ALLETE (ALE) Financials

$64.72 -0.11 (-0.17%)

Closing price 03:59 PM Eastern

Extended Trading

$64.72 0.00 (0.00%)

As of 04:20 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	141	155	172	174	186	165	169	189	247	179
Consolidated Net Income / (Loss)	142	156	172	174	186	153	138	131	179	122
Net Income / (Loss) Continuing Operations	142	156	172	174	186	153	138	131	179	122
Total Pre-Tax Income	167	176	187	159	179	109	111	100	207	126
Total Operating Income	211	217	226	201	180	138	151	134	181	160
Total Gross Profit	802	862	875	873	769	744	788	842	923	923
Total Revenue	1,486	1,340	1,419	1,499	1,241	1,169	1,419	1,571	1,880	1,530
Operating Revenue	1,486	1,340	1,419	1,499	1,241	1,169	1,419	1,571	1,880	1,530
Total Cost of Revenue	685	477	544	626	471	425	631	728	956	607
Operating Cost of Revenue	685	477	544	626	471	425	631	728	956	607
Total Operating Expenses	591	645	649	672	589	606	637	708	743	763
Selling, General & Admin Expense	334	341	344	341	264	252	259	319	345	361
Depreciation Expense	170	196	178	206	202	218	232	242	252	272
Other Operating Expenses / (Income)	88	109	127	126	123	123	146	147	145	130
Total Other Income / (Expense), net	-44	-41	-39	-43	-0.90	-29	-40	-34	26	-34
Interest Expense	65	70	68	68	65	66	69	75	81	82
Interest & Investment Income	16	19	23	18	22	22	20	19	22	25
Other Income / (Expense), net	4.70	10	6.30	7.80	42	15	8.70	22	85	23
Income Tax Expense	25	20	15	-16	-6.60	-43	-27	-31	28	4.70
Net Income / (Loss) Attributable to Noncontrolling Interest	0.40	0.50	0.00	0.00	-0.10	-13	-31	-58	-68	-58
Basic Earnings per Share	$2.92	$3.15	$3.39	$3.39	$3.59	$3.18	$3.23	$3.38	$4.31	$3.11
Weighted Average Basic Shares Outstanding	48.30M	49.30M	50.80M	51.30M	51.60M	51.90M	52.40M	55.90M	57.30M	57.70M
Diluted Earnings per Share	$2.92	$3.14	$3.38	$3.38	$3.59	$3.18	$3.23	$3.38	$4.30	$3.10
Weighted Average Diluted Shares Outstanding	48.40M	49.50M	51M	51.50M	51.70M	51.90M	52.50M	56M	57.40M	57.80M
Weighted Average Basic & Diluted Shares Outstanding	48.30M	49.30M	50.80M	51.40M	51.70M	104.23M	106.49M	114.51M	115.16M	57.90M
Cash Dividends to Common per Share	$2.02	$2.08	$2.14	$2.24	$2.35	$2.47	$2.52	$2.60	$2.71	$2.82

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

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

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

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

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

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

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

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

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

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

Frequently Asked Questions About ALLETE's Financials

When does ALLETE's fiscal year end?

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

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

ALLETE's net income were at $121.70 million at the end of 2024, a 32.0% decrease from 2023, and a 14.0% decrease since 2015.

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 4/17/2025 by MarketBeat.com Staff

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ALLETE (ALE) Financials

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ALLETE (ALE) Financials

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