Private company

ALLETE INC

Last updated Oct 16, 2026.

Overview

  • IndustryElectric & Other Services Combined
  • HeadquartersMN
  • Incorporated inMN2
  • Business address30 W Superior St, Duluth, Mn 55802-20932
  • Filer categoryLarge accelerated filer2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

10.5%Operating margin3
11.7%Net margin3
-18.6%Revenue growth, 20243
6.3%Return on equity3
0.60×Debt to equity3
$102.2MFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue8¢$129.2M
  • Other costs80¢$1.2B
  • Income tax0¢$4.7M
  • Profit12¢$179.3M

Out of $1.5B in revenue.3

Where each dollar of operating cash went, fiscal 2024

  • Capital spending69¢$354.9M
  • Dividends paid31¢$162.8M

Out of $457.1M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.3

Financial statements

Revenue45673$1.5B in 2024+2% since 2018
0$500.0M$1.0B$1.5B$2.0B2018: $1.5B$1.5B20182019: $1.2B$1.2B2019−17%2020: $1.2B$1.2B2020−6%2021: $1.4B$1.4B2021+21%2022: $1.6B$1.6B2022+11%2023: $1.9B$1.9B2023+20%2024: $1.5B$1.5B2024−19%
Operating income45673$160.1M in 2024−20% since 2018
0$100.0M$200.0M$300.0M2018: $201.2M$201.2M20182019: $179.8M$179.8M2019−11%2020: $138.2M$138.2M2020−23%2021: $151.3M$151.3M2021+9%2022: $134.2M$134.2M2022−11%2023: $180.9M$180.9M2023+35%2024: $160.1M$160.1M2024−11%
Net income45673$179.3M in 2024+3% since 2018
0$100.0M$200.0M$300.0M2018: $174.1M$174.1M20182019: $185.6M$185.6M2019+7%2020: $165.4M$165.4M2020−11%2021: $169.2M$169.2M2021+2%2022: $189.3M$189.3M2022+12%2023: $247.1M$247.1M2023+31%2024: $179.3M$179.3M2024−27%
Fiscal year2018201920202021202220232024
Revenue$1.5B4$1.2B5$1.2B6$1.4B7$1.6B3$1.9B3$1.5B3
Cost of revenue$218.0M4$80.6M5$66.7M6$68.8M7$182.8M3$473.5M3$129.2M3
Operating income$201.2M4$179.8M5$138.2M6$151.3M7$134.2M3$180.9M3$160.1M3
Interest$67.9M4$64.9M5$65.6M6$69.1M7$75.2M7$80.8M7
Income tax-$15.5M4-$6.6M5-$43.4M6-$26.9M7-$31.2M3$27.9M3$4.7M3
Net income$174.1M4$185.6M5$165.4M6$169.2M7$189.3M3$247.1M3$179.3M3
Earnings per share$3.394$3.595$3.186$3.237$3.383$4.313$3.113
Earnings per share (diluted)$3.384$3.595$3.186$3.237$3.383$4.303$3.103

Compare ALLETE INC with another company

Former names

  • ALLETEOct 4, 2000 to Jan 25, 20012
  • MINNESOTA POWER INCNov 6, 1998 to Jul 21, 20002
  • MINNESOTA POWER & LIGHT COFeb 8, 1994 to May 8, 19982

Recent filings

  1. Dec 16, 20254
  2. Dec 16, 20254
  3. Dec 16, 20254
  4. Dec 16, 20254
  5. Dec 16, 20254
  6. Dec 16, 20254
  7. Dec 16, 20254
  8. Dec 16, 20254
  9. Dec 16, 20254
  10. Dec 16, 20254
  11. Dec 16, 20254
  12. Dec 16, 20254
  13. Dec 16, 20254
  14. Dec 16, 20254
  15. Dec 16, 20254

Every filing from the last three years, summarized. The full record is on SEC EDGAR.1

Sources

The numbers on this page point here. Each one links to the record it came from.

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