Algonquin Power & Utilities Corp.

AI-generated fair value estimate for this company.

Method: 10-year levered FCF DCF with capex glide-path: operating cash flow grows ~4%/yr from $589.3M TTM; capex glides down from $648M TTM to $400M by yr10 as renewables growth capex tapers toward maintenance levels post-restructuring; 8.5% discount rate; 3% terminal growth; $6.686B total debt vs $63.7M cash already reflected in levered cash flow; 769.90M shares outstanding.

Reasoning: AQN currently runs negative FCF (-$58.7M TTM) because capex exceeds operating cash flow during its renewables build-out and utility-portfolio restructuring (Chilean water-utility sale, planned US/Delaware redomicile); value depends on capex normalizing as the build-out completes.