Investment Thesis
Alliant Energy demonstrates solid operational profitability with a 23.5% operating margin and stable revenue generation typical of regulated utilities. However, elevated leverage (1.49x debt-to-equity), weak liquidity (0.80x current ratio), and negative free cash flow (-$318M) raise concerns about financial flexibility and capital allocation efficiency despite strong interest coverage of 2.0x.
LNT Strengths
- Strong operating margin of 23.5% and net margin of 18.6% reflect efficient cost management
- Stable revenue base of $4.4B with consistent net income generation ($810M)
- Solid interest coverage ratio of 2.0x indicates adequate debt servicing capacity
- Operating cash flow of $1.2B demonstrates core business cash generation capability
LNT Risks
- Negative free cash flow of -$318M indicates capital expenditures ($1.5B) exceed operating cash generation, limiting dividend sustainability
- Elevated debt-to-equity ratio of 1.49x with $11B long-term debt creates refinancing risk in rising rate environment
- Current ratio of 0.80x signals potential liquidity constraints and limited near-term financial flexibility
- EPS growth of 16.7% appears driven by share reduction rather than operational earnings growth
Key Metrics to Watch
- Free cash flow trend and ability to fund capex without increased leverage
- Debt refinancing schedules and long-term debt maturity profile
- Operating cash flow sustainability relative to capital expenditure requirements
- Current ratio improvement and working capital management
- Organic revenue and net income growth excluding accounting changes
LNT Financial Metrics
LNT Profitability Ratios
LNT Balance Sheet & Liquidity
LNT 5-Year Financial Trend
5-Year Trend Summary: ALLIANT ENERGY CORP's revenue has grown significantly by 19% over the 5-year period, indicating strong business expansion. The most recent EPS of $2.78 reflects profitable operations.
LNT Growth Metrics (YoY)
LNT Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $1.1B | $540.0M | $1.09 |
| Q2 2025 | $894.0M | $245.0M | $0.34 |
| Q1 2025 | $1.0B | $158.0M | $0.62 |
| Q3 2024 | $1.1B | $540.0M | $1.02 |
| Q2 2024 | $894.0M | $245.0M | $0.34 |
| Q1 2024 | $1.0B | $158.0M | $0.62 |
| Q3 2023 | $1.1B | $579.0M | $0.90 |
| Q2 2023 | $912.0M | $323.0M | $0.63 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
LNT Capital Allocation
LNT SEC Filings
Access official SEC EDGAR filings for ALLIANT ENERGY CORP (CIK: 0000352541)