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Canadian (TSX) Renewable Energy Industry Analysis

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies13
  • 7D3.2%
  • 3M21.6%
  • 1Y35.6%
  • YTD17.8%

In the last week, the Renewable Energy industry is up 3.2%, with TransAlta up 2.4%. In the last 12 months, the industry was up 36%. As for the next few years, earnings are forecast to decline by 17% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Fri, 12 May 2023CA$64.3bCA$24.0bCA$2.8b20.2x23.1x2.7x
Sun, 09 Apr 2023CA$64.3bCA$22.6bCA$2.7b44.9x24x2.8x
Price to Earnings Ratio

24x


Total Market Cap: CA$64.3bTotal Earnings: CA$2.7bTotal Revenue: CA$22.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Renewable Energy Industry Price to Earnings3Y Average -12.5x202420252026
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 3.1x.
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 6.5% per year, which is driving profits down.

Industry Trends

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

CA Market1.56%
Utilities1.91%
Renewable Energy3.25%
Renewable Energy3.99%
Independent Power Producers and Energy Traders1.37%
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 45% 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
    		TA TransAltaCA$18.502.4%
    +CA$139.7m    		34.9%PS2.3x
    		CPX Capital PowerCA$66.350.8%
    +CA$86.0m    		34.1%PE64.9x
    		NPI Northland PowerCA$23.370.9%
    +CA$54.9m    		18.5%PS2.5x
    		MXG Maxim PowerCA$4.400.9%
    +CA$2.7m    		3.0%PE17.6x
    		PIF Polaris Renewable EnergyCA$12.500.8%
    +CA$2.1m    		6.4%PS2.3x

    Latest News

    CPX
    CA$66.35
    Capital Power
    7D
    0.8%
    1Y
    34.1%
    TA
    CA$18.50
    TransAlta
    7D
    2.4%
    1Y
    34.9%
    NPI
    CA$23.37
    Northland Power
    7D
    0.9%
    1Y
    18.5%
    SOLR
    CA$0.015
    Solar Alliance Energy
    7D
    50.0%
    1Y
    0%
    NUE
    CA$0.12
    NU E Power
    7D
    4.3%
    1Y
    -57.1%
    PIF
    CA$12.50
    Polaris Renewable Energy
    7D
    0.8%
    1Y
    6.4%
    CBLU
    CA$0.055
    Clear Blue Technologies International
    7D
    -31.3%
    1Y
    -54.2%
    MXG
    CA$4.40
    Maxim Power
    7D
    0.9%
    1Y
    3.0%
    BLX
    CA$36.58
    Boralex
    7D
    -0.1%
    1Y
    28.8%

    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
    -20.5%
    WEB
    CA$1.65
    Westbridge Renewable Energy
    7D
    -2.9%
    1Y
    -41.9%
    BITZ.U
    US$2.31
    Bitzero Holdings
    7D
    -2.5%
    1Y
    n/a