Alliant Energy Corporation (LNT) 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

-105.3%

-$3.86

vs $72.88 price

Levered DCF

-$66.69

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.14

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	20.64×	21.99×	18.45×	20.22×	23.37×	20.86×	23.38×	19.29×
P/B	2.28×	2.17×	1.92×	2.21×	2.57×	2.25×	2.51×	2.15×
P/S	3.83×	3.81×	3.22×	3.29×	4.19×	3.75×	3.58×	2.79×
EV / EBITDA	14.11×	14.19×	12.62×	13.36×	15.07×	13.82×	13.02×	11.93×
Gross margin	40.1%	44.7%	43.1%	40.6%	42.4%	42.8%	39.9%	36.9%
Operating margin	23.5%	22.3%	23.4%	22.1%	21.7%	21.7%	21.3%	19.6%
Net margin	18.6%	17.3%	17.5%	16.3%	18.4%	18.3%	15.5%	14.8%
Current ratio	0.8×	0.44×	0.55×	0.53×	0.52×	0.68×	0.43×	0.48×
Debt / equity	1.68×	1.49×	1.4×	1.39×	1.32×	1.26×	1.25×	1.3×
Interest coverage	2×	1.97×	2.39×	2.86×	2.8×	2.54×	2.59×	2.55×
Dividend yield	3.1%	3.2%	3.5%	3.1%	2.6%	2.9%	2.6%	3.2%
Payout ratio	64.3%	71.3%	64.9%	62.4%	59.8%	60.4%	59.6%	59.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.0%	9.9%	10.4%	10.9%	11.3%	11.0%	10.9%	11.4%
Return on invested capital	4.1%	4.1%	4.6%	4.8%	4.5%	4.4%	4.4%	4.4%
Return on assets	3.1%	3.0%	3.3%	3.4%	3.6%	3.5%	3.4%	3.4%
Free cash flow yield	-7.9%	-7.1%	-7.6%	-7.2%	-3.8%	-6.8%	-7.5%	-11.2%
Earnings yield	4.8%	4.5%	5.4%	5.0%	4.4%	4.9%	4.3%	5.3%
Enterprise value	$28.5B	$25.5B	$22.4B	$22.6B	$23.2B	$19.9B	$19.6B	$15.8B
Net debt / EBITDA	5.84×	5.75×	5.32×	5.15×	5.09×	4.94×	4.33×	4.47×
Cash conversion cycle (days)	10	-15	-19	-34	-10	-6	-11	-30