Intrinsic value of IDACORP - IDA

Previous Close

$96.64

  Intrinsic Value

$15.20

stock screener

  Rating & Target

str. sell

-84%

Previous close

$96.64

 
Intrinsic value

$15.20

 
Up/down potential

-84%

 
Rating

str. sell

We calculate the intrinsic value of IDA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -0.63
  6.90
  6.71
  6.54
  6.39
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.43
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
Revenue, $m
  1,258
  1,442
  1,539
  1,639
  1,744
  1,853
  1,967
  2,085
  2,208
  2,336
  2,470
  2,610
  2,756
  2,909
  3,068
  3,235
  3,410
  3,592
  3,783
  3,983
  4,192
  4,412
  4,641
  4,882
  5,135
  5,399
  5,676
  5,967
  6,272
  6,592
  6,927
Variable operating expenses, $m
 
  823
  879
  936
  996
  1,058
  1,123
  1,190
  1,261
  1,334
  1,411
  1,490
  1,574
  1,661
  1,752
  1,847
  1,947
  2,051
  2,160
  2,274
  2,394
  2,519
  2,650
  2,788
  2,932
  3,083
  3,241
  3,407
  3,581
  3,764
  3,956
Fixed operating expenses, $m
 
  274
  280
  286
  292
  299
  305
  312
  319
  326
  333
  340
  348
  356
  363
  371
  380
  388
  397
  405
  414
  423
  433
  442
  452
  462
  472
  482
  493
  504
  515
Total operating expenses, $m
  990
  1,097
  1,159
  1,222
  1,288
  1,357
  1,428
  1,502
  1,580
  1,660
  1,744
  1,830
  1,922
  2,017
  2,115
  2,218
  2,327
  2,439
  2,557
  2,679
  2,808
  2,942
  3,083
  3,230
  3,384
  3,545
  3,713
  3,889
  4,074
  4,268
  4,471
Operating income, $m
  272
  345
  380
  417
  456
  496
  538
  582
  628
  676
  727
  779
  834
  892
  953
  1,016
  1,083
  1,153
  1,226
  1,303
  1,384
  1,469
  1,559
  1,652
  1,751
  1,854
  1,963
  2,078
  2,198
  2,324
  2,457
EBITDA, $m
  419
  797
  862
  931
  1,002
  1,077
  1,154
  1,235
  1,320
  1,408
  1,501
  1,597
  1,698
  1,804
  1,914
  2,030
  2,151
  2,278
  2,412
  2,551
  2,698
  2,852
  3,013
  3,182
  3,360
  3,546
  3,742
  3,947
  4,163
  4,389
  4,627
Interest expense (income), $m
  78
  94
  109
  123
  139
  155
  171
  188
  206
  225
  245
  265
  286
  309
  332
  356
  381
  408
  436
  465
  495
  527
  560
  595
  632
  670
  710
  753
  797
  843
  892
Earnings before tax, $m
  235
  250
  272
  294
  317
  342
  367
  394
  422
  451
  482
  514
  548
  584
  621
  660
  702
  745
  791
  839
  889
  942
  998
  1,057
  1,119
  1,184
  1,253
  1,325
  1,401
  1,481
  1,565
Tax expense, $m
  37
  68
  73
  79
  86
  92
  99
  106
  114
  122
  130
  139
  148
  158
  168
  178
  189
  201
  214
  226
  240
  254
  270
  285
  302
  320
  338
  358
  378
  400
  423
Net income, $m
  198
  183
  198
  215
  232
  249
  268
  287
  308
  329
  352
  375
  400
  426
  453
  482
  512
  544
  577
  612
  649
  688
  729
  772
  817
  864
  915
  967
  1,023
  1,081
  1,143

