ALLETE (ALE) Financials

$64.96 -0.05 (-0.08%)

Closing price 03:59 PM Eastern

Extended Trading

$65.04 +0.08 (+0.13%)

As of 05:28 PM Eastern

Annual Income Statements for ALLETE

This table shows ALLETE's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	179	247	189	169	165	186	174	172	155	141
Consolidated Net Income / (Loss)	122	179	131	138	153	186	174	172	156	142
Net Income / (Loss) Continuing Operations	122	179	131	138	153	186	174	172	156	142
Total Pre-Tax Income	126	207	100	111	109	179	159	187	176	167
Total Operating Income	160	181	134	151	138	180	201	226	217	211
Total Gross Profit	923	923	842	788	744	769	873	875	862	802
Total Revenue	1,530	1,880	1,571	1,419	1,169	1,241	1,499	1,419	1,340	1,486
Operating Revenue	1,530	1,880	1,571	1,419	1,169	1,241	1,499	1,419	1,340	1,486
Total Cost of Revenue	607	956	728	631	425	471	626	544	477	685
Operating Cost of Revenue	607	956	728	631	425	471	626	544	477	685
Total Operating Expenses	763	743	708	637	606	589	672	649	645	591
Selling, General & Admin Expense	361	345	319	259	252	264	341	344	341	334
Depreciation Expense	272	252	242	232	218	202	206	178	196	170
Other Operating Expenses / (Income)	130	145	147	146	123	123	126	127	109	88
Total Other Income / (Expense), net	-34	26	-34	-40	-29	-0.90	-43	-39	-41	-44
Interest Expense	82	81	75	69	66	65	68	68	70	65
Interest & Investment Income	25	22	19	20	22	22	18	23	19	16
Other Income / (Expense), net	23	85	22	8.70	15	42	7.80	6.30	10	4.70
Income Tax Expense	4.70	28	-31	-27	-43	-6.60	-16	15	20	25
Net Income / (Loss) Attributable to Noncontrolling Interest	-58	-68	-58	-31	-13	-0.10	0.00	0.00	0.50	0.40
Basic Earnings per Share	$3.11	$4.31	$3.38	$3.23	$3.18	$3.59	$3.39	$3.39	$3.15	$2.92
Weighted Average Basic Shares Outstanding	57.70M	57.30M	55.90M	52.40M	51.90M	51.60M	51.30M	50.80M	49.30M	48.30M
Diluted Earnings per Share	$3.10	$4.30	$3.38	$3.23	$3.18	$3.59	$3.38	$3.38	$3.14	$2.92
Weighted Average Diluted Shares Outstanding	57.80M	57.40M	56M	52.50M	51.90M	51.70M	51.50M	51M	49.50M	48.40M
Weighted Average Basic & Diluted Shares Outstanding	57.90M	115.16M	114.51M	106.49M	104.23M	51.70M	51.40M	50.80M	49.30M	48.30M
Cash Dividends to Common per Share	$2.82	$2.71	$2.60	$2.52	$2.47	$2.35	$2.24	$2.14	$2.08	$2.02

This table shows ALLETE's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	56	51	45	33	51	52	86	52	58	52	34
Consolidated Net Income / (Loss)	35	32	33	20	37	31	70	41	38	37	27
Net Income / (Loss) Continuing Operations	35	32	33	20	37	31	70	41	38	37	27
Total Pre-Tax Income	42	29	36	21	41	39	89	40	39	25	20
Total Operating Income	53	38	45	29	47	43	36	54	48	34	33
Total Gross Profit	252	219	244	215	245	234	221	233	236	212	213
Total Revenue	400	365	407	355	403	403	379	533	565	426	388
Operating Revenue	400	365	407	355	403	403	379	533	565	426	388
Total Cost of Revenue	148	146	164	139	158	169	158	301	329	214	175
Operating Cost of Revenue	148	146	164	139	158	169	158	301	329	214	175
Total Operating Expenses	199	180	198	186	198	191	185	179	188	178	180
Selling, General & Admin Expense	93	75	93	102	92	91	84	85	86	81	83
Depreciation Expense	70	70	71	66	65	64	63	63	62	61	59
Other Operating Expenses / (Income)	37	36	35	18	41	36	38	32	40	37	38
Total Other Income / (Expense), net	-11	-9.40	-9.70	-8.30	-6.30	-4.60	53	-13	-9.20	-8.30	-14
Interest Expense	21	21	20	20	20	20	21	21	19	20	18
Interest & Investment Income	6.00	8.50	5.10	5.90	5.50	5.60	4.70	5.40	6.00	5.60	2.30
Other Income / (Expense), net	4.60	3.00	5.50	5.90	8.60	9.70	69	2.50	4.10	6.00	2.30
Income Tax Expense	7.50	-3.60	2.90	1.40	4.00	7.50	19	-0.40	1.50	-12	-7.20
Net Income / (Loss) Attributable to Noncontrolling Interest	-21	-18	-12	-13	-14	-21	-16	-11	-21	-15	-6.90
Basic Earnings per Share	$0.97	$0.88	$0.78	$0.57	$0.88	$0.89	$1.50	$0.90	$1.02	$0.88	$0.59
Weighted Average Basic Shares Outstanding	57.90M	57.70M	57.80M	57.70M	57.60M	57.30M	57.40M	57.30M	57.30M	55.90M	57.10M
Diluted Earnings per Share	$0.97	$0.87	$0.78	$0.57	$0.88	$0.89	$1.49	$0.90	$1.02	$0.88	$0.59
Weighted Average Diluted Shares Outstanding	58M	57.80M	57.90M	57.80M	57.70M	57.40M	57.50M	57.40M	57.30M	56M	57.20M
Weighted Average Basic & Diluted Shares Outstanding	57.96M	57.90M	57.82M	57.75M	57.67M	115.16M	114.95M	114.80M	114.63M	114.51M	114.32M
Cash Dividends to Common per Share	$0.73	-	$0.71	$0.71	$0.71	-	$0.68	$0.68	$0.68	-	$0.65

