IDA
IDACORP, Inc.
IDA has the edge over SMR overall, supported by stronger fundamentals and lower modeled downside.
SMR
NuScale Power Corporation
SMR offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
IDA Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Weak | |
| Weak |
IDA's revenue and profitability are currently healthy, but its cash flow and balance sheet are weak.
SMR Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Weak | |
| Weak | |
| Unavailable |
SMR's revenue, profitability and cash flow are currently weak. There isn't enough data to rate its balance sheet.
IDA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 19x | $122 | -16% |
| Fair | 21x | $136 | -6.9% |
| Current | 22x | $146 | — |
| Forward | 22x | $146 | — |
| Expensive | 23x | $149 | +2% |
Historical ranges are pointers, not guarantees.
IDA's PE is 22x, but its earnings don't support one, so it isn't a reliable read right now.
SMR PE Valuation
SMR has no meaningful PE right now: it lost money over the past year.
IDA Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for IDA, with profitability holding steady. However, they disagree widely on these estimates.
SMR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| -- | |
| Limited | |
| High |
Analysts expect SMR's losses to shrink, with revenue growing.
IDA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.77 | +3.9% |
| Q3 2026 | $6.51 | +11% |
| Q2 2026 | $6.04 | +6% |
| Q1 2026 | $6.01 | +6.4% |
| Q4 2025 | $5.90 | +7.3% |
| Q3 2025 | $5.84 | +8.3% |
| Q2 2025 | $5.70 | +6.7% |
| Q1 2025 | $5.65 | +13% |
| Q4 2024 | $5.50 | +7% |
IDA has the edge over SMR on earnings quality, reporting a profit while its opponent remains loss making.
SMR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.72 | +$2.14 |
| Q2 2026 | -$2.46 | -$1.27 |
| Q1 2026 | -$2.46 | -$1.09 |
| Q4 2025 | -$2.43 | -$0.96 |
| Q3 2025 | -$2.86 | -$1.91 |
| Q2 2025 | -$1.19 | -$0.16 |
| Q1 2025 | -$1.37 | -$0.52 |
| Q4 2024 | -$1.47 | -$0.67 |
SMR is still losing money, but far less than before: $0.72 per share over the past year, against $2.86 at its worst in late 2025.
IDA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $614.8M | +17% |
| Q2 2026 | $469.8M | +4.6% |
| Q1 2026 | $403.4M | -1.9% |
| Q4 2025 | $360.1M | -4.2% |
| Q3 2025 | $526.4M | -1.1% |
| Q2 2025 | $449.3M | +1.5% |
| Q1 2025 | $411.1M | -1.6% |
| Q4 2024 | $375.9M | +1% |
IDA's revenue has picked up after two years of holding roughly level: $615M last quarter, up 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 29% | +1.6 points |
| Q2 2026 | 28% | +5.4 points |
| Q1 2026 | 20% | +6.8 points |
| Q4 2025 | 15% | +3.9 points |
| Q3 2025 | 28% | +2.4 points |
| Q2 2025 | 22% | -0.9 points |
| Q1 2025 | 13% | +1.5 points |
| Q4 2024 | 11% | +1.1 points |
IDA has the edge over SMR on profitability, with a higher operating margin.
SMR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $281K | -97% |
| Q2 2026 | $75K | -99% |
| Q1 2026 | $565K | -96% |
| Q4 2025 | $1.8M | -95% |
| Q3 2025 | $8.2M | +1635% |
| Q2 2025 | $8.1M | +733% |
| Q1 2025 | $13.4M | +870% |
| Q4 2024 | $34.2M | +651% |
SMR has the edge over IDA on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -23068% | -16535 points |
| Q2 2026 | -85337% | -84802 points |
| Q1 2026 | -10181% | -9917 points |
| Q4 2025 | -4022% | -3988 points |
| Q3 2025 | -6533% | +2103 points |
| Q2 2025 | -535% | +3796 points |
| Q1 2025 | -264% | +2925 points |
| Q4 2024 | -35% | +1524 points |
SMR's operating margin was −23068% last quarter, down 16535 points from the same quarter a year ago, near the bottom of its range since 2022.
