Date of Award

Spring 5-17-2019

Document Type

Project (696 or 796 registration)

Degree Name

Master of Science in Accounting & Finance


Graduate Studies

Committee Chair

Eduardo Pablo


OTTR, Financial Analysis, Valuation, Otter Tail Corporation


Otter Tail is a holding company with 5 subsidiaries residing in three different business segments: electric, which includes the production, transmission, distribution and sale of electric energy; manufacturing, which consists of businesses in the manufacturing contract machining, metal parts stamping, fabrication and painting, and production of material and handling trays and horticultural containers; and plastics, which consists of businesses producing polyvinyl chloride pipe. The electric segment provided electricity to more than 130,000 customers in western Minnesota, eastern North Dakota and northeastern South Dakota. The investment recommendation given in this report was based on a Corporate Valuation Model that discounts free cash flows at the Weighted Average Cost of Capital (WACC).