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  61
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  6,290
  6,467
  6,901
  7,352
  7,821
  8,310
  8,819
  9,349
  9,901
  10,477
  11,078
  11,705
  12,360
  13,045
  13,760
  14,508
  15,290
  16,108
  16,965
  17,861
  18,800
  19,784
  20,814
  21,893
  23,025
  24,211
  25,455
  26,759
  28,126
  29,560
  31,065
Adjusted assets (=assets-cash), $m
  6,229
  6,467
  6,901
  7,352
  7,821
  8,310
  8,819
  9,349
  9,901
  10,477
  11,078
  11,705
  12,360
  13,045
  13,760
  14,508
  15,290
  16,108
  16,965
  17,861
  18,800
  19,784
  20,814
  21,893
  23,025
  24,211
  25,455
  26,759
  28,126
  29,560
  31,065
Revenue / Adjusted assets
  0.202
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
Average production assets, $m
  428
  4,518
  4,821
  5,136
  5,464
  5,806
  6,161
  6,531
  6,917
  7,320
  7,740
  8,178
  8,636
  9,114
  9,613
  10,136
  10,682
  11,254
  11,852
  12,479
  13,135
  13,822
  14,542
  15,296
  16,087
  16,915
  17,784
  18,695
  19,651
  20,653
  21,704
Working capital, $m
  190
  4
  5
  5
  5
  6
  6
  6
  7
  7
  7
  8
  8
  9
  9
  10
  10
  11
  11
  12
  13
  13
  14
  15
  15
  16
  17
  18
  19
  20
  21
Total debt, $m
  1,767
  2,013
  2,285
  2,569
  2,863
  3,170
  3,490
  3,823
  4,170
  4,531
  4,909
  5,303
  5,714
  6,144
  6,593
  7,063
  7,554
  8,068
  8,605
  9,169
  9,758
  10,376
  11,023
  11,701
  12,411
  13,156
  13,937
  14,756
  15,615
  16,516
  17,461
Total liabilities, $m
  4,136
  4,061
  4,334
  4,617
  4,912
  5,219
  5,538
  5,871
  6,218
  6,580
  6,957
  7,351
  7,762
  8,192
  8,641
  9,111
  9,602
  10,116
  10,654
  11,217
  11,806
  12,424
  13,071
  13,749
  14,460
  15,205
  15,986
  16,804
  17,663
  18,564
  19,509
Total equity, $m
  2,154
  2,406
  2,567
  2,735
  2,910
  3,091
  3,281
  3,478
  3,683
  3,897
  4,121
  4,354
  4,598
  4,853
  5,119
  5,397
  5,688
  5,992
  6,311
  6,644
  6,994
  7,359
  7,743
  8,144
  8,565
  9,007
  9,469
  9,954
  10,463
  10,997
  11,556
Total liabilities and equity, $m
  6,290
  6,467
  6,901
  7,352
  7,822
  8,310
  8,819
  9,349
  9,901
  10,477
  11,078
  11,705
  12,360
  13,045
  13,760
  14,508
  15,290
  16,108
  16,965
  17,861
  18,800
  19,783
  20,814
  21,893
  23,025
  24,212
  25,455
  26,758
  28,126
  29,561
  31,065
Debt-to-equity ratio
  0.820
  0.840
  0.890
  0.940
  0.980
  1.030
  1.060
  1.100
  1.130
  1.160
  1.190
  1.220
  1.240
  1.270
  1.290
  1.310
  1.330
  1.350
  1.360
  1.380
  1.400
  1.410
  1.420
  1.440
  1.450
  1.460
  1.470
  1.480
  1.490
  1.500
  1.510
Adjusted equity ratio
  0.340
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372
  0.372

