This page shows Allete Inc (ALE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Allete Inc has an operating margin of 10.5%, meaning the company retains $10 of operating profit per $100 of revenue. This results in a moderate score of 45/100, indicating healthy but not exceptional operating efficiency. This is up from 9.6% the prior year.
Allete Inc's revenue declined 18.6% year-over-year, from $1.9B to $1.5B. This contraction results in a growth score of 2/100.
Allete Inc carries a low D/E ratio of 0.60, meaning only $0.60 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.
Allete Inc's current ratio of 1.08 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 17/100, which could limit financial flexibility.
Allete Inc has a free cash flow margin of 6.7%, earning a moderate score of 42/100. The company generates positive cash flow after capital investments, but with room for improvement.
Allete Inc generates a 6.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 25/100. This is down from 8.8% the prior year.
Allete Inc scores 1.23, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($3.9B) relative to total liabilities ($3.4B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Allete Inc passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Allete Inc generates $2.55 in operating cash flow ($457.1M OCF vs $179.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Allete Inc earns $2.0 in operating income for every $1 of interest expense ($160.1M vs $81.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Allete Inc generated $1.5B in revenue in fiscal year 2024. This represents a decrease of 18.6% from the prior year.
Allete Inc's EBITDA was $431.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 0.3% from the prior year.
Allete Inc reported $179.3M in net income in fiscal year 2024. This represents a decrease of 27.4% from the prior year.
Allete Inc earned $3.10 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 27.9% from the prior year.
Cash & Balance Sheet
Allete Inc generated $102.2M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 67.5% from the prior year.
Allete Inc held $32.8M in cash against $1.7B in long-term debt as of fiscal year 2024.
Allete Inc paid $2.82 per share in dividends in fiscal year 2024. This represents an increase of 4.1% from the prior year.
Allete Inc had 58M shares outstanding in fiscal year 2024. This represents an increase of 0.6% from the prior year.
Margins & Returns
Allete Inc's gross margin was 91.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 16.7 percentage points from the prior year.
Allete Inc's operating margin was 10.5% in fiscal year 2024, reflecting core business profitability. This is up 0.9 percentage points from the prior year.
Allete Inc's net profit margin was 11.7% in fiscal year 2024, showing the share of revenue converted to profit. This is down 1.4 percentage points from the prior year.
Allete Inc's ROE was 6.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 2.5 percentage points from the prior year.
Capital Allocation
Allete Inc invested $354.9M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 30.9% from the prior year.
ALE Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $375.0M+4.1% | $360.3M-10.0% | $400.2M+9.7% | $364.8M-10.4% | $407.2M+14.9% | $354.5M-12.1% | $403.3M+0.1% | $402.7M |
| Cost of Revenue | $26.0M+7.0% | $24.3M-2.4% | $24.9M | N/A | $47.0M+47.8% | $31.8M+30.3% | $24.4M | N/A |
