IDACORP raised guidance, prompting questions if the upside is already priced in. Guidance increase points to stronger future results but questions over priced-in upside limit broader market effects.
| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | 2 | 1 | — | 1 | 1 | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 3.60 |
—
—
—
|
| 2025 | 3.46 |
—
—
—
—
|
| 2024 | 3.35 |
—
—
—
—
|
| 2023 | 3.20 |
—
—
—
—
|
| 2022 | 3.04 |
—
—
—
—
|
| 2021 | 2.88 |
—
—
—
—
|
| 2020 | 2.72 |
—
—
—
—
|
| 2019 | 2.56 |
—
—
—
—
|
| 2018 | 2.40 |
—
—
—
—
|
| 2017 | 2.24 |
—
—
—
—
|
| 2016 | 2.08 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 327.43 | 368.87 | 215.72 | 83.64 |
| Receivables | 176.49 | 158.38 | 144.16 | 171.03 |
| Inventory | 160.47 | 244.72 | 226.35 | 228.37 |
| Other | 316.83 | 187.03 | 216.60 | 422.25 |
| 1,004.05 | 988.46 | 833.40 | 944.60 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 308.50 | 307.13 | 344.87 | 341.29 |
| ST’ Debt | 49.80 | 19.89 | 116.30 | 116.30 |
| Other | 165.98 | 253.57 | 302.34 | 358.94 |
| 634.08 | 700.80 | 897.84 | 958.30 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 403.41 | 469.80 | — | — |
—
|
| ’25 | 432.46 | 450.88 | 524.42 | 405.24 |
1,813.00
|
| ’24 | 448.94 | 451.04 | 528.53 | 398.13 |
1,826.63
|
| ’23 | 429.66 | 413.84 | 510.91 | 411.95 |
1,766.36
|
| ’22 | 344.29 | 358.72 | 518.01 | 422.96 |
1,643.98
|
| ’21 | 316.05 | 360.07 | 446.94 | 335.01 |
1,458.08
|
| ’20 | 291.01 | 318.77 | 425.26 | 315.69 |
1,350.73
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 75.81 | 103.22 | — | — |
—
|
| ’25 | 124.29 | 176.94 | 162.84 | 137.77 |
601.84
|
| ’24 | 109.69 | 146.36 | 201.94 | 136.44 |
594.42
|
| ’23 | (90.40) | 97.18 | 155.25 | 105.00 |
267.03
|
| ’22 | 93.00 | 62.96 | 113.02 | 82.31 |
351.29
|
| ’21 | 83.66 | 83.53 | 136.21 | 59.86 |
363.26
|
| ’20 | 33.80 | 94.82 | 155.42 | 104.10 |
388.13
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (295.71) | (301.15) | — | — |
—
|
| ’25 | (77.04) | (150.07) | (127.89) | (216.20) |
(577.49)
|
| ’24 | (150.29) | (199.56) | (16.13) | (48.87) |
(414.86)
|
| ’23 | (208.77) | (58.61) | 2.21 | (78.93) |
(344.11)
|
| ’22 | (9.54) | (28.60) | 1.84 | (45.01) |
(81.30)
|
| ’21 | 6.37 | 32.56 | 67.54 | (43.20) |
63.27
|
| ’20 | (39.77) | 23.27 | 87.13 | 6.56 |
77.19
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 1.21 | 1.79 | — | — |
—
|
| ’25 | 1.10 | 1.76 | 2.26 | 0.78 |
5.90
|
| ’24 | 0.95 | 1.71 | 2.12 | 0.70 |
5.50
|
| ’23 | 1.11 | 1.35 | 2.07 | 0.61 |
5.14
|
| ’22 | 0.91 | 1.27 | 2.10 | 0.83 |
5.11
|
| ’21 | 0.89 | 1.38 | 1.93 | 0.65 |
4.85
|
| ’20 | 0.74 | 1.19 | 2.02 | 0.74 |
4.69
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | 93.53 | 88.10 | 86.43 | 104.74 | — | — | — |
Low Price
|
| ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 118.92 | 112.96 | 120.42 | 138.03 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,070 | 2,112 | 2,141 | 2,185 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.79 | 0.84 | 0.85 | 0.83 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,643.98 | 1,766.36 | 1,826.63 | 1,813.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 59.01% | 55.62% | 57.62% | 63.01% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 297.40 | 289.19 | 305.00 | 310.42 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 18.09% | 16.37% | 16.70% | 17.12% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 259.56 | 261.89 | 289.95 | 324.13 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 173.56 | 199.91 | 228.09 | 258.40 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 32.45 | 34.83 | 34.76 | 33.43 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | 5.11 | 5.15 | 5.50 | 5.90 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 6.93 | 5.27 | 11.31 | 11.10 | ‡‡‡‡ | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (8.54) | (12.05) | (19.21) | (21.74) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.60) | (6.78) | (7.90) | (10.65) | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 55.56 | 57.47 | 63.53 | 65.98 | ‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 50.66 | 50.72 | 52.54 | 54.24 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 21.18 | 19.26 | 19.87 | 21.27 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.34 | 2.85 | 3.14 | 3.79 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.95 | 1.73 | 1.72 | 1.92 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.61 | 4.26 | 4.62 | 5.57 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (97.39) | (22.10) | (20.53) | (17.76) | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 351.29 | 267.03 | 594.42 | 601.84 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (432.59) | (611.14) | (1,009.28) | (1,179.33) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (81.30) | (344.11) | (414.86) | (577.49) | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 145.09 | 369.98 | 287.65 | (64.43) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,194.15 | 2,825.59 | 3,073.66 | 3,447.34 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,016.57 | 2,498.16 | 2,704.80 | 3,231.62 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,814.62 | 2,914.74 | 3,337.96 | 3,578.69 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.51% | 3.26% | 3.26% | 3.32% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.23% | 3.62% | 3.39% | 3.25% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.43% | 9.12% | 9.25% | 9.35% | — | — | — |
ROE
|
IDACORP (IDA), the holding company for Idaho Power, has delivered resilient revenue growth at a 4.7% CAGR over the past decade, propelled by Idaho’s population boom, rate hikes, and industrial demand—climbing from $1.26 billion in 2016 to $1.83 billion in 2024. Operational efficiency gleams with revenue per employee surging 23% to $853K and per share up 30%, outpacing modest headcount and share dilution. Yet, this masks softening margins—gross down 15% to 57.6%, EBT to 16.7%—as cost inflation bites, while ROIC has plunged 25% to 3.4%, signaling eroding returns in a capital-hungry sector.
The real plot twist is IDA’s capex explosion: spending rocketed 225% to $1.01 billion in 2024 for wildfire hardening and renewables (500 MW added since 2015), flipping free cash flow deeply negative (-$415 million) and doubling debt to $3.07 billion. Shares hover near highs with analysts split—mean target flat, ranging 18% downside to 8% upside—and insiders selling without buys scream caution amid projections of 14% EPS CAGR to 2027 ($6.86). Valuation looks textbook (20x PE, 1.7x PB), but negative EV/FCF and leverage risks loom large.
Projections promise earnings acceleration and margin relief from capex efficiencies and green tailwinds like the IRA, eyeing 5-10% annualized returns blending yield and growth. But bears lurk in capex peaks, debt strains (307% of equity), and renewable execution—if margins don’t stabilize, this utility staple could falter. Dive deeper for the full risk-reward dissection.
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