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  198
  183
  198
  215
  232
  249
  268
  287
  308
  329
  352
  375
  400
  426
  453
  482
  512
  544
  577
  612
  649
  688
  729
  772
  817
  864
  915
  967
  1,023
  1,081
  1,143
Depreciation, amort., depletion, $m
  147
  452
  482
  514
  546
  581
  616
  653
  692
  732
  774
  818
  864
  911
  961
  1,014
  1,068
  1,125
  1,185
  1,248
  1,313
  1,382
  1,454
  1,530
  1,609
  1,692
  1,778
  1,870
  1,965
  2,065
  2,170
Funds from operations, $m
  340
  635
  680
  728
  778
  830
  884
  941
  1,000
  1,061
  1,126
  1,193
  1,264
  1,338
  1,415
  1,496
  1,581
  1,669
  1,763
  1,860
  1,963
  2,070
  2,183
  2,301
  2,426
  2,556
  2,693
  2,837
  2,988
  3,146
  3,313
Change in working capital, $m
  -8
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
  1
Cash from operations, $m
  348
  634
  680
  728
  778
  830
  884
  940
  999
  1,061
  1,125
  1,193
  1,263
  1,337
  1,414
  1,495
  1,580
  1,669
  1,762
  1,860
  1,962
  2,070
  2,182
  2,301
  2,425
  2,555
  2,692
  2,836
  2,987
  3,145
  3,312
Maintenance CAPEX, $m
  0
  -423
  -452
  -482
  -514
  -546
  -581
  -616
  -653
  -692
  -732
  -774
  -818
  -864
  -911
  -961
  -1,014
  -1,068
  -1,125
  -1,185
  -1,248
  -1,313
  -1,382
  -1,454
  -1,530
  -1,609
  -1,692
  -1,778
  -1,870
  -1,965
  -2,065
New CAPEX, $m
  -297
  -290
  -303
  -315
  -328
  -341
  -355
  -370
  -386
  -402
  -420
  -438
  -458
  -478
  -500
  -522
  -546
  -572
  -598
  -626
  -656
  -687
  -720
  -754
  -791
  -829
  -869
  -911
  -955
  -1,002
  -1,051
Cash from investing activities, $m
  -297
  -713
  -755
  -797
  -842
  -887
  -936
  -986
  -1,039
  -1,094
  -1,152
  -1,212
  -1,276
  -1,342
  -1,411
  -1,483
  -1,560
  -1,640
  -1,723
  -1,811
  -1,904
  -2,000
  -2,102
  -2,208
  -2,321
  -2,438
  -2,561
  -2,689
  -2,825
  -2,967
  -3,116
Free cash flow, $m
  51
  -79
  -75
  -70
  -64
  -58
  -52
  -46
  -40
  -33
  -26
  -19
  -12
  -5
  3
  11
  20
  29
  38
  48
  58
  69
  80
  92
  105
  118
  132
  146
  162
  178
  196
Issuance/(repayment) of debt, $m
  21
  267
  273
  283
  295
  307
  319
  333
  347
  362
  377
  394
  411
  430
  449
  470
  491
  514
  538
  563
  590
  618
  647
  678
  711
  745
  781
  819
  859
  901
  945
Issuance/(repurchase) of shares, $m
  -3
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1
  267
  273
  283
  295
  307
  319
  333
  347
  362
  377
  394
  411
  430
  449
  470
  491
  514
  538
  563
  590
  618
  647
  678
  711
  745
  781
  819
  859
  901
  945
Total cash flow (excl. dividends), $m
  52
  188
  198
  214
  231
  249
  267
  287
  307
  329
  351
  374
  399
  425
  452
  481
  511
  543
  576
  611
  648
  687
  727
  770
  815
  863
  913
  965
  1,021
  1,079
  1,140
Retained Cash Flow (-), $m
  -96
  -155
  -161
  -168
  -175
  -182
  -189
  -197
  -205
  -214
  -224
  -233
  -244
  -255
  -266
  -278
  -291
  -304
  -319
  -334
  -349
  -366
  -383
  -402
  -421
  -441
  -463
  -485
  -509
  -534
  -560
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  34
  36
  46
  56
  67
  78
  90
  102
  114
  127
  141
  156
  171
  186
  203
  220
  238
  257
  277
  299
  321
  344
  369
  394
  422
  450
  480
  512
  545
  581
Discount rate, %
 
  6.70
  7.04
  7.39
  7.76
  8.14
  8.55
  8.98
  9.43
  9.90
  10.39
  10.91
  11.46
  12.03
  12.63
  13.27
  13.93
  14.63
  15.36
  16.12
  16.93
  17.78
  18.67
  19.60
  20.58
  21.61
  22.69
  23.82
  25.01
  26.26
  27.58
PV of cash for distribution, $m
 
  31
  32
  37
  42
  45
  48
  49
  49
  49
  47
  45
  42
  39
  35
  31
  27
  23
  20
  16
  13
  10
  8
  6
  4
  3
  2
  1
  1
  1
  0
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

IDACORP, Inc. is a holding company. The Company's principal operating subsidiary is Idaho Power Company (Idaho Power). The Company's segment is utility operations. The utility operations segment's primary source of revenue is the regulated operations of Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity. Idaho Power is the parent of Idaho Energy Resources Co. (IERCo), a joint venturer in Bridger Coal Company, which mines and supplies coal to the Jim Bridger generating plant owned in part by Idaho Power. Its subsidiaries also include IDACORP Financial Services, Inc., an investor in affordable housing and other real estate investments, and Ida-West Energy Company, an operator of small hydroelectric generation projects. As of December 31, 2016, Idaho Power provided electric utility service to approximately 535,000 general business customers in southern Idaho and eastern Oregon.

