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Canadian (TSX) Renewable Energy Industry Analysis

UpdatedDec 16, 2025
DataAggregated Company Financials
Companies13
  • 7D-1.9%
  • 3M1.8%
  • 1Y3.6%
  • YTD3.5%

Over the last 7 days, the Renewable Energy industry has dropped 1.5%, driven by Capital Power declining 3.1%. This takes the industry's 12 month performance to a gain of 4.1%. Earnings are forecast to grow by 83% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 16 Dec 2025CA$48.0bCA$17.9b-CA$623,709,972.303.3x-76.9x2.7x
Thu, 13 Nov 2025CA$52.7bCA$17.9b-CA$380,829,508.9113.1x-138.3x2.9x
Sat, 11 Oct 2025CA$52.8bCA$17.6b-CA$394,009,386.607.1x-134.1x3x
Mon, 08 Sep 2025CA$46.1bCA$17.5b-CA$387,499,393.198.2x-118.9x2.6x
Wed, 06 Aug 2025CA$47.1bCA$17.5b-CA$54,691,784.0920.7x-860.8x2.7x
Fri, 04 Jul 2025CA$48.7bCA$18.6bCA$309.8m19.7x157.1x2.6x
Sun, 01 Jun 2025CA$46.1bCA$18.7bCA$302.9m18.9x152.2x2.5x
Tue, 29 Apr 2025CA$42.7bCA$19.1bCA$687.5m18.7x62.2x2.2x
Thu, 27 Mar 2025CA$44.9bCA$19.4bCA$647.7m19.6x69.3x2.3x
Sat, 22 Feb 2025CA$43.7bCA$19.6bCA$62.6m22x697.4x2.2x
Mon, 20 Jan 2025CA$39.0bCA$19.5bCA$59.2m20.2x659.5x2x
Wed, 18 Dec 2024CA$56.4bCA$26.2b-CA$1,756,040,780.6922.1x-32.1x2.1x
Fri, 15 Nov 2024CA$56.3bCA$26.0b-CA$1,701,716,329.0514.8x-33.1x2.2x
Sun, 13 Oct 2024CA$55.4bCA$25.7bCA$2.0b12.9x28.1x2.2x
Tue, 10 Sep 2024CA$50.5bCA$25.5bCA$2.0b11.8x25.7x2x
Thu, 08 Aug 2024CA$51.9bCA$25.7bCA$1.7b9.1x29.9x2x
Sat, 06 Jul 2024CA$52.6bCA$25.2bCA$2.8b7.8x18.9x2.1x
Mon, 03 Jun 2024CA$55.0bCA$25.2bCA$2.8b8.1x19.8x2.2x
Wed, 01 May 2024CA$44.4bCA$25.1bCA$894.4m11.3x49.6x1.8x
Fri, 29 Mar 2024CA$46.7bCA$24.9bCA$897.8m13.1x52x1.9x
Sun, 25 Feb 2024CA$46.8bCA$25.0bCA$512.3m28.6x91.4x1.9x
Tue, 23 Jan 2024CA$54.5bCA$24.8bCA$3.5b16.3x15.8x2.2x
Thu, 21 Dec 2023CA$55.5bCA$24.7bCA$3.4b15.7x16.1x2.2x
Sat, 18 Nov 2023CA$53.5bCA$25.0bCA$3.5b26.6x15.3x2.1x
Mon, 16 Oct 2023CA$48.2bCA$24.2bCA$1.7b17.4x28.1x2x
Wed, 13 Sep 2023CA$54.8bCA$24.1bCA$1.7b19.8x32.1x2.3x
Fri, 11 Aug 2023CA$57.1bCA$24.1bCA$1.9b16.7x29.6x2.4x
Sun, 09 Jul 2023CA$59.5bCA$23.8bCA$2.8b23.6x21.4x2.5x
Tue, 06 Jun 2023CA$64.9bCA$24.0bCA$2.8b20x23.3x2.7x
Thu, 04 May 2023CA$63.6bCA$23.4bCA$2.9b20.2x22x2.7x
Sat, 01 Apr 2023CA$65.4bCA$22.6bCA$2.7b44.9x24.4x2.9x
Mon, 27 Feb 2023CA$57.8bCA$22.4bCA$2.6b39.4x21.9x2.6x
Wed, 25 Jan 2023CA$62.6bCA$21.6bCA$1.6b27.2x39.5x2.9x
Fri, 23 Dec 2022CA$58.8bCA$21.8bCA$1.6b25.5x36.8x2.7x
Price to Earnings Ratio

