Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Canadian (TSX) Renewable Energy Industry Analysis

UpdatedJun 01, 2026
DataAggregated Company Financials
Companies12
  • 7D4.7%
  • 3M17.5%
  • 1Y41.6%
  • YTD27.3%

In the last week, the Renewable Energy industry is up 4.7%, with Capital Power up 5.4%. During this same period, the Westbridge Renewable Energy underperformed, falling 6.7%. This takes the industry's 12 month performance to a gain of 42%. Earnings are forecast to grow by 8.8% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 01 Jun 2026CA$62.6bCA$18.5b-CA$365,198,482.92254.2x-171.4x3.4x
Wed, 29 Apr 2026CA$57.9bCA$18.3b-CA$145,326,620.84239.5x-398.1x3.2x
Fri, 27 Mar 2026CA$56.2bCA$18.4b-CA$115,307,204.0964.3x-487.1x3x
Sun, 22 Feb 2026CA$52.5bCA$18.0b-CA$139,373,247.9212.2x-376.5x2.9x
Tue, 20 Jan 2026CA$48.2bCA$18.0b-CA$627,393,110.903.2x-76.8x2.7x
Thu, 18 Dec 2025CA$47.5bCA$17.9b-CA$624,189,233.173.2x-76.1x2.7x
Sat, 15 Nov 2025CA$50.4bCA$18.0b-CA$616,083,936.0716.5x-81.8x2.8x
Mon, 13 Oct 2025CA$52.0bCA$17.6b-CA$394,009,386.607.1x-132x3x
Wed, 10 Sep 2025CA$46.5bCA$17.5b-CA$387,803,395.558x-119.8x2.7x
Fri, 08 Aug 2025CA$47.3bCA$17.5b-CA$53,441,031.5221.1x-884.3x2.7x
Sun, 06 Jul 2025CA$49.3bCA$18.6bCA$308.6m19.8x159.8x2.6x
Tue, 03 Jun 2025CA$46.1bCA$18.7bCA$304.1m18.6x151.6x2.5x
Thu, 01 May 2025CA$43.2bCA$19.1bCA$688.9m18.4x62.8x2.3x
Sat, 29 Mar 2025CA$43.8bCA$19.4bCA$668.3m19.3x65.5x2.3x
Mon, 24 Feb 2025CA$43.6bCA$19.6bCA$62.6m22x697.2x2.2x
Wed, 22 Jan 2025CA$39.1bCA$19.5bCA$63.6m20.4x615.3x2x
Fri, 20 Dec 2024CA$55.4bCA$26.3b-CA$1,768,915,002.9320.7x-31.3x2.1x
Sun, 17 Nov 2024CA$56.1bCA$26.0b-CA$1,712,710,611.9014.4x-32.8x2.2x
Tue, 15 Oct 2024CA$55.4bCA$25.7bCA$2.0b12.9x28.1x2.2x
Thu, 12 Sep 2024CA$52.8bCA$25.5bCA$2.0b12.3x26.9x2.1x
Sat, 10 Aug 2024CA$52.1bCA$25.7bCA$1.7b9.2x29.9x2x
Mon, 08 Jul 2024CA$51.9bCA$25.2bCA$2.8b7.8x18.7x2.1x
Wed, 05 Jun 2024CA$55.2bCA$25.2bCA$2.8b8x19.8x2.2x
Fri, 03 May 2024CA$47.3bCA$24.8bCA$845.5m7.5x55.9x1.9x
Sun, 31 Mar 2024CA$46.7bCA$24.9bCA$897.7m13.1x52x1.9x
Tue, 27 Feb 2024CA$46.2bCA$24.8bCA$579.4m28.3x79.7x1.9x
Thu, 25 Jan 2024CA$54.5bCA$24.8bCA$3.5b16.6x15.7x2.2x
Sat, 23 Dec 2023CA$55.3bCA$24.6bCA$3.4b16.1x16.1x2.2x
Mon, 20 Nov 2023CA$52.9bCA$25.0bCA$3.5b26.6x15.1x2.1x
Wed, 18 Oct 2023CA$48.4bCA$24.2bCA$1.7b17.8x28.3x2x
Fri, 15 Sep 2023CA$55.0bCA$24.1bCA$1.7b20x32.2x2.3x
Sun, 13 Aug 2023CA$56.4bCA$24.0bCA$1.7b16.7x33.2x2.4x
Tue, 11 Jul 2023CA$59.0bCA$23.8bCA$2.8b23.2x21.3x2.5x
Thu, 08 Jun 2023CA$64.8bCA$23.9bCA$2.8b20.1x23.3x2.7x
Price to Earnings Ratio

