LNT on Nasdaq

Alliant Energy

Logo: Alliant Energy Corporation, Public domain, via Wikimedia Commons4

Public utility holding company based in Madison, Wisconsin, US

Alliant Energy Corporation is a public utility holding company headquartered in Madison, Wisconsin, providing power in Iowa and Wisconsin.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

1981Founded1

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  • TickerLNT on Nasdaq1
  • Industrypublic utility1
  • HeadquartersMadison1
  • Websitewww.alliantenergy.com
  • Incorporated inWI5
  • Business address4902 North Biltmore Lane, Suite 1000, Madison, Wi 53718-21485
  • Filer categoryLarge accelerated filer5
AlliantEnergySheboyganWisconsinPowerPlant
Photo: User:Royalbroil, CC BY-SA 2.5, via Wikimedia Commons7

Alliant Energy Corporation is a public utility holding company headquartered in Madison, Wisconsin, providing power in Iowa and Wisconsin.3

Financials

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

Key numbers, fiscal 2025

23.5%Operating margin8
18.6%Net margin8
9.6%Revenue growth, 20258
11.0%Return on equity8
1.49×Debt to equity8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Electric brought in 58% of the revenue Alliant Energy broke down this way in fiscal 2025.

  1. Electric$3.7B858%up 10% from 2024
  2. Wpl$2.1B832%up 12% from 2024
  3. Gas$525.0M88%up 13% from 2024
  4. Other Operating$89.0M81%down 1% from 2024
  5. Other Utility$51.0M81%down 6% from 2024
Business segments by year
Business segments202320242025
Electric$3.3B$3.4B$3.7B
Wpl$1.8B$1.8B$2.1B
Gas$540.0M$465.0M$525.0M
Other Operating$90.0M$90.0M$89.0M
Other Utility$52.0M$54.0M$51.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue14¢$625.0M
  • Other costs52¢$2.3B
  • Interest12¢$512.0M
  • Income tax3¢$149.0M
  • Profit19¢$810.0M

Out of $4.4B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid45¢$521.0M
  • Kept or used elsewhere55¢$648.0M

Out of $1.2B of cash from operations.8

Financial statements

Revenue91011128$4.4B in 2025+20% since 2019
0$2.0B$4.0B$6.0B2019: $3.6B$3.6B20192020: $3.4B$3.4B2020−6%2021: $3.7B$3.7B2021+7%2022: $4.2B$4.2B2022+15%2023: $4.0B$4.0B2023−4%2024: $4.0B$4.0B2024−1%2025: $4.4B$4.4B2025+10%
Operating income91011128$1.0B in 2025+32% since 2019
0$500.0M$1.0B$1.5B2019: $778.0M$778.0M20192020: $740.0M$740.0M2020−5%2021: $795.0M$795.0M2021+7%2022: $928.0M$928.0M2022+17%2023: $943.0M$943.0M2023+2%2024: $886.0M$886.0M2024−6%2025: $1.0B$1.0B2025+16%
Net income91011128$810.0M in 2025+43% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $567.0M$567.0M20192020: $624.0M$624.0M2020+10%2021: $674.0M$674.0M2021+8%2022: $686.0M$686.0M2022+2%2023: $703.0M$703.0M2023+2%2024: $690.0M$690.0M2024−2%2025: $810.0M$810.0M2025+17%

Every line of the income statement in the latest annual report, as filed.8

Period ending2025-12-312024-12-312023-12-31
Electric utility$3.7B$3.4B$3.3B
Gas utility$525.0M$465.0M$540.0M
Other utility$51.0M$54.0M$52.0M
Non-utility$89.0M$90.0M$90.0M
Total revenues$4.4B$4.0B$4.0B
Electric production fuel and purchased power$742.0M$628.0M$736.0M
Electric transmission service$625.0M$613.0M$583.0M
Cost of gas sold$263.0M$224.0M$299.0M
Asset valuation charge for IPL's Lansing Generating Station$0$60.0M$0
Other operation and maintenance$740.0M$676.0M$675.0M
Depreciation and amortization$846.0M$772.0M$676.0M
Taxes other than income taxes$121.0M$122.0M$115.0M
Total operating expenses$3.3B$3.1B$3.1B
Operating income (loss)$1.0B$886.0M$943.0M
Interest expense$512.0M$449.0M$394.0M
Equity income from unconsolidated investments, net-$60.0M-$61.0M-$61.0M
Allowance for funds used during construction-$89.0M-$75.0M-$100.0M
Other$1.0M-$3.0M$3.0M
Total other (income) and deductions$364.0M$310.0M$236.0M
Income before income taxes$661.0M$576.0M$707.0M
Income tax expense (benefit)-$149.0M-$114.0M$4.0M
Net income attributable to common shareowners$810.0M$690.0M$703.0M
Basic (in shares)257.0M shares256.5M shares253.0M shares
Diluted (in shares)257.8M shares256.8M shares253.3M shares
Basic (in dollars per share)$3.15$2.69$2.78
Diluted (in dollars per share)$3.14$2.69$2.78

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The story

Interstate Power and Light Company (IPL) expanded greatly in the late 1920s to include operations in Iowa, Wisconsin, Minnesota, North and South Dakota, Nebraska, Oklahoma, and Manitoba (Canada). One of the largest purchases in the late 1920s was the purchase of what became its northern Minnesota territory from the Wilbur Foshay interests.

