Idacorp (IDA)
NYSE:IDA
Top Page
IdaCorp
(NYSE:IDA)
Select Model
Select Model
Rating:62Neutral
Price Target:
$147.00
â–²(2.82% Upside)
Action:DowngradedDate:02/20/26
The score is held back primarily by financial constraints from heavy capex leading to persistently negative free cash flow and rising leverage. Offsetting this are constructive earnings guidance and a favorable growth/regulatory narrative from the latest call, plus supportive technical momentum; valuation is reasonable but not cheap given the ~24 P/E despite a ~2.5% yield.
Positive Factors
Regulatory Support & Constructive Rate Outcome
A constructive general rate case outcome and regulatory approval for ~ $110M of annual revenue anchor Idaho Power’s ability to recover investments and operating costs. That regulatory support underpins durable earnings and allows planned rate-base growth to be reflected in customer tariffs over multiple years.
Negative Factors
Heavy CapEx and Persistently Negative Free Cash Flow
A materially higher capital program has pushed free cash flow negative repeatedly, indicating internal cash generation is insufficient to fund investments. That persistent cash burn forces ongoing external financing, creating structural pressure on liquidity and financial flexibility through the multi-year build cycle.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulatory Support & Constructive Rate Outcome
A constructive general rate case outcome and regulatory approval for ~ $110M of annual revenue anchor Idaho Power’s ability to recover investments and operating costs. That regulatory support underpins durable earnings and allows planned rate-base growth to be reflected in customer tariffs over multiple years.
Read all positive factors
IdaCorp (IDA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.85B
Dividend Yield2.72%
Average Volume (3M)447.26K
Price to Earnings (P/E)21.2
Beta (1Y)0.06
Revenue Growth-1.58%
EPS Growth8.49%
CountryUS
Employees2,130
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)0.78
Shares Outstanding54,899,033
10 Day Avg. Volume506,273
30 Day Avg. Volume447,257
Financial Highlights & Ratios
PEG Ratio2.54
Price to Book (P/B)1.92
Price to Sales (P/S)3.79
P/FCF Ratio-11.89
Enterprise Value/Market Cap1.45
Enterprise Value/Revenue6.26
Enterprise Value/Gross Profit31.14
Enterprise Value/Ebitda15.39
Forecast
1Y Price Target
$144.71Price Target Upside1.22% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)6.37
Revenue Forecast (FY)$2.03B
IdaCorp Business Overview & Revenue Model
Company Description
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 ea...
How the Company Makes Money
IdaCorp generates revenue primarily through the sale of electricity to residential, commercial, and industrial customers. The company charges its customers based on energy consumption, which is measured in kilowatt-hours (kWh). Key revenue streams...
IdaCorp Earnings Call Summary
Earnings Call Date:Feb 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call was broadly constructive and growth‑oriented: management reported continued EPS growth, record retail sales, robust customer additions, major transmission and generation projects progressing, and the first‑ever >$600M operating cash flow milestone. Management initiated above‑street guidance for 2026 and outlined a clear strategy to finance a materially larger capital program while aiming to preserve affordability and a simple balance sheet. The primary negatives are the substantial increase in CapEx (doubling of annual spend), associated financing requirements, near‑threshold credit metrics, tax credit amortization headwinds and continued operational/weather volatility. Management articulated mitigations (rate case outcomes, customer‑funded large load contracts, forward equity sales, AFUDC and planned financing), and framed the risks as manageable given strong execution and a large committed pipeline.Positive Updates
18th Consecutive EPS Growth and Upside Guidance
Diluted EPS $5.90 in 2025 vs $5.50 in 2024 (~+7.3% year-over-year); 18th consecutive year of EPS growth. Results were $0.15 above the midpoint of 2025 guidance. 2026 guidance initiated at $6.25–$6.45 EPS (midpoint ~8% growth vs 2025); company expects < $30M of additional tax credit amortization in 2026 (vs $40M used in 2025).
Negative Updates
Substantial Increase in CapEx and Financing Requirements
CapEx is forecast to average ~$1.4B/year (2026–2030) — a doubling of recent annual spend — driving material financing needs. Management estimates ~$2B equity and ~$2.9B debt required to maintain the 50/50 target; incremental projects (e.g., Micron Fab 2) would necessitate additional funding and could be back‑end weighted.
Read all updates
Q4-2025 Updates
Positive
Negative
18th Consecutive EPS Growth and Upside Guidance
Diluted EPS $5.90 in 2025 vs $5.50 in 2024 (~+7.3% year-over-year); 18th consecutive year of EPS growth. Results were $0.15 above the midpoint of 2025 guidance. 2026 guidance initiated at $6.25–$6.45 EPS (midpoint ~8% growth vs 2025); company expects < $30M of additional tax credit amortization in 2026 (vs $40M used in 2025).
