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Canadian (TSX) Renewable Energy Industry Analysis

UpdatedJun 26, 2026
DataAggregated Company Financials
Companies13
  • 7D0.2%
  • 3M10.7%
  • 1Y32.7%
  • YTD26.8%

In the last week, the Renewable Energy industry is flat overall, with Northland Power standing out by going down 3.2%. As for the the longer term, the industry is up 33% over the past 12 months. Earnings are forecast to grow by 10% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 26 Jun 2026CA$62.3bCA$18.7b-CA$368,344,099.08269.8x-169.3x3.3x
Sun, 24 May 2026CA$60.2bCA$18.5b-CA$368,093,216.86237.1x-163.4x3.3x
Tue, 21 Apr 2026CA$58.4bCA$18.3b-CA$146,047,957.94248x-399.6x3.2x
Thu, 19 Mar 2026CA$53.8bCA$18.3b-CA$118,733,539.1662.8x-453.2x2.9x
Sat, 14 Feb 2026CA$50.8bCA$17.9b-CA$150,946,010.9511.8x-336.3x2.8x
Mon, 12 Jan 2026CA$46.8bCA$18.0b-CA$629,076,184.483.3x-74.4x2.6x
Wed, 10 Dec 2025CA$49.3bCA$17.9b-CA$626,740,259.4914.2x-78.6x2.7x
Fri, 07 Nov 2025CA$56.5bCA$18.0b-CA$372,063,313.4918x-151.8x3.1x
Sun, 05 Oct 2025CA$51.2bCA$17.6b-CA$391,916,113.207x-130.6x2.9x
Tue, 02 Sep 2025CA$46.4bCA$17.4b-CA$382,387,810.638.8x-121.3x2.7x
Thu, 31 Jul 2025CA$49.0bCA$17.7bCA$257.9m17.6x190x2.8x
Sat, 28 Jun 2025CA$48.6bCA$18.7bCA$304.1m19.2x159.6x2.6x
Mon, 26 May 2025CA$45.4bCA$18.7bCA$301.2m19.4x150.7x2.4x
Wed, 23 Apr 2025CA$39.9bCA$19.1bCA$687.3m18.2x58x2.1x
Fri, 21 Mar 2025CA$44.6bCA$19.4bCA$666.2m19.4x67x2.3x
Sun, 16 Feb 2025CA$41.6bCA$19.5b-CA$96,535,108.4218.5x-431.1x2.1x
Tue, 14 Jan 2025CA$39.3bCA$19.5bCA$61.5m20.3x639.6x2x
Thu, 12 Dec 2024CA$55.8bCA$26.1b-CA$1,732,032,531.4719.8x-32.2x2.1x
Sat, 09 Nov 2024CA$56.8bCA$25.4bCA$1.5b15.6x38.2x2.2x
Mon, 07 Oct 2024CA$57.5bCA$25.5bCA$2.0b13.4x29.3x2.3x
Wed, 04 Sep 2024CA$51.1bCA$25.5bCA$2.0b11.7x26x2x
Fri, 02 Aug 2024CA$51.7bCA$25.3bCA$2.8b7.5x18.5x2x
Sun, 30 Jun 2024CA$51.3bCA$25.2bCA$2.8b7.7x18.4x2x
Tue, 28 May 2024CA$55.5bCA$25.2bCA$2.8b8x20x2.2x
Thu, 25 Apr 2024CA$44.8bCA$25.1bCA$895.7m11.6x50x1.8x
Sat, 23 Mar 2024CA$46.7bCA$25.0bCA$896.4m12.9x52x1.9x
Mon, 19 Feb 2024CA$47.6bCA$24.9bCA$1.1b16x42x1.9x
Wed, 17 Jan 2024CA$55.5bCA$24.8bCA$3.5b16.7x16x2.2x
Fri, 15 Dec 2023CA$54.5bCA$24.7bCA$3.4b16x15.8x2.2x
Sun, 12 Nov 2023CA$49.4bCA$25.1bCA$3.5b27.7x14x2x
Tue, 10 Oct 2023CA$48.7bCA$24.2bCA$1.7b17.4x28.4x2x
Thu, 07 Sep 2023CA$53.4bCA$24.2bCA$1.7b19.1x31.2x2.2x
Sat, 05 Aug 2023CA$56.8bCA$24.1bCA$1.9b16.6x30.2x2.4x
Mon, 03 Jul 2023CA$60.2bCA$23.8bCA$2.8b23.9x21.7x2.5x
Price to Earnings Ratio

