Alliant Energy Corporation

LNT

NASDAQ · Electric & Multi-Utilities

$72.67

At close - Nov 6, 4:00 PM EST - USD

Market Cap$18.77B

P/E20.3x

52W High$78.81

Volume3.33M

VCP Research Verdict2026Q3

Rate Base Growth Funded by Debt Strains Alliant Energy

Alliant Energy's rate base is expanding faster than its equity base, with net PP&E rising roughly 22% over the last ten quarters to $21.6B while equity grew only from $6.8B to $7.8B, suggesting the capital program is increasingly debt-funded.

GrowthMixed

ProfitabilityModerate

ValuationReview

TechnicalsNeutral

Explore valuation models

MARKET ACTION

LNT price & volume

Price trend, volume and key moving averages

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Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis

Fundamental Trajectory

Revenue reached $1.3B in 2026Q3 with 6.2% growth, but operating margin swung between 14.5% and 30.3% across ten quarters, suggesting earnings are sensitive to regulatory recovery timing rather than stable volume growth.

Analyst Consensus+0.3% target

Buy(23 analysts)

12 Buy11 Hold0 Sell

The Bull Case

Upside Catalysts

Strong Analyst Recommendations

A significant majority of Wall Street analysts recommend a 'Buy' or 'Strong Buy' for LNT stock, indicating strong market confidence. The consensus rating of 'Moderate Buy' is notably more favorable than the sector average of 'Hold', suggesting a positive outlook for the stock.

Robust Revenue Growth Projections

Alliant Energy is projected to achieve a revenue growth of 4.36% this year and 6.33% next year. This growth is supported by an effective tax rate of 10% and strategic initiatives aimed at leveraging economic development.

Earnings Growth Expectations

Earnings per share (EPS) are expected to grow by 10.10% this year and 8.00% next year. The company has a strong track record of beating earnings estimates, having surpassed expectations in three of the last four quarters.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/9/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return

LNT+14.06%

S&P 500 (^GSPC)+7.63%

1-Year Return

LNT+12.09%

S&P 500 (^GSPC)+9.69%

3-Year Return

LNT+56.15%

S&P 500 (^GSPC)+67.17%

5-Year Return

LNT+48.84%

S&P 500 (^GSPC)+55.36%

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis

Trailing P/EMedian

20.3x

Forward P/E

21.2x

EV/EBITDA100th %ile

16.1x

FCF YieldCash Flow

N/A

Valuation vs 5-Year History

Multiple Range

Metric

Current

5Y Median

Historical Range

Percentile

P/E

20.3x

20.7x

40th· Fair

EV/EBITDA

16.1x

15.3x

100th· High

Price/FCF

N/A

Current Multiple

5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection

Bear$73.87+1.7%

Base (Fair)$75.60+4.0%

Bull$82.69+13.8%

$73.87 Bear$75.60 Base$82.69 Bull

Current Market Price: $72.67

Trades at a 3.9% discount to Base DCF ($75.60)

Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend

Revenue FY25

$4.36B+9.6% YoY

Net income FY25

$810M+17.4% YoY

Free cash flow FY25

-$1.31B-21.4% YoY

Operating margin FY25

23.5%+1.2 pts YoY

ROIC (FY25)4.2%

Avg ROIC 5Y4.4%

ROE (TTM)12.4%

Piotroski Score5 / 9

Financial Statements →

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History

EPS Beat Rate8/12 (67%)

Revenue Beat Rate8/12 (67%)

Quarter	EPS (Act vs Est)	Revenue (Act vs Est)
Q4 2026Latest Oct 29, 2026	$1.52+16.0% vs $1.31	$1.3B+1.9% vs $1.3B
Q3 2026 Jul 30, 2026	$0.65+12.3% vs $0.58	$971M+8.3% vs $897M
Q2 2026 Apr 30, 2026	$0.82+3.4% vs $0.79	$1.2B+10.1% vs $1.1B
Q1 2026 Feb 19, 2026	$0.60+2.4% vs $0.59	$1.1B+50.7% vs $706M

Historical baseline: 12 quarters analyzedGAAP / Adjusted

MARKET COVERAGE

Latest News

4 Stories

Seeking Alpha·Oct 30, 2026

Alliant Energy Corporation (LNT) Q3 2026 Earnings Call Transcript

Alliant Energy Corporation ( LNT ) Q3 2026 Earnings Call October 30, 2026 10:00 AM EDT Company Participants Susan Gille - Manager of Investor Relations Lisa Barton - President, CEO & Director Robert Durian - Executive VP & CFO Conference Call Participants Nicholas Campanella - Barclays Bank PLC, Research Division Rinny Singh - BofA Securities, Research Division Julien Dumoulin-Smith - Jefferies LLC, Research Division Paul Fremont - Ladenburg Thalmann & Co. Inc., Research Division Anthony Crowdell - Mizuho Securities USA LLC, Research Division Andrew Weisel - Scotiabank Global Banking and Markets, Research Division Aditya Gandhi - Wolfe Research, LLC Presentation Operator Thank you for holding, and welcome to Alliant Energy's Third Quarter 2026 Earnings Conference Call. [Operator Instructions] Today's conference call is being recorded.

