IdaCorp (IDA) AI Stock Analysis

• Market Cap: $6.24B
• Dividend Yield: 2.92%
• Average Volume (3M): 488.27K
• Price to Earnings (P/E): 20.5
• Beta (1Y): 0.18
• Revenue Growth: 1.63%
• EPS Growth: 13.11%
• Country: US
• Employees: 2,130
• Sector: Utilities
• Sector Strength: 87
• Industry: Regulated Electric
• EPS (TTM): 1.10
• Shares Outstanding: 54,020,714
• 10 Day Avg. Volume: 578,086
• 30 Day Avg. Volume: 488,272
• PEG Ratio: 7.61
• Price to Book (P/B): 1.86
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -18.18
• Enterprise Value/Market Cap: 1.55
• Enterprise Value/Revenue: 1.33
• Enterprise Value/Gross Profit: 13.90
• Enterprise Value/Ebitda: 4.27
• 1Y Price Target: $126.71
• Price Target Upside: 9.64% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7

• Rating: 70 Outperform
• Price Target: $127.00 ▲( 9.89% Upside)

IdaCorp exhibits strong financial performance with consistent growth in earnings and customer base. While technical indicators and valuation suggest stability, the company faces challenges from increased leverage and regulatory uncertainties. Recent corporate events reinforce a positive outlook, but careful monitoring of financial risks is advised.

Positive Factors

Earnings

IDA reported a beat on earnings, driven by strong customer growth and new rates in Idaho.

Growth Strategy

The infrastructure growth story is unique with load acceleration and investments that support it.

Regulatory Environment

The regulatory environment in Idaho is supportive, with potential mechanisms to narrow regulatory lag.

Negative Factors

Credit Metrics

The credit metrics have been weak in recent periods, leading to a Moody's negative outlook.

Wildfire Exposure

There is some degree of wildfire exposure, even if minimal.

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 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, 2021, it had approximately 4,843 pole-miles of high-voltage transmission lines; 23 step-up transmission substations located at power plants; 21 transmission substations; 10 switching stations; 30 mixed-use transmission and distribution substations; 187 energized distribution substations; and 28,570 pole-miles of distribution lines, as well as provides electric utility services to approximately 604,000 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.

How the Company Makes Money

IdaCorp makes money primarily through its regulated utility operations under Idaho Power Company. Revenue is generated from the sale of electricity to residential, commercial, and industrial customers within its service areas. The company's income is largely determined by rates approved by state regulatory commissions, which are designed to provide a reasonable return on investment while covering operating and capital costs. Additionally, IdaCorp benefits from various renewable energy initiatives and federal incentives aimed at promoting cleaner energy production. The company may also engage in wholesale energy markets to buy and sell electricity, further contributing to its revenue streams.

IdaCorp Financial Statement Overview

Summary

IdaCorp showcases strong revenue growth and operational efficiency, with stable EBIT and EBITDA margins. However, increased leverage and volatile free cash flow due to high capital expenditures suggest financial risk.

Income Statement

IdaCorp has shown consistent revenue growth over the past years, with a notable increase from $1.35 billion in 2020 to $1.83 billion in 2024. The gross profit margin is strong, consistently above 75%, reflecting efficient cost management. However, the net profit margin shows a moderate improvement, indicating some cost pressures. EBIT and EBITDA margins are stable, showcasing operational efficiency.

Balance Sheet

The debt-to-equity ratio has increased due to rising debt levels, currently at 0.92. This suggests higher leverage, which may increase financial risk. Return on equity remains robust, driven by steady net income growth. The equity ratio has slightly declined, indicating increased liabilities compared to assets.

