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Alliant Energy Corporation

LNT Utilities Utilities Regulated Electric

Alliant Energy Corporation’s revenue for fiscal 2025 (year ended December 2025) was $4.4 billion, up 9.57% from fiscal 2024.

Revenue
+6.20%
EPS
+40.4%
Free cash flow
−103.4%
Total debt
+5.39%

Quarter to September 2026, against a year earlier

73.44 0.33 −0.45%
Market cap
$19.1B
P/E
20.3×
Fwd P/E
20.8×
Dividend yield
2.91%
F-score
6/9
Altman Z
1.09
Beneish M
−2.46
Dividend safety
38/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2021

  • Electric
  • Gas
  • Non-Utility and Other
  • Other Utility

Every year since 2016 →

Insider Decisions last twelve months

Sold, $m 0.00
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — 1 — — —
Insider Ownership 0.14%

Capital & Financial Ratios $m

Size
Market Cap 19,050.00
Revenue ttm 4,503.00
Net income ttm 934.00
Free cash flow ttm (1,463.00)
Net debt Q 12,537.00
Valuation
P/E 20.34
Forward P/E 20.80
Price / sales 4.23
Forward P/S Powerpack
Price / FCF 0.00
Price / book 2.44
Financial health
Current ratio Q 0.51 (below 1: weak)
Debt / equity Q 1.61
Interest coverage Q 2.68
Growth
Revenue growth Q +6.20% (above 0%: growing)
Operating income growth Q +11.46% (above 0%: growing)
EPS, this year +6.64%
EPS, next year A +7.17%
Revenue, next year A +4.38%
EPS, past 5 yrs +4.92%
EPS, next 5 yrs A +7.73%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 7.0×, against a ten-year median of 5.4×; over the ten years it ranged from 3.5× in 2016 to 7.2× in 2026.
P/E against its own 10 years 31.65%
10-year low 10-year high
P/S against its own 10 years 95.20%
10-year low 10-year high
P/B against its own 10 years 78.00%
10-year low 10-year high
EV/Sales against its own 10 years 99.12%
10-year low 10-year high

Dividends raised every year since 2018

Yield
2.91%
Annual rate
2.14
Payout ratio
59.6%
Growth, 2018–26
+6.03%/yr
  1. 1.34 ’18
  2. 1.42 ’19 +6
  3. 1.52 ’20 +7
  4. 1.61 ’21 +6
  5. 1.71 ’22 +6
  6. 1.81 ’23 +6
  7. 1.92 ’24 +6
  8. 2.03 ’25 +6
  9. 2.14 ’26 +5
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 62 81 556 26
Receivables 475 427 476 529
Inventory 343 295 288 326
Other 392 381 377 417
1,272 1,184 1,697 1,298
2023 2024 2025 Q'26
Payables 611 532 498 599
ST’ Debt 1,284 1,729 1,162 1,478
Other 409 342 339 334
2,304 2,715 2,123 2,552

Compound Annual Growth %

10y 5y 3y
Sales 2.98% 5.01% 1.23%
Cash Flow 2.98% 18.47% 33.99%
Earnings 7.91% 5.70% 5.69%
Book Value 6.45% 4.49% 5.33%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.23 Actual 1.52

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.58 0.60 Beat by 0.02
Q1 FY26 0.82 0.82 Met by 0.00
Q2 FY26 0.66 0.65 Miss by 0.01
Q3 FY26 1.23 1.52 Beat by 0.29
Q4 FY26 0.73 — Reports 18 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.87 0.65 1.52 — —
’25 0.83 0.68 1.09 0.55 3.14
’24 0.62 0.34 1.15 0.58 2.69
’23 0.65 0.64 1.02 0.47 2.78
’22 0.77 0.63 0.90 0.43 2.73
’21 0.68 0.57 1.02 0.35 2.63
’20 0.70 0.54 0.98 0.26 2.47
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,184 971 1,285 — —
’25 1,128 961 1,210 1,063 4,362
’24 1,031 894 1,081 975 3,981
’23 1,077 912 1,077 961 4,027
’22 1,068 943 1,135 1,059 4,205
’21 901 817 1,024 927 3,669
’20 916 763 920 817 3,416
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 368 113 428 — —
’25 249 243 408 269 1,169
’24 307 255 351 254 1,167
’23 188 123 311 245 867
’22 251 49 185 1 486
’21 145 62 270 105 582
’20 160 159 117 65 501
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (46) (495) (356) — —
’25 (333) (240) (175) (566) (1,314)
’24 (203) (195) (123) (561) (1,082)
’23 (263) (246) (162) (316) (987)
’22 (79) (214) (164) (541) (998)
’21 (86) (165) (104) (232) (587)
’20 (129) (160) (249) (327) (865)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 28.2% a year for ten years.

