IDACORP, Inc. (IDA) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-132.1%

-$47.09

vs $146.77 price

Levered DCF

-$26.34

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.37

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	21.23×	19.87×	19.09×	21.11×	23.36×	20.43×	23.17×	20.68×
P/B	1.92×	1.72×	1.72×	1.95×	2.15×	1.9×	2.19×	1.98×
P/S	3.79×	3.14×	2.82×	3.32×	3.93×	3.59×	4.01×	3.42×
EV / EBITDA	13.99×	12.63×	12.36×	13.35×	13.7×	12.41×	13.54×	12.52×
Gross margin	22.1%	18.2%	17.9%	20.1%	22.8%	23.1%	22.4%	21.8%
Operating margin	21.9%	17.9%	17.7%	19.9%	22.6%	22.9%	22.2%	21.7%
Net margin	17.8%	15.8%	14.8%	15.8%	16.8%	17.6%	17.3%	16.5%
Current ratio	0.93×	1.41×	1.58×	1.26×	1.83×	2.23×	1.51×	2.31×
Debt / equity	1.03×	0.92×	0.97×	0.78×	0.75×	0.78×	0.75×	0.77×
Interest coverage	2.36×	2.41×	2.69×	3.66×	3.8×	3.54×	3.45×	3.45×
Dividend yield	2.7%	3.1%	3.3%	2.8%	2.5%	2.8%	2.4%	2.6%
Payout ratio	58.3%	61.1%	62.6%	59.6%	59.5%	58.0%	55.7%	53.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.1%	8.7%	9.0%	9.2%	9.2%	9.3%	9.4%	9.6%
Return on invested capital	4.2%	3.6%	3.6%	4.1%	4.2%	4.1%	4.2%	4.5%
Return on assets	3.2%	3.1%	3.1%	3.4%	3.4%	3.3%	3.5%	3.6%
Free cash flow yield	-8.4%	-7.2%	-6.9%	-1.5%	1.1%	1.6%	1.6%	4.6%
Earnings yield	4.7%	5.0%	5.2%	4.7%	4.3%	4.9%	4.3%	4.8%
Enterprise value	$10.3B	$8.4B	$7.5B	$7.5B	$7.5B	$6.6B	$7B	$6.3B
Net debt / EBITDA	4.68×	4.04×	4.13×	3.6×	3.25×	3.26×	3.13×	3.13×
Cash conversion cycle (days)	14	36	18	7	30	35	44	39