ALGONQUIN POWER & UTILITIES (AQN) Fundamental Analysis & Valuation

NYSE:AQN • CA0158571053

6.08 USD
-0.8 (-11.63%)
At close: Mar 6, 2026
6.18 USD
+0.1 (+1.64%)
After Hours: 3/6/2026, 8:04:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This AQN fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

3

Taking everything into account, AQN scores 3 out of 10 in our fundamental rating. AQN was compared to 26 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

3

1. AQN Profitability Analysis

1.1 Basic Checks

  • AQN had positive earnings in the past year.
  • AQN had a positive operating cash flow in the past year.
  • In multiple years AQN reported negative net income over the last 5 years.
  • AQN had a positive operating cash flow in 4 of the past 5 years.
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M -1B

1.2 Ratios

  • The Return On Assets of AQN (-0.27%) is worse than 92.31% of its industry peers.
  • The Return On Equity of AQN (-0.80%) is worse than 92.31% of its industry peers.
  • AQN has a worse Return On Invested Capital (3.16%) than 84.62% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for AQN is in line with the industry average of 3.76%.
  • The last Return On Invested Capital (3.16%) for AQN is above the 3 year average (2.36%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA -0.27%
ROE -0.8%
ROIC 3.16%
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 -20

1.3 Margins

  • With a Operating Margin value of 21.55%, AQN perfoms like the industry average, outperforming 53.85% of the companies in the same industry.
  • In the last couple of years the Operating Margin of AQN has declined.
  • AQN has a better Gross Margin (73.94%) than 76.92% of its industry peers.
  • AQN's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 21.55%
PM (TTM) N/A
GM 73.94%
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 60

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. AQN Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AQN is destroying value.
  • There is no outstanding debt for AQN. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
AQN Yearly Shares OutstandingAQN Yearly Shares OutstandingYearly Shares Outstanding 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

  • AQN has an Altman-Z score of 0.36. This is a bad value and indicates that AQN is not financially healthy and even has some risk of bankruptcy.
  • AQN has a Altman-Z score of 0.36. This is amonst the worse of the industry: AQN underperforms 96.15% of its industry peers.
  • A Debt/Equity ratio of 1.33 is on the high side and indicates that AQN has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 1.33, AQN is in the better half of the industry, outperforming 73.08% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.33
Debt/FCF N/A
Altman-Z 0.36
ROIC/WACC0.54
WACC5.84%
AQN Yearly LT Debt VS Equity VS FCFAQN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B

2.3 Liquidity

  • A Current Ratio of 1.23 indicates that AQN should not have too much problems paying its short term obligations.
  • With an excellent Current ratio value of 1.23, AQN belongs to the best of the industry, outperforming 88.46% of the companies in the same industry.
  • A Quick Ratio of 1.03 indicates that AQN should not have too much problems paying its short term obligations.
  • AQN's Quick ratio of 1.03 is amongst the best of the industry. AQN outperforms 88.46% of its industry peers.
Industry RankSector Rank
Current Ratio 1.23
Quick Ratio 1.03
AQN Yearly Current Assets VS Current LiabilitesAQN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. AQN Growth Analysis

3.1 Past

  • AQN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -29.79%.
  • The earnings per share for AQN have been decreasing by -10.38% on average. This is quite bad
  • Looking at the last year, AQN shows a very negative growth in Revenue. The Revenue has decreased by -23.92% in the last year.
  • The Revenue has been growing slightly by 7.38% on average over the past years.
EPS 1Y (TTM)-29.79%
EPS 3Y-19.53%
EPS 5Y-10.38%
EPS Q2Q%12.5%
Revenue 1Y (TTM)-23.92%
Revenue growth 3Y0.49%
Revenue growth 5Y7.38%
Sales Q2Q%1.66%

3.2 Future

  • AQN is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.09% yearly.
  • Based on estimates for the next years, AQN will show a small growth in Revenue. The Revenue will grow by 2.30% on average per year.
EPS Next Y-12.26%
EPS Next 2Y-0.48%
EPS Next 3Y6.43%
EPS Next 5Y4.09%
Revenue Next Year-9.8%
Revenue Next 2Y-3.22%
Revenue Next 3Y-0.62%
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.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
AQN Yearly Revenue VS EstimatesAQN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.2 0.4 0.6

More info and screens

Find the best growth stocksShow best growing peers

2

4. AQN Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 18.42 indicates a rather expensive valuation of AQN.
  • 69.23% of the companies in the same industry are cheaper than AQN, based on the Price/Earnings ratio.
  • Compared to an average S&P500 Price/Earnings ratio of 26.29, AQN is valued a bit cheaper.
  • AQN is valuated correctly with a Price/Forward Earnings ratio of 16.59.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of AQN indicates a slightly more expensive valuation: AQN is more expensive than 61.54% of the companies listed in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 24.57. AQN is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 18.42
Fwd PE 16.59
AQN Price Earnings VS Forward Price EarningsAQN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • AQN's Enterprise Value to EBITDA is on the same level as the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 12.79
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-0.48%
EPS Next 3Y6.43%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. AQN Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 3.86%, AQN has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 3.65, AQN pays a better dividend. On top of this AQN pays more dividend than 92.31% of the companies listed in the same industry.
  • AQN's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 3.86%

5.2 History

  • The dividend of AQN has a limited annual growth rate of 0.06%.
  • AQN has been paying a dividend for at least 10 years, so it has 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 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.
  • AQN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP-569.86%
EPS Next 2Y-0.48%
EPS Next 3Y6.43%
AQN Yearly Income VS Free CF VS DividendAQN Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M -1B

