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Canadian (TSX) Renewable Energy Industry Analysis

UpdatedJun 14, 2026
DataAggregated Company Financials
Companies13
  • 7D-2.6%
  • 3M13.9%
  • 1Y26.7%
  • YTD22.4%

Over the last 7 days, the Renewable Energy industry has dropped 2.7%, driven by a pullback from Bitzero Holdings of 31%. Meanwhile, TransAlta actually outperformed within the industry, gaining 6.0% in the last week. Over the past 12 months, the industry was up 27%. Earnings are forecast to grow by 10% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 14 Jun 2026CA$60.1bCA$18.6b-CA$368,019,726.76256.7x-163.3x3.2x
Tue, 12 May 2026CA$58.2bCA$18.2b-CA$350,542,626.01453.6x-165.9x3.2x
Thu, 09 Apr 2026CA$58.1bCA$18.4b-CA$145,073,037.98245.8x-400.5x3.2x
Sat, 07 Mar 2026CA$51.3bCA$18.3b-CA$119,428,231.0459.4x-429.3x2.8x
Mon, 02 Feb 2026CA$49.2bCA$20.1b-CA$152,488,482.2212.3x-322.4x2.4x
Wed, 31 Dec 2025CA$46.2bCA$17.8b-CA$620,985,355.433.3x-74.3x2.6x
Fri, 28 Nov 2025CA$48.6bCA$18.0b-CA$615,443,840.5513.5x-78.9x2.7x
Sun, 26 Oct 2025CA$55.5bCA$17.6b-CA$399,326,791.5212.6x-139.1x3.2x
Tue, 23 Sep 2025CA$47.6bCA$17.5b-CA$386,257,326.408.2x-123.4x2.7x
Thu, 21 Aug 2025CA$46.9bCA$17.5b-CA$388,611,520.588.3x-120.6x2.7x
Sat, 19 Jul 2025CA$51.3bCA$18.7bCA$302.9m18.9x169.3x2.7x
Mon, 16 Jun 2025CA$49.2bCA$18.6bCA$309.7m19.5x158.9x2.6x
Wed, 14 May 2025CA$45.5bCA$19.0bCA$325.0m18.6x140.1x2.4x
Fri, 11 Apr 2025CA$41.7bCA$19.2bCA$681.4m18x61.2x2.2x
Sun, 09 Mar 2025CA$43.6bCA$19.4bCA$664.1m19.2x65.7x2.2x
Tue, 04 Feb 2025CA$42.3bCA$19.8b-CA$114,752,040.0418.8x-368.7x2.1x
Thu, 02 Jan 2025CA$55.5bCA$26.3b-CA$1,767,376,638.1120.3x-31.4x2.1x
Sat, 30 Nov 2024CA$59.2bCA$25.9b-CA$1,698,687,476.5419.1x-34.8x2.3x
Mon, 28 Oct 2024CA$58.9bCA$25.9bCA$2.0b13.8x29.7x2.3x
Wed, 25 Sep 2024CA$56.3bCA$25.4bCA$2.0b13.2x28.8x2.2x
Fri, 23 Aug 2024CA$51.0bCA$25.6bCA$2.0b11.6x26x2x
Sun, 21 Jul 2024CA$50.7bCA$25.3bCA$2.8b7.6x18.2x2x
Tue, 18 Jun 2024CA$53.1bCA$25.2bCA$2.8b8x19x2.1x
Thu, 16 May 2024CA$52.3bCA$25.0bCA$2.7b7.9x19.1x2.1x
Sat, 13 Apr 2024CA$44.9bCA$25.1bCA$894.2m11.7x50.2x1.8x
Mon, 11 Mar 2024CA$48.4bCA$24.8bCA$872.1m27.7x55.5x1.9x
Wed, 07 Feb 2024CA$49.1bCA$24.9bCA$1.1b16x43.2x2x
Fri, 05 Jan 2024CA$54.6bCA$24.7bCA$3.4b15.9x15.9x2.2x
Sun, 03 Dec 2023CA$54.1bCA$24.8bCA$3.5b15.2x15.7x2.2x
Tue, 31 Oct 2023CA$48.2bCA$24.4bCA$1.7b16.8x28x2x
Thu, 28 Sep 2023CA$51.7bCA$24.1bCA$1.7b18.2x30.3x2.1x
Sat, 26 Aug 2023CA$57.4bCA$24.2bCA$1.7b17.3x33.6x2.4x
Mon, 24 Jul 2023CA$61.8bCA$23.8bCA$2.8b25x22.3x2.6x
Wed, 21 Jun 2023CA$61.0bCA$23.8bCA$2.8b24.9x22x2.6x
Price to Earnings Ratio

22x


Total Market Cap: CA$61.0bTotal Earnings: CA$2.8bTotal Revenue: CA$23.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Renewable Energy Industry Price to Earnings3Y Average -31.5x202420252026
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 3.3x.
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 7.8% per year, which is driving profits down.

