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Idacorp (IDA)
NYSE:IDA
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IdaCorp
(NYSE:IDA)
Rating:69Neutral
Price Target:
$137.00
â–²(8.96% Upside)
Positive Factors
Revenue Growth
The strong revenue growth indicates a positive trajectory for IdaCorp, reflecting its ability to expand its market reach and enhance its service offerings, which is crucial for long-term sustainability.
Renewable Energy Initiatives
IdaCorp's focus on renewable energy positions it well for future regulatory environments and consumer preferences, potentially leading to sustainable growth and reduced environmental impact.
Customer Growth
Consistent customer growth enhances revenue potential and market presence, supporting IdaCorp's long-term financial health and ability to invest in infrastructure and innovation.
Negative Factors
Increased Leverage
Higher leverage can pose financial risks, potentially impacting IdaCorp's ability to invest in growth opportunities and manage economic downturns, thus affecting long-term stability.
Negative Free Cash Flow
Negative free cash flow may limit IdaCorp's ability to fund new projects and respond to market changes, potentially hindering growth and operational flexibility over time.
Regulatory Challenges
Regulatory challenges can delay project timelines and increase costs, affecting IdaCorp's ability to expand its renewable energy portfolio and meet strategic goals.
IdaCorp (IDA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.79B
Dividend Yield2.74%
Average Volume (3M)353.89K
Price to Earnings (P/E)22.0
Beta (1Y)0.13
Revenue Growth-0.48%
EPS Growth6.40%
CountryUS
Employees2,130
SectorUtilities
Sector Strength62
IndustryRegulated Electric
Share Statistics
EPS (TTM)1.76
Shares Outstanding54,032,920
10 Day Avg. Volume320,185
30 Day Avg. Volume353,891
Financial Highlights & Ratios
PEG Ratio2.92
Price to Book (P/B)1.72
Price to Sales (P/S)3.14
P/FCF Ratio-13.84
Enterprise Value/Market Cap1.40
Enterprise Value/Revenue5.24
Enterprise Value/Gross Profit13.54
Enterprise Value/Ebitda13.70
Forecast
1Y Price Target
$129.00Price Target Upside2.60% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
IdaCorp Business Overview & Revenue Model
Company DescriptionIDACORP, 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 MoneyIdaCorp generates revenue primarily through its subsidiary, Idaho Power, which earns money by providing electricity to residential, commercial, and industrial customers. The revenue model is heavily regulated, with rates set by state public utility commissions. Key revenue streams include sales of electricity, demand charges, and additional services related to energy efficiency programs. The company also benefits from long-term contracts for renewable energy projects, helping to diversify its income. Significant partnerships with renewable energy developers and investment in solar and wind projects further contribute to its earnings, positioning IdaCorp as a forward-thinking player in the energy sector.
IdaCorp Earnings Call Summary
Earnings Call Date:Jul 31, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Oct 30, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted robust growth in earnings per share and customer base, successful equity transactions, and strong operational results. However, these positive aspects were balanced by increased operating expenses, regulatory challenges, and higher depreciation and interest expenses.Q2-2025 Updates
Positive Updates
Increased Earnings Per Share
IDACORP's diluted earnings per share increased to $1.76 from $1.71 compared to last year's second quarter. For the first half of 2025, diluted earnings per share increased to $2.87 from $2.67 in 2024.
Customer Base Growth
Idaho Power's customer base grew by 2.5%, with residential customers increasing by 2.7%. Notable new customer investments include a high-volume fabrication plant by Micron and expansions by ValorC3 data centers and Tesla.
Successful Equity Transaction
IDACORP entered into forward sale agreements to sell $575 million in gross amount of stock, supporting equity needs into 2027.
Strong Operational Results
The company raised the lower end of its full-year IDACORP diluted earnings per share guidance by $0.05, driven by strong operational results.
Negative Updates
Increased Operating Expenses
There was a $11.1 million increase in O&M expenses due to higher labor costs and wildfire mitigation program expenses.
Regulatory and Permitting Challenges
Recent legislation and executive orders introduced hurdles and uncertainty around renewable project constructability, impacting projects like Jackalope Wind.
Higher Depreciation and Interest Expenses
Depreciation expense increased by $6.4 million quarter-over-quarter, and there were higher interest expenses from long-term debt and customer deposits.
