# ALGONQUIN POWER AND UTILITIES P (AQN-PA.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Utilities / Electric Utilities. Price C$26.51, market value C$20.5 billion.

## Valuation
- **Price / sales: 5.8×**. Each dollar of revenue is priced at 5.8×.
- **Price / book: 3.2×**. The shares trade at 3.2× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 23.3×**. Enterprise value is 23.3× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: -0.4%** (5-yr avg -4.3%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Gross margin: 45.4%**. ALGONQUIN POWER AND UTILITIES P keeps 45.4% of revenue after the direct cost of what it sells.
- **Operating margin: 20.5%**. 20.5% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 7.5%**. 7.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 4.0%**. 4.0% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 3.0%**. Return on all capital, debt included, is 3.0%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 1.1%**. Each dollar of assets produces 1.1% of profit.

## Growth
- **Revenue growth (1 yr): 5.6%** (3-yr -4.0%/yr, 5-yr 7.9%/yr). Revenue grew 5.6% over the last year, against 7.9% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 112.1%** (5-yr -30.0%/yr). Earnings per share rose 112.1%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 1.41**. Debt is 1.41 times equity, a leveraged balance sheet, which is normal for utilities.
- **Net debt / EBITDA: 7.1×**. It would take 7.1 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 1.7×**. Operating profit covers interest 1.7×, thin but manageable.
- **Current ratio: 1.00** (quick 0.82). Current assets cover the next year's liabilities 1.00 times.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. ALGONQUIN POWER AND UTILITIES P does not currently pay a dividend, but it returned -0.0% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 14.3%** (YTD 8.6%, 3-mo 2.4%). The shares are up 14.3% over twelve months including dividends.
- **From 52-week high: -0.5%** (8.2% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 75**. An RSI of 75 is in overbought territory; short-term pullbacks are common from here.
- **Beta (1 yr): 0.01** (volatility 9%). Beta of 0.01 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=AQN-PA.TO · Page: https://foliofundamentals.com/stocks/aqn-pa.to

Not investment advice.