ALGONQUIN POWER & UTILITIES (AQN.CA) Stock Fundamental Analysis

TSX:AQN • CA0158571053

9.54 CAD
+0.1 (+1.06%)
Last: Feb 27, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to AQN. AQN was compared to 19 industry peers in the Multi-Utilities industry. Both the profitability and financial health of AQN have multiple concerns. AQN is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

3

1. Profitability

1.1 Basic Checks

  • In the past year AQN was profitable.
  • AQN had a positive operating cash flow in the past year.
  • In multiple years AQN reported negative net income over the last 5 years.
  • Each year in the past 5 years AQN had a positive operating cash flow.
AQN.CA Yearly Net Income VS EBIT VS OCF VS FCFAQN.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M -1B

1.2 Ratios

  • The Return On Assets of AQN (-0.27%) is worse than 78.95% of its industry peers.
  • Looking at the Return On Equity, with a value of -0.80%, AQN is doing worse than 78.95% of the companies in the same industry.
  • The Return On Invested Capital of AQN (2.88%) is worse than 78.95% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for AQN is in line with the industry average of 3.77%.
  • The 3 year average ROIC (2.15%) for AQN is below the current ROIC(2.88%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA -0.27%
ROE -0.8%
ROIC 2.88%
ROA(3y)-3.11%
ROA(5y)-0.39%
ROE(3y)-11.12%
ROE(5y)-2.83%
ROIC(3y)2.15%
ROIC(5y)2.11%
AQN.CA Yearly ROA, ROE, ROICAQN.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 -20

1.3 Margins

  • The Operating Margin of AQN (21.55%) is worse than 78.95% of its industry peers.
  • In the last couple of years the Operating Margin of AQN has declined.
  • AQN has a Gross Margin of 73.94%. This is in the lower half of the industry: AQN underperforms 63.16% of its industry peers.
  • In the last couple of years the Gross Margin of AQN has remained more or less at the same level.
Industry RankSector Rank
OM 21.55%
PM (TTM) N/A
GM 73.94%
OM growth 3Y3.93%
OM growth 5Y-3.09%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.98%
GM growth 5Y0.16%
AQN.CA Yearly Profit, Operating, Gross MarginsAQN.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 60

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • AQN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • AQN has more shares outstanding than it did 1 year ago.
  • AQN has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, AQN has an improved debt to assets ratio.
AQN.CA Yearly Shares OutstandingAQN.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
AQN.CA Yearly Total Debt VS Total AssetsAQN.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

  • AQN has an Altman-Z score of 0.37. This is a bad value and indicates that AQN is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of AQN (0.37) is worse than 78.95% of its industry peers.
  • A Debt/Equity ratio of 1.33 is on the high side and indicates that AQN has dependencies on debt financing.
  • AQN has a Debt to Equity ratio of 1.33. This is amongst the best in the industry. AQN outperforms 100.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.33
Debt/FCF N/A
Altman-Z 0.37
ROIC/WACC0.48
WACC6.03%
AQN.CA Yearly LT Debt VS Equity VS FCFAQN.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B

2.3 Liquidity

  • A Current Ratio of 1.23 indicates that AQN should not have too much problems paying its short term obligations.
  • With a Current ratio value of 1.23, AQN perfoms like the industry average, outperforming 47.37% of the companies in the same industry.
  • AQN has a Quick Ratio of 1.03. This is a normal value and indicates that AQN is financially healthy and should not expect problems in meeting its short term obligations.
  • The Quick ratio of AQN (1.03) is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 1.23
Quick Ratio 1.03
AQN.CA Yearly Current Assets VS Current LiabilitesAQN.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. Growth

3.1 Past

  • The earnings per share for AQN have decreased strongly by -29.79% in the last year.
  • Measured over the past years, AQN shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -10.38% on average per year.
  • Looking at the last year, AQN shows a very negative growth in Revenue. The Revenue has decreased by -23.92% in the last year.
  • AQN shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.38% yearly.
EPS 1Y (TTM)-29.79%
EPS 3Y-19.53%
EPS 5Y-10.38%
EPS Q2Q%12.5%
Revenue 1Y (TTM)-23.92%
Revenue growth 3Y0.49%
Revenue growth 5Y7.38%
Sales Q2Q%1.66%

