Alliant Energy Corporation

LNT · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$16,711	$15,175	$13,091	$13,859	$15,390	$12,901	$13,700	$10,578	$10,668	$9,486	$15,635	$7,359	$5,717	$4,864	$4,884	$4,062	$3,337	$3,215	$4,570	$4,414	$3,266	$3,251	$2,524	$1,500	$2,445	$2,517	$2,154	$2,481	$1,023	$865	$942	$838	$974	$915	$875	$654	$647	$611	$575	$662	$533
Enterprise value	$28,501	$25,500	$22,538	$22,557	$23,234	$20,213	$20,411	$16,701	$16,121	$14,242	$19,825	$11,411	$9,325	$8,200	$7,682	$6,657	$5,836	$4,823	$5,484	$5,850	$5,434	$5,561	$4,713	$4,502	$5,062	$4,871	$4,101	$4,255	$2,732	$1,444	$1,531	$1,403	–	–	–	–	–	–	–	–	–
P/E (TTM) at period end	20.63×	21.99×	18.62×	20.20×	23.35×	21.01×	24.60×	20.66×	23.33×	25.53×	41.34×	19.21×	15.96×	15.21×	16.09×	14.12×	30.06×	11.16×	10.75×	13.98×	–	22.34×	13.76×	14.03×	14.19×	6.31×	10.96×	25.66×	7.08×	5.55×	16.14×	12.85×	15.58×	16.06×	13.48×	10.99×	12.57×	10.55×	9.79×	10.95×	8.79×
P/S (TTM) at period end	3.83×	3.81×	3.25×	3.30×	4.19×	3.78×	3.76×	2.99×	3.15×	2.86×	4.81×	2.20×	1.74×	1.57×	1.52×	1.25×	0.97×	0.88×	1.33×	1.31×	1.00×	1.16×	0.81×	0.58×	0.88×	1.05×	0.98×	1.16×	0.44×	0.93×	1.17×	1.03×	1.26×	1.40×	1.35×	1.06×	1.07×	1.02×	1.05×	1.16×	0.91×
P/B at period end	2.28×	2.17×	1.93×	2.21×	2.57×	2.27×	2.63×	2.31×	2.55×	2.34×	4.20×	2.14×	1.74×	1.55×	1.62×	1.40×	1.20×	1.07×	1.70×	1.66×	1.34×	1.27×	1.06×	0.82×	1.27×	1.24×	0.95×	1.44×	0.59×	1.30×	1.43×	1.27×	–	–	–	–	–	–	–	–	–
EV / EBITDA (TTM)	15.23×	15.38×	13.92×	14.11×	16.00×	14.92×	15.18×	13.91×	14.23×	14.75×	20.26×	12.25×	10.31×	9.62×	9.21×	7.86×	8.71×	6.64×	5.11×	8.26×	10.41×	7.03×	6.13×	6.84×	7.32×	6.93×	5.87×	7.00×	6.47×	–	–	–	–	–	–	–	–	–	–	–	–
EV / Sales (TTM)	6.53×	6.41×	5.60×	5.36×	6.33×	5.92×	5.60×	4.73×	4.77×	4.29×	6.09×	3.41×	2.85×	2.65×	2.38×	2.04×	1.70×	1.31×	1.60×	1.74×	1.66×	1.98×	1.51×	1.73×	1.82×	2.03×	1.87×	2.00×	1.19×	1.55×	1.90×	1.72×	–	–	–	–	–	–	–	–	–
Returns
Return on equity	11.0%	9.9%	10.4%	10.9%	11.0%	10.8%	10.7%	11.2%	10.9%	9.1%	10.2%	11.1%	10.9%	10.2%	10.1%	9.9%	4.0%	9.6%	15.9%	11.9%	(0.3%)	5.7%	7.7%	5.8%	9.0%	19.6%	8.7%	5.6%	8.3%	23.3%	8.9%	9.9%	–	–	–	–	–	–	–	–	–
Return on invested capital	5.4%	5.1%	5.8%	6.0%	5.7%	5.7%	5.8%	5.9%	6.1%	5.6%	6.2%	6.5%	6.6%	6.2%	7.2%	6.7%	7.2%	7.5%	13.3%	6.2%	3.1%	6.1%	5.8%	4.5%	5.3%	4.5%	5.5%	5.1%	2.4%	11.3%	8.0%	6.9%	–	–	–	–	–	–	–	–	–
Dividend yield	3.1%	3.2%	3.5%	3.1%	2.6%	2.9%	2.5%	2.9%	2.7%	2.8%	1.6%	3.1%	3.6%	4.1%	3.9%	4.3%	5.0%	4.8%	3.1%	3.0%	3.7%	3.5%	4.0%	12.1%	6.5%	6.3%	7.3%	5.7%	14.2%	7.0%	6.3%	5.9%	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	0.80×	0.44×	0.55×	0.53×	0.52×	0.68×	0.43×	0.48×	0.42×	0.75×	0.61×	0.86×	0.71×	0.97×	1.02×	1.26×	1.29×	1.39×	1.57×	1.42×	1.13×	1.59×	1.15×	1.48×	1.45×	0.62×	0.52×	0.60×	0.63×	0.42×	0.55×	0.61×	–	–	–	–	–	–	–	–	–
Debt / equity	1.64×	1.41×	1.33×	1.29×	1.23×	1.19×	1.19×	1.20×	1.16×	1.06×	1.03×	1.10×	1.02×	1.00×	0.90×	0.93×	0.90×	0.66×	0.62×	0.64×	0.97×	0.98×	1.00×	1.65×	1.40×	1.23×	0.90×	1.04×	0.99×	0.88×	0.91×	0.87×	–	–	–	–	–	–	–	–	–
Effective tax rate	(22.5%)	(19.8%)	0.6%	3.1%	(12.3%)	(10.1%)	10.8%	8.4%	12.5%	13.4%	15.3%	10.1%	12.4%	20.8%	16.9%	32.3%	(7.8%)	31.8%	37.6%	37.5%	(1511.4%)	27.1%	32.7%	33.2%	28.8%	40.6%	38.0%	37.5%	36.1%	(36.3%)	33.5%	35.2%	–	–	–	–	–	–	–	–	–
Share count
Diluted shares outstanding	258	257	253	251	251	249	239	234	230	227	225	222	222	222	221	221	221	221	225	234	234	227	203	181	161	159	157	154	62	62	62	61	59	54	53	53	53	53	53	53	53

