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IDACORP (IDA) just posted second quarter 2026 results that topped earnings expectations, alongside higher year over year sales and net income, and lifted the lower end of its full year earnings guidance range.
See our latest analysis for IDACORP.
At a share price of $142.91, IDACORP has had a 12.26% year to date share price return. Its 1 year total shareholder return of 17.99% and 3 year total shareholder return of 57.60% suggest momentum has been building over time, with the latest earnings beat and guidance raise reinforcing that trend despite some recent share price softness.
If IDACORP's update has you thinking about where regulated utilities and power infrastructure fit in your portfolio, it can also be useful to compare it with other power grid focused opportunities using the 35 power grid technology and infrastructure stocks
After that earnings beat, guidance tweak and a strong multiyear run, IDACORP at about $142.91 now poses a simple question. Does the current valuation still leave enough upside to justify the risk?
Compared with the last close at $142.91, the most followed narrative pegs IDACORP's fair value at $158.10 using a 7.108% discount rate. This implies some upside that depends heavily on how its long term capital and load growth story unfolds.
Robust customer and population growth in IDACORP's service area, combined with significant new large scale industrial investments (e.g., Micron fabs, data centers), suggests sustained above average electricity demand well into the 2030s, supporting long term revenue growth.
Want to see what sits behind that growth outlook and fair value? The narrative leans on faster load growth, rising margins and a richer future earnings multiple.
Result: Fair Value of $158.10 (UNDERVALUED)
Have a read of the narrative in full and understand what's behind the forecasts.
However, IDACORP's reliance on weather sensitive hydro assets, along with the need for regulators to approve large capital recovery, both have the potential to derail that undervaluation story.
Find out about the key risks to this IDACORP narrative.
The SWS DCF model paints a different picture for IDACORP. At a share price of $142.91, the stock sits above an estimated future cash flow value of $111.33, which screens as overvalued on this measure. If cash flows fall short of optimistic growth paths, that gap could start to matter for you.
Look into how the SWS DCF model arrives at its fair value.
Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out IDACORP for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 55 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.
Given the mix of cautious optimism and clear questions around IDACORP, it makes sense to review the data yourself and decide quickly where you stand. To help balance the enthusiasm against the concerns, take a closer look at the 2 key rewards and 2 important warning signs
If IDACORP's story has sharpened your thinking, do not stop there. Use the Simply Wall Street Screener to quickly compare fresh opportunities that might fit your goals.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include IDA.
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