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Canadian (TSX) Renewable Energy Industry Analysis

UpdatedFeb 12, 2026
DataAggregated Company Financials
Companies10
  • 7D3.5%
  • 3M4.4%
  • 1Y27.2%
  • YTDn/a

In the last week, the Renewable Energy industry is up 3.5%, with Northland Power up 2.0%. Meanwhile, Bitzero Holdings actually underperformed within the industry, shrinking 5.9% in the last week. This means that the industry has gained 27% over the past year. In the next few years, earnings are forecast to decline by 39% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 12 Feb 2026CA$35.5bCA$12.0b-CA$354,732,637.373.4x-100.2x3x
Sat, 10 Jan 2026CA$32.0bCA$12.0b-CA$833,007,184.482.5x-38.4x2.7x
Mon, 08 Dec 2025CA$32.9bCA$12.0b-CA$829,780,664.503.3x-39.7x2.8x
Wed, 05 Nov 2025CA$39.3bCA$11.9b-CA$661,259,366.583.9x-59.4x3.3x
Fri, 03 Oct 2025CA$34.1bCA$11.8b-CA$648,357,630.494.6x-52.5x2.9x
Sun, 31 Aug 2025CA$32.2bCA$11.7b-CA$638,443,539.633.2x-50.4x2.8x
Tue, 29 Jul 2025CA$34.4bCA$11.4b-CA$367,029,172.929.2x-93.7x3x
Thu, 26 Jun 2025CA$35.3bCA$12.4b-CA$326,507,286.2215x-108x2.8x
Sat, 24 May 2025CA$32.5bCA$12.4b-CA$328,564,828.0720.6x-98.8x2.6x
Mon, 21 Apr 2025CA$29.7bCA$12.5b-CA$177,495,974.3138.9x-167.2x2.4x
Wed, 19 Mar 2025CA$32.9bCA$12.8b-CA$216,750,432.4339.4x-151.6x2.6x
Fri, 14 Feb 2025CA$29.6bCA$12.8b-CA$817,085,689.6922.1x-36.3x2.3x
Sun, 12 Jan 2025CA$24.8bCA$12.8b-CA$659,281,310.0124.3x-37.6x1.9x
Tue, 10 Dec 2024CA$42.4bCA$19.4b-CA$2,453,295,032.9323.9x-17.3x2.2x
Thu, 07 Nov 2024CA$46.1bCA$18.8bCA$783.3m20.8x58.9x2.5x
Sat, 05 Oct 2024CA$45.9bCA$18.4bCA$758.6m24.5x60.5x2.5x
Mon, 02 Sep 2024CA$41.5bCA$18.3bCA$753.9m24.4x55x2.3x
Wed, 31 Jul 2024CA$43.0bCA$18.1bCA$1.6b12.3x27.3x2.4x
Fri, 28 Jun 2024CA$44.1bCA$18.0bCA$1.6b12.9x28.3x2.5x
Sun, 26 May 2024CA$47.4bCA$18.0bCA$1.6b12.8x30.6x2.6x
Tue, 23 Apr 2024CA$35.9bCA$17.6b-CA$487,543,317.8735.3x-73.7x2x
Thu, 21 Mar 2024CA$37.3bCA$17.4b-CA$483,356,320.1837.2x-77.1x2.1x
Sat, 17 Feb 2024CA$40.3bCA$17.3bCA$51.3m29.2x786.9x2.3x
Mon, 15 Jan 2024CA$46.8bCA$17.1bCA$2.4b29.3x19.8x2.7x
Wed, 13 Dec 2023CA$44.5bCA$17.3bCA$2.4b28.4x18.6x2.6x
Fri, 10 Nov 2023CA$41.6bCA$17.4bCA$2.4b42.2x17x2.4x
Sun, 08 Oct 2023CA$40.5bCA$17.0bCA$1.2b40.4x35.1x2.4x
Tue, 05 Sep 2023CA$47.5bCA$17.0bCA$1.1b38.3x41.3x2.8x
Thu, 03 Aug 2023CA$48.0bCA$17.0bCA$2.4b45.8x20.3x2.8x
Sat, 01 Jul 2023CA$51.8bCA$16.9bCA$2.4b38.9x21.9x3.1x
Mon, 29 May 2023CA$55.0bCA$17.2bCA$2.4b27.5x22.9x3.2x
Wed, 26 Apr 2023CA$56.8bCA$16.8bCA$2.6b27.9x22.2x3.4x
Fri, 24 Mar 2023CA$53.7bCA$16.9bCA$2.6b26.3x21x3.2x
Sun, 19 Feb 2023CA$51.0bCA$16.5bCA$2.3b13x22.2x3.1x
Price to Earnings Ratio

22.2x


Total Market Cap: CA$51.0bTotal Earnings: CA$2.3bTotal Revenue: CA$16.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Renewable Energy Industry Price to Earnings3Y Average -6x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Renewable Electricity industry, and appear confident in long term growth rates.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • Total earnings for the Renewable Electricity industry have declined over the last three years, with the industry now making a loss overall.
  • Revenues have also declined 10% per year, which is driving profits down.

Industry Comparison

How does Canadian Renewable Energy compare with similar industries?

CA Market1.86%
Utilities0.72%
Renewable Energy3.89%
Renewable Energy3.52%
Independent Power Producers and Energy Traders4.79%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
NPI Northland PowerCA$19.582.0%
+CA$102.0m		13.2%PS2.2x
BLX BoralexCA$26.922.1%
+CA$56.5m		4.3%PS3.3x
PIF Polaris Renewable EnergyCA$12.471.5%
+CA$4.0m		-2.0%PS2.4x
REVV ReVolve Renewable PowerCA$0.1816.1%
+CA$2.1m		-12.2%PS2.8x
RE RE RoyaltiesCA$0.334.8%
+CA$652.8k		-31.3%PB10x

Latest News

NUE
CA$0.20
NU E Power
7D
-7.1%
1Y
-68.5%
BLX
CA$26.92
Boralex
7D
2.1%
1Y
4.3%
NPI
CA$19.58
Northland Power
7D
2.0%
1Y
13.2%

NPI: Future Returns Will Hinge On Offshore Execution And Polish Storage Delivery

Analysts have trimmed their targets on Northland Power in recent weeks, and our updated work reflects only a modest fair value adjustment to about C$22.15 as they factor in slower growth expectations, higher perceived risk, and slightly more conservative P/E assumptions. Analyst Commentary Recent Street research on Northland Power has centered on reassessing growth, execution risk, and how much of a discount the shares should carry, with several price targets reset in the C$19 to C$27 range and some rating downgrades following the latest investor communications.
PIF
CA$12.47
Polaris Renewable Energy
7D
1.5%
1Y
-2.0%
REVV
CA$0.18
ReVolve Renewable Power
7D
16.1%
1Y
-12.2%
BITZ.U
US$2.89
Bitzero Holdings
7D
-5.9%
1Y
n/a
GCA.X
CA$0.10
Gencan Capital
7D
25.0%
1Y
150.0%
WEB
CA$1.88
Westbridge Renewable Energy
7D
-5.1%
1Y
-43.4%
RE
CA$0.33
RE Royalties
7D
4.8%
1Y
-31.3%