Alliant Energy CorporationLNT
NasdaqGS•Utilities•Utilities - Regulated Electric
Alliant Energy Corporation operates as a utility holding company that provides regulated electric and natural gas services in the United States. It operates through IPL and WPL segments. The company's IPL segment engages primarily in the generation and distribution of electricity and the distribution and transportation of natural gas to retail customers in select markets in Iowa. This segment also sells electricity to wholesale customers in Minnesota, Illinois and Iowa; and generates and distributes steam for two customers in Cedar Rapids, Iowa. Its WPL segment generates and distributes electricity, and distributes and transports natural gas to retail customers in select markets in Wisconsin; and sells electricity to wholesale customers in Wisconsin. It serves retail customers in the farming, agriculture, industrial manufacturing, chemical, packaging, and food industries, as well as wholesale customers comprising municipalities and rural electric cooperatives. In addition, the company owns and operates a short-line rail freight service in Iowa; a Mississippi River barge, rail, and truck freight terminal in Illinois; freight brokerage services; wind turbine blade recycling services; and a rail-served warehouse in Iowa. Further, it holds interests in a natural gas-fired electric generating unit near Sheboygan Falls, Wisconsin; and a wind farm located in Oklahoma. The company was formerly known as Interstate Energy Corp. and changed its name to Alliant Energy Corporation in May 1999. Alliant Energy Corporation is headquartered in Madison, Wisconsin.
Alliant Energy Corporation (LNT) reported trailing twelve months revenue of $4.42B as of March 2026, a 8.3% increase year-over-year. Quarterly revenue reached $1.18B, reflecting continued top-line momentum.
Alliant Energy Corporation generated $821.00M in TTM net income, with quarterly EBITDA of $472.00M. The operating margin contracted from 22.8% to 21.0%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (21.0%) and net margin (18.9%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 18.9% a year ago, signaling stronger bottom-line efficiency.
LNT trades at a P/E of 22.4x (in line with broad market averages) and a P/S of 4.2x. The price-to-book ratio of 2.5x reflects a moderate premium to book value.
The company generated $26.00M in free cash flow over the trailing twelve months, a 108.5% increase year-over-year, indicating cash generation ability. The balance sheet shows $24.81B in total assets with $11.01B in long-term debt against $7.42B in stockholders equity for a debt-to-equity ratio of 1.5. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~22.6%, suggesting durable pricing power and cost discipline.
ROE is positive at ~11.5% on average, adequate but below the threshold typically associated with wide moats.
Only 1 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (7 of 7 quarters up), with ~11.5% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~22.9% — no sign of cost or pricing stress.
Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.
Debt-to-equity has risen 22.6% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
The last 7 consecutive quarters had negative FCF — the company is burning cash and may need external funding.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation