Latest Ratios: P/E Ratio 25.7x · EV/EBITDA 18.1x · ROE 9.4%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.4B | $6.9B | $5.7B | $5.0B | $5.5B | $5.7B | $4.9B | $5.4B | $4.7B | $4.6B | $4.1B |
| Enterprise Value | $11.9B | $10.4B | $8.5B | $7.5B | $7.5B | $7.5B | $6.6B | $7.0B | $6.3B | $6.3B | $5.8B |
| P/E Ratio → | 25.70 | 21.45 | 19.87 | 19.13 | 21.11 | 23.36 | 20.48 | 23.17 | 20.73 | 21.70 | 20.44 |
| P/S Ratio | 4.63 | 3.83 | 3.15 | 2.83 | 3.33 | 3.94 | 3.60 | 4.01 | 3.43 | 3.41 | 3.22 |
| P/B Ratio | 2.32 | 1.94 | 1.72 | 1.71 | 1.94 | 2.15 | 1.89 | 2.18 | 1.98 | 2.04 | 1.88 |
| P/FCF | — | — | — | — | — | 90.71 | 62.91 | 61.39 | 21.99 | 30.20 | 79.94 |
| P/OCF | 13.96 | 11.53 | 9.67 | 18.71 | 15.57 | 15.80 | 12.51 | 14.72 | 9.56 | 10.52 | 11.67 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.73 | 4.63 | 4.24 | 4.55 | 5.16 | 4.87 | 5.21 | 4.57 | 4.65 | 4.57 |
| EV / EBITDA | 18.09 | 15.85 | 15.21 | 14.60 | 14.95 | 14.78 | 13.56 | 14.86 | 13.45 | 13.04 | 13.38 |
| EV / EBIT | 29.88 | 21.70 | 19.18 | 18.47 | 19.35 | 20.36 | 18.59 | 20.38 | 18.94 | 18.16 | 18.21 |
| EV / FCF | — | — | — | — | — | 118.93 | 85.26 | 79.81 | 29.32 | 41.15 | 113.55 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.1% | 22.1% | 18.2% | 17.9% | 20.1% | 22.8% | 23.1% | 22.4% | 21.8% | 26.3% | 25.0% |
| Operating Margin | 21.9% | 21.9% | 17.9% | 17.7% | 19.9% | 22.6% | 22.9% | 22.2% | 21.7% | 23.4% | 22.5% |
| Net Profit Margin | 17.8% | 17.8% | 15.8% | 14.8% | 15.8% | 16.8% | 17.6% | 17.3% | 16.5% | 15.7% | 15.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.4% | 9.4% | 9.2% | 9.1% | 9.4% | 9.4% | 9.4% | 9.6% | 9.8% | 9.6% | 9.4% |
| ROA | 3.3% | 3.3% | 3.3% | 3.3% | 3.5% | 3.4% | 3.5% | 3.6% | 3.6% | 3.4% | 3.2% |
| ROIC | 4.6% | 4.6% | 4.3% | 4.6% | 5.3% | 5.6% | 5.5% | 5.6% | 5.7% | 6.1% | 5.6% |
| ROCE | 4.3% | 4.3% | 4.0% | 4.2% | 4.7% | 4.8% | 4.7% | 4.8% | 5.0% | 5.3% | 4.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.02 | 1.02 | 0.92 | 0.97 | 0.78 | 0.75 | 0.78 | 0.74 | 0.77 | 0.77 | 0.82 |
| Debt / EBITDA | 5.59 | 5.59 | 5.53 | 5.50 | 4.38 | 3.93 | 4.12 | 3.89 | 3.94 | 3.63 | 4.10 |
| Net Debt / Equity | — | 0.96 | 0.81 | 0.86 | 0.72 | 0.67 | 0.67 | 0.66 | 0.66 | 0.74 | 0.79 |
| Net Debt / EBITDA | 5.26 | 5.26 | 4.87 | 4.87 | 4.03 | 3.51 | 3.55 | 3.43 | 3.36 | 3.47 | 3.96 |
| Debt / FCF | — | — | — | — | — | 28.22 | 22.35 | 18.42 | 7.33 | 10.95 | 33.61 |
| Interest Coverage | 2.85 | 2.85 | 3.24 | 3.48 | 4.33 | 4.26 | 4.05 | 3.98 | 3.85 | 4.13 | 3.86 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.93 | 0.93 | 1.41 | 1.58 | 1.26 | 1.83 | 2.23 | 1.51 | 2.31 | 2.21 | 1.76 |
| Quick Ratio | 0.93 | 0.93 | 1.06 | 1.33 | 1.07 | 1.54 | 1.90 | 1.20 | 1.91 | 1.65 | 1.32 |
| Cash Ratio | 0.24 | 0.24 | 0.53 | 0.52 | 0.32 | 0.66 | 1.04 | 0.58 | 1.03 | 0.38 | 0.25 |
| Asset Turnover | — | 0.17 | 0.20 | 0.21 | 0.22 | 0.20 | 0.19 | 0.20 | 0.21 | 0.22 | 0.20 |
| Inventory Turnover | — | — | 6.11 | 9.03 | 12.25 | 11.78 | 10.75 | 9.16 | 10.40 | 8.85 | 8.49 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.3% | 2.7% | 3.1% | 3.3% | 2.8% | 2.5% | 2.8% | 2.4% | 2.6% | 2.5% | 2.6% |
| Payout Ratio | 58.3% | 58.3% | 61.1% | 62.6% | 59.6% | 59.5% | 58.0% | 55.7% | 53.5% | 53.3% | 52.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.9% | 4.7% | 5.0% | 5.2% | 4.7% | 4.3% | 4.9% | 4.3% | 4.8% | 4.6% | 4.9% |
| FCF Yield | — | — | — | — | — | 1.1% | 1.6% | 1.6% | 4.5% | 3.3% | 1.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% | 0.1% |
| Total Shareholder Yield | 2.3% | 2.8% | 3.1% | 3.3% | 2.8% | 2.5% | 2.8% | 2.5% | 2.7% | 2.5% | 2.7% |
