Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

IDACORP, Inc. (IDA)

Company Dividend Discount ModelIndustry: Regulated ElectricSector: Utilities

Valuation Snapshot

Stable Growth$177.75 - $773.71$308.93
Multi-Stage$142.11 - $155.47$148.67
Blended Fair Value$228.80
Current Price$132.15
Upside73.14%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS6.37%7.15%3.253.012.842.692.532.382.232.081.931.78
YoY Growth--7.96%6.00%5.59%6.03%6.27%6.80%7.33%7.76%8.44%9.40%
Dividend Yield--2.79%3.27%2.62%2.33%2.53%2.72%2.24%2.36%2.33%2.39%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)317.74
(-) Cash Dividends Paid (M)187.41
(=) Cash Retained (M)130.33
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)63.5539.7223.83
Cash Retained (M)130.33130.33130.33
(-) Cash Required (M)-63.55-39.72-23.83
(=) Excess Retained (M)66.7890.61106.50
(/) Shares Outstanding (M)54.3854.3854.38
(=) Excess Retained per Share1.231.671.96
LTM Dividend per Share3.453.453.45
(+) Excess Retained per Share1.231.671.96
(=) Adjusted Dividend4.675.115.40
WACC / Discount Rate7.03%7.03%7.03%
Growth Rate4.29%5.29%6.29%
Fair Value$177.75$308.93$773.71
Upside / Downside34.51%133.77%485.48%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)317.74334.55352.25370.89390.52411.18423.51
Payout Ratio58.98%65.19%71.39%77.59%83.80%90.00%92.50%
Projected Dividends (M)187.41218.08251.47287.79327.24370.06391.75

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.03%7.03%7.03%
Growth Rate4.29%5.29%6.29%
Year 1 PV (M)201.82203.75205.69
Year 2 PV (M)215.36219.51223.70
Year 3 PV (M)228.08234.70241.45
Year 4 PV (M)240.00249.34258.94
Year 5 PV (M)251.16263.44276.18
PV of Terminal Value (M)6,591.836,913.987,248.60
Equity Value (M)7,728.248,084.718,454.57
Shares Outstanding (M)54.3854.3854.38
Fair Value$142.11$148.67$155.47
Upside / Downside7.54%12.50%17.65%

High-Yield Dividend Screener

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