IDA - Comprehensive Filing Intelligence

FY 2025•10-K•Filed Feb 19, 2026

6.0/10

Filing Health:GOOD

Solid fundamentals with minor concerns to monitor

Executive Summary

Cash flow generation is influenced by regulatory mechanisms (PCA/FCA) which, while mitigating earnings volatility, can cause fluctuations in operating cash flows due to timing differences in cost recovery.. Revenue decrease in UtilityOperations and AllOther segments.

Top Concerns

!Significant balance of regulatory assets and liabilities ($1.6 billion and $1.1 billion respectively) impacting timing of revenue and expense recognition.
!Potential for significant impacts if future recovery/refund of regulatory assets/liabilities ceases to be probable.
!Regulatory Risk (high)
!Cybersecurity and Technology Risk (high)

Top Positives

+Revenue growth was primarily driven by rate increases from a prior rate case and customer growth, partially offset by lower per-customer usage due to milder weather.
+Operating income improved due to higher retail revenues and lower purchased power costs, benefiting from milder weather and lower fuel costs.
+Significant capital expenditures are planned for infrastructure upgrades to meet growing demand and maintain reliability, indicating a growth-heavy investment strategy.

Analysis Dimensions

Our 5-pass AI analysis examines this filing across multiple dimensions. Each dimension score is derived from direct analysis of SEC filing text.

Narrative Intelligence

7.0/10

Management tone is confidently optimistic.

Full analysis includes: tone changes vs prior quarter, margin driver breakdown, forward guidance analysis, strategic priorities.

Accounting Quality

7.0/10

Earnings quality shows moderate accounting practices.

Full analysis includes: reserve and allowance changes, non-recurring item analysis, stock-based compensation impact, disclosure concerns.

Hidden Liabilities

Off-balance sheet risk is low.

Full analysis includes: cloud and purchase commitments, VIE/SPE exposure, covenant compliance status, refinancing risk assessment.

Risk Landscape

3.0/10

Overall risk profile shows regulatory risk as primary concern.

Full analysis includes: 8 risk categories with severity, new vs escalated risks, management response assessment, risk trend analysis.

Segment Performance

7.0/10

Segment health analysis shows UtilityOperations as strongest performer while AllOther lags.

Full analysis includes: segment-by-segment revenue breakdown, geographic concentration risk, customer concentration analysis, segment margin trends.