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$4,429	$4,362	$3,981	$4,027	$4,205	$3,669	$3,416	$3,648	$3,534	$3,382	$3,320	$3,254	$3,350	$3,277	$3,094	$3,221	$3,262	$3,427	$3,669	$3,438	$3,359	$3,280	$2,805	$3,128	$2,609	$2,777	$2,405	$2,198	$2,131	$2,301	$933	$807	$816	$773	$652	$649	$618	$605	$601	$549	$569	$589
Cost of revenue	($631)	($625)	($613)	($583)	($573)	($537)	($449)	($481)	($496)	($481)	($722)	($704)	($775)	($695)	($558)	($619)	($1,682)	($1,746)	($1,831)	($1,203)	($1,689)	($1,514)	($1,144)	($1,127)	($666)	($714)	($583)	($698)	($720)	($342)	($300)	($244)	($250)	–	–	–	–	–	–	–	–	–
Gross profit	$3,798	$3,737	$3,368	$3,444	$3,632	$3,132	$2,967	$3,167	$3,038	$2,901	$2,598	$2,549	$2,575	$2,582	$2,536	$2,602	$1,734	$1,682	$1,851	$2,235	$1,670	$1,766	$1,660	$2,001	$1,943	$2,063	$1,822	$1,500	$1,411	$1,959	$632	$563	$566	–	–	–	–	–	–	–	–	–
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	–	–	–	($26)	($27)	–	($24)	–	($17)	($30)	–	–	–	–	$63	–	–	–	–	–	–	–	–	–	–	–	–	–	–	($719)	($1,300)	–	–	($773)	($652)	($649)	($618)	($605)	($601)	($549)	($569)	($589)
Total operating expenses	($2,818)	($2,712)	($2,482)	($2,501)	($2,704)	($2,337)	($2,227)	($2,389)	($2,344)	($2,230)	($2,044)	($1,972)	($2,031)	($2,048)	($2,016)	($2,089)	($1,174)	($1,285)	($1,364)	($1,472)	($1,268)	($1,624)	($1,252)	($1,608)	($1,618)	($1,727)	($1,486)	($1,123)	($1,128)	($1,831)	($491)	($413)	($436)	–	–	–	–	–	–	–	–	–
Total costs and expenses	($3,449)	($3,337)	($3,095)	($3,084)	($3,277)	($2,874)	($2,676)	($2,870)	($2,840)	($2,711)	($2,766)	($2,677)	($2,807)	($2,743)	($2,575)	($2,708)	($2,702)	($3,031)	($3,182)	($2,674)	($2,957)	($3,138)	($2,396)	($2,735)	($2,285)	($2,441)	($2,069)	($1,821)	($1,847)	($2,172)	($791)	($658)	($686)	–	–	–	–	–	–	–	–	–
Operating income	$980	$1,025	$886	$943	$928	$795	$740	$778	$694	$671	$554	$577	$544	$534	$520	$513	$560	$396	$487	$763	$403	$142	$408	$393	$324	$336	$336	$377	$283	$128	$141	$150	$130	$773	$652	$649	$618	$605	$601	$549	$569	$589
Earnings
EBITDA	$1,849	$1,871	$1,658	$1,619	$1,599	$1,452	$1,355	$1,345	$1,201	$1,133	$966	$978	$932	$905	$852	$834	$847	$670	$727	$1,073	$708	$522	$791	$769	$658	$691	$703	$699	$608	$422	–	–	–	–	–	–	–	–	–	–	–	–
