IDACORP, Inc. (IDA) vs NorthWestern Corporation (NWE)

IDACORP, Inc. and NorthWestern Corporation are both Utilities Regulated Electric companies. IDACORP, Inc. is the larger, with a market value of $8.7B against $5.1B — 1.7× the size. IDACORP, Inc. trades at the lower P/E: 22.1× against 30.8×. NorthWestern Corporation grew revenue faster over the last twelve months: 10.1% against 4.46%. IDACORP, Inc. has the higher net margin (19.9% vs 9.48%) and the higher return on invested capital (3.58% vs 3.04%). Both pay a dividend; NorthWestern Corporation yields more (3.26% vs 2.41%). Across the 22 metrics below, IDACORP, Inc. leads on 13 and NorthWestern Corporation on 9.

Valuation

Metric IDA NWE Utilities Regulated Electric median
P/E 22.11 30.79 19.45
P/S 4.49 2.92 2.78
P/B 2.08 1.74 1.82
Price to free cash flow n/m n/m 45.34
EV/EBITDA 16.97 14.84 12.40
EV/Sales 6.50 4.99 4.95
Earnings yield 4.52% 3.25% 5.12%
Free cash flow yield (11.25%) (3.84%) (5.93%)

Profitability

Metric IDA NWE Utilities Regulated Electric median
Gross margin 68.26% 0.00% 62.00%
Operating margin 23.54% 18.11% 21.72%
Net margin 19.85% 9.48% 13.45%
Free cash flow margin (52.70%) (11.21%) (11.71%)
Return on equity 9.89% 5.68% 9.94%
Return on assets 3.49% 1.91% 2.85%
Return on invested capital 3.58% 3.04% 3.95%

Growth

Metric IDA NWE Utilities Regulated Electric median
Revenue growth (TTM) 4.46% 10.09% 7.78%
EPS growth (last fiscal year) 7.27% (19.45%) 6.01%
Revenue growth, 5-year CAGR 6.06% 6.09% 6.72%
Net income growth, 5-year CAGR 6.38% 3.13% 6.50%

Health

Metric IDA NWE Utilities Regulated Electric median
Debt to equity 0.95 1.24 1.54
Current ratio 1.18 0.90 0.88
Net debt to EBITDA 5.28 5.61 5.27

Dividend

Metric IDA NWE Utilities Regulated Electric median
Dividend yield 2.41% 3.26% 3.16%
Payout ratio 0.54 1.01 0.63

Size

Metric IDA NWE Utilities Regulated Electric median
Market cap 8.67b 5.05b 26.54b

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