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Idacorp Inc

IDA

Electric Services

Mkt Cap

$4.546B

PE

16.71

Debt

$2.826B

Cash

$445.5M

EV

$6.927B

FCF

-$310.2M

Market Cap

$4.546B

P/E Ratio

16.71

Debt

$2.826B

Cash

$445.5M

EV

$6.927B

FCF

-$310.2M
Charts data: {"Earnings":[{"time":"2014-12-30","value":193480000},{"time":"2015-12-30","value":194475000},{"time":"2016-12-30","value":198088000},{"time":"2017-12-30","value":212419000},{"time":"2018-12-30","value":226801000},{"time":"2019-12-30","value":232854000},{"time":"2020-12-30","value":237417000},{"time":"2021-12-30","value":245550000},{"time":"2022-12-30","value":258982000}],"Sales":[{"time":"2014-12-30","value":1282524000},{"time":"2015-12-30","value":1270289000},{"time":"2016-12-30","value":1262020000},{"time":"2017-12-30","value":1349486000},{"time":"2018-12-30","value":1370752000},{"time":"2019-12-30","value":1346383000},{"time":"2020-12-30","value":1350729000},{"time":"2021-12-30","value":1458084000},{"time":"2022-12-30","value":1643981000}],"Net Margins":[{"time":"2014-12-30","value":0.1508587753523521},{"time":"2015-12-30","value":0.15309508308739192},{"time":"2016-12-30","value":0.15696106242373337},{"time":"2017-12-30","value":0.15740733879417793},{"time":"2018-12-30","value":0.1654573547950322},{"time":"2019-12-30","value":0.17294781648312552},{"time":"2020-12-30","value":0.17576952889883907},{"time":"2021-12-30","value":0.16840593546050844},{"time":"2022-12-30","value":0.15753345081238773}],"Assets":[{"time":"2014-12-30","value":5716853000},{"time":"2015-12-30","value":6023314000},{"time":"2016-12-30","value":6289897000},{"time":"2017-12-30","value":6045405000},{"time":"2018-12-30","value":6382754000},{"time":"2019-12-30","value":6641201000},{"time":"2020-12-30","value":7095244000},{"time":"2021-12-30","value":7210515000},{"time":"2022-12-30","value":7543258000}],"Stockholders Equity":[{"time":"2014-12-30","value":1957565000},{"time":"2015-12-30","value":2062044000},{"time":"2016-12-30","value":2157866000},{"time":"2017-12-30","value":2256114000},{"time":"2018-12-30","value":2375811000},{"time":"2019-12-30","value":2470553000},{"time":"2020-12-30","value":2566456000},{"time":"2021-12-30","value":2675234000},{"time":"2022-12-30","value":2814615000}],"ROE":[{"time":"2014-12-30","value":0.09883707565266033},{"time":"2015-12-30","value":0.0943117605637901},{"time":"2016-12-30","value":0.09179810053080219},{"time":"2017-12-30","value":0.09415260044483567},{"time":"2018-12-30","value":0.09546255994268904},{"time":"2019-12-30","value":0.09425177278123562},{"time":"2020-12-30","value":0.09250772271178621},{"time":"2021-12-30","value":0.0917863633611116},{"time":"2022-12-30","value":0.09201329489113076}],"ROA":[{"time":"2014-12-30","value":0.0443768625850621},{"time":"2015-12-30","value":0.04683418463656386},{"time":"2016-12-30","value":0.043208338705705354},{"time":"2017-12-30","value":0.05034418703130725},{"time":"2018-12-30","value":0.04651941779363579},{"time":"2019-12-30","value":0.04492048953193858},{"time":"2020-12-30","value":0.04362372879635993},{"time":"2021-12-30","value":0.04571809364518346},{"time":"2022-12-30","value":0.043373566169949376}]}

IDACORP, 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, 2022, it had approximately 4,832 pole-miles of high-voltage transmission lines; 23 step-up transmission substations located at power plants; 21 transmission substations; 11 switching stations; 30 mixed-use transmission and distribution substations; 189 energized distribution substations; and 29,384 pole-miles of distribution lines, as well as provides electric utility services to approximately 618,000 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.

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In the chart Earnings are multiplied by this value.

Earnings Growth 4.1%
Earnings Stability 89%


Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years12-201412-201512-201612-201712-201812-201912-202012-202112-2022TTM
Net Margin15%15%16%16%17%17%18%17%16%15%
ROA4.4%4.7%4.3%5%4.7%4.5%4.4%4.6%4.3%4%
ROE9.9%9.4%9.2%9.4%9.5%9.4%9.3%9.2%9.2%9.3%

What is the average Net Margin?

The average Net Margin over the past 5 years is +16.63%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is +0.04%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +4.57%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is -0.11%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +9.34%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -0.07%.


Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years12-201412-201512-201612-201712-201812-201912-202012-202112-2022TTM
Debt FCF-29.5134.8211.458.5822.0325.9131.62-26.99-9.11
Debt Equity0.840.850.820.770.770.780.780.750.780.96
MIN
Graham Stability---100%100%100%100%100%100%100%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is -9.11.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -3.40.

What is the Graham’s Stability?

Graham’s Stability measure stands at 1.00.


Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years12-201512-201712-201912-2021Trend
Revenue3.8%4%6.9%13%1.4%
Net Income4.2%4%3.6%5.5%0.27%
Stockholders Equity4.5%4.5%4.4%5.2%-0.075%
FCF-----7.4%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +4.03%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is +1.38%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +4.04%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is +0.27%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +4.52%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -0.07%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is -.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -7.36%.