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ALGONQUIN POWER & UTILITIES (AQN) Stock Fundamental Analysis

NYSE:AQN - CA0158571053 - Common Stock

5.8 USD
0 (0%)
Last: 8/29/2025, 8:06:41 PM
5.78 USD
-0.02 (-0.34%)
After Hours: 8/29/2025, 8:06:41 PM
Fundamental Rating

3

AQN gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 25 industry peers in the Multi-Utilities industry. AQN has a bad profitability rating. Also its financial health evaluation is rather negative. AQN does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

AQN had positive earnings in the past year.
In the past year AQN had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: AQN reported negative net income in multiple years.
Each year in the past 5 years AQN had a positive operating cash flow.
AQN Yearly Net Income VS EBIT VS OCF VS FCFAQN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M -1B

1.2 Ratios

With a Return On Assets value of -10.09%, AQN is not doing good in the industry: 92.00% of the companies in the same industry are doing better.
With a Return On Equity value of -29.51%, AQN is not doing good in the industry: 92.00% of the companies in the same industry are doing better.
With a Return On Invested Capital value of 3.00%, AQN is not doing good in the industry: 84.00% of the companies in the same industry are doing better.
The Average Return On Invested Capital over the past 3 years for AQN is in line with the industry average of 3.82%.
The last Return On Invested Capital (3.00%) for AQN is above the 3 year average (2.36%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA -10.09%
ROE -29.51%
ROIC 3%
ROA(3y)-3.11%
ROA(5y)-0.39%
ROE(3y)-11.12%
ROE(5y)-2.83%
ROIC(3y)2.36%
ROIC(5y)2.31%
AQN Yearly ROA, ROE, ROICAQN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 -20

1.3 Margins

AQN's Operating Margin of 20.38% is in line compared to the rest of the industry. AQN outperforms 56.00% of its industry peers.
AQN's Operating Margin has declined in the last couple of years.
The Gross Margin of AQN (74.06%) is better than 76.00% of its industry peers.
AQN's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 20.38%
PM (TTM) N/A
GM 74.06%
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 Yearly Profit, Operating, Gross MarginsAQN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 60

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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AQN is destroying value.
The number of shares outstanding for AQN has been increased compared to 1 year ago.
AQN has more shares outstanding than it did 5 years ago.
The debt/assets ratio for AQN has been reduced compared to a year ago.
AQN Yearly Shares OutstandingAQN Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
AQN Yearly Total Debt VS Total AssetsAQN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

Based on the Altman-Z score of 0.30, we must say that AQN is in the distress zone and has some risk of bankruptcy.
AQN has a Altman-Z score of 0.30. This is amonst the worse of the industry: AQN underperforms 96.00% of its industry peers.
AQN has a Debt/Equity ratio of 1.29. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.29, AQN is in the better half of the industry, outperforming 72.00% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.29
Debt/FCF N/A
Altman-Z 0.3
ROIC/WACC0.51
WACC5.83%
AQN Yearly LT Debt VS Equity VS FCFAQN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B

2.3 Liquidity

A Current Ratio of 1.09 indicates that AQN should not have too much problems paying its short term obligations.
With an excellent Current ratio value of 1.09, AQN belongs to the best of the industry, outperforming 92.00% of the companies in the same industry.
AQN has a Quick Ratio of 1.09. This is a bad value and indicates that AQN is not financially healthy enough and could expect problems in meeting its short term obligations.
AQN has a better Quick ratio (0.90) than 92.00% of its industry peers.
Industry RankSector Rank
Current Ratio 1.09
Quick Ratio 0.9
AQN Yearly Current Assets VS Current LiabilitesAQN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

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3

3. Growth

3.1 Past

AQN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -36.00%.
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.
The Revenue for AQN has decreased by -25.45% in the past year. This is quite bad
The Revenue has been growing slightly by 7.38% on average over the past years.
EPS 1Y (TTM)-36%
EPS 3Y-19.53%
EPS 5Y-10.38%
EPS Q2Q%-55.56%
Revenue 1Y (TTM)-25.45%
Revenue growth 3Y0.49%
Revenue growth 5Y7.38%
Sales Q2Q%-11.83%

3.2 Future

Based on estimates for the next years, AQN will show a small growth in Earnings Per Share. The EPS will grow by 6.99% on average per year.
The Revenue is expected to grow by 2.30% on average over the next years.
EPS Next Y-15.38%
EPS Next 2Y-0.64%
EPS Next 3Y5.49%
EPS Next 5Y6.99%
Revenue Next Year-11.47%
Revenue Next 2Y-4.22%
Revenue Next 3Y-1.09%
Revenue Next 5Y2.3%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
AQN Yearly Revenue VS EstimatesAQN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B 1.5B 2B 2.5B
AQN Yearly EPS VS EstimatesAQN Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.2 0.4 0.6

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2

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 18.13, AQN is valued on the expensive side.
Compared to the rest of the industry, the Price/Earnings ratio of AQN is on the same level as its industry peers.
Compared to an average S&P500 Price/Earnings ratio of 27.08, AQN is valued a bit cheaper.
A Price/Forward Earnings ratio of 15.88 indicates a correct valuation of AQN.
AQN's Price/Forward Earnings is on the same level as the industry average.
The average S&P500 Price/Forward Earnings ratio is at 22.72. AQN is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 18.13
Fwd PE 15.88
AQN Price Earnings VS Forward Price EarningsAQN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

