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Canadian (TSX) Renewable Energy Industry Analysis

UpdatedApr 09, 2026
DataAggregated Company Financials
Companies13
  • 7D2.7%
  • 3M24.6%
  • 1Y47.0%
  • YTD21.0%

The Renewable Energy industry is up 2.7% in the last week, with Capital Power up 2.8%. This takes the industry's 12 month performance to a gain of 47%. In the next few years, earnings are forecast to decline by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 10 Apr 2026CA$58.1bCA$18.4b-CA$145,073,037.98245.8x-400.5x3.2x
Sun, 08 Mar 2026CA$51.9bCA$18.3b-CA$119,428,231.0459.4x-434.4x2.8x
Tue, 03 Feb 2026CA$49.2bCA$18.0b-CA$151,122,755.2912.9x-325.3x2.7x
Thu, 01 Jan 2026CA$46.2bCA$17.9b-CA$622,019,351.313.5x-74.2x2.6x
Sat, 29 Nov 2025CA$49.1bCA$18.0b-CA$613,255,503.4112.7x-80x2.7x
Mon, 27 Oct 2025CA$55.5bCA$17.6b-CA$398,780,567.5212.6x-139.3x3.2x
Wed, 24 Sep 2025CA$48.4bCA$17.5b-CA$387,008,646.527.8x-125.2x2.8x
Fri, 22 Aug 2025CA$46.5bCA$17.6b-CA$389,810,158.468.3x-119.2x2.6x
Sun, 20 Jul 2025CA$51.8bCA$18.7bCA$302.9m18.9x171.1x2.8x
Tue, 17 Jun 2025CA$49.2bCA$18.6bCA$310.0m20.2x158.7x2.6x
Thu, 15 May 2025CA$46.0bCA$18.9bCA$314.0m19.6x146.4x2.4x
Sat, 12 Apr 2025CA$40.5bCA$19.1bCA$684.7m18.2x59.2x2.1x
Mon, 10 Mar 2025CA$43.6bCA$19.4bCA$664.1m19.2x65.7x2.2x
Wed, 05 Feb 2025CA$40.8bCA$19.6b-CA$103,258,047.2318.3x-395.2x2.1x
Fri, 03 Jan 2025CA$55.5bCA$26.3b-CA$1,770,397,391.4721.1x-31.3x2.1x
Sun, 01 Dec 2024CA$58.4bCA$25.9b-CA$1,706,923,199.5419.1x-34.2x2.3x
Tue, 29 Oct 2024CA$58.9bCA$25.8bCA$2.0b13.6x29.7x2.3x
Thu, 26 Sep 2024CA$56.8bCA$25.4bCA$2.0b13.4x29x2.2x
Sat, 24 Aug 2024CA$50.2bCA$25.5bCA$2.0b11.9x25.7x2x
Mon, 22 Jul 2024CA$50.7bCA$25.3bCA$2.8b7.6x18.2x2x
Wed, 19 Jun 2024CA$52.4bCA$25.2bCA$2.8b8.1x18.8x2.1x
Fri, 17 May 2024CA$54.3bCA$25.1bCA$2.8b7.9x19.6x2.2x
Sun, 14 Apr 2024CA$44.9bCA$25.1bCA$894.2m11.7x50.2x1.8x
Tue, 12 Mar 2024CA$48.2bCA$24.8bCA$872.4m27.3x55.2x1.9x
Thu, 08 Feb 2024CA$49.1bCA$24.9bCA$1.1b16x43.2x2x
Sat, 06 Jan 2024CA$54.6bCA$24.7bCA$3.4b16.1x15.9x2.2x
Mon, 04 Dec 2023CA$54.1bCA$24.8bCA$3.5b15.2x15.7x2.2x
Wed, 01 Nov 2023CA$46.8bCA$24.4bCA$1.7b16.7x27.2x1.9x
Fri, 29 Sep 2023CA$50.0bCA$24.1bCA$1.7b18.4x29.3x2.1x
Sun, 27 Aug 2023CA$57.4bCA$24.2bCA$1.7b17.3x33.6x2.4x
Tue, 25 Jul 2023CA$61.2bCA$23.7bCA$2.8b25.1x22.2x2.6x
Thu, 22 Jun 2023CA$60.7bCA$23.7bCA$2.8b24.7x22x2.6x
Sat, 20 May 2023CA$65.0bCA$24.0bCA$2.8b20.4x23.3x2.7x
Mon, 17 Apr 2023CA$64.6bCA$22.4bCA$2.7b45.1x24.2x2.9x
Price to Earnings Ratio

24.2x


Total Market Cap: CA$64.6bTotal Earnings: CA$2.7bTotal Revenue: CA$22.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Renewable Energy Industry Price to Earnings3Y Average -15.6x202420252026
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 3.2x.
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 6.4% per year, which is driving profits down.

Industry Trends

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

CA Market1.91%
Utilities1.73%
Renewable Energy2.68%
Independent Power Producers and Energy Traders2.96%
Renewable Energy2.57%
Industry PE
    Forecasted Growth
    • Analysts are most optimistic on the Independent Power Producers and Energy Traders industry, expecting annual earnings growth of 57% over the next 5 years.
    • This is better than its past earnings decline of 51% per year.
    • In contrast, the Renewable Energy industry is expected to see its earnings decline by 44% 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$67.942.4%
    +CA$253.4m    		51.4%PE66.4x
    		TA TransAltaCA$19.132.0%
    +CA$110.0m    		60.6%PS2.4x
    		BITZ.U Bitzero HoldingsUS$2.5711.3%
    +US$14.0m    		n/aPS5x
    		BLX BoralexCA$36.660.2%
    +CA$6.2m    		29.2%PE538.1x
    		RE RE RoyaltiesCA$0.427.7%
    +CA$1.3m    		-1.2%PB12.7x

    Latest News

    TA
    CA$19.13
    TransAlta
    7D
    2.0%
    1Y
    60.6%
    CPX
    CA$67.94
    Capital Power
    7D
    2.4%
    1Y
    51.4%
    NUE
    CA$0.14
    NU E Power
    7D
    8.0%
    1Y
    -50.0%
    MXG
    CA$4.31
    Maxim Power
    7D
    -2.0%
    1Y
    6.2%
    BLX
    CA$36.66
    Boralex
    7D
    0.2%
    1Y
    29.2%

    BLX: Battery Storage Scale And Possible Take Private May Support Steady Returns

    Analysts have trimmed their price target for Boralex from CA$36 to CA$35, citing updated assumptions around discount rates and valuation multiples, while keeping core growth and margin expectations broadly consistent. Analyst Commentary Recent research indicates that the slight reduction in the price target to CA$35 is driven more by updated assumptions around discount rates and valuation multiples than by changes to the underlying business outlook.
    REVV
    CA$0.17
    ReVolve Renewable Power
    7D
    -2.8%
    1Y
    -23.9%
    WEB
    CA$1.59
    Westbridge Renewable Energy
    7D
    -4.8%
    1Y
    -32.6%
    RESO
    CA$0.18
    ReSolve Energie
    7D
    -10.0%
    1Y
    n/a
    BITZ.U
    US$2.57
    Bitzero Holdings
    7D
    11.3%
    1Y
    n/a
    NKW.H
    CA$0.055
    Oceanic Wind Energy
    7D
    22.2%
    1Y
    22.2%
    RE
    CA$0.42
    RE Royalties
    7D
    7.7%
    1Y
    -1.2%