Short answer
Alliant Energy (LNT) filed its fiscal 2025 10-K annual report with the SEC on Feb 20, 2026. It reported revenue of $4.4B (+9.6% year over year) and net income of $810M.
- Top risk flagged: Compliance risk with NERC Critical Infrastructure Protection and DHS Transportation Security Administration cybersecurity standards
FY2025 key financial metrics · XBRL
- Revenue
- $4.4B
- +9.6% YoY
- Net income
- $810M
- +17.4% YoY
- Operating margin
- 23.5%
- +1.2 pp YoY
- EPS (diluted)
- $3.14
- +16.7% YoY
- ROE
- 11.0%
- +1.2 pp YoY
- Operating cash flow
- $1.2B
- +0.2% YoY
Source: XBRL data from the Alliant Energy (LNT) FY2025 10-K on SEC EDGAR. USD.
Alliant Energy FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Regulated electric and natural gas utility serving Midwest retail customers via IPL and WPL
- New emphasis: Exit of IPL’s steam business post-2025; continued focus on renewable energy projects with 400 MW solar placed in service 2024
- Strategic shift: Advancing generation mix with renewable additions, energy storage, natural gas, and coal-to-gas conversions to meet demand and environmental compliance
- Quantitative highlight: Total employees 2,948 as of Dec 31, 2025, with 58% covered by collective bargaining agreements
- Noteworthy fact: EPA finalized rescinding 2009 GHG finding in Feb 2026 affecting regulation scope, and delayed key regulations pending 2026 rulings
Management Discussion & Analysis
- Revenue $3.697B in 2025, up $325M YoY from $3.372B, driven by higher electric utility revenues (+$333M) and gas utility revenues (+$60M)
- Utilities and Corporate Services net income $875M, EPS $3.39 in 2025 vs $722M, EPS $2.81 in 2024; consolidated net income $810M, EPS $3.14 vs $690M, EPS $2.69
- Best performing segment IPL net income improved $95M YoY; worst segment Non-utility and Parent net income down $34M YoY due to asset valuation and higher financing expense
- No specific cash flow numbers given; capital allocation includes plans for $2.4B common stock issuance (2026-2029), $500M long-term debt by IPL, $300M by WPL in 2026; 5% dividend increase to $2.14/share annualized in 2026
- Management expects higher revenues and electric sales in 2026 driven by load growth, new data centers; anticipates increased O&M, depreciation, interest expense; risks include regulatory approvals and debt financings
Risk Factors
- Compliance risk with NERC Critical Infrastructure Protection and DHS Transportation Security Administration cybersecurity standards
- Cybersecurity threat from evolving risks potentially impacting operations despite layered defenses and annual third-party NIST framework assessments
- Supply chain exposure to third-party vendors with access to IT systems monitored via ERM and cybersecurity audits, with high-risk vendors under continuous review
- Cyber liability insurance coverage up to undisclosed limits to mitigate financial impact of cybersecurity incidents
- Dependence on Senior VP and CIO with 40 years IT experience for cybersecurity program leadership and Board reporting
Generated from the filing text; verify against the original. How to read a 10-K
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