A Business at a Glance
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ALLIANT ENERGY CORP
LNT
$19.3B
Mkt Cap
$74.94
+0.70%
ALLIANT ENERGY CORP (LNT) has a current P/E ratio of 23.9, compared to its historical median P/E of 17.8. The stock is currently considered Expensive based on its historical valuation range.
ALLIANT ENERGY CORP (LNT) has a 5-year average return on invested capital (ROIC) of 5.9%. This is below average and may indicate limited pricing power.
ALLIANT ENERGY CORP (LNT) has a market capitalization of $19.4B. It is classified as a large-cap stock.
Yes, ALLIANT ENERGY CORP (LNT) pays a dividend with a trailing twelve-month yield of 2.73%.
Based on historical P/E analysis, ALLIANT ENERGY CORP (LNT) appears expensive. The current P/E of 23.9 is 34% above its historical median of 17.8. The estimated fair value CAGR (P/E method) is 3.7%.
ALLIANT ENERGY CORP (LNT) operates in the Electric & Other Services Combined industry, within the Utilities sector.
ALLIANT ENERGY CORP (LNT) reported annual revenue of $4.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Alliant Energy operates regulated electric and gas utilities serving Iowa and Wisconsin through its subsidiaries IPL and WPL, earning revenue through rate-based utility operations where regulators establish rates, authorized returns on equity, and cost recovery mechanisms. The company's business model centers on capital-intensive infrastructure investment in generation, transmission, and distribution assets, with earnings driven by growing rate base and cost recovery from customers; the utility segments serve residential, commercial, and industrial customers including an expanding base of large load growth customers such as data centers. Alliant has executed multiple electric service agreements representing approximately 3.4 GW of contracted peak demand from hyperscale data center customers, with projects under active construction expected to ramp through 2030, requiring significant capital investment in natural gas generation, renewable energy, energy storage, and transmission infrastructure. The company's competitive position rests on its ability to rapidly align capital, infrastructure, and regulatory solutions to meet customer needs, supported by flexible resource planning processes in both states and established relationships with state regulators including the Iowa Utilities Commission and Public Service Commission of Wisconsin. Geographic footprint spans Iowa and Wisconsin, with regulatory oversight also from FERC and regional reliability organizations, and the company faces concentration risk from reliance on a small number of large data center customers whose load timing and magnitude may differ from contracted expectations.
【Data center-driven growth acceleration】 Management expects significant data center load to commence in the second half of 2026, with the majority of contracted load ramping through 2027 and beyond, driving higher earnings growth rates than historical levels during the execution period. The company is actively pursuing between 2–4 gigawatts of additional large load growth opportunities beyond the currently contracted 3.4 GW, with expectations to file additional individual customer rate applications and regulatory dockets throughout 2026 to support planned customer investments. Alliant anticipates decisions on multiple pending regulatory matters over the next 12 months, including advanced ratemaking principles for wind generation, customer-focused investment pre-approvals in Wisconsin, and individual customer rate filings for data center projects, which are critical to cost recovery and maintaining authorized returns. The company expects to continue delivering compound annual earnings growth of 7%+ across 2027–2029 based on current capital expenditure plans and data center load timing, while maintaining a balanced financing approach with approximately $1 billion of remaining common equity to be raised through 2029 to support the expanded capital program.