| Shares Outstanding | — | $55M | $53M | $51M | $51M | $51M | $51M | $51M | $51M | $50M | $50M |
Hydrological and regulatory dependency
According to current market data, IDACORP trades at a forward P/E of 23.94, which represents a notable premium to regional peers like Avista and Portland General, suggesting that investors are pricing in significant long-term load growth from the Boise metropolitan area rather than traditional utility-like yield.
The elevated valuation multiple appears to be anchored by the company's unique position as a beneficiary of regional semiconductor and data center expansion. Investors should monitor whether this growth premium remains sustainable if the pace of industrial load additions moderates or if regulatory outcomes fail to support the necessary capital investment returns.
Based on reported figures, IDACORP's quarterly ROE has fluctuated between 1.1% and 3.6% over the last ten quarters, a variance that likely reflects the impact of hydrological cycles on power costs rather than a fundamental failure of the regulatory allowed return mechanism.
The wide range in earned ROE suggests that the utility's profitability is highly sensitive to seasonal water availability, which dictates the cost of generation. Analysts should interpret these figures as a reflection of temporary margin compression that is typically mitigated by the Power Cost Adjustment mechanism over longer regulatory cycles.
As reported in financial statements, IDACORP has maintained a debt-to-capital ratio consistently near 0.50, demonstrating a disciplined approach to balance sheet management despite the intensive capital expenditure requirements associated with the Boardman-to-Hemingway transmission project and ongoing grid modernization efforts across its service territory.
This capital structure appears to provide the necessary flexibility to fund large-scale projects without compromising credit quality. Maintaining this leverage profile is critical for the company to preserve its ability to access capital markets at favorable rates as it continues its multi-year infrastructure investment cycle.
The most commonly misapplied metric for IDACORP is the standard P/E ratio, which fails to account for the significant non-cash earnings generated by AFUDC during the company's current intensive capital deployment phase, thereby obscuring the true cash-generative capacity of the underlying regulated utility operations.
Investors should instead focus on cash-based metrics or adjusted earnings that strip out non-cash construction credits to better assess the utility's core profitability. Relying solely on headline P/E may lead to an overestimation of earnings quality during periods of heavy infrastructure investment, as these non-cash items do not represent immediate cash flow.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying IDA stock.
IDACORP, Inc.'s current P/E ratio is 25.7x. The historical average is 17.2x. This places it at the 100th percentile of its historical range.
IDACORP, Inc.'s current EV/EBITDA is 18.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.1x.
IDACORP, Inc.'s return on equity (ROE) is 9.4%. The historical average is 9.5%.
Based on historical data, IDACORP, Inc. is trading at a P/E of 25.7x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
IDACORP, Inc.'s current dividend yield is 2.27% with a payout ratio of 58.3%.
IDACORP, Inc. has 22.1% gross margin and 21.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
IDACORP, Inc.'s Debt/EBITDA ratio is 5.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.