23.3x


Total Market Cap: CA$64.8bTotal Earnings: CA$2.8bTotal Revenue: CA$23.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Renewable Energy Industry Price to Earnings3Y Average -29.2x202420252026
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 3.4x.
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 8.2% per year, which is driving profits down.

Industry Trends

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

CA Market-0.35%
Utilities-0.42%
Renewable Energy4.71%
Independent Power Producers and Energy Traders6.19%
Renewable Energy4.16%
Industry PE
    Forecasted Growth
    • Analysts are most optimistic on the Independent Power Producers and Energy Traders industry, expecting annual earnings growth of 52% 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 7.3% 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
    		CPX Capital PowerCA$72.077.5%
    +CA$790.2m    		31.1%PE490.3x
    		TA TransAltaCA$19.634.1%
    +CA$229.3m    		45.0%PS2.6x
    		NPI Northland PowerCA$23.421.9%
    +CA$115.1m    		15.8%PS2.4x
    		BITZ.U Bitzero HoldingsUS$5.7520.8%
    +US$54.6m    		n/aPS11.9x
    		BLX BoralexCA$36.950.2%
    +CA$8.2m    		17.0%PS4.2x

    Latest News

    NPI
    CA$23.42
    Northland Power
    7D
    1.9%
    1Y
    15.8%
    Narrative Update • May 29

    NPI: Offshore Contract Progress And Neutral Outlook Support Balanced Future Expectations

    Analysts have lifted the implied fair value estimate for Northland Power to CA$25.21 from CA$24.54. This reflects a series of price target increases to CA$25 that are supported by updated assumptions for slightly higher revenue growth, a modestly lower discount rate, and a marginally lower future P/E and profit margin.
    BITZ.U
    US$5.75
    Bitzero Holdings
    7D
    20.8%
    1Y
    n/a
    TA
    CA$19.63
    TransAlta
    7D
    4.1%
    1Y
    45.0%
    BLX
    CA$36.95
    Boralex
    7D
    0.2%
    1Y
    17.0%
    Narrative Update • May 23

    BLX: Pending Take Private Deal And Mixed Ratings Will Shape Returns

    Analysts have nudged the fair value estimate for Boralex higher to CA$36.88 from CA$36.43, reflecting mixed research updates that include both target cuts related to the pending Brookfield Renewables take private transaction and price target increases from other firms. Analyst Commentary Recent research updates around Boralex cluster around the pending take private transaction with Brookfield Renewables, which is influencing both ratings and price targets.
    PIF
    CA$13.09
    Polaris Renewable Energy
    7D
    2.9%
    1Y
    8.2%
    MXG
    CA$4.39
    Maxim Power
    7D
    0.9%
    1Y
    1.9%
    CPX
    CA$72.07
    Capital Power
    7D
    7.5%
    1Y
    31.1%
    Analysis Article • May 04

    Downgrade: Here's How Analysts See Capital Power Corporation (TSE:CPX) Performing In The Near Term

    The analysts covering Capital Power Corporation ( TSE:CPX ) delivered a dose of negativity to shareholders today, by...
    WEB
    CA$1.37
    Westbridge Renewable Energy
    7D
    -8.7%
    1Y
    -51.8%
    NUE
    CA$0.14
    NU E Power
    7D
    -3.3%
    1Y
    -6.5%
    RESO
    CA$0.14
    ReSolve Energie
    7D
    -6.9%
    1Y
    n/a
    NKW.H
    CA$0.05
    Oceanic Wind Energy
    7D
    42.9%
    1Y
    0%
    AKH.H
    CA$0.025
    Alaska Hydro
    7D
    -16.7%
    1Y
    -16.7%