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Canadian (TSX) Renewable Energy Industry Analysis

UpdatedNov 06, 2025
DataAggregated Company Financials
Companies12
  • 7D-1.0%
  • 3M20.6%
  • 1Y23.6%
  • YTD21.5%

Over the last 7 days, the Renewable Energy industry has remained flat, although notably TransAlta declined by 3.8%. As for the the longer term, the industry is up 24% over the past 12 months. Looking forward, earnings are forecast to grow by 67% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 06 Nov 2025CA$57.2bCA$17.9b-CA$431,805,732.9716.1x-132.5x3.2x
Sat, 04 Oct 2025CA$50.5bCA$17.6b-CA$391,916,113.207x-128.8x2.9x
Mon, 01 Sep 2025CA$46.4bCA$17.4b-CA$382,387,810.638.8x-121.3x2.7x
Wed, 30 Jul 2025CA$49.4bCA$17.7bCA$260.8m18x189.4x2.8x
Fri, 27 Jun 2025CA$48.7bCA$18.7bCA$307.3m19.2x158.4x2.6x
Sun, 25 May 2025CA$45.4bCA$18.7bCA$301.2m19.4x150.7x2.4x
Tue, 22 Apr 2025CA$40.1bCA$19.1bCA$686.9m17.9x58.4x2.1x
Thu, 20 Mar 2025CA$44.2bCA$19.4bCA$665.9m19.2x66.4x2.3x
Sat, 15 Feb 2025CA$41.4bCA$19.5b-CA$96,605,311.4218.5x-428.9x2.1x
Mon, 13 Jan 2025CA$39.3bCA$19.5bCA$60.5m21.9x650.2x2x
Wed, 11 Dec 2024CA$56.2bCA$26.1b-CA$1,733,659,936.2919.7x-32.4x2.2x
Fri, 08 Nov 2024CA$55.5bCA$25.3bCA$1.5b15.6x37.3x2.2x
Sun, 06 Oct 2024CA$57.5bCA$25.5bCA$2.0b13.4x29.3x2.3x
Tue, 03 Sep 2024CA$51.1bCA$25.4bCA$2.0b12x26.1x2x
Thu, 01 Aug 2024CA$51.7bCA$25.3bCA$2.8b7.6x18.5x2x
Sat, 29 Jun 2024CA$53.2bCA$25.2bCA$2.8b7.7x19.1x2.1x
Mon, 27 May 2024CA$55.5bCA$25.2bCA$2.8b7.9x20x2.2x
Wed, 24 Apr 2024CA$44.8bCA$25.0bCA$896.5m11.7x50x1.8x
Fri, 22 Mar 2024CA$45.9bCA$24.9bCA$898.0m13.1x51.2x1.8x
Sun, 18 Feb 2024CA$47.6bCA$24.9bCA$1.1b16x42x1.9x
Tue, 16 Jan 2024CA$55.5bCA$24.7bCA$3.4b16.8x16.1x2.2x
Thu, 14 Dec 2023CA$52.4bCA$24.8bCA$3.5b15.2x15.1x2.1x
Sat, 11 Nov 2023CA$49.8bCA$25.1bCA$3.5b27.7x14.1x2x
Mon, 09 Oct 2023CA$48.7bCA$24.2bCA$1.7b17.4x28.4x2x
Wed, 06 Sep 2023CA$55.4bCA$24.2bCA$1.7b19.1x32.3x2.3x
Fri, 04 Aug 2023CA$56.1bCA$24.1bCA$2.8b19x20x2.3x
Sun, 02 Jul 2023CA$60.2bCA$23.8bCA$2.8b23.9x21.7x2.5x
Tue, 30 May 2023CA$64.1bCA$24.1bCA$2.8b19.8x22.9x2.7x
Thu, 27 Apr 2023CA$63.9bCA$22.7bCA$2.7b44.6x23.7x2.8x
Sat, 25 Mar 2023CA$62.0bCA$22.8bCA$2.7b43.1x22.9x2.7x
Mon, 20 Feb 2023CA$59.6bCA$21.9bCA$2.6b25.2x23.2x2.7x
Wed, 18 Jan 2023CA$63.2bCA$21.6bCA$1.6b27.8x39.8x2.9x
Fri, 16 Dec 2022CA$62.7bCA$21.8bCA$1.6b27.7x39.2x2.9x
Sun, 13 Nov 2022CA$64.9bCA$21.5bCA$1.6b29.6x41.1x3x
Price to Earnings Ratio

41.1x


Total Market Cap: CA$64.9bTotal Earnings: CA$1.6bTotal Revenue: CA$21.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Renewable Energy Industry Price to Earnings3Y Average 29.7x202320242025
Current Industry PE
  • Investors are optimistic on the Canadian Renewable Energy industry, and appear confident in long term growth rates.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 3.2x.
Past Earnings Growth
  • Total earnings for the Renewable Energy industry have declined over the last three years, with the industry now making a loss overall.
  • Revenues have also declined 6.0% per year, which is driving profits down.

Industry Trends

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

CA Market0.063%
Utilities0.10%
Renewable Energy-0.96%
Renewable Energy-0.40%
Independent Power Producers and Energy Traders-2.15%
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 21.9x.
    • Analysts are expecting annual earnings growth of 63.5%, which is higher than its past year's earnings decline of 36.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 68% over the next 5 years.
  • This is better than its past earnings decline of 51% per year.
  • In contrast, the Independent Power Producers and Energy Traders industry is expected to see its earnings grow by 63% 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
MXG Maxim PowerCA$4.752.4%
+CA$7.0m		7.7%PE21.5x
RESO ReSolve EnergieCA$0.21-57.0%
CA$3.2m		n/aPE16.1x
RE RE RoyaltiesCA$0.291.8%
+CA$270.0k		-38.3%PB6.4x

Latest News

PIF
CA$12.60
Polaris Renewable Energy
7D
-10.3%
1Y
-0.7%

Insufficient Growth At Polaris Renewable Energy Inc. (TSE:PIF) Hampers Share Price

Nov 06
Insufficient Growth At Polaris Renewable Energy Inc. (TSE:PIF) Hampers Share Price
CPX
CA$70.68
Capital Power
7D
-1.2%
1Y
23.4%
NUE
CA$0.16
NU E Power
7D
-8.6%
1Y
-61.9%
BLX
CA$27.75
Boralex
7D
-1.9%
1Y
-14.4%
RESO
CA$0.21
ReSolve Energie
7D
-57.0%
1Y
n/a
TA
CA$23.80
TransAlta
7D
-3.8%
1Y
63.8%

Share Buybacks and Expanding Demand Will Shape Renewable Outlook

TransAlta's analyst price target has been revised upward from $19.77 to $22.82. Analysts cite improved revenue growth expectations and a slight decrease in the perceived discount rate as key drivers of this increase.
NPI
CA$25.39
Northland Power
7D
-0.2%
1Y
28.4%
WEB
CA$2.33
Westbridge Renewable Energy
7D
-13.1%
1Y
-29.0%
RE
CA$0.29
RE Royalties
7D
1.8%
1Y
-38.3%
MXG
CA$4.75
Maxim Power
7D
2.4%
1Y
7.7%
SOLR
CA$0.015
Solar Alliance Energy
7D
-25.0%
1Y
-62.5%