ALLETE, Inc. Financial Ratios — ALE Stock

Profitability (USD)

	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Return on Common Equity (%)	19.18	12.2	8.15	8	8.29	8.1	8.25	8.58	8.15	8.36	7.6	7.12	7.36	8.91	6.3
Return on Assets (%)	3.01	3.42	3.17	3.11	3.18	3.05	3.18	3.46	3.4	3.49	3.01	2.71	2.85	3.66	2.67
Return on Capital (%)	8.76	7.86	6.09	6.07	6.05	6.09	6.28	6.64	- -	- -	- -	- -	- -	7.33	6.05
Return on Invested Capital (%)	4.91	5.78	5.29	5.11	5.3	6.46	5.27	5.83	- -	- -	- -	- -	- -	2.96	2.94
Gross Margin (%)	23.85	25.9	26.57	30.68	32.56	31.51	34.06	32.38	30.88	35.07	36.34	31.95	28.45	26.06	32.49
EBITDA Margin (%)	23.85	25.9	26.67	26.68	28.61	28.16	30.42	28.7	27.29	31.61	32.42	27.68	24.48	23.39	28.65
Operating Margin (%)	14.97	16.16	16.15	15.13	16.61	16.62	15.43	15.87	13.29	14.49	12.91	10.66	8.54	9.62	10.47
Incremental Operating Margin (%)	20.15	66.98	15.76	-1.92	29.31	16.65	27.47	23.24	-32.79	7.52	40.48	0.16	-11.29	15.11	5.94
Pretax Margin (%)	13.13	13.92	14.06	13.1	14.27	11.22	13.11	13.17	10.58	14.42	10.44	7.81	6.37	11	8.26
Profit Margin (%)	8.3	10.11	10.1	10.28	10.98	9.49	11.59	12.13	11.62	14.96	14.9	11.92	12.05	13.15	11.72
Net Income to Common Margin (%)	8.3	10.11	10.1	10.28	10.98	9.49	11.59	12.13	11.62	14.96	14.9	11.92	12.05	13.15	11.72
Effective Tax Rate (%)	37.2	27.55	28.13	21.51	22.63	15.17	11.28	7.87	- -	- -	- -	- -	- -	13.49	3.72
Dvd Payout Ratio (%)	81.83	66.49	71.16	71.82	66.4	69.38	65.71	63.12	66.05	65.48	86.04	123.97	199.05	140.47	253.98
Sustainable Growth Rate (%)	3.48	4.09	2.35	2.25	2.78	2.48	2.83	3.17	2.77	2.89	1.06	-1.71	-7.29	-3.61	-9.69

Credit (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Total Debt	786	864	1,018	1,110	1,377	1,594	1,558	1,503	1,486	1,642	1,819	1,994	1,921	1,791	1,799
ST Debt	14	6	84	27	104	37	188	64	58	220	210	219	273	111	95
LT Debt	772	858	934	1,083	1,273	1,557	1,370	1,439	1,428	1,423	1,610	1,775	1,648	1,680	1,705
Total Debt/EBITDA	3.63	3.6	3.97	4.09	4.23	3.81	3.82	3.69	3.63	4.19	4.8	5.08	5	4.07	4.11
Net Debt/EBITDA	3.43	3.18	3.66	3.73	3.79	3.58	3.76	3.45	3.47	3.94	4.62	4.92	4.9	3.91	4.03
Total Debt/EBIT	5.79	5.76	6.56	7.2	7.29	6.45	7.54	6.68	7.46	9.14	12.06	13.18	14.31	9.9	11.24
Net Debt/EBIT	5.46	5.09	6.04	6.57	6.52	6.06	7.4	6.24	7.11	8.59	11.61	12.77	14.04	9.5	11.03
EBITDA to Interest Expense	5.52	5.51	5.64	5.4	5.93	6.45	5.8	6.01	6.02	6.04	5.78	5.68	5.11	5.44	5.36
EBITDA-CapEx/Interest Expense	-0.83	0.03	-3.28	-1.13	-4.99	2.03	2.02	2.93	1.42	-3.16	-5.16	-1.25	2.18	2.09	1.02
