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Canadian (TSX) Renewable Energy Industry Analysis

UpdatedJun 08, 2026
DataAggregated Company Financials
Companies12
  • 7D-1.8%
  • 3M17.8%
  • 1Y31.9%
  • YTD25.7%

Over the last 7 days, the Renewable Energy industry has dropped 1.8%, driven by a pullback from TransAlta of 9.9%. Meanwhile, Bitzero Holdings actually outperformed within the industry, gaining 40% in the last week. Over the past 12 months, the industry was up 32%. Looking forward, earnings are forecast to grow by 7.9% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 08 Jun 2026CA$61.7bCA$18.6b-CA$364,761,438.08251.1x-169x3.3x
Wed, 06 May 2026CA$56.4bCA$18.4b-CA$327,593,712.16492.7x-172x3.1x
Fri, 03 Apr 2026CA$58.0bCA$18.5b-CA$144,673,026.83240.6x-401x3.1x
Sun, 01 Mar 2026CA$53.0bCA$18.0b-CA$19,838,564.8512.7x-2673.5x2.9x
Tue, 27 Jan 2026CA$48.1bCA$17.9b-CA$622,585,606.3214.6x-77.2x2.7x
Thu, 25 Dec 2025CA$46.9bCA$17.8b-CA$620,045,702.243.3x-75.6x2.6x
Sat, 22 Nov 2025CA$49.0bCA$18.1b-CA$618,559,531.9113.9x-79.2x2.7x
Mon, 20 Oct 2025CA$54.5bCA$17.6b-CA$394,521,847.727.3x-138.2x3.1x
Wed, 17 Sep 2025CA$47.7bCA$17.5b-CA$383,095,701.848.4x-124.4x2.7x
Fri, 15 Aug 2025CA$46.5bCA$17.5b-CA$385,840,756.208.9x-120.6x2.7x
Sun, 13 Jul 2025CA$49.2bCA$18.7bCA$304.9m19.8x161.2x2.6x
Tue, 10 Jun 2025CA$46.7bCA$18.7bCA$304.9m19.2x153.3x2.5x
Thu, 08 May 2025CA$43.4bCA$18.9bCA$307.6m15.7x141.2x2.3x
Sat, 05 Apr 2025CA$42.7bCA$19.3bCA$671.6m18.2x63.6x2.2x
Mon, 03 Mar 2025CA$44.3bCA$19.5bCA$553.4m19.5x80.1x2.3x
Wed, 29 Jan 2025CA$35.4bCA$19.5bCA$61.6m19.4x574.8x1.8x
Fri, 27 Dec 2024CA$56.2bCA$26.4b-CA$1,772,266,490.0720.7x-31.7x2.1x
Sun, 24 Nov 2024CA$56.5bCA$25.9b-CA$1,694,726,605.4815.4x-33.3x2.2x
Tue, 22 Oct 2024CA$59.6bCA$25.8bCA$2.0b14.3x30.1x2.3x
Thu, 19 Sep 2024CA$55.2bCA$25.6bCA$2.0b12.7x28.1x2.2x
Sat, 17 Aug 2024CA$52.6bCA$25.6bCA$2.0b11.7x26.7x2.1x
Mon, 15 Jul 2024CA$55.3bCA$25.2bCA$2.8b8.5x19.9x2.2x
Wed, 12 Jun 2024CA$55.5bCA$25.3bCA$2.8b8.5x19.9x2.2x
Fri, 10 May 2024CA$52.4bCA$25.1bCA$2.8b7.7x19x2.1x
Sun, 07 Apr 2024CA$45.7bCA$24.9bCA$898.0m11.8x50.8x1.8x
Tue, 05 Mar 2024CA$46.3bCA$24.9bCA$870.3m26.8x53.2x1.9x
Thu, 01 Feb 2024CA$54.6bCA$24.7bCA$3.5b16.5x15.8x2.2x
Sat, 30 Dec 2023CA$54.6bCA$24.6bCA$3.4b16x16x2.2x
Mon, 27 Nov 2023CA$52.3bCA$24.9bCA$3.5b15.3x15.1x2.1x
Wed, 25 Oct 2023CA$48.5bCA$24.2bCA$1.7b16.9x28.3x2x
Fri, 22 Sep 2023CA$54.2bCA$24.1bCA$1.7b19.5x31.8x2.3x
Sun, 20 Aug 2023CA$56.5bCA$24.1bCA$1.7b16.3x33.1x2.3x
Tue, 18 Jul 2023CA$61.1bCA$23.7bCA$2.8b24.3x22.1x2.6x
Thu, 15 Jun 2023CA$61.3bCA$23.9bCA$2.8b24.8x22x2.6x
Price to Earnings Ratio

