Does ALLIANT ENERGY CORP have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores ALLIANT ENERGY CORP (LNT) 40.7 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 100, returns on capital 3, balance-sheet safety 0, capital discipline 48.

Is LNT stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $48.30 per share versus a recent price of $74.82 — 55% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has LNT's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 40.7 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

ALLIANT ENERGY CORP

LNT · Utilities · $19.2B mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power100

Median gross margin 85.8% over 9y, very stable.

Returns on capital3

Median ROIC 5.8%, above the 9% hurdle in 0% of years.

Balance-sheet safety0

Net debt/EBITDA 6.2x, interest coverage 2x.

Capital discipline48

Owner earnings +8.7%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

55% above value

Owner earnings (normalized): $690.0M
Est. intrinsic value / share: $48.30
Recent price: $74.82
Discount to value: 55% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

19 years of fundamentals

The business, in plain English

ALLIANT ENERGY CORP booked $4.4B of revenue in FY2025 in the Utilities sector and kept 85.7% of it as gross profit — a high-margin business by that measure. After every other cost, 18.6% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $3.7B (FY2008) to $4.4B (FY2025) — about 1.0% a year compounded over 17 years.

It earned 5.4% on invested capital in FY2025, with a median of 6.1% across 18 filed years. The Returns on Capital filter above scores it 3/100.

The balance sheet carried $12.1B of total debt in FY2025 against $810.0M of owner earnings — roughly 15.0 years of owner earnings to retire it all. Balance-Sheet Safety scores it 0/100.

The share count rose 132.8% between FY2008 and FY2025 — existing owners have been diluted over the record. Capital Discipline scores it 48/100.

Put together: Pricing Power is the strongest of the four filters (100/100) and Balance-Sheet Safety the weakest (0/100), which is how LNT lands at 41/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$4.4B FY2025

Gross marginRevenue kept after cost of goods85.7% FY2025

Return on invested capitalOperating profit on the capital employed5.4% FY2025

Owner earningsCash an owner could take out$810.0M FY2025

Gaps in a line mean that item isn’t in LNT’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale40.7 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — LNT has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Utilities context

#16 of 48 scored Utilities companies, ranked by Moat Score.

Nearest peers by Moat Score

#14LNG CHENIERE ENERGY, INC.42.8 out of 100, Shallow moatShallow moat
#15NI NISOURCE INC.42.4 out of 100, Shallow moatShallow moat
#17PEG PUBLIC SERVICE ENTERPRISE GROUP INC40.6 out of 100, Shallow moatShallow moat
#18DUK DUKE ENERGY CORPORATION40.6 out of 100, Shallow moatShallow moat

Compare LNT with its nearest peers →All Utilities companies on the Index →

Common questions about LNT

Does ALLIANT ENERGY CORP have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores ALLIANT ENERGY CORP (LNT) 40.7 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 100, returns on capital 3, balance-sheet safety 0, capital discipline 48.
Is LNT stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $48.30 per share versus a recent price of $74.82 — 55% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has LNT's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 40.7 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell LNT. See the disclaimer.