ALGONQUIN POWER & UTILITIES (AQN) Fundamental Analysis & Valuation

NYSE:AQN • CA0158571053

6.17 USD
-0.02 (-0.32%)
At close: Mar 10, 2026
6.17 USD
0 (0%)
After Hours: 3/10/2026, 8:06:25 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

We assign a fundamental rating of 3 out of 10 to AQN. 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 has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

3

1. AQN Profitability Analysis

1.1 Basic Checks

  • In the past year AQN was profitable.
  • In the past year AQN had a positive cash flow from operations.
  • The reported net income has been mixed in the past 5 years: AQN reported negative net income in multiple 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

  • Looking at the Return On Assets, with a value of -0.27%, AQN is doing worse than 92.31% of the companies in the same industry.
  • AQN has a Return On Equity of -0.80%. This is amonst the worse of the industry: AQN underperforms 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 3.74%.
  • The 3 year average ROIC (2.36%) for AQN is below the current ROIC(3.16%), indicating increased profibility in the last year.
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

  • AQN has a Operating Margin (21.55%) which is comparable to the rest of the industry.
  • AQN's Operating Margin has declined in the last couple of years.
  • AQN has a Gross Margin of 73.94%. This is in the better half of the industry: AQN outperforms 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

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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.
  • AQN has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the 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 0.33. This is a bad value and indicates that AQN is not financially healthy and even has some risk of bankruptcy.
  • AQN's Altman-Z score of 0.33 is on the low side compared to the rest of the industry. AQN is outperformed by 96.15% of its industry peers.
  • AQN has a Debt/Equity ratio of 1.33. This is a high value indicating a heavy dependency on external financing.
  • With a decent Debt to Equity ratio value of 1.33, AQN is doing good in 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 0.33
ROIC/WACC0.54
WACC5.86%
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.
  • AQN has a Current ratio of 1.23. This is amongst the best in the industry. AQN outperforms 88.46% of its industry peers.
  • AQN has a Quick Ratio of 1.03. This is a normal value and indicates that AQN is financially healthy and should not expect problems in meeting 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

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

2

3. AQN Growth Analysis

3.1 Past

  • The earnings per share for AQN have decreased strongly by -10.81% in the last year.
  • The earnings per share for AQN have been decreasing by -12.41% on average. This is quite bad
EPS 1Y (TTM)-10.81%
EPS 3Y-22.17%
EPS 5Y-12.41%
EPS Q2Q%0%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%7.85%

3.2 Future

  • AQN is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.59% yearly.
  • AQN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.69% yearly.
EPS Next Y10.95%
EPS Next 2Y16.42%
EPS Next 3Y9.59%
EPS Next 5YN/A
Revenue Next Year3.84%
Revenue Next 2Y4.3%
Revenue Next 3Y6.69%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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

  • Based on the Price/Earnings ratio of 18.70, the valuation of AQN can be described as rather expensive.
  • Compared to the rest of the industry, the Price/Earnings ratio of AQN is on the same level as its industry peers.
  • AQN's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.25.
  • AQN is valuated correctly with a Price/Forward Earnings ratio of 16.85.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of AQN is on the same level as its industry peers.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.39, AQN is valued a bit cheaper.
Industry RankSector Rank
PE 18.7
Fwd PE 16.85
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 12.21
AQN Per share dataAQN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.71
PEG (5Y)N/A
EPS Next 2Y16.42%
EPS Next 3Y9.59%

More info and screens

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

6

5. AQN Dividend Analysis

5.1 Amount

  • AQN has a Yearly Dividend Yield of 6.55%, which is a nice return.
  • AQN's Dividend Yield is rather good when compared to the industry average which is at 4.01. AQN pays more dividend than 96.15% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.82, AQN pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.55%

5.2 History

  • The dividend of AQN has a limited annual growth rate of 0.06%.
  • AQN has paid a dividend for at least 10 years, which is 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.
  • The dividend of AQN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP-569.86%
EPS Next 2Y16.42%
EPS Next 3Y9.59%
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

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AQN Fundamentals: All Metrics, Ratios and Statistics

ALGONQUIN POWER & UTILITIES

NYSE:AQN (3/10/2026, 8:06:25 PM)

After market: 6.17 0 (0%)

6.17

-0.02 (-0.32%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryMulti-Utilities
Earnings (Last)03-06
Earnings (Next)05-07
Inst Owners74.49%
Inst Owner Change3.29%
Ins Owners0.03%
Ins Owner ChangeN/A
Market Cap4.74B
Revenue(TTM)N/A
Net Income(TTM)-37.22M
Analysts71.67
Price Target4.99 (-19.12%)
Short Float %1.32%
Short Ratio2.13
Dividend
Industry RankSector Rank
Dividend Yield 6.55%
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)-3.23%
PT rev (3m)-0.34%
EPS NQ rev (1m)-1.58%
EPS NQ rev (3m)-16.95%
EPS NY rev (1m)-0.83%
EPS NY rev (3m)-0.83%
Revenue NQ rev (1m)-2.06%
Revenue NQ rev (3m)-2.06%
Revenue NY rev (1m)-0.29%
Revenue NY rev (3m)-0.29%
Valuation
Industry RankSector Rank
PE 18.7
Fwd PE 16.85
P/S 1.99
P/FCF N/A
P/OCF 10.18
P/B 1.02
P/tB 1.45
EV/EBITDA 12.21
EPS(TTM)0.33
EY5.35%
EPS(NY)0.37
Fwd EY5.93%
FCF(TTM)-0.47
FCFYN/A
OCF(TTM)0.61
OCFY9.83%
SpS3.11
BVpS6.04
TBVpS4.24
PEG (NY)1.71
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 0.33
F-Score4
WACC5.86%
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)-10.81%
EPS 3Y-22.17%
EPS 5Y-12.41%
EPS Q2Q%0%
EPS Next Y10.95%
EPS Next 2Y16.42%
EPS Next 3Y9.59%
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%7.85%
Revenue Next Year3.84%
Revenue Next 2Y4.3%
Revenue Next 3Y6.69%
Revenue Next 5YN/A
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%.