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IDA

IDACORP, Inc.

IDA

IDACORP, Inc. • NYSE
$131.78 ▲ 0.73% (+0.95)
Market Cap $7.12 B
52w High $138.03
52w Low $104.74
Dividend Yield 3.46%
P/E 22.68
Volume 183.76K
Outstanding Shares 54.05M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $524.417M ▲ $1.16M ▲ $124.437M ▲ 23.729% ▲ $2.3 ▲ $243.883M ▲
Q2-2025 $450.88M ▲ $636K ▲ $95.781M ▲ 21.243% ▲ $1.77 ▲ $194.655M ▲
Q1-2025 $432.457M ▲ $627K ▼ $59.647M ▲ 13.793% ▲ $1.1 ▲ $145.011M ▲
Q4-2024 $398.131M ▼ $1.867M ▲ $37.876M ▼ 9.513% ▼ $0.7 ▼ $130.1M ▼
Q3-2024 $528.527M $698K $113.605M 21.495% $2.13 $221.914M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $333.209M ▼ $10.076B ▲ $6.587B ▲ $3.481B ▲
Q2-2025 $474.488M ▼ $9.936B ▲ $6.529B ▲ $3.399B ▲
Q1-2025 $634.495M ▲ $9.592B ▲ $6.239B ▲ $3.346B ▲
Q4-2024 $368.865M ▼ $9.239B ▲ $5.901B ▲ $3.331B ▲
Q3-2024 $427.95M $9.105B $5.828B $3.27B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $124.609M ▲ $162.837M ▼ $-257.065M ▲ $-47.051M ▼ $-141.279M ▲ $-127.886M ▲
Q2-2025 $96.126M ▲ $176.941M ▲ $-290.651M ▼ $-46.297M ▼ $-160.007M ▼ $-156.364M ▼
Q1-2025 $59.661M ▲ $124.287M ▼ $-183.045M ▼ $324.388M ▲ $265.63M ▲ $-77.037M ▼
Q4-2024 $37.999M ▼ $136.435M ▼ $-161.247M ▲ $-34.273M ▼ $-59.085M ▼ $-48.875M ▼
Q3-2024 $113.84M $201.935M $-197.997M $254.453M $258.391M $-16.132M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Energy efficiency program revenues
Energy efficiency program revenues
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Other revenues
Other revenues
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Retail revenues
Retail revenues
 $340.00M ▲$360.00M ▲$400.00M ▲$480.00M ▲
Transmission services wheeling
Transmission services wheeling
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲
Wholesale energy sales
Wholesale energy sales
 $10.00M ▲$20.00M ▲$20.00M ▲$10.00M ▼
Idaho Fixed Cost Adjustment
Idaho Fixed Cost Adjustment
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement IDACORP’s income statement shows a picture of steady, predictable growth, which is what many people expect from a regulated utility. Revenue has climbed gradually year after year, not in big jumps, but in a consistent upward trend that suggests a growing customer base and/or higher approved rates. Profits have kept pace reasonably well. Operating earnings and net income have both edged higher over time, and earnings per share have risen steadily, which tells you the business is not just bigger but also maintaining solid profitability. Margins look fairly stable, so the company does not appear to be sacrificing profitability to grow. Overall, this is a classic utility profile: slow, steady top-line growth, reliable earnings, and no dramatic swings in performance over the last several years.

Balance Sheet

Balance Sheet The balance sheet shows a utility that is expanding its asset base and funding large projects, which fits with its grid and clean energy build-out story. Total assets have grown meaningfully over the past five years as the company invests in new infrastructure, generation, and grid technology. Debt levels have gone up as well, which is typical for a capital-intensive, regulated utility. At the same time, shareholder equity has also increased, so the company is not relying on debt alone to fund growth. Cash balances are modest but healthy for a utility, indicating enough liquidity for day-to-day needs without sitting on excess idle cash. In short, the balance sheet reflects a growing utility in a heavy investment cycle, with a moderate but rising use of leverage that regulators and investors will want to see matched by stable returns and constructive rate decisions.

