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IdaCorp
(NYSE:IDA)
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Rating:66Neutral
Price Target:
$155.00
â–²(14.16% Upside)
Action:Reiterated
Date:10/30/26
IDA scores moderately positive overall: strong technical momentum and a favorable, guidance-raising earnings call are key positives. The main constraint is financial quality driven by deeply negative and worsening free cash flow alongside rising leverage, which increases funding risk during the heavy capex build. Valuation is reasonable but not clearly cheap, and the dividend yield is supportive but modest.
Positive Factors
Regulated utility model
IDACORP operates through a regulated electric utility, giving its core business a relatively durable revenue framework. Approved rates can recover prudent costs and provide a return on invested capital, while transmission and distribution assets create an ongoing rate-base foundation.
Negative Factors
Negative free cash flow and rising leverage
Cash generation is not keeping pace with investment needs, with free cash flow deeply negative and worsening in the latest period. Rising debt and leverage increase reliance on external financing, potentially limiting flexibility if capital requirements remain elevated or operating conditions weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated utility model
IDACORP operates through a regulated electric utility, giving its core business a relatively durable revenue framework. Approved rates can recover prudent costs and provide a return on invested capital, while transmission and distribution assets create an ongoing rate-base foundation.
Read all positive factors
IdaCorp (IDA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.31B
Dividend Yield2.45%
Average Volume (3M)631.76K
Price to Earnings (P/E)21.6
Beta (1Y)0.09
Revenue Growth-1.11%
EPS Growth8.18%
CountryUS
Employees2,174
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)6.66
Shares Outstanding57,842,045
10 Day Avg. Volume558,876
30 Day Avg. Volume631,761
Financial Highlights & Ratios
PEG Ratio2.54
Price to Book (P/B)1.92
Price to Sales (P/S)3.79
P/FCF Ratio-11.89
Enterprise Value/Market Cap1.39
Enterprise Value/Revenue6.13
Enterprise Value/Gross Profit26.57
Enterprise Value/Ebitda13.21
Forecast
1Y Price Target
$149.20Price Target Upside9.88% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)6.39
Revenue Forecast (FY)$2.00B
IdaCorp Business Overview & Revenue Model
Company Description
IDACORP, Inc. operates as a U.S.-based enterprise deeply involved in the comprehensive electric power sector, handling everything from generation, transmission, and distribution to the purchase and retail sale of electricity. Its commercial and in...
How the Company Makes Money
IDACORP makes money primarily through the regulated sale and delivery of electricity by its subsidiary Idaho Power Company. (1) Retail electric service revenue: The largest source of revenue is selling electricity to residential, commercial, indus...
IdaCorp Earnings Call Summary
Earnings Call Date:Oct 29, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Feb 18, 2027
Earnings Call Sentiment Positive
The call was strongly positive overall. IDACORP reported higher earnings, raised full-year EPS guidance, continued customer and industrial revenue growth, a substantial load-growth pipeline, and progress across major transmission and generation projects. The main challenges were elevated capital requirements, higher operating and depreciation expenses, supply-chain constraints, potential ADITC usage and a likely 2027 rate case, but management described these issues as actively managed within its growth and financing plans.Positive Updates
Higher Quarterly and Year-to-Date Earnings
Third-quarter diluted EPS was $2.73, compared with $2.26 in the prior-year quarter. First-nine-month diluted EPS was $5.76, compared with $5.13 in 2025. Management said the results showcase strong performance so far in 2026.
Negative Updates
Higher Operating and Depreciation Expenses
Third-quarter O&M expense was higher, primarily due to amortization of previously deferred Jim Bridger and Valmy plant costs and the wildfire mitigation program. Depreciation and amortization expense increased by a little over $7 million for the quarter as more plant entered service.
Read all updates
Q3-2026 Updates
Positive
Negative
Higher Quarterly and Year-to-Date Earnings
Third-quarter diluted EPS was $2.73, compared with $2.26 in the prior-year quarter. First-nine-month diluted EPS was $5.76, compared with $5.13 in 2025. Management said the results showcase strong performance so far in 2026.
