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Key Info

Alliant Energy Corp Web - www.alliantenergy.com

Tel - 1-608-458-3311

Next Reporting Date - 20.02.2020

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Electric Utilities Sector Link to Midlincoln Rural Investment Banking Ideas

From Water into Utilities Sector

Heating, Water, ElectrInstallation and Repair


Rural Investment Banking Craft News

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  • Water Stations Fight Obesity by Curbing San Francisco's Thirst for ... UCSF News Services

    Alliant Energy Corp

    Utilities

    UNITED STATES


    DCF Model Assumptions

    Risk Free Rate

    2.00%

    Country Equity Risk Premium

    6.00%

    Cost of Debt

    5.24%

    Cost of Debt

    5.24%

    Long Term Growth

    2.00%

    Beta Assumption

    0.26

    Current Market Cap mln$

    14,580.74

    Net Debt mln$

    6,564.80

    WACC Estimate

    4.08%

    Ordinary Current Price $

    59.74

    DCF Model

    DCF20152016201720182019F2020F2021F2022F2023F2024F2025F2026F2027F2028F2029F
    Revenue3253.603320.003382.203534.503624.953727.113826.523923.034023.494127.434234.064343.444455.654570.754688.83
    EBITDA Costs2275.302371.402249.202333.202331.042340.672350.032359.122368.582377.962387.382396.832406.322415.852425.41
    EBITDA978.30948.601133.001201.301293.901386.441476.491563.911654.911749.471846.681946.612049.332154.902263.42
    EBITDA Margin30.0728.5733.5033.9935.6937.2038.5939.8641.1342.3943.6144.8245.9947.1548.27
    Operating Costs2676.602783.002711.002840.102876.502926.632975.403022.763072.053122.113172.993224.703277.253330.653384.93
    Operating Profit577.00537.00671.20694.40748.44800.48851.11900.27951.441005.321061.071118.741178.401240.101303.90
    Operating Margin17.7316.1719.8519.6520.6521.4822.2422.9523.6524.3625.0625.7626.4527.1327.81
    Pretax Costs2792.302876.602849.402964.503010.813067.533122.723176.303232.073288.863346.643405.443465.273526.153588.11
    PTP461.30443.40532.80570.00614.14659.58703.80746.73791.42838.57887.42938.00990.381044.601100.72
    Pretax Margin14.1813.3615.7516.1316.9417.7018.3919.0319.6720.3220.9621.6022.2322.8523.48
    Net Income Costs2862.102897.202937.503028.003081.483142.323201.523258.993318.813379.813441.943505.213569.643635.263702.08
    Net Income391.50422.80444.70506.50543.46584.79625.00664.04704.68747.62792.11838.23886.00935.49986.75
    Net Margin12.0312.7313.1514.3314.9915.6916.3316.9317.5118.1118.7119.3019.8820.4721.04
    Revenue Less Capex4287.904516.804849.105168.405499.145820.396132.976436.466752.367095.087455.207833.608231.218648.999087.98
    Capex-1034.30-1196.80-1466.90-1633.90-1874.19-2093.28-2306.46-2513.43-2728.87-2967.65-3221.14-3490.16-3775.56-4078.24-4399.15
    Capex to Revenues-31.79-36.05-43.37-46.23-51.70-56.16-60.28-64.07-67.82-71.90-76.08-80.35-84.74-89.22-93.82
    Revenue less FCF3416.703657.204327.504640.705144.905604.106050.916484.726936.277447.377996.148585.349217.959897.1810626.46
    FCF-163.10-337.20-945.30-1106.20-1519.95-1876.99-2224.40-2561.69-2912.78-3319.94-3762.08-4241.90-4762.31-5326.43-5937.63
    FCF to Revenue-5.01-10.16-27.95-31.30-41.93-50.36-58.13-65.30-72.39-80.44-88.85-97.66-106.88-116.53-126.63

