Income Statement Altus Power, Inc.

Equities

AMPS

US02217A1025

Electric Utilities

Real-time Estimate Cboe BZX Other stock markets 07:32:53 09/09/2024 pm IST			5-day change	1st Jan Change
3.170 ^USD	+2.26%		+4.38%	-54.61%

28/08	Evercore ISI Downgrades Altus Power to In Line From Outperform, $7 Price Target	MT
21/08	Morgan Stanley Downgrades Altus Power to Equalweight From Overweight, Cuts Price Target to $4 From $8	MT

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Published financial data: ALTUS POWER, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues - (Utility Template)	3.74Cr	4.53Cr	7.18Cr	10Cr	16Cr
Total Revenues	3.74Cr	4.53Cr	7.18Cr	10Cr	16Cr
Selling General & Admin Expenses, Total	89.52L	1.01Cr	1.69Cr	3.44Cr	4.74Cr
Depreciation & Amortization - (IS) - (Collected)	82.1L	1.19Cr	2.1Cr	2.96Cr	5.36Cr
Other Operating Expenses	67.84L	96.61L	1.4Cr	1.75Cr	2.96Cr
Total Operating Expenses	2.39Cr	3.17Cr	5.19Cr	8.16Cr	13Cr
Operating Income (REIT / Utility Template)	1.35Cr	1.35Cr	1.99Cr	1.96Cr	2.45Cr
Interest Expense, Total	-2.23Cr	-1.41Cr	-1.99Cr	-2.22Cr	-4.75Cr
Interest and Investment Income	-	-	-	24L	12L
Net Interest Expenses	-2.23Cr	-1.41Cr	-1.99Cr	-1.98Cr	-4.63Cr
Other Non Operating Income (Expenses)	22.91L	-3L	36.36L	5.72Cr	48.48L
EBT, Excl. Unusual Items	-65.09L	-8L	35.92L	5.7Cr	-1.7Cr
Total Merger & Related Restructuring Charges	-9L	-10.15L	-14.89L	-36.29L	-45.08L
Gain (Loss) on Sale of Assets	-	-	1.28Cr	22.22L	-6L
Other Unusual Items	-	-	-16.45L	-23.82L	-45.23L
EBT, Incl. Unusual Items	-73.75L	-18.04L	1.33Cr	5.32Cr	-2.67Cr
Income Tax Expense	11.85L	83T	3L	10.76L	-7L
Earnings From Continuing Operations	-85.6L	-18.87L	1.3Cr	5.22Cr	-2.6Cr
Net Income to Company	-85.6L	-18.87L	1.3Cr	5.22Cr	-2.6Cr
Minority Interest	41.93L	86.8L	-70.99L	32.7L	1.66Cr
Net Income - (IS)	-43.67L	67.93L	59.06L	5.54Cr	-93.55L
Preferred Dividend and Other Adjustments	17.54L	1.78Cr	90T	4L	-
Net Income to Common Incl Extra Items	-61.21L	-1.1Cr	58.16L	5.5Cr	-93.55L
Net Income to Common Excl. Extra Items	-61.21L	-1.1Cr	58.16L	5.5Cr	-93.55L
Per Share Items
Net EPS - Basic	-	-	0.06	0.36	-0.06
Basic EPS - Continuing Operations	-	-	0.06	0.36	-0.06
Basic Weighted Average Shares Outstanding	-	-	9.28Cr	15Cr	16Cr
Net EPS - Diluted	-	-	0.06	0.35	-0.06
Diluted EPS - Continuing Operations	-	-	0.06	0.35	-0.06
Diluted Weighted Average Shares Outstanding	-	-	9.66Cr	16Cr	16Cr
Normalized Basic EPS	-	-	-0.05	0.25	0.04
Normalized Diluted EPS	-	-	-0.05	0.25	0.04
Payout Ratio	-2.55T	521.86	376.01	-	-
Supplemental Items
Utility Revenues	3.33Cr	4.27Cr	6.7Cr	9.67Cr	14Cr
Non Utility Revenues	40.95L	25.98L	47.69L	44.47L	1.23Cr
EBITDA	2.17Cr	2.55Cr	4.09Cr	4.92Cr	7.81Cr
EBITA	1.32Cr	1.34Cr	1.91Cr	1.79Cr	2.63Cr
EBIT	1.35Cr	1.35Cr	1.99Cr	1.96Cr	2.45Cr
EBITDAR	2.43Cr	2.86Cr	4.53Cr	5.72Cr	9.07Cr
Effective Tax Rate - (Ratio)	-16.07	-4.6	2.22	2.02	2.56
Current Domestic Taxes	23T	23T	76T	-2T	32T
Total Current Taxes	23T	23T	76T	-2T	32T
Deferred Domestic Taxes	11.62L	60T	2L	10.78L	-7L
Total Deferred Taxes	11.62L	60T	2L	10.78L	-7L
Normalized Net Income	1L	81.87L	-48.54L	3.89Cr	60.08L
Interest on Long-Term Debt	-	-	-	17L	17L
Supplemental Operating Expense Items
General and Administrative Expenses	89.52L	1.01Cr	1.69Cr	3.44Cr	4.74Cr
Net Rental Expense, Total	26L	31L	44L	79.83L	1.26Cr
Imputed Operating Lease Interest Expense	-	11.5L	15.01L	21.59L	44.57L
Imputed Operating Lease Depreciation	-	19.5L	28.99L	58.24L	81.75L
Stock-Based Comp., G&A Exp. (Total)	70T	82T	1L	94.04L	1.5Cr
Total Stock-Based Compensation	70T	82T	1L	94.04L	1.5Cr