MarketBeat·Oct 30, 2026

Alliant Energy Q3 Earnings Call Highlights

Alliant Energy NASDAQ: LNT reported third-quarter 2026 GAAP earnings of $1.52 per share and narrowed its full-year ongoing earnings guidance to the top half of its prior range, citing capital investment, commercial and industrial sales growth, and initial contributions from ramping data center demand.

Zacks Investment Research·Oct 30, 2026

Alliant Energy Q3 Earnings Surpass Estimates, Revenues Rise Y/Y

LNT's Q3 earnings beat estimates on higher utility revenues and demand, while data-center growth drives an expanded $15.9B capital spending plan.

Zacks Investment Research·Oct 29, 2026

Alliant Energy (LNT) Q3 Earnings and Revenues Beat Estimates

Alliant Energy (LNT) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.23 per share. This compares to earnings of $1.12 per share a year ago.

Filtered for Alliant Energy CorporationMore Headlines

Compare before deciding

Benchmark LNT against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Alliant Energy Corporation (LNT)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
LNTAlliant Energy CorporationCurrent	$72.67	$18.77B	20.31	9.57%	20.74%	12.41%	2.78%
WECWEC Energy Group, Inc.	$115.87	$37.74B	21.04	13.96%	17.54%	12.45%	3.02%
EVRGEvergy, Inc.	$87.54	$20.18B	19.49	1.65%	16.7%	10.18%	3%
OGEOGE Energy Corp.	$50.64	$10.46B	18.81	9.21%	16.61%	11.14%	3.33%
NWENorthwestern Energy Group Inc	$82.73	$5.09B	31.20	6.38%	9.48%	5.66%	3.18%
OTTROtter Tail Corporation	$78.44	$3.29B	18.77	-1.99%	13.45%	9.33%	2.67%

Compare LNT vs Peers

Alliant Energy Corporation (LNT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs WEC

Most directly comparable listed peer for LNT.

Scale Benchmark

vs GE

Larger-name benchmark to compare LNT against a more recognizable public peer.

Peer Set

Compare Top 5

vs WEC, EVRG, OGE, NWE

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

LNT SEC Filings & Documents

Alliant Energy Corporation (LNT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Oct 30, 2026·SEC

Material company update

Oct 28, 2026·SEC

Material company update

Jul 31, 2026·SEC

10-K Annual Reports

FY 2026

Feb 20, 2026·SEC

FY 2025

Feb 21, 2025·SEC

FY 2024

Feb 16, 2024·SEC

10-Q Quarterly Reports

FY 2026

Oct 30, 2026·SEC

FY 2026

Jul 31, 2026·SEC

FY 2026

May 1, 2026·SEC

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LNT Frequently Asked Questions

Alliant Energy Corporation (LNT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is Alliant Energy Corporation's revenue?

Alliant Energy Corporation (LNT) reported $4.50B in revenue over the trailing twelve months. Revenue was $4.36B in fiscal year 2025. That is 368% more than the $932.8M of fiscal year 1996.

How fast is Alliant Energy Corporation growing?

Alliant Energy Corporation (LNT) grew revenue by 5.4% over the trailing twelve months, compared with the twelve months before.

Is LNT profitable?

Yes. Alliant Energy Corporation (LNT) earned $934.0M in net income over the trailing twelve months (a 20.7% net margin).

Dividend & Returns

Does LNT pay dividends?

Yes. Alliant Energy Corporation (LNT) pays a dividend that yields 2.78% at the current price, a moderate yield.

What is LNT's return on equity?

Alliant Energy Corporation (LNT) had a return on equity (ROE) of 12.4% over the trailing twelve months. That is in line with the market's typical 10-15%.

What is Alliant Energy Corporation's free cash flow?

Alliant Energy Corporation (LNT) had negative free cash flow of $2.09B over the trailing twelve months.

Industry Metrics

Is LNT's dividend sustainable?

Alliant Energy Corporation (LNT) has a dividend payout ratio of 64%. This suggests the dividend is well-covered and sustainable.

What if you invested $1,000 in LNT back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →

Quarter

EPS (Act vs Est)

Revenue (Act vs Est)

Q4 2026Latest

Oct 29, 2026

$1.52+16.0%

vs $1.31

$1.3B+1.9%

vs $1.3B

Q3 2026

Jul 30, 2026

$0.65+12.3%

vs $0.58

$971M+8.3%

vs $897M

Q2 2026

Apr 30, 2026

$0.82+3.4%

vs $0.79

$1.2B+10.1%

vs $1.1B

Q1 2026

Feb 19, 2026

$0.60+2.4%

vs $0.59

$1.1B+50.7%

vs $706M

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

LNTAlliant Energy CorporationCurrent

$72.67

$18.77B

20.31

9.57%

20.74%

12.41%

2.78%

WECWEC Energy Group, Inc.

$115.87

$37.74B

21.04

13.96%

17.54%

12.45%

3.02%

EVRGEvergy, Inc.

$87.54

$20.18B

19.49

1.65%

16.7%

10.18%

OGEOGE Energy Corp.

$50.64

$10.46B

18.81

9.21%

16.61%

11.14%

3.33%

NWENorthwestern Energy Group Inc

$82.73

$5.09B

31.20

6.38%

9.48%

5.66%

3.18%

OTTROtter Tail Corporation

$78.44

$3.29B

18.77

-1.99%

13.45%

9.33%

2.67%