EBIT to Interest Expense	3.46	3.44	3.41	3.06	3.45	3.81	2.94	3.32	2.93	2.77	2.3	2.19	1.78	2.24	1.96
Interest Expense	39	44	46	50	55	65	70	68	68	65	66	69	75	81	82
Common Equity/Total Assets	15.33	39.54	38.25	39.53	37.56	37.69	39.39	41.16	42.27	41.14	38.22	37.81	39.68	42.52	42.43
Long-Term Debt/Equity (%)	78.34	79.49	77.74	80.65	79	85.42	72.39	69.59	66.26	60.91	57.49	60.42	49.22	49.31	50.28
Long-Term Debt/Capital (%)	64.57	42.86	41.27	43.59	42.19	45.24	39.39	40.04	38.93	35.55	34.61	35.82	31.14	32.19	32.73
Long-Term Debt/Total Assets (%)	29.57	29.83	28.7	31.15	29.19	31.81	28.1	28.33	27.66	25.95	26.46	27.63	24.08	25.24	25.24
Total Debt/Equity (%)	79.8	80.09	84.77	82.67	85.48	87.47	82.31	72.69	68.93	70.32	64.97	67.87	57.37	52.58	53.08
Total Debt/Capital (%)	65.78	43.19	45	44.69	45.65	46.33	44.78	41.83	40.5	41.05	39.12	40.24	36.29	34.32	34.55
Total Debt/Total Assets (%)	30.13	30.06	31.29	31.93	31.58	32.57	31.95	29.59	28.77	29.96	29.9	31.04	28.06	26.91	26.64
Net Debt to Equity	75.24	70.72	78.04	75.43	76.43	82.14	80.86	67.9	65.73	66.13	62.59	65.78	56.28	50.47	52.11
Net Debt/Capital (%)	64.44	40.16	42.96	42.43	42.89	44.77	44.34	40.18	39.36	39.28	38.05	39.35	35.84	33.41	34.14
EBITDA	216	240	256	272	325	418	408	407	409	392	379	393	384	440	438
EBITDA-CapEx	-33	1	-149	-57	-273	132	142	199	96	-205	-339	-87	164	168	83
Operating Income (Loss)	136	150	155	154	189	247	207	225	199	180	151	151	134	181	160

Liquidity (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Cash Ratio	0.32	0.62	0.29	0.42	0.35	0.35	0.07	0.28	0.17	0.14	0.1	0.08	0.05	0.19	0.08
Current Ratio	1.51	1.7	0.96	1.33	1.01	1.35	0.74	1.05	0.83	0.53	0.55	0.54	1	1.24	1.08
Quick Ratio	0.95	1.11	0.6	0.84	0.6	0.79	0.38	0.67	0.53	0.33	0.34	0.31	0.24	0.55	0.45
CFO/Avg Current Liab	1.57	1.5	1.07	0.93	0.84	0.98	0.99	1.07	1.14	0.54	0.62	0.53	0.35	1.07	1.17
Common Equity/Total Assets	15.33	39.54	38.25	39.53	37.56	37.69	39.39	41.16	42.27	41.14	38.22	37.81	39.68	42.52	42.43
Long-Term Debt/Equity (%)	78.34	79.49	77.74	80.65	79	85.42	72.39	69.59	66.26	60.91	57.49	60.42	49.22	49.31	50.28
Long-Term Debt/Capital (%)	64.57	42.86	41.27	43.59	42.19	45.24	39.39	40.04	38.93	35.55	34.61	35.82	31.14	32.19	32.73
Long-Term Debt/Total Assets (%)	29.57	29.83	28.7	31.15	29.19	31.81	28.1	28.33	27.66	25.95	26.46	27.63	24.08	25.24	25.24
Total Debt/Equity (%)	79.8	80.09	84.77	82.67	85.48	87.47	82.31	72.69	68.93	70.32	64.97	67.87	57.37	52.58	53.08
