IDACORP, Inc. (IDA) Stock

IDACORP, Inc. (IDA) is a Utilities stock trading at $137.20 (as of 2026-08-21), with a market capitalization of $7.53B and a trailing P/E of 23.3. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

IDACORP, Inc. and its subsidiaries generate, transmit, and distribute electric energy, including hydropower, natural gas, and ownership interests in coal-fired plants. It operates electric utility infrastructure and provides service to approximately 604,000 retail customers in southern Idaho and eastern Oregon.

Understand IDACORP, Inc.: how it makes money

IDACORP operates regulated electric utility assets, generating and transmitting electricity and delivering it to customers in the United States, and it makes money primarily through retail electricity revenues tied to delivered energy (megawatt-hours) plus related regulated and wheeling revenues.

The company’s operating income is structurally driven by Retail Revenues Per Megawatt-Hour, with revenue changes also influenced by regulatory adjustment mechanisms (Fixed Cost Adjustment Mechanism and Idaho Power Financial Condition Adjustment Mechanism) and smaller contributions from other operating items such as transmission wheeling-related revenues.

Business quality (Solid): Clear operating driver is Retail Revenues Per Megawatt-Hour, and customer and reliability metrics are available. However, the provided data does not include a clean, official segment revenue breakdown, and gross margin is not provided.

Valuation: At 24× earnings, IDA trades 10% above the Utilities average (22×). Note: one-time items can distort reported P/E.

Bull case

  • Customer Reliability (Time with Power Available): Customer Reliability (Time with Power Available) was 99.96 percent, which supports resilience in day to day electric service.
  • Hydrology Snowpack Level: Hydrology Snowpack Level was 108 percent, which is a supportive indicator for the hydropower portion of generation at the company’s hydropower plants.
  • Retail demand and customer base: Customers Served was 650000.0 and Net Customers Added was 15000.0 (with Idaho Power Customers Added (Approximate) at 16500.0), supporting the customer base underpinning retail electricity sales.

Bear case

  • Retail earnings sensitivity to delivered energy: Because operating income is driven by Retail Revenues Per Megawatt-Hour, changes in delivered energy volumes or in the regulatory relationship that determines that per-unit revenue can impact earnings.
  • Weather and hydrology variability risk: The company operates hydropower generation (17 hydropower generating plants), so adverse hydrology versus expectations (the company tracks Hydrology Snowpack Level) can be a key risk to generation and results.
  • Regulatory mechanism outcomes: Results can be affected by regulatory adjustment mechanisms, including Fixed Cost Adjustment Mechanism and Idaho Power Financial Condition Adjustment Mechanism, which can change revenues and operating income over time.
Valuation — source: SEC EDGAR (first-party)
Price$137.20
Market Cap$7.53B
P/E Ratio23.3
EV / EBITDA17.6
Price / Book2.10
Price / Sales4.31
FCF Yield-7.7%
DCF Value (model)$98.42
DCF Upside vs Price-28.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.75B
Net Margin18.5%
Revenue Growth (YoY)-1.2%
EPS Growth (YoY)8.4%
FCF Growth (YoY)39.2%
Financial Health — source: SEC EDGAR
Altman Z-Score1.27 (distress)
Valuation vs Sector & Industry
Stock P/E23.3
Sector P/E (Utilities)20.8
Industry P/E (Utilities)20.1
vs Sector11.7%
vs Industry16.0%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($928.44M)
Institutional Holders Tracked10
Congressional Trades (recent)4
Company
SectorUtilities
IndustryUtilities
CEOLisa A. Grow
Employees2,130
CountryUS
IPO Date1944-08-01

Related Companies (Business model: Regulated Utility (Electric / Gas); 8 closest by market cap; US-domiciled)

  • OGE Energy Corp. (OGE)
  • Oklo Inc. (OKLO)
  • Clearway Energy, Inc. (CWEN)
  • Ormat Technologies, Inc. (ORA)
  • TXNM Energy, Inc. (TXNM)
  • Portland General Electric Company (POR)
  • Black Hills Corporation (BKH)
  • Brookfield Renewable Corporation (BEPC)
IDA earnings history · IDA institutional & insider holders · IDA KPIs & operating metrics · IDA financials · IDA investor presentations & press releases · IDA SEC filings · IDA peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.