Algonquin Power & Utilities Corp
AQN—
Build a strategy around AQN
Algonquin Power & Utilities Corp AI Insights
Informational only. Not investment advice.Snapshot
- FCF TTM is -359M despite 466M operating cash flow - capex of 825M (35% of revenue) consuming all cash generation[Free Cash Flow TTM]
- Debt/equity at 1.44x with interest expense of 307M TTM consuming 59% of EBIT (522M) - thin coverage[Debt to Equity]
- Goodwill of 1.3B is 29% of equity - impairment risk given negative net income of -27M TTM[Goodwill]
Watch Triggers
- Free Cash Flow TTM: Turns positive (>0) — Would signal capex cycle ending and dividend becoming self-funded
- Interest Expense TTM: Exceeds 350M or >70% of EBIT — Would indicate debt service crowding out reinvestment capacity
- Dividends Paid Per Share TTM: Cut below 0.20 — Dividend cut would signal management acknowledging FCF constraints
Bull Case
Gross margin of 75% TTM vs industry median 45% reflects regulated utility pricing power with stable revenue base of 2.4B
Gross Margin TTMTotal Revenue TTM
Operating margin 21.6% TTM vs industry median -10.5% shows cost discipline; once capex cycle ends, FCF could flip positive
Operating Margin TTMCapital Expenditure TTM
Bear Case
Net debt of 6.4B exceeds market cap (4.8B) by 33%; interest expense at 307M TTM leaves minimal cushion if rates rise
Net DebtInterest Expense TTMEnterprise Value
ROIC of -0.2% TTM and ROE of -0.6% TTM indicate capital destruction; 10.9B invested capital generating losses
ROIC TTMROE TTMInvested Capital
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
35%
Leverage AQN's top insights and create a custom strategy based on them in seconds. Our AI editor does it all — in one click.
Forward Thesis
Dividend sustainability at risk - 5yr payout ratio of 207% requires capex reduction or asset sales
1-3yhigh
- Negative FCF of -359M cannot fund 51M annual dividends
- Debt of 6.4B limits refinancing flexibility
- Capex intensity must decline from 35% of revenue
Dividend payout ratio 5yr avg: 207%FCF TTM: -359M vs dividends paid: 51MNet debt: 6.4B vs market cap: 4.8B
Valuation Context
Caveats
Public Strategies Rankings
See how Algonquin Power & Utilities Corp ranks across different investment strategies.
Leverage AQN's top insights and create a custom strategy in seconds. Our AI editor does it all — in one click.
AQN Fundamentals
Public Administration → Administration of Economic Programs
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$4.82B | — | ||
$11.19B | — | ||
0.00 | — | ||
$2.39B | -8.7% | — | |
$-0.03 | -77.5% | — | |
21.6% | +3.5% | — | |
-1.11% | +37.4% | — | |
$-359.3M | — | ||
-0.58% | +20.9% | — | |
Beta 5Y (Monthly) | unknown | — |
AQN Dividend History
59 dividends
2026
$0.065003/31/26$0.0650
2025
$0.335812/31/25$0.0918
09/29/25$0.0893
06/30/25$0.0897
03/31/25$0.0650
2024
$0.410412/31/24$0.0901
09/27/24$0.0650
06/28/24$0.1085
03/27/24$0.1468
2023
$0.475212/28/23$0.1497
09/27/23$0.1085
06/29/23$0.1085
03/30/23$0.1085
2022
$0.713012/29/22$0.1808
09/28/22$0.1808
06/29/22$0.1808
03/30/22$0.1706
2021
$0.666912/30/21$0.1706
09/28/21$0.1706
06/29/21$0.1706
03/30/21$0.1551
2020
$0.606312/30/20$0.1551
09/29/20$0.1551
06/29/20$0.1551
03/30/20$0.1410
2019
$0.551212/30/19$0.1410
09/27/19$0.1410
06/27/19$0.1410
03/28/19$0.1282
2018
$0.501112/28/18$0.1282
09/27/18$0.1282
06/28/18$0.1282
03/28/18$0.1165
2017
$0.466012/28/17$0.1165
09/28/17$0.1165
06/28/17$0.1165
03/29/17$0.1165
2016
$0.846712/28/16$0.1059
09/28/16$0.2436
06/28/16$0.2723
03/29/16$0.2249
2015
$0.862912/29/15$0.2230
09/28/15$0.2252
06/26/15$0.2163
03/27/15$0.1985
2014
$0.555212/29/14$0.1890
09/26/14$0.1962
06/26/14$0.0850
03/27/14$0.0850
2013
$0.332512/27/13$0.0850
09/26/13$0.0850
06/26/13$0.0850
