Fact based stock research
IDACORP (NYSE:IDA)

US4511071064

How to read the ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

IDACORP stock research in summary

idacorpinc.com

ANALYSIS: With an Obermatt Combined Rank of 52 (better than 52% compared with investment alternatives), IDACORP (Electric Utilities, USA) shares have above-average financial characteristics compared with similar stocks. Shares of IDACORP are low in value (priced high) with a consolidated Value Rank of 27 (worse than 73% of alternatives) and show below-average growth (Growth Rank of 45) but are safely financed (Safety Rank of 86), which means low debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 52, is a buy recommendation based on IDACORP's financial characteristics. As the company IDACORP's critical financial metrics exhibit below-average performance, such as low value (Obermatt Value Rank of 27) and low growth (Obermatt Growth Rank of 45), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. In this case, good financing practices (Obermatt Safety Rank of 86) are a positive sign, because it may allow the company to weather challenging times until the hoped-for cash flows materialize. This may be true for high-tech or biotechnology companies with enough cash to sustain prolonged business development. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and unattractive today. In such cases, the Obermatt Method has limited value, as it is based on facts we can observe today. If the facts lie all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that account for a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	27
Growth Rank	45
Safety Rank	86
Combined Rank	52

Country	USA
Industry	Electric Utilities
Index	Customer Focus US, Employee Focus US, S&P MIDCAP
Size class	Large

This stock has achievements: Top 10 Stock.

18-Apr-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

Why popular stocks have low ratings

It’s easier said than done. When your stock drops, it’s easy to want to sell it and find a better performer. Think twice, or even three times, before trading. Those fees (especially the hidden ones) can eat up your gains.

Review the performance ranks of the individual metrics that form each investment strategy.

Research History: IDACORP

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	29	19	13	27
GROWTH
GROWTH	48	47	77	45
SAFETY
SAFETY	33	96	82	86
SENTIMENT
SENTIMENT	n/a	100	99	^new
360° VIEW
360° VIEW	n/a	91	92	^new

Most recent update of the stock research: 18-Apr-2024. Financial reporting date used for calculating ranks: 31-Dec-2023. Stock research history is based on the Obermatt Method. The higher the rank, the better IDACORP is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	29	19	13	27
GROWTH
GROWTH	48	47	77	45
SAFETY
SAFETY	33	96	82	86
COMBINED
COMBINED	26	66	70	52

Last update of combined financial performance: 18-Apr-2024. Stock analysis on combined financial performance: The higher the rank of IDACORP the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 27 (worse than 73% compared with alternatives), IDACORP shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators where three out of four are below average for IDACORP. Only the Price-to-Book Capital ratio (also referred to as market-to-book ratio) indicates good stock value with a Price-to-Book Rank of 56, which means that the stock price is lower compared with invested capital than for 56% of comparable investments. All other value indicators are below the market median. Price-to-Sales is 20 which means the stock price compared with what market professionals expect for future profits is higher than 80% of comparable companies, indicating a low value concerning IDACORP's revenue levels. The same is valid for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Book Rank of 56 and for the dividend yields rank which is lower than for 71% of comparable companies, making the stock more expensive as regards to with the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 27, is a hold recommendation based on IDACORP's stock price compared with the company's operational size and dividend yields. Why are market participants paying such a high price for IDACORP, where three out of four value indicators are below par? One reason could be that the company is well financed, indicated by the high book capital level, and has a promising future that is not yet visible in reported revenues and profits. That would also explain the low dividend yield because the company needs the cash to invest in its future. If investors can verify a picture in this sense, the stock may still be a good investment, even though current company-reported financials don't fully explain current stock prices. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	17	12	14	20
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	36	18	14	28
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	40	41	41	56
DIVIDEND YIELD
DIVIDEND YIELD	48	31	31	29
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	29	19	13	27

Last update of Value Rank: 18-Apr-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of IDACORP; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 45 (better than 45% compared with alternatives), IDACORP shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for IDACORP. Sales Growth has a rank of 86, which means that, currently, professionals expect the company to grow more than 86% of its competitors. Profit Growth with a rank of 61 is also above average. But Capital Growth has only a rank of 20, and Stock Returns with 31 are also below-average. Stock returns for IDACORP have recently been below 69% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 45, is a hold recommendation for growth and momentum investors. Are investors forecasting troubles based on the lack of operating investment activity at the company? This could be one explanation as to why stock returns are low. But stock returns can also be the result of correcting an error in the past, in this case, an overly optimistic outlook on the future, which is now more realistic. The Value Ranks may confirm such a picture. The more important growth indicators are revenues and profits, which are both above average for IDACORP. This is a positive sign from the company's operational side and may give investors courage, despite the poor recent stock price performance. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with the Obermatt Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	29	15	84	86
PROFIT GROWTH
PROFIT GROWTH	52	24	28	61
CAPITAL GROWTH
CAPITAL GROWTH	n/a	85	83	20
STOCK RETURNS
STOCK RETURNS	65	81	55	31
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	48	47	77	45

Last update of Growth Rank: 18-Apr-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of IDACORP.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 86 (better than 86% compared with alternatives) for 2024, the company IDACORP has safe financing practices, which means that their overall debt burden is low. This doesn't mean that the business of IDACORP is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators where two out of three are above average for IDACORP.Leverage is at 90, meaning the company has a below-average debt-to-equity ratio. It has less debt than 90% of its competitors.Refinancing is at a rank of 96, meaning that the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 96% of its competitors. Liquidity is at 37, meaning that the company generates less profit to service its debt than 63% of its competitors. This indicates that the company is on the riskier side regarding debt service. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 86 (better than 86% compared with alternatives), IDACORP has a financing structure that is significantly safer than that of its competitors. Low leverage and low refinancing risk mean a safer financing situation. However, low liquidity means that current company cash flows are low in relation to the level of debt. This is a sign of caution in case it is expected for profits to remain low. Investors should compare Obermatt’s Value, Growth, and Sentiment Ranks before deciding. They may also want to investigate why cash flows are expected to be low, making debt service for IDACORP more challenging. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	66	94	90	90
REFINANCING
REFINANCING	32	88	94	96
LIQUIDITY
LIQUIDITY	30	71	29	37
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	33	96	82	86

Last update of Safety Rank: 18-Apr-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of IDACORP and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	93	74	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	50	89	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	73	35	^new
MARKET PULSE
MARKET PULSE	n/a	70	94	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	100	99	^new

Last update of Sentiment Rank: 18-Apr-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for IDACORP.
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