22x


Total Market Cap: CA$61.3bTotal Earnings: CA$2.8bTotal Revenue: CA$23.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Renewable Energy Industry Price to Earnings3Y Average -30.5x202420252026
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 8.0% per year, which is driving profits down.

Industry Trends

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

CA Market-0.64%
Utilities1.41%
Renewable Energy-1.78%
Renewable Energy-0.38%
Independent Power Producers and Energy Traders-5.46%
Industry PE
    Forecasted Growth
    • Analysts are most optimistic on the Independent Power Producers and Energy Traders industry, expecting annual earnings growth of 50% 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 7.4% 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
    		BITZ.U Bitzero HoldingsUS$8.0339.7%
    +US$125.7m    		n/aPS16.6x
    		NUE NU E PowerCA$0.1720.7%
    +CA$2.0m    		29.6%PE-1.4x
    		NKW.H Oceanic Wind EnergyCA$0.0740.0%
    +CA$1.7m    		7.7%PB8.8x
    		AKH.H Alaska HydroCA$0.0320.0%
    +CA$191.8k    		50.0%PE-14.7x
    		RESO ReSolve EnergieCA$0.143.7%
    +CA$182.8k    		n/aPS92.4x

    Latest News

    CPX
    CA$69.74
    Capital Power
    7D
    -3.2%
    1Y
    25.3%
    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$36.84
    Boralex
    7D
    -0.3%
    1Y
    15.8%
    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.
    NPI
    CA$22.78
    Northland Power
    7D
    -2.7%
    1Y
    8.8%
    TA
    CA$17.69
    TransAlta
    7D
    -9.9%
    1Y
    24.2%
    Narrative Update • Jun 05

    TA: Colorado Peaking Deal And Keephills Data Centres Will Drive Long Term Upside

    Analysts have maintained their CA$28.00 price target for TransAlta, pointing to updated assumptions that now pair a slightly lower discount rate with higher revenue growth and profit margin estimates, along with a lower future P/E multiple. What's in the News TransAlta agreed to acquire the Mountain Peak and Canyon Peak natural gas peaking plants near Denver, Colorado for about US$1 billion, adding 318 MW of fully contracted capacity and an estimated US$80 million in annual Adjusted EBITDA, according to recent news reports.
    BITZ.U
    US$8.03
    Bitzero Holdings
    7D
    39.7%
    1Y
    n/a
    PIF
    CA$13.08
    Polaris Renewable Energy
    7D
    -0.08%
    1Y
    10.7%
    MXG
    CA$4.27
    Maxim Power
    7D
    -2.7%
    1Y
    -4.0%
    RE
    CA$0.39
    RE Royalties
    7D
    -1.3%
    1Y
    -15.2%
    WEB
    CA$1.19
    Westbridge Renewable Energy
    7D
    -13.1%
    1Y
    -58.7%
    NUE
    CA$0.17
    NU E Power
    7D
    20.7%
    1Y
    29.6%
    RESO
    CA$0.14
    ReSolve Energie
    7D
    3.7%
    1Y
    n/a
    NKW.H
    CA$0.07
    Oceanic Wind Energy
    7D
    40.0%
    1Y
    7.7%
    AKH.H
    CA$0.03
    Alaska Hydro
    7D
    20.0%
    1Y
    50.0%