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Idacorp cash flow, quarter by quarter

Latest: Q4 2025 · from the cash-flow statements filed with the SEC

Free cash flow−$216M in Q4 2025 · −$1.0B over twelve months

Operating cash flow$138M
Capital spending−$354M
Free cash flow−$216M

Analysis

In Q4 2025, Idacorp generated $138M of operating cash flow and spent $354M on capital projects, leaving free cash flow of −$216M. That is $167M less than in Q4 2024 (−$48.9M).

Over the twelve months to Sep 30, 2026, operating cash flow was $516M; the largest uses were capital spending ($1.5B), dividends ($197M), other financing ($24.3M); besides operations, cash came from net borrowing (+) / repaid (−) ($428M), shares issued ($411M); the cash balance fell by $145M.

Operating cash flow was $138M against net income of $43.7M — 3.2× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$68.1M, receivables +$40.5M, income taxes payable −$34.2M.

Free cash flow

Idacorp: free cash flow by quarterIdacorp: free cash flow by quarter−$200MQ2 2024−$16.1MQ3 2024−$48.9MQ4 2024−$77.0MQ1 2025−$156MQ2 2025−$128MQ3 2025−$216MQ4 2025
Operating cash flow less capital spending.
Idacorp: operating cash flow against capital spendingIdacorp: operating cash flow against capital spendingOperating cash flowCapital spending$146M$346MQ2 2024$202M$218MQ3 2024$136M$185MQ4 2024$124M$201MQ1 2025$177M$333MQ2 2025$163M$291MQ3 2025$138M$354MQ4 2025
Latest (Q4 2025): Operating cash flow $138M, Capital spending $354M.

Capital allocation, year by year

Idacorp: where the cash came from (up) and went (down), by fiscal yearIdacorp: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksDividendsFY2021: Operating cash flow $363MFY2021: Capital spending −$300MFY2021: Buybacks −$3.0MFY2021: Dividends −$146M$363MFY2021FY2022: Operating cash flow $351MFY2022: Net borrowing $194MFY2022: Capital spending −$433MFY2022: Buybacks −$3.1MFY2022: Dividends −$154M$545MFY2022FY2023: Operating cash flow $267MFY2023: Net borrowing $647MFY2023: Capital spending −$611MFY2023: Buybacks −$3.3MFY2023: Dividends −$164M$914MFY2023FY2024: Operating cash flow $594MFY2024: Net borrowing $250MFY2024: Shares issued $298MFY2024: Capital spending −$1.0BFY2024: Buybacks −$3.8MFY2024: Dividends −$177M$1.1BFY2024FY2025: Operating cash flow $602MFY2025: Net borrowing $376MFY2025: Shares issued $97.8MFY2025: Capital spending −$1.2BFY2025: Buybacks −$3.3MFY2025: Dividends −$188M$1.1BFY2025
Over these 5 years operating cash flow totalled $2.2B; the largest uses were capital spending ($3.5B) and dividends ($829M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$216M
Debt$3.3B
Net debt$3.1B
Due within a year$116M

Idacorp's operations bring cash in ($516M over twelve months), and it spends more than that on capital projects: a gap of $1.0B funded from its $216M of cash and investments and from borrowing ($3.3B of debt, $116M due within a year). That is a choice to invest, not a cash runway running down.

Idacorp: debt maturities by year (FY2025)Idacorp: debt maturities by year (FY2025)$116MYear 1$80.0MYear 5$3.3BAfter year 5
Principal due in each year as disclosed in the annual report, against $216M of cash and investments now.

Where the cash came from and went

Idacorp: sources (+) and uses (−) of cash, Q4 2025Idacorp: sources (+) and uses (−) of cash, Q4 2025Capital spending−$354MOperating cash flow$138MCash drawn (+) / kept (−)$117MShares issued$93.2MOther investing$55.8MDividends−$48.5MNet borrowing (+) / repaid (−)−$1.4MOther financing−$481K
Idacorp: sources (+) and uses (−) of cash, TTM to Q3 2026Idacorp: sources (+) and uses (−) of cash, TTM to Q3 2026Capital spending−$1.5BOperating cash flow$516MNet borrowing (+) / repaid (−)$428MShares issued$411MOther investing$253MDividends−$197MCash drawn (+) / kept (−)$145MOther financing−$24.3M

From profit to cash

Idacorp: net income to operating cash flow, Q4 2025Idacorp: net income to operating cash flow, Q4 2025Net income$43.7MDepreciation & amortization$68.1MDeferred taxes$18.2MOther non-cash$2.0MReceivables$40.5MPayables$30.0MPrepaid and other assets−$12.5MIncome taxes payable−$34.2MOperating cash flow$138M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q4 2025$138M−$354M−$48.5M−$1.4M$93.2M$117M−$216M
Q3 2025$163M−$291M−$46.5M−$1.6M$1.5M$141M−$128M
Q2 2025$177M−$333M−$46.5M—$1.5M$160M−$156M
Q1 2025$124M−$201M−$46.9M$380M$1.6M−$266M−$77.0M
Q4 2024$136M−$185M−$47.4M−$49.8M$63.8M$59.1M−$48.9M
Q3 2024$202M−$218M−$44.3M$300M$1.5M−$258M−$16.1M
Q2 2024$146M−$346M−$42.1M—$232M−$12.0M−$200M

Idacorp: income statement and cash flow

Idacorp, Q3 2026: revenue $615M (+17% year over year), operating margin 29.1%. The chart follows the revenue to costs, profit and cash.

Idacorp: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.