Implied
28.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 3,320 3,382 3,534 3,648 3,416 3,669 4,205 4,027 3,981 4,362 4,503 +3.1% 4,553 4,820 5,148 +5.7%
Gross margin, % 68.42 69.56 69.24 72.62 75.59 75.47 71.01 74.30 78.60 76.96 77.64 +8.5 pt
EBT 443 533 570 636 567 600 708 707 576 661 713 +4.5%
EBT margin, % 13.36 15.75 16.13 17.43 16.60 16.35 16.84 17.56 14.47 15.15 15.83 +1.8 pt
Net income 382 468 522 567 624 674 686 703 690 810 934 +8.7%
Per share, $
Per share, $ Revenue 14.62 14.72 15.13 15.30 13.75 14.66 16.76 15.92 15.52 16.97 17.37 +1.7%
Earnings 1.64 1.99 2.19 2.34 2.47 2.63 2.73 2.78 2.69 3.15 3.61 +7.5%
Cash flow 1.73 2.27 2.26 2.77 2.02 2.33 1.94 3.43 4.55 4.55 4.54 +11.3%
Capex (5.27) (6.39) (6.99) (6.88) (5.50) (4.67) (5.91) (7.33) (8.77) (9.66) (10.19) +7.0%
Free cash flow (3.54) (4.12) (4.73) (4.11) (3.48) (2.35) (3.98) (3.90) (4.22) (5.11) (5.64) +4.2%
Book value 17.89 19.08 20.49 22.66 23.70 23.94 25.01 26.79 27.31 28.54 30.11 +5.3%
Shares, m 227 230 234 239 248 250 251 253 257 257 258 +1.4%
Valuation, ×
Valuation, × P/E 23.06 21.16 19.38 23.38 20.69 23.37 20.28 18.66 21.99 20.64 20.34 21.3
P/S 2.59 2.86 2.79 3.58 3.75 4.19 3.30 3.26 3.81 3.83 4.23 3.4
P/B 2.23 2.31 2.15 2.51 2.25 2.57 2.21 1.94 2.17 2.28 2.44 2.3
EV/Sales 3.97 4.41 4.47 5.36 5.83 6.33 5.37 5.61 6.40 6.48 7.01 5.4
EV/FCF (16.38) (15.79) (14.28) (19.96) (23.02) (39.56) (22.64) (22.87) (23.56) (21.51) (21.59) (22.0)
Cash, $m
Cash, $m Operating cash flow 393 522 528 660 501 582 486 867 1,167 1,169 1,178 +12.9%
Capex (1,197) (1,467) (1,634) (1,640) (1,366) (1,169) (1,484) (1,854) (2,249) (2,483) (2,641) +8.4%
Free cash flow (804) (945) (1,106) (980) (865) (587) (998) (987) (1,082) (1,314) (1,463) +5.6%
Balance, $m
Balance, $m Working capital (285) (1,244) (859) (1,178) (410) (985) (1,113) (1,032) (1,531) (426) (1,254) +4.6%
Net debt 4,556 5,254 5,923 6,511 7,112 7,844 8,698 9,447 10,325 11,560 12,537 +10.9%
Shareholders’ equity 4,062 4,382 4,786 5,405 5,888 5,990 6,276 6,777 7,004 7,334 7,808 +6.8%
Returns, %
Returns, % ROA 2.87 3.32 3.46 3.47 3.57 3.63 3.54 3.40 3.14 3.40 3.69 +0.5 pt
ROIC 4.02 4.35 4.05 4.08 3.56 3.59 3.87 3.63 3.20 3.39 3.13 (0.6) pt
ROE 9.79 11.37 11.68 11.38 11.27 11.29 11.19 10.77 10.01 11.30 12.36 +1.5 pt
People
People Employees 3,978 3,989 3,885 3,597 3,375 3,313 3,129 3,281 2,998 2,948 — (3.3%)
Revenue/emp, $m 0.83 0.85 0.91 1.01 1.01 1.11 1.34 1.23 1.33 1.48 — +6.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Alliant Energy Corporation is a regulated utility holding company headquartered in Madison, Wisconsin. Founded in 1981, it is led by President and Chief Executive Officer Lisa M. Barton. Its principal business is providing electricity and natural gas to customers in the Midwest through two utility subsidiaries: Interstate Power and Light, or IPL, and Wisconsin Power and Light, or WPL.