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.66Cr	3.38Cr	33Cr	19Cr	16Cr
Accounts Receivable, Total	16.64L	55.12L	87.89L	1.29Cr	1.53Cr
Other Receivables	4L	2L	4L	6L	17.96L
Accounts Receivable (Summary Subtotal)	20.33L	57.52L	92.18L	1.34Cr	1.71Cr
Restricted Cash	49.73L	34.65L	25.44L	24.04L	4.54Cr
Other Current Assets, Total	23.21L	17.48L	66.59L	62.06L	55.22L
Total Current Assets	3.6Cr	4.48Cr	34Cr	22Cr	23Cr
Gross Property Plant And Equipment	35Cr	55Cr	80Cr	118.61Cr	193.01Cr
Accumulated Depreciation	-2.33Cr	-3.52Cr	-5.55Cr	-8.65Cr	-14Cr
Net Property Plant And Equipment	33Cr	52Cr	75Cr	109.96Cr	179.29Cr
Goodwill	-	-	6L	-	-
Other Intangibles, Total	89.67L	1.18Cr	1.67Cr	4.76Cr	4.76Cr
Long-Term Investments - (Utility Template)	-	-	-	39.53L	5L
Other Long-Term Assets, Total	12.22L	56.11L	58.31L	1.06Cr	2.06Cr
Total Assets	37Cr	58Cr	111.32Cr	137.69Cr	209.03Cr
Liabilities
Accounts Payable, Total	21.3L	15.71L	35.91L	27.4L	73.38L
Accrued Expenses, Total	10.04L	26.65L	44.94L	45.48L	87.36L
Current Portion of Long-Term Debt	3.98Cr	3.52Cr	1.89Cr	3Cr	3.96Cr
Current Portion of Leases	-	-	22.45L	33.39L	68.61L
Unearned Revenue, Current	-	-	-	26L	29.4L
Other Current Liabilities - (Bank / Utility Template)	25.7L	40.07L	36.63L	2.5Cr	4.1Cr
Total Current Liabilities	4.55Cr	4.35Cr	3.29Cr	6.82Cr	11Cr
Long-Term Debt	18Cr	35Cr	49Cr	63Cr	116.33Cr
Long-Term Leases	-	-	3.54Cr	9.48Cr	18Cr
Unearned Revenue Non Current	-	-	-	53.97L	56.2L
Deferred Tax Liability Non-Current	1.06Cr	1.1Cr	96.03L	1.1Cr	98.31L
Other Non Current Liabilities, Total	66.29L	1.59Cr	20Cr	9.98Cr	9.94Cr
Total Liabilities	24Cr	42Cr	77Cr	91Cr	156.53Cr
Preferred Stock Redeemable	17Cr	20Cr	-	-	-
Total Preferred Equity	17Cr	20Cr	-	-	-
Common Stock, Total	1T	1T	15T	16T	16T
Additional Paid In Capital	2L	20.33L	41Cr	47Cr	49Cr
Retained Earnings	-4.73Cr	-8.08Cr	-10Cr	-4.59Cr	-5.53Cr
Comprehensive Income and Other	-	-	-	-	1.73Cr
Total Common Equity	-4.72Cr	-7.88Cr	30Cr	42Cr	45Cr
Minority Interest	1.18Cr	3.23Cr	3.66Cr	3.9Cr	7.79Cr
Total Equity	13Cr	16Cr	34Cr	46Cr	53Cr
Total Liabilities And Equity	37Cr	58Cr	111.32Cr	137.69Cr	209.03Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	-	-	15Cr	16Cr	16Cr
ECS Total Common Shares Outstanding	-	-	15Cr	16Cr	16Cr
Book Value / Share	-	-	1.98	2.67	2.81
Tangible Book Value	-5.61Cr	-9.05Cr	29Cr	38Cr	40Cr
Tangible Book Value Per Share	-	-	1.87	2.37	2.51
Total Debt	22Cr	39Cr	55Cr	76Cr	139.05Cr
Net Debt	19Cr	36Cr	22Cr	57Cr	122.97Cr
Debt Equivalent Oper. Leases	2.08Cr	2.48Cr	3.52Cr	6.39Cr	10Cr
Minority Interest, Total (Incl. Fin. Div)	1.18Cr	3.23Cr	3.66Cr	3.9Cr	7.79Cr
Account Code - Inventory Valuation	-	3	3	3	3
Land - (BS)	34.44L	48.74L	69.85L	61.73L	93.77L
Machinery, Total	-	-	38.73L	44.82L	1.34Cr
Full Time Employees	-	-	44	59	93
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	4L	9L

