ALLETE is well-positioned as a reliable provider of competitively-priced energy in the upper Midwest, and has a strategic investment in the American Transmission Company. ALLETE's Minnesota Power electric utility serves 144,000 residents, 16 municipalities and some of the nation's largest industrial customers. Other businesses include BNI Coal in North Dakota, ALLETE Clean Energy, a developer of energy projects with limited environmental impact, and ALLETE Properties, which owns 10,000 acres of real estate in northeast Florida. Would you like to work for a company with Boundless Opportunities? Then your future may be at ALLETE! We have career opportunities at various locations throughout northern, eastern and central Minnesota, Western Wisconsin, and North Dakota.

Duluth, US
Size (employees)
1,963 (est)+3%
Allete was founded in 1906 and is headquartered in Duluth, US

Allete Office Locations

Allete has offices in Duluth, Bismarck, Saint Michael and Salem
Duluth, US (HQ)
30 W Superior St
Saint Michael, US
12270 43rd St Ne
Bismarck, US
1637 Burnt Boat Dr

Allete Data and Metrics

Allete Financial Metrics

Allete's revenue was reported to be $1.3 b in FY, 2016 which is a 10% decrease from the previous period.
Numbers are in $, USD

Revenue (FY, 2016)

1.3 b

Revenue growth (FY, 2015 - FY, 2016), %


Gross profit (FY, 2016)

1.2 b

Gross profit margin (FY, 2016), %


Net income (FY, 2016)

155.8 m

EBIT (FY, 2016)

223.5 m

Market capitalization (26-May-2017)

3.7 b

Closing share price (26-May-2017)


Cash (31-Dec-2016)

27.5 m


5.3 b
Allete's current market capitalization is $3.7 b.
Numbers are in $, USDFY, 2013FY, 2014FY, 2015FY, 2016


1 b1.1 b1.5 b1.3 b

Revenue growth, %


Cost of goods sold

71.2 m77.9 m302.3 m144.7 m

Gross profit

947.2 m1.1 b1.2 b1.2 b

Gross profit Margin, %


Operating expense total

864.3 m948 m1.3 b1.1 b


154.1 m18.9 m210.7 m223.5 m

EBIT margin, %


Interest expense

50.3 m54.8 m64.9 m(70.3 m)

Pre tax profit

133.4 m162.2 m166.8 m

Income tax expense

28.7 m36.7 m25.3 m19.8 m

Net Income

104.7 m125.5 m141.5 m155.8 m
Numbers are in $, USDFY, 2013FY, 2014FY, 2015FY, 2016


97.3 m145.8 m97 m27.5 m

Accounts Receivable

96.3 m103 m121.2 m122.5 m


59.3 m80.5 m117.1 m

Current Assets

307 m418.8 m371 m294.5 m


2.6 b3.3 b

Total Assets

3.5 b4.4 b4.9 b4.9 b

Accounts Payable

99.9 m134.1 m88.8 m74 m

Total Debt

1.1 b1.4 b1.6 b1.6 b

Current Liabilities

230.2 m416 m275.4 m399.5 m

Retained Earnings

489.1 m530.1 m573.3 m625.9 m

Total Equity

1.3 b1.6 b1.8 b1.9 b

Debt to Equity Ratio

0.8 x0.9 x0.9 x0.8 x

Debt to Assets Ratio

0.3 x0.3 x0.3 x0.3 x

Financial Leverage

2.6 x2.7 x2.7 x2.6 x
Numbers are in $, USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

104.7 m125.5 m141.5 m155.8 m

Depreciation and Amortization

116.6 m135.7 m165.9 m195.8 m

Accounts Receivable

(8.6 m)(3.5 m)1.1 m(4.7 m)


10.5 m(18 m)(22 m)13.3 m

Accounts Payable

1.1 m10.9 m(19.3 m)6.5 m

Cash From Operating Activities

16.5 m48.5 m(48.8 m)

Purchases of PP&E

(328.5 m)(572.8 m)(286.8 m)(265.6 m)

Long-term Borrowings

(54.8 m)
Numbers are in $, USDY, 2016


23.5 x


696.7 k


0.8 x


0.3 x

Financial Leverage

2.6 x

Allete Market Value History

Allete Online and Social Media Presence

Allete Company Life and Culture

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