IDA Utilities

IDACORP, Inc.

$145.12-1.29%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Utilities
Industry: Utilities - Regulated Electric
Country: United States
Market cap: 8.4B USD
Enterprise value: 11.7B USD
Full-time employees: 2,174

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
About average: profitability, growth and risk (debt, liquidity and share-price swings)profitability, growth and risk

Ranks #230 of 348 utilities companies (bottom 35%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
IDACORP reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Paying shareholders without free cash flow. Paid out $539M over the 3 fiscal years to 2025 with -$1.3B of free cash flow.
IDACORP returned $539M in buybacks and dividends over three fiscal years while its free cash flow totalled -$1.3B. The money came from its cash pile or from borrowing.
Borrowing rising faster than profit. Since 2022: debt +57%, operating profit +8.2%.
IDACORP's debt grew 57% since 2022 while operating profit changed +8.2%.
Investment surge. Capital spending 68% of revenue, up from 28% in 2022.
IDACORP is spending 68% of revenue on facilities and equipment, up from 28% in 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.

StockQuotient Score

43/ 100

Oct 5 43 → Nov 4 43

Valuation

Is the price right?

23/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Share count up 4.4% (existing holders diluted)

Valuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ EBITDA yield
▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield4.0%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.26Sector median: 0.0485 · MAD: 0.0319

EBITDA yield5.6%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -1.18Sector median: 0.0859 · MAD: 0.0250

Free cash flow yield-11.6%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield45.0%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.6310 · MAD: 0.2684

Growth

Is it growing?

41/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Held back by:

▼ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth3.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.07Sector median: 0.0172 · MAD: 0.1791

3-year revenue growth1.4%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -0.10Sector median: 0.0196 · MAD: 0.0523

Revenue growth-1.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.63Sector median: 0.0254 · MAD: 0.0681

Profitability

Does it earn well?

53/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Mixed versus peers:

▲ Operating margin
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin23.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.57Sector median: 0.1864 · MAD: 0.0865

Return on assets3.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.37Sector median: 0.0266 · MAD: 0.0124

Return on invested capital4.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.38Sector median: 0.0524 · MAD: 0.0237

Other data (not scored)

Gross margin39.0%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.3581 · MAD: 0.1545

Return on equity9.0%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0807 · MAD: 0.0381

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 54 → 53

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.48

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.10Sector median: 0.4590 · MAD: 0.1730

Current ratio0.99×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.13Sector median: 1.0330 · MAD: 0.3620

Debt / equity1.01×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.36Sector median: 1.1925 · MAD: 0.5265

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about IDACORP

Is IDACORP getting weaker?: Its latest SEC filing (Jul 30, 2026) got weaker in some ways: share count up 4.4%. Its overall score is unchanged at 43/100 since Oct 28, 2026.
How is IDACORP valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 23/100 against 360 utilities peers. EBITDA yield 5.6% vs a peer median of 8.6% (weaker than 84% of peers).EBITDA yield 5.6% vs peers 8.6% (weaker than 84% of peers).
Is IDACORP growing?: At about the same pace as its peers. Growth scores 41/100 against 360 utilities peers. Revenue growth -1.7% vs a peer median of 2.5% (weaker than 67% of peers).Revenue growth -1.7% vs peers 2.5% (weaker than 67% of peers).
How profitable is IDACORP?: About as profitable as its peers. Profitability scores 53/100 against 360 utilities peers. Operating margin 23.6% vs a peer median of 18.6% (stronger than 69% of peers).Operating margin 23.6% vs peers 18.6% (stronger than 69% of peers). Return on invested capital 4.3% vs a peer median of 5.2% (weaker than 61% of peers).Return on invested capital 4.3% vs peers 5.2% (weaker than 61% of peers).
How risky is IDACORP?: Moderate risk relative to 360 utilities peers, judged on debt, liquidity and share-price swings. A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 30, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

Share count up 4.4% (existing holders diluted)

	Previous quarter	Latest quarter	Change
Revenue (12 months)	1.7B USD	1.7B USD	+1.1%
Net income (12 months)	331.8M USD	338.6M USD	+2.0%
Operating margin	22.1%	23.6%	+1.5 pts
Free cash flow (12 months)	−796.2M USD	−973.1M USD	+22.2%
Debt	3.8B USD	3.8B USD	+0.0%
Cash	337.8M USD	83.6M USD	−75.2%
Shares outstanding	55.4M	57.8M	+4.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Utilities - Regulated Electric · 29 companies

Valuations in Utilities - Regulated Electric are above their usual range since 2016.