21.7x


Total Market Cap: CA$60.2bTotal Earnings: CA$2.8bTotal Revenue: CA$23.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Renewable Energy Industry Price to Earnings3Y Average -33.6x202420252026
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 3.3x.
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-0.90%
Utilities2.02%
Renewable Energy0.22%
Independent Power Producers and Energy Traders1.99%
Renewable Energy-0.47%
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 7.4% 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
    		CPX Capital PowerCA$74.762.7%
    +CA$303.6m    		33.0%PE508.6x
    		TA TransAltaCA$19.590.8%
    +CA$47.6m    		34.2%PS2.6x
    		BLX BoralexCA$36.920.2%
    +CA$6.2m    		16.5%PS4.2x
    		RE RE RoyaltiesCA$0.3712.1%
    +CA$1.7m    		-17.8%PE-1.7x
    		NKW.H Oceanic Wind EnergyCA$0.0727.3%
    +CA$1.3m    		0%PB8.8x

    Latest News

    CBLU
    CA$0.04
    Clear Blue Technologies International
    7D
    0%
    1Y
    -55.6%
    CPX
    CA$74.76
    Capital Power
    7D
    2.7%
    1Y
    33.0%
    Narrative Update • Jun 25

    CPX: Fair Value Outlook Will Depend On Margins And Secured Cash Flows

    Analysts have made a modest upward revision to the Capital Power fair value estimate. The model implies an increase of about CA$0.23 per share, reflecting updated assumptions on the discount rate and forward P/E, while revenue growth and profit margin expectations remain essentially unchanged.
    RESO
    CA$0.13
    ReSolve Energie
    7D
    8.7%
    1Y
    n/a
    TA
    CA$19.59
    TransAlta
    7D
    0.8%
    1Y
    34.2%
    Narrative Update • Jun 23

    TA: Colorado Peaking Acquisition Will Support Long Term Upside

    Analysts kept their CA$28.00 price target for TransAlta unchanged. They pointed to revised assumptions that include a slightly higher discount rate, an adjusted revenue growth outlook, a modestly lower profit margin, and a marginally reduced future P/E multiple.
    BLX
    CA$36.92
    Boralex
    7D
    0.2%
    1Y
    16.5%
    Narrative Update • Jun 22

    BLX: Take Private Deal Progress And Neutral Ratings Will Shape Returns

    The analyst price target for Boralex has shifted modestly to CA$37.25 from CA$38, as analysts factor in the progress toward a potential take private transaction with Brookfield Renewables and adjust their assumptions for discount rates and valuation multiples. Analyst Commentary Recent research on Boralex reflects a more balanced stance, as the stock approaches a potential take private transaction with Brookfield Renewables and analysts revisit their assumptions for discount rates and valuation multiples.
    AIBZ.U
    US$8.75
    Bitzero Holdings
    7D
    -2.8%
    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$22.11
    Northland Power
    7D
    -3.2%
    1Y
    1.9%
    REVV
    CA$0.18
    ReVolve Renewable Power
    7D
    -2.6%
    1Y
    -9.8%
    MXG
    CA$4.31
    Maxim Power
    7D
    -1.1%
    1Y
    -3.1%
    RE
    CA$0.37
    RE Royalties
    7D
    12.1%
    1Y
    -17.8%
    NKW.H
    CA$0.07
    Oceanic Wind Energy
    7D
    27.3%
    1Y
    0%