IDA vs POR: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of September 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: POR is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. IDA and POR share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined IDA and POR exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

IDACORP is the parent of Idaho Power Company, a vertically integrated regulated electric utility that generates, transmits, and distributes electricity to more than 640,000 customers across a growing territory in southern Idaho and eastern Oregon. Its earnings come mainly from regulated rates set by the Idaho Public Utilities Commission and Oregon regulators, so profitability is tied to the utility's allowed return on a growing rate base rather than to commodity prices. A hydro-heavy generation fleet plus purchased power and battery storage rounds out the resource mix.

Full IDA guide

Portland General Electric is a vertically integrated, regulated electric utility that generates, transmits, and distributes power to roughly 950,000 customers across a service territory in northwest Oregon, all under the oversight of the Oregon Public Utility Commission. Its earnings are set by that regulator through rate cases that let it recover the cost of, and earn an allowed return on, its invested capital (its rate base). The company is pushing hard into the clean energy transition while managing reliability and affordability, and it is one of the more direct utility plays on surging electricity demand from data centers and high-tech manufacturing in the region.

Full POR guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• IDA drivers: Data-center and industrial load growth; Customer growth and rate-base expansion.
• POR drivers: Data center and high-tech load growth; Rate base and capital plan.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: As a capital-intensive regulated utility, IDACORP depends on regulators granting adequate rates and returns on its large spending plan, and unfavorable rate-case outcomes would pressure earnings. For POR, as a rate-regulated utility, POR's returns depend on Oregon (and prospectively Washington) regulators approving cost recovery and allowed returns, and outcomes can lag rising costs during periods of heavy capital spending.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick IDA if you believe its drivers more; POR if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the IDA and POR guides.

IDA. IDACORP trades at a mid-20s trailing earnings multiple, a modest premium that reflects its above-average load growth. Revenue dipped year over year in Q1 2026 even as net income rose, a reminder that utility earnings track allowed returns more than top-line sales. The dividend yield of roughly 2.5% is on the lower side for utilities, consistent with the market pricing in growth.

POR. POR trades around $52 per share with a market capitalization near $6.1 billion as of July 2026. First quarter 2026 revenue of about $879 million and net income near $45 million fell below expectations, largely on mild winter weather that reduced residential and small-commercial usage, even as industrial demand grew. Like most regulated utilities, POR is valued heavily on its dividend yield, rate-base growth, and allowed returns rather than on rapid top-line growth.

Headline figures (approximate, JULY 2026): IDA shows revenue (ttm) ~$1.9B, q1 2026 revenue ~$403M, q1 2026 diluted eps ~$1.21, 2026 eps guidance ~$6.25 to $6.45; POR shows revenue (ttm) ~$3.4B, q1 2026 revenue ~$879M, q1 2026 net income ~$45M, market cap ~$6.1B.

IDA and POR are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined IDA and POR exposure against your real portfolio. It is not an investment adviser.