| Metric | Target | Period |
|---|---|---|
| Earnings per share | $3.36–$3.46 | FY2026 |
| Compound annual earnings growth rate | 7%+ | 2027–2029 |
| Annual common stock dividend per share | $2.14 | FY2026 |
| Four-year capital expenditure plan | $13.4 billion | 2025–2029 |
| Common equity needs | approximately $2.4 billion | Four-year period through 2029 |
Earnings per share (FY2026): “we are initiating 2026 earnings guidance of $3.36-$3.46 per share, which represents a 6.6% increase over our 2025 midpoint”
Compound annual earnings growth rate (2027–2029): “We expect our compound annual growth rate across 2027 - 2029 to be 7% +”
Annual common stock dividend per share (FY2026): “Our 2026 annual common stock dividend target is $2.14 per share, a 5.4% increase from the 2025 target of $2.03 per share”
Four-year capital expenditure plan (2025–2029): “We are increasing our four-year capital expenditure plan by 17% to $13.4 billion”
Common equity needs (Four-year period through 2029): “Of the approximately $2.4 billion of expected common equity needs over the four-year period, we have already raised approximately $1 billion through forward equity agreements”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.4B | 4.4B | 4.0B | 4.0B | 4.2B | 3.7B |
| Net Income | 821M | 810M | 690M | 703M | 686M | 659M |
| EPS | $3.19 | $3.14 | $2.69 | $2.78 | $2.73 | $2.63 |
| Free Cash Flow | 1.3B | -1.1B | -885M | -864M | -998M | -587M |
| ROIC | 6.8% | 5.7% | 5.3% | 6.0% | 6.2% | 6.0% |
| Gross Margin | - | 46.3% | 45.1% | 44.1% | 40.5% | 41.8% |
| Debt/Equity | 1.54 | 1.65 | 1.49 | 1.41 | 1.39 | 1.32 |
| Dividends/Share | $2.04 | $2.03 | $1.92 | $1.81 | $1.71 | $1.61 |
| Operating Income | 1.0B | 1.0B | 886M | 943M | 928M | 795M |
| Operating Margin | 23.0% | 23.5% | 22.3% | 23.4% | 22.1% | 21.7% |
| ROE | 11.1% | 11.3% | 10.0% | 10.8% | 11.2% | 11.3% |
| Shares Outstanding | 258M | 258M | 257M | 253M | 251M | 251M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 3.4B | 3.3B | 3.3B | 3.4B | 3.5B | 3.6B | 3.4B | 3.7B | 4.2B | 4.0B | 4.0B | 4.4B | 4.4B |
| Gross Margin | 9.8% | 9.2% | 10.0% | 11.1% | 9.2% | 40.5% | 42.7% | 41.8% | 40.5% | 44.1% | 45.1% | 46.3% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | 2.2B | 2.3B | 2.4B | 2.2B | 2.3B | 2.7B | 2.5B | 2.5B | 2.7B | 2.7B |
| EBIT | 544M | 577M | 554M | 671M | 694M | 778M | 740M | 795M | 928M | 943M | 886M | 1.0B | 1.0B |
| Op. Margin | 16.2% | 17.7% | 16.7% | 19.8% | 19.6% | 21.3% | 21.7% | 21.7% | 22.1% | 23.4% | 22.3% | 23.5% | 23.0% |
| Net Income | 383M | 378M | 372M | 457M | 512M | 557M | 614M | 659M | 686M | 703M | 690M | 810M | 821M |
| Net Margin | 11.4% | 11.6% | 11.2% | 13.5% | 14.5% | 15.3% | 18.0% | 18.0% | 16.3% | 17.5% | 17.3% | 18.6% | 18.6% |
| Non-Recurring | 0 | 8.0M | 86M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 60M | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 6.9% | 6.5% | 5.9% | 6.6% | 6.5% | 6.4% | 6.0% | 6.0% | 6.2% | 6.0% | 5.3% | 5.7% | 6.8% |
| ROE | 11.4% | 10.6% | 9.5% | 11.1% | 11.7% | 11.4% | 11.3% | 11.3% | 11.2% | 10.8% | 10.0% | 11.3% | 11.1% |
| ROA | 3.3% | 3.1% | 2.9% | 3.3% | 3.5% | 3.5% | 3.6% | 3.6% | 3.5% | 3.4% | 3.1% | 3.4% | 3.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 892M | 871M | 393M | 522M | 528M | 660M | 501M | 582M | 486M | 867M | 1.2B | 1.2B | 1.3B |
| Free Cash Flow | -11M | -163M | -804M | -945M | -1.1B | -980M | -865M | -587M | -998M | -864M | -885M | -1.1B | 1.3B |
| Owner Earnings | 488M | 459M | -37M | 45M | 4.0M | 67M | -130M | -89M | -198M | 179M | 383M | 301M | 408M |