03/26/13$0.0775
2012
$0.077512/27/12$0.0775
2011
$0.270012/28/11$0.0700
09/28/11$0.0700
06/28/11$0.0650
03/29/11$0.0650
2010
$0.060012/29/10$0.0600
AQN Stock Splits
No stock splits
AQN SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/07/25 | 09/30/25 | 6-K | |
08/08/25 | 06/30/25 | 6-K | |
05/09/25 | 03/31/25 | 6-K | |
03/07/25 | 12/31/24 | Unknown | |
11/07/24 | 09/30/24 | 6-K | |
08/09/24 | 06/30/24 | 6-K | |
05/10/24 | 03/31/24 | 6-K | |
03/08/24 | 12/31/23 | 40-F | |
11/13/23 | 09/30/23 | 6-K | |
08/10/23 | 06/30/23 | 6-K | |
05/11/23 | 03/31/23 | 6-K | |
03/17/23 | 12/31/22 | 40-F | |
11/14/22 | 09/30/22 | 6-K | |
08/12/22 | 06/30/22 | 6-K | |
05/13/22 | 03/31/22 | 6-K | |
03/04/22 | 12/31/21 | 40-F | |
11/12/21 | 09/30/21 | 6-K | |
08/13/21 | 06/30/21 | 6-K | |
05/07/21 | 03/31/21 | 6-K | |
03/05/21 | 12/31/20 | 40-F | |
11/13/20 | 09/30/20 | 6-K | |
08/14/20 | 06/30/20 | 6-K | |
05/08/20 | 03/31/20 | 6-K | |
02/28/20 | 12/31/19 | 40-F | |
11/08/19 | 09/30/19 | 6-K | |
08/09/19 | 06/30/19 | 6-K | |
05/10/19 | 03/31/19 | 6-K | |
02/28/19 | 12/31/18 | 40-F | |
11/09/18 | 09/30/18 | 6-K | |
08/10/18 | 06/30/18 | 6-K | |
05/10/18 | 03/31/18 | 6-K | |
03/08/18 | 12/31/17 | 40-F | |
11/14/17 | 09/30/17 | 6-K | |
08/11/17 | 06/30/17 | 6-K | |
05/12/17 | 03/31/17 | 6-K | |
03/10/17 | 12/31/16 | 40-F | |
11/14/16 | 09/30/16 | 6-K | |
08/12/16 | 06/30/16 | 6-K | |
05/13/16 | 03/31/16 | 6-K | |
03/14/16 | 12/31/15 | 40-F | |
11/06/15 | 09/30/15 | 6-K | |
08/14/15 | 06/30/15 | 6-K | |
05/08/15 | 03/31/15 | 6-K | |
03/16/15 | 12/31/14 | 40-F | |
11/14/14 | 09/30/14 | 6-K | |
08/14/14 | 06/30/14 | 6-K | |
05/13/14 | 03/31/14 | 6-K | |
03/14/14 | 12/31/13 | 40-F | |
11/14/13 | 09/30/13 | Quarterly | -- |
08/15/13 | 06/30/13 | Quarterly | -- |
05/10/13 | 03/31/13 | Quarterly | -- |
03/18/13 | 12/31/12 | 40-F | |
11/14/12 | 09/30/12 | Quarterly | -- |
08/10/12 | 06/30/12 | Quarterly | -- |
05/11/12 | 03/31/12 | Quarterly | -- |
03/21/12 | 12/31/11 | 40-F | |
11/14/11 | 09/30/11 | Quarterly | -- |
08/12/11 | 06/30/11 | Quarterly | -- |
05/13/11 | 03/31/11 | Quarterly | -- |
03/15/11 | 12/31/10 | 40-F | |
11/11/10 | 09/30/10 | Quarterly | -- |
08/12/10 | 06/30/10 | Quarterly | -- |
05/07/10 | 03/31/10 | Quarterly | -- |
03/31/10 | 12/31/09 | 40-F | |
11/05/09 | 09/30/09 | Quarterly | -- |
08/14/09 | 06/30/09 | Quarterly | -- |
05/07/09 | 03/31/09 | Quarterly | -- |
03/06/09 | 12/31/08 | Annual | -- |
11/07/08 | 09/30/08 | Quarterly | -- |
08/14/08 | 06/30/08 | Quarterly | -- |
03/31/08 | 03/31/08 | Unknown | -- |
12/31/07 | 12/31/07 | Annual | -- |
09/30/07 | 09/30/07 | Unknown | -- |
06/30/07 | 06/30/07 | Unknown | -- |
03/31/07 | 03/31/07 | Unknown | -- |
12/31/06 | 12/31/06 | Annual | -- |
09/30/06 | 09/30/06 | Unknown | -- |
06/30/06 | 06/30/06 | Unknown | -- |
03/31/06 | 03/31/06 | Unknown | -- |
12/31/05 | 12/31/05 | Annual | -- |
09/30/05 | 09/30/05 | Unknown | -- |
06/30/05 | 06/30/05 | Unknown | -- |
03/31/05 | 03/31/05 | Unknown | -- |
12/31/04 | 12/31/04 | Annual | -- |
09/30/04 | 09/30/04 | Unknown | -- |
06/30/04 | 06/30/04 | Unknown | -- |
03/31/04 | 03/31/04 | Unknown | -- |
12/31/03 | 12/31/03 | Annual | -- |
09/30/03 | 09/30/03 | Unknown | -- |
06/30/03 | 06/30/03 | Unknown | -- |
03/31/03 | 03/31/03 | Unknown | -- |
12/31/02 | 12/31/02 | Annual | -- |
09/30/02 | 09/30/02 | Unknown | -- |
06/30/02 | 06/30/02 | Unknown | -- |
03/31/02 | 03/31/02 | Unknown | -- |
12/31/01 | 12/31/01 | Annual | -- |
09/30/01 | 09/30/01 | Unknown | -- |
06/30/01 | 06/30/01 | Unknown | -- |
03/31/01 | 03/31/01 | Unknown | -- |
12/31/00 | 12/31/00 | Annual | -- |
09/30/00 | 09/30/00 | Unknown | -- |
06/30/00 | 06/30/00 | Unknown | -- |
03/31/00 | 03/31/00 | Unknown | -- |