Alliant Energy (LNT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Alliant Energy

NasdaqGS•Utilities•Utilities - Regulated Electric

$72.50+0.85(0.01%)Market open

Market Cap

$18.71B

P/E

20.0x

P/S

4.2x

P/B

2.4x

Alliant Energy Corporation operates as a utility holding company that provides regulated electric and natural gas services in the United States. It operates through IPL and WPL segments. The company's IPL segment engages primarily in the generation and distribution of electricity and the distribution and transportation of natural gas to retail customers in select markets in Iowa. This segment also sells electricity to wholesale customers in Minnesota, Illinois and Iowa; and generates and distributes steam for two customers in Cedar Rapids, Iowa. Its WPL segment generates and distributes electricity, and distributes and transports natural gas to retail customers in select markets in Wisconsin; and sells electricity to wholesale customers in Wisconsin. It serves retail customers in the farming, agriculture, industrial manufacturing, chemical, packaging, and food industries, as well as wholesale customers comprising municipalities and rural electric cooperatives. In addition, the company owns and operates a short-line rail freight service in Iowa; a Mississippi River barge, rail, and truck freight terminal in Illinois; freight brokerage services; wind turbine blade recycling services; and a rail-served warehouse in Iowa. Further, it holds interests in a natural gas-fired electric generating unit near Sheboygan Falls, Wisconsin; and a wind farm located in Oklahoma. The company was formerly known as Interstate Energy Corp. and changed its name to Alliant Energy Corporation in May 1999. Alliant Energy Corporation is headquartered in Madison, Wisconsin.

How this company scores

AverageMetricSide Score: 41/100

Strongest: Profitability (17/25); weakest: Cash & Earnings Quality (1/25).

Profitability17/25

Growth12/25

Balance Sheet & Red Flags11/25

Cash & Earnings Quality1/25

Strengths

Strong marginsConsistent growthImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 20.0x5y range 14.3x – 45.3x

Currently near its 20-quarter median.

P/S · 4.2x5y range 3.0x – 4.5x

Currently near its 20-quarter median.

P/B · 2.4x5y range 1.8x – 2.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Watch

Operating margins declined 8.9% — watch for continued compression, which may signal competitive or cost pressure.

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $18.71B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $4.50B
Q. Revenue: $1.28B
TTM EBITDA: $1.90B
TTM Op. Income: $1.02B
Q. Op. Income: $389.00M
TTM Net Income: $934.00M
Q. Net Income: $398.00M
EPS: $1.53
Shares Out.: $259.30M

$4.50B in TTM revenue grew 5.4% YoY, reaching $1.28B last quarter. TTM EBITDA of $1.90B and TTM operating income of $1.02B show growth is flowing through to the bottom line. TTM net income of $934.00M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 86.3%
EBITDA Margin: 47.6%
Op. Margin: 30.3%
Net Margin: 31.0%

Op. margin of 30.3% is up 1.4% YoY — cost efficiency is improving. Net margin at 31.0% and gross margin of 86.3% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 5% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 20.0x
P/S Ratio: 4.2x
P/B Ratio: 2.4x

At 20.0x P/E, the stock trades within typical market levels. P/S of 4.2x and P/B of 2.4x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 40% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $25.95B
Cash: $26.00M
Long-Term Debt: $11.09B
Book Value: $7.81B
D/E Ratio: 1.4
Debt/EBITDA: 18.1

With $25.95B in assets and $11.09B in long-term debt, D/E is 1.4and book value is $7.81B — moderate leverage. Over the past year, debt/equity is down 3% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $428.00M
TTM Free Cash Flow: $-1.25B
FCF Margin: -27.9%
FCF / Net Income: -1.3

TTM FCF of $-1.25B on $428.00M in operating cash flow. The FCF / Net Income ratio of -1.3x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.