| Gross Profit | $349.0M+3.9% | $336.0M-10.5% | $375.3M | N/A | $360.2M+11.6% | $322.7M-14.8% | $378.9M | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | $29.6M+64.4% | $18.0M-66.0% | $53.0M+39.1% | $38.1M-15.9% | $45.3M+54.1% | $29.4M-37.8% | $47.3M+9.7% | $43.1M |
| Interest Expense | $25.6M+10.8% | $23.1M+7.9% | $21.4M | N/A | $20.3M+1.0% | $20.1M-1.5% | $20.4M | N/A |
| Income Tax | $1.6M+366.7% | -$600K-108.0% | $7.5M | N/A | $2.9M+107.1% | $1.4M-65.0% | $4.0M | N/A |
| Net Income | $27.1M-15.0% | $31.9M-43.1% | $56.1M+10.9% | $50.6M+12.4% | $45.0M+36.4% | $33.0M-34.9% | $50.7M-1.6% | $51.5M |
| EPS (Diluted) | $0.46-16.4% | $0.55-43.3% | $0.97+11.5% | $0.87+11.5% | $0.78+36.8% | $0.57-35.2% | $0.88-1.1% | $0.89 |
ALE Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.2B+3.5% | $6.9B+0.7% | $6.9B+1.7% | $6.8B+0.3% | $6.7B+1.1% | $6.7B+0.9% | $6.6B-0.8% | $6.7B |
| Current Assets | $485.0M+7.1% | $452.9M-5.2% | $477.9M+9.8% | $435.2M-10.0% | $483.4M+11.8% | $432.2M-0.2% | $433.2M-7.5% | $468.1M |
| Cash & Equivalents | $78.7M+42.1% | $55.4M-39.8% | $92.0M+180.5% | $32.8M-67.8% | $101.9M+171.7% | $37.5M+17.2% | $32.0M-55.5% | $71.9M |
| Inventory | $184.9M+3.8% | $178.2M+4.1% | $171.1M+10.7% | $154.6M-7.2% | $166.6M-9.6% | $184.3M+0.9% | $182.7M+4.2% | $175.4M |
| Accounts Receivable | N/A | N/A | N/A | $141.4M+3.4% | $136.8M+2.9% | $133.0M-6.5% | $142.2M+10.2% | $129.0M |
| Goodwill | $154.9M0.0% | $154.9M0.0% | $154.9M0.0% | $154.9M0.0% | $154.9M0.0% | $154.9M0.0% | $154.9M0.0% | $154.9M |
| Total Liabilities | $3.8B+7.4% | $3.5B+2.0% | $3.5B+3.4% | $3.4B+0.6% | $3.3B+2.4% | $3.3B+2.2% | $3.2B-1.7% | $3.2B |
| Current Liabilities | $413.2M+22.3% | $337.9M-11.2% | $380.6M-5.8% | $404.2M+20.9% | $334.4M+12.4% | $297.6M+14.1% | $260.8M-30.9% | $377.6M |
| Long-Term Debt | $2.1B+8.6% | $1.9B+5.4% | $1.8B+7.5% | $1.7B-2.2% | $1.7B-0.1% | $1.7B-1.5% | $1.8B+5.5% | $1.7B |
| Total Equity | $2.9B-0.3% | $2.9B-0.1% | $2.9B+0.6% | $2.8B+0.6% | $2.8B+0.3% | $2.8B0.0% | $2.8B+0.5% | $2.8B |
| Retained Earnings | $1.0B-1.5% | $1.0B-1.0% | $1.1B+1.3% | $1.0B+0.9% | $1.0B+0.4% | $1.0B-0.7% | $1.0B+1.0% | $1.0B |
ALE Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $103.4M+162.4% | $39.4M-64.2% | $110.2M+22.7% | $89.8M-52.9% | $190.8M+63.9% | $116.4M+93.7% | $60.1M-8.0% | $65.3M |
| Capital Expenditures | $277.6M+156.3% | $108.3M-29.9% | $154.4M+23.9% | $124.6M+29.4% | $96.3M+31.2% | $73.4M+21.1% | $60.6M-30.4% | $87.1M |
| Free Cash Flow | -$174.2M-152.8% | -$68.9M-55.9% | -$44.2M-27.0% | -$34.8M-136.8% | $94.5M+119.8% | $43.0M+8700.0% | -$500K+97.7% | -$21.8M |
| Investing Cash Flow | -$282.6M-149.0% | -$113.5M+29.2% | -$160.2M-32.6% | -$120.8M-45.4% | -$83.1M-9.3% | -$76.0M-25.0% | -$60.8M+26.7% | -$83.0M |
| Financing Cash Flow | $202.5M+438.6% | $37.6M-57.8% | $89.2M+459.7% | -$24.8M+38.6% | -$40.4M-9.2% | -$37.0M+3.6% | -$38.4M-12.6% | -$34.1M |
| Dividends Paid | $42.4M+0.2% | $42.3M0.0% | $42.3M+3.7% | $40.8M+0.2% | $40.7M0.0% | $40.7M+0.2% | $40.6M+4.1% | $39.0M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ALE Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 93.1%-0.2pp | 93.3%-0.5pp | 93.8% | N/A | 88.5%-2.6pp | 91.0%-2.9pp | 94.0% | N/A |
| Operating Margin | 7.9%+2.9pp | 5.0%-8.2pp | 13.2%+2.8pp | 10.4%-0.7pp | 11.1%+2.8pp | 8.3%-3.4pp | 11.7%+1.0pp | 10.7% |
| Net Margin | 7.2%-1.6pp | 8.8%-5.2pp | 14.0%+0.2pp | 13.9%+2.8pp | 11.1%+1.7pp | 9.3%-3.3pp | 12.6%-0.2pp | 12.8% |