Interest income	–	–	$21	$26	$16	–	–	–	–	–	–	$1	$2	$0	$4	$4	$4	$5	$17	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($553)	($512)	($449)	($394)	($325)	($277)	($275)	($273)	($247)	($216)	($196)	($187)	($181)	($173)	($157)	($158)	($163)	($155)	($126)	($1)	($145)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$646	$661	$576	$707	$708	$600	$567	$636	$570	$533	$443	$461	$440	$436	$430	$411	$458	$120	$439	$680	$541	$4	$310	$232	$141	$180	$557	$317	$155	$226	$115	$108	$102	–	–	–	–	–	–	–	–	–
Income tax expense	$171	$149	$114	($4)	($22)	$74	$57	($69)	($48)	($67)	($59)	($70)	($44)	($54)	($89)	($69)	($148)	$9	($140)	($256)	($203)	$53	($84)	($76)	($47)	($52)	($226)	($120)	($58)	($82)	$42	($36)	($36)	$62	$57	$65	$60	$52	$58	$59	$60	$61
Net income	$817	$810	$690	$703	$686	$674	$624	$567	$522	$468	$382	$388	$393	$376	$336	$322	$306	$130	$307	$425	$316	($8)	$146	$184	$107	$172	$399	$197	$97	$145	$156	$58	$65	$62	$57	$65	$60	$52	$58	$59	$60	$61
Per share
Diluted EPS (GAAP)	$3.16	$3.14	$2.69	$2.78	$2.73	$2.63	$2.47	$2.33	$2.19	$1.99	$1.64	$1.68	$1.73	$1.61	$1.45	$1.37	$1.30	$0.505	$1.30	$1.89	$1.35	($0.035)	$0.64	$0.91	$0.59	$1.07	$2.52	$1.25	$0.63	$1.00	$1.03	$0.95	$1.07	$1.06	$1.06	$1.22	$1.12	$0.97	$1.09	$1.04	$1.07	$1.07
Basic EPS (GAAP)	$3.17	$3.15	$2.69	$2.78	$2.73	$2.63	$2.47	$2.34	$2.19	$1.99	$1.64	$1.68	$1.73	$1.61	$1.45	$1.37	$1.30	$0.505	$1.30	$1.90	$1.35	($0.035)	$0.64	$0.91	$0.59	$1.07	$2.53	$1.25	$0.63	$1.00	$1.03	$0.95	$1.07	$1.06	$1.06	$1.22	$1.12	$0.97	$1.09	$1.04	$1.07	$1.07
Basic shares outstanding	258	257	256	253	251	250	248	238	234	230	227	225	222	222	222	221	221	221	220	225	234	233	227	203	181	161	158	157	154	62	62	62	61	59	54	53	53	53	53	53	53	53
Margins
Gross margin	85.8%	85.7%	84.6%	85.5%	86.4%	85.4%	86.9%	86.8%	86.0%	85.8%	78.2%	78.4%	76.9%	78.8%	82.0%	80.8%	53.1%	49.1%	50.5%	65.0%	49.7%	53.8%	59.2%	64.0%	74.5%	74.3%	75.7%	68.2%	66.2%	85.2%	67.8%	69.7%	69.4%	–	–	–	–	–	–	–	–	–
Operating margin	22.1%	23.5%	22.3%	23.4%	22.1%	21.7%	21.7%	21.3%	19.6%	19.8%	16.7%	17.7%	16.2%	16.3%	16.8%	15.9%	17.2%	11.6%	13.3%	22.2%	12.0%	4.3%	14.6%	12.6%	12.4%	12.1%	14.0%	17.1%	13.3%	5.6%	15.2%	18.5%	15.9%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Net margin	18.4%	18.6%	17.3%	17.5%	16.3%	18.4%	18.3%	15.5%	14.8%	13.8%	11.5%	11.9%	11.7%	11.5%	10.8%	10.0%	9.4%	3.8%	8.4%	12.4%	9.4%	(0.2%)	5.2%	5.9%	4.1%	6.2%	16.6%	8.9%	4.5%	6.3%	16.7%	7.2%	8.0%	8.1%	8.7%	10.0%	9.6%	8.5%	9.6%	10.7%	10.6%	10.3%