This table details how cash moves in and out of ALLETE's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-24	39	-7.50	-18	-27	14	-31	72	-31	-49
Net Cash From Operating Activities	457	585	221	264	300	247	431	403	335	340
Net Cash From Continuing Operating Activities	457	585	221	264	300	247	431	403	376	341
Net Income / (Loss) Continuing Operations	122	179	131	138	153	186	174	172	156	142
Consolidated Net Income / (Loss)	122	179	131	138	153	186	174	172	156	142
Depreciation Expense	278	259	250	242	228	212	210	182	201	172
Amortization Expense	-5.00	-5.20	-7.60	-11	-11	-12	-24	-24	-22	-23
Non-Cash Adjustments To Reconcile Net Income	77	29	41	-44	22	-74	44	47	29	31
Changes in Operating Assets and Liabilities, net	-15	124	-194	-61	-92	-66	27	25	13	21
Net Cash From Investing Activities	-341	-284	-384	-485	-813	-343	-347	-229	-272	-619
Net Cash From Continuing Investing Activities	-341	-284	-384	-485	-813	-343	-347	-229	-272	-619
Purchase of Property, Plant & Equipment	-355	-271	-221	-480	-725	-597	-312	-209	-266	-287
Acquisitions	-5.80	-8.20	-161	-18	-99	-38	-39	-26	-11	-335
Purchase of Investments	-2.40	-1.20	-2.40	-3.60	-8.70	-12	-13	-8.60	-9.40	-2.30
Sale and/or Maturity of Investments	2.00	1.00	2.20	6.40	13	20	10	10	9.00	1.70
Other Investing Activities, net	20	-4.00	-2.40	9.10	6.90	16	7.50	4.30	5.10	3.10
Net Cash From Financing Activities	-141	-263	155	204	486	109	-115	-102	-135	230
Net Cash From Continuing Financing Activities	-141	-263	155	204	486	109	-115	-102	-135	230
Repayment of Debt	-651	-568	-878	-555	-491	-73	-96	-191	-59	-154
Repurchase of Common Equity	0.00	0.00	-8.10	0.00	0.00	-	-	-	-	-
Payment of Dividends	-164	-164	-148	-135	-128	-121	-115	-109	-103	-98
Issuance of Debt	658	437	785	733	672	202	76	132	4.80	325
Issuance of Common Equity	17	33	404	161	433	106	20	86	31	161

This table details how cash moves in and out of ALLETE's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	39	-56	67	3.40	-39	-52	80	12	-0.60	-8.40	-33
Net Cash From Operating Activities	110	90	191	116	60	65	188	239	92	140	89
Net Cash From Continuing Operating Activities	110	90	191	116	60	65	188	239	92	140	89
Net Income / (Loss) Continuing Operations	35	32	33	20	37	31	70	41	38	37	27
Consolidated Net Income / (Loss)	35	32	33	20	37	31	70	41	38	37	27
Depreciation Expense	71	71	73	68	67	65	65	64	64	63	61
Amortization Expense	-1.50	-1.20	-1.30	-1.20	-1.30	-1.30	-1.30	-1.30	-1.30	-1.30	-1.20
Non-Cash Adjustments To Reconcile Net Income	24	5.80	33	30	8.50	-50	25	48	5.80	38	3.10
Changes in Operating Assets and Liabilities, net	-19	-18	54	0.20	-51	20	30	88	-14	4.00	-0.20
Net Cash From Investing Activities	-160	-121	-83	-76	-61	-83	-69	-57	-75	-73	-64
Net Cash From Continuing Investing Activities	-160	-121	-83	-76	-61	-83	-69	-57	-75	-73	-64
Purchase of Property, Plant & Equipment	-154	-125	-96	-73	-61	-87	-64	-51	-70	-67	-63
Acquisitions	-5.50	-	-1.90	-2.30	-1.60	-1.60	-2.30	-3.50	-0.80	-0.80	-1.20
Purchase of Investments	-1.30	-0.50	-0.30	-0.10	-1.50	-0.40	-0.40	-0.40	0.00	-0.70	-0.50
Sale and/or Maturity of Investments	1.40	0.30	0.30	-	1.40	0.50	0.30	0.20	0.00	0.50	0.50
Other Investing Activities, net	-0.40	4.00	15	-0.20	1.50	5.60	-3.30	-2.40	-3.90	-4.90	0.50
Net Cash From Financing Activities	89	-25	-40	-37	-38	-34	-39	-171	-18	-76	-58
Net Cash From Continuing Financing Activities	89	-25	-40	-37	-38	-34	-39	-171	-18	-76	-58
Repayment of Debt	-113	-16	-325	-152	-158	-34	-1.90	-305	-228	-115	-272
Payment of Dividends	-43	-41	-41	-41	-41	-39	-47	-39	-39	-39	-37
Issuance of Debt	240	30	322	150	156	27	6.10	165	239	75	245
Issuance of Common Equity	4.50	3.00	3.50	5.80	4.70	11	3.70	7.60	10	3.60	4.00

This table presents ALLETE's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	6,754	6,656	6,846	6,422	6,085	5,483	5,165	5,080	4,877	4,895
Total Current Assets	435	468	718	291	255	270	334	368	295	371
Cash & Equivalents	33	72	36	45	44	69	69	99	28	97
Accounts Receivable	148	137	138	124	112	96	144	135	123	121
Inventories, net	155	175	456	98	74	73	87	96	104	117
Other Current Assets	100	84	88	25	25	31	34	38	40	36
Plant, Property, & Equipment, net	5,182	5,013	5,004	5,088	4,841	4,377	3,904	3,822	3,741	3,669
Total Noncurrent Assets	1,138	1,175	1,124	1,044	989	836	926	890	841	854
Long-Term Investments	340	331	323	318	301	198	161	172	191	199
Goodwill	155	155	156	0.80	-	-	223	226	213	215
Other Noncurrent Operating Assets	642	688	645	725	688	639	542	492	437	440
Total Liabilities & Shareholders' Equity	6,754	6,656	6,846	6,422	6,085	5,483	5,165	5,080	4,877	4,895
Total Liabilities	3,364	3,249	3,497	3,485	3,284	3,147	3,009	3,012	2,984	3,072
Total Current Liabilities	404	378	716	543	460	507	405	351	400	275
Short-Term Debt	95	111	273	214	204	213	58	64	188	37
Accounts Payable	114	102	103	111	110	165	150	136	74	89
Current Deferred & Payable Income Tax Liabilities	55	51	69	65	59	51	51	50	47	44
Other Current Liabilities	118	92	251	133	67	60	129	83	74	86
Other Current Nonoperating Liabilities	23	21	21	20	20	18	18	18	18	19
Total Noncurrent Liabilities	2,960	2,872	2,781	2,941	2,825	2,640	2,604	2,661	2,584	2,797
Long-Term Debt	1,705	1,680	1,648	1,763	1,593	1,401	1,429	1,439	1,370	1,557
Asset Retirement Reserve & Litigation Obligation	571	574	526	536	525	560	512	532	126	105
Noncurrent Deferred & Payable Income Tax Liabilities	253	193	158	182	196	213	224	231	555	580
Noncurrent Employee Benefit Liabilities	118	161	180	180	226	173	177	192	211	207
Other Noncurrent Operating Liabilities	313	264	269	281	285	293	263	267	323	349
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	0.40	0.50	0.00	-	-	-	-	-	-	-
Total Equity & Noncontrolling Interests	3,390	3,407	3,348	2,938	2,800	2,336	2,156	2,068	1,893	1,822
Total Preferred & Common Equity	2,848	2,810	2,692	2,404	2,295	2,232	2,156	2,068	1,893	1,820
Total Common Equity	2,848	2,810	2,692	2,404	2,295	2,232	2,156	2,068	1,893	1,820
Common Stock	1,823	1,804	1,782	1,537	1,461	1,437	1,429	1,401	1,295	1,271
Retained Earnings	1,043	1,026	935	891	865	819	755	689	626	573
Accumulated Other Comprehensive Income / (Loss)	-18	-21	-24	-24	-31	-24	-27	-23	-28	-25
Noncontrolling Interest	542	597	656	533	506	104	0.00	-	-	2.20