| CapEx | 903M | 1.0B | 1.2B | 1.5B | 1.6B | 1.6B | 1.4B | 1.2B | 1.5B | 1.7B | 2.1B | 2.3B | 34M |
| Maint. CapEx | 388M | 401M | 412M | 462M | 507M | 567M | 615M | 657M | 671M | 676M | 772M | 846M | 858M |
| Growth CapEx | 515M | 633M | 785M | 1.0B | 1.1B | 1.1B | 751M | 512M | 813M | 1.1B | 1.3B | 1.4B | 0 |
| D&A | 388M | 401M | 412M | 462M | 507M | 567M | 615M | 657M | 671M | 676M | 772M | 846M | 858M |
| CapEx/OCF | 94.1% | 110.6% | 131.6% | 245.7% | 56.8% | 29.7% | 26.1% | 24.2% | 78.6% | 42.0% | 19.2% | 15.2% | 2.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 226M | 247M | 267M | 288M | 312M | 337M | 377M | 403M | 428M | 456M | 492M | 521M | 528M |
| Dividend Yield | 2.6% | 2.5% | 4.3% | 4.0% | 4.0% | 3.5% | 3.4% | 3.3% | 3.3% | 3.8% | 3.7% | 3.2% | 2.7% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 15M | 11M | 18M | 15M | 17M | 26M | 16M | 14M | 13M | 12M | 12M | 22M | 22M |
| Debt Repayment | 359M | 183M | 313M | 4.6M | 856M | 256M | 657M | 8.0M | 633M | 508M | 809M | 300M | 300M |
| Balance Sheet | |||||||||||||
| Net Debt | 3.9B | 4.0B | 4.6B | 5.2B | 5.9B | 6.5B | 7.1B | 7.8B | 8.7B | 9.4B | 10.3B | 11.2B | 11.2B |
| Cash & Equiv. | 57M | 5.8M | 8.2M | 28M | 21M | 16M | 54M | 39M | 20M | 62M | 81M | 556M | 202M |
| Long-Term Debt | 3.6B | 3.5B | 4.3B | 4.0B | 5.2B | 5.5B | 6.8B | 6.7B | 7.7B | 8.2B | 8.7B | 11.0B | 11.0B |
| Debt/Equity | 1.14 | 1.07 | 1.12 | 1.24 | 1.30 | 1.26 | 1.26 | 1.32 | 1.39 | 1.41 | 1.49 | 1.65 | 1.54 |
| Interest Coverage | 3.0 | 3.1 | 2.8 | 3.1 | 2.8 | 2.8 | 2.7 | 2.9 | 2.9 | 2.4 | 2.0 | 2.0 | 1.9 |
| Equity | 3.4B | 3.7B | 4.1B | 4.2B | 4.6B | 5.2B | 5.7B | 6.0B | 6.3B | 6.8B | 7.0B | 7.3B | 7.4B |
| Total Assets | 12.1B | 12.5B | 13.4B | 14.2B | 15.4B | 16.7B | 17.7B | 18.6B | 20.2B | 21.2B | 22.7B | 25.0B | 24.8B |
| Total Liabilities | 3.6B | 3.7B | 3.8B | 3.6B | 3.7B | 3.7B | 3.8B | 3.8B | 3.9B | 3.9B | 4.3B | 4.6B | 4.6B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 1.9B | 2.1B | 2.2B | 2.3B | 2.5B | 2.8B | 3.0B | 3.3B | 3.5B | 3.8B | 4.0B | 4.2B | 4.3B |
| Working Capital | -172M | -533M | -285M | -1.2B | -859M | -1.2B | -410M | -985M | -1.1B | -1.0B | -1.5B | -426M | -554M |
| Current Assets | 1.0B | 827M | 877M | 905M | 785M | 876M | 887M | 1.1B | 1.3B | 1.3B | 1.2B | 1.7B | 1.2B |
| Current Liabilities | 1.2B | 1.4B | 1.2B | 2.1B | 1.6B | 2.1B | 1.3B | 2.1B | 2.4B | 2.3B | 2.7B | 2.1B | 1.8B |
| Per Share Data | |||||||||||||
| EPS | 0.87 | 0.84 | 1.64 | 1.99 | 2.19 | 2.33 | 2.47 | 2.63 | 2.73 | 2.78 | 2.69 | 3.14 | 3.19 |
| Owner EPS | 1.10 | 1.02 | -0.16 | 0.19 | 0.02 | 0.28 | -0.52 | -0.36 | -0.79 | 0.71 | 1.49 | 1.17 | 1.58 |
| Book Value | 7.76 | 8.27 | 17.93 | 18.20 | 19.61 | 21.77 | 22.88 | 23.91 | 24.98 | 26.80 | 27.31 | 28.43 | 28.74 |
| Cash Flow/Share | 2.01 | 1.93 | 1.73 | 2.27 | 2.26 | 2.76 | 2.02 | 2.32 | 1.93 | 3.43 | 4.55 | 4.53 | 6.50 |
| Dividends/Share | 0.51 | 0.55 | 1.18 | 1.26 | 1.34 | 1.42 | 1.52 | 1.61 | 1.71 | 1.81 | 1.92 | 2.03 | 2.04 |
| Shares Out. | 442.9M | 450.2M | 226.5M | 229.8M | 233.8M | 239.1M | 248.6M | 250.6M | 251.3M | 252.9M | 256.5M | 258.0M | 258.3M |
| Valuation | |||||||||||||
| P/E Ratio | 13.9 | 13.7 | 17.2 | 16.7 | 15.4 | 19.3 | 17.3 | 20.2 | 18.2 | 17.2 | 21.4 | 20.8 | 23.5 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 14.6 |
| EV/EBIT | 16.7 | 15.9 | 19.9 | 18.7 | 19.9 | 22.2 | 23.9 | 26.6 | 22.8 | 22.8 | 28.3 | 27.2 | 30.1 |
| Price/Book | 1.5 | 1.4 | 1.7 | 1.8 | 1.7 | 2.1 | 1.9 | 2.2 | 2.0 | 1.8 | 2.1 | 2.3 | 2.6 |
