Algonquin Power & Utilities Corp (AQN) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Algonquin Power & Utilities Corp $4.45, price $5.06, upside -12.1%, quality 36 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $3.93 – $12.34 · fair‑value band $4.04 – $4.99 · the $5.06 price screens above the $4.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Algonquin Power & Utilities Corp. operates in the power and utility industries. It owns and operates a portfolio of regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.
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Algonquin Power & Utilities Corp. operates in the power and utility industries. It owns and operates a portfolio of regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations. As of December 31, 2025, it operated a portfolio of regulated utility systems in the United States, Canada, Bermuda, and Chile, serving approximately 1,272,000 customer connections. Its regulated electrical distribution utility systems and related transmission and generation assets are located in the states of Arkansas, California, Kansas, Missouri, Nevada, New Hampshire, and Oklahoma, as well as in Bermuda with approximately 311,000 electric customer connections. Its regulated water distribution and wastewater utility systems are located in the states of Arizona, Arkansas, California, Illinois, Missouri, New York, and Texas, as well as in Chile with approximately 583,000 customer connections. It's regulated natural gas distribution utility systems are located in the states of Georgia, Illinois, Iowa, Massachusetts, Missouri, New Hampshire, and New York; and in the Canadian province of New Brunswick with approximately 378,000 natural gas customer connections. It also owns and operates generating assets with a gross capacity of approximately 2.0 gigawatt (GW) and has investments in generating assets with approximately 0.3 GW of net generation capacity. It generates and sells hydroelectric energy in Canada, and capacity and renewable attributes are produced by its portfolio of 14 hydroelectric power generation facilities located in the provinces of Alberta, Ontario, New Brunswick, and Quebec. As of December 31, 2025, it had a combined gross generating capacity of approximately 112 megawatts (MW) and a combined net generating capacity of approximately 105 MW. The company was formerly known as Traduction Militech Translation Inc. in October 2009. The company was incorporated in 1988 and is headquartered in Oakville, Canada.
Stock analysis
Algonquin Power & Utilities Corp (AQN) currently trades at $5.06, while our model-based Fair Value estimate is $4.45, implying the stock looks roughly 13.7% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $5.77 per share, and 2 of the 13 models we run sit above the $5.06 price.
Bear case: the Multiples group reads lowest at $3.99, and 11 of the 13 models stay below the price. Evidence for this calculation is high.
Scenario range: $4.04 (bear) to $4.99 (bull), the price of $5.06 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 36/100 (below-average quality), in the Utilities sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Algonquin Power & Utilities Corp reported revenue of $2.4B in FY2025 versus $2.3B in FY2021, a compound +1.7%/yr. Reported net income was $181M in FY2025, compounding −9.1%/yr from FY2021.
Key figures
Market cap $4.5B · P/E ratio 19.5 · P/S ratio 1.45 · EPS (TTM) $0.2600 · Dividend yield 5.1% · Net margin 7.4% · Return on equity 2.7% · Return on assets (EBIT) 2.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 26% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −46% fair-value upside, at −12%, AQN screens cheaper than that median.
Fair Value models
Bear $4.04Fair Value $4.45Bull $4.99
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.37/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+4.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−4.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.7%
Start year 2020 (pandemic). Over 10 years: +12.6% a year
Revenue growth 28 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+43.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
−5.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−10.8%
Dividend (yield on the price)5.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−26% vs −3%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.23% → 22%
News mood ⓘNews mood, the average tone of recent news (98 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
Compare Algonquin Power & Utilities Corp with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Diversified · 51 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score36 · Bottom 25%
Fair Value upside−12% · Above median
Profitability
Return on equity (TTM)3% · Bottom 25%
Return on assets2% · Below median
Net margin (TTM)7% · Above median
Operating margin (TTM)23% · Above median
Growth and dividend
Revenue growth14% · Top 25%
Dividend yield (TTM)5.1% · Top 25%
Balance sheet
Debt / equity1.33× · Above median
Valuation Multiplesvs Utilities - Diversified median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Algonquin Power & Utilities Corp Fair Value". https://www.fairvalue-calculator.com/stock/AQN
Frequently asked questions
Is Algonquin Power & Utilities Corp (AQN) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $4.45 versus a price of $5.06, about −12% upside (overvalued).
What is the fair value of AQN?
Our model-based fair value for Algonquin Power & Utilities Corp is $4.45 (as of Sep 23, 2026), built from audited fundamentals. The current price: $5.06.
What is the quality score of AQN?
Algonquin Power & Utilities Corp has a Quality Score of 36/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Algonquin Power & Utilities Corp (AQN)?
Our model-based price target is the fair value of $4.45 (as of Sep 23, 2026) from 14 valuation models. Cautious scenario $4.04, optimistic scenario $4.99. It is a calculation from audited fundamentals, not an analyst target.
What is the Algonquin Power & Utilities Corp stock forecast for 2026?