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-43.67L	67.93L	59.06L	5.54Cr	-93.55L
Depreciation, Depletion & Amortization	85.1L	1.2Cr	2.18Cr	3.13Cr	5.18Cr
Amortization of Goodwill and Intangible Assets - (CF)	-3L	-1L	-8L	-17L	18L
Total Depreciation, Depletion & Amortization	82.1L	1.19Cr	2.1Cr	2.96Cr	5.36Cr
Amortization of Deferred Charges, Total	20.64L	25.38L	28.73L	30.18L	36.17L
(Gain) Loss On Sale of Asset - (CF)	-	-	-1.28Cr	-22.22L	6L
(Gain) Loss on Sale of Investments - (CF)	-	-	-3L	-	-
Stock-Based Compensation (CF)	70T	82T	1L	94.04L	1.49Cr
Change in Accounts Receivable	7L	-12.87L	2L	-21.22L	14.93L
Change in Accounts Payable	14.61L	-14.77L	20.01L	-11.26L	35.04L
Change in Unearned Revenues	-	-	-	6L	4L
Change in Other Net Operating Assets (Collected)	-73T	14.73L	-4L	-21L	2.83Cr
Other Operating Activities	-30.26L	-77.58L	51.86L	-5.52Cr	-1.78Cr
Cash from Operations	50.24L	1.23Cr	2.37Cr	3.52Cr	7.94Cr
Capital Expenditure	-5.72Cr	-3.67Cr	-1.46Cr	-7.72Cr	-12Cr
Sale of Property, Plant, and Equipment	-	-	1.99Cr	36.05L	23.5L
Cash Acquisitions	-3.68Cr	-13Cr	-23Cr	-9.01Cr	-47Cr
Other Investing Activities, Total	-30.5L	-6L	-36T	5L	-
Cash from Investing	-9.7Cr	-17Cr	-22Cr	-16Cr	-59Cr
Long-Term Debt Issued, Total	29Cr	21Cr	31Cr	12Cr	58Cr
Total Debt Issued	29Cr	21Cr	31Cr	12Cr	58Cr
Long-Term Debt Repaid, Total	-25Cr	-5.58Cr	-16Cr	-12Cr	-5.11Cr
Total Debt Repaid	-25Cr	-5.58Cr	-16Cr	-12Cr	-5.11Cr
Issuance of Common Stock	57.5L	-	-	65T	-
Issuance of Preferred Stock	18Cr	3.15Cr	8.2Cr	-	-
Common Dividends Paid	-11Cr	-2.25Cr	-	-	-
Preferred Dividends Paid	-	-1.3Cr	-2.22Cr	-	-
Common & Preferred Stock Dividends Paid	-11Cr	-3.54Cr	-2.22Cr	-	-
Other Financing Activities, Total	-26.5L	1.9Cr	28Cr	-43.53L	-15.28L
Cash from Financing	11Cr	17Cr	49Cr	-29.53L	53Cr
Net Change in Cash	1.84Cr	60.69L	29Cr	-13Cr	1.95Cr
Supplemental Items
Cash Interest Paid	1.98Cr	97.36L	1.5Cr	2.16Cr	3.69Cr
Cash Income Tax Paid (Refund)	1T	38T	1L	73T	69T
Net Debt Issued / Repaid	4.22Cr	15Cr	15Cr	13.35L	53Cr
Levered Free Cash Flow	-	-2.16Cr	54.24L	-1.73Cr	-8.08Cr
Unlevered Free Cash Flow	-	-1.53Cr	1.5Cr	-64.18L	-5.47Cr
Change In Net Working Capital	-	-9L	39.51L	-1.96Cr	2.08Cr