This table presents ALLETE's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	6,866	6,737	6,661	6,605	6,645	6,568	6,705	6,858
Total Current Assets	478	483	432	433	503	446	570	722
Cash & Equivalents	92	102	38	32	126	48	30	42
Accounts Receivable	143	137	133	142	120	123	120	121
Inventories, net	171	167	184	183	180	194	347	472
Other Current Assets	72	78	77	76	78	81	73	87
Plant, Property, & Equipment, net	5,256	5,113	5,080	5,009	4,997	4,974	4,979	5,011
Total Noncurrent Assets	1,133	1,141	1,150	1,162	1,145	1,148	1,156	1,125
Long-Term Investments	344	338	336	333	330	328	324	320
Goodwill	155	155	155	155	156	156	156	156
Other Noncurrent Operating Assets	634	648	658	674	660	665	676	649
Total Liabilities & Shareholders' Equity	6,866	6,737	6,661	6,605	6,645	6,568	6,705	6,858
Total Liabilities	3,478	3,345	3,266	3,196	3,248	3,199	3,347	3,504
Total Current Liabilities	381	334	298	261	414	380	464	706
Short-Term Debt	94	42	42	17	111	107	176	309
Accounts Payable	106	111	94	84	112	89	85	124
Current Deferred & Payable Income Tax Liabilities	65	60	47	63	64	50	81	70
Other Current Liabilities	97	103	93	80	111	113	107	189
Other Current Nonoperating Liabilities	19	19	22	16	16	21	15	15
Total Noncurrent Liabilities	3,097	3,010	2,968	2,935	2,835	2,819	2,882	2,798
Long-Term Debt	1,833	1,744	1,746	1,772	1,686	1,686	1,756	1,653
Asset Retirement Reserve & Litigation Obligation	581	562	561	564	549	538	526	527
Noncurrent Deferred & Payable Income Tax Liabilities	270	256	216	195	171	154	156	177
Noncurrent Employee Benefit Liabilities	99	135	135	135	164	174	174	172
Other Noncurrent Operating Liabilities	315	314	311	268	264	268	270	269
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	0.50	0.70	0.90	0.50	-	-	-	-
Total Equity & Noncontrolling Interests	3,388	3,392	3,395	3,409	3,397	3,369	3,358	3,354
Total Preferred & Common Equity	2,866	2,831	2,822	2,823	2,787	2,734	2,716	2,683
Total Common Equity	2,866	2,831	2,822	2,823	2,787	2,734	2,716	2,683
Common Stock	1,827	1,819	1,814	1,807	1,797	1,792	1,786	1,777
Retained Earnings	1,057	1,033	1,029	1,037	1,014	967	954	929
Accumulated Other Comprehensive Income / (Loss)	-18	-21	-21	-21	-25	-24	-24	-24
Noncontrolling Interest	522	561	573	586	610	634	642	671

