.71 | 62.91 | 61.39 | 21.99 | 30.20 | 79.94 |
| P/OCF | 13.49 | 11.53 | 9.67 | 18.71 | 15.57 | 15.80 | 12.51 | 14.72 | 9.56 | 10.52 | 11.67 |
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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.73 | 4.63 | 4.24 | 4.55 | 5.16 | 4.87 | 5.21 | 4.57 | 4.65 | 4.57 |
| EV / EBITDA | 16.29 | 15.85 | 15.21 | 14.60 | 14.95 | 14.78 | 13.56 | 14.86 | 13.45 | 13.04 | 13.38 |
| EV / EBIT | 29.17 | 21.70 | 19.18 | 18.47 | 19.35 | 20.36 | 18.59 | 20.38 | 18.94 | 18.16 | 18.21 |
| EV / FCF | — | — | — | — | — | 118.93 | 85.26 | 79.81 | 29.32 | 41.15 | 113.55 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.1% | 22.1% | 18.2% | 17.9% | 20.1% | 22.8% | 23.1% | 22.4% | 21.8% | 26.3% | 25.0% |
| Operating Margin | 21.9% | 21.9% | 17.9% | 17.7% | 19.9% | 22.6% | 22.9% | 22.2% | 21.7% | 23.4% | 22.5% |
| Net Profit Margin | 17.8% | 17.8% | 15.8% | 14.8% | 15.8% | 16.8% | 17.6% | 17.3% | 16.5% | 15.7% | 15.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.4% | 9.4% | 9.2% | 9.1% | 9.4% | 9.4% | 9.4% | 9.6% | 9.8% | 9.6% | 9.4% |
| ROA | 3.3% | 3.3% | 3.3% | 3.3% | 3.5% | 3.4% | 3.5% | 3.6% | 3.6% | 3.4% | 3.2% |
| ROIC | 4.6% | 4.6% | 4.3% | 4.6% | 5.3% | 5.6% | 5.5% | 5.6% | 5.7% | 6.1% | 5.6% |
| ROCE | 4.4% | 4.4% | 4.0% | 4.2% | 4.7% | 4.8% | 4.7% | 4.8% | 5.0% | 5.3% | 4.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.02 | 1.02 | 0.92 | 0.97 | 0.78 | 0.75 | 0.78 | 0.74 | 0.77 | 0.77 | 0.82 |
| Debt / EBITDA | 5.59 | 5.59 | 5.53 | 5.50 | 4.38 | 3.93 | 4.12 | 3.89 | 3.94 | 3.63 | 4.10 |
| Net Debt / Equity | — | 0.96 | 0.81 | 0.86 | 0.72 | 0.67 | 0.67 | 0.66 | 0.66 | 0.74 | 0.79 |
| Net Debt / EBITDA | 5.26 | 5.26 | 4.87 | 4.87 | 4.03 | 3.51 | 3.55 | 3.43 | 3.36 | 3.47 | 3.96 |
| Debt / FCF | — | — | — | — | — | 28.22 | 22.35 | 18.42 | 7.33 | 10.95 | 33.61 |
| Interest Coverage | 2.85 | 2.85 | 3.24 | 3.48 | 4.33 | 4.26 | 4.05 | 3.98 | 3.85 | 4.13 | 3.86 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.93 | 0.93 | 1.41 | 1.58 | 1.26 | 1.83 | 2.23 | 1.51 | 2.31 | 2.21 | 1.76 |
| Quick Ratio | 0.68 | 0.68 | 1.06 | 1.33 | 1.07 | 1.54 | 1.90 | 1.20 | 1.91 | 1.65 | 1.32 |
| Cash Ratio | 0.24 | 0.24 | 0.53 | 0.52 | 0.32 | 0.66 | 1.04 | 0.58 | 1.03 | 0.38 | 0.25 |
| Asset Turnover | — | 0.18 | 0.20 | 0.21 | 0.22 | 0.20 | 0.19 | 0.20 | 0.21 | 0.22 | 0.20 |
| Inventory Turnover | 6.23 | 6.23 | 6.11 | 9.03 | 12.25 | 11.78 | 10.75 | 9.16 | 10.40 | 8.85 | 8.49 |
| 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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.3% | 2.7% | 3.1% | 3.3% | 2.8% | 2.5% | 2.8% | 2.4% | 2.6% | 2.5% | 2.6% |
| Payout Ratio | 58.3% | 58.3% | 61.1% | 62.6% | 59.6% | 59.5% | 58.0% | 55.7% | 53.5% | 53.3% | 52.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.4% | 4.7% | 5.0% | 5.2% | 4.7% | 4.3% | 4.9% | 4.3% | 4.8% | 4.6% | 4.9% |
| FCF Yield | — | — | — | — | — | 1.1% | 1.6% | 1.6% | 4.5% | 3.3% | 1.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% | 0.1% |
| Total Shareholder Yield | 2.4% | 2.8% | 3.1% | 3.3% | 2.8% | 2.5% | 2.8% | 2.5% | 2.7% | 2.5% | 2.7% |
| Shares Outstanding | — | $55M | $53M | $51M | $51M | $51M | $51M | $51M | $51M | $50M | $50M |
Includes 30+ ratios · 30 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying IDA stock.
