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  5. AQN: In an attempt to 'track' the hoped/wished for recovery of AQN, are there any quarterly trends in measures such as debt to equity or capital for say, the past 3 quarters? [Algonquin Power & Utilities Corp.]
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Q: In an attempt to 'track' the hoped/wished for recovery of AQN, are there any quarterly trends in measures such as debt to equity or capital for say, the past 3 quarters? How would such a metric compare to, say, a comparable figure for, say, early 2022? Any tho'ts. would be appreciated. Thanks for all that the team does. Bill
Asked by Bill on May 15, 2024
5i Research Answer:

Here is the net debt/EBITDA ratio of AQN over the past three quarters.

3Q-2023: 9.0x

4Q-2023: 8.8x

1Q-2024: 8.4x

The leverage level is moving in the right direction but still quite high compared to the average leverage level of FY2022 around 7.8x. Pre-2020, the AQN only runs a leverage level in the range of 5x-6x.

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