Boralex Inc.

TSX:BLX Stock Report

Market Cap: CA$2.9b

Boralex Management

Management criteria checks 3/4

Boralex's CEO is Patrick Decostre, appointed in Dec 2020, has a tenure of 4.83 years. total yearly compensation is CA$2.06M, comprised of 32.8% salary and 67.2% bonuses, including company stock and options. directly owns 0.019% of the company’s shares, worth CA$547.48K. The average tenure of the management team and the board of directors is 3.8 years and 4.8 years respectively.

Key information

Patrick Decostre

Chief executive officer

CA$2.1m

Total compensation

CEO salary percentage32.76%
CEO tenure4.8yrs
CEO ownership0.02%
Management average tenure3.8yrs
Board average tenure4.8yrs

Recent management updates

Recent updates

Boralex (TSE:BLX) Might Be Having Difficulty Using Its Capital Effectively

Oct 04
Boralex (TSE:BLX) Might Be Having Difficulty Using Its Capital Effectively

Why Investors Shouldn't Be Surