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ALLETE (ALE)
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ALLETE Balance Sheet 2024-2007 | ALE
Brief overview of ALLETE's balance sheet structure
The review uses the five latest available annual reports between 2020 and 2024.
The asset base gained +11%, from $6.1 billion to $6.8 billion; average annual growth of 2.6% remained moderate.
Liabilities increased less than assets, posting +2.4% versus +11%. That relationship usually strengthens the balance sheet.
Equity finances 42.2% of the balance sheet, compared with 45.9% at the start. The cushion remains adequate.
The net-debt-to-equity ratio is 0.59x. Balance sheet leverage is low on this measure.
Cash accounts for 0.5% of assets versus 0.7% initially. The change indicates the degree of financial flexibility.
Retained earnings are $1 billion versus $864.8 million initially. The direction shows how results contributed to equity.
What the balance sheet shows
Taken together, the figures indicate acceptable resilience for ALLETE. The next assessment depends on debt and equity trends.
Annual Balance Sheet ALLETE
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
1.68 B | 1.61 B | 1.62 B | 1.72 B | 1.75 B | 1.34 B | 1.42 B | 1.4 B | 1.53 B | 1.51 B | 1.23 B | 1.01 B | 937 M | 763 M | 740 M | 675 M | - | - |
Long Term Debt |
1.7 B | 1.68 B | 1.65 B | 1.76 B | 1.59 B | 1.4 B | 1.43 B | 1.44 B | 1.37 B | 1.57 B | 1.27 B | 1.08 B | 934 M | 858 M | 772 M | 696 M | - | - |
Long Term Debt Current |
3.2 M | 3 M | 3.2 M | 4.8 M | 204 M | 6.9 M | 57.5 M | 64.1 M | 188 M | 36.3 M | 101 M | 27.2 M | 84.5 M | 5.4 M | 13.4 M | 5.2 M | - | - |
Total Non Current Liabilities |
2.96 B | 2.87 B | 2.78 B | 2.94 B | 2.82 B | 2.64 B | 2.6 B | 2.66 B | 2.61 B | 2.81 B | 2.33 B | 1.9 B | 1.77 B | 1.63 B | 1.47 B | 1.32 B | - | - |
Total Current Liabilities |
404 M | 378 M | 716 M | 543 M | 460 M | 507 M | 405 M | 351 M | 400 M | 275 M | 416 M | 230 M | 283 M | 163 M | 159 M | 133 M | - | - |
Total Liabilities |
3.36 B | 3.25 B | 3.5 B | 3.48 B | 3.28 B | 3.15 B | 3.01 B | 3.01 B | 3.01 B | 3.08 B | 2.75 B | 2.13 B | 2.05 B | 1.8 B | 1.62 B | 1.45 B | - | - |
Deferred Revenue |
7.8 M | 7.4 M | 151 M | 27.2 M | 195 M | - | 7.6 M | - | 5.4 M | 15.1 M | 74 M | 26 M | 28.8 M | - | - | - | - | - |
Retained Earnings |
1.04 B | 1.03 B | 935 M | 891 M | 865 M | 819 M | 755 M | 689 M | 626 M | 573 M | 530 M | 489 M | 460 M | 432 M | 400 M | 385 M | - | - |
Total Assets |
6.75 B | 6.66 B | 6.85 B | 6.42 B | 6.08 B | 5.48 B | 5.16 B | 5.08 B | 4.91 B | 4.91 B | 4.36 B | 3.48 B | 3.25 B | 2.88 B | 2.61 B | 2.39 B | - | - |
Cash and Cash Equivalents |
32.8 M | 71.9 M | 36.4 M | 45.1 M | 44.3 M | 69.3 M | 69.1 M | 98.9 M | 27.5 M | 97 M | 146 M | 97.3 M | 80.8 M | 101 M | 44.9 M | 25.7 M | 102 M | 23.3 M |
