Is IDACORP, Inc. overvalued or undervalued?

As of 19 September 2025, the valuation grade for IDACORP, Inc. has moved from very expensive to expensive. The company appears to be overvalued based on its current metrics. The P/E ratio stands at 21, while the industry average P/E is not provided, indicating a relatively high valuation compared to peers. Additionally, the EV to EBITDA ratio is 13.64, and the PEG ratio is 1.84, both suggesting that the stock may be priced above its growth potential.
In comparison to its peers, Pinnacle West Capital Corp. has a P/E of 24.26, while The AES Corp. boasts a P/E of 25.28, indicating that IDACORP's valuation is more favorable than some but still high overall. Notably, IDACORP's one-year return of 22.71% outperformed the S&P 500's return of 16.64%, but its five-year return of 53.33% significantly lags behind the S&P 500's 100.77%, reinforcing the notion that the stock may be overvalued relative to its growth trajectory.