IDA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$170.3M | -$42.5M |
| Q2 2026 | -$333.3M | -$176.9M |
| Q1 2026 | -$295.7M | -$218.7M |
| Q4 2025 | -$216.2M | -$167.3M |
| Q3 2025 | -$127.9M | -$111.8M |
| Q2 2025 | -$156.4M | +$43.2M |
| Q1 2025 | -$77M | +$73.3M |
| Q4 2024 | -$48.9M | +$30.1M |
SMR has the stronger cash trend. Its trailing FCF is down 161% versus its history, compared with IDA at down 323%.
SMR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$58.6M | -$25.3M |
| Q1 2026 | -$316.2M | -$293.3M |
| Q4 2025 | -$204.1M | -$177.6M |
| Q2 2025 | -$33.3M | +$2.7M |
| Q1 2025 | -$22.9M | +$10.6M |
| Q4 2024 | -$26.5M | +$46.8M |
| Q3 2024 | -$12.7M | +$15M |
| Q2 2024 | -$36M | +$4.5M |
SMR has burned cash in almost every quarter: −$608M over the past year, against −$95M the year before.
IDA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.5% | +1.4M shares |
| 1 year | +6.5% | +3.6M shares |
| 3 years | +15% | +7.9M shares |
| 5 years | +16% | +8M shares |
| Available history | +16% | +8.1M shares |
IDA has the edge over SMR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2019 | $40,000 |
SMR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +45.9M shares |
| 1 year | +178% | +263M shares |
| 3 years | +448% | +336M shares |
SMR has 410M diluted shares, up 178% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
IDA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.1x | High |
| Q2 2026 | 5.4x | High |
| Q1 2026 | 5.4x | High |
| Q4 2025 | 5.3x | High |
| Q3 2025 | 5.3x | High |
| Q2 2025 | 5.2x | High |
| Q1 2025 | 5.0x | High |
| Q4 2024 | 4.9x | High |
IDA's net debt is about 5.1 years of its operating earnings (EBITDA), down from 5.3 years a year ago.
SMR Net Leverage
SMR's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
IDA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.3 | Neutral |
| Stochastic | 84.4 | Overbought |
IDA's weekly RSI is 59 (neutral) and its Stochastic is 84 (overbought).
SMR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 29.5 | Oversold |
| Stochastic | 8.6 | Oversold |
SMR's weekly RSI is 30 (oversold) and its Stochastic is 9 (oversold).
IDA PE vs Utilities Sector
| Metric | IDA | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 20x | 10% above |
| PE % | 79 | 44 | 35 pts above |
IDA is trading at 22x earnings, in line with the Utilities sector's median of 20x, though its earnings don't support one.
SMR PE vs Utilities Sector
SMR has no meaningful PE right now: it lost money over the past year.
IDA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $139.4 | 4.9% above |
| 20 week MA | $141.0 | 3.6% above |
| 50 week MA | $139.7 | 4.6% above |
| 100 week MA | $129.6 | 13% above |
| 200 week MA | $114.9 | 27% above |
IDA has the edge over SMR on trend strength, trading above more of its moving averages.
SMR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.26 | 23% below |
| 20 week MA | $7.88 | 39% below |
| 50 week MA | $11.4 | 58% below |
| 100 week MA | $20.2 | 76% below |
| 200 week MA | $14.4 | 67% below |
SMR is in a downtrend: it's below all five of its weekly moving averages, and 67% below its 200-week average.
IDA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $106.6 | $95.1 | -11% |
| 2021 | $95.1 | $109.2 | +15% |
| 2022 | $109.2 | $107.9 | -1.2% |
| 2023 | $107.9 | $98.3 | -8.9% |
| 2024 | $98.3 | $109.7 | +12% |
| 2025 | $109.7 | $127.0 | +16% |
| 2026 YTD | $127.0 | $146.2 | +15% |
IDA has the edge over SMR on returns for 2026, with the stronger performance.
SMR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.1 | $10.3 | +1.2% |
| 2021 | $10.3 | $10.1 | -1.9% |
| 2022 | $10.1 | $10.1 | +0.5% |
| 2023 | $10.1 | $3.29 | -67% |
| 2024 | $3.29 | $19.5 | +493% |
| 2025 | $19.5 | $14.9 | -24% |
| 2026 YTD | $14.9 | $4.82 | -68% |
SMR's yearly returns have swung widely, from +493% in 2024 to −67% in 2023. It's down 68% so far in 2026.