| Price/Sales | 1.3 | 1.5 | 1.9 | 2.1 | 2.2 | 2.6 | 3.2 | 3.3 | 3.1 | 3.0 | 3.3 | 3.7 | 4.4 |
| FCF Yield | -0.2% | -3.1% | -12.6% | -12.4% | -14.0% | -9.1% | -8.1% | -4.4% | -8.0% | -7.1% | -6.0% | -6.6% | 6.8% |
| Market Cap | 5.3B | 5.2B | 6.4B | 7.6B | 7.9B | 10.7B | 10.6B | 13.3B | 12.5B | 12.1B | 14.8B | 16.8B | 19.4B |
| Avg. Price | 19.92 | 21.92 | 27.27 | 31.43 | 33.17 | 40.17 | 43.97 | 48.10 | 51.99 | 47.93 | 51.67 | 62.59 | 74.94 |
| Year-End Price | 23.97 | 23.04 | 28.28 | 33.16 | 33.75 | 44.93 | 42.77 | 53.13 | 49.82 | 47.93 | 57.66 | 65.24 | 74.94 |
ALLIANT ENERGY CORP passes 3 of 9 quality checks, indicating weak fundamentals.
ALLIANT ENERGY CORP trades at 23.9x trailing earnings, compared to its 15-year median P/E of 17.8x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 5.9% with a gross margin of 43.6%. Total shareholder yield (dividends) is 2.7%. At current prices, the estimated annualized return to fair value is +3.7%.
ALLIANT ENERGY CORP (LNT) has a net profit margin of 18.6%. This is a healthy margin.
ALLIANT ENERGY CORP (LNT) generated $-1.1 billion in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
ALLIANT ENERGY CORP (LNT) has a debt-to-equity ratio of 1.65. This indicates higher leverage, which may increase financial risk.
ALLIANT ENERGY CORP (LNT) reported earnings per share (EPS) of $3.14 in its most recent fiscal year.
ALLIANT ENERGY CORP (LNT) has a return on equity (ROE) of 11.3%. This indicates moderate shareholder returns.
ALLIANT ENERGY CORP (LNT) has a 5-year average gross margin of 43.6%. This indicates decent pricing power.
The Ledger Terminal provides 18 years of financial data for ALLIANT ENERGY CORP (LNT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ALLIANT ENERGY CORP (LNT) has a book value per share of $28.43, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects significant data center load to commence in the second half of 2026, with the majority of contracted load ramping through 2027 and beyond, driving higher earnings growth rates than historical levels during the execution period. The company is actively pursuing between 2–4 gigawatts of additional large load growth opportunities beyond the currently contracted 3.4 GW, with expectations to file additional individual customer rate applications and regulatory dockets throughout 2026 to support planned customer investments. Alliant anticipates decisions on multiple pending regulatory matters over the next 12 months, including advanced ratemaking principles for wind generation, customer-focused investment pre-approvals in Wisconsin, and individual customer rate filings for data center projects, which are critical to cost recovery and maintaining authorized returns. The company expects to continue delivering compound annual earnings growth of 7%+ across 2027–2029 based on current capital expenditure plans and data center load timing, while maintaining a balanced financing approach with approximately $1 billion of remaining common equity to be raised through 2029 to support the expanded capital program.
Based on recent SEC filings and earnings calls, ALLIANT ENERGY CORP (LNT) has provided the following forward guidance: Earnings per share: $3.36–$3.46 (FY2026); Compound annual earnings growth rate: 7%+ (2027–2029); Annual common stock dividend per share: $2.14 (FY2026); Four-year capital expenditure plan: $13.4 billion (2025–2029); Common equity needs: approximately $2.4 billion (Four-year period through 2029).
No recent press releases.