Cash Flow

Operating cash flow has improved significantly, indicating strong cash generation. However, free cash flow has been volatile, impacted by substantial capital expenditures. The ratio of operating cash flow to net income has improved, suggesting better conversion of earnings into cash.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
1.81B	1.83B	1.77B	1.64B	1.46B	1.35B
	Gross Profit
694.59M	331.85M	316.84M	330.11M	332.24M	312.17M
	EBIT
327.00M	327.84M	313.48M	327.18M	329.65M	309.52M
	EBITDA
625.72M	668.96M	605.55M	491.54M	493.85M	473.60M
	Net Income Common Stockholders
300.65M	289.17M	261.19M	258.98M	245.55M	237.42M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
157.58M	368.87M	327.43M	177.58M	215.24M	300.12M
	Total Assets
8.35B	9.59B	8.48B	7.54B	7.21B	7.10B
	Total Debt
2.83B	3.07B	2.83B	2.19B	2.00B	2.00B
	Net Debt
2.67B	2.70B	2.50B	2.02B	1.79B	1.73B
	Total Liabilities
5.42B	5.90B	5.56B	4.73B	4.54B	4.53B
	Stockholders Equity
2.92B	3.33B	2.91B	2.81B	2.67B	2.56B
Cash Flow		Free Cash Flow
-341.61M	-414.86M	-344.11M	-81.30M	63.27M	77.19M
	Operating Cash Flow
609.02M	594.42M	267.03M	351.29M	363.26M	388.13M
	Investing Cash Flow
-866.04M	-917.66M	-589.95M	-424.27M	-273.65M	-347.26M
	Financing Cash Flow
733.94M	364.68M	472.77M	35.32M	-149.48M	16.99M

IdaCorp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 115.57
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 115.57 is above the 20-day moving average (MA) of 115.32, above the 50-day MA of 115.32, and above the 200-day MA of 108.86, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 50.95 is Neutral, neither overbought nor oversold. The STOCH value of 78.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IDA.

IdaCorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
POR	77 Outperform	$4.60B	14.70	8.33%	4.76%	11.83%	9.53%
KEP	70 Outperform	$14.43B	3.92	13.42%	0.42%	0.21%	628.34%
IDA	70 Outperform	$6.24B	20.48	9.60%	2.92%	1.63%	13.11%
TXNM	70 Outperform	$5.26B	25.22	8.37%	2.80%	10.10%	149.78%
OGE	70 Neutral	$8.91B	18.35	10.72%	3.80%	15.56%	21.90%
PNW	65 Neutral	$10.84B	18.03	9.08%	3.91%	10.69%	12.37%
Sector *	63 Neutral	$8.54B	10.36	4.69%	4.37%	4.05%	-12.96%

IdaCorp Corporate Events

IdaCorp Shareholders Approve Key Proposals at Annual Meeting

At the 2025 Annual Meeting of Shareholders held on May 15, 2025, IDACORP, Inc. presented four proposals to its shareholders. These proposals included the election of directors, approval of executive compensation, authorization of additional shares for the Long-Term Incentive and Compensation Plan, and the ratification of Deloitte & Touche LLP as the independent registered public accounting firm. All proposals were approved, indicating strong shareholder support for the company’s current governance and strategic initiatives.

The most recent analyst rating on (IDA) stock is a Hold with a $121.00 price target. To see the full list of analyst forecasts on IdaCorp stock, see the IDA Stock Forecast page.

IdaCorp Enters Forward Sale Agreements with Major Banks

On May 8, 2025, IDACORP, Inc. entered into forward sale agreements with Morgan Stanley, JPMorgan Chase, and Wells Fargo, involving over 5 million shares of its common stock. These agreements, part of an underwritten public offering, allow IDACORP to issue shares by November 2026 at an initial forward sale price of $107.67 per share, subject to adjustments. The transactions are expected to have implications for IDACORP’s earnings per share, depending on the settlement method chosen, with potential dilution if shares are physically or net share settled.

IDACORP Reports Strong Q1 2025 Financial Results

On May 1, 2025, IDACORP, Inc. announced its first quarter 2025 financial results, reporting a net income of $59.6 million, or $1.10 per diluted share, an increase from $48.2 million, or $0.95 per diluted share, in the same period in 2024. The company attributed this growth to strong customer growth, rate changes, and tax credits, despite higher depreciation and financing costs. IDACORP reaffirmed its 2025 earnings guidance, emphasizing its focus on capital investment and regulatory plans to support ongoing growth and energy reliability.