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Canadian (TSX) Renewable Energy Industry Analysis

UpdatedJan 20, 2025
DataAggregated Company Financials
Companies14
  • 7D-0.7%
  • 3M-8.3%
  • 1Y6.5%
  • YTD-4.1%

Last week, the Renewable Energy industry hasn't moved much but TransAlta is up 8.2% in that time. The past year has been better, since the industry has gained 6.5% in that time. Looking forward, earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

Has the Canadian Renewable Energy Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 20 Jan 2025CA$39.0bCA$19.5bCA$59.2m20.2x659.5x2x
Wed, 18 Dec 2024CA$56.4bCA$26.2b-CA$1,756,040,780.6922.1x-32.1x2.1x
Fri, 15 Nov 2024CA$56.3bCA$26.0b-CA$1,701,716,329.0514.8x-33.1x2.2x
Sun, 13 Oct 2024CA$55.4bCA$25.7bCA$2.0b12.9x28.1x2.2x
Tue, 10 Sep 2024CA$50.5bCA$25.5bCA$2.0b11.8x25.7x2x
Thu, 08 Aug 2024CA$51.9bCA$25.7bCA$1.7b9.1x29.9x2x
Sat, 06 Jul 2024CA$52.6bCA$25.2bCA$2.8b7.8x18.9x2.1x
Mon, 03 Jun 2024CA$55.0bCA$25.2bCA$2.8b8.1x19.8x2.2x
Wed, 01 May 2024CA$44.4bCA$25.1bCA$894.4m11.3x49.6x1.8x
Fri, 29 Mar 2024CA$46.7bCA$24.9bCA$897.8m13.1x52x1.9x
Sun, 25 Feb 2024CA$46.8bCA$25.0bCA$512.3m28.6x91.4x1.9x
Tue, 23 Jan 2024CA$54.5bCA$24.8bCA$3.5b16.3x15.8x2.2x
Thu, 21 Dec 2023CA$55.5bCA$24.7bCA$3.4b15.7x16.1x2.2x
Sat, 18 Nov 2023CA$53.5bCA$25.0bCA$3.5b26.6x15.3x2.1x
Mon, 16 Oct 2023CA$48.2bCA$24.2bCA$1.7b17.4x28.1x2x
Wed, 13 Sep 2023CA$54.8bCA$24.1bCA$1.7b19.8x32.1x2.3x
Fri, 11 Aug 2023CA$57.1bCA$24.1bCA$1.9b16.7x29.6x2.4x
Sun, 09 Jul 2023CA$59.5bCA$23.8bCA$2.8b23.6x21.4x2.5x
Tue, 06 Jun 2023CA$64.9bCA$24.0bCA$2.8b20x23.3x2.7x
Thu, 04 May 2023CA$63.6bCA$23.4bCA$2.9b20.2x22x2.7x
Sat, 01 Apr 2023CA$65.4bCA$22.6bCA$2.7b44.9x24.4x2.9x
Mon, 27 Feb 2023CA$57.8bCA$22.4bCA$2.6b39.4x21.9x2.6x
Wed, 25 Jan 2023CA$62.6bCA$21.6bCA$1.6b27.2x39.5x2.9x
Fri, 23 Dec 2022CA$58.8bCA$21.8bCA$1.6b25.5x36.8x2.7x
Sun, 20 Nov 2022CA$62.3bCA$21.6bCA$1.6b29.3x39.3x2.9x
Tue, 18 Oct 2022CA$61.0bCA$21.0bCA$693.0m27.2x88x2.9x
Thu, 15 Sep 2022CA$77.8bCA$20.4bCA$675.7m36.8x115.2x3.8x
Sat, 13 Aug 2022CA$78.5bCA$20.1bCA$678.4m38.7x115.7x3.9x
Mon, 11 Jul 2022CA$71.0bCA$19.3b-CA$138,204,928.0034.9x-513.9x3.7x
Wed, 08 Jun 2022CA$70.3bCA$19.0b-CA$128,090,227.0036x-548.4x3.7x
Fri, 06 May 2022CA$69.3bCA$18.6bCA$492.4m43.5x140.6x3.7x
Sun, 03 Apr 2022CA$76.0bCA$18.4bCA$460.7m44x164.9x4.1x
Tue, 01 Mar 2022CA$69.3bCA$18.5bCA$434.5m40.8x159.5x3.8x
Thu, 27 Jan 2022CA$62.5bCA$17.8b-CA$1,721,728,037.0029.8x-36.3x3.5x
Price to Earnings Ratio

-36.3x


Total Market Cap: CA$62.5bTotal Earnings: -CA$1,721,728,037.00Total Revenue: CA$17.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Renewable Energy Industry Price to Earnings3Y Average 6.8x202320242025
Current Industry PE
  • Investors are optimistic on the Canadian Renewable Energy industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 660x which is higher than its 3-year average PE of 6.8x.
  • The 3-year average PS ratio of 2.7x is higher than the industry's current PS ratio of 2.0x.
Past Earnings Growth
  • Total earnings for the Renewable Energy industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 3.2% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the Canadian Utilities industry?

CA Market1.22%
Utilities1.39%
Renewable Energy-0.74%
Independent Power Producers and Energy Traders4.42%
Renewable Energy-3.76%
Industry PE
  • Investors are most optimistic about the Independent Power Producers and Energy Traders industry which is trading above its 3-year average PE ratio of 4.9x.
    • Analysts are expecting annual earnings decline of 21.3%, which is lower than the prior year's growth of 0.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 36% over the next 5 years.
  • This is better than its past earnings growth rate of 7.9% per year.
  • In contrast, the Independent Power Producers and Energy Traders industry is expected to see its earnings decline by 21% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
TA TransAltaCA$20.6810.7%
+CA$596.8m		103.1%PE39.1x
CPX Capital PowerCA$62.136.2%
+CA$504.5m		65.4%PE16.6x
NPI Northland PowerCA$19.243.9%
+CA$199.4m		-21.1%PS2.1x
INE Innergex Renewable EnergyCA$8.203.4%
+CA$54.9m		-11.5%PS1.6x
BLX BoralexCA$27.151.3%
+CA$34.9m		-16.9%PE31.3x
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Latest News

OEG.H

CA$0.035

ONEnergy

7D

133.3%

1Y

n/a

RE

CA$0.45

RE Royalties

7D

-4.3%

1Y

-5.3%

TA

CA$20.68

TransAlta

7D

10.7%

1Y

103.1%

NPI

CA$19.24

Northland Power

7D

3.9%

1Y

-21.1%

WEB

CA$0.79

Westbridge Renewable Energy

7D

-3.7%

1Y

-22.5%

BLX

CA$27.15

Boralex

7D

1.3%

1Y

-16.9%

Is Boralex (TSE:BLX) A Risky Investment?

Jan 09
Is Boralex (TSE:BLX) A Risky Investment?

CPX

CA$62.13

Capital Power

7D

6.2%

1Y

65.4%

Some Shareholders Feeling Restless Over Capital Power Corporation's (TSE:CPX) P/E Ratio

Jan 08
Some Shareholders Feeling Restless Over Capital Power Corporation's (TSE:CPX) P/E Ratio

MXG

CA$5.92

Maxim Power

7D

1.2%

1Y

36.7%

Returns At Maxim Power (TSE:MXG) Are On The Way Up

Dec 31
Returns At Maxim Power (TSE:MXG) Are On The Way Up

INE

CA$8.20

Innergex Renewable Energy

7D

3.4%

1Y

-11.5%

NUE

CA$0.54

NU E Power

7D

47.9%

1Y

n/a