IDACORP Inc.
IDACORP Inc. is an energy holding company based in the United States.
It provides reliable electricity services through its primary subsidiary, Idaho Power.
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Performance
IDACORP remains committed to delivering competitive total returns and long-term value to its shareholders, with a strategic focus on Idaho Power as its core business and primary contributor to operating results. In 2024, IDACORP achieved its seventeenth consecutive year of net income growth, while Idaho Power experienced significant customer and sales growth, setting new records for retail electricity sales and peak demand. Regulatory successes included rate increases approved by both the Idaho and Oregon public utility commissions, expected to generate additional annual revenues of $50.1 million and $6.7 million, respectively. Idaho Power continued to provide reliable service, maintaining 99.96 percent uninterrupted delivery, and achieved strong third-party ratings in customer satisfaction for both residential and business segments. Reflecting confidence in its financial strength, IDACORP’s board approved a dividend increase in September 2024, raising the quarterly cash dividend from $0.83 to $0.86 per share—part of a 187 percent total increase over the past thirteen years. IDACORP Inc.’s has a Price-to-Earnings (PE) ratio of 21, reflecting a solid market position and investor confidence. The return on assets (ROA) is 2 %, indicating efficient utilization of resources, while the return on equity (ROE) at 9 % reflects strong value creation for shareholders. Moreover, the trailing PE ratio is 21, with the price-to-book ratio at 1.90. IDACORP did not repurchase any shares of its common stock during the fourth quarter of 2024.
Quality of Earnings
The company demonstrates adherence to General Accounting Principles, with financial reports that conform to GAAP, are decision-useful, sustainable, and offer returns exceeding the cost of capital. There have been no recent changes to accounting policies, and all required financial reports are submitted on time. Revenue quality is also robust, marked by high predictability. Additionally, there are no significant financial report warning signs: earnings contain minimal accrual components, do not narrowly beat benchmarks in a suspicious pattern, and revenue is not recognized prematurely. Expenses are not misrepresented, audit opinions are unqualified, goodwill is properly assessed, and the company does not rely on aggressive accounting tactics such as related-party transactions. Operating cash flows align with net income, earnings are recurring and persistent. The Auditor issued a critical audit matter: “communicated below is a matter arising from the current-period audit of the financial statements that was communicated or required to be communicated to the audit committee and that (1) relates to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates”. IDACORP’s and Idaho Power’s off-balance sheet arrangements as of December 31, 2024, include guarantees of Idaho Power’s portion of reclamation activities and obligations at BCC, of which IERCo owns a one-third interest.
Quality of revenue can be self checked with this questionnaire:
Conclusions were based on an annual report:
Company Summary
IDACORP Inc. is a diversified energy company providing reliable and sustainable services across various sectors. Some of insiders are acquiring company stock likely as a compensation (routine insider activity). With its primary focus on electric utility operations, IDACORP Inc. serves numerous customers through innovative energy solutions, balancing environmental responsibility with operational efficiency. The company remains dedicated to delivering long-term value to its stakeholders. The main shortcomings at this point of this company are limited growth potential, no clear repurchase strategy (to some extent compensated with dividends), critical audit matter in financial statements, and off-balance sheet arrangements.