36.8x


Total Market Cap: CA$58.8bTotal Earnings: CA$1.6bTotal Revenue: CA$21.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Renewable Energy Industry Price to Earnings3Y Average 24.7x202320242025
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 2.7x.
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 Market1.11%
Utilities0.047%
Renewable Energy-1.90%
Renewable Energy-1.52%
Independent Power Producers and Energy Traders-2.68%
Industry PE
  • Investors are most optimistic about the Independent Power Producers and Energy Traders industry which is trading above its 3-year average PE ratio of 23.7x.
    • Analysts are expecting annual earnings growth of 51.1%, which is higher than its past year's earnings decline of 46.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 98% over the next 5 years.
  • This is better than its past earnings decline of 51% per year.
  • In contrast, the Independent Power Producers and Energy Traders industry is expected to see its earnings grow by 51% 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
BLX BoralexCA$25.154.7%
+CA$117.1m		-14.9%PS3.1x
NPI Northland PowerCA$17.380.9%
+CA$41.8m		-5.4%PS2x
RE RE RoyaltiesCA$0.2712.5%
+CA$1.3m		-40.7%PB8.2x
NKW.H Oceanic Wind EnergyCA$0.05510.0%
+CA$436.6k		57.1%PE2.3x
REVV ReVolve Renewable PowerCA$0.182.9%
+CA$419.2k		-30.8%PS2.8x

Latest News

NPI
CA$17.38
Northland Power
7D
0.9%
1Y
-5.4%
PIF
CA$11.67
Polaris Renewable Energy
7D
-1.0%
1Y
-10.3%
TA
CA$18.87
TransAlta
7D
-6.8%
1Y
-8.2%
MXG
CA$4.41
Maxim Power
7D
-1.3%
1Y
-13.2%
BLX
CA$25.15
Boralex
7D
4.7%
1Y
-14.9%

BLX: Québec Wind Expansion Will Drive Long Term Power Segment Momentum

Analysts have nudged their consolidated price target for Boralex slightly lower to about C$36.40 from roughly C$36.90, balancing a recent C$2 cut to C$36 with a C$1 increase to C$39 as they factor in softer power-generation trends, muted realized pricing, and only modest adjustments to long term growth and valuation assumptions. Analyst Commentary Street research on Boralex reflects a mixed but generally constructive stance, with some trimming of expectations but continued confidence in the company’s long term growth profile and relative valuation upside within the power space.
RESO
CA$0.18
ReSolve Energie
7D
-5.3%
1Y
n/a
CPX
CA$61.99
Capital Power
7D
-5.4%
1Y
-2.1%

CPX: Future Performance Will Reflect Long Term Contracted Cash Flow Upside

Analysts have lifted their consolidated price target for Capital Power to about C$80, reflecting increased confidence in the company’s underappreciated growth profile, resilient margins, and U.S.-like expansion prospects. Analyst Commentary Recent Street research points to a broadly constructive view on Capital Power, with multiple firms raising their price targets and reiterating positive ratings in quick succession.
GCA.X
CA$0.07
Gencan Capital
7D
-6.7%
1Y
n/a
REVV
CA$0.18
ReVolve Renewable Power
7D
2.9%
1Y
-30.8%
RE
CA$0.27
RE Royalties
7D
12.5%
1Y
-40.7%
WEB
CA$2.16
Westbridge Renewable Energy
7D
0.5%
1Y
-34.9%
NKW.H
CA$0.055
Oceanic Wind Energy
7D
10.0%
1Y
57.1%