More info and screens

Find the best dividend stocksShow peers with best dividend

AQN Fundamentals: All Metrics, Ratios and Statistics

ALGONQUIN POWER & UTILITIES

NYSE:AQN (3/6/2026, 8:04:00 PM)

After market: 6.18 +0.1 (+1.64%)

6.08

-0.8 (-11.63%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryMulti-Utilities
Earnings (Last)03-06
Earnings (Next)05-07
Inst Owners74.49%
Inst Owner Change3.44%
Ins Owners0.03%
Ins Owner ChangeN/A
Market Cap4.67B
Revenue(TTM)2.39B
Net Income(TTM)-37.22M
Analysts71.67
Price Target4.99 (-17.93%)
Short Float %1.32%
Short Ratio2.13
Dividend
Industry RankSector Rank
Dividend Yield 3.86%
Yearly Dividend0.41
Dividend Growth(5Y)0.06%
DP-569.86%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)17.46%
Min EPS beat(2)-0.69%
Max EPS beat(2)35.61%
EPS beat(4)2
Avg EPS beat(4)12.84%
Min EPS beat(4)-25.74%
Max EPS beat(4)42.17%
EPS beat(8)4
Avg EPS beat(8)5.61%
EPS beat(12)5
Avg EPS beat(12)1.98%
EPS beat(16)6
Avg EPS beat(16)-0.66%
Revenue beat(2)1
Avg Revenue beat(2)-0.52%
Min Revenue beat(2)-1.85%
Max Revenue beat(2)0.82%
Revenue beat(4)2
Avg Revenue beat(4)-0.08%
Min Revenue beat(4)-4.61%
Max Revenue beat(4)5.31%
Revenue beat(8)3
Avg Revenue beat(8)-1.75%
Revenue beat(12)6
Avg Revenue beat(12)-0.49%
Revenue beat(16)9
Avg Revenue beat(16)0.59%
PT rev (1m)-0.97%
PT rev (3m)1.58%
EPS NQ rev (1m)-8.36%
EPS NQ rev (3m)-16.95%
EPS NY rev (1m)0%
EPS NY rev (3m)3.27%
Revenue NQ rev (1m)-2.06%
Revenue NQ rev (3m)-2.06%
Revenue NY rev (1m)-0.29%
Revenue NY rev (3m)1.17%
Valuation
Industry RankSector Rank
PE 18.42
Fwd PE 16.59
P/S 1.96
P/FCF N/A
P/OCF 10.03
P/B 1.01
P/tB 1.43
EV/EBITDA 12.79
EPS(TTM)0.33
EY5.43%
EPS(NY)0.37
Fwd EY6.03%
FCF(TTM)-0.47
FCFYN/A
OCF(TTM)0.61
OCFY9.97%
SpS3.11
BVpS6.04
TBVpS4.24
PEG (NY)N/A
PEG (5Y)N/A
Graham Number6.7
Profitability
Industry RankSector Rank
ROA -0.27%
ROE -0.8%
ROCE 4%
ROIC 3.16%
ROICexc 3.18%
ROICexgc 3.56%
OM 21.55%
PM (TTM) N/A
GM 73.94%
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%
ROICexgc growth 3Y4.3%
ROICexgc 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 1.33
Debt/FCF N/A
Debt/EBITDA 6.76
Cap/Depr 208.02%
Cap/Sales 34.55%
Interest Coverage 1.49
Cash Conversion 51.11%
Profit Quality N/A
Current Ratio 1.23
Quick Ratio 1.03
Altman-Z 0.36
F-Score4
WACC5.84%
ROIC/WACC0.54
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)-29.79%
EPS 3Y-19.53%
EPS 5Y-10.38%
EPS Q2Q%12.5%
EPS Next Y-12.26%
EPS Next 2Y-0.48%
EPS Next 3Y6.43%
EPS Next 5Y4.09%
Revenue 1Y (TTM)-23.92%
Revenue growth 3Y0.49%
Revenue growth 5Y7.38%
Sales Q2Q%1.66%
Revenue Next Year-9.8%
Revenue Next 2Y-3.22%
Revenue Next 3Y-0.62%
Revenue Next 5Y2.3%
EBIT growth 1Y-15.87%
EBIT growth 3Y4.45%
EBIT growth 5Y4.06%
EBIT Next Year45.9%
EBIT Next 3Y20.8%
EBIT Next 5YN/A
FCF growth 1Y-47.31%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-27.45%
OCF growth 3Y45.17%
OCF growth 5Y-4.65%

ALGONQUIN POWER & UTILITIES / AQN FAQ

What is the ChartMill fundamental rating of ALGONQUIN POWER & UTILITIES (AQN) stock?

ChartMill assigns a fundamental rating of 3 / 10 to AQN.


What is the valuation status for AQN stock?

ChartMill assigns a valuation rating of 2 / 10 to ALGONQUIN POWER & UTILITIES (AQN). This can be considered as Overvalued.


How profitable is ALGONQUIN POWER & UTILITIES (AQN) stock?

ALGONQUIN POWER & UTILITIES (AQN) has a profitability rating of 3 / 10.


What is the financial health of ALGONQUIN POWER & UTILITIES (AQN) stock?

The financial health rating of ALGONQUIN POWER & UTILITIES (AQN) is 3 / 10.


Is the dividend of ALGONQUIN POWER & UTILITIES sustainable?

The dividend rating of ALGONQUIN POWER & UTILITIES (AQN) is 6 / 10 and the dividend payout ratio is -569.86%.