Analyst consensus

Buy23 analysts

Bearish · 0 · Hold · 11 · Bullish · 12

Earnings history

	EPS	Estimate
Q3 2024	$1.15	$1.10	Beat
Q4 2024	$0.70	$0.68	Beat
Q1 2025	$0.83	$0.69	Beat
Q2 2025	$0.68	$0.64	Beat
Q3 2025	$1.12	$1.18	Miss
Q4 2025	$0.60	$0.59	Beat
Q1 2026	$0.82	$0.79	Beat
Q2 2026	$0.65	$0.58	Beat

Peers

Company overview

IPO dateJan 5, 1988

CEOLisa Barton

Employees2,948

SectorUtilities

IndustryRegulated Electric

CountryUS

ExchangeNASDAQ Global Select

Websitewww.alliantenergy.com

Alliant Energy Corporation functions as a utility holding company, specializing in the provision of regulated electricity and natural gas services. Its operational structure is divided into three principal segments: Utility Electric Operations, Utility Gas Operations, and Utility Other. Through its primary subsidiary, Interstate Power and Light Company (IPL), the corporation generates and distributes electricity, and manages the distribution and transportation of natural gas to retail customers throughout Iowa. IPL also markets electricity to wholesale buyers across Minnesota, Illinois, and Iowa, and generates and supplies steam in Cedar Rapids, Iowa. Similarly, its other subsidiary, Wisconsin Power and Light Company (WPL), is responsible for electricity generation and distribution, alongside natural gas distribution and transport, for retail clients within Wisconsin. WPL additionally sells wholesale electricity in Wisconsin. As of December 31, 2021, IPL catered to approximately 500,000 retail electric customers and 225,000 natural gas customers, while WPL provided services to about 485,000 retail electric accounts and 200,000 natural gas accounts. The company's diverse retail customer base includes businesses in farming, agriculture, industrial manufacturing, chemical production, packaging, and food processing. In addition to its core utility functions, Alliant Energy owns and operates a short-line rail freight service, a multi-modal freight terminal (encompassing barge, rail, and truck operations) on the Mississippi River, and a rail-served warehouse, all located in Iowa. It further provides freight brokerage services. The company also maintains interests in a 347-megawatt (MW) natural gas-fueled electric generating unit situated near Sheboygan Falls, Wisconsin, and a 225 MW wind farm located in Oklahoma. Alliant Energy Corporation was established in 1981 and maintains its headquarters in Madison, Wisconsin.

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