Total Debt/Capital (%)	65.78	43.19	45	44.69	45.65	46.33	44.78	41.83	40.5	41.05	39.12	40.24	36.29	34.32	34.55
Total Debt/Total Assets (%)	30.13	30.06	31.29	31.93	31.58	32.57	31.95	29.59	28.77	29.96	29.9	31.04	28.06	26.91	26.64
CFO/Total Liabilities	14.08	13.45	11.67	11.22	9.81	11.07	11.22	13.38	14.33	7.85	9.13	7.56	6.33	18.01	13.59
CFO/CapEx	0.92	1.01	0.59	0.73	0.45	1.19	1.26	1.93	1.38	0.41	0.42	0.55	1	2.16	1.29
Altman's Z-Score	1.04	1.05	0.93	1.03	0.93	1.03	1.06	1.22	1.24	1.14	0.93	0.97	1.06	1.24	1.21

Working Capital (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Accounts Receivable Turnover	8.32	11.38	14.34	13.66	13.85	15.58	12.65	12.96	12.79	12.47	13.7	14.62	15.12	17.58	13.74
Days Sales Outstanding	43.86	32.09	25.46	26.72	26.36	23.43	28.85	28.17	28.53	29.26	26.65	24.96	24.13	20.77	26.57
Inventory Turnover	11.81	10.66	10.16	10.94	10.97	10.3	7.98	9.59	11.35	10.1	10.13	11.24	4.06	4.4	6.26
Days Inventory Outstanding	30.91	34.26	35.92	33.37	33.28	35.42	45.72	38.05	32.17	36.14	36.04	32.49	89.89	82.89	58.31
Accounts Payable Turnover	10.09	9.47	8.71	7.31	6.73	9.46	10.69	9.05	7.18	5.03	5.42	8.95	13.85	10.81	9.38
Accounts Payable Turnover Days	36.17	38.55	41.92	49.96	54.2	38.57	34.13	40.34	50.86	72.63	67.35	40.77	26.35	33.76	38.92
Cash Conversion Cycle	38.6	27.8	19.45	10.13	5.44	20.28	40.44	25.88	9.85	-7.23	-4.66	16.67	87.68	69.9	45.96
Inventory to Cash Days	12.95	-2.17	-10.45	-6.65	-6.92	-12	-16.87	-9.88	-3.64	-6.88	-9.4	-7.53	-65.76	-62.13	-31.74
Inventories	60	69	70	59	80	117	104	96	87	73	74	98	456	175	155
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	60	69	70	59	80	117	105	97	88	73	74	98	456	175	155

Enterprise Value (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Market Capitalization	737	898	977	1,304	1,621	1,749	2,338	2,876	3,067	3,382	2,705	3,037	3,288	3,348	3,739
- Cash & Cash Equivalents	45	101	81	97	146	97	28	99	69	69	44	45	36	72	33
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	9	- -	- -	- -	2	2	- -	- -	- -	104	506	533	656	598	542
+ Total Debt	786	864	1,018	1,110	1,377	1,594	1,558	1,503	1,486	1,642	1,819	1,994	1,921	1,791	1,799
Enterprise Value	1,480	1,661	1,914	2,317	2,854	3,249	3,869	4,281	4,484	5,059	4,986	5,518	5,829	5,665	6,048
Total Capital	1,195	2,002	2,262	2,484	3,017	3,441	3,479	3,594	3,669	4,002	4,651	4,955	5,294	5,219	5,208
Total Debt/Capital (%)	65.78	43.19	45	44.69	45.65	46.33	44.78	41.83	40.5	41.05	39.12	40.24	36.29	34.32	34.55