IDACORP, Inc.'s current P/E ratio is 23.0x. The historical average is 17.2x. This places it at the 90th percentile of its historical range.
IDACORP, Inc.'s current EV/EBITDA is 16.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.1x.
IDACORP, Inc.'s return on equity (ROE) is 9.4%. The historical average is 9.5%.
Based on historical data, IDACORP, Inc. is trading at a P/E of 23.0x. This is at the 90th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
IDACORP, Inc.'s current dividend yield is 2.35% with a payout ratio of 58.3%.
IDACORP, Inc. has 22.1% gross margin and 21.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
IDACORP, Inc.'s Debt/EBITDA ratio is 5.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Hydrology-driven earnings and capex funding
Metrics are mathematically derived from official filings.
Premium Multiple Outpaces Earned Returns
At a 24.9x trailing P/E and 2.25x book, IDA trades well above its 6.5-13.7% peer ROE range, based on reported ratio data showing a 2.3% dividend yield.
The market appears to be pricing IDA on expected future rate base expansion and Boise load growth rather than on current earned returns, which suggests investors are paying for growth that has not yet appeared in reported earnings. The P/E sits well above POR and AVA near 17x, and a PEG of 5.31 suggests the premium rests heavily on forward assumptions. Investors should monitor whether the earned ROE of 1.2-4.1% quarterly converges toward the authorized level, since the current valuation warrants further investigation against that gap.
Earned Returns Lag Regulatory Ceiling
Quarterly ROE ranged from 1.1% to 4.1% across ten quarters, a level that appears well below what an authorized return would typically imply, based on reported figures.
The reported ROE pattern suggests earnings power is being diluted by equity growth outpacing net income, with equity rising roughly 28% while PP&E climbed about 39%. Whether this gap reflects regulatory lag, AFUDC-driven timing, or hydrology-related deferrals cannot be resolved from the provided data alone. Investors should monitor the next rate case outcome to determine whether the authorized ROE translates into realized returns.
Operating Margins Swing With Water Years
Operating margin oscillated between 10.4% and 29.4% across the ten quarters shown, a range that appears driven by power cost timing rather than steady regulated cost recovery, per reported statements.
The wide margin band suggests that Power Cost Adjustment deferrals are absorbing much of the hydrology variability, though the trough quarters in 2024Q4 and 2026Q1 show earnings can compress meaningfully when recovery lags. The 22.1% gross margin appears low for a regulated utility, which may indicate purchased power costs are a material variable headwind. Further investigation into the deferral balances would clarify how much of the volatility is timing versus permanent.
Capital Structure Stable Despite Rising Debt
Debt-to-capital held near 0.47-0.52 across the period while interest coverage moved between 1.94x and 4.81x, based on IDACORP's reported quarterly ratios.
Total debt climbed from $2.8B to $4.1B, yet debt-to-capital stayed in a narrow band, suggesting equity issuance has kept pace with borrowing. Interest coverage dipped toward 1.9x in the weaker quarters, which may indicate limited cushion during low-water periods. Based on these figures, the balance sheet appears adequate but dependent on hydrology and continued access to capital markets.
Payout Ratio Strains Internal Funding
The dividend payout ratio reached 125.2% in 2024Q4 and 111.2% in 2025Q4, while the 2.3% yield appears modest, according to reported figures.
Payouts above 100% in certain quarters suggest dividends are being funded partly from non-operating or external sources during weak earnings periods. With operating cash flow negative in 2026Q2 against $48.8M of dividends paid, internal funding of the CAPEX program appears constrained. Investors should monitor whether dividend growth can be sustained without incremental equity or debt issuance.
Standard P/E Misreads Regulated Earnings Quality
Applying an industrial-style P/E and quarterly ROE to IDA overlooks AFUDC and power cost deferrals that can inflate or depress reported earnings, based on the 10-quarter ratio spread.
The most commonly misapplied ratio here is trailing P/E, since AFUDC adds non-cash earnings during heavy construction and deferrals shift cost recovery across periods, distorting EPS. A cash-based alternative such as price to funds from operations, or a P/E normalized for AFUDC and deferral balances, would better reflect earning power. Based on the reported figures, the headline 24.9x multiple may overstate or understate true valuation depending on those adjustments.