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Canadian (TSX) Renewable Energy Industry Analysis

UpdatedJun 22, 2026
DataAggregated Company Financials
Companies13
  • 7D1.6%
  • 3M13.2%
  • 1Y32.3%
  • YTD26.0%

The Renewable Energy industry is up 3.0% in the last week, with Capital Power up 3.8%. This means that the industry has gained 32% over the past year. 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
Mon, 22 Jun 2026CA$61.8bCA$18.7b-CA$367,457,919.64265.7x-168.3x3.3x
Wed, 20 May 2026CA$58.2bCA$18.4b-CA$368,224,045.50227.7x-158.1x3.2x
Fri, 17 Apr 2026CA$60.1bCA$18.3b-CA$145,748,936.21248.8x-412.1x3.3x
Sun, 15 Mar 2026CA$52.2bCA$18.3b-CA$118,715,950.7360.4x-439.8x2.8x
Tue, 10 Feb 2026CA$50.1bCA$17.9b-CA$150,755,670.8911.8x-332.6x2.8x
Thu, 08 Jan 2026CA$47.8bCA$17.9b-CA$626,868,565.553.3x-76.3x2.7x
Sat, 06 Dec 2025CA$49.1bCA$17.9b-CA$625,849,664.5014.2x-78.5x2.7x
Mon, 03 Nov 2025CA$56.9bCA$17.8b-CA$428,149,249.793.9x-133x3.2x
Wed, 01 Oct 2025CA$49.4bCA$17.6b-CA$390,248,443.116.8x-126.6x2.8x
Fri, 29 Aug 2025CA$46.4bCA$17.5b-CA$383,287,518.048.8x-121x2.7x
Sun, 27 Jul 2025CA$49.3bCA$17.6bCA$264.2m17.8x186.7x2.8x
Tue, 24 Jun 2025CA$48.4bCA$18.7bCA$302.5m19.5x159.9x2.6x
Thu, 22 May 2025CA$46.5bCA$18.8bCA$294.6m19.6x158x2.5x
Sat, 19 Apr 2025CA$40.1bCA$19.1bCA$686.5m18.1x58.4x2.1x
Mon, 17 Mar 2025CA$43.6bCA$19.4bCA$664.4m18.6x65.7x2.2x
Wed, 12 Feb 2025CA$41.7bCA$19.6b-CA$101,911,986.1517.5x-409.2x2.1x
Fri, 10 Jan 2025CA$40.0bCA$19.5bCA$61.8m22.8x646.1x2.1x
Sun, 08 Dec 2024CA$57.3bCA$26.1b-CA$1,729,986,190.7720.6x-33.1x2.2x
Tue, 05 Nov 2024CA$55.8bCA$25.8bCA$1.9b14x29.5x2.2x
Thu, 03 Oct 2024CA$58.3bCA$25.4bCA$2.0b13.6x29.8x2.3x
Sat, 31 Aug 2024CA$51.7bCA$25.4bCA$2.0b12x26.5x2x
Mon, 29 Jul 2024CA$51.6bCA$25.4bCA$2.8b7.7x18.4x2x
Wed, 26 Jun 2024CA$52.7bCA$25.2bCA$2.8b8x18.9x2.1x
Fri, 24 May 2024CA$55.4bCA$25.3bCA$2.8b7.8x19.9x2.2x
Sun, 21 Apr 2024CA$43.5bCA$25.1bCA$894.8m11.9x48.6x1.7x
Tue, 19 Mar 2024CA$45.2bCA$24.9bCA$897.9m12.9x50.4x1.8x
Thu, 15 Feb 2024CA$46.9bCA$24.9bCA$1.1b15.9x41.4x1.9x
Sat, 13 Jan 2024CA$54.5bCA$24.7bCA$3.4b16.4x15.8x2.2x
Mon, 11 Dec 2023CA$53.4bCA$24.9bCA$3.5b15.1x15.4x2.1x
Wed, 08 Nov 2023CA$50.8bCA$25.0bCA$3.2b14.3x15.7x2x
Fri, 06 Oct 2023CA$48.7bCA$24.3bCA$1.7b17.5x28.4x2x
Sun, 03 Sep 2023CA$56.0bCA$24.2bCA$1.7b19.4x32.7x2.3x
Tue, 01 Aug 2023CA$59.7bCA$23.7bCA$2.8b24.9x21.6x2.5x
Thu, 29 Jun 2023CA$59.5bCA$23.8bCA$2.8b23.7x21.5x2.5x
Price to Earnings Ratio

21.5x


Total Market Cap: CA$59.5bTotal Earnings: CA$2.8bTotal Revenue: CA$23.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Renewable Energy Industry Price to Earnings3Y Average -32.9x202420252026
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 7.7% per year, which is driving profits down.

Industry Trends

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

CA Market-1.03%
Utilities-0.60%
Renewable Energy1.59%
Renewable Energy1.78%
Independent Power Producers and Energy Traders1.10%
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 7.1% 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$73.533.8%
    +CA$422.5m    		30.4%PE500.3x
    		AIBZ.U Bitzero HoldingsUS$8.8058.6%
    +US$179.2m    		n/aPS18.2x
    		TA TransAltaCA$19.524.1%
    +CA$226.3m    		29.1%PS2.6x
    		NPI Northland PowerCA$22.700.1%
    +CA$7.8m    		4.3%PS2.3x
    		WEB Westbridge Renewable EnergyCA$1.137.6%
    +CA$2.1m    		-55.2%PB0.8x

    Latest News

    TA
    CA$19.52
    TransAlta
    7D
    4.1%
    1Y
    29.1%
    Analysis Article • Jun 18

    TransAlta (TSX:TA) Stock Could Be 17.2% Undervalued After Centralia Mandate

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    AIBZ.U
    US$8.80
    Bitzero Holdings
    7D
    58.6%
    1Y
    n/a
    Analysis Article • Jun 18

    Bitzero Holdings (CNSX:AIBZ.U) Stock Looks Rich After Norway Data Center Lease And Nasdaq Debut

    Bitzero Holdings (CNSX:AIBZ.U) is drawing fresh attention after updating investors on construction progress at its 110 MW Norway data center campus, alongside a new 15 year lease agreement with OneQode Networks. See our latest analysis for Bitzero Holdings. Bitzero Holdings has seen sharp momentum build, with a 1 day share price return of 13.91% and a 90 day share price return of 273.91% as Nasdaq listing, board changes, and data center progress attract fresh attention. The latest share price...
    NPI
    CA$22.70
    Northland Power
    7D
    0.1%
    1Y
    4.3%
    RESO
    CA$0.12
    ReSolve Energie
    7D
    -4.2%
    1Y
    n/a
    NUE
    CA$0.16
    NU E Power
    7D
    -5.9%
    1Y
    33.3%
    PIF
    CA$14.90
    Polaris Renewable Energy
    7D
    0.3%
    1Y
    23.9%
    CPX
    CA$73.53
    Capital Power
    7D
    3.8%
    1Y
    30.4%
    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$36.57
    Boralex
    7D
    -0.8%
    1Y
    13.0%
    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.
    MXG
    CA$4.26
    Maxim Power
    7D
    -3.2%
    1Y
    -5.1%
    RE
    CA$0.38
    RE Royalties
    7D
    4.1%
    1Y
    -20.0%
    WEB
    CA$1.13
    Westbridge Renewable Energy
    7D
    7.6%
    1Y
    -55.2%
    NKW.H
    CA$0.07
    Oceanic Wind Energy
    7D
    7.7%
    1Y
    27.3%