This table displays calculated financial ratios and metrics derived from ALLETE's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-18.62%	19.68%	10.68%	21.39%	-5.76%	-17.22%	5.59%	5.94%	-9.87%	30.75%
EBITDA Growth	-12.17%	30.10%	2.36%	5.52%	-12.56%	7.01%	1.13%	-3.77%	11.63%	13.27%
EBIT Growth	-31.14%	69.80%	-2.13%	4.64%	-31.16%	6.27%	-9.99%	2.11%	5.57%	9.12%
NOPAT Growth	-1.50%	-11.10%	-6.37%	-2.60%	3.54%	-15.59%	6.12%	8.10%	7.72%	22.36%
Net Income Growth	-31.97%	36.25%	-4.72%	-9.82%	-17.63%	6.55%	1.10%	10.53%	10.11%	12.75%
EPS Growth	-27.91%	27.22%	4.64%	1.57%	-11.42%	6.21%	0.00%	7.64%	7.53%	0.69%
Operating Cash Flow Growth	-21.90%	164.48%	-16.02%	-12.11%	21.43%	-42.75%	7.05%	20.30%	-1.53%	26.06%
Free Cash Flow Firm Growth	-51.90%	248.21%	-62.28%	70.22%	-346.19%	-177.14%	-21.45%	71.59%	124.30%	9.05%
Invested Capital Growth	0.50%	-2.31%	7.84%	7.04%	15.42%	7.90%	3.35%	2.10%	3.54%	19.57%
Revenue Q/Q Growth	-2.42%	-1.21%	1.74%	5.86%	1.37%	-10.38%	7.95%	-0.25%	-2.84%	6.44%
EBITDA Q/Q Growth	-1.21%	3.12%	-2.30%	6.76%	-5.21%	-1.61%	17.28%	-11.91%	10.06%	-4.21%
EBIT Q/Q Growth	-6.01%	5.18%	-7.61%	17.04%	-15.29%	-3.98%	18.41%	-10.97%	16.02%	-9.76%
NOPAT Q/Q Growth	5.62%	-4.51%	-5.17%	7.30%	-3.34%	-9.32%	6.17%	2.39%	11.05%	-5.11%
Net Income Q/Q Growth	1.08%	-3.35%	-7.99%	13.14%	-10.01%	-5.84%	12.76%	-1.66%	19.57%	-9.24%
EPS Q/Q Growth	-0.64%	0.23%	-8.15%	16.19%	-6.74%	-6.02%	12.67%	-2.59%	19.85%	-10.70%
Operating Cash Flow Q/Q Growth	5.66%	-11.33%	63.32%	-1.35%	-4.03%	-20.25%	9.52%	-0.35%	3.59%	8.90%
Free Cash Flow Firm Q/Q Growth	-9.21%	-28.28%	30.52%	53.42%	-8.99%	-1,106.71%	-11.22%	79.90%	-38.62%	9.45%
Invested Capital Q/Q Growth	1.74%	1.30%	-0.76%	1.15%	4.10%	4.04%	2.55%	1.80%	3.69%	1.47%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	60.33%	49.12%	53.63%	55.52%	63.62%	62.01%	58.26%	61.64%	64.37%	53.95%
EBITDA Margin	29.83%	27.64%	25.42%	27.49%	31.62%	34.08%	26.36%	27.53%	30.31%	24.47%
Operating Margin	10.47%	9.62%	8.54%	10.66%	11.82%	14.49%	13.43%	15.92%	16.20%	14.18%
EBIT Margin	11.97%	14.15%	9.97%	11.27%	13.08%	17.90%	13.95%	16.36%	16.97%	14.49%
Profit (Net Income) Margin	7.96%	9.52%	8.36%	9.71%	13.07%	14.95%	11.62%	12.13%	11.63%	9.52%
Tax Burden Percent	96.28%	86.51%	131.17%	124.26%	139.67%	103.69%	109.77%	92.13%	88.72%	84.83%
Interest Burden Percent	69.03%	77.77%	63.92%	69.31%	71.55%	80.55%	75.89%	80.49%	77.22%	77.44%
Effective Tax Rate	3.72%	13.49%	-31.17%	-24.26%	-39.67%	-3.69%	-9.77%	7.87%	11.28%	15.17%
Return on Invested Capital (ROIC)	3.19%	3.21%	3.70%	4.25%	4.84%	5.23%	6.55%	6.34%	6.03%	6.20%
ROIC Less NNEP Spread (ROIC-NNEP)	0.92%	4.71%	0.92%	1.02%	2.01%	5.16%	2.84%	3.58%	3.28%	3.01%
Return on Net Nonoperating Assets (RNNOA)	0.39%	2.09%	0.47%	0.55%	1.11%	3.03%	1.70%	2.36%	2.36%	2.04%
Return on Equity (ROE)	3.58%	5.30%	4.18%	4.80%	5.95%	8.26%	8.24%	8.69%	8.39%	8.24%
Cash Return on Invested Capital (CROIC)	2.70%	5.55%	-3.84%	-2.54%	-9.48%	-2.37%	3.25%	4.25%	2.55%	-11.63%
Operating Return on Assets (OROA)	2.73%	3.94%	2.36%	2.56%	2.64%	4.17%	4.08%	4.66%	4.65%	4.65%
Return on Assets (ROA)	1.82%	2.65%	1.98%	2.20%	2.64%	3.48%	3.40%	3.46%	3.19%	3.06%
Return on Common Equity (ROCE)	2.98%	4.31%	3.39%	3.93%	5.24%	8.07%	8.24%	8.69%	8.38%	8.23%
Return on Equity Simple (ROE_SIMPLE)	4.27%	6.37%	4.88%	5.73%	6.66%	8.31%	8.08%	8.33%	8.23%	7.77%
Net Operating Profit after Tax (NOPAT)	154	156	176	188	193	186	221	208	193	179
NOPAT Margin	10.08%	8.33%	11.21%	13.25%	16.51%	15.03%	14.74%	14.66%	14.37%	12.03%
Net Nonoperating Expense Percent (NNEP)	2.27%	-1.50%	2.78%	3.23%	2.84%	0.07%	3.71%	2.76%	2.75%	3.20%
Return On Investment Capital (ROIC_SIMPLE)	2.97%	3.01%	3.34%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	39.67%	50.88%	46.37%	44.48%	36.38%	37.99%	41.74%	38.36%	35.63%	46.05%
SG&A Expenses to Revenue	23.62%	18.37%	20.30%	18.26%	21.56%	21.31%	22.72%	24.24%	25.45%	22.44%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	49.87%	39.50%	45.09%	44.86%	51.80%	47.51%	44.84%	45.73%	48.18%	39.77%
Earnings before Interest and Taxes (EBIT)	183	266	157	160	153	222	209	232	227	215
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	456	520	399	390	370	423	395	391	406	364
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.32	1.20	1.25	1.28	1.19	1.53	1.44	1.41	1.25	0.99
Price to Tangible Book Value (P/TBV)	1.39	1.27	1.33	1.28	1.19	1.53	1.61	1.59	1.41	1.12
Price to Revenue (P/Rev)	2.45	1.79	2.14	2.17	2.34	2.76	2.07	2.06	1.77	1.21
Price to Earnings (P/E)	20.90	13.59	17.76	18.21	16.56	18.45	17.86	16.97	15.27	12.71
Dividend Yield	4.35%	4.64%	4.42%	4.30%	4.69%	3.55%	3.71%	3.74%	4.34%	5.52%
Earnings Yield	4.79%	7.36%	5.63%	5.49%	6.04%	5.42%	5.60%	5.89%	6.55%	7.87%
Enterprise Value to Invested Capital (EV/IC)	1.18	1.11	1.13	1.14	1.10	1.32	1.27	1.25	1.14	0.99
Enterprise Value to Revenue (EV/Rev)	3.74	2.84	3.55	3.68	4.02	3.93	2.91	2.93	2.77	2.08
Enterprise Value to EBITDA (EV/EBITDA)	12.53	10.29	13.98	13.40	12.70	11.53	11.05	10.63	9.14	8.51
Enterprise Value to EBIT (EV/EBIT)	31.22	20.10	35.63	32.67	30.71	21.95	20.88	17.89	16.32	14.36
Enterprise Value to NOPAT (EV/NOPAT)	37.08	34.15	31.70	27.81	24.33	26.15	19.76	19.96	19.28	17.31
Enterprise Value to Operating Cash Flow (EV/OCF)	12.50	9.13	25.22	19.84	15.66	19.74	10.12	10.31	11.08	9.10
Enterprise Value to Free Cash Flow (EV/FCFF)	43.92	19.75	0.00	0.00	0.00	0.00	39.76	29.73	45.57	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.53	0.53	0.57	0.67	0.64	0.69	0.69	0.73	0.82	0.87
Long-Term Debt to Equity	0.50	0.49	0.49	0.60	0.57	0.60	0.66	0.70	0.72	0.85
Financial Leverage	0.42	0.44	0.51	0.54	0.55	0.59	0.60	0.66	0.72	0.68
Leverage Ratio	1.97	2.00	2.11	2.18	2.25	2.37	2.43	2.51	2.63	2.70
Compound Leverage Factor	1.36	1.55	1.35	1.51	1.61	1.91	1.84	2.02	2.03	2.09