Read all positive updates
Company Guidance
IDACORP now expects 2026 diluted earnings per share to be in the range of $6.40 to $6.50, with Idaho Power using less than $10 million of additional investment tax credit amortization in 2026, assuming normal weather for the remainder of 2026; full year O&M expense is expected to be in the range of $535 million to $545 million, the company still anticipates spending between $1.3 billion and $1.5 billion on CapEx in 2026 and is trending to the high end of that range, and hydropower generation is expected to be within the range of 5.5 million to 6 million megawatt hours for the year. The preliminary load growth CAGR for the 2027 IRP is 8.9% for retail sales for the next 5 years, with load forecast of about 19 thousand gigawatt-hours in 2027 growing to about 29 thousand gigawatt-hours by 2032; B2H remains on schedule for an in-service date in late 2027, Swift North is expected to be completed in 2028, and the Oregon sale is expected to close in the spring of 2027, pending successful regulatory outcomes.IdaCorp Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
63
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.89B | 1.81B | 1.83B | 1.77B | 1.64B | 1.46B |
| Gross Profit | 435.20M | 401.43M | 331.85M | 316.84M | 330.11M | 332.24M |
| EBITDA | 875.36M | 737.01M | 668.96M | 605.55M | 560.33M | 548.93M |
| Net Income | 374.38M | 323.47M | 289.17M | 261.19M | 258.98M | 245.55M |
Balance Sheet | ||||||
| Total Assets | 11.37B | 10.23B | 9.24B | 8.48B | 7.54B | 7.21B |
| Cash, Cash Equivalents and Short-Term Investments | 187.83M | 215.72M | 368.87M | 327.43M | 177.58M | 215.24M |
| Total Debt | 4.08B | 3.66B | 3.07B | 2.83B | 2.19B | 2.00B |
| Total Liabilities | 7.29B | 6.65B | 5.90B | 5.56B | 4.73B | 4.54B |
| Stockholders Equity | 4.08B | 3.57B | 3.33B | 2.91B | 2.81B | 2.67B |
Cash Flow | ||||||
| Free Cash Flow | -1.15B | -577.49M | -414.86M | -344.11M | -81.30M | 63.27M |
| Operating Cash Flow | 383.61M | 601.84M | 594.42M | 267.03M | 351.29M | 363.26M |
| Investing Cash Flow | -1.28B | -1.03B | -917.66M | -589.95M | -424.27M | -273.65M |
| Financing Cash Flow | 693.50M | 273.92M | 364.68M | 472.77M | 35.32M | -149.48M |
IdaCorp Technical Analysis
Positive
135.78
Price Trends
135.34
Positive
140.27
Positive
139.79
Positive
Market Momentum
2.00
Negative
67.63
Neutral
77.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IDA, the sentiment is Positive. The current price of 135.78 is below the 20-day moving average (MA) of 137.20, above the 50-day MA of 135.34, and below the 200-day MA of 139.79, indicating a bullish trend. The MACD of 2.00 indicates Negative momentum. The RSI at 67.63 is Neutral, neither overbought nor oversold. The STOCH value of 77.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IDA.
IdaCorp Risk Analysis
IdaCorp disclosed 32 risk factors in its most recent earnings report. IdaCorp reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
IdaCorp Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $10.21B | 18.49 | 11.14% | 3.45% | 2.38% | 6.90% | |
66 Neutral | $8.31B | 21.56 | 9.94% | 2.45% | -1.11% | 8.18% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
59 Neutral | $4.87B | 28.39 | 5.92% | 3.37% | 10.69% | -24.15% | |
56 Neutral | $12.92B | 20.05 | 9.04% | 3.41% | 5.69% | 6.83% | |
56 Neutral | $5.20B | 18.72 | 6.54% | 4.87% | 2.51% | -15.35% | |
52 Neutral | $6.46B | 32.52 | 5.67% | 2.88% | 9.97% | -7.29% |
* Utilities Sector Average
IDA
IdaCorp
145.38
19.61
15.59%
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Northwestern
79.81
22.40
39.02%
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106.28
21.06
24.71%
TXNM
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3.20
5.80%
POR
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44.42
0.70
1.61%
IdaCorp Corporate Events
Business Operations and StrategyFinancial Disclosures
IdaCorp Boosts 2026 Earnings Outlook on Strong Quarter
Positive
Oct 29, 2026
On October 29, 2026, IDACORP reported third quarter 2026 net income attributable to the company of $160.2 million, or $2.73 per diluted share, up from $124.4 million, or $2.26 per diluted share, a year earlier, with nine‑month earnings risin...
Business Operations and StrategyFinancial Disclosures
IDACORP Boosts Earnings Guidance After Strong Second Quarter
Positive
Jul 30, 2026
On July 30, 2026, IDACORP reported second quarter 2026 net income of $102.6 million, or $1.79 per diluted share, up from $95.8 million, or $1.76 per diluted share, in the prior-year period, driven by continued customer growth, rate changes and hig...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.