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Canadian (TSX) Renewable Energy Industry Analysis

UpdatedJan 30, 2026
DataAggregated Company Financials
Companies13
  • 7D0.7%
  • 3M-15.1%
  • 1Y18.4%
  • YTD0.7%

The Renewable Energy is pretty flat in the last 7 days, but Capital Power has stood out, gaining 5.8%. As for the the longer term, the industry is up 18% over the past 12 months. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 30 Jan 2026CA$49.3bCA$17.7b-CA$614,185,189.9615.7x-80.3x2.8x
Sun, 28 Dec 2025CA$46.9bCA$17.8b-CA$619,902,301.363.3x-75.6x2.6x
Tue, 25 Nov 2025CA$48.7bCA$18.1b-CA$619,273,864.1413.9x-78.6x2.7x
Thu, 23 Oct 2025CA$54.3bCA$17.6b-CA$393,318,866.957.1x-138x3.1x
Sat, 20 Sep 2025CA$48.3bCA$17.5b-CA$384,741,657.488x-125.5x2.8x
Mon, 18 Aug 2025CA$46.3bCA$17.5b-CA$385,910,242.458.9x-119.9x2.6x
Wed, 16 Jul 2025CA$49.7bCA$18.7bCA$303.1m20.2x164.1x2.7x
Fri, 13 Jun 2025CA$48.6bCA$18.6bCA$308.7m19.2x157.4x2.6x
Sun, 11 May 2025CA$44.7bCA$19.0bCA$325.1m17.9x137.6x2.4x
Tue, 08 Apr 2025CA$39.9bCA$19.4bCA$671.1m18x59.4x2.1x
Thu, 06 Mar 2025CA$43.2bCA$19.4bCA$665.2m18.9x65x2.2x
Sat, 01 Feb 2025CA$35.7bCA$20.6b-CA$113,264,528.4718.8x-315x1.7x
Mon, 30 Dec 2024CA$55.9bCA$26.4b-CA$1,772,927,119.7421.1x-31.6x2.1x
Wed, 27 Nov 2024CA$57.8bCA$26.0b-CA$1,706,485,287.9015.6x-33.9x2.2x
Fri, 25 Oct 2024CA$59.6bCA$25.8bCA$2.0b13.8x30.1x2.3x
Sun, 22 Sep 2024CA$55.6bCA$25.5bCA$2.0b12.8x28.3x2.2x
Tue, 20 Aug 2024CA$51.8bCA$25.6bCA$2.0b11.7x26.3x2x
Thu, 18 Jul 2024CA$53.8bCA$25.2bCA$2.8b8x19.3x2.1x
Sat, 15 Jun 2024CA$53.7bCA$25.3bCA$2.8b8.2x19.2x2.1x
Mon, 13 May 2024CA$53.6bCA$25.1bCA$2.8b7.8x19.5x2.1x
Wed, 10 Apr 2024CA$46.2bCA$24.9bCA$898.3m11.8x51.4x1.9x
Fri, 08 Mar 2024CA$48.6bCA$24.8bCA$872.9m27.5x55.7x2x
Sun, 04 Feb 2024CA$53.5bCA$26.5bCA$1.2b29.4x43.6x2x
Tue, 02 Jan 2024CA$54.8bCA$24.6bCA$3.4b16x16x2.2x
Thu, 30 Nov 2023CA$52.6bCA$24.9bCA$3.5b14.6x15.2x2.1x
Sat, 28 Oct 2023CA$47.4bCA$24.4bCA$1.7b16.2x27.5x1.9x
Mon, 25 Sep 2023CA$54.7bCA$24.0bCA$1.7b19.6x32.1x2.3x
Wed, 23 Aug 2023CA$55.9bCA$24.1bCA$1.7b16.2x32.7x2.3x
Fri, 21 Jul 2023CA$60.8bCA$23.7bCA$2.8b24.6x22x2.6x
Sun, 18 Jun 2023CA$60.2bCA$23.7bCA$2.8b24.8x21.8x2.5x
Tue, 16 May 2023CA$65.8bCA$24.0bCA$2.8b20.4x23.6x2.7x
Thu, 13 Apr 2023CA$64.8bCA$22.5bCA$2.7b45.6x24.2x2.9x
Sat, 11 Mar 2023CA$59.6bCA$22.9bCA$2.7b42x21.8x2.6x
Mon, 06 Feb 2023CA$60.1bCA$21.8bCA$2.6b25.5x23.5x2.8x
Price to Earnings Ratio

23.5x


Total Market Cap: CA$60.1bTotal Earnings: CA$2.6bTotal Revenue: CA$21.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Renewable Energy Industry Price to Earnings3Y Average 20x202420252026
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 2.8x.
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 6.7% per year, which is driving profits down.

Industry Trends

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

CA Market-0.049%
Utilities0.51%
Renewable Energy0.68%
Independent Power Producers and Energy Traders5.86%
Renewable Energy-1.54%
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 25.3x.
    • Analysts are expecting annual earnings growth of 51.4%, which is higher than its past year's earnings decline of 46.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Independent Power Producers and Energy Traders industry, expecting annual earnings growth of 51% over the next 5 years.
  • This is better than its past earnings decline of 46% per year.
  • In contrast, the Renewable Energy industry is expected to see its earnings decline by 2.2% 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$61.535.8%
+CA$528.5m		13.7%PE25x
TA TransAltaCA$18.306.3%
+CA$323.4m		9.4%PS2.2x
RESO ReSolve EnergieCA$0.2110.5%
+CA$731.0k		n/aPE15.7x
PIF Polaris Renewable EnergyCA$12.340.08%
+CA$209.0k		-4.0%PS2.4x
AKH.H Alaska HydroCA$0.0320.0%
+CA$191.8k		50.0%PE-10.4x

Latest News

GCA.X
CA$0.10
Gencan Capital
7D
5.3%
1Y
400.0%
NPI
CA$18.64
Northland Power
7D
-2.3%
1Y
11.8%
WEB
CA$1.91
Westbridge Renewable Energy
7D
-6.4%
1Y
-40.3%
TA
CA$18.30
TransAlta
7D
6.3%
1Y
9.4%
BLX
CA$25.00
Boralex
7D
-2.8%
1Y
-0.2%
CPX
CA$61.53
Capital Power
7D
5.8%
1Y
13.7%

CPX: Future Returns Will Reflect Long Term Contracted U.S. Gas Cash Flows

Analysts have nudged their fair value estimate for Capital Power higher to about C$74.71 from roughly C$74.46, citing a series of recent price target increases across the Street that reflect updated views on revenue growth, margins, and future P/E assumptions. Analyst Commentary Recent research updates around Capital Power cluster tightly in a C$73 to C$82 fair value range, which helps explain the modest move higher in the aggregated fair value estimate.
PIF
CA$12.34
Polaris Renewable Energy
7D
0.08%
1Y
-4.0%
NUE
CA$0.22
NU E Power
7D
-15.4%
1Y
-59.3%
RE
CA$0.30
RE Royalties
7D
-6.3%
1Y
-36.8%
SOLR
CA$0.015
Solar Alliance Energy
7D
-25.0%
1Y
-40.0%
MXG
CA$4.38
Maxim Power
7D
-2.0%
1Y
-27.0%
RESO
CA$0.21
ReSolve Energie
7D
10.5%
1Y
n/a
AKH.H
CA$0.03
Alaska Hydro
7D
20.0%
1Y
50.0%