67% of months since 2016 were valued lower than now.
24% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +18% and earnings +20% (medians): prices and earnings moved broadly together.
Median price-to-sales is +1% vs the whole market, against a usual +1%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	23.8%	21.0%	19.1%	18.5%	20.3%	▲ 1.7 pts
Net margin	17.8%	16.6%	15.9%	16.3%	18.5%	▲ 2.2 pts
Return on assets (ROA)	3.4%	3.4%	3.1%	3.1%	3.2%	▲ 0.0 pts
Return on equity (ROE)	9.2%	9.2%	9.0%	8.7%	9.1%	▲ 0.4 pts
Free cash flow margin	4.6%	-5.2%	-21.0%	-23.5%	-33.1%	▼ 9.6 pts
Current ratio	1.83×	1.26×	1.58×	1.41×	0.93×	▼ 34%
Debt to equity	0.75×	0.78×	0.97×	0.92×	0.97×	▲ 4.6%
Interest coverage	3.80×	3.66×	2.69×	2.41×	2.10×	▼ 13%

IDA price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

About average: profitability, growth and risk (debt, liquidity and share-price swings)profitability, growth and risk

Ranks #230 of 348 utilities companies (bottom 35%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.

IDACORP reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.

Paying shareholders without free cash flow. Paid out $539M over the 3 fiscal years to 2025 with -$1.3B of free cash flow.

IDACORP returned $539M in buybacks and dividends over three fiscal years while its free cash flow totalled -$1.3B. The money came from its cash pile or from borrowing.

Borrowing rising faster than profit. Since 2022: debt +57%, operating profit +8.2%.

IDACORP's debt grew 57% since 2022 while operating profit changed +8.2%.

Investment surge. Capital spending 68% of revenue, up from 28% in 2022.

IDACORP is spending 68% of revenue on facilities and equipment, up from 28% in 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.

Questions investors ask about IDACORP

Is IDACORP getting weaker?

Its latest SEC filing (Jul 30, 2026) got weaker in some ways: share count up 4.4%. Its overall score is unchanged at 43/100 since Oct 28, 2026.

How is IDACORP valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 23/100 against 360 utilities peers. EBITDA yield 5.6% vs a peer median of 8.6% (weaker than 84% of peers).EBITDA yield 5.6% vs peers 8.6% (weaker than 84% of peers).

Is IDACORP growing?

At about the same pace as its peers. Growth scores 41/100 against 360 utilities peers. Revenue growth -1.7% vs a peer median of 2.5% (weaker than 67% of peers).Revenue growth -1.7% vs peers 2.5% (weaker than 67% of peers).

How profitable is IDACORP?

About as profitable as its peers. Profitability scores 53/100 against 360 utilities peers. Operating margin 23.6% vs a peer median of 18.6% (stronger than 69% of peers).Operating margin 23.6% vs peers 18.6% (stronger than 69% of peers). Return on invested capital 4.3% vs a peer median of 5.2% (weaker than 61% of peers).Return on invested capital 4.3% vs peers 5.2% (weaker than 61% of peers).

How risky is IDACORP?

Moderate risk relative to 360 utilities peers, judged on debt, liquidity and share-price swings. A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

1.7B USD

1.7B USD

+1.1%

Net income (12 months)

331.8M USD

338.6M USD

+2.0%

Operating margin

22.1%

23.6%

+1.5 pts

Free cash flow (12 months)

−796.2M USD

−973.1M USD

+22.2%

Debt

3.8B USD

3.8B USD

+0.0%

Cash

337.8M USD

83.6M USD

−75.2%

Shares outstanding

55.4M

57.8M

+4.4%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

23.8%

21.0%

19.1%

18.5%

20.3%

▲ 1.7 pts

Net margin

17.8%

16.6%

15.9%

16.3%

18.5%

▲ 2.2 pts

Return on assets (ROA)

3.4%

3.1%

3.2%

▲ 0.0 pts

Return on equity (ROE)

9.2%

9.0%

8.7%

9.1%

▲ 0.4 pts

Free cash flow margin

4.6%

-5.2%

-21.0%

-23.5%

-33.1%

▼ 9.6 pts

Current ratio

1.83×

1.26×

1.58×

1.41×

0.93×

▼ 34%

Debt to equity

0.75×

0.78×

0.97×

0.92×

0.97×

▲ 4.6%

Interest coverage

3.80×

3.66×

2.69×

2.41×

2.10×

▼ 13%