CFC’s 2024 KRTA Results Show Financial Stability, Growth

CFC released the 2024 Key Ratio Trend Analysis (KRTA) report this month, providing an in-depth look at the financial and operational performance of 815 electric distribution cooperatives for the year ending Dec. 31, 2024.

Now in its 50th year, the KRTA continues to provide valuable insights into the financial health of the cooperative network. The latest results reaffirm that, amid elevated interest rates and persistent inflation, electric cooperatives maintained stable financial performance and steady consumer growth. Most notably, the 2024 results highlighted continued strong investment in utility plant—reinforcing the sector’s long-term commitment to infrastructure and service reliability.

“Amid a complex economic environment in 2024, rural electric cooperatives remained focused and adaptable,” CFC Senior Vice President and Chief Corporate Affairs Officer Brad Captain said. “Their performance this year reflects the continued strength of the cooperative business model.”

Consumer growth held steady in 2024, with nearly 89% of cooperatives reporting increases. Utah, Idaho and Florida were among those states with the highest growth rates. This steady expansion was accompanied by continued investment in utility plant, extending the momentum of sustained infrastructure growth seen in recent years. 

“Cooperatives are making smart, long-term investments to support future growth,” CFC Senior Vice President of Strategic Services Amy Luongo said. “Their focus remains on building stronger systems and serving their communities well.”

Electricity sales, which had moderated in 2023, rebounded in 2024—reflecting renewed growth in system usage across much of the network.

Financial ratios in 2024 continued to reflect the underlying strength of the cooperative network. The median equity-to-asset ratio remained solid at 45%, while long-term debt accounted for just under 43% of total assets—illustrating a well-balanced capital structure. Coverage ratios were also healthy, with the median times interest earned ratio at 2.60 and modified debt service coverage at 1.86, signaling strong earnings relative to debt obligations.

“These indicators underscore the ability of cooperatives to manage capital needs while maintaining financial flexibility and long-term stability,” Luongo said. 

CFC calculates 145 financial and operational ratios for each cooperative and provides a report showing the cooperative’s ratios compared with U.S., state and other key consumer group median values. Median reporting minimizes the effect of outliers and offers a more representative picture of overall performance.

CFC has published KRTA—an annual report that tracks the median value of 145 financial and operational ratios for participating electric distribution cooperatives over the previous five years—since 1975.

KRTA Pro Enhanced, New KRTA Pro ToolPak Available

KRTA Pro has introduced a new report, the Executive Summary, which offers a visual overview that allows users to analyze six key financial ratios at once. These can be displayed as interactive gauges or five-year trend lines, giving a quick, high-level snapshot of performance. This new report provides full flexibility to select and switch between any of the 145 ratios included in KRTA, enabling tailored reporting based on specific areas of interest or concern. 

In addition, a redesigned KRTA Pro ToolPak is now available to download. This new Excel-based tool was built to improve functionality and overall user experience. It enables members to chart KRTA data directly from the KRTA Pro CSV file, with customizable graphs, full peer group comparisons and integrated BudgetPro support. The updated ToolPak also includes flexible formatting options, histogram capabilities for visualizing data distribution and enhanced export features optimized for seamless integration with PowerPoint presentations. It is important to note that this will be the last year that the traditional KRTA ToolPak is supported. Users are encouraged to transition to the new version to take advantage of its expanded capabilities.

Members can use the KRTA Pro ToolPak User Guide to learn how to quickly navigate the three primary features of the Pro ToolPak: importing KRTA Ratios, visualizing KRTA data and exporting board-ready PowerPoint presentations.