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-	1.77	1.47	0.98	0.88
Return on Total Capital	-	1.89	1.73	1.16	0.97
Return On Equity %	-	-1.3	5.21	12.97	-5.26
Return on Common Equity	-	17.41	2.71	15.09	-2.15
Margin Analysis
Gross Profit Margin %	81.88	78.66	80.46	82.67	80.9
SG&A Margin	23.91	22.4	23.56	34.03	30.57
EBITDA Margin %	57.96	56.26	56.9	48.64	50.33
EBITA Margin %	35.23	29.69	26.59	17.7	16.93
EBIT Margin %	36.03	29.91	27.7	19.38	15.77
Income From Continuing Operations Margin %	-22.87	-4.17	18.11	51.57	-16.74
Net Income Margin %	-11.67	15	8.23	54.8	-6.03
Net Avail. For Common Margin %	-16.35	-24.21	8.1	54.37	-6.03
Normalized Net Income Margin	0.33	18.08	-6.76	38.47	3.87
Levered Free Cash Flow Margin	-	-47.61	7.56	-17.05	-52.06
Unlevered Free Cash Flow Margin	-	-33.79	20.9	-6.34	-35.26
Asset Turnover
Asset Turnover	-	0.09	0.08	0.08	0.09
Fixed Assets Turnover	-	0.11	0.11	0.11	0.11
Receivables Turnover (Average Receivables)	-	12.62	10.04	9.3	11.01
Short Term Liquidity
Current Ratio	0.79	1.03	10.47	3.15	2.15
Quick Ratio	0.63	0.91	10.19	3.03	1.67
Operating Cash Flow to Current Liabilities	0.11	0.28	0.72	0.52	0.75
Days Sales Outstanding (Average Receivables)	-	29	36.35	39.24	33.16
Average Days Payable Outstanding	-	70.1	67.15	65.9	62.06
Long Term Solvency
Total Debt/Equity	165.07	247.38	159.86	164.71	264.85
Total Debt / Total Capital	62.27	71.21	61.52	62.22	72.59
LT Debt/Equity	134.92	225	153.67	157.52	256
Long-Term Debt / Total Capital	50.9	64.77	59.14	59.51	70.17
Total Liabilities / Total Assets	64.59	72.95	69.32	66.37	74.88
EBIT / Interest Expense	0.61	0.96	1	0.88	0.52
EBITDA / Interest Expense	0.97	1.81	2.05	2.58	1.91
(EBITDA - Capex) / Interest Expense	-1.59	-0.8	1.32	-0.9	-0.57
Total Debt / EBITDA	10.05	15.28	13.36	13.34	15.33
Net Debt / EBITDA	8.82	13.95	5.38	9.96	13.55
Total Debt / (EBITDA - Capex)	-6.15	-34.74	20.78	-38.06	-51.37
Net Debt / (EBITDA - Capex)	-5.4	-31.72	8.37	-28.43	-45.43
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	20.95	58.58	40.9	53.38
Gross Profit, 1 Yr. Growth %	-	16.21	62.2	44.76	50.1
EBITDA, 1 Yr. Growth %	-	17.4	60.38	20.43	58.71
