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Canadian (TSX) Renewable Energy Industry Analysis

UpdatedJun 17, 2026
DataAggregated Company Financials
Companies13
  • 7D-1.8%
  • 3M11.4%
  • 1Y27.5%
  • YTD23.2%

Over the last 7 days, the Renewable Energy industry has dropped 1.8%, driven by a pullback from Bitzero Holdings of 18%. In contrast, TransAlta has gained 8.9%. Over the past 12 months, the industry was up 27%. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 17 Jun 2026CA$60.9bCA$18.6b-CA$367,967,992.84262.9x-165.6x3.3x
Fri, 15 May 2026CA$58.3bCA$18.4b-CA$368,292,514.03231.6x-158.4x3.2x
Sun, 12 Apr 2026CA$60.0bCA$18.4b-CA$145,087,108.72248.7x-413.6x3.3x
Tue, 10 Mar 2026CA$51.9bCA$18.3b-CA$119,452,470.1859.4x-434.4x2.8x
Thu, 05 Feb 2026CA$49.7bCA$18.0b-CA$151,102,361.7112x-329.2x2.8x
Sat, 03 Jan 2026CA$46.4bCA$17.9b-CA$622,294,831.963.5x-74.5x2.6x
Mon, 01 Dec 2025CA$49.4bCA$18.0b-CA$631,340,409.0312.7x-78.2x2.7x
Wed, 29 Oct 2025CA$55.8bCA$17.6b-CA$397,121,560.4512.5x-140.5x3.2x
Fri, 26 Sep 2025CA$48.8bCA$17.6b-CA$391,473,138.337.5x-124.6x2.8x
Sun, 24 Aug 2025CA$47.0bCA$17.5b-CA$386,544,304.528.6x-121.5x2.7x
Tue, 22 Jul 2025CA$51.8bCA$18.7bCA$304.9m19.7x170x2.8x
Thu, 19 Jun 2025CA$49.2bCA$18.7bCA$304.1m19.9x161.6x2.6x
Sat, 17 May 2025CA$46.2bCA$18.9bCA$288.9m19.9x160x2.4x
Mon, 14 Apr 2025CA$40.8bCA$19.1bCA$684.7m18.2x59.5x2.1x
Wed, 12 Mar 2025CA$43.6bCA$19.5bCA$662.5m19.3x65.8x2.2x
Fri, 07 Feb 2025CA$41.9bCA$19.6b-CA$102,737,874.4818.7x-408x2.1x
Sun, 05 Jan 2025CA$56.2bCA$26.4b-CA$1,777,744,882.5021.1x-31.6x2.1x
Tue, 03 Dec 2024CA$58.4bCA$26.0b-CA$1,713,918,636.7619.1x-34.1x2.3x
Thu, 31 Oct 2024CA$56.1bCA$25.9bCA$2.0b13.6x28.3x2.2x
Sat, 28 Sep 2024CA$58.1bCA$25.5bCA$2.0b13.6x29.6x2.3x
Mon, 26 Aug 2024CA$51.3bCA$25.5bCA$2.0b11.9x26.3x2x
Wed, 24 Jul 2024CA$51.8bCA$25.3bCA$2.8b7.8x18.5x2x
Fri, 21 Jun 2024CA$53.0bCA$25.2bCA$2.8b8x19x2.1x
Sun, 19 May 2024CA$54.3bCA$25.1bCA$2.8b7.9x19.6x2.2x
Tue, 16 Apr 2024CA$44.0bCA$25.1bCA$894.1m11.5x49.2x1.7x
Thu, 14 Mar 2024CA$46.8bCA$24.8bCA$872.6m26.2x53.7x1.9x
Sat, 10 Feb 2024CA$47.3bCA$24.8bCA$1.1b15.4x41.7x1.9x
Mon, 08 Jan 2024CA$55.2bCA$24.7bCA$3.4b16.1x16x2.2x
Wed, 06 Dec 2023CA$53.7bCA$24.9bCA$3.5b14.8x15.5x2.2x
Fri, 03 Nov 2023CA$48.1bCA$24.7bCA$2.0b14.7x24.5x1.9x
Sun, 01 Oct 2023CA$49.1bCA$24.1bCA$1.7b18.2x28.7x2x
Tue, 29 Aug 2023CA$57.4bCA$24.2bCA$1.7b17.3x33.6x2.4x
Thu, 27 Jul 2023CA$60.9bCA$23.7bCA$2.8b24.7x22x2.6x
Sat, 24 Jun 2023CA$59.8bCA$23.7bCA$2.8b23.8x21.6x2.5x
Price to Earnings Ratio

21.6x


Total Market Cap: CA$59.8bTotal Earnings: CA$2.8bTotal Revenue: CA$23.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Renewable Energy Industry Price to Earnings3Y Average -32.1x202420252026
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 Market2.59%
Utilities0.41%
Renewable Energy-1.80%
Independent Power Producers and Energy Traders5.63%
Renewable Energy-4.47%
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 6.6% 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$18.948.9%
    +CA$458.6m    		22.7%PS2.5x
    		CPX Capital PowerCA$72.694.2%
    +CA$456.9m    		29.5%PE494.6x
    		NPI Northland PowerCA$22.731.3%
    +CA$75.8m    		4.5%PS2.3x
    		MXG Maxim PowerCA$4.402.3%
    +CA$6.4m    		-3.1%PE21.1x
    		BLX BoralexCA$36.850.1%
    +CA$5.1m    		13.1%PS4.2x

    Latest News

    NPI
    CA$22.73
    Northland Power
    7D
    1.3%
    1Y
    4.5%
    NUE
    CA$0.16
    NU E Power
    7D
    6.7%
    1Y
    33.3%
    TA
    CA$18.94
    TransAlta
    7D
    8.9%
    1Y
    22.7%
    PIF
    CA$14.75
    Polaris Renewable Energy
    7D
    -0.2%
    1Y
    22.9%
    CPX
    CA$72.69
    Capital Power
    7D
    4.2%
    1Y
    29.5%
    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
    0.1%
    1Y
    13.1%
    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$7.55
    Bitzero Holdings
    7D
    -18.0%
    1Y
    n/a
    REVV
    CA$0.19
    ReVolve Renewable Power
    7D
    5.6%
    1Y
    -22.4%
    MXG
    CA$4.40
    Maxim Power
    7D
    2.3%
    1Y
    -3.1%
    RE
    CA$0.36
    RE Royalties
    7D
    -6.4%
    1Y
    -23.2%
    WEB
    CA$1.12
    Westbridge Renewable Energy
    7D
    4.7%
    1Y
    -61.6%
    NKW.H
    CA$0.06
    Oceanic Wind Energy
    7D
    -20.0%
    1Y
    9.1%