Cash Flow

Cash Flow Cash flow tells the story of a utility in build-out mode. Cash generated from operations has been positive each year, but it has moved around rather than rising in a straight line, reflecting normal weather, fuel, and working capital swings. The standout feature is free cash flow: it has been negative in most recent years because capital spending is high. The company is clearly pouring money into new infrastructure, clean energy, and grid projects. That means it is leaning on external financing – debt and possibly equity – to bridge the gap between operating cash and investment spending. This pattern is typical for a utility in an intensive investment phase, but it also means that the timing of regulatory approvals, cost recovery, and project execution will be important to keep cash flow comfortable over time.

Competitive Edge

Competitive Edge IDACORP benefits from a strong structural position. As a regulated electric utility with a near-monopoly in its service area, it enjoys a captive customer base and relatively predictable demand. That regulatory framework can provide stability, as long as relationships with regulators remain constructive. Its hydroelectric system is a key competitive advantage. Hydropower gives the company a low-cost, relatively clean source of energy, which helps keep customer rates competitive and supports regional economic growth. This low-cost base can be difficult for potential competitors to replicate. The company is vertically integrated, handling generation, transmission, and distribution. That integration allows for tighter control over reliability and costs and makes its network harder to displace. On top of that, its demand-side management and energy efficiency programs deepen relationships with customers and help avoid or delay very expensive new capacity. The main competitive risks are the need to manage rising investment costs, potential changes in regulation, and growing expectations around clean energy and reliability as the grid becomes more complex.

Innovation and R&D

Innovation and R&D For a regulated utility, IDACORP is relatively forward-leaning on technology and clean energy. It is investing in smart grid capabilities, including advanced meters and fault detection sensors, which should help reduce outages, improve system efficiency, and lower operating costs over time. The push into large-scale battery storage is especially important. Storage helps smooth out the ups and downs of solar and wind, making it easier to add more renewables without sacrificing reliability. Pairing battery projects with solar and new transmission lines positions the company for a more flexible, modern grid. Its roadmap toward a fully clean energy mix by the middle of this century is ambitious and will require sustained innovation, regulatory approval, and careful execution. The integrated resource plan lays out a structured path, but it depends on timely project completion, evolving technology, and supportive policy. That creates both opportunity (if executed well) and risk (if projects are delayed, over budget, or not fully recovered in rates).

Summary

IDACORP looks like a classic, steadily growing regulated electric utility that is also in the middle of a major transition toward a cleaner, more modern grid. Financially, the company has delivered consistent revenue and earnings growth with relatively stable profitability. Its balance sheet is expanding as it invests heavily in new assets, with rising but typical levels of debt for a utility. Cash flows show that this is very much an investment-heavy period, with negative free cash flow driven by large capital projects rather than weak operations. Strategically, IDACORP’s strengths lie in its regulated monopoly position, low-cost hydro resources, and vertically integrated system. These provide a strong base for reliable service and competitive prices. At the same time, it is leaning into innovation with smart grid technologies, battery storage, and a long-term clean energy plan. Key uncertainties revolve around execution and regulation: the pace and cost of large projects, the ability to integrate more renewables and storage smoothly, and the ongoing support of regulators to allow recovery of these investments. The company’s long-term value creation will hinge on managing these execution and regulatory risks while maintaining its traditional strengths in reliability and cost control.

NEWS

October 30, 2025 · 6:30 AM UTC

IDACORP, Inc. Announces Third Quarter 2025 Results, Increases Earnings Guidance Range

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October 16, 2025 · 4:51 PM UTC

IDACORP, Inc. Declares Dividend

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October 16, 2025 · 1:32 PM UTC

IDACORP Schedules Third Quarter 2025 Earnings Release & Conference Call

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September 19, 2025 · 4:30 PM UTC

IDACORP Increases Common Stock Dividend

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