Book Value |
3.39 B | 3.41 B | 3.35 B | 2.94 B | 2.8 B | 2.34 B | 2.16 B | 2.07 B | 1.89 B | 1.82 B | 1.61 B | 1.34 B | 1.2 B | 1.08 B | 985 M | 939 M | - | - |
Total Shareholders Equity |
2.85 B | 2.81 B | 3.35 B | 2.4 B | 2.79 B | 2.34 B | 2.16 B | 2.07 B | 1.89 B | 1.82 B | 1.61 B | 1.34 B | 1.2 B | 1.08 B | 976 M | 930 M | 827 M | 743 M |
Annual performance
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All numbers in USD currency
Quarterly Balance Sheet ALLETE
| 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q4 | 2010-Q3 | 2010-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
2.24 B | 2 B | 1.93 B | 6 M | 7.5 M | 8.3 M | 8.3 M | 7.7 M | 8.5 M | 8.1 M | 8.8 M | 9.3 M | 10 M | 10.7 M | 10.9 M | 11.6 M | 12.7 M | 13.4 M | 14.5 M | 16.5 M | 17.7 M | 18.8 M | 20 M | 21.8 M | 23.3 M | 24 M | 25.6 M | 1.43 B | 1.53 B | 1.53 B | 1.51 B | 1.5 B | 1.52 B | 1.53 B | 1.54 B | 1.56 B | 1.56 B | 1.58 B | 1.58 B | 1.59 B | 1.6 B | 1.39 B | 1.38 B | 1.37 B | 1.37 B | 1.33 B | 1.21 B | 1.11 B | 1.1 B | 1.1 B | 1.02 B | 1.02 B | 1.01 B | 876 M | 862 M | 863 M | 857 M | 784 M | 771 M | 785 M | 784 M | 710 M |
Total Non Current Liabilities |
3.4 B | 3.21 B | 3.1 B | 2.96 B | 3.01 B | 2.97 B | 2.93 B | 2.87 B | 2.83 B | 2.82 B | 2.88 B | 2.78 B | 2.8 B | 2.77 B | 2.86 B | 2.94 B | 2.83 B | 2.86 B | 2.85 B | 2.82 B | 2.8 B | 2.6 B | 2.62 B | 2.64 B | 2.58 B | 2.67 B | 2.7 B | 2.6 B | 2.64 B | 2.66 B | 2.58 B | 2.66 B | 2.65 B | 2.61 B | 2.58 B | 2.58 B | 2.6 B | 2.73 B | 2.8 B | 2.8 B | 2.79 B | 2.49 B | 2.41 B | 2.33 B | 2.25 B | 2.26 B | 2.13 B | 1.9 B | 1.95 B | 1.91 B | 1.81 B | 1.77 B | 1.77 B | 1.61 B | 1.65 B | 1.63 B | 1.58 B | 1.49 B | 1.48 B | 1.47 B | 1.46 B | 1.36 B |
Total Liabilities |
3.81 B | 3.55 B | 3.48 B | 3.36 B | 3.34 B | 3.27 B | 3.2 B | 3.25 B | 3.25 B | 3.2 B | 3.35 B | 3.5 B | 3.5 B | 3.48 B | 3.41 B | 3.48 B | 3.48 B | 3.45 B | 3.43 B | 3.28 B | 3.43 B | 3.33 B | 3.25 B | 3.15 B | 3.07 B | 2.97 B | 3.02 B | 3.01 B | 3.05 B | 3.01 B | 2.97 B | 3.01 B | 2.94 B | 2.91 B | 2.94 B | 2.98 B | 3 B | 3.01 B | 3.02 B | 3.07 B | 3.11 B | 2.89 B | 2.81 B | 2.75 B | 2.54 B | 2.48 B | 2.34 B | 2.13 B | 2.18 B | 2.1 B | 2.01 B | 2.05 B | 1.98 B | 1.84 B | 1.79 B | 1.8 B | 1.7 B | 1.61 B | 1.6 B | 1.62 B | 1.6 B | 1.48 B |
Deferred Revenue |
9.3 M | 9 M | 9.4 M | 7.8 M | 9.2 M | 5.9 M | 5.7 M | 7.4 M | 6 M | 9.6 M | 10.3 M | 151 M | 112 M | 28.5 M | 28.9 M | 27.2 M | 27.5 M | - | - | 7.4 M | 7.4 M | - | - | - | - | - | 400 K | 7.6 M | 22.7 M | 24.3 M | 20 M | 8.7 M | 8.7 M | 8.7 M | 8.7 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
