Otter Tail Corp OTTR
Otter Tail Corporation (OTC) is a holding company which has strategically invested in a portfolio of diversified operations including an electric utility and manufacturing and plastic pipe businesses. Our corporate offices are located in Fergus Falls, Minnesota and Fargo, North Dakota.
We classify our five operating companies into three reportable segments consistent with our business strategy and management structure. The following table depicts our three segments and the subsidiary entities included within each segment:
Otter Tail Power Company (OTP) BTD Manufacturing, Inc. (BTD) Northern Pipe Products, Inc. (Northern Pipe)
Electric includes the generation, purchase, transmission, distribution and sale of electric energy in western Minnesota, eastern North Dakota and northeastern South Dakota. Otter Tail Power (OTP), our primary business, serves approximately 134,000 customers in more than 400 communities across a predominantly rural and agricultural service territory.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.30B | $1.33B | $1.35B | $1.46B | $1.20B | $890.1M | $918.5M | $916.4M | $849.4M | $803.5M |
| SG&A | $82.6M | $80.1M | $72.7M | $69.7M | $65.4M | — | — | — | — | — |
| Total operating expenses | $958.4M | $950.3M | $971.2M | $1.07B | $947.1M | $742.2M | $784.6M | $787.1M | $717.1M | $686.9M |
| Operating income | $345.7M | $380.2M | $377.9M | $390.4M | $249.7M | $147.9M | $134.9M | $129.4M | $132.3M | $116.6M |
| Interest expense | $47.2M | $41.8M | $37.7M | $36.0M | $37.8M | $34.4M | — | — | — | — |
| Pre-tax income | $322.3M | $366.9M | $363.5M | $357.5M | $212.8M | $116.1M | $104.3M | $96.9M | $99.7M | $82.5M |
| Income tax | $46.4M | $65.2M | $69.3M | $73.4M | $36.1M | $20.2M | $17.4M | $14.6M | $27.3M | $20.2M |
| Net income | $275.9M | $301.7M | $294.2M | $284.2M | $176.8M | $95.9M | $86.8M | $82.3M | $72.4M | $62.3M |
| EPS, basic | 6.59 | 7.22 | 7.06 | 6.83 | 4.26 | 2.35 | 2.19 | 2.08 | 1.84 | 1.62 |
| EPS, diluted | 6.55 | 7.17 | 7.00 | 6.78 | 4.23 | 2.34 | 2.17 | 2.06 | 1.82 | 1.61 |
| Shares, diluted (wtd. avg.) | $42.1M | $42.1M | $42.0M | $41.9M | $41.8M | $40.9M | $40.0M | $39.9M | $39.7M | $38.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $386.2M | $294.7M | $230.4M | $119.0M | $1.5M | $1.2M | $21.2M | $861.0K | $16.2M | $0 |
| Short-term investments | $54.3M | $753.0K | — | — | — | — | — | — | — | — |
| Receivables | — | — | — | — | — | — | $77.9M | $75.1M | $68.5M | $68.2M |
| Inventory | $158.6M | $148.9M | $149.7M | $146.0M | $148.5M | $92.2M | $97.9M | $106.3M | $88.0M | $83.7M |
| Total current assets | $799.7M | $630.0M | $570.2M | $452.8M | $369.4M | $234.8M | $254.9M | $241.4M | $239.1M | $208.0M |
| Property, plant and equipment | $171.4M | $178.7M | $142.4M | $2.21B | $2.12B | $2.05B | $1.75B | $1.58B | $1.54B | $1.48B |
| Goodwill | $37.6M | $37.6M | $37.6M | $37.6M | $37.6M | $37.6M | $37.6M | $37.6M | $37.6M | $37.6M |
| Other intangibles | $4.6M | $5.7M | $6.8M | $7.9M | $9.0M | $10.1M | $11.3M | $12.4M | $13.8M | $15.0M |
| Total assets | $3.96B | $3.65B | $3.24B | $2.90B | $2.75B | $2.58B | $2.27B | $2.05B | $2.00B | $1.91B |
| Accounts payable | $93.6M | $113.6M | $94.4M | $104.4M | $135.1M | $120.6M | $120.8M | $96.3M | $84.7M | $89.3M |
| Short-term debt | $80.0M | $0 | $81.4M | $0 | $30.0M | $140.1M | $183.0K | $172.0K | $186.0K | $33.2M |
| Total current liabilities | $351.0M | $309.8M | $309.8M | $237.6M | $387.7M | $436.8M | $189.7M | $170.1M | $256.7M | $215.7M |
| Long-term debt | $963.6M | $943.7M | $824.1M | $823.8M | $734.0M | $624.4M | $689.6M | $590.0M | $490.4M | $505.3M |
| Retained earnings | $1.22B | $1.03B | $806.3M | $585.2M | $369.8M | $257.9M | $222.3M | $190.4M | $161.3M | $139.5M |
| Total equity | $1.86B | $1.67B | $1.44B | $1.22B | $990.8M | $871.0M | $781.5M | $728.9M | $696.9M | $670.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $386.0M | $452.7M | $404.5M | $389.3M | $231.2M | $211.9M | $185.0M | $143.4M | $173.6M | $163.4M |
| Depreciation and amortisation | $118.1M | $107.1M | $98.0M | $92.6M | $91.4M | $82.0M | $78.1M | $74.7M | $72.5M | $73.4M |
| Stock-based compensation | $9.1M | $9.5M | $7.8M | $6.8M | $6.9M | $6.3M | $6.0M | $4.4M | $3.6M | $3.2M |
| Capital expenditure | $288.1M | $358.6M | $287.1M | $171.1M | $171.8M | $371.6M | $207.4M | $105.4M | $132.9M | $161.3M |
| Investing cash flow | -$290.7M | -$411.4M | -$289.3M | -$175.1M | -$171.5M | -$375.7M | -$209.5M | -$107.4M | -$132.6M | -$159.3M |
| Financing cash flow | -$3.7M | $22.9M | -$3.8M | -$96.8M | -$59.4M | $143.7M | $44.8M | -$51.4M | -$24.8M | -$4.1M |
| Dividends paid | $88.1M | $78.3M | $73.1M | $68.8M | $64.9M | $60.3M | $55.7M | $53.2M | $50.6M | — |
| Buybacks | — | — | — | — | — | $2.1M | $2.7M | $3.0M | $1.8M | $104.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001466593-26-000015.
Others in SIC 4911
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| NEE | NEXTERA ENERGY INC | $173.98B | 25.3x | 9.8% |
| CEG | Constellation Energy Corp | $105.92B | 40.4x | 19.5% |
| AEP | AMERICAN ELECTRIC POWER CO INC | $67.74B | 18.7x | 8.7% |
| D | DOMINION ENERGY, INC | $57.90B | 19.1x | 16.5% |
| VST | Vistra Corp. | $50.11B | 68.5x | 19.1% |
| DTE | DTE ENERGY CO | $28.31B | 19.4x | — |
| FE | FIRSTENERGY CORP | $27.05B | 26.6x | 12.0% |
| ES | EVERSOURCE ENERGY | $26.76B | 15.6x | 14.3% |