Start with its own history
At 23.82×, ALE is 20.4% above its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · ALEDiversified UtilitiesUpdated Oct 28, 2026
ALLETE, Inc. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
23.82×
20.4% abovethe 10-year annual average
Share price67.9
÷Earnings per share2.85
Price and EPS in quote currency. Calculation details
Investors are paying 23.82 for every 1 of reported earnings per share.
P/E over time
2015 – 2024
Annual P/ESelected-period average 19.78×
3-year average18.03×3 positive annual observations
5-year average18.62×5 positive annual observations
10-year average19.78×10 positive annual observations
Peer median · TTM20.04×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2024 | 20.85× | +47.0% |
| Dec 31, 2023 | 14.18× | -25.6% |
| Dec 31, 2022 | 19.05× | -7.3% |
| Dec 31, 2021 | 20.55× | +11.3% |
| Dec 31, 2020 | 18.45× | -18.2% |
| Dec 31, 2019 | 22.57× | +0.5% |
| Dec 31, 2018 | 22.46× | +2.4% |
| Dec 31, 2017 | 21.94× | +7.6% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2016 | 20.38× | +17.1% |
| Dec 31, 2015 | 17.41× | -8.1% |
| Dec 31, 2014 | 18.95× | +0.3% |
| Dec 31, 2013 | 18.89× | +19.4% |
| Dec 31, 2012 | 15.82× | +0.3% |
| Dec 31, 2011 | 15.78× | -6.8% |
| Dec 31, 2010 | 16.94× | -2.1% |
| Dec 31, 2009 | 17.29× | +51.1% |
| Dec 31, 2008 | 11.44× | -10.7% |
| Dec 31, 2007 | 12.81× | -23.5% |
| Dec 31, 2006 | 16.74× | -75.3% |
| Dec 31, 2005 | 67.69× | +156.0% |
| Dec 31, 2004 | 26.44× | +601.6% |
| Dec 31, 2003 | 3.77× | -15.8% |
| Dec 31, 2002 | 4.47× | -2.7% |
| Dec 31, 2001 | 4.60× | +17.5% |
| Dec 31, 2000 | 3.91× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How ALE compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 ALE This stockALLETE, Inc. | 23.82× |
 MGEEMGE Energy, Inc. | 17.92× |
 NWENorthwestern Energy Group Inc | 29.39× |
 ACLTFATCO Ltd. | 52.65× |
 ACLLFATCO Ltd. | 52.65× |
 BKHBlack Hills Corporation | 20.16× |
 IRDEFIren S.p.A. | 10.60× |
 OTTROtter Tail Corporation | 19.91× |
 AVAAvista Corporation | 13.37× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does ALE’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 20.04×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take ALE into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("ALE", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 67.9 ÷ EPS 2.85 = 23.82×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Oct 28, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
ALE P/E ratio: common questions
The essentials behind the numbers.
ALLETE, Inc.'s current P/E is 23.82× based on the quote data last updated Oct 28, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.