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AQN · NYSE · United States · Electric Services
In shortALGONQUIN POWER & UTILITIES CORP. is profitable, burns cash and carries moderate debt, with revenue growing (+4.9% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 20.7% | 86/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 7.4% | 50/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 3.9% | 19/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 3.1% | 21/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.00× | 17/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 1.41× | 33/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 7.18× | 0/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 1.79× | 3/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 0.07 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -7.3% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | -0.99× | 0/100 |
| Years with positive free cash flow (last 5) | 0 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 3 of 5 | 60/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 19.5% | 39/100 |
| Operating margin volatility | 2.4% | 88/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -4.2% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
4 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 2,274 | 2,765 | 2,404 | 2,320 | 2,434 |
| Operating income | 413 | 402 | 467 | 446 | 505 |
| Interest expense | 210 | 279 | 308 | 364 | 283 |
| Pre-tax income | 142 | (370) | (62) | 177 | 211 |
| Income tax | (43) | (62) | (37) | 187 | 65 |
| Net income | 265 | (212) | 29 | (1,381) | 181 |
| Diluted EPS | $0.41 | −$0.33 | $0.03 | −$1.90 | $0.22 |
| Diluted shares (millions) | 629 | 678 | 691 | 734 | 772 |
4 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.
The last 8 quarters of ALGONQUIN POWER & UTILITIES CORP. are included in the Investor plan. Try free for 7 days →
0.07 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
6/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Mar 6, 2026