10 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 7.7% per year over the past 5 years.
Net income has grown slower than revenue (-25.4% vs 7.7% per year).
Operating margin has contracted, at 20.7% in the latest year.
Financial health
Total debt ($7.7B) exceeds cash ($33M); net debt is $7.7B.
Total debt has grown in line with revenue (10.4% vs 7.7% per year).
Operating income covered interest expense 1.8× in the latest year, down from 2.1× 5 years ago.
Total debt is 8.6× EBITDA.
Shareholder returns
Dividends have been paid for 10 consecutive years, consuming 111.3% of earnings.
The dividend has declined 4.5% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$2.4B
$181M
0.0%
20.7%
-$178M
$7.7B
$33M
2024
$2.3B
-$1.4B
0.0%
19.2%
-$391M
$6.8B
$35M
2023
$2.4B
$29M
0.0%
19.4%
-$398M
$8.3B
$25M
2022
$2.8B
-$212M
0.0%
14.5%
-$470M
$8.2B
$58M
2021
$2.3B
$265M
0.0%
18.2%
-$1.2B
$6.7B
$125M
2020
$1.7B
$782M
69.0%
22.9%
-$281M
$4.7B
$102M
2019
$1.6B
$531M
71.0%
22.6%
$30M
$4.3B
$62M
2018
$1.6B
$185M
71.3%
23.0%
$64M
$3.7B
$47M
2017
$1.5B
$149M
70.4%
24.8%
-$239M
$3.3B
$43M
2016
—
$98M
—
—
—
$2.9B
$82M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Jun '25
$528M
$24M
0.0%
12.3%
$64M
$7.6B
$54M
Jun '24
$515M
$201M
0.0%
16.6%
$32M
$9.2B
$132M
Jun '23
$628M
-$253M
0.0%
14.9%
$16M
$8.8B
$100M
Jun '22
$619M
-$33M
0.0%
17.3%
-$112M
$8.3B
$85M
Jun '21
$528M
$103M
67.8%
16.2%
-$304M
$7.0B
$204M
Jun '20
$344M
$286M
64.2%
17.2%
-$43M
$4.8B
$60M
Jun '19
$344M
$157M
65.0%
18.2%
$28M
$4.1B
$65M
Jun '18
$366M
$65M
67.2%
20.5%
$50M
$4.0B
$38M
Jun '17
—
$35M
—
—
—
—
—
Valuation over time
How the market has priced AQN against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 159.7× (Jan '24) to 25.5× (Jun '26).
The price-to-sales ratio has fallen from 2.3× (Mar '23) to 1.9× (Jun '26).
The dividend yield has fallen from 5.8% (Mar '23) to 4.4% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is AQN growing its revenue and profit?
Over the past 5 years, Algonquin Power & Utilities Corp.'s revenue has grown 7.7% per year, and net income declined 25.4% per year. These are computed facts, not advice.
How much debt does AQN have?
As of FY2025, Algonquin Power & Utilities Corp. reported $7.7B of total debt against $33M of cash; operating income covered interest expense 1.8×.
What is AQN's profit margin?
In FY2025, gross margin was —, operating margin 20.7%, and net margin 7.4%.
What is AQN's P/E ratio?
As of Jun '26, Algonquin Power & Utilities Corp. traded at a price-to-earnings ratio of about 25.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.