Alliant Energy Corporation (LNT)
割高ファンダメンタル
59
株価
$63.48
時価総額
$16.42B
パート1 · 企業の価値
概要
Alliant Energy owns two regulated utilities, Interstate Power and Light in Iowa and Wisconsin Power and Light in Wisconsin, that generate and deliver electricity and distribute natural gas to homes and businesses in the Midwest. It builds and operates power plants, transmission lines and gas pipelines within a territory where state regulators, not competitors, set the prices it can charge and the returns it can earn.
収益の仕組み
Customers pay metered rates for electricity and gas that regulators approve in advance through rate cases, designed to let Alliant recover its costs and earn a set return on the capital it invests in plants and wires. Growth therefore comes mainly from adding new rate base — power plants, grid upgrades, renewable projects — rather than from selling more volume to existing customers, whose usage regulators actively try to keep efficient.
セグメント別売上高
Generation, transmission and retail sale of electricity to roughly a million customers across Iowa and Wisconsin.
Distribution and transportation of natural gas to roughly 435,000 residential and business customers.
Smaller regulated and non-utility activities that fall outside the core electric and gas businesses.
競争優位性(moat)
規模の経済 · 狭いBuilding a second set of power plants and wires to compete for the same customers would be prohibitively expensive, so Alliant effectively holds a monopoly within its service territory. That advantage is narrow rather than wide because regulators, not the market, decide how much profit the company is allowed to keep on the capital it deploys.
需要を左右する要因
ディフェンシブHouseholds and businesses need electricity and gas regardless of the economic cycle, so volumes are stable and driven mainly by weather rather than by consumer spending or industrial activity. The main swing factor is temperature: a mild winter or summer reduces heating and cooling demand and can dent a given year's results.
主なリスク
- Outcome of rate cases — Earnings growth depends on state regulators approving rate increases that let Alliant recover its investments and earn its allowed return; a less favorable or delayed decision slows growth directly.
- Large, ongoing capital spending — The company has a multi-year plan of heavy investment in renewable generation and grid upgrades; higher interest rates or construction cost inflation raise the price of that program and pressure returns.
- Weather dependence — Unusually mild seasons reduce heating and cooling demand and can lower revenue in a given period, independent of the underlying customer base.
- Environmental and climate regulation — Evolving rules on emissions and the pace of the shift away from fossil generation create uncertainty about future compliance costs and the value of existing plants.
強気材料
Buyers argue that a regulated monopoly with a clear, multi-year investment plan in renewables and grid modernization offers predictable earnings growth as new capital enters the rate base, with limited exposure to economic downturns.
弱気材料
Sellers fear that regulators will push back on the size or pace of rate increases needed to fund the capital plan, and that persistently higher interest rates raise financing costs faster than allowed returns can adjust.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
Generated on 2026年9月19日 with claude-haiku-4-5 — shared with all users
The closest peer in Wisconsin: its We Energies and Wisconsin Public Service utilities serve regulated electric and gas customers in the same state as Alliant's WPL, and the two compete for the same large industrial and data-center load, for territory at municipal boundaries and in the MISO wholesale power market.
Through Northern States Power it runs regulated electric and gas utilities in western Wisconsin, Minnesota and the upper Midwest, bordering Alliant's Iowa and Wisconsin territories and selling into the same MISO wholesale market.
A smaller Wisconsin utility whose Madison-area electric and gas service territory is interleaved with Alliant's WPL, under the same state regulator and competing for the same growing customers in south-central Wisconsin.
A regulated electric and gas utility holding company in Missouri and Illinois with the same rate-regulated business model, competing with Alliant in the MISO wholesale energy and capacity market and for industrial customers siting in the Midwest.
A regulated Midwest electric utility of comparable size in Kansas and Missouri, selling into the same regional wholesale markets and courting the same large data-center and manufacturing load that Alliant is trying to attract to Iowa and Wisconsin.
貸借対照表と流動性
売上高
$4.42B
直近12か月(2026/3/31まで)
純利益
$821M
直近12か月(2026/3/31まで)
フリーキャッシュフロー
-
自己資本合計
$7.33B
負債合計
$17.66B
流動比率
0.69
利払い倍率
1.90
負債/EBITDA
6.56
一株当たり利益(EPS)
売上高と純利益
フリーキャッシュフロー
収益内訳
財務推移表
利益率の推移
負債の推移
負債の重さ
成長率グリッド
成長率 — 売上高
適正価値の推定
適正価値
$50.93
現在株価
$63.48
安全マージン
-24.6%
適正価値レンジ
$33.10 - $68.75
使用した評価手法間のばらつきであり、統計的に較正された信頼区間ではありません。
推定方法
バリュエーション指標
P/E レシオ
19.91
ROE
11.0%
P/B レシオ
2.20
P/FCF
-
粗利益率
85.8%
ROIC
3.5%
収益性レーダー
価値創造(経済的モート)
ROIC
3.5%
WACC
6.0%
ROIC − WACC
-2.5 pp
ROICが資本コストを下回っています。投資した1ドルごとに企業は価値を破壊しています。
ファンダメンタル分析基準
合格(16)
- EPS shows upward trend
- Price CAGR 5.33%
- Gross Margin 85.8%
- P/B Ratio 2.20
- Debt/Equity ratio
- Operating Margin 23.0%
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- ROE 11.0%
- Revenue Growth 5Y 5.1%
- Analyst Consensus 61% Buy
- Earnings Quality (OCF/NI) 1.57
- Share Dilution 0.6%
- Net Margin Trend 18.6% vs 18.3%
- Piotroski F-Score 7/9
不合格(8)
- EPS CAGR 1.09%
- ROIC 3.5%
- Current Ratio
- Debt/EBITDA
- Price below Graham Number
- DCF valuation (Overvalued)
- Earnings Surprise avg 1.2%
- PEG Ratio 4.38
データなし(4)
- P/FCF NaN
- Dividend Payout NaN%
- Positive Free Cash Flow
- CapEx intensity
Piotroski F-スコア
財務健全性が高い
利益の質
高品質:利益はキャッシュに裏付けられている
株式希薄化
株式数は安定している
機関投資家の保有
ガバナンス
経営陣
| 氏名 | 役職 | 年齢 |
|---|---|---|
| Ms. Lisa M. Barton | President, CEO & Director | 59 |
| Mr. Robert J. Durian CPA | Executive VP & CFO | 54 |
| Mr. Rajagopalan Sundararajan | Executive VP & Chief Strategy Officer | 50 |
| Mr. Antonio P. Smyth | Executive Vice President of Power Generation & Gas Strategy | 48 |
| Mr. Dylan M. Syse | Chief Accounting Officer & Controller | 39 |
| Ms. Melissa A. Kehoe | Vice President of Strategic Financial Planning & Investor Relations | 40 |
| Ms. Amy L. Cralam | VP & General Counsel | - |
| Ms. Aimee L. Davis | Vice President of Marketing, Communications & Customer Operations | 52 |
| Ms. Amy E. Best | Senior VP & Chief Human Resources Officer | - |
| Ms. Mayuri N. Farlinger | President of Iowa Energy & VP of Energy Delivery | 42 |
監査リスク
5
取締役会リスク
1
報酬リスク
1
株主権利リスク
3
パート2 · 株価と買い時
この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容:テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。
業績推移
via SEC EDGAR
Latest News
Recent headlines for LNT, sourced from Markets Gazette.