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Stocks · Utilities · Electric Services

ALGONQUIN POWER & UTILITIES CORP.

AQN Clue Score35
Ontario, Canada Fiscal year ends December CIK 0001174169
$5.11 +0.59% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $5.11 −64.59% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue0.82Operating income0.18Net income0.10EPS, diluted0.33Fiscal year 2017Revenue1.52 +84.9%Operating income0.38Net income0.15 +52.7%EPS, diluted0.37 +12.1%Fiscal year 2018Revenue1.65 +8.3%Operating income0.38Net income0.18 +23.8%EPS, diluted0.38 +2.7%Fiscal year 2019Revenue1.63 −1.3%Operating income0.37Net income0.53 +187.0%EPS, diluted1.04 +173.7%Fiscal year 2020Revenue1.68 +3.1%Operating income0.38Net income0.78 +47.4%EPS, diluted1.37 +31.7%Fiscal year 2021Revenue2.27 +35.6%Operating income0.41Net income0.26 −66.2%EPS, diluted0.41 −70.1%Fiscal year 2022Revenue2.77 +21.6%Operating income0.40Net income−0.21 −180.0%EPS, diluted−0.33 −180.5%Fiscal year 2023Revenue2.40 −13.1%Operating income0.47Net income0.03EPS, diluted0.03Fiscal year 2024Revenue2.32 −3.5%Operating income0.45Net income−1.38 −4,914.5%EPS, diluted−1.90 −6,433.3%Fiscal year 2025Revenue2.43 +4.9%Operating income0.50Net income0.18EPS, diluted0.22
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 0.82 1.52 1.65 1.63 1.68 2.27 2.77 2.40 2.32 2.43
Growth +84.9% +8.3% −1.3% +3.1% +35.6% +21.6% −13.1% −3.5% +4.9%
Operating income 0.18 0.38 0.38 0.37 0.38 0.41 0.40 0.47 0.45 0.50
Net income 0.10 0.15 0.18 0.53 0.78 0.26 −0.21 0.03 −1.38 0.18
Growth +52.7% +23.8% +187.0% +47.4% −66.2% −180.0% −4,914.5%
EPS, diluted 0.33 0.37 0.38 1.04 1.37 0.41 −0.33 0.03 −1.90 0.22
Growth +12.1% +2.7% +173.7% +31.7% −70.1% −180.5% −6,433.3%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin21.4%Net margin11.9%Free cash flow margin−21.4%Fiscal year 2017Operating margin24.8%Net margin9.8%Free cash flow margin−27.2%Fiscal year 2018Operating margin23.0%Net margin11.2%Free cash flow margin3.9%Fiscal year 2019Operating margin22.6%Net margin32.6%Free cash flow margin1.8%Fiscal year 2020Operating margin22.9%Net margin46.7%Free cash flow margin−16.7%Fiscal year 2021Operating margin18.2%Net margin11.6%Free cash flow margin−52.2%Fiscal year 2022Operating margin14.5%Net margin−7.7%Free cash flow margin−17.0%Fiscal year 2023Operating margin19.4%Net margin1.2%Free cash flow margin−16.6%Fiscal year 2024Operating margin19.2%Net margin−59.5%Free cash flow margin−16.8%Fiscal year 2025Operating margin20.7%Net margin7.4%Free cash flow margin−7.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 21.4% 24.8% 23.0% 22.6% 22.9% 18.2% 14.5% 19.4% 19.2% 20.7%
Net margin 11.9% 9.8% 11.2% 32.6% 46.7% 11.6% −7.7% 1.2% −59.5% 7.4%
Free cash flow margin −21.4% −27.2% 3.9% 1.8% −16.7% −52.2% −17.0% −16.6% −16.8% −7.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.23Capital expenditure−0.41Free cash flow−0.18Dividends paid−0.09Fiscal year 2017Operating cash flow0.33Capital expenditure−0.74Free cash flow−0.41Dividends paid−0.13Fiscal year 2018Operating cash flow0.53Capital expenditure−0.47Free cash flow0.06Dividends paid−0.17Fiscal year 2019Operating cash flow0.61Capital expenditure−0.58Free cash flow0.03 −53.2%Dividends paid−0.20Fiscal year 2020Operating cash flow0.51Capital expenditure−0.79Free cash flow−0.28 −1,038.3%Dividends paid−0.25Fiscal year 2021Operating cash flow0.16Capital expenditure−1.35Free cash flow−1.19Dividends paid−0.31Fiscal year 2022Operating cash flow0.62Capital expenditure−1.09Free cash flow−0.47Dividends paid−0.38Fiscal year 2023Operating cash flow0.63Capital expenditure−1.03Free cash flow−0.40Dividends paid−0.32Fiscal year 2024Operating cash flow0.48Capital expenditure−0.87Free cash flow−0.39Dividends paid−0.29Fiscal year 2025Operating cash flow0.59Capital expenditure−0.77Free cash flow−0.18Dividends paid−0.20
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.23 0.33 0.53 0.61 0.51 0.16 0.62 0.63 0.48 0.59
Capital expenditure −0.41 −0.74 −0.47 −0.58 −0.79 −1.35 −1.09 −1.03 −0.87 −0.77
Free cash flow −0.18 −0.41 0.06 0.03 −0.28 −1.19 −0.47 −0.40 −0.39 −0.18
Growth −53.2% −1,038.3%
Dividends paid −0.09 −0.13 −0.17 −0.20 −0.25 −0.31 −0.38 −0.32 −0.29 −0.20