Read all positive updates
Company Guidance
IDACORP’s 2026 guidance calls for diluted EPS of $6.25–$6.45 (midpoint ≈ 8% growth vs. 2025 EPS $5.90), assuming historically normal weather and normal power supply expenses and that Idaho Power will use < $30M of additional investment tax credit amortization (vs ~$40.3M in 2025). Management expects 2026 O&M of $525M–$535M, CapEx of $1.3B–$1.5B (the 2026–2030 five‑year CapEx plan averages ~$1.4B/year, ~$7B total, a 26% increase vs. the prior five‑year plan), hydropower generation of 5.5–7.5M MWh, and no planned June 1, 2026 general rate case filing; rate base is projected to grow from a $5.3B 2025 base to >$11B by 2030 (16.7% CAGR 2026–2030). Key 2025 results cited to support the outlook included EPS $5.90 (vs. $5.50 in 2024), net income +$34M YoY, ~+$75M operating income benefit from the January rate increase and customer growth, additions to PP&E ≈ $1.2B (QIP >$1.7B), cash flow from operations >$600M, and a financing plan that anticipates roughly $2B equity and $2.9B debt through 2030 (with >$600M of equity forwards settled in 2026 and ~ $1.4B net equity still to raise) while targeting a ~50/50 debt/equity capital structure.IdaCorp Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
45
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.81B | 1.83B | 1.77B | 1.64B | 1.46B |
| Gross Profit | 401.43M | 331.85M | 316.84M | 330.11M | 332.24M |
| EBITDA | 737.01M | 668.96M | 605.55M | 560.33M | 548.93M |
| Net Income | 323.47M | 289.17M | 261.19M | 258.98M | 245.55M |
Balance Sheet | |||||
| Total Assets | 10.59B | 9.24B | 8.48B | 7.54B | 7.21B |
| Cash, Cash Equivalents and Short-Term Investments | 215.72M | 368.87M | 327.43M | 177.58M | 215.24M |
| Total Debt | 3.66B | 3.07B | 2.83B | 2.19B | 2.00B |
| Total Liabilities | 7.02B | 5.90B | 5.56B | 4.73B | 4.54B |
| Stockholders Equity | 3.57B | 3.33B | 2.91B | 2.81B | 2.67B |
Cash Flow | |||||
| Free Cash Flow | -577.49M | -414.86M | -344.11M | -81.30M | 63.27M |
| Operating Cash Flow | 601.84M | 594.42M | 267.03M | 351.29M | 363.26M |
| Investing Cash Flow | -1.03B | -917.66M | -589.95M | -424.27M | -273.65M |
| Financing Cash Flow | 273.92M | 364.68M | 472.77M | 35.32M | -149.48M |
IdaCorp Technical Analysis
Positive
142.97
Price Trends
138.67
Positive
132.92
Positive
128.13
Positive
Market Momentum
0.36
Negative
59.47
Neutral
76.12
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IDA, the sentiment is Positive. The current price of 142.97 is above the 20-day moving average (MA) of 140.72, above the 50-day MA of 138.67, and above the 200-day MA of 128.13, indicating a bullish trend. The MACD of 0.36 indicates Negative momentum. The RSI at 59.47 is Neutral, neither overbought nor oversold. The STOCH value of 76.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IDA.
IdaCorp Risk Analysis
IdaCorp disclosed 32 risk factors in its most recent earnings report. IdaCorp reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
IdaCorp Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
65 Neutral | $12.18B | 17.22 | 8.91% | 4.15% | 5.70% | -8.25% | |
64 Neutral | $6.67B | 17.33 | 7.76% | 4.38% | 7.53% | -17.59% | |
64 Neutral | $5.34B | 10.38 | 7.43% | 5.63% | -25.78% | -91.93% | |
62 Neutral | $7.85B | 21.22 | 9.38% | 2.72% | -1.58% | 8.49% | |
59 Neutral | $9.89B | 31.15 | 9.89% | 3.82% | 18.03% | 29.46% | |
50 Neutral | $6.37B | -140.94 | 4.85% | 2.80% | 10.65% | -10.67% |
* Utilities Sector Average
IDA
IdaCorp
142.97
27.13
23.42%
OGE
OGE Energy
47.96
3.33
7.46%
PNW
Pinnacle West Capital
100.75
9.02
9.84%
TXNM
TXNM Energy
58.46
6.16
11.79%
POR
Portland GE
52.77
10.16
23.85%
ENIC
Enel Chile SA
3.94
0.74
23.28%
IdaCorp Corporate Events
Business Operations and StrategyFinancial Disclosures
IdaCorp Posts Strong 2025 Earnings and Outlines 2026 Investment
Positive
Feb 19, 2026
On February 19, 2026, IDACORP, Inc. reported that fourth-quarter 2025 net income attributable to the company rose to $43.6 million, or $0.78 per diluted share, up from $37.9 million, or $0.70 per diluted share, a year earlier. For full-year 2025, ...
Business Operations and StrategyRegulatory Filings and Compliance
IdaCorp Wins Approval for Idaho Power Rate Increase
Positive
Dec 31, 2025
On December 30, 2025, the Idaho Public Utilities Commission approved a settlement stipulation in Idaho Power Company’s Idaho general rate case, originally filed on May 30, 2025, allowing the utility to implement revised tariff schedules that...
Business Operations and Strategy
IdaCorp Increases Capital Expenditure Forecast by 20%
Neutral
Dec 1, 2025
In a recent announcement, IDACORP, Inc. provided an updated forecast for its capital expenditures from 2025 to 2029, indicating a significant increase of approximately 20% over previous estimates. This adjustment comes after the termination of a 3...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.