FINANCIAL RATIOS  of  IDACORP (IDA)

Valuation Ratios
P/E Ratio 24.6
Price to Sales 3.9
Price to Book 2.3
Price to Tangible Book
Price to Cash Flow 14
Price to Free Cash Flow 95.5
Growth Rates
Sales Growth Rate -0.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 1%
Cap. Spend. - 3 Yr. Gr. Rate 3.8%
Financial Strength
Quick Ratio 3
Current Ratio 0.6
LT Debt to Equity 81%
Total Debt to Equity 82%
Interest Coverage 4
Management Effectiveness
Return On Assets 4.3%
Ret/ On Assets - 3 Yr. Avg. 4.5%
Return On Total Capital 5.1%
Ret/ On T. Cap. - 3 Yr. Avg. 5.3%
Return On Equity 9.4%
Return On Equity - 3 Yr. Avg. 9.8%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 36.5%
EBITDA Margin - 3 Yr. Avg. 35.3%
Operating Margin 21.6%
Oper. Margin - 3 Yr. Avg. 21.2%
Pre-Tax Margin 18.6%
Pre-Tax Margin - 3 Yr. Avg. 18%
Net Profit Margin 15.7%
Net Profit Margin - 3 Yr. Avg. 15.4%
Effective Tax Rate 15.7%
Eff/ Tax Rate - 3 Yr. Avg. 14.3%
Payout Ratio 53%

IDA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the IDA stock intrinsic value calculation we used $1349 million for the last fiscal year's total revenue generated by IDACORP. The default revenue input number comes from 2016 income statement of IDACORP. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our IDA stock valuation model: a) initial revenue growth rate of 6.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.7%, whose default value for IDA is calculated based on our internal credit rating of IDACORP, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of IDACORP.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of IDA stock the variable cost ratio is equal to 57.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $268 million in the base year in the intrinsic value calculation for IDA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for IDACORP.

Corporate tax rate of 27% is the nominal tax rate for IDACORP. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the IDA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for IDA are equal to 313.3%.

Life of production assets of 10 years is the average useful life of capital assets used in IDACORP operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for IDA is equal to 0.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2251 million for IDACORP - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 50 million for IDACORP is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of IDACORP at the current share price and the inputted number of shares is $4.8 billion.

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COMPANY NEWS

▶ Is IdaCorp (IDA) a Great Dividend Play?   [Aug-13-18 09:15AM  Zacks]
▶ IDACORP, Inc. to Host Earnings Call   [Aug-02-18 02:30PM  ACCESSWIRE]
▶ IdaCorp: 2Q Earnings Snapshot   [09:55AM  Associated Press]
▶ IDACORP, Inc. Declares Dividend   [Jul-19-18 05:58PM  PR Newswire]
▶ How Does IDACORP Inc (NYSE:IDA) Fare As A Dividend Stock?   [Jun-21-18 01:46PM  Simply Wall St.]
▶ How Should You Think About Idea Bank SA.s (WSE:IDA) Risks?   [May-21-18 03:03AM  Simply Wall St.]
▶ IdaCorp: 1Q Earnings Snapshot   [May-03-18 08:46AM  Associated Press]
▶ IDACORP, Inc. Declares Dividend   [Apr-19-18 06:03PM  PR Newswire]
▶ IDACORP, Inc. to Host Earnings Call   [Feb-22-18 12:10PM  ACCESSWIRE]
▶ IdaCorp beats 4Q profit forecasts   [09:47AM  Associated Press]
▶ IDACORP, Inc. Declares Dividend   [Jan-18-18 05:39PM  PR Newswire]
▶ IdaCorp beats 3Q profit forecasts   [Nov-02-17 09:49AM  Associated Press]
▶ IDACORP, Inc. Declares Dividend   [05:52PM  PR Newswire]
▶ Stocks Generating Improved Relative Strength: Idacorp   [Sep-06-17 03:00AM  Investor's Business Daily]
▶ ETFs with exposure to IDACORP, Inc. : August 31, 2017   [Aug-31-17 06:52PM  Capital Cube]
▶ IDACORP, Inc. Value Analysis (NYSE:IDA) : August 5, 2017   [Aug-04-17 08:56PM  Capital Cube]
▶ ETFs with exposure to IDACORP, Inc. : August 4, 2017   [Aug-03-17 08:27PM  Capital Cube]
▶ IDACORP, Inc. Declares Dividend   [Jul-20-17 05:52PM  PR Newswire]
▶ ETFs with exposure to IDACORP, Inc. : July 4, 2017   [Jul-04-17 03:03PM  Capital Cube]
▶ ETFs with exposure to IDACORP, Inc. : June 22, 2017   [Jun-22-17 03:52PM  Capital Cube]
▶ IDACORP, Inc. Value Analysis (NYSE:IDA) : May 5, 2017   [May-05-17 05:05PM  Capital Cube]
Financial statements of IDA
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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