In the 1930s and 1940s, the effects of the Depression and passage of laws to regulate utility operations at the state and federal level had an effect on IPC as well as its neighbors. In Iowa, the legislature passed laws making it easier for cities to establish municipal utilities (and indeed, there are over 100 municipal utilities in Iowa today). By 1940, the state of Nebraska had passed laws that forced all investor-owned utilities in that state to sell their operations to one of several "public power districts" operating in that state.

During the 1940s, IPC divested itself of all its operations that were not part of its main territory in southern MN / northern Iowa. The largest chunk of territory was that operating in northeast ND / northern MN / Emerson, Manitoba which was sold in summer 1943 and fall 1944. The SD properties (around Winner) were sold in 1946. It would not be until 1956 when the last isolated district — the area around Waconia, MN — was sold to Northern States Power.

As IPC sold its properties that were isolated from the main system, it picked up others that were adjacent to its system and more easily interconnected: the Eastern Iowa Power system, and the Iowa / Minnesota properties of the Central States Power and Light Corporation.

The Wisconsin operations were transferred to Wisconsin Power and Light to comply with that state's local ownsherip laws, but remains part of Alliant's operations to this day.

The other part of IPL — IES Utilities — incorporated in Iowa in 1925 as the Iowa Railway and Light Corporation and was later known as Iowa Electric Light and Power Company. IES expanded across that part of Iowa south of IPC's territory, eventually acquiring the Iowa operations of the Union Electric Company of St. Louis, MO.

IES and IPC merged in the mid-1990s to form IPL. Today, IPL provides electricity and gas to communities in Iowa, while WPL serves southern and central Wisconsin.

In late 2007, Alliant Energy received final approval to sell their utility services in Illinois to Jo-Carroll Energy.

Read the full text

In 2000, the utility purchased the naming rights to the campus of the Dane County Expo Center just southwest of downtown Madison, including the county-owned arena, which were all renamed the Alliant Energy Center.

In the 1970s IES constructed the Duane Arnold Energy Center, a 615 MW nuclear plant in Palo, Iowa. In 2006, Alliant closed a deal with FPL Energy to sell their stake in the plant.

Alliant Energy also provides several non-regulated services, including ground transportation and energy engineering (such as wind and geothermal energy).

In 2007 it acquired 200 MW Buffalo Creek Wind Farm at Hampton, Iowa from Wind Capital Group.

Alliant Energy sold to ITC Holdings their transmission system (34.5 kV, 69 kV, 115 kV, 161 kV and 345 kV) in Iowa and Minnesota in 2007.

In 2015, the company finalized the sale of its Minnesota territory to a consortium of 12 electric cooperatives operating in that state.

In 2016, Alliant began offering a $500 rebate for its customers who purchase a home charging station for electric vehicles. To encourage the use of electric vehicles in Madison, Wisconsin, the company also offered free public charging at its Madison office.

On October 23, 2020, the city of Cedar Rapids, Iowa, which is serviced by Alliant, announced it had reached a 12-year agreement for naming rights to the downtown convention center complex formerly known as the U.S. Cellular Center. The facility was renamed Alliant Energy Power House.

From Wikipedia’s article on Alliant Energy, shared under CC BY-SA 4.0.6

Leadership

Who has led Alliant Energy, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (11)

Products and brands

  • electricity

Listed on Wikidata.1

Interstate Power and Light Company (IPL) is a public utility that generates and distributes electricity and distributes and transports natural gas in Iowa

Wisconsin Power and Light Company (WPL) provides similar services as IPL in southern and central Wisconsin

Travero, Inc is logistics company providing services including brokerage, trucking, rail, transloading, and warehousing.

From Wikipedia’s article on Alliant Energy, shared under CC BY-SA 4.0.6

Former names

  • ALLIANT ENERGY CORPDec 15, 1999 to Oct 14, 20265
  • INTERSTATE ENERGY CORPMay 27, 1998 to May 13, 19995
  • WPL HOLDINGS INCNov 14, 1994 to Feb 23, 19985

Timeline

  1. Jan 1, 2024New chief executive Lisa M. Barton becomes CEO1
  2. Jul 1, 2019New chief executive John O. Larsen becomes CEO1
  3. 1981Founded Founded1

Recent filings

  1. Oct 14, 20264
  2. Oct 14, 20264
  3. Oct 14, 20264
  4. Oct 14, 20264
  5. Oct 14, 20264
  6. Oct 14, 20264
  7. Oct 14, 20264
  8. Oct 14, 20264
  9. Aug 12, 20264
  10. Jul 14, 20264
  11. Jul 14, 20264
  12. Jul 14, 20264
  13. Jul 14, 20264
  14. Jul 14, 20264
  15. Jul 14, 20264

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2