IPL generates and distributes electricity and distributes and transports natural gas in selected Iowa markets. WPL performs those functions in selected Wisconsin markets. The utilities serve homes, businesses and industrial facilities, and they also sell electricity to wholesale customers. Their gas transportation service moves gas owned by commercial and industrial customers through the utilities’ distribution systems to customers’ meters.

Where the money comes from and where it goes Fiscal 2021

Fiscal 2021: revenue by segment, and margins
Electric 3,081 83.97%
Gas 456 12.43%
Non-Utility and Other 83 2.26%
Other Utility 49 1.34%
Gross margin 75.47%
Operating margin 21.67%
Pre-tax margin 16.35%

Revenue by segment since 2016

Alliant Energy Corporation vs peers in Utilities Regulated Electric (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
FE FirstEnergy Corporation $27.3B 22.6× 17.1× +9.86% (above 0%: growing) +26.32% (above 0%: growing) −44.47% (below 0%: shrinking) 63.57% 20.52% Compare
ES Eversource Energy $27.1B 18.6× 15.6× +2.29% (above 0%: growing) −85.42% (below 0%: shrinking) +398.93% (above 0%: growing) 67.64% 18.63% Compare
PPL PPL Corporation $27.1B 21.2× 18.7× +4.25% (above 0%: growing) +24.00% (above 0%: growing) −112.80% (below 0%: shrinking) 71.67% 22.50% Compare
CNP CenterPoint Energy, Inc. $26.5B 22.8× 23.3× +10.21% (above 0%: growing) +11.29% (above 0%: growing) −27.29% (below 0%: shrinking) 91.42% 30.44% Compare
EIX Edison International $23.4B 6.5× 9.9× −15.03% (below 0%: shrinking) −12.96% (below 0%: shrinking) +41.59% (above 0%: growing) 65.47% 20.06% Compare
CMS CMS Energy Corporation $22.2B 33.3× 19.2× +8.02% (above 0%: growing) n/m +26.30% (above 0%: growing) 63.03% 2.15% Compare
EVRG Evergy Inc. $20.2B 18.9× 20.1× +15.84% (above 0%: growing) +28.64% (above 0%: growing) −62.16% (below 0%: shrinking) 0.00% 38.56% Compare
LNT Alliant Energy Corporation $19.1B 20.3× 20.8× +6.20% (above 0%: growing) +40.37% (above 0%: growing) −103.43% (below 0%: shrinking) 81.71% 30.27%
KEP Korea Electric Power Corporation $14.3B 2.6× 4.1× −0.14% (below 0%: shrinking) −77.78% (below 0%: shrinking) −689.05% (below 0%: shrinking) 8.72% 5.15% Compare
Median of peers $25.0B 20.0× 17.9× +6.14% +11.29% −35.88% 64.52% 20.29%

All 39 Utilities Regulated Electric stocks →

From the latest earnings call

Updated

  • CEO Lisa Barton said five data centers support Alliant’s expectation of greater than 60% contracted demand growth by 2031, with three under construction.
  • CFO Robert Durian said Alliant’s refreshed 2027–2030 capital plan totals $15.9 billion and includes additional gas generation and energy storage.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 97.17%
Held by the ten largest 51.46%
Holder Shares Stake Change
Vanguard 34.10m 13.15% +29.22k
BlackRock 24.99m 9.64% +487.23k
State Street 17.57m 6.78% +561.35k
T. Rowe Price 11.52m 4.44% +904.65k
Jupiter Topco 10.98m 4.23% +10.98m
Nuveen (TIAA) 7.90m 3.05% +449.97k
Geode Capital Management 7.41m 2.86% +149.42k
MFS Investment Management 6.94m 2.68% −110.72k
Victory Capital 6.44m 2.48% −796.45k
Bank of America 5.58m 2.15% +237.75k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 31 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 9.00m 10.80m 147.98
2024 6.97m 8.54m 130.45
2023 9.71m 7.24m 109.28
2022 7.29m 5.36m 113.55
2021 10.45m 10.19m 122.71
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Alliant Energy Corporation (LNT) Latest News

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Impact 3 · · Zacks

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Impact 3 · · PR Newswire

14 Oct

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12 Oct

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7 Oct

Impact 3 · · Zacks

23 Sep

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18 Sep

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24 Aug

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31 Jul

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30 Jul

Impact 3 ·
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16 Jul

Impact 3 · · jsonline.com

14 Jul

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9 Jul

Impact 4 ·

LNT metrics, ten years each

stockrow.com/LNT · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com