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

Canadian (TSX) Renewable Energy Industry Analysis

UpdatedJun 07, 2026
DataAggregated Company Financials
Companies12
  • 7D-1.3%
  • 3M19.8%
  • 1Y36.9%
  • YTD25.7%

Over the last 7 days, the Renewable Energy industry has dropped 1.4%, driven by a pullback from TransAlta of 10.0%. Meanwhile, Bitzero Holdings actually outperformed within the industry, gaining 50% in the last week. In the past year, the industry has gained 37%. Looking forward, earnings are forecast to grow by 8.2% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 07 Jun 2026CA$61.7bCA$18.6b-CA$364,761,438.08251.1x-169x3.3x
Tue, 05 May 2026CA$56.7bCA$18.5b-CA$281,681,746.72416.5x-201.2x3.1x
Thu, 02 Apr 2026CA$57.4bCA$18.4b-CA$144,841,875.76238.8x-396.3x3.1x
Sat, 28 Feb 2026CA$53.1bCA$18.0b-CA$19,838,564.8512.7x-2677.2x2.9x
Mon, 26 Jan 2026CA$48.1bCA$17.8b-CA$620,943,844.6514.2x-77.4x2.7x
Wed, 24 Dec 2025CA$46.6bCA$17.8b-CA$620,777,801.513.2x-75x2.6x
Fri, 21 Nov 2025CA$49.7bCA$18.1b-CA$618,918,587.7915x-80.4x2.8x
Sun, 19 Oct 2025CA$54.5bCA$17.6b-CA$394,521,847.727.3x-138.2x3.1x
Tue, 16 Sep 2025CA$47.0bCA$17.5b-CA$383,981,651.587.6x-122.5x2.7x
Thu, 14 Aug 2025CA$46.4bCA$17.5b-CA$75,000,310.7714.5x-618.8x2.7x
Sat, 12 Jul 2025CA$49.2bCA$18.7bCA$305.9m19.8x160.8x2.6x
Mon, 09 Jun 2025CA$46.7bCA$18.7bCA$304.3m19.2x153.6x2.5x
Wed, 07 May 2025CA$43.6bCA$19.1bCA$486.5m15.6x89.6x2.3x
Fri, 04 Apr 2025CA$43.9bCA$19.3bCA$677.2m19.2x64.8x2.3x
Sun, 02 Mar 2025CA$44.3bCA$19.5bCA$551.3m22.4x80.4x2.3x
Tue, 28 Jan 2025CA$38.2bCA$19.5bCA$62.4m20.3x612.1x2x
Thu, 26 Dec 2024CA$56.2bCA$26.3b-CA$1,763,936,110.9720.8x-31.9x2.1x
Sat, 23 Nov 2024CA$57.4bCA$25.9b-CA$1,694,726,605.4815.4x-33.9x2.2x
Mon, 21 Oct 2024CA$59.6bCA$25.8bCA$2.0b13.9x30.2x2.3x
Wed, 18 Sep 2024CA$55.2bCA$25.5bCA$2.0b12.8x28.1x2.2x
Fri, 16 Aug 2024CA$52.0bCA$25.7bCA$2.0b11.8x26.4x2x
Sun, 14 Jul 2024CA$55.3bCA$25.2bCA$2.8b8.5x19.9x2.2x
Tue, 11 Jun 2024CA$55.5bCA$25.3bCA$2.8b8.5x19.9x2.2x
Thu, 09 May 2024CA$51.6bCA$25.1bCA$2.8b7.7x18.5x2.1x
Sat, 06 Apr 2024CA$46.2bCA$24.9bCA$898.0m11.8x51.4x1.9x
Mon, 04 Mar 2024CA$47.0bCA$25.1bCA$809.7m27.1x58x1.9x
Wed, 31 Jan 2024CA$54.9bCA$24.7bCA$3.4b16.6x15.9x2.2x
Fri, 29 Dec 2023CA$54.7bCA$24.5bCA$3.4b16.1x16x2.2x
Sun, 26 Nov 2023CA$52.3bCA$24.9bCA$3.5b15.3x15.1x2.1x
Tue, 24 Oct 2023CA$48.5bCA$24.2bCA$1.7b16.9x28.3x2x
Thu, 21 Sep 2023CA$55.5bCA$24.0bCA$1.7b19.9x32.6x2.3x
Sat, 19 Aug 2023CA$55.8bCA$24.1bCA$1.7b16.3x32.7x2.3x
Mon, 17 Jul 2023CA$61.1bCA$23.8bCA$2.8b24.4x22.1x2.6x
Wed, 14 Jun 2023CA$61.7bCA$23.8bCA$2.8b25.2x22.2x2.6x
Price to Earnings Ratio

22.2x


Total Market Cap: CA$61.7bTotal Earnings: CA$2.8bTotal Revenue: CA$23.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Renewable Energy Industry Price to Earnings3Y Average -30.3x202420252026
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-0.95%
Utilities0.93%
Renewable Energy-1.27%
Renewable Energy-0.15%
Independent Power Producers and Energy Traders-4.23%
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 7.3% 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
    		BITZ.U Bitzero HoldingsUS$8.0350.1%
    +US$147.8m    		n/aPS16.6x
    		PIF Polaris Renewable EnergyCA$13.080.7%
    +CA$1.9m    		10.8%PE27.8x
    		NUE NU E PowerCA$0.1716.7%
    +CA$1.6m    		45.8%PE-1.4x
    		NKW.H Oceanic Wind EnergyCA$0.0716.7%
    +CA$873.3k    		40.0%PB8.8x
    		REVV ReVolve Renewable PowerCA$0.182.9%
    +CA$419.2k    		-28.0%PS4x

    Latest News

    BLX
    CA$36.84
    Boralex
    7D
    -0.08%
    1Y
    15.7%
    NPI
    CA$22.78
    Northland Power
    7D
    -3.1%
    1Y
    9.8%
    TA
    CA$17.69
    TransAlta
    7D
    -10.0%
    1Y
    24.8%
    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
    50.1%
    1Y
    n/a
    REVV
    CA$0.18
    ReVolve Renewable Power
    7D
    2.9%
    1Y
    -28.0%
    PIF
    CA$13.08
    Polaris Renewable Energy
    7D
    0.7%
    1Y
    10.8%
    MXG
    CA$4.27
    Maxim Power
    7D
    -0.9%
    1Y
    -3.6%
    RE
    CA$0.39
    RE Royalties
    7D
    -1.3%
    1Y
    -18.8%
    CPX
    CA$69.74
    Capital Power
    7D
    -1.3%
    1Y
    24.5%
    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$1.19
    Westbridge Renewable Energy
    7D
    -15.0%
    1Y
    -58.7%
    NUE
    CA$0.17
    NU E Power
    7D
    16.7%
    1Y
    45.8%
    RESO
    CA$0.14
    ReSolve Energie
    7D
    3.7%
    1Y
    n/a
    NKW.H
    CA$0.07
    Oceanic Wind Energy
    7D
    16.7%
    1Y
    40.0%
    AKH.H
    CA$0.03
    Alaska Hydro
    7D
    20.0%
    1Y
    50.0%