Debt to Total Capital	34.67%	34.46%	36.45%	40.23%	39.09%	40.86%	40.80%	42.09%	45.15%	46.66%
Short-Term Debt to Total Capital	1.82%	2.14%	5.17%	4.36%	4.43%	5.39%	1.58%	1.79%	5.44%	1.09%
Long-Term Debt to Total Capital	32.85%	32.32%	31.28%	35.87%	34.66%	35.47%	39.23%	40.30%	39.71%	45.57%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	10.45%	11.49%	12.46%	10.85%	11.00%	2.63%	0.00%	0.00%	0.00%	0.06%
Common Equity to Total Capital	54.88%	54.05%	51.09%	48.92%	49.91%	56.51%	59.20%	57.91%	54.85%	53.28%
Debt to EBITDA	3.94	3.45	4.81	5.07	4.86	3.82	3.76	3.85	3.84	4.38
Net Debt to EBITDA	3.13	2.67	3.91	4.14	3.93	3.19	3.18	3.15	3.30	3.57
Long-Term Debt to EBITDA	3.74	3.23	4.13	4.52	4.31	3.31	3.62	3.68	3.38	4.28
Debt to NOPAT	11.67	11.45	10.91	10.52	9.31	8.66	6.73	7.22	8.09	8.92
Net Debt to NOPAT	9.25	8.87	8.87	8.59	7.52	7.22	5.69	5.92	6.96	7.26
Long-Term Debt to NOPAT	11.06	10.73	9.36	9.38	8.25	7.51	6.47	6.91	7.12	8.71
Altman Z-Score	1.21	1.27	1.07	0.98	0.93	1.17	1.23	1.21	1.06	0.99
Noncontrolling Interest Sharing Ratio	16.77%	18.56%	18.93%	18.10%	11.86%	2.31%	0.00%	0.00%	0.06%	0.12%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.08	1.24	1.00	0.54	0.55	0.53	0.83	1.05	0.74	1.35
Quick Ratio	0.45	0.55	0.24	0.31	0.34	0.33	0.53	0.67	0.38	0.79
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	130	271	-183	-113	-378	-85	110	140	81	-335
Operating Cash Flow to CapEx	128.80%	215.82%	100.36%	54.95%	41.37%	75.16%	138.06%	193.24%	126.09%	118.75%
Free Cash Flow to Firm to Interest Expense	1.59	3.35	-2.43	-1.63	-5.76	-1.30	1.62	2.06	1.16	-5.16
Operating Cash Flow to Interest Expense	5.59	7.24	2.94	3.81	4.57	3.80	6.35	5.94	4.76	5.24
Operating Cash Flow Less CapEx to Interest Expense	1.25	3.89	0.01	-3.13	-6.48	-1.26	1.75	2.87	0.99	0.83
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.23	0.28	0.24	0.23	0.20	0.23	0.29	0.29	0.27	0.32
Accounts Receivable Turnover	10.72	13.67	12.01	12.05	11.23	10.30	10.72	11.02	10.99	13.26
Inventory Turnover	3.68	3.03	2.63	7.34	5.79	5.91	6.85	5.44	4.31	6.93
Fixed Asset Turnover	0.30	0.38	0.31	0.29	0.25	0.30	0.39	0.38	0.36	0.43
Accounts Payable Turnover	5.62	9.32	6.81	5.71	3.09	2.99	4.37	5.18	5.86	6.14
Days Sales Outstanding (DSO)	34.04	26.71	30.40	30.30	32.52	35.43	34.04	33.12	33.20	27.53
Days Inventory Outstanding (DIO)	99.25	120.46	138.72	49.70	63.08	61.76	53.28	67.08	84.62	52.68
Days Payable Outstanding (DPO)	64.90	39.16	53.62	63.90	118.09	121.98	83.47	70.50	62.25	59.43
Cash Conversion Cycle (CCC)	68.38	108.02	115.49	16.10	-22.50	-24.79	3.84	29.70	55.57	20.78
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,840	4,816	4,931	4,572	4,271	3,701	3,430	3,318	3,250	3,139
Invested Capital Turnover	0.32	0.39	0.33	0.32	0.29	0.35	0.44	0.43	0.42	0.52
Increase / (Decrease) in Invested Capital	24	-114	359	301	571	271	111	68	111	514
Enterprise Value (EV)	5,716	5,344	5,580	5,228	4,696	4,874	4,364	4,154	3,711	3,093
Market Capitalization	3,747	3,359	3,362	3,080	2,739	3,424	3,109	2,922	2,372	1,793
Book Value per Share	$49.26	$48.88	$47.09	$45.73	$44.15	$43.20	$41.92	$40.52	$38.27	$37.17
Tangible Book Value per Share	$46.57	$46.18	$44.37	$45.72	$44.15	$43.20	$37.58	$36.10	$33.96	$32.78
Total Capital	5,190	5,198	5,269	4,915	4,597	3,949	3,642	3,572	3,451	3,416
Total Debt	1,799	1,791	1,921	1,977	1,797	1,614	1,486	1,503	1,558	1,594
Total Long-Term Debt	1,705	1,680	1,648	1,763	1,593	1,401	1,429	1,439	1,370	1,557
Net Debt	1,427	1,388	1,562	1,614	1,451	1,347	1,256	1,233	1,339	1,298
Capital Expenditures (CapEx)	355	271	221	480	725	329	312	209	266	286
Debt-free, Cash-free Net Working Capital (DFCFNWC)	93	130	238	-83	-45	-94	-82	-19	55	37
Debt-free Net Working Capital (DFNWC)	126	202	274	-38	-1.00	-25	-13	80	83	134
Net Working Capital (NWC)	31	91	1.80	-252	-205	-238	-71	16	-105	96
Net Nonoperating Expense (NNE)	32	-22	45	50	40	0.93	47	36	37	37
Net Nonoperating Obligations (NNO)	1,450	1,409	1,582	1,634	1,471	1,365	1,274	1,250	1,357	1,317
Total Depreciation and Amortization (D&A)	273	254	243	230	217	201	186	159	179	148
Debt-free, Cash-free Net Working Capital to Revenue	6.07%	6.92%	15.15%	-5.85%	-3.87%	-7.60%	-5.50%	-1.30%	4.12%	2.46%
Debt-free Net Working Capital to Revenue	8.22%	10.74%	17.47%	-2.67%	-0.09%	-2.02%	-0.89%	5.66%	6.17%	8.98%
Net Working Capital to Revenue	2.03%	4.81%	0.11%	-17.76%	-17.51%	-19.18%	-4.72%	1.15%	-7.84%	6.47%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.11	$4.31	$3.38	$3.23	$3.36	$3.59	$3.39	$3.39	$3.15	$2.92
Adjusted Weighted Average Basic Shares Outstanding	57.70M	57.30M	55.90M	52.40M	51.90M	51.60M	51.30M	50.80M	49.30M	48.30M
Adjusted Diluted Earnings per Share	$3.10	$4.30	$3.38	$3.23	$3.35	$3.59	$3.38	$3.38	$3.14	$2.92
Adjusted Weighted Average Diluted Shares Outstanding	57.80M	57.40M	56M	52.50M	51.90M	51.70M	51.50M	51M	49.50M	48.40M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	57.90M	115.16M	114.51M	106.49M	104.23M	51.70M	51.52M	51.14M	50.05M	49.11M
Normalized Net Operating Profit after Tax (NOPAT)	154	156	94	106	106	126	141	208	193	179
Normalized NOPAT Margin	10.08%	8.33%	5.98%	7.46%	9.04%	10.15%	9.40%	14.66%	14.37%	12.03%
Pre Tax Income Margin	8.26%	11.00%	6.37%	7.81%	9.36%	14.42%	10.58%	13.17%	13.11%	11.22%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.24	3.29	2.08	2.32	2.33	3.42	3.08	3.42	3.23	3.32
NOPAT to Interest Expense	1.89	1.94	2.34	2.72	2.94	2.87	3.25	3.07	2.74	2.75
EBIT Less CapEx to Interest Expense	-2.10	-0.07	-0.85	-4.62	-8.72	-1.64	-1.52	0.35	-0.54	-1.09
NOPAT Less CapEx to Interest Expense	-2.46	-1.42	-0.59	-4.22	-8.10	-2.19	-1.35	-0.01	-1.04	-1.66
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	135.00%	91.67%	112.41%	97.97%	83.90%	65.44%	66.05%	63.12%	65.92%	69.19%
Augmented Payout Ratio	135.00%	91.67%	118.58%	97.97%	83.90%	65.44%	66.05%	63.12%	65.92%	69.19%

