IDACORP INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data IDACORP INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,262	1,349	1,371	1,346	1,351	1,458	1,644	1,766	1,827	1,813
Operating expenses	978	1,034	1,074	1,048	1,041	1,128	1,317	1,453	1,499	1,459
Operating income	284	316	297	298	310	330	327	313	328	354
Interest expense	82	83.7	85.9	86.5	87.4	86.7	89.4	116	136	168
Interest income	4.47	3.87	5.61	8.18	3.81	1.41	5.95	15.3	22.6	23.9
Other non-operating income	15.9	12.5	-52	-40.5	-42.9	-46.9	-29.8	-24.3	-22.8	-43.6
Pre-tax income	235	262	245	258	267	283	297	289	305	310
Income tax	36.4	48.7	17.4	24.5	28.7	36.9	37.8	27.3	15.1	-13.7
Net income to minority interests	-0.2	0.77	0.72	0.47	0.55	0.32	0.58	0.7	0.78	0.66
Net income	198	212	227	233	237	246	259	261	289	323
EBITDA	431	481	466	472	485	509	501	513	556	612
EPS, basic	3.94	4.22	4.50	4.61	4.70	4.85	5.11	5.15	5.50	5.96
EPS, diluted	3.94	4.21	4.49	4.61	4.69	4.85	5.11	5.14	5.50	5.90
Shares, basic (weighted)	50.3	50.4	50.4	50.5	50.5	50.6	50.7	50.7	52.5	54.2
Shares, diluted (weighted)	50.4	50.4	50.5	50.5	50.6	50.6	50.7	50.8	52.6	54.8
Dividend per share	2.08	2.24	2.40	2.56	2.72	2.88	3.04	3.20	3.35	3.46

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	61.5	76.6	267	217	275	215	178	327	369	216
Short-term investments				0	25	0
Receivables	71.6	75.2	77.2	72.7	72.8	78.8	114	107	115	97.7
Other current assets	5.96	0.02	3.66	0.41	2	5.71	40.3	0.07	0	0
Total current assets	440	444	598	565	642	596	694	1,004	988	833
Property, plant and equipment	4,172	4,284	4,396	4,531	4,710	4,902	5,173	5,745	6,517	7,648
Long-term investments	125	116	101	98.2	127	124	121	164	161	155
Other non-current assets	62.1	59.4	62.9	61	58.5	59.2	59.4	53.8	62.1	56
Total assets	6,290	6,045	6,383	6,641	7,095	7,211	7,543	8,476	9,239	10,225
Accounts payable	106	90.3	111	111	121	146	293	309	307	345
Accrued liabilities	45.8	47	55.1	52.6	52.2	55.7	59.3	64.6	70.5	77.2
Deferred revenue				28.5	29.3	43.5	72.2	104	165	202
Short-term debt	1.06	0	0	100	0	0	0	49.8	19.9	116
Total current liabilities	250	201	259	375	288	326	549	634	701	898
Long-term debt	1,745	1,746	1,835	1,737	2,000	2,001	2,194	2,776	3,054	3,331
Other non-current liabilities	45.1	44.6	43.2	45.1	48.8	63.5	77.3	160	182	230
Total liabilities	4,132	3,789	4,007	4,171	4,529	4,535	4,729	5,561	5,901	6,647
Total debt	1,746	1,746	1,835	1,837	2,000	2,001	2,194	2,776	3,054	3,331
Retained earnings	1,323	1,427	1,532	1,635	1,734	1,834	1,938	2,036	2,150	2,285
Treasury stock	-0.24	-1.39	-1.93	-1.92	0
Other comprehensive income	-20.9	-31	-22.8	-36.3	-43.4	-40	-12.9	-17.2	-13.6	-14.9
Shareholders' equity	2,154	2,251	2,370	2,465	2,560	2,668	2,807	2,908	3,331	3,572
Minority interests	3.96	4.73	5.45	5.93	6.48	6.8	7.38	7.17	7	6.81
Total equity	2,158	2,256	2,376	2,471	2,566	2,675	2,815	2,915	3,338	3,579
Total liabilities and equity	6,290	6,045	6,383	6,641	7,095	7,211	7,543	8,476	9,239	10,225