Company Guidance
During IDACORP's Second Quarter 2025 Earnings Call, the company provided updated guidance, raising the lower end of its full year diluted earnings per share (EPS) forecast by $0.05, setting a new range of $5.70 to $5.85. This adjustment reflects strong operational results and anticipates Idaho Power's usage of additional tax credit amortization between $60 million and $77 million for the entire year. IDACORP also reported second quarter diluted EPS of $1.76, up from $1.71 in the same period last year, with a notable increase in tax credit amortization to $17.2 million compared to $7.5 million in the previous year. The company's first half of 2025 diluted EPS stood at $2.87, an improvement from $2.67 in 2024, driven by $36.5 million in tax credit amortization. Furthermore, IDACORP maintained its O&M expense projection between $465 million and $475 million and continued to forecast capital expenditures between $1 billion and $1.1 billion for 2025.IdaCorp Financial Statement Overview
Summary
IdaCorp demonstrates solid revenue growth and profitability, with strong margins and consistent returns on equity. However, increased leverage and negative free cash flow pose potential risks. The company should focus on improving cash flow management to enhance financial stability.Income Statement
IdaCorp shows strong revenue growth with a TTM increase of 13.6%, indicating a positive trajectory. Gross profit margin improved significantly to 38.68% in TTM, reflecting enhanced operational efficiency. Net profit margin also increased to 16.96%, showcasing profitability. However, the EBIT and EBITDA margins, while healthy, show modest growth, suggesting room for further operational improvements.75
Positive
Balance Sheet
The company's debt-to-equity ratio increased to 1.08 in TTM, indicating higher leverage, which could pose risks if not managed carefully. Return on equity is stable at 9.20%, reflecting consistent shareholder returns. The equity ratio stands at 34.21%, suggesting a balanced capital structure but with a slight tilt towards debt.68
Positive
Cash Flow
Operating cash flow remains robust, covering 86% of net income in TTM, indicating strong cash generation. However, free cash flow is negative, and its growth rate is declining, which could impact future investments and financial flexibility. The negative free cash flow to net income ratio highlights potential liquidity challenges.60
Neutral
| 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 | 699.93M | 331.85M | 316.84M | 330.11M | 332.24M | 312.17M |
| EBITDA | 691.68M | 668.96M | 605.55M | 491.54M | 493.85M | 473.60M |
| Net Income | 306.91M | 289.17M | 261.19M | 258.98M | 245.55M | 237.42M |
Balance Sheet | ||||||
| Total Assets | 9.94B | 9.24B | 8.48B | 7.54B | 7.21B | 7.10B |
| Cash, Cash Equivalents and Short-Term Investments | 474.49M | 368.87M | 327.43M | 177.58M | 215.24M | 300.12M |
| Total Debt | 3.67B | 3.07B | 2.83B | 2.19B | 2.00B | 2.00B |
| Total Liabilities | 6.53B | 5.90B | 5.56B | 4.73B | 4.54B | 4.53B |
| Stockholders Equity | 3.40B | 3.33B | 2.91B | 2.81B | 2.67B | 2.56B |
Cash Flow | ||||||
| Free Cash Flow | -298.41M | -414.86M | -344.11M | -81.30M | 63.27M | 77.19M |
| Operating Cash Flow | 639.60M | 594.42M | 267.03M | 351.29M | 363.26M | 388.13M |
| Investing Cash Flow | -832.94M | -917.66M | -589.95M | -424.27M | -273.65M | -347.26M |
| Financing Cash Flow | 498.27M | 364.68M | 472.77M | 35.32M | -149.48M | 16.99M |
IdaCorp Technical Analysis
Positive
125.73
Price Trends
122.73
Positive
118.66
Positive
114.90
Positive
Market Momentum
0.47
Positive
55.48
Neutral
63.51
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 125.73 is above the 20-day moving average (MA) of 125.66, above the 50-day MA of 122.73, and above the 200-day MA of 114.90, indicating a bullish trend. The MACD of 0.47 indicates Positive momentum. The RSI at 55.48 is Neutral, neither overbought nor oversold. The STOCH value of 63.51 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 "Finance & Corporate" 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
Overall Rating
UnderperformOutperform
Sector (66)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $4.65B | 15.50 | 8.02% | 4.77% | 9.78% | -6.19% | |
69 Neutral | $6.79B | 21.98 | 9.31% | 2.74% | -0.48% | 6.40% | |
69 Neutral | $6.00B | 29.28 | 6.36% | 2.83% | 10.23% | 114.67% | |
66 Neutral | $8.85B | 18.05 | 10.76% | 3.81% | 16.01% | 19.05% | |
66 Neutral | $17.50B | 17.93 | 5.60% | 3.63% | 6.62% | 11.55% | |
65 Neutral | $10.46B | 18.05 | 8.90% | 4.05% | 7.47% | -8.53% | |
61 Neutral | $5.22B | 35.17 | 2.89% | 6.16% | -19.56% | -83.31% |
* Utilities Sector Average
Performance Comparison
IDA
IdaCorp
125.73
25.28
25.17%
OGE
OGE Energy
44.20
4.83
12.27%
PNW
Pinnacle West Capital
88.37
1.25
1.43%
TXNM
TXNM Energy
56.96
16.00
39.06%
POR
Portland GE
42.48
-3.92
-8.45%
ENIC
Enel Chile SA
3.74
1.19
46.67%
IdaCorp Corporate Events
Business Operations and StrategyFinancial Disclosures
IDACORP Reports Q2 2025 Income Growth and Project Launch
Positive
Jul 31, 2025
On July 31, 2025, IDACORP, Inc. reported a net income of $95.8 million for the second quarter of 2025, an increase from $89.5 million in the same period of 2024. The growth was attributed to higher customer usage, customer growth, and rate changes, partially offset by increased depreciation and financing costs. The company also announced the commencement of the Boardman-to-Hemingway transmission line project, highlighting its commitment to infrastructure development. Additionally, IDACORP raised the lower end of its full-year 2025 earnings guidance, expecting to utilize significant tax credits under the Idaho regulatory mechanism.
The most recent analyst rating on (IDA) stock is a Hold with a $125.00 price target. To see the full list of analyst forecasts on IdaCorp stock, see the IDA Stock Forecast page.
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.