This table displays calculated financial ratios and metrics derived from ALLETE's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.77%	-9.41%	7.50%	-33.54%	-28.61%	-5.43%	-2.45%	42.96%	47.30%	6.72%	12.42%
EBITDA Growth	5.20%	-4.79%	-27.43%	-14.54%	5.12%	15.53%	77.08%	37.25%	-0.95%	-8.51%	6.73%
EBIT Growth	3.04%	-22.16%	-51.48%	-36.96%	6.68%	33.00%	193.28%	117.05%	-5.42%	-24.52%	11.22%
NOPAT Growth	2.10%	23.56%	47.63%	-49.20%	-8.10%	-29.69%	-38.29%	137.01%	-20.32%	-16.72%	16.99%
Net Income Growth	-6.22%	4.19%	-53.02%	-51.60%	-1.60%	-16.67%	159.70%	95.67%	-19.14%	-23.46%	11.20%
EPS Growth	10.23%	-2.25%	-47.65%	-36.67%	-13.73%	1.14%	152.54%	34.33%	-17.74%	-25.42%	11.32%
Operating Cash Flow Growth	83.36%	37.52%	1.27%	-51.34%	-34.96%	-53.39%	111.45%	7,816.13%	2,025.00%	158.01%	-13.91%
Free Cash Flow Firm Growth	-103.77%	-87.31%	-83.85%	-98.82%	180.37%	148.12%	159.99%	149.30%	43.32%	-28.19%	-6.64%
Invested Capital Growth	1.01%	0.50%	0.05%	0.52%	-2.04%	-2.31%	-4.30%	-3.25%	4.76%	7.84%	9.92%
Revenue Q/Q Growth	9.70%	-10.41%	14.87%	-12.10%	0.15%	6.31%	-28.98%	-5.58%	32.67%	9.66%	4.07%
EBITDA Q/Q Growth	14.66%	-9.00%	20.16%	-16.09%	3.77%	-30.64%	41.51%	3.21%	14.05%	6.31%	9.69%
EBIT Q/Q Growth	40.15%	-19.09%	43.91%	-36.85%	5.87%	-49.57%	86.96%	6.87%	31.99%	11.20%	38.37%
NOPAT Q/Q Growth	1.64%	3.05%	51.59%	-35.69%	23.00%	23.13%	-47.84%	16.33%	-5.89%	8.07%	100.33%
Net Income Q/Q Growth	7.43%	-1.22%	65.99%	-46.76%	19.35%	-55.46%	71.01%	8.24%	1.08%	38.81%	28.85%
EPS Q/Q Growth	11.49%	11.54%	36.84%	-35.23%	-1.12%	-40.27%	65.56%	-11.76%	15.91%	49.15%	-11.94%
Operating Cash Flow Q/Q Growth	22.72%	-52.94%	63.92%	93.68%	-7.96%	-65.34%	-21.24%	158.87%	-34.05%	57.24%	2,974.19%
Free Cash Flow Firm Q/Q Growth	-128.71%	-51.60%	1,430.22%	-98.22%	-3.51%	-38.41%	11.98%	220.75%	42.23%	23.21%	7.97%
Invested Capital Q/Q Growth	1.21%	1.74%	-1.54%	-0.37%	0.69%	1.30%	-1.09%	-2.90%	0.41%	-0.76%	-0.01%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	63.04%	59.90%	59.85%	60.76%	60.85%	58.06%	58.32%	43.66%	41.74%	49.74%	54.88%
EBITDA Margin	31.86%	30.48%	30.01%	28.69%	30.05%	29.00%	44.46%	22.31%	20.41%	23.74%	24.49%
Operating Margin	13.24%	10.44%	11.12%	8.29%	11.73%	10.70%	9.50%	10.03%	8.55%	7.91%	8.60%
EBIT Margin	14.39%	11.27%	12.48%	9.96%	13.86%	13.11%	27.64%	10.50%	9.28%	9.32%	9.19%
Profit (Net Income) Margin	8.67%	8.85%	8.03%	5.56%	9.17%	7.70%	18.37%	7.63%	6.66%	8.74%	6.90%
Tax Burden Percent	82.23%	112.54%	91.85%	93.36%	90.24%	80.52%	78.29%	100.99%	96.16%	146.46%	136.73%
Interest Burden Percent	73.26%	69.83%	70.08%	59.77%	73.35%	72.92%	84.91%	71.96%	74.62%	63.98%	54.90%
Effective Tax Rate	17.77%	-12.54%	8.15%	6.64%	9.76%	19.48%	21.71%	-0.99%	3.84%	-46.46%	-36.73%
Return on Invested Capital (ROIC)	3.41%	3.72%	3.37%	2.47%	3.71%	3.32%	2.91%	3.96%	2.98%	3.83%	3.83%
ROIC Less NNEP Spread (ROIC-NNEP)	2.81%	2.98%	2.71%	1.93%	3.34%	3.08%	5.70%	3.09%	2.42%	3.08%	2.68%
Return on Net Nonoperating Assets (RNNOA)	1.22%	1.26%	1.09%	0.82%	1.50%	1.36%	2.51%	1.40%	1.18%	1.57%	1.41%
Return on Equity (ROE)	4.63%	4.98%	4.46%	3.30%	5.21%	4.69%	5.42%	5.36%	4.16%	5.41%	5.24%
Cash Return on Invested Capital (CROIC)	2.18%	2.70%	3.01%	2.17%	5.20%	5.55%	7.76%	7.26%	-1.27%	-3.84%	-5.54%
Operating Return on Assets (OROA)	3.26%	2.57%	2.92%	2.32%	3.58%	3.65%	7.79%	3.00%	2.45%	2.21%	2.15%
Return on Assets (ROA)	1.97%	2.02%	1.88%	1.29%	2.37%	2.14%	5.18%	2.18%	1.76%	2.07%	1.62%
Return on Common Equity (ROCE)	3.87%	4.14%	3.69%	2.71%	4.26%	3.82%	4.39%	4.32%	3.30%	4.38%	4.24%
Return on Equity Simple (ROE_SIMPLE)	4.17%	0.00%	4.25%	5.57%	6.32%	0.00%	6.64%	5.20%	4.51%	0.00%	5.32%
Net Operating Profit after Tax (NOPAT)	44	43	42	27	43	35	28	54	46	49	46
NOPAT Margin	10.89%	11.75%	10.22%	7.74%	10.58%	8.62%	7.44%	10.13%	8.22%	11.59%	11.76%
Net Nonoperating Expense Percent (NNEP)	0.60%	0.74%	0.65%	0.54%	0.37%	0.25%	-2.79%	0.87%	0.56%	0.76%	1.15%
Return On Investment Capital (ROIC_SIMPLE)	0.82%	0.83%	-	-	-	0.67%	-	-	-	0.94%	-
Cost of Revenue to Revenue	36.96%	40.10%	40.15%	39.24%	39.15%	41.94%	41.68%	56.34%	58.26%	50.26%	45.12%
SG&A Expenses to Revenue	23.24%	20.53%	22.77%	28.80%	22.74%	22.62%	22.07%	15.92%	15.17%	18.98%	21.43%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	49.80%	49.45%	48.72%	52.47%	49.12%	47.36%	48.81%	33.63%	33.19%	41.83%	46.28%
Earnings before Interest and Taxes (EBIT)	58	41	51	35	56	53	105	56	52	40	36
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	128	111	122	102	121	117	168	119	115	101	95
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.33	1.32	1.31	1.26	1.19	1.20	1.04	1.15	1.27	1.25	0.97
Price to Tangible Book Value (P/TBV)	1.40	1.39	1.39	1.33	1.26	1.27	1.10	1.21	1.34	1.33	1.03
Price to Revenue (P/Rev)	2.49	2.45	2.36	2.31	1.95	1.79	1.52	1.64	1.96	2.14	1.69
Price to Earnings (P/E)	20.60	20.90	20.57	16.08	13.99	13.59	11.69	16.05	18.96	17.76	13.06
Dividend Yield	4.33%	4.35%	4.35%	4.48%	4.69%	4.64%	5.33%	4.86%	4.38%	4.42%	5.65%
Earnings Yield	4.86%	4.79%	4.86%	6.22%	7.15%	7.36%	8.56%	6.23%	5.27%	5.63%	7.66%
Enterprise Value to Invested Capital (EV/IC)	1.19	1.18	1.18	1.15	1.11	1.11	1.02	1.08	1.14	1.13	0.98
Enterprise Value to Revenue (EV/Rev)	3.81	3.74	3.58	3.60	3.12	2.84	2.54	2.71	3.23	3.55	3.16
Enterprise Value to EBITDA (EV/EBITDA)	12.58	12.53	12.15	10.91	10.21	10.29	9.61	12.04	14.20	13.98	11.93
Enterprise Value to EBIT (EV/EBIT)	31.48	31.22	28.82	22.29	19.91	20.10	19.16	28.20	36.82	35.63	28.76
Enterprise Value to NOPAT (EV/NOPAT)	37.50	37.08	38.47	42.87	34.90	34.15	29.55	26.83	34.58	31.70	26.27
Enterprise Value to Operating Cash Flow (EV/OCF)	11.47	12.50	12.98	12.89	9.70	9.13	7.34	9.24	17.76	25.22	35.98
Enterprise Value to Free Cash Flow (EV/FCFF)	54.81	43.92	39.17	53.10	21.07	19.75	12.83	14.60	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.57	0.53	0.53	0.53	0.53	0.53	0.53	0.53	0.58	0.57	0.58
Long-Term Debt to Equity	0.54	0.50	0.51	0.51	0.52	0.49	0.50	0.50	0.52	0.49	0.49
Financial Leverage	0.43	0.42	0.40	0.43	0.45	0.44	0.44	0.45	0.49	0.51	0.53
Leverage Ratio	1.98	1.97	1.97	1.96	1.97	2.00	2.00	1.99	2.04	2.11	2.12
Compound Leverage Factor	1.45	1.38	1.38	1.17	1.44	1.46	1.70	1.43	1.52	1.35	1.17