Industry Trends

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

CA Market1.46%
Utilities-0.21%
Renewable Energy-2.63%
Independent Power Producers and Energy Traders3.02%
Renewable Energy-4.68%
Industry PE
    Forecasted Growth
    • Analysts are most optimistic on the Independent Power Producers and Energy Traders industry, expecting annual earnings growth of 55% over the next 5 years.
    • This is better than its past earnings decline of 53% per year.
    • In contrast, the Renewable Energy industry is expected to see its earnings decline by 7.0% 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$18.766.0%
    +CA$318.6m    		24.4%PS2.5x
    		CPX Capital PowerCA$70.831.6%
    +CA$170.6m    		26.3%PE481.9x
    		PIF Polaris Renewable EnergyCA$14.8513.5%
    +CA$37.0m    		23.9%PE31.4x
    		MXG Maxim PowerCA$4.403.0%
    +CA$8.3m    		-2.2%PE21.1x
    		BLX BoralexCA$36.850.03%
    +CA$1.0m    		14.5%PS4.2x

    Latest News

    CBLU
    CA$0.035
    Clear Blue Technologies International
    7D
    -22.2%
    1Y
    -65.0%
    NUE
    CA$0.17
    NU E Power
    7D
    -2.9%
    1Y
    30.8%
    NPI
    CA$22.67
    Northland Power
    7D
    -0.5%
    1Y
    3.8%
    Narrative Update • Jun 13

    NPI: Offshore Agreement And Dividend Reset Will Support Future Upside Potential

    Analysts have raised their price targets on Northland Power to a range of approximately CA$24 to CA$25, reflecting updated views on the stock that incorporate a slightly lower modeled discount rate and a price-to-earnings (P/E) assumption near 18x. Analyst Commentary Recent Street research on Northland Power has centered on a cluster of price target revisions into the CA$24 to CA$25 range, with ratings generally anchored in the middle of the spectrum such as Sector Perform, Hold and Market Perform.
    TA
    CA$18.76
    TransAlta
    7D
    6.0%
    1Y
    24.4%
    PIF
    CA$14.85
    Polaris Renewable Energy
    7D
    13.5%
    1Y
    23.9%
    CPX
    CA$70.83
    Capital Power
    7D
    1.6%
    1Y
    26.3%
    Narrative Update • Jun 07

    CPX: Fair Value View Will Hinge On Margins And Contracted Cash Flows

    Analysts have trimmed their average price target on Capital Power by about CA$0.20. This reflects a mix of recent target cuts and initiations that point to more cautious assumptions on profit margins, even as revenue growth expectations and discount rate inputs are adjusted.
    BLX
    CA$36.85
    Boralex
    7D
    0.03%
    1Y
    14.5%
    Narrative Update • Jun 07

    BLX: Take Private Progress And Neutral Ratings Will Shape Return Profile

    Narrative update The consensus analyst price target for Boralex has edged down to CA$37.25, a CA$0.75 reduction, as analysts weigh the company’s progress toward a take private transaction with Brookfield Renewables, along with modest adjustments to discount rate and P/E assumptions. Analyst Commentary Recent Street research on Boralex has become more balanced as the stock trades closer to the proposed take private price with Brookfield Renewables and as valuation work is fine tuned around that outcome.
    AIBZ.U
    US$5.55
    Bitzero Holdings
    7D
    -30.9%
    1Y
    n/a
    MXG
    CA$4.40
    Maxim Power
    7D
    3.0%
    1Y
    -2.2%
    RE
    CA$0.36
    RE Royalties
    7D
    -6.4%
    1Y
    -23.2%
    WEB
    CA$1.05
    Westbridge Renewable Energy
    7D
    -11.8%
    1Y
    -65.0%
    RESO
    CA$0.12
    ReSolve Energie
    7D
    -14.3%
    1Y
    n/a
    NKW.H
    CA$0.065
    Oceanic Wind Energy
    7D
    -7.1%
    1Y
    0%