IdaCorp (IDA)
NYSE:IDA
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IdaCorp
(NYSE:IDA)
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Rating:60Neutral
Price Target:
$149.00
â–²(0.70% Upside)
Action:Reiterated
Date:05/22/26
The score is driven mainly by mixed fundamentals: strong, stable profitability is outweighed by persistently negative free cash flow and higher leverage during a heavy capex cycle. The earnings call is constructive with reaffirmed guidance and visible project/load momentum, but credit and financing needs remain notable risks. Technically the stock shows near-term softness, and valuation is constrained by a high P/E with only moderate dividend support.
Positive Factors
Stable Regulated Profitability
As a regulated utility, IdaCorp produces steady, above-average operating margins (~18%) driven by rate mechanisms and cost recovery. That structural regulatory model supports durable earnings quality and predictable cash generation from core operations over multi-year horizons, insulating core profits from typical commodity swings.
Negative Factors
Negative Free Cash Flow
Sustained deeply negative free cash flow from elevated capex means internal cash cannot fund growth, forcing reliance on external capital. Over months to years this raises financing needs, increases dilution or borrowing, and constrains flexibility to absorb cost shocks or pursue opportunistic investments without costly funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable Regulated Profitability
As a regulated utility, IdaCorp produces steady, above-average operating margins (~18%) driven by rate mechanisms and cost recovery. That structural regulatory model supports durable earnings quality and predictable cash generation from core operations over multi-year horizons, insulating core profits from typical commodity swings.
Read all positive factors
IdaCorp (IDA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.68B
Dividend Yield2.72%
Average Volume (3M)526.74K
Price to Earnings (P/E)23.4
Beta (1Y)0.07
Revenue Growth-2.03%
EPS Growth7.94%
CountryUS
Employees2,130
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)6.11
Shares Outstanding55,408,234
10 Day Avg. Volume520,655
30 Day Avg. Volume526,738
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 Cap1.49
Enterprise Value/Revenue6.42
Enterprise Value/Gross Profit31.76
Enterprise Value/Ebitda16.10
Forecast
1Y Price Target
$149.60Price Target Upside1.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)6.39
Revenue Forecast (FY)$1.99B
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 makes money primarily through the regulated sale and delivery of electricity by its utility subsidiary, Idaho Power. The core revenue stream is retail electric service: customers pay for electricity supply and for use of the transmission a...
IdaCorp Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call conveyed solid operational and financial momentum: EPS improved ~10% year-over-year, customer counts and industrial sales are rising, major transmission and generation projects are progressing, and management has executed meaningful equity-forward financing. Offsetting risks include weather-driven lower usage this quarter, higher O&M and interest costs from an elevated CapEx program, a trimmed hydropower outlook, and recent rating pressure that requires continued equity issuance and careful financing. On balance, the positives from growth, project progress, reaffirmed guidance, and financing execution outweigh the near-term headwinds and execution/credit risks.Positive Updates
Earnings Per Share Growth
Diluted EPS of $1.21 in Q1 2026 versus $1.10 in Q1 2025, an increase of approximately 10%, and management reaffirmed full-year 2026 EPS guidance of $6.25 to $6.45.
Negative Updates
Weather-Related Usage Decline
Unusually mild weather reduced usage per customer and decreased operating income by $10.7 million in Q1 versus prior year, prompting a downward trim to the top end of hydropower guidance.
Read all updates
Q1-2026 Updates
Positive
Negative
Earnings Per Share Growth
Diluted EPS of $1.21 in Q1 2026 versus $1.10 in Q1 2025, an increase of approximately 10%, and management reaffirmed full-year 2026 EPS guidance of $6.25 to $6.45.