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.08Total debt2.91Net cash (debt)−2.83Shareholders’ equity1.43Debt to equity2.03Fiscal year 2017Cash0.04Total debt3.08Net cash (debt)−3.04Shareholders’ equity2.72Debt to equity1.13Fiscal year 2018Cash0.05Total debt3.34Net cash (debt)−3.29Shareholders’ equity3.18Debt to equity1.05Fiscal year 2019Cash0.06Total debt3.93Net cash (debt)−3.87Shareholders’ equity3.88Debt to equity1.01Fiscal year 2020Cash0.10Total debt4.54Net cash (debt)−4.44Shareholders’ equity5.20Debt to equity0.87Fiscal year 2021Cash0.13Total debt6.21Net cash (debt)−6.09Shareholders’ equity5.86Debt to equity1.06Fiscal year 2022Cash0.06Total debt7.51Net cash (debt)−7.45Shareholders’ equity5.22Debt to equity1.44Fiscal year 2023Cash0.03Total debt7.50Net cash (debt)−7.48Shareholders’ equity5.04Debt to equity1.49Fiscal year 2024Cash0.03Total debt6.70Net cash (debt)−6.66Shareholders’ equity4.71Debt to equity1.42Fiscal year 2025Cash0.03Total debt6.53Net cash (debt)−6.50Shareholders’ equity4.64Debt to equity1.41
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.08 0.04 0.05 0.06 0.10 0.13 0.06 0.03 0.03 0.03
Total debt 2.91 3.08 3.34 3.93 4.54 6.21 7.51 7.50 6.70 6.53
Net cash (debt) −2.83 −3.04 −3.29 −3.87 −4.44 −6.09 −7.45 −7.48 −6.66 −6.50
Shareholders’ equity 1.43 2.72 3.18 3.88 5.20 5.86 5.22 5.04 4.71 4.64
Debt to equity 2.03 1.13 1.05 1.01 0.87 1.06 1.44 1.49 1.42 1.41

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
0.82 1.52 1.65 1.63 1.68 2.27 2.77 2.40 2.32 2.43
Growth +84.9% +8.3% −1.3% +3.1% +35.6% +21.6% −13.1% −3.5% +4.9%
n/a 0.45 0.47 0.47 0.52 n/a n/a n/a n/a n/a
0.04 0.05 0.05 0.06 0.06 0.07 0.08 0.09 n/a n/a
0.18 0.38 0.38 0.37 0.38 0.41 0.40 0.47 0.45 0.50
Growth +114.4% +0.3% −3.1% +4.7% +7.6% −2.7% +16.2% −4.5% +13.1%
0.10 0.18 0.13 0.56 0.79 0.14 −0.37 −0.06 0.18 0.21
0.03 0.07 0.05 0.07 0.06 −0.04 −0.06 −0.04 0.19 0.07
0.10 0.15 0.18 0.53 0.78 0.26 −0.21 0.03 −1.38 0.18
Growth +52.7% +23.8% +187.0% +47.4% −66.2% −180.0% −4,914.5%
Per share
0.44 n/a 0.38 1.05 1.38 0.41 −0.33 0.03 −1.90 0.22
0.33 0.37 0.38 1.04 1.37 0.41 −0.33 0.03 −1.90 0.22
Growth +12.1% +2.7% +173.7% +31.7% −70.1% −180.5% −6,433.3%
271.8 382.3 461.8 499.9 559.6 622.3 677.9 688.7 731.7 768.1
274.1 386.0 466.0 504.7 564.4 628.9 677.9 690.8 734.0 772.4
Growth +40.8% +20.7% +8.3% +11.8% +11.4% +7.8% +1.9% +6.3% +5.2%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 7.7% a year over five years, and earnings per share fell 30.6% a year.
  • The diluted share count rose 36.9% in five years, which is dilution.
  • Operating margin is down 2.2 points on five years ago, at 20.7%.
  • A net loss in 2 of 10 years on file.