    UNITED STATES Comparables

    tickercompanycountry Market Cap
    2019
    PE RATIO
    2019
    PE RATIO
    2020
    EV/EBITDA
    2019
    EV/EBITDA
    2020
    P/S
    2019
    DIVIDEND YIELD
    2019
    EBITDA Margin
    2019
    P/B
    2019
    ROE
    2019
    6 month return
    2019
    NEE USNextEra Energy IncUNITED STATES 136186.7832.0930.716.8116.744.922.0651.193.210.5916.81
    DUK USDuke Energy CorpUNITED STATES 74238.2418.0219.5612.912.532.491.0440.91.498.367
    D USDominion Energy IncUNITED STATES 72504.3418.5919.95-12.973.54.4633.862.145.554.39
    SO USSouthern Co/TheUNITED STATES 72383.6222.2821.7313.7713.483.273.5739.32.5211.7418.27
    AEP USAmerican Electric Power Co IncUNITED STATES 51252.4424.5923.6114.2413.133.162.6134.492.5910.711.51
    EXC USExelon CorpUNITED STATES 48264.8214.6716.128.229.751.213.1829.481.379.32-2.74
    SRE USSempra EnergyUNITED STATES 45373.9725.8522.517.1915.753.782.4136.672.619.9816.98
    XEL USXcel Energy IncUNITED STATES 36843.5124.0525.17-12.922.182.5533.56-10.7813.11
    WEC USWEC Energy Group IncUNITED STATES 32133.4225.7627.2417.0616.242.852.5632.672.8811.417.69
    ED USConsolidated Edison IncUNITED STATES 31348.1921.9320.9212.0311.32.473.1434.061.738.078.15
    PEG USPublic Service Enterprise Group IncUNITED STATES 29574.8818.0117.1512.0511.12.893.2136.711.9711.164.49
    FE USFirstEnergy CorpUNITED STATES 28241.4918.9620.9512.4112.41.643.1534.223.7713.2417.59
    EIX USEdison InternationalUNITED STATES 27662.4916.1716.8611.179.432.133.233.012.0612.715.65
    PPL USPPL CorpUNITED STATES 27137.0314.6414.0312.0811.012.564.653.032.1214.17-3.08
    ETR USEntergy CorpUNITED STATES 26705.5625.0123.8113.9212.472.492.7430.392.711.2322.52
    DTE USDTE Energy CoUNITED STATES 25745.9220.6320.2313.8912.61.42.9624.242.1410.674.99
    AWK USAmerican Water Works Co IncUNITED STATES 25185.7438.5635.8518.6317.366.941.4150.594.0810.8616.09
    AEE USAmeren CorpUNITED STATES 21352.9326.4225.0913.2512.263.412.2237.422.6610.236.08
    CMS USCMS Energy CorpUNITED STATES 19448.7725.2525.6513.8313.32.042.4332.753.5613.9212.49
    LNT USAlliant Energy CorpUNITED STATES 14580.7426.0124.7816.1514.884.052.3836.372.8111.0810.69
    AES USAES Corp/VAUNITED STATES 13895.2715.4914.3410.389.281.262.6330.934.0924.43-13.03
    CNP USCenterPoint Energy IncUNITED STATES 13622.0916.117.1410.3810.391.044.2321.521.8311.04-1.05
    PNW USPinnacle West Capital CorpUNITED STATES 11289.4221.3620.6312.5311.333.133.0137.372.089.91-1.44
    NI USNiSource IncUNITED STATES 11284.7623.2721.8611.9411.552.112.6633.862.069.285.85
    NRG USNRG Energy IncUNITED STATES 10078.8711.538.968.198.010.980.318.96--80.07-8.62
    PCG USPG&E CorpUNITED STATES 8573.524.154.578.44.460.49020.460.7814.3-48.6
    MDU USMDU Resources Group IncUNITED STATES 6396.2517.5818.89-11.51.032.73---10.31
    TERP USTerraForm Power IncUNITED STATES 4668.03-121.6614.9513.874.693.9476.21.6-2.5940.5
    PEGI USPattern Energy Group IncUNITED STATES 2708.8719737.5216.2913.525.186.1372.83.39-5.4230.73
    CPN USCalpine CorpUNITED STATES ------33.83-10.38#N/A N/A