Read all positive updates
Company Guidance
Management reaffirmed 2026 guidance of $6.25–$6.45 diluted EPS, assuming historically normal weather and normal power supply expenses, and expects Idaho Power to use less than $30 million of additional investment tax credit amortization (vs. ~$40 million in 2025); full-year O&M is guided to $525M–$535M and 2026 CapEx to $1.3B–$1.5B, with hydropower generation narrowed to 5.5–7.0 million MWh. In Q1 diluted EPS was $1.21 (vs. $1.10), net income rose by >$8M, Q1 ADITC amortization was $6.3M (about $13M less than Q1 2025), customer counts are +2.3% year‑over‑year (residential +2.4%), industrial energy sales +5.7%, and the company is running an 8.3% IRP growth assumption with a ~4,000 MW pipeline and an RFP aimed at at least 200 MW. Operational and resource milestones include ~250 MW company‑owned batteries coming online this quarter, 125 MW third‑party solar later this year, Bennett Mountain 167 MW plant (company‑owned, targeted in‑service 2028), South Hills 222 MW (2029) and Peregrine 430 MW (2030), B2H transmission in service late‑2027 (200 structures ≈15% complete), SWIFT North and Gateway West sections as early as 2028, and a financing plan that estimates roughly $2B equity and $2.9B debt to sustain a ~50/50 capital structure (net cash flow funding >50% of 2026–2030 CapEx), having executed $155M of ATM forwards and settled ~$52M with >$750M of forwards settled/executed to date.IdaCorp Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
63
Positive
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.78B | 1.81B | 1.83B | 1.77B | 1.64B | 1.46B |
| Gross Profit | 360.32M | 401.43M | 331.85M | 316.84M | 330.11M | 332.24M |
| EBITDA | 710.84M | 737.01M | 668.96M | 605.55M | 560.33M | 548.93M |
| Net Income | 331.81M | 323.47M | 289.17M | 261.19M | 258.98M | 245.55M |
Balance Sheet | ||||||
| Total Assets | 10.59B | 10.59B | 9.24B | 8.48B | 7.54B | 7.21B |
| Cash, Cash Equivalents and Short-Term Investments | 337.76M | 215.72M | 368.87M | 327.43M | 177.58M | 215.24M |
| Total Debt | 4.01B | 3.66B | 3.07B | 2.83B | 2.19B | 2.00B |
| Total Liabilities | 6.94B | 7.02B | 5.90B | 5.56B | 4.73B | 4.54B |
| Stockholders Equity | 3.64B | 3.57B | 3.33B | 2.91B | 2.81B | 2.67B |
Cash Flow | ||||||
| Free Cash Flow | -796.16M | -577.49M | -414.86M | -344.11M | -81.30M | 63.27M |
| Operating Cash Flow | 553.37M | 601.84M | 594.42M | 267.03M | 351.29M | 363.26M |
| Investing Cash Flow | -1.14B | -1.03B | -917.66M | -589.95M | -424.27M | -273.65M |
| Financing Cash Flow | 292.16M | 273.92M | 364.68M | 472.77M | 35.32M | -149.48M |
IdaCorp Technical Analysis
Positive
147.96
Price Trends
143.06
Negative
140.06
Positive
133.40
Positive
Market Momentum
-1.33
Positive
50.40
Neutral
45.09
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 147.96 is above the 20-day moving average (MA) of 141.05, above the 50-day MA of 143.06, and above the 200-day MA of 133.40, indicating a neutral trend. The MACD of -1.33 indicates Positive momentum. The RSI at 50.40 is Neutral, neither overbought nor oversold. The STOCH value of 45.09 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | $5.60B | 12.66 | 0.04% | 5.63% | 8.85% | 191.04% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
62 Neutral | $9.69B | 21.52 | 9.47% | 3.82% | 4.11% | -6.40% | |
60 Neutral | $7.68B | 23.44 | 9.42% | 2.72% | -2.03% | 7.94% | |
60 Neutral | $12.18B | 19.12 | 9.34% | 4.15% | 4.84% | 5.77% | |
60 Neutral | $5.75B | 22.24 | 6.25% | 4.38% | 4.28% | -21.65% | |
53 Neutral | $6.56B | 37.62 | 4.35% | 2.80% | 8.46% | -38.43% |
* Utilities Sector Average
IDA
IdaCorp
141.34
29.18
26.02%
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IdaCorp Corporate Events
Executive/Board ChangesShareholder Meetings
IDACORP Shareholders Back Board, Pay, and Auditor Choices
Positive
May 22, 2026
At its 2026 Annual Meeting of Shareholders held on May 21, 2026, IDACORP shareholders elected ten directors to one-year terms, including one new board member, Sharon L. Miller, with all nominees receiving a plurality of votes. The continuity of th...
Business Operations and StrategyPrivate Placements and Financing
IDACORP Establishes New Equity Distribution and Forward Agreements
Neutral
May 15, 2026
On May 15, 2026, IDACORP entered into an equity distribution agreement that allows it to issue and sell up to $600 million of common stock through at-the-market offerings and other methods, including privately negotiated transactions. The shares w...
Business Operations and StrategyFinancial Disclosures
IDACORP posts stronger Q1 2026 results, reaffirms guidance
Positive
Apr 30, 2026
On April 30, 2026, IDACORP, Inc. reported first-quarter 2026 net income of $68.0 million, or $1.21 per diluted share, up from $59.6 million, or $1.10 per diluted share, a year earlier, driven by customer growth, higher retail revenues per megawatt...
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.