EBITA, 1 Yr. Growth %	-	1.93	42.01	-6.22	46.71
EBIT, 1 Yr. Growth %	-	0.4	46.87	-1.45	24.8
Earnings From Cont. Operations, 1 Yr. Growth %	-	-77.96	-789.19	301.13	-149.79
Net Income, 1 Yr. Growth %	-	-255.55	-13.06	838.66	-116.88
Diluted EPS Before Extra, 1 Yr. Growth %	-	-	-14.28	483.33	-117.14
Normalized Net Income, 1 Yr. Growth %	-	6.46T	-159.29	-794.41	-84.56
Net Property, Plant and Equip., 1 Yr. Growth %	-	58.85	43.57	47.46	63.04
Accounts Receivable, 1 Yr. Growth %	-	231.25	59.45	45.36	18.77
Total Assets, 1 Yr. Growth %	-	55.86	91.42	23.68	51.82
Tangible Book Value, 1 Yr. Growth %	-	61.24	154.03	30.62	6.11
Cash From Operations, 1 Yr. Growth %	-	144.75	92.78	48.68	125.18
Capital Expenditures, 1 Yr. Growth %	-	-35.84	-60.23	429.47	52.53
Levered Free Cash Flow, 1 Yr. Growth %	-	-	-125.16	-418.03	368.2
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	-198.11	-142.76	752.4
Common Equity, 1 Yr. Growth %	-	66.97	143.98	39.09	5.42
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	38.49	49.47	47
Gross Profit, 2 Yr. CAGR %	-	-	37.29	53.23	47.4
EBITDA, 2 Yr. CAGR %	-	-	37.22	38.98	38.25
EBITA, 2 Yr. CAGR %	-	-	20.31	15.4	17.29
EBIT, 2 Yr. CAGR %	-	-	21.43	20.31	10.9
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	23.26	425.79	41.32
Net Income, 2 Yr. CAGR %	-	-	16.29	185.67	25.86
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	-	123.61	0
Normalized Net Income, 2 Yr. CAGR %	-	-	523.47	118.02	3.54
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	51.02	45.5	55.06
Accounts Receivable, 2 Yr. CAGR %	-	-	129.82	52.89	31.4
Total Assets, 2 Yr. CAGR %	-	-	72.73	53.87	37.03
Common Equity, 2 Yr. CAGR %	-	-	154.24	84.21	21.09
Tangible Book Value, 2 Yr. CAGR %	-	-	126.34	82.35	17.73
Cash From Operations, 2 Yr. CAGR %	-	-	117.21	69.3	82.97
Capital Expenditures, 2 Yr. CAGR %	-	-	-49.49	45.1	184.19
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-10.54	285.88
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-35.23	90.92
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	39.29	50.76
Gross Profit, 3 Yr. CAGR %	-	-	-	39.74	52.18
EBITDA, 3 Yr. CAGR %	-	-	-	31.38	45.27
EBITA, 3 Yr. CAGR %	-	-	-	10.72	25.01