Alliant Energy Corporation (LNT) — Fundamental Analysis & Key Financial Ratios

Kaplio's reading: Alliant Energy Corporation

Updated on October 3, 2026 · accounts published on July 30, 2026

Reading of October 3, 2026: A steady regulated utility with record margins and a stretched balance sheet

Alliant Energy trades at a P/E of 20.4, 8 % below its ten-year median of 22.2, while EPS grew 17 % over the last 12 months.

• Is Alliant Energy expensive or cheap? At a P/E of 20.4, Alliant Energy trades 8 % below its ten-year median of 22.2 but 3 % above its sector median.
• How is the business doing? The fiscal 2025 operating margin of 23.5 % was the highest in 12 years, above the 20.5 % average for 2014-2025.
• How strong is the balance sheet? Net debt was 5.8× EBITDA in fiscal 2025 and interest coverage just 2.0×, below the 3.0× a healthy utility clears.
• What to expect from the next earnings? Analysts expect EPS of $1.21 when Alliant Energy reports on November 5, 2026; it beat estimates in 7 of the last 8 quarters.
• Is the dividend sustainable with this debt? The fiscal 2025 payout of 64 % stays under the 80 % ceiling, and the dividend has risen for 11 straight years.

Is Alliant Energy expensive or cheap?

Over the last 12 months Alliant Energy trades at a P/E of 20.4, 8 % below its ten-year median of 22.2. Its decade range runs from 17.1 to 27.1, and it has traded cheaper than today only 22 % of the time. Against other utilities the picture is less favourable: the sector median P/E is 19.7, so Alliant Energy carries a 3 % premium. EV/EBITDA of 13.9× and P/B of 2.2× fit a regulated business. The shares sit 19 % below their 52-week high of $78.03 and are down 4 % over 12 months. The market has cooled on the stock even as earnings kept rising.

How is the business doing?

Revenue grew 10 % and EPS 17 % over the last 12 months. That is well ahead of the 4.6 % annual EPS growth Alliant Energy delivered from fiscal 2020 to 2025, which was already inside the 4 % to 7 % range considered healthy for utilities. The operating margin is 22.1 % over the last 12 months, above its 20.5 % average for fiscal 2014-2025. Returns are modest, as you would expect from a regulated utility. ROE of 11.0 % sits within the 8 % to 12 % regulated band, and ROIC of 4.0 % is in line with the 4.1 % sector median. ROIC has not topped 10 % in any of the last ten fiscal years.

How strong is the balance sheet?

Debt is the weak spot. In fiscal 2025 net debt came to $47.87 per share, equal to 74 % of the current share price, and net debt to EBITDA of 5.8× sits just above the 5.5× ceiling considered healthy for utilities. Operating profit covered interest only 2.0 times in fiscal 2025, which misses the 3.0× benchmark. Debt to equity of 1.61 and a current ratio of 0.47 over the last 12 months confirm a business funded heavily with borrowed money and little short-term cushion. A Piotroski score of 6 out of 9 points to fundamentals that are sound overall, but leverage leaves less room for error if borrowing costs rise.

What to expect from the next earnings?

Alliant Energy reports on November 5, 2026, and analysts expect EPS of $1.21 for the quarter. The track record supports the company: it beat EPS estimates in 7 of the last 8 quarters, and on July 30, 2026 it reported $0.65 against $0.58 expected, a 12 % beat. Expectations for the full year are stable. The 2026 EPS consensus of $3.42 has not moved in the last 18 days, and revenue estimates have barely changed either. Of the 23 analysts covering the stock, 12 rate it a buy, 11 a hold and none a sell. That leaves little room for an upside surprise to change opinions dramatically.

Is the dividend sustainable with this debt?

Utilities are slow-growing, regulated businesses with reliable dividends, almost bonds on steroids. That is why investors judge them on debt, interest rates and payout consistency more than on growth or ROIC. On the dividend itself, Alliant Energy passes. The payout was 64 % of earnings in fiscal 2025, below the 80 % threshold. The dividend grew 6.3 % a year from 2015 to 2025, above the 4 % mark considered healthy, and has increased for 11 consecutive fiscal years. The yield is 3.3 % over the last 12 months. The risk lies in the debt: with interest coverage at only 2.0×, higher rates would squeeze the earnings that pay the dividend.

How this was prepared: the data comes from companies' official filings, collected by a professional provider, and from Kaplio's analysis engine (trailing-12-month ratios, 10 years of history and sector medians computed across US-listed companies). The text is written from that data alone, every figure is checked against it before publication, and it is reviewed when the company reports results. This is not investment advice.