Our models put fair value at $4.45, about −12% upside versus a price of $5.06 (overvalued). Cautious scenario $4.04, optimistic scenario $4.99. The calculation is refreshed regularly with new filings.
What is the revenue of Algonquin Power & Utilities Corp (AQN)?
Algonquin Power & Utilities Corp reported trailing-twelve-month revenue of about $2.5B (latest available figure, as of Sep 23, 2026).
Does Algonquin Power & Utilities Corp pay a dividend?
Algonquin Power & Utilities Corp currently shows a dividend yield of about 5.14% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Algonquin Power & Utilities Corp (AQN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Algonquin Power & Utilities Corp it is $4.45 per share (as of Sep 23, 2026), against a price of $5.06. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Algonquin Power & Utilities Corp stock overvalued or undervalued in 2026?
As of Sep 23, 2026, AQN trades above its calculated fair value: price $5.06, fair value $4.45, a gap of about −12% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AQN?
No. The price is what the market pays today ($5.06); the fair value is what the company's own numbers justify ($4.45). For Algonquin Power & Utilities Corp the two are $0.6100 per share apart. That gap is exactly why we show both numbers side by side.
How much is Algonquin Power & Utilities Corp worth?
The market values Algonquin Power & Utilities Corp at about $4.5B (market capitalisation, as of Sep 23, 2026). Per share that is $5.06; our models calculate a fair value of $4.45 per share.
What do the bullish and bearish scenarios say about AQN?
Our models span a range for Algonquin Power & Utilities Corp: cautious scenario $4.04, base $4.45, optimistic $4.99 per share (as of Sep 23, 2026, price $5.06). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AQN?
Algonquin Power & Utilities Corp trades at a price-to-earnings ratio of 19.5 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $4.45 is built from several models across several years. Other multiples: P/B 1.0, P/S 1.8, EV/EBITDA 11.4.
How solid is the balance sheet of Algonquin Power & Utilities Corp (AQN)?
Balance-sheet figures for Algonquin Power & Utilities Corp (as of Sep 23, 2026): return on equity 2.7%, debt of 1.33 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is AQN from its 52-week high?
Algonquin Power & Utilities Corp trades at $5.06, about 26% below its 52-week high of $6.83 and at the low of $5.06 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $4.45 is for.
Which stocks are comparable to Algonquin Power & Utilities Corp?
From the same area (Utilities) we also value Iberdrola, S.A, Enel SpA, Engie SA, Sempra, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Algonquin Power & Utilities Corp stock attractive at the current price?
The data as of Sep 23, 2026: price $5.06, calculated fair value $4.45 (−12%), Quality Score 36/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AQN calculated?
We run Algonquin Power & Utilities Corp through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $4.45, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Algonquin Power & Utilities Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Algonquin Power & Utilities Corp (AQN)?
The closing price on Sep 23, 2026 was $5.06. Our model-based fair value is $4.45, about −12% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Algonquin Power & Utilities Corp right now?
The price sits above our optimistic bull case: the favourable scenario is already priced in. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Algonquin Power & Utilities Corp (AQN) come from?
Earnings per share at Algonquin Power & Utilities Corp grew −8.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.5 %, EBIT margin +1.4 %, tax rate +1.5 %, residual (interest, one-offs) −11.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Algonquin Power & Utilities Corp
How large is the market capitalisation of Algonquin Power & Utilities Corp (AQN)?
The market capitalisation of Algonquin Power & Utilities Corp is $4.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Algonquin Power & Utilities Corp (AQN)?
The price-to-sales ratio of Algonquin Power & Utilities Corp is 1.45 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Algonquin Power & Utilities Corp (AQN)?
Earnings per share at Algonquin Power & Utilities Corp are $0.2600 (price ÷ EPS = P/E 19.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Algonquin Power & Utilities Corp (AQN)?
The dividend yield of Algonquin Power & Utilities Corp is 5.1% (payout 100%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Algonquin Power & Utilities Corp (AQN)?
The net margin of Algonquin Power & Utilities Corp is 7.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Algonquin Power & Utilities Corp (AQN)?
The return on equity (ROE) of Algonquin Power & Utilities Corp is 2.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Algonquin Power & Utilities Corp (AQN)?
On an EBIT basis the return on assets of Algonquin Power & Utilities Corp is 2.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Algonquin Power & Utilities Corp (AQN)?
The operating margin of Algonquin Power & Utilities Corp is 22.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Algonquin Power & Utilities Corp (AQN)?
Revenue at Algonquin Power & Utilities Corp is growing +14.4% versus a year earlier (3y avg −4.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Algonquin Power & Utilities Corp (AQN)?
Earnings per share at Algonquin Power & Utilities Corp are growing −10.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Algonquin Power & Utilities Corp (AQN) generate?
The free cash flow of Algonquin Power & Utilities Corp is −$181M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Algonquin Power & Utilities Corp (AQN) carry?
The net debt of Algonquin Power & Utilities Corp is $6.5B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Sep 23, 2026