IDACORP, Inc. IDA

Competitive advantage analysis · utilities

Regulated Utilities
Overall moat score
57/100
Moderate

About IDACORP, Inc.

IDACORP, Inc., together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; and three natural gas-fired plants situated in southern Idaho, as well as interests in a coal-fired and natural gas-fired steam generating plant located in … Full IDA analysis →

Competitive advantage assessment

Key strengths

  • Investment-Grade Interest Coverage Interest coverage is strong (score 0.67), supporting investment-grade credit metrics.
  • Highly Stable Essential-Service Revenue Revenue stability is high (score 0.93), reflecting inelastic demand for essential services.

Key risks

  • Cost Discipline Lags Peers Operational cost discipline is weak (score 0.27), dragging on margins.
  • Deteriorating Operational Efficiency Efficiency trend is negative (score 0.09), which warrants monitoring.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Regulatory Franchise

Moderate
63

Where IDA ranks in Utilities - Regulated Electric

IDACORP, Inc. ranks #13 of 40 scored companies in Utilities - Regulated Electric by moat score — the top 32%. The widest moat in the group is MGE Energy Inc. (MGEE) at 73/100.

Moat scores for companies ranked near IDA in Utilities - Regulated Electric
# Company Moat score Rating
9 Duke Energy Corporation (Holdin DUK 61/100 Moderate
10 Evergy, Inc. EVRG 59/100 Moderate
11 NextEra Energy, Inc. NEE 59/100 Moderate
12 Avangrid, Inc. AGR 58/100 Moderate
13 IDACORP, Inc. IDA 57/100 Moderate
14 Enel Chile S.A. ENIC 57/100 Moderate
15 Alliant Energy Corporation LNT 56/100 Moderate
16 Public Service Enterprise Group PEG 56/100 Moderate
17 OGE Energy Corp OGE 55/100 Moderate

See every Regulated Utilities company ranked by moat score →

How IDA scores on the Regulated Utilities defenses

Regulatory Franchise

Score 63 · 25% of the moat score

The franchise is the moat, granted rather than earned: an exclusive right to serve a territory in exchange for regulated prices and an obligation to supply.

Rate-Base Return Quality

Score 71 · 20% of the moat score

A utility earns an allowed return on the capital invested in its network, the rate base.

Dividend Sustainability

Score 52 · 18% of the moat score

Utilities are owned largely for income, and the dividend is only as safe as the operating cash flow behind it.

Capital Structure Discipline

Score 66 · 17% of the moat score

Regulated utilities carry more debt than almost any other sector, which suits how predictable their revenue is but makes credit quality a core competitive asset.

Operational Efficiency

Score 20 · 12% of the moat score

Efficiency is unusually consequential under regulation.

Essential Service Resilience

Score 52 · 8% of the moat score

Electricity, gas and water are bought in a recession at close to the volume bought in an expansion, which is why utility revenue barely tracks the economic cycle.

How each Regulated Utilities defense is measured, in full →

Understanding IDA's moat

What is IDACORP, Inc.'s moat score?

IDACORP, Inc. (IDA) scores 57 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #13 of 40 scored companies in Utilities - Regulated Electric, the top 32%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 46 companies in Utilities - Regulated Electric. Its strongest defense is Rate-Base Return Quality (71/100) and its weakest is Operational Efficiency (20/100).

How does IDACORP, Inc. compare with other Utilities - Regulated Electric companies?

IDACORP, Inc. ranks #13 of 40 scored companies in Utilities - Regulated Electric by moat score. The widest moat in Utilities - Regulated Electric is MGE Energy Inc. (MGEE) at 73/100. The companies ranked closest are Avangrid, Inc. (AGR) at 58 just above it and Enel Chile S.A. (ENIC) at 57 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Regulated Utilities in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 46 companies in Utilities - Regulated Electric. The defenses are then weighted to produce the overall score out of 100.

Why is IDACORP, Inc. scored with the Regulated Utilities template?

A regulated utility is a legal monopoly whose prices are set by a regulator rather than by a market. It cannot raise prices at will and it cannot be undercut, so most of the usual questions about competitive advantage barely apply. What matters is the quality of the regulatory bargain: whether the company earns the return it is allowed, funds its capital programme cheaply, and sustains the dividend investors own it for.

Which competitive defenses are measured for IDACORP, Inc.?

The Regulated Utilities template measures 6 defenses, and IDA scores: Regulatory Franchise (63), Rate-Base Return Quality (71), Dividend Sustainability (52), Capital Structure Discipline (66), Operational Efficiency (20), Essential Service Resilience (52). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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