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Alliant Energy Corporation (LNT)

NASDAQ / Utilities / Regulated Electric

Share price

67.51 USD Market dataClose of Oct 14, 2026

Market capitalisation

17.44B USD Market dataClose of Oct 14, 2026
Market data
Oct 14, 2026
Filed accounts
FY2025, filed Feb 20, 2026
Ratios computed
Oct 14, 2026
Filed years
17, FY2008 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on equity

11.0% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

21.43x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Dividend yield

3.1% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2016 Revenue: 3.32B USDFY2016 Net income: 381.7M USDFY2017 Revenue: 3.38B USDFY2017 Net income: 467.5M USDFY2018 Revenue: 3.53B USDFY2018 Net income: 522.0M USDFY2019 Revenue: 3.65B USDFY2019 Net income: 567.0M USDFY2020 Revenue: 3.42B USDFY2020 Net income: 624.0M USDFY2021 Revenue: 3.67B USDFY2021 Net income: 674.0M USDFY2022 Revenue: 4.21B USDFY2022 Net income: 686.0M USDFY2023 Revenue: 4.03B USDFY2023 Net income: 703.0M USDFY2024 Revenue: 3.98B USDFY2024 Net income: 690.0M USDFY2025 Revenue: 4.36B USDFY2025 Net income: 810.0M USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
1 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 21.43x at the close of 2026-10-14 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 15.00x and 25.00x.

Today, against the Regulated Electric industry (36 companies), 21.43x sits at the 60th percentile; the middle half of that group runs from 18.21x to 22.76x.

Is it good

Return on equity was 11.0% in FY2025, in the band labelled "Ordinary" (8.0% to 15.0%), on lines anchored on Damodaran's cost-of-capital data.

Today, against the Regulated Electric industry (37 companies), 11.0% sits at the 80th percentile; the middle half of that group runs from 7.9% to 10.5%.

Is it safe

Interest coverage was 2.00x in FY2025, in the band labelled "Speculative grade" (1.50x to 3.00x), on lines anchored on Damodaran's interest-coverage table.

Year by year against peers
Whether Alliant Energy Corporation's return on equity stayed above the median of the Regulated Electric industry, year by year. (FY2017 to FY2025, 9 fiscal years of Alliant Energy Corporation with a comparable figure)
The direction
Which way Alliant Energy Corporation's return on equity has moved, and how steadily. (FY2016 to FY2025, 10 filed years of Alliant Energy Corporation)
What could explain it
What in Alliant Energy Corporation's filed statements could explain the movements. (6 readings drawn from the statement lines Alliant Energy Corporation filed)
What to check next
What to check next on Alliant Energy Corporation, and where in its filings. (6 questions for Alliant Energy Corporation)
In one paragraph
One paragraph on Alliant Energy Corporation's returns, cash, balance sheet and price. (13 of sixteen figures read for Alliant Energy Corporation)

These are LNT’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research LNTPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Feb 20, 2026, accession 0000352541-26-000007.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Alliant Energy Corporation: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax
Why n/a

The filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.

n/a ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Return on equity11.0% ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Return on capital employed, pre-tax4.5% ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Return on assets3.2% ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Gross margin85.7% ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Operating margin23.5% ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Net margin18.6% ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
LNT 18.6%
EIX 23.1%AEE 16.6%PEG 17.4%PPL 13.1%WEC 15.9%
13.1%23.1%
Net margin: LNT against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Alliant Energy Corporation: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity1.68 ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Current ratio0.80 ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Quick ratio0.80 ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Interest coverage2.00x ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Altman Z-score1.12 ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Net debt11.77B ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Total assets 24.99BTotal liabilities 17.66BShareholders' equity 7.33BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Alliant Energy Corporation owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Feb 20, 2026, 0000352541-26-000007).

Alliant Energy Corporation: balance sheet position
Total assets24.99B FiledFY2025 10-K, filed Feb 20, 2026
Total liabilities17.66B FiledFY2025 10-K, filed Feb 20, 2026
Shareholders' equity7.33B FiledFY2025 10-K, filed Feb 20, 2026
Cash556.0M FiledFY2025 10-K, filed Feb 20, 2026
Total debt12.33B FiledFY2025 10-K, filed Feb 20, 2026
Net debt11.77B
Current ratio0.80
Debt to equity1.68

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Alliant Energy Corporation: what the market charges, each with its source
FigureValue, source and document
Price to earnings21.43x ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
P/E on trailing twelve months20.90x ComputedClose of Oct 14, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book2.37x ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Price to sales3.99x ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Enterprise value to EBIT28.46x ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Enterprise value to EBITDA15.59x ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Price to earnings over growth4.30 ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Diluted earnings per share3.14 USD FiledFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Graham number44.90 USD ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007

We publish no fair value or price target of our own. Value LNT on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Alliant Energy Corporation today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Alliant Energy Corporation: valuation
Share price67.51 USD
Market capitalisation17.44B USD
Enterprise value to EBITDA15.59x
Graham number44.90 USD
Diluted earnings per share, FY20253.14 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Oct 3, 2016: low 17.05x, median 21.45x, high 26.86x, latest 20.90x. 2,520 trading days with a meaningful ratio. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Alliant Energy Corporation