| Return on Equity | 0.9%-0.2pp | 1.1%-0.8pp | 2.0%+0.2pp | 1.8%+0.2pp | 1.6%+0.4pp | 1.2%-0.6pp | 1.8%-0.0pp | 1.8% |
| Return on Assets | 0.4%-0.1pp | 0.5%-0.4pp | 0.8%+0.1pp | 0.8%+0.1pp | 0.7%+0.2pp | 0.5%-0.3pp | 0.8%0.0pp | 0.8% |
| Current Ratio | 1.17-0.2 | 1.34+0.1 | 1.26+0.2 | 1.08-0.4 | 1.450.0 | 1.45-0.2 | 1.66+0.4 | 1.24 |
| Debt-to-Equity | 0.74+0.1 | 0.68+0.0 | 0.64+0.0 | 0.60-0.0 | 0.620.0 | 0.620.0 | 0.63+0.0 | 0.60 |
| FCF Margin | -46.5%-27.3pp | -19.1%-8.1pp | -11.0%-1.5pp | -9.5%-32.8pp | 23.2%+11.1pp | 12.1%+12.3pp | -0.1%+5.3pp | -5.4% |
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Frequently Asked Questions
What is Allete Inc's annual revenue?
Allete Inc (ALE) reported $1.5B in total revenue for fiscal year 2024. This represents a -18.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Allete Inc's revenue growing?
Allete Inc (ALE) revenue declined by 18.6% year-over-year, from $1.9B to $1.5B in fiscal year 2024.
Is Allete Inc profitable?
Yes, Allete Inc (ALE) reported a net income of $179.3M in fiscal year 2024, with a net profit margin of 11.7%.
What is Allete Inc's EBITDA?
Allete Inc (ALE) had EBITDA of $431.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Allete Inc have?
As of fiscal year 2024, Allete Inc (ALE) had $32.8M in cash and equivalents against $1.7B in long-term debt.
What is Allete Inc's gross margin?
Allete Inc (ALE) had a gross margin of 91.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Allete Inc's operating margin?
Allete Inc (ALE) had an operating margin of 10.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Allete Inc's net profit margin?
Allete Inc (ALE) had a net profit margin of 11.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Allete Inc pay dividends?
Yes, Allete Inc (ALE) paid $2.82 per share in dividends during fiscal year 2024.
What is Allete Inc's return on equity (ROE)?
Allete Inc (ALE) has a return on equity of 6.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Allete Inc's free cash flow?
Allete Inc (ALE) generated $102.2M in free cash flow during fiscal year 2024. This represents a -67.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Allete Inc's operating cash flow?
Allete Inc (ALE) generated $457.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Allete Inc's total assets?
Allete Inc (ALE) had $6.8B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Allete Inc's capital expenditures?
Allete Inc (ALE) invested $354.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Allete Inc's current ratio?
Allete Inc (ALE) had a current ratio of 1.08 as of fiscal year 2024, which is considered adequate.
What is Allete Inc's debt-to-equity ratio?
Allete Inc (ALE) had a debt-to-equity ratio of 0.60 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Allete Inc's return on assets (ROA)?
Allete Inc (ALE) had a return on assets of 2.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Allete Inc's Altman Z-Score?
Allete Inc (ALE) has an Altman Z-Score of 1.23, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Allete Inc's Piotroski F-Score?
Allete Inc (ALE) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Allete Inc's earnings high quality?
Allete Inc (ALE) has an earnings quality ratio of 2.55x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Allete Inc cover its interest payments?
Allete Inc (ALE) has an interest coverage ratio of 2.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Allete Inc?
Allete Inc (ALE) scores 37 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.