ALLETE, Inc. (ALE)

ALLETE Financials Overview

Financials in millions USD. Fiscal year is January - December.

Revenue & Profits

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Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue Revenue Growth	1,500	1,530	1,880	1,571	1,419	1,169
Revenue Growth	-4.30%	-18.62%	19.68%	10.67%	21.39%	-5.76%
Gross Profit Gross Profit Growth	488.7	497	489.9	446.8	453.5	424.8
Operating Income Operating Income Growth	138.7	160.1	180.9	134.2	151.3	138.2
Net Income Net Income Growth	165.7	179.3	247.1	189.3	169.2	165.4
Earnings Per Share EPS Growth	2.85	3.10	4.30	3.38	3.23	3.18
EPS Growth	-8.65%	-27.91%	27.22%	4.64%	1.57%	-11.42%

Revenue by Segment

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Allete Clean Energy Allete Clean Energy Growth	59.5	84.3	418.5	118.3	86.9	79.6
Corporate and Other Corporate and Other Growth	193.9	202.8	223	193.1	104.4	102.2
Regulated Operations Regulated Operations Growth	1,272	1,243	1,238	1,259	1,228	987.3
Total Total Growth	1,500	1,530	1,880	1,571	1,419	1,169

Cash & Debt

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Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Investments Cash & Investments Growth	78.7	32.8	71.9	36.4	45.1	44.3
Total Debt Total Debt Growth	2,099	1,705	1,791	1,921	1,977	1,797
Net Cash (Debt) Net Cash Growth	-2,020	-1,672	-1,719	-1,884	-1,932	-1,753
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-34.79	-28.93	-29.95	-33.65	-36.81	-33.77

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Cash Flow Operating Cash Flow Growth	430.2	457.1	585.3	221.3	263.5	299.8
Capital Expenditures CapEx Growth	-483.6	-354.9	-271.2	-220.5	-479.5	-724.7
Free Cash Flow Free Cash Flow Growth	-53.4	102.2	314.1	0.8	-216	-424.9
Free Cash Flow Growth	-	-67.46%	39162.50%	-	-	-

Margins

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Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Gross Margin	32.57%	32.49%	26.06%	28.45%	31.95%	36.34%
Operating Margin	9.24%	10.47%	9.62%	8.54%	10.66%	11.82%
Pretax Margin	6.12%	8.26%	11.00%	6.37%	7.81%	9.36%
Profit Margin	5.79%	7.96%	9.52%	8.36%	9.71%	13.07%
FCF Margin	0.00%	6.68%	16.71%	0.05%	-15.22%	-36.34%

Dividends

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Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jul 28, 2026	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Dividend Per Share Dividend Per Share Growth	2.920	2.820	2.710	2.600	2.520	2.470
Dividend Per Share Growth	3.67%	4.06%	4.23%	3.17%	2.02%	5.11%
Dividend Yield	4.30%	4.35%	4.44%	4.05%	3.79%	3.99%

Valuation

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Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jul 28, 2026	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
PE Ratio	23.83	20.90	14.22	19.09	20.54	19.48
Forward PE	17.77	17.35	15.87	15.90	17.26	18.46
P/FCF Ratio	-	36.70	11.21	4615.45	-	-
PS Ratio	2.62	2.45	1.87	2.35	2.49	2.76

Data Sources: Fiscal.ai and S&P Global Market Intelligence Last updated: Sep 30, 2025

Financial data is provided by Fiscal.ai and updates within minutes after each earnings release, which is every three months for this company. Revenue segment data is provided by S&P Global Market Intelligence.

Update frequency:

Quarterly

Last checked:

Jan 1, 2000

Data Sources Report a data error