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ALE - ALLETE, Inc.

NYSE -> Utilities -> Utilities—Diversified
Duluth, United States
Type: Equity

ALE price evolution
ALE
(in millions $) 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023
Current assets
Cash $71.9 $125.5 $47.9 $29.9
Short term investments
Net receivables $137.2 $119.6 $123.2 $120.3
Inventory $175.4 $180.3 $194.3 $346.9
Total current assets $468.1 $503.2 $446.2 $569.7
Long term investments $331.2 $329.7 $327.5 $323.9
Property, plant & equipment $5013.4 $4996.8 $4973.9 $4979.3
Goodwill & intangible assets $155.4 $155.5 $155.5 $155.5
Total noncurrent assets $6188.3 $6141.6 $6121.7 $6134.8
Total investments $331.2 $329.7 $327.5 $323.9
Total assets $6656.4 $6644.8 $6567.9 $6704.5
Current liabilities
Accounts payable $102.2 $112.3 $89.3 $84.9
Deferred revenue
Short long term debt $111.4 $111 $106.7 $176.4
Total current liabilities $377.6 $413.5 $380.3 $464.4
Long term debt $1679.9 $1686.1 $1685.9 $1755.5
Total noncurrent liabilities $2871.7 $2834.6 $2819.1 $2882.4
Total debt $1791.3 $1797.1 $1792.6 $1931.9
Total liabilities $3249.3 $3248.1 $3199.4 $3346.8
Shareholders' equity
Retained earnings $1026.4 $1013.9 $966.9 $954.2
Other shareholder equity -$20.5 -$24.5 -$24.4 -$24.3
Total shareholder equity $2809.6 $2786.6 $2734.1 $2715.5
(in millions $) 31 Dec 2023 31 Jan 2023 31 Dec 2021 31 Dec 2020
Current assets
Cash $71.9 $36.4 $45.1 $44.3
Short term investments
Net receivables $137.2 $137.9 $123.7 $111.9
Inventory $175.4 $455.9 $97.7 $74.2
Total current assets $468.1 $718 $291.3 $254.9
Long term investments $331.2 $322.7 $318 $301.2
Property, plant & equipment $5013.4 $5035.8 $5100.2 $4840.8
Goodwill & intangible assets $155.4 $155.6
Total noncurrent assets $6188.3 $6127.6 $6143.7 $5829.7
Total investments $331.2 $322.7 $318 $301.2
Total assets $6656.4 $6845.6 $6435 $6084.6
Current liabilities
Accounts payable $102.2 $103 $111 $110
Deferred revenue
Short long term debt $111.4 $272.6 $214.2 $203.7
Total current liabilities $377.6 $716.2 $543.4 $459.6
Long term debt $1679.9 $1648.2 $1763.2 $1593.2
Total noncurrent liabilities $2871.7 $2781.1 $2945.3 $2824.8
Total debt $1791.3 $1920.8 $1977.4 $1796.9
Total liabilities $3249.3 $4153.7 $3488.7 $3284.4
Shareholders' equity
Retained earnings $1026.4 $934.8 $900.2 $864.8
Other shareholder equity -$20.5 -$24.4 -$23.8 -$31.1
Total shareholder equity $2809.6 $2691.9 $2413.1 $2294.6
(in millions $) 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023
Revenue
Total revenue $402.7 $378.8 $533.4 $564.9
Cost of revenue $296 $279.7 $417.1 $454.3
Gross Profit $106.7 $99.1 $116.3 $110.6
Operating activities
Research & development
Selling, general & administrative
Total operating expenses $63.6 $63.1 $62.8 $62.3
Operating income $43.1 $36 $53.5 $48.3
Income from continuing operations
EBIT $78.9 $125.7 $72.2 $79
Income tax expense $7.5 $19.3 -$0.4 $1.5
Interest expense $19.9 $20.5 $21.1 $19.3
Net income
Net income $51.5 $85.9 $51.5 $58.2
Income (for common shares) $51.5 $85.9 $51.5 $58.2
(in millions $) 31 Dec 2023 31 Dec 2022 31 Dec 2021 31 Dec 2020
Revenue
Total revenue $1879.8 $1570.7 $1419.2 $1169.1
Cost of revenue $1447.1 $1194.3 $1036.2 $800.4
Gross Profit $432.7 $376.4 $383 $368.7
Operating activities
Research & development
Selling, general & administrative
Total operating expenses $251.8 $242.2 $231.7 $217.8
Operating income $180.9 $134.2 $151.3 $150.9
Income from continuing operations
EBIT $355.8 $233.3 $211.4 $200.3
Income tax expense $27.9 -$31.2 -$26.9 -$39.5
Interest expense $80.8 $75.2 $69.1 $65.6
Net income
Net income $247.1 $189.3 $169.2 $174.2
Income (for common shares) $247.1 $189.3 $169.2 $174.2
(in millions $) 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023
Net income $51.5 $85.9 $51.5 $58.2
Operating activities
Depreciation $63.5 $63.2 $62.7 $62.3
Business acquisitions & disposals
Stock-based compensation $3 $1.9 $1.6 $0.8
Total cash flows from operations $65.3 $188.4 $239.2 $92.4
Investing activities
Capital expenditures -$87.1 -$63.6 -$50.5 -$70
Investments -$1.5 -$2.4 -$3.7 -$0.8
Total cash flows from investing -$83 -$69.3 -$56.6 -$74.7
Financing activities
Dividends paid -$39 -$38.9 -$38.8 -$38.8
Sale and purchase of stock $3.5 $3.7 $4.4 $3.3
Net borrowings -$6.1 $4.2 -$138.5 $10.7
Total cash flows from financing -$34.1 -$39 -$171.1 -$18.3
Effect of exchange rate
Change in cash and equivalents -$51.8 $80.1 $11.5 -$0.6
(in millions $) 31 Dec 2023 31 Dec 2022 31 Dec 2021 31 Dec 2020
Net income $247.1 $189.3 $169.2 $174.2
Operating activities
Depreciation $251.7 $242 $231.6 $217.7
Business acquisitions & disposals -$155
Stock-based compensation $7.3 $4.9 $5.9 $6.1
Total cash flows from operations $585.3 $221.3 $263.5 $299.8
Investing activities
Capital expenditures -$271.2 -$220.5 -$473.3 -$717.8
Investments -$8.4 -$6.1 -$14.8 -$95
Total cash flows from investing -$283.6 -$384 -$485.2 -$812.8
Financing activities
Dividends paid -$155.5 -$145.9 -$131.9 -$128.2
Sale and purchase of stock $14.9 $248 $69.9 $18.1
Net borrowings -$129.7 -$91.6 $180.1 $183.8
Total cash flows from financing -$262.5 $155.2 $204.2 $485.7
Effect of exchange rate
Change in cash and equivalents $39.2 -$7.5 -$17.5 -$27.3
Fundamentals
Market cap $3.44B
Enterprise value $5.15B
Shares outstanding 57.60M
Revenue $1.88B
EBITDA $607.50M
EBIT $355.80M
Net Income $247.10M
Revenue Q/Q -5.43%
Revenue Y/Y 19.68%
P/E ratio 13.90
EV/Sales 2.74
EV/EBITDA 8.49
EV/EBIT 14.49
P/S ratio 1.83
P/B ratio 1.21
Book/Share 49.13
Cash/Share 1.25
EPS $4.29
ROA 3.72%
ROE 8.95%
Debt/Equity 1.16
Net debt/EBITDA 5.23
Current ratio 1.24
Quick ratio 0.78