Debt to Total Capital	36.25%	34.67%	34.48%	34.49%	34.42%	34.46%	34.60%	34.73%	36.52%	36.45%	36.90%
Short-Term Debt to Total Capital	1.77%	1.82%	0.81%	0.81%	0.33%	2.14%	2.14%	2.07%	3.33%	5.17%	5.81%
Long-Term Debt to Total Capital	34.48%	32.85%	33.67%	33.68%	34.09%	32.32%	32.46%	32.67%	33.19%	31.28%	31.10%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	9.83%	10.45%	10.84%	11.07%	11.27%	11.49%	11.75%	12.29%	12.14%	12.46%	12.63%
Common Equity to Total Capital	53.91%	54.88%	54.68%	54.43%	54.30%	54.05%	53.65%	52.98%	51.34%	51.09%	50.47%
Debt to EBITDA	4.17	3.94	3.87	3.52	3.41	3.45	3.57	4.16	4.85	4.81	4.80
Net Debt to EBITDA	3.22	3.13	2.91	2.78	2.71	2.67	2.66	3.29	3.96	3.91	3.91
Long-Term Debt to EBITDA	3.96	3.74	3.78	3.44	3.37	3.23	3.35	3.92	4.41	4.13	4.04
Debt to NOPAT	12.42	11.67	12.23	13.83	11.64	11.45	10.97	9.28	11.81	10.91	10.57
Net Debt to NOPAT	9.61	9.25	9.22	10.94	9.27	8.87	8.19	7.34	9.65	8.87	8.62
Long-Term Debt to NOPAT	11.81	11.06	11.95	13.50	11.53	10.73	10.29	8.73	10.73	9.36	8.91
Altman Z-Score	1.14	1.14	1.16	1.14	1.17	1.16	1.10	1.12	1.12	1.02	0.88
Noncontrolling Interest Sharing Ratio	16.31%	16.77%	17.26%	17.86%	18.15%	18.56%	18.98%	19.52%	20.56%	18.93%	19.10%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.26	1.08	1.45	1.45	1.66	1.24	1.22	1.17	1.23	1.00	1.02
Quick Ratio	0.62	0.45	0.71	0.57	0.67	0.55	0.59	0.45	0.32	0.24	0.23
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-5.42	19	39	2.55	144	149	242	216	-179	-309	-403
Operating Cash Flow to CapEx	71.37%	72.07%	198.13%	158.58%	99.17%	74.97%	296.23%	473.66%	132.00%	209.10%	140.98%
Free Cash Flow to Firm to Interest Expense	-0.25	0.90	1.92	0.13	7.04	7.48	11.78	10.22	-9.26	-15.54	-21.89
Operating Cash Flow to Interest Expense	5.15	4.30	9.40	5.79	2.95	3.28	9.19	11.34	4.79	7.04	4.84
Operating Cash Flow Less CapEx to Interest Expense	-2.07	-1.67	4.66	2.14	-0.02	-1.10	6.09	8.94	1.16	3.67	1.41
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.23	0.23	0.23	0.23	0.26	0.28	0.28	0.29	0.26	0.24	0.23
Accounts Receivable Turnover	10.70	10.72	12.23	12.02	13.09	13.67	15.85	15.98	14.68	12.01	13.38
Inventory Turnover	3.37	3.68	3.63	3.30	2.97	3.03	3.07	3.70	3.32	2.63	2.52
Fixed Asset Turnover	0.30	0.30	0.31	0.31	0.34	0.38	0.38	0.38	0.35	0.31	0.31
Accounts Payable Turnover	6.28	5.62	5.64	6.80	9.29	9.32	8.47	9.09	11.23	6.81	6.26
Days Sales Outstanding (DSO)	34.12	34.04	29.85	30.38	27.88	26.71	23.03	22.85	24.86	30.40	27.27
Days Inventory Outstanding (DIO)	108.19	99.25	100.59	110.76	123.09	120.46	118.90	98.54	109.84	138.72	144.75
Days Payable Outstanding (DPO)	58.16	64.90	64.69	53.66	39.30	39.16	43.11	40.14	32.50	53.62	58.28
Cash Conversion Cycle (CCC)	84.14	68.38	65.75	87.48	111.67	108.02	98.82	81.24	102.21	115.49	113.74
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,899	4,840	4,757	4,832	4,850	4,816	4,755	4,807	4,951	4,931	4,968
Invested Capital Turnover	0.31	0.32	0.33	0.32	0.35	0.39	0.39	0.39	0.36	0.33	0.33
Increase / (Decrease) in Invested Capital	49	24	2.60	25	-101	-114	-213	-162	225	359	448
Enterprise Value (EV)	5,818	5,716	5,614	5,545	5,363	5,344	4,842	5,183	5,656	5,580	4,875
Market Capitalization	3,804	3,747	3,707	3,556	3,353	3,359	2,890	3,132	3,436	3,362	2,605
Book Value per Share	$49.50	$49.26	$49.02	$48.93	$49.01	$48.88	$48.55	$47.70	$47.43	$47.09	$47.00
Tangible Book Value per Share	$46.82	$46.57	$46.33	$46.24	$46.31	$46.18	$45.84	$44.99	$44.71	$44.37	$44.27
Total Capital	5,316	5,190	5,178	5,184	5,199	5,198	5,194	5,161	5,290	5,269	5,316
Total Debt	1,927	1,799	1,786	1,788	1,790	1,791	1,797	1,793	1,932	1,921	1,962
Total Long-Term Debt	1,833	1,705	1,744	1,746	1,772	1,680	1,686	1,686	1,756	1,648	1,653
Net Debt	1,491	1,427	1,346	1,415	1,425	1,388	1,342	1,417	1,578	1,562	1,599
Capital Expenditures (CapEx)	154	125	96	73	61	87	64	51	70	67	63
Debt-free, Cash-free Net Working Capital (DFCFNWC)	100	93	89	139	158	130	75	125	252	238	283
Debt-free Net Working Capital (DFNWC)	192	126	191	177	190	202	201	173	282	274	325
Net Working Capital (NWC)	97	31	149	135	172	91	90	66	105	1.80	16
Net Nonoperating Expense (NNE)	8.88	11	8.91	7.75	5.69	3.70	-41	13	8.85	12	19
Net Nonoperating Obligations (NNO)	1,510	1,450	1,365	1,436	1,441	1,409	1,358	1,439	1,593	1,582	1,614
Total Depreciation and Amortization (D&A)	70	70	71	66	65	64	64	63	63	61	59
Debt-free, Cash-free Net Working Capital to Revenue	6.52%	6.07%	5.67%	9.04%	9.17%	6.92%	3.95%	6.52%	14.37%	15.15%	18.31%
Debt-free Net Working Capital to Revenue	12.54%	8.22%	12.17%	11.48%	11.03%	10.74%	10.55%	9.03%	16.08%	17.47%	21.04%
Net Working Capital to Revenue	6.37%	2.03%	9.50%	8.74%	10.03%	4.81%	4.71%	3.45%	6.01%	0.11%	1.05%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.97	$0.88	$0.78	$0.57	$0.88	$0.89	$1.50	$0.90	$1.02	$0.88	$0.59
Adjusted Weighted Average Basic Shares Outstanding	57.90M	57.70M	57.80M	57.70M	57.60M	57.30M	57.40M	57.30M	57.30M	55.90M	57.10M
Adjusted Diluted Earnings per Share	$0.97	$0.87	$0.78	$0.57	$0.88	$0.89	$1.49	$0.90	$1.02	$0.88	$0.59
Adjusted Weighted Average Diluted Shares Outstanding	58M	57.80M	57.90M	57.80M	57.70M	57.40M	57.50M	57.40M	57.30M	56M	57.20M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	57.96M	57.90M	57.82M	57.75M	57.67M	115.16M	114.95M	114.80M	114.63M	114.51M	114.32M
Normalized Net Operating Profit after Tax (NOPAT)	44	27	42	27	43	35	28	37	46	24	23
Normalized NOPAT Margin	10.89%	7.31%	10.22%	7.74%	10.58%	8.62%	7.44%	7.02%	8.22%	5.54%	6.02%
Pre Tax Income Margin	10.54%	7.87%	8.74%	5.95%	10.17%	9.56%	23.47%	7.56%	6.92%	5.97%	5.05%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.69	1.97	2.50	1.76	2.74	2.65	5.11	2.65	2.72	2.00	1.94
NOPAT to Interest Expense	2.04	2.05	2.05	1.37	2.09	1.74	1.37	2.56	2.41	2.48	2.48
EBIT Less CapEx to Interest Expense	-4.52	-4.00	-2.24	-1.90	-0.23	-1.72	2.00	0.26	-0.91	-1.37	-1.49
NOPAT Less CapEx to Interest Expense	-5.18	-3.91	-2.69	-2.29	-0.88	-2.63	-1.73	0.17	-1.22	-0.89	-0.95
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	138.86%	135.00%	134.47%	106.74%	93.10%	91.67%	88.60%	108.36%	124.35%	112.41%	101.54%
Augmented Payout Ratio	138.86%	135.00%	134.47%	106.74%	93.10%	91.67%	88.60%	108.36%	124.35%	118.58%	107.22%

