Otter Tail (OTTR) financial statements
Otter Tail reported revenue of $1.3B in fiscal 2025, up 5.5% a year over 9 years.
Net income was $276M and the operating margin 26.5%, against 14.5% in 2016.
Free cash flow was $98M, and the company returned $88M in dividends.
The diluted share count rose 9% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Otter Tail's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $804M | $849M | $916M | $920M | $890M | $1.2B | $1.5B | $1.3B | $1.3B | $1.3B |
| Cost of revenue | — | — | — | $355M | $329M | $488M | $543M | $454M | $435M | $403M |
| Gross profit | — | — | — | $564M | $561M | $708M | $917M | $895M | $896M | $901M |
| Selling, general and admin | — | — | — | — | — | $65M | $70M | $73M | $80M | $83M |
| Operating income | $117M | $132M | $129M | $135M | $148M | $250M | $390M | $378M | $380M | $346M |
| Interest expense | $32M | $30M | $30M | $31M | $34M | $38M | $36M | $38M | $42M | $47M |
| Pre-tax income | $83M | $100M | $97M | $104M | $116M | $213M | — | — | — | — |
| Income tax | $20M | $27M | $15M | $17M | $20M | $36M | $73M | $69M | $65M | $46M |
| Net income | $62M | $72M | $82M | $87M | $96M | $177M | $284M | $294M | $302M | $276M |
| EPS (diluted) | $1.61 | $1.82 | $2.06 | $2.17 | $2.34 | $4.23 | $6.78 | $7.00 | $7.17 | $6.55 |
| Diluted shares | 39M | 40M | 40M | 40M | 41M | 42M | 42M | 42M | 42M | 42M |
| Gross margin | — | — | — | 61.4% | 63.0% | 59.2% | 62.8% | 66.3% | 67.3% | 69.1% |
| Operating margin | 14.5% | 15.6% | 14.1% | 14.7% | 16.6% | 20.9% | 26.7% | 28.0% | 28.6% | 26.5% |
| Net margin | 7.8% | 8.5% | 9.0% | 9.4% | 10.8% | 14.8% | 19.5% | 21.8% | 22.7% | 21.2% |
Balance sheet
Fiscal years, from Otter Tail's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $0 | $16M | $861,000 | $21M | $1M | $2M | $119M | $230M | $295M | $441M |
| Receivables | $68M | $68M | $75M | $78M | — | — | — | — | — | — |
| Inventory | $84M | $88M | $106M | $98M | $92M | $148M | $146M | $150M | $149M | $159M |
| Total current assets | $208M | $239M | $241M | $255M | $235M | $369M | $453M | $570M | $630M | $800M |
| Property, plant and equipment | $1.5B | $1.5B | $1.6B | $1.8B | $2.0B | $2.1B | $2.2B | $2.4B | $179M | $171M |
| Goodwill | $38M | $38M | $38M | $38M | $38M | $38M | $38M | $38M | $38M | $38M |
| Total assets | $1.9B | $2.0B | $2.1B | $2.3B | $2.6B | $2.8B | $2.9B | $3.2B | $3.7B | $4.0B |
| Total current liabilities | $216M | $257M | $170M | $190M | $437M | $388M | $238M | $310M | $310M | $351M |
| Long-term debt | $505M | $490M | $590M | $690M | $624M | $734M | $824M | $824M | — | — |
| Total liabilities | $1.2B | $1.3B | $1.3B | $1.5B | $1.7B | $1.8B | $1.7B | $1.8B | $2.0B | $2.1B |
| Shareholders' equity | $670M | $697M | $729M | $781M | $871M | $991M | $1.2B | $1.4B | $1.7B | $1.9B |
| Net debt | $539M | $474M | $589M | $669M | $763M | $762M | $705M | $594M | -$295M | -$306M |
Cash flow
Fiscal years, from Otter Tail's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $163M | $174M | $143M | $185M | $212M | $231M | $389M | $404M | $453M | $386M |
| Capital spending | $161M | $133M | $105M | $207M | $372M | $172M | $171M | $287M | $359M | $288M |
| Free cash flow | $2M | $41M | $38M | -$22M | -$160M | $59M | $218M | $117M | $94M | $98M |
| Stock-based compensation | $3M | $4M | $4M | $6M | $6M | $7M | $7M | $8M | $10M | $9M |
| Dividends paid | — | $51M | $53M | $56M | $60M | $65M | $69M | $73M | $78M | $88M |
| Share buybacks (net) | -$104,000 | -$2M | -$3M | -$3M | -$2M | — | — | — | — | — |
| Net borrowing | $5M | $21M | $6M | $87M | $150M | $10M | -$23M | $73M | $108M | $91M |
| Free cash flow margin | 0.3% | 4.8% | 4.1% | -2.4% | -17.9% | 5.0% | 14.9% | 8.7% | 7.1% | 7.5% |
| Dividends per share | — | $1.27 | $1.33 | $1.39 | $1.47 | $1.55 | $1.64 | $1.74 | $1.86 | $2.09 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for OTTR.
Open OTTR in InvestinglyQuestions
What was Otter Tail's revenue in 2025?
$1.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Otter Tail generate?
$98M in fiscal 2025 (operating cash flow minus capital spending).
From Otter Tail's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.