1.03 B | 1.05 B | 1.06 B | 1.04 B | 1.03 B | 1.03 B | 1.04 B | 1.03 B | 1.01 B | 967 M | 954 M | 935 M | 929 M | 933 M | 932 M | 891 M | 873 M | 879 M | 884 M | 865 M | 850 M | 841 M | 853 M | 819 M | 800 M | 799 M | 795 M | 755 M | 722 M | 720 M | 718 M | 689 M | 675 M | 658 M | 648 M | 626 M | 607 M | 593 M | 594 M | 573 M | 579 M | 543 M | 545 M | 530 M | 519 M | 498 M | 501 M | 489 M | 474 M | 468 M | 473 M | 460 M | 448 M | 435 M | 438 M | 432 M | 428 M | 423 M | 421 M | 400 M | 402 M | 397 M |
Total Assets |
7.15 B | 6.91 B | 6.87 B | 6.75 B | 6.74 B | 6.66 B | 6.6 B | 6.66 B | 6.64 B | 6.57 B | 6.7 B | 6.85 B | 6.86 B | 6.84 B | 6.56 B | 6.42 B | 6.33 B | 6.29 B | 6.27 B | 6.08 B | 5.88 B | 5.76 B | 5.62 B | 5.48 B | 5.28 B | 5.18 B | 5.22 B | 5.16 B | 5.16 B | 5.11 B | 5.07 B | 5.08 B | 4.98 B | 4.93 B | 4.94 B | 4.88 B | 4.87 B | 4.86 B | 4.87 B | 4.89 B | 4.93 B | 4.67 B | 4.58 B | 4.36 B | 4.07 B | 3.9 B | 3.75 B | 3.48 B | 3.46 B | 3.35 B | 3.25 B | 3.25 B | 3.14 B | 2.96 B | 2.91 B | 2.88 B | 2.75 B | 2.65 B | 2.61 B | 2.61 B | 2.58 B | 2.45 B |
Cash and Cash Equivalents |
81.2 M | 57.9 M | 94.4 M | 55.2 M | 111 M | 43.7 M | 40.3 M | 79.4 M | 131 M | 51.1 M | 39.6 M | 40.2 M | 48.6 M | 81.7 M | 75 M | 47.7 M | 65.4 M | 67.3 M | 177 M | 65.2 M | 85.1 M | 37.4 M | 78.9 M | 92.5 M | 135 M | 207 M | 365 M | 79 M | 142 M | 133 M | 133 M | 110 M | 120 M | 96.5 M | 99.5 M | 38.3 M | 107 M | 91.9 M | 97 M | 111 M | 103 M | 60.6 M | 72.1 M | 146 M | 150 M | 83.6 M | 44.6 M | 97.3 M | 164 M | 145 M | 77.3 M | 80.8 M | 104 M | 8.6 M | 118 M | 101 M | 135 M | 79.4 M | 52.7 M | 44.9 M | 92.3 M | 45.3 M |
Book Value |
3.34 B | 3.37 B | 3.39 B | 3.39 B | 3.39 B | 3.4 B | 3.41 B | 3.41 B | 3.4 B | 3.37 B | 3.36 B | 3.35 B | 3.35 B | 3.36 B | 3.14 B | 2.94 B | 2.85 B | 2.84 B | 2.85 B | 2.8 B | 2.45 B | 2.43 B | 2.37 B | 2.34 B | 2.21 B | 2.2 B | 2.2 B | 2.16 B | 2.12 B | 2.11 B | 2.1 B | 2.07 B | 2.04 B | 2.02 B | 2 B | 1.89 B | 1.87 B | 1.85 B | 1.85 B | 1.82 B | 1.82 B | 1.78 B | 1.77 B | 1.61 B | 1.53 B | 1.42 B | 1.41 B | 1.34 B | 1.29 B | 1.25 B | 1.24 B | 1.2 B | 1.16 B | 1.12 B | 1.11 B | 1.08 B | 1.05 B | 1.04 B | 1.01 B | 985 M | 984 M | 972 M |
Total Shareholders Equity |
3.34 B | 3.37 B | 3.39 B | 3.39 B | 3.39 B | 3.39 B | 3.41 B | 3.41 B | 3.4 B | 3.37 B | 3.36 B | 3.35 B | 3.35 B | 3.36 B | 3.14 B | 2.94 B | 2.85 B | 2.84 B | 2.85 B | 2.79 B | 2.45 B | 2.43 B | 2.37 B | 2.34 B | 2.21 B | 2.2 B | 2.2 B | 2.16 B | 2.12 B | 2.11 B | 2.1 B | 2.07 B | 2.04 B | 2.02 B | 2 B | 1.89 B | 1.87 B | 1.85 B | 1.85 B | 1.82 B | 1.82 B | 1.78 B | 1.77 B | 1.61 B | 1.53 B | 1.42 B | 1.41 B | 1.34 B | 1.29 B | 1.25 B | 1.24 B | 1.2 B | 1.16 B | 1.12 B | 1.11 B | 1.08 B | 1.05 B | 1.04 B | 1.01 B | 985 M | 984 M | 972 M |
Quarterly performance
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All numbers in USD currency
Balance Sheet is a fundamental financial report of ALLETE, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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