3.2 Future

  • The Earnings Per Share is expected to grow by 4.09% on average over the next years.
  • AQN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.30% yearly.
EPS Next Y-12.26%
EPS Next 2Y-0.48%
EPS Next 3Y6.43%
EPS Next 5Y4.09%
Revenue Next Year-9.8%
Revenue Next 2Y-3.22%
Revenue Next 3Y-0.62%
Revenue Next 5Y2.3%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
AQN.CA Yearly Revenue VS EstimatesAQN.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B 1.5B 2B 2.5B
AQN.CA Yearly EPS VS EstimatesAQN.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.2 0.4 0.6

More info and screens

Find the best growth stocksShow best growing peers

1

4. Valuation

4.1 Price/Earnings Ratio

  • AQN is valuated rather expensively with a Price/Earnings ratio of 21.20.
  • Based on the Price/Earnings ratio, AQN is valued a bit more expensive than 73.68% of the companies in the same industry.
  • AQN's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.07.
  • Based on the Price/Forward Earnings ratio of 19.04, the valuation of AQN can be described as rather expensive.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of AQN indicates a slightly more expensive valuation: AQN is more expensive than 63.16% of the companies listed in the same industry.
  • AQN's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.05.
Industry RankSector Rank
PE 21.2
Fwd PE 19.04
AQN.CA Price Earnings VS Forward Price EarningsAQN.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, AQN is valued a bit more expensive than 78.95% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 12.88
AQN.CA Per share dataAQN.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-0.48%
EPS Next 3Y6.43%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • AQN has a Yearly Dividend Yield of 6.61%, which is a nice return.
  • Compared to an average industry Dividend Yield of 5.03, AQN pays a bit more dividend than its industry peers.
  • AQN's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 6.61%

5.2 History

  • The dividend of AQN has a limited annual growth rate of 0.06%.
  • AQN has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)0.06%
Div Incr Years0
Div Non Decr Years0
AQN.CA Yearly Dividends per shareAQN.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6

5.3 Sustainability

  • AQN has negative earnings and hence a negative payout ratio. The dividend may be in danger.
  • The dividend of AQN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP-569.86%
EPS Next 2Y-0.48%
EPS Next 3Y6.43%
AQN.CA Yearly Income VS Free CF VS DividendAQN.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M -1B

More info and screens

Find the best dividend stocksShow peers with best dividend

ALGONQUIN POWER & UTILITIES

TSX:AQN (2/27/2026, 7:00:00 PM)