Total Debt / EV	0.53	0.52	0.53	0.48	0.48	0.49	0.4	0.35	0.33	0.32	0.36	0.36	0.33	0.32	0.3
EV/Sales	1.63	1.79	1.99	2.28	2.51	2.19	2.89	3.02	2.99	4.08	4.26	3.89	3.71	3.01	3.95
EV/EBITDA	6.84	6.91	7.47	8.53	8.78	7.76	9.49	10.51	10.97	12.9	13.15	14.05	15.16	12.88	13.8
EV/EBIT	10.9	11.07	12.33	15.04	15.12	13.15	18.72	19.01	22.51	28.14	33.04	36.47	43.43	31.32	37.78
EV/Cash Flow to Firm	5.84	6.08	7.03	8.31	9.14	8.22	9.74	9.2	8.86	16.1	12.9	15.8	18.22	8.65	11.29
EV/Free Cash Flow to Firm	2.95	3.24	2.82	3.81	3.13	4.76	5.84	6.35	5.48	5.55	4.51	6.66	10.79	6.12	6.79
Diluted Market Cap	739	900	977	1,307	1,628	1,753	2,348	2,888	3,079	3,388	2,705	3,042	3,294	3,354	3,745
Diluted Enterprise Value	1,489	1,664	1,914	2,320	2,862	3,252	3,878	4,292	4,496	5,065	4,986	5,524	5,835	5,671	6,055
EV per Share	43.28	47.05	50.91	58.36	66.53	67.26	78.48	84.27	87.41	98.04	96.06	105.31	104.27	98.86	104.82
TTM Sales	907	928	961	1,018	1,137	1,486	1,340	1,419	1,499	1,240	1,169	1,419	1,571	1,880	1,530
TTM EBITDA	216	240	256	272	325	418	408	407	409	392	379	393	384	440	438
TTM Operating Income	136	150	155	154	189	247	207	225	199	180	151	151	134	181	160
TTM Cash Flow to Firm	253	273	272	279	312	395	397	465	506	314	387	349	320	655	536
TTM Free Cash Flow to Firm	502	512	678	607	911	682	663	674	818	911	1,104	829	540	926	891

Multiples (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Price/Free Cash Flow	1.55	1.87	1.51	2.3	1.88	2.8	3.91	4.72	4.14	4.01	2.66	4.09	7.46	3.92	4.61
EV/EBIT	10.9	11.07	12.33	15.04	15.12	13.15	18.72	19.01	22.51	28.14	33.04	36.47	43.43	31.32	37.78
Enterprise Value	1,480	1,661	1,914	2,317	2,854	3,249	3,869	4,281	4,484	5,059	4,986	5,518	5,829	5,665	6,048
Low Price	29.99	35.14	37.73	41.39	44.19	45.29	48.26	61.64	66.64	72.5	48.22	56.84	47.77	49.29	55.86
EV/Sales	1.63	1.79	1.99	2.28	2.51	2.19	2.89	3.02	2.99	4.08	4.26	3.89	3.71	3.01	3.95
EV/EBITDA	6.84	6.91	7.47	8.53	8.78	7.76	9.49	10.51	10.97	12.9	13.15	14.05	15.16	12.88	13.8
Price/Earnings	9.78	9.57	10.06	12.46	12.99	12.4	15.06	16.7	17.62	18.22	15.53	17.95	17.37	13.55	20.85
Price/Earnings Average	8.99	8.65	9.83	11.96	11.52	12.19	13.5	16.02	17.08	18.27	14.97	17.62	16.09	12.8	19.58
Price/Earnings High	17.24	16.01	16.52	20.52	19.93	20.45	21.24	23.97	24.4	24.63	25.24	22.64	20.26	15.46	21.19
Price/Earnings Low	13.62	13.22	14.61	15.69	15.19	15.5	15.32	18.18	19.64	20.16	14.37	17.6	14.11	11.43	17.98