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	198	213	228	233	238	246	260	262	290	324
Depreciation and amortization	147	166	169	174	176	179	174	200	228	258
Stock-based compensation	5.56	7.38	9.36	8.79	7.42
Deferred income tax	33.3	23.9	1.68	10.6	10.1	-0.63	-9.61	-21.7	-89.2	-45.4
Change in receivables	-6.32	1.05	0.73	-6	-7.63	-9.43	-81.5	-17.6	31.4	9.69
Change in payables	13.3	-17.2	29.7	-9.53	-5.38	-6.58	-2.16	-3.22	-8.93	-3.67
Cash from operations	344	435	492	367	388	363	351	267	594	602
Capital expenditures	-297	-285	-278	-279	-311	-300	-433	-611	-1,009	-1,179
Purchases of investments			0	0	-25	-25	-25	0	0
Cash from investing	-294	-280	-258	-280	-347	-274	-424	-590	-918	-1,029
Debt issued	120	0	220	166	310	0	198	872	300	400
Debt repaid	-101	-1.06	-130	-166	-175	0	-4.36	-225	-49.8	-19.9
Stock issued							0	0	298	97.8
Share buybacks	-3.33	-3.21	-3.61	-4.16	-4.64	-3.03	-3.11	-3.27	-3.78	-3.34
Dividends paid	-105	-113	-121	-130	-138	-146	-154	-164	-177	-188
Cash from financing	-104	-140	-42.6	-136	17	-149	35.3	473	365	274
Net change in cash	-53.3	15.2	191	-50.2	57.9	-59.9	-37.7	150	41.4	-153
Free cash flow	47.2	150	214	87.9	77.2	63.3	-81.3	-344	-415	-577
Interest paid	78.3	80	81	85.3	81.1	83.5	86	97.7	109	139
Income taxes paid	3.3	14.7	5.27	14.1	9.98	34.3	45.9	6.2	25.2	24.5

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $129.78 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	19.5%	Operating income / revenue.
EBITDA margin	33.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	17.1%	Pre-tax income / revenue.
Net margin	17.8%	Net income / revenue.
FCF margin	-31.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	33.2%	Cash from operations / revenue.
Effective tax rate	-4.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	9.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.3%	Net income / average total assets.
Return on invested capital (ROIC)	4.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Capex / revenue	65.0%	Capital expenditures / revenue.
D&A / revenue	14.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-0.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	3.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	8.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	2.7%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	2.7%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	10.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	6.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	4.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	11.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	7.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	6.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	7.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	4.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	4.7%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	1.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	19.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	9.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	3.3%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	4.4%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	4.9%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	7.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	6.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	10.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	10.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	7.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	4.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	2.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.93x	Current assets / current liabilities.
Quick ratio	0.35x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.24x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.93x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	32.6%	Total debt / total assets.
Liabilities / assets	65.0%	Total liabilities / total assets.
Net debt	$3.12B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	5.09x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	2.10x	Operating income / interest expense.
Working capital	-$64.4M	Current assets - current liabilities.
Tangible book value	$3.57B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.19x	Revenue / average total assets.
Fixed asset turnover	0.26x	Revenue / average property, plant and equipment.
Receivables turnover	17.1x	Revenue / average receivables.
Days sales outstanding	21 days	365 x average receivables / revenue.
FCF conversion	-178.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	196.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$5.90	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$5.96	Net income per basic share, as reported (split-adjusted).
Revenue per share	$33.08	Revenue / diluted weighted shares.
FCF per share	-$10.54	Free cash flow / diluted weighted shares.
Operating cash flow per share	$10.98	Cash from operations / diluted weighted shares.
Book value per share	$65.17	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$65.17	Tangible book value / shares outstanding.
Cash per share	$3.94	(Cash + short-term investments) / shares outstanding.
Dividend per share	$3.46	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	58.3%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$7.51B	Share price x shares outstanding.
Enterprise value	$10.62B	Market cap + total debt - cash - short-term investments.
P/E	23.2x	Market cap / net income. Only when net income is positive.
P/S	4.14x	Market cap / revenue.
P/B	2.10x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.10x	Market cap / tangible book value, when positive.
P/OCF	12.5x	Market cap / cash from operations, when positive.
EV/Sales	5.86x	Enterprise value / revenue.
EV/EBIT	30.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	17.3x	Enterprise value / EBITDA, when both are positive.
FCF yield	-7.7%	Free cash flow / market cap.
Earnings yield	4.3%	Net income / market cap (the inverse of P/E).
Dividend yield	2.5%	Dividends paid over the period / market cap.
Shareholder yield	2.6%	(Dividends paid + share buybacks) / market cap.
PEG	4.73x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was IDACORP INC's revenue in fiscal 2025?

IDACORP INC reported revenue of $1.81B for fiscal 2025, 0.7% lower than the year before.

Was IDACORP INC profitable in fiscal 2025?

Yes. Net income was $323.5M, a net margin of 17.8%.

How much free cash flow did IDACORP INC generate in fiscal 2025?

Cash from operations of $601.8M minus capital expenditures of $1.18B left free cash flow of -$577.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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