9.54

+0.1 (+1.06%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryMulti-Utilities
Earnings (Last)11-07
Earnings (Next)03-06
Inst Owners74.14%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap7.33B
Revenue(TTM)2.39B
Net Income(TTM)-37.22M
Analysts71.67
Price Target6.83 (-28.41%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.61%
Yearly Dividend0.55
Dividend Growth(5Y)0.06%
DP-569.86%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)17.46%
Min EPS beat(2)-0.69%
Max EPS beat(2)35.61%
EPS beat(4)2
Avg EPS beat(4)12.84%
Min EPS beat(4)-25.74%
Max EPS beat(4)42.17%
EPS beat(8)4
Avg EPS beat(8)5.61%
EPS beat(12)5
Avg EPS beat(12)1.98%
EPS beat(16)6
Avg EPS beat(16)-0.66%
Revenue beat(2)1
Avg Revenue beat(2)-0.52%
Min Revenue beat(2)-1.85%
Max Revenue beat(2)0.82%
Revenue beat(4)2
Avg Revenue beat(4)-0.08%
Min Revenue beat(4)-4.61%
Max Revenue beat(4)5.31%
Revenue beat(8)3
Avg Revenue beat(8)-1.75%
Revenue beat(12)6
Avg Revenue beat(12)-0.49%
Revenue beat(16)9
Avg Revenue beat(16)0.59%
PT rev (1m)-2.2%
PT rev (3m)-0.93%
EPS NQ rev (1m)-8.36%
EPS NQ rev (3m)-16.95%
EPS NY rev (1m)0%
EPS NY rev (3m)3.27%
Revenue NQ rev (1m)-2.06%
Revenue NQ rev (3m)-2.06%
Revenue NY rev (1m)-0.29%
Revenue NY rev (3m)1.17%
Valuation
Industry RankSector Rank
PE 21.2
Fwd PE 19.04
P/S 2.25
P/FCF N/A
P/OCF 11.51
P/B 1.15
P/tB 1.64
EV/EBITDA 12.88
EPS(TTM)0.45
EY4.72%
EPS(NY)0.5
Fwd EY5.25%
FCF(TTM)-0.64
FCFYN/A
OCF(TTM)0.83
OCFY8.69%
SpS4.25
BVpS8.26
TBVpS5.8
PEG (NY)N/A
PEG (5Y)N/A
Graham Number9.15
Profitability
Industry RankSector Rank
ROA -0.27%
ROE -0.8%
ROCE 4%
ROIC 2.88%
ROICexc 2.9%
ROICexgc 3.25%
OM 21.55%
PM (TTM) N/A
GM 73.94%
FCFM N/A
ROA(3y)-3.11%
ROA(5y)-0.39%
ROE(3y)-11.12%
ROE(5y)-2.83%
ROIC(3y)2.15%
ROIC(5y)2.11%
ROICexc(3y)2.16%
ROICexc(5y)2.12%
ROICexgc(3y)2.37%
ROICexgc(5y)2.33%
ROCE(3y)2.99%
ROCE(5y)2.93%
ROICexgc growth 3Y4.3%
ROICexgc growth 5Y-5.03%
ROICexc growth 3Y4.14%
ROICexc growth 5Y-4.63%
OM growth 3Y3.93%
OM growth 5Y-3.09%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.98%
GM growth 5Y0.16%
F-Score4
Asset Turnover0.17
Health
Industry RankSector Rank
Debt/Equity 1.33
Debt/FCF N/A
Debt/EBITDA 6.76
Cap/Depr 208.02%
Cap/Sales 34.55%
Interest Coverage 1.49
Cash Conversion 51.11%
Profit Quality N/A
Current Ratio 1.23
Quick Ratio 1.03
Altman-Z 0.37
F-Score4
WACC6.03%
ROIC/WACC0.48
Cap/Depr(3y)213.94%
Cap/Depr(5y)245.17%
Cap/Sales(3y)39.89%
Cap/Sales(5y)45.08%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-29.79%
EPS 3Y-19.53%
EPS 5Y-10.38%
EPS Q2Q%12.5%
EPS Next Y-12.26%
EPS Next 2Y-0.48%
EPS Next 3Y6.43%
EPS Next 5Y4.09%
Revenue 1Y (TTM)-23.92%
Revenue growth 3Y0.49%
Revenue growth 5Y7.38%
Sales Q2Q%1.66%
Revenue Next Year-9.8%
Revenue Next 2Y-3.22%
Revenue Next 3Y-0.62%
Revenue Next 5Y2.3%
EBIT growth 1Y-15.87%
EBIT growth 3Y4.45%
EBIT growth 5Y4.06%
EBIT Next Year45.9%
EBIT Next 3Y20.8%
EBIT Next 5YN/A
FCF growth 1Y-47.31%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-27.45%
OCF growth 3Y45.17%
OCF growth 5Y-4.65%

ALGONQUIN POWER & UTILITIES / AQN.CA FAQ

What is the ChartMill fundamental rating of ALGONQUIN POWER & UTILITIES (AQN.CA) stock?

ChartMill assigns a fundamental rating of 3 / 10 to AQN.CA.


What is the valuation status for AQN stock?

ChartMill assigns a valuation rating of 1 / 10 to ALGONQUIN POWER & UTILITIES (AQN.CA). This can be considered as Overvalued.


How profitable is ALGONQUIN POWER & UTILITIES (AQN.CA) stock?

ALGONQUIN POWER & UTILITIES (AQN.CA) has a profitability rating of 3 / 10.


What is the financial health of ALGONQUIN POWER & UTILITIES (AQN.CA) stock?

The financial health rating of ALGONQUIN POWER & UTILITIES (AQN.CA) is 3 / 10.


Is the dividend of ALGONQUIN POWER & UTILITIES sustainable?

The dividend rating of ALGONQUIN POWER & UTILITIES (AQN.CA) is 6 / 10 and the dividend payout ratio is -569.86%.