Price/Book Value	1.84	0.79	0.79	0.95	0.99	0.95	1.22	1.38	1.4	1.5	1.16	1.25	1.21	1.18	1.3
Price/Book Value Average	1.69	0.71	0.77	0.91	0.88	0.93	1.09	1.32	1.36	1.5	1.12	1.23	1.12	1.12	1.23
Price/Book Value High	3.25	1.32	1.29	1.56	1.52	1.56	1.72	1.97	1.95	2.03	1.89	1.58	1.41	1.35	1.33
Price/Book Value Low	2.56	1.09	1.14	1.2	1.16	1.19	1.24	1.5	1.57	1.66	1.08	1.23	0.98	1	1.12
Price/Tangible Book Value	0.75	0.83	0.81	0.97	1.01	1.09	1.39	1.56	1.59	1.45	0.97	1.03	1.03	1.03	1.16
Price/Tangible Book Value Average	0.69	0.75	0.79	0.93	0.89	1.07	1.25	1.5	1.54	1.45	0.93	1.02	0.95	0.97	1.09
Price/Tangible Book Value High	1.32	1.39	1.34	1.6	1.55	1.8	1.96	2.24	2.2	1.96	1.57	1.3	1.2	1.18	1.17
Price/Tangible Book Value Low	1.04	1.15	1.18	1.22	1.18	1.36	1.42	1.7	1.77	1.6	0.89	1.01	0.84	0.87	1
Price/Sales	0.81	0.97	1.02	1.28	1.43	1.18	1.75	2.03	2.05	2.73	2.31	2.14	2.09	1.78	2.44
Price/Sales Average	0.75	0.87	0.99	1.23	1.26	1.16	1.57	1.94	1.98	2.73	2.23	2.1	1.94	1.68	2.3
Price/Sales High	1.43	1.62	1.67	2.11	2.19	1.94	2.46	2.91	2.84	3.69	3.76	2.7	2.44	2.03	2.48
Price/Sales Low	1.13	1.34	1.48	1.61	1.67	1.47	1.78	2.21	2.28	3.02	2.14	2.1	1.7	1.5	2.11
Price/Cash Flow	3.22	3.71	4.08	5.45	6.01	5.14	6.98	7.14	7.11	13.7	9.02	11.52	14.86	5.72	8.18
Price/Cash Flow Average	2.96	3.36	3.98	5.23	5.33	5.06	6.26	6.85	6.89	13.73	8.7	11.32	13.76	5.4	7.68
Price/Cash Flow High	5.68	6.21	6.69	8.98	9.22	8.48	9.85	10.24	9.85	18.52	14.66	14.54	17.33	6.53	8.31
Price/Cash Flow Low	4.48	5.13	5.92	6.86	7.03	6.43	7.1	7.77	7.93	15.15	8.35	11.3	12.07	4.83	7.05
Price/Free Cash Flow Average	1.42	1.69	1.48	2.21	1.66	2.75	3.51	4.53	4.01	4.02	2.56	4.02	6.91	3.7	4.33
Price/Free Cash Flow High	2.73	3.13	2.49	3.79	2.88	4.61	5.52	6.78	5.74	5.43	4.32	5.17	8.7	4.47	4.69
Price/Free Cash Flow Low	2.15	2.59	2.2	2.9	2.19	3.5	3.98	5.14	4.61	4.44	2.46	4.02	6.06	3.3	3.98
EV/Sales Average	1.57	1.7	1.97	2.22	2.35	2.17	2.71	2.93	2.93	4.08	4.18	3.85	3.56	2.91	3.8
EV/Sales High	2.26	2.44	2.64	3.1	3.27	2.95	3.61	3.9	3.78	5.04	5.71	4.45	4.06	3.27	3.99
EV/Sales Low	1.96	2.16	2.45	2.61	2.75	2.48	2.92	3.2	3.23	4.37	4.09	3.85	3.32	2.73	3.62
EV/EBITDA Average	6.6	6.55	7.38	8.34	8.21	7.69	8.9	10.22	10.74	12.92	12.9	13.91	14.53	12.46	13.28
EV/EBITDA High	9.47	9.42	9.91	11.64	11.44	10.48	11.85	13.58	13.86	15.94	17.62	16.07	16.58	13.96	13.94
EV/EBITDA Low	8.21	8.34	9.19	9.78	9.62	8.81	9.59	11.14	11.83	13.82	12.62	13.9	13.55	11.69	12.62
EV/EBIT Average	10.51	10.5	12.19	14.7	14.15	13.03	17.55	18.49	22.04	28.18	32.4	36.11	41.63	30.29	36.35