    International Comparables

    tickercompanycountryMarket Cap
    2019
    PE RATIO
    2019
    PE RATIO
    2020
    EV/EBITDA
    2019
    EV/EBITDA
    2020
    P/S
    2019
    DIVIDEND YIELD
    2019
    EBITDA Margin
    2019
    P/B
    2019
    ROE
    2019
    6 month return
    2019
    ENEL IMEnel SpAITALY 91238.1917.4915.798.678.321.053.9922.342.6212.6620.84
    IBE SMIberdrola SASPAIN 75903.2920.4519.1212.0111.261.873.5226.81.768.8421.34
    EDF FPElectricite de France SAFRANCE 44059.335.9915.785.35.090.63.3221.160.6610.04-18.61
    3 HKHong Kong & China Gas Co LtdHONG KONG 33254.3231.429.522725.486.292.3526.853.9212.54-3.71
    EOAN GRE.ON SEGERMANY 32042.4117.2416.8711.198.350.94.1115.833.522.33-6.34
    2 HKCLP Holdings LtdHONG KONG 26836.9918.5117.4812.8311.122.473.7825.281.898.14-9.62
    SSE LNSSE PLCBRITAIN 22229.598.7819.469.7313.790.478.2131.522.6632.27-4.57
    RWE GRRWE AGGERMANY 22174.1619.8219.929.576.541.542.4115.851.49.1619.72
    FTS CNFortis Inc/CanadaCANADA 20432.8321.1621.8111.6612.692.33.4449.781.4810.416.05
    384 HKChina Gas Holdings LtdHONG KONG 20224.6416.9316.214.6613.182.681.5920.014.0825.797.79
    EDP GREDP - Energias de Portugal SAPORTUGAL 18836.221.320.74001.07421.881.946.87.73
    VER AVVerbund AGAUSTRIA 17723.3728.9723.6715.4112.974.711.5434.972.8510.3818.51
    VIE FPVeolia Environnement SAFRANCE 17287.1321.8520.37.527.350.593.4914.482.5912.4111.15
    TNB MKTenaga Nasional BhdMALAYSIA 17147.7812.6912.348.117.911.44.3832.711.159.278.63
    NTPC INNTPC LtdINDIA 15284.188.798.514.719.51.624.4320.921.2111.84-7.9
    015760 KSKorea Electric Power CorpSOUTH KOREA 14133.84-18.918.156.280.282.1917.240.25-2.24-31.21
    TRN IMTerna Rete Elettrica Nazionale SpAITALY 14112.2617.6517.1312.2711.965.73.8475.333.0317.74.72
    PWGR INPower Grid Corp of India LtdINDIA 13416.968.248.738.236.913.382.9586.761.7517.681.58
    270 HKGuangdong Investment LtdHONG KONG 13316.920.3118.1213.0611.116.993.6355.492.4612.3710.58
    2688 HKENN Energy Holdings LtdCHINA 13013.1717.2814.9510.959.51.211.7613.053.6221.820.66
    EDRVF USEDP Renovaveis SASPAIN 11741.2727.2832.75005.760.6783.211.566.35#N/A N/A
    1193 HKChina Resources Gas Group LtdHONG KONG 11640.2217.6115.779.658.841.592.2517.673.2619.4914.82
    CEZ GRCEZ ASCZECH 11598.9815.0111.84001.295.4928.231.17.31-3.34
    ELET3 BZCentrais Eletricas Brasileiras SABRAZIL 11474.759.118.839.977.41.793.0131.80.816.7418.69
    ELET6 BZCentrais Eletricas Brasileiras SABRAZIL 11474.759.729.419.977.41.793.1631.80.866.7417.81
    REE SMRed Electrica Corp SASPAIN 11190.314.415.459.919.685.145.5178.642.920.62-2.98
    9503 JPKansai Electric Power Co Inc/TheJAPAN 10778.312.677.499.249.820.393.0616.920.967.75-17.49
    IRAO RMInter RAO UES PJSCRUSSIA 10544.276.145.883.593.530.663.1813.170.8415.7823.76
    9502 JPChubu Electric Power Co IncJAPAN 10510.7216.476.7310.0711.590.42.612.60.744.53-8.48
    SBSP3 BZCia de Saneamento Basico do Estado de Sao PauloBRAZIL 10248.1216.116.248.678.482.811.6140.54213.0913.44

    EV, Debt, Cash

    Fields2018
    EV21145.54
    Cash20.9
    Debt5944
    Debt/Equity107.28
    Pref Equity200
    Shares Out236.06
    minorities0

    Last Price

    Fields2018
    Last Price59.74
    Next DVD Ex Date29.04.2020
    DVD Announcement Date06.11.2019
    Last Ex Date30.01.2020

    CashflowSummary

    Fields201520162017201820192020
    Revenue3253.633203382.23534.535983735.167
    Operating Profit577537671.2694.4801.25917
    PTP461.3443.4532.8570625689.2
    Net Income391.5422.8444.7506.5551.833597
    EPS1.7451.881.932.172.2972.411
    DPS1.11.1751.261.341.4221.52
    EBITDA978.3948.611331201.31308.51420
    BPS15.5302500916.0844258218.0774777519.4257235621.2622.72
    Capex-1034.3-1196.8-1466.9-1633.9-1610-1336.5
    FCF-163.099998-337.2-945.3-1106.2-629.581-208.913
    EV TO T12M EBIT19.5424.9222.8123.1823.1823.18
    EV/EBITDA11.5314.1113.5113.416.1514.88
    CUR RATIO0.610.750.420.480.480.48

    Ratios

    Fields201520162017201820192020
    Market Cap14580.7414580.7414580.7414580.7414580.7414580.74
    PE RATIO17.4720.2421.8119.5126.0124.78
    EV/EBITDA11.5314.1113.5113.416.1514.88
    P/S2.162.592.792.894.053.9
    DIVIDEND YIELD3.523.12.963.172.382.54
    EBITDA Margin30.0728.5733.533.9936.370.25
    P/B2.012.362.362.172.812.63
    ROE10.8610.3411.6611.6811.0810.87
    6 month return10.6910.6910.6910.6910.6910.69