AQN's Enterprise Value to EBITDA ratio is in line with the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 11.96
AQN Per share dataAQN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-0.64%
EPS Next 3Y5.49%

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6

5. Dividend

5.1 Amount

AQN has a Yearly Dividend Yield of 4.56%, which is a nice return.
AQN's Dividend Yield is a higher than the industry average which is at 3.66.
AQN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.35.
Industry RankSector Rank
Dividend Yield 4.56%

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 Yearly Dividends per shareAQN Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

The earnings of AQN are negative and hence is the payout ratio. AQN will probably not be able to sustain this dividend level.
The dividend of AQN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP-17.76%
EPS Next 2Y-0.64%
EPS Next 3Y5.49%
AQN Yearly Income VS Free CF VS DividendAQN Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M -1B

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ALGONQUIN POWER & UTILITIES

NYSE:AQN (8/29/2025, 8:06:41 PM)

After market: 5.78 -0.02 (-0.34%)

5.8

0 (0%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryMulti-Utilities
Earnings (Last)08-08 2025-08-08/bmo
Earnings (Next)11-05 2025-11-05
Inst Owners72.96%
Inst Owner Change6.09%
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap4.45B
Analysts53.33
Price Target4.91 (-15.34%)
Short Float %3%
Short Ratio3.05
Dividend
Industry RankSector Rank
Dividend Yield 4.56%
Yearly Dividend0.41
Dividend Growth(5Y)0.06%
DP-17.76%
Div Incr Years0
Div Non Decr Years0
Ex-Date09-29 2025-09-29 (0.065)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)20.74%
Min EPS beat(2)-0.69%
Max EPS beat(2)42.17%
EPS beat(4)1
Avg EPS beat(4)0.15%
Min EPS beat(4)-25.74%
Max EPS beat(4)42.17%
EPS beat(8)3
Avg EPS beat(8)0.22%
EPS beat(12)4
Avg EPS beat(12)-3.83%
EPS beat(16)5
Avg EPS beat(16)-3.04%
Revenue beat(2)2
Avg Revenue beat(2)3.06%
Min Revenue beat(2)0.82%
Max Revenue beat(2)5.31%
Revenue beat(4)2
Avg Revenue beat(4)0.36%
Min Revenue beat(4)-4.61%
Max Revenue beat(4)5.31%
Revenue beat(8)3
Avg Revenue beat(8)-2.11%
Revenue beat(12)7
Avg Revenue beat(12)0.07%
Revenue beat(16)10
Avg Revenue beat(16)1.41%
PT rev (1m)1.94%
PT rev (3m)18.57%
EPS NQ rev (1m)-3.53%
EPS NQ rev (3m)N/A
EPS NY rev (1m)5.98%
EPS NY rev (3m)5.98%
Revenue NQ rev (1m)1.51%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-1.86%
Revenue NY rev (3m)-1.86%
Valuation
Industry RankSector Rank
PE 18.13
Fwd PE 15.88
P/S 1.87
P/FCF N/A
P/OCF 10.1
P/B 0.95
P/tB 1.35
EV/EBITDA 11.96
EPS(TTM)0.32
EY5.52%
EPS(NY)0.37
Fwd EY6.3%
FCF(TTM)-0.55
FCFYN/A
OCF(TTM)0.57
OCFY9.9%
SpS3.1
BVpS6.1
TBVpS4.29
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -10.09%
ROE -29.51%
ROCE 3.8%
ROIC 3%
ROICexc 3.01%
ROICexgc 3.38%
OM 20.38%
PM (TTM) N/A
GM 74.06%
FCFM N/A
ROA(3y)-3.11%
ROA(5y)-0.39%
ROE(3y)-11.12%
ROE(5y)-2.83%
ROIC(3y)2.36%
ROIC(5y)2.31%
ROICexc(3y)2.37%
ROICexc(5y)2.33%
ROICexgc(3y)2.6%
ROICexgc(5y)2.56%
ROCE(3y)2.99%
ROCE(5y)2.93%
ROICexcg growth 3Y4.3%
ROICexcg 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 1.29
Debt/FCF N/A
Debt/EBITDA 6.71
Cap/Depr 209.43%
Cap/Sales 36.33%
Interest Coverage 1.25
Cash Conversion 49.18%
Profit Quality N/A
Current Ratio 1.09
Quick Ratio 0.9
Altman-Z 0.3
F-Score4
WACC5.83%
ROIC/WACC0.51
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)-36%
EPS 3Y-19.53%
EPS 5Y-10.38%
EPS Q2Q%-55.56%
EPS Next Y-15.38%
EPS Next 2Y-0.64%
EPS Next 3Y5.49%
EPS Next 5Y6.99%
Revenue 1Y (TTM)-25.45%
Revenue growth 3Y0.49%
Revenue growth 5Y7.38%
Sales Q2Q%-11.83%
Revenue Next Year-11.47%
Revenue Next 2Y-4.22%
Revenue Next 3Y-1.09%
Revenue Next 5Y2.3%
EBIT growth 1Y-22.44%
EBIT growth 3Y4.45%
EBIT growth 5Y4.06%
EBIT Next Year44.64%
EBIT Next 3Y17.99%
EBIT Next 5YN/A
FCF growth 1Y-33.56%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-7.88%
OCF growth 3Y45.17%
OCF growth 5Y-4.65%