Executive Summary
Boralex Inc., together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities primarily in Canada, France, the United Kingdom, and the United States. More Details
Rewards
Risk Analysis
Snowflake Analysis
Acceptable track record with moderate growth potential.
Similar Companies
Share Price & News
How has Boralex's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BLX is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: BLX's weekly volatility (6%) has been stable over the past year.
Market Performance
7 Day Return
-8.4%
BLX
-5.4%
CA Renewable Energy
2.3%
CA Market
1 Year Return
21.4%
BLX
25.4%
CA Renewable Energy
36.9%
CA Market
Return vs Industry: BLX underperformed the Canadian Renewable Energy industry which returned 25.4% over the past year.
Return vs Market: BLX underperformed the Canadian Market which returned 36.9% over the past year.
Shareholder returns
| BLX | Industry | Market | |
|---|---|---|---|
| 7 Day | -8.4% | -5.4% | 2.3% |
| 30 Day | -15.0% | -14.5% | 2.1% |
| 90 Day | -28.4% | -25.0% | 7.5% |
| 1 Year | 23.8%21.4% | 29.8%25.4% | 41.4%36.9% |
| 3 Year | 71.9%58.4% | 102.0%75.9% | 30.2%17.7% |
| 5 Year | 135.4%104.8% | 136.9%86.6% | 60.3%36.3% |
Long-Term Price Volatility Vs. Market
How volatile is Boralex's share price compared to the market and industry in the last 5 years?
Simply Wall St News
6 days ago | Simply Wall St
Here's What Boralex Inc.'s (TSE:BLX) Shareholder Ownership Structure Looks Like3 weeks ago | Simply Wall St
We Like These Underlying Return On Capital Trends At Boralex (TSE:BLX)1 month ago | Simply Wall St
Estimating The Fair Value Of Boralex Inc. (TSE:BLX)Valuation
Is Boralex undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: BLX (CA$36.09) is trading below our estimate of fair value (CA$73.28)
Significantly Below Fair Value: BLX is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: BLX is poor value based on its PE Ratio (75.5x) compared to the CA Renewable Energy industry average (13.1x).
PE vs Market: BLX is poor value based on its PE Ratio (75.5x) compared to the Canadian market (15.9x).
Price to Earnings Growth Ratio
PEG Ratio: BLX is poor value based on its PEG Ratio (2.7x)
Price to Book Ratio
PB vs Industry: BLX is overvalued based on its PB Ratio (3.5x) compared to the CA Renewable Energy industry average (2.1x).
Future Growth
How is Boralex forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?
28.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BLX's forecast earnings growth (28% per year) is above the savings rate (1.5%).
Earnings vs Market: BLX's earnings (28% per year) are forecast to grow faster than the Canadian market (16.5% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: BLX's revenue (6.6% per year) is forecast to grow slower than the Canadian market (6.8% per year).
High Growth Revenue: BLX's revenue (6.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: BLX's Return on Equity is forecast to be low in 3 years time (6.6%).
Past Performance
How has Boralex performed over the past 5 years?
7.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BLX has high quality earnings.
Growing Profit Margin: BLX became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: BLX has become profitable over the past 5 years, growing earnings by 7.2% per year.
Accelerating Growth: BLX has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: BLX has become profitable in the last year, making it difficult to compare its past year earnings growth to the Renewable Energy industry (0.09%).
Return on Equity
High ROE: BLX's Return on Equity (4.3%) is considered low.
Financial Health
How is Boralex's financial position?
Financial Position Analysis
Short Term Liabilities: BLX's short term assets (CA$448.0M) exceed its short term liabilities (CA$385.0M).
Long Term Liabilities: BLX's short term assets (CA$448.0M) do not cover its long term liabilities (CA$4.2B).
Debt to Equity History and Analysis
Debt Level: BLX's debt to equity ratio (282.6%) is considered high.
Reducing Debt: BLX's debt to equity ratio has reduced from 299.1% to 282.6% over the past 5 years.
Debt Coverage: BLX's debt is not well covered by operating cash flow (9.9%).
Interest Coverage: BLX's interest payments on its debt are not well covered by EBIT (1.4x coverage).
Balance Sheet
Dividend
What is Boralex current dividend yield, its reliability and sustainability?
1.83%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: BLX's dividend (1.83%) is higher than the bottom 25% of dividend payers in the Canadian market (1.51%).
High Dividend: BLX's dividend (1.83%) is low compared to the top 25% of dividend payers in the Canadian market (4.54%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, BLX has been paying a dividend for less than 10 years.
Growing Dividend: BLX's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (138.1%), BLX's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: BLX's dividends in 3 years are forecast to be covered by earnings (51.5% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.3yrs
Average management tenure
CEO
Patrick Decostre (47 yo)
0.42
Tenure
CA$1,133,750
Compensation
Mr. Patrick Decostre serves as the President, Chief Executive Officer and Director of Boralex Inc. since December 1, 2020. He served as Chief Operating Officer of Boralex Inc. since July 2019 until Novembe...
CEO Compensation Analysis
Compensation vs Market: Patrick's total compensation ($USD933.63K) is below average for companies of similar size in the Canadian market ($USD3.13M).
Compensation vs Earnings: Patrick's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: BLX's management team is considered experienced (2.3 years average tenure).
Board Members
Experienced Board: BLX's board of directors are considered experienced (3.5 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: BLX insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6.4%.
Top Shareholders
Company Information
Boralex Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Boralex Inc.
- Ticker: BLX
- Exchange: TSX
- Founded: 1982
- Industry: Renewable Electricity
- Sector: Utilities
- Market Cap: CA$3.704b
- Shares outstanding: 102.62m
- Website: https://www.boralex.com
Number of Employees
Location
- Boralex Inc.
- 36 Lajeunesse Street
- Kingsey Falls
- Quebec
- J0A 1B0
- Canada
Listings
Biography
Boralex Inc., together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities primarily in Canada, France, the United Kingdom, and the United St...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/05/09 23:36 |
| End of Day Share Price | 2021/05/07 00:00 |
| Earnings | 2021/03/31 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.