Allete Inc (ALE)

Return on equity (ROE)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	247,100	247,300	195,100	181,200	189,300	199,500	193,400	183,700	169,200	145,600	158,700	150,900	165,400	176,800	167,300	181,400	185,600	197,000	196,500	193,600
Total stockholders’ equity	US$ in thousands	2,809,600	2,786,600	2,734,100	2,715,500	2,691,900	2,682,600	2,680,400	2,449,300	2,404,300	2,340,000	2,322,600	2,320,700	2,294,600	2,281,000	2,265,700	2,271,100	2,231,900	2,207,800	2,205,000	2,198,700
ROE		8.79%	8.87%	7.14%	6.67%	7.03%	7.44%	7.22%	7.50%	7.04%	6.22%	6.83%	6.50%	7.21%	7.75%	7.38%	7.99%	8.32%	8.92%	8.91%	8.81%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $247,100K ÷ $2,809,600K
= 8.79%

Allete, Inc.'s return on equity (ROE) fluctuated over the past eight quarters, ranging from 6.67% to 8.87%. The highest ROE was recorded in Q3 2023 at 8.87%, while the lowest was in Q1 2023 at 6.67%. Overall, the company's ROE trended slightly upwards from Q1 2022 to Q3 2023, indicating a positive performance in generating profits relative to shareholder equity. This suggests that Allete, Inc. has been effectively utilizing shareholders' investments to generate earnings during the period under review, albeit with some variability in performance across quarters.