Alliant Energy
LNT · NasdaqElectric & Other Services Combined · Fiscal year ends Dec 31
Alliant Energy reported revenue of $4.4B in the fiscal year ended Dec 2025, up 9.6% from the year before. Operating income was $1B, an operating margin of 23.5%, and net income was $810M. Net debt was $11.5B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $3.7B | $4.2B | $4B | $4B | $4.4B |
| Cost of revenue | $537M | $573M | $583M | $613M | $625M |
| Gross profit | $3.1B | $3.6B | $3.4B | $3.4B | $3.7B |
| Operating income | $795M | $928M | $943M | $886M | $1B |
| Interest expense | $277M | $325M | $394M | $449M | $512M |
| Pre-tax income | $600M | $708M | $707M | $576M | $661M |
| Income tax | −$74M | $22M | $4M | −$114M | −$149M |
| Net income | $674M | $686M | $703M | $690M | $810M |
| Diluted EPS | 2.63 | 2.73 | 2.78 | 2.69 | 3.14 |
| Diluted shares | 251M | 251M | 253M | 257M | 258M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $39M | $20M | $62M | $81M | $556M |
| Receivables | $440M | $516M | $475M | $427M | $476M |
| Current assets | $1.1B | $1.3B | $1.3B | $1.2B | $1.7B |
| Net PP&E | $15B | $16.2B | $17.2B | $18.7B | $20.3B |
| Total assets | $18.6B | $20.2B | $21.2B | $22.7B | $25B |
| Payables | $436M | $756M | $611M | $532M | $498M |
| Current liabilities | $2.1B | $2.4B | $2.3B | $2.7B | $2.1B |
| Short-term debt | $633M | $408M | $809M | $1.2B | $1.1B |
| Long-term debt | $6.7B | $7.7B | $8.2B | $8.7B | $11B |
| Shareholders' equity | $6B | $6.3B | $6.8B | $7B | $7.3B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $582M | $486M | $867M | $1.2B | $1.2B |
| Capital expenditure | $1.2B | $1.5B | – | – | – |
| Free cash flow | −$587M | −$998M | – | – | – |
| Depreciation & amortisation | $657M | $671M | $676M | $772M | $846M |
| Stock-based compensation | $14M | $13M | $12M | $12M | $22M |
| Dividends paid | $403M | $428M | $456M | $492M | $521M |
| Dividend per share | 1.61 | 1.71 | 1.81 | 1.92 | 2.03 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 14.6% | −4.2% | −1.1% | 9.6% |
| Operating income growth (YoY) | – | 16.7% | 1.6% | −6.0% | 15.7% |
| EPS growth (YoY) | – | 3.8% | 1.8% | −3.2% | 16.7% |
| Gross margin | 85.4% | 86.4% | 85.5% | 84.6% | 85.7% |
| Operating margin | 21.7% | 22.1% | 23.4% | 22.3% | 23.5% |
| Net margin | 18.4% | 16.3% | 17.5% | 17.3% | 18.6% |
| Return on equityBlank when equity is negative | 11.3% | 10.9% | 10.4% | 9.9% | 11.0% |
| ROCEEBIT ÷ (assets − current liabilities) | 4.8% | 5.2% | 5.0% | 4.4% | 4.5% |
| Free cash flow margin | −16.0% | −23.7% | – | – | – |
| Cash conversion (CFO ÷ net income) | 0.86x | 0.71x | 1.23x | 1.69x | 1.44x |
| Receivable days | 44 | 45 | 43 | 39 | 40 |
| Payable days | 296 | 482 | 383 | 317 | 291 |
| Interest cover | 2.87x | 2.86x | 2.39x | 1.97x | 2.00x |
| Debt ÷ equity | 1.23x | 1.29x | 1.33x | 1.41x | 1.64x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $7.3B | $8.1B | $9B | $9.8B | $11.5B |
| Current ratio | 0.52x | 0.53x | 0.55x | 0.44x | 0.80x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.