  1. Edison International (EIX)Market cap 21.33B USD
  2. Ameren Corporation (AEE)Market cap 28.94B USD
  3. Public Service Enterprise Group Incorporated (PEG)Market cap 35.15B USD
  4. PPL Corporation (PPL)Market cap 26.15B USD
  5. WEC Energy Group, Inc. (WEC)Market cap 34.77B USD

Same industry (Regulated Electric) and size band (Large, 10B to 200B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Alliant Energy Corporation: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Free cash flow-1.11B USD ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Free cash flow margin
Why n/a

No free cash flow, and no operating cash flow and capital expenditure pair, is filed for this year.

n/a ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Dividend yield3.1% ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Payout ratio64.3% ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
FY2016 Free cash flow: -804.0M USDFY2016 Net income: 381.7M USDFY2017 Free cash flow: -945.3M USDFY2017 Net income: 467.5M USDFY2018 Free cash flow: -1.11B USDFY2018 Net income: 522.0M USDFY2019 Free cash flow: -980.0M USDFY2019 Net income: 567.0M USDFY2020 Free cash flow: -865.0M USDFY2020 Net income: 624.0M USDFY2021 Free cash flow: -587.0M USDFY2021 Net income: 674.0M USDFY2022 Free cash flow: -998.0M USDFY2022 Net income: 686.0M USDFY2023 Free cash flow: -864.0M USDFY2023 Net income: 703.0M USDFY2024 Free cash flow: -885.0M USDFY2024 Net income: 690.0M USDFY2025 Free cash flow: -1.11B USDFY2025 Net income: 810.0M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Alliant Energy Corporation: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
21.43xFY2025Oct 14, 2026
2.37xFY2025Oct 14, 2026
28.46xFY2025Oct 14, 2026
n/aFY2025Oct 14, 2026
n/a We hold no figure here and no stored reason for its absence. The gap is ours, not the company's.
n/aFY2025Feb 20, 2026
n/a The filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.
3.1%FY2025Oct 14, 2026
1.68FY2025Feb 20, 2026
0.80FY2025Feb 20, 2026
3.99xFY2025Oct 14, 2026
4.30FY2025Oct 14, 2026
1.12FY2025Oct 14, 2026
-2.46FY2025Feb 20, 2026
6/9FY2025Feb 20, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 17 filed fiscal years on record, FY2008 to FY2025, from SEC EDGAR. Prices as of Oct 14, 2026. Ratios recomputed Oct 14, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2025, read from the annual reports Alliant Energy Corporation filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Alliant Energy Corporation: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20254.36B1.02B810.0M3.14-1.11B23.5%11.0%10-K, Feb 20, 20260000352541-26-000007
FY20243.98B886.0M690.0M2.69-885.0M22.3%9.8%10-K, Feb 21, 20250000352541-25-000014
FY20234.03B943.0M703.0M2.78-864.0M23.4%10.4%10-K, Feb 16, 20240000352541-24-000014
FY20224.21B928.0M686.0M2.73-998.0M22.1%10.9%10-K, Feb 24, 20230000352541-23-000017
FY20213.67B795.0M674.0M2.63-587.0M21.7%11.3%10-K, Feb 18, 20220000352541-22-000020
FY20203.42B740.0M624.0M2.47-865.0M21.7%11.0%10-K, Feb 19, 20210000352541-21-000022
FY20193.65B778.0M567.0M2.33-980.0M21.3%10.9%10-K, Feb 21, 20200000352541-20-000021
FY20183.53B694.0M522.0M2.19-1.11B19.6%11.4%10-K, Feb 22, 20190000352541-19-000013
FY20173.38B671.2M467.5M1.99-945.3M19.9%11.2%10-K, Feb 23, 20180000352541-18-000019
FY20163.32B554.1M381.7M1.64-804.0M16.7%9.4%10-K, Feb 24, 20170000352541-17-000017
  • Revenue, compound annual growth FY2016 to FY2025: 3.1%
  • Earnings, compound annual growth FY2016 to FY2025: 8.7%
  • Earnings per share, compound annual growth FY2016 to FY2025: 7.5%
  • Free cash flow: Free cash flow was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Alliant Energy Corporation: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.46 ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Piotroski F-score6/9 ComputedFY2025 10-K, filed Feb 20, 2026, 0000352541-26-000007
Named tests met1 of 30 Computed
Beta0.09 ComputedClose of Oct 14, 2026

The named tests

Of 30 tests value investors published: 1 met, 25 not met, 4 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Owner earnings yield
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; Low beta, profitable; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
ROIC at or above WACC; Near the 52-week low; Cash-covered dividend; Cash-flow yield and ROIC. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(7)
  • Current Ratio: Graham set this test for industrial companies; for utilities he tested debt against equity.
  • Return on Invested Capital: The filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.
  • Altman Z-Score: Altman fitted the Z-score on manufacturers; it is not measured for a utility.
  • Free Cash Flow Yield: We do not hold this figure for this company, so there is nothing to show.
  • ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
  • Capex To Ocf: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 7 figures could not be read on this company, among them Current Ratio, Return on Invested Capital, Altman Z-Score. Each blank in the table above names the rest, with its reason. 4 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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Analyze your own portfolio

ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.