Frequently Asked Questions About ALLETE's Financials

When does ALLETE's financial year end?

According to the most recent income statement we have on file, ALLETE's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has ALLETE's net income changed over the last 9 years?

In the past 9 years, ALLETE's net income has ranged from $121.70 million in 2024 to $185.50 million in 2019, and is currently $121.70 million as of their latest financial filing in 2024. Check out ALLETE's forecast to explore projected trends and price targets.

What is ALLETE's operating income?

ALLETE's total operating income in 2024 was $160.10 million, based on the following breakdown:

Total Gross Profit: $923 million
Total Operating Expenses: $762.90 million

How has ALLETE revenue changed over the last 9 years?

Over the last 9 years, ALLETE's total revenue changed from $1.49 billion in 2015 to $1.53 billion in 2024, a change of 2.9%.

How much debt does ALLETE have?

ALLETE's total liabilities were at $3.36 billion at the end of 2024, a 3.5% increase from 2023, and a 9.5% increase since 2015.

How much cash does ALLETE have?

In the past 9 years, ALLETE's cash and equivalents has ranged from $27.50 million in 2016 to $98.90 million in 2017, and is currently $32.80 million as of their latest financial filing in 2024.

How has ALLETE's book value per share changed over the last 9 years?

Over the last 9 years, ALLETE's book value per share changed from 37.17 in 2015 to 49.26 in 2024, a change of 32.5%.

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This page (NYSE:ALE) was last updated on 5/22/2025 by MarketBeat.com Staff

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ALLETE (ALE) Financials

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ALLETE (ALE) Financials

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