EV/EBIT High	15.08	15.1	16.37	20.52	19.7	17.75	23.37	24.56	28.44	34.75	44.25	41.72	47.51	33.93	38.16
EV/EBIT Low	13.08	13.36	15.18	17.24	16.57	14.93	18.92	20.14	24.27	30.13	31.7	36.09	38.83	28.42	34.55
Last Price	21.54	25.43	25.98	32.85	37.78	36.22	47.43	56.62	59.79	65.54	52.12	57.95	58.82	58.43	64.8
High Price	37.95	42.54	42.66	54.13	57.97	59.73	66.92	81.24	82.82	88.6	84.71	73.1	68.61	66.69	65.86
Enterprise Value Average	1,427	1,575	1,891	2,266	2,671	3,219	3,627	4,164	4,390	5,067	4,889	5,464	5,586	5,479	5,820
Enterprise Value High	2,048	2,265	2,541	3,162	3,720	4,384	4,830	5,531	5,666	6,249	6,677	6,312	6,376	6,138	6,109
Enterprise Value Low	1,776	2,004	2,356	2,656	3,129	3,687	3,910	4,536	4,836	5,418	4,783	5,460	5,211	5,141	5,532

	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Shares Outstanding	36	38	39	41	46	49	50	51	52	52	52	53	57	58	58
Diluted Weighted Avg Shares	34	35	38	40	43	48	50	51	52	52	52	52	56	57	58
Basic Weighted Avg Shares	34	35	38	40	43	48	49	51	51	52	52	52	56	57	58
Revenue per Share	26.52	26.29	25.56	25.65	26.5	30.77	27.17	27.94	29.21	24.04	22.53	27.08	28.1	32.81	26.51
EBITDA per Share	6.32	6.81	6.82	6.84	7.58	8.66	8.27	8.02	7.97	7.6	7.3	7.5	6.88	7.67	7.6
Operating Income per Share	3.97	4.25	4.13	3.88	4.4	5.11	4.19	4.43	3.88	3.48	2.91	2.89	2.4	3.16	2.77
Basic EPS, GAAP	2.2	2.66	2.58	2.64	2.91	2.92	3.15	3.39	3.39	3.6	3.36	3.23	3.39	4.31	3.11
Basic EPS from Cont Ops	2.19	2.65	2.58	2.64	2.93	2.93	3.16	3.39	3.39	3.59	3.11	2.63	2.35	3.12	2.11
Diluted EPS, GAAP	2.2	2.65	2.58	2.63	2.9	2.92	3.14	3.38	3.38	3.59	3.36	3.22	3.38	4.3	3.1
Diluted EPS from Cont Ops	2.18	2.64	2.58	2.63	2.91	2.92	3.15	3.38	3.38	3.59	3.11	2.62	2.34	3.12	2.11
Dividend per Share	1.78	1.76	1.84	1.89	1.95	2.03	2.08	2.14	2.24	2.35	2.47	2.52	2.61	2.71	2.82
Cash Flow per Share	6.69	6.85	6.37	6.03	6.29	7.04	6.79	7.93	8.41	4.78	5.78	5.03	3.96	10.21	7.92
Free Cash Flow per Basic Share	-0.59	0.07	-4.42	-2.24	-7.66	1.1	1.41	3.83	2.32	-6.79	-8.05	-4.12	0.01	5.48	1.77
Cash & Equivalents per Share	1.51	2.86	2.15	2.45	3.4	2.01	0.56	1.95	1.35	1.34	0.85	0.86	0.65	1.25	0.57
Book Value per Share	11.69	32.22	33.09	34.62	38.17	38.19	38.97	41.16	42.56	43.71	44.81	46.34	48.59	49.39	49.67
Tangible Book Value per Share	28.8	30.58	31.94	33.83	37.45	33.28	34.07	36.27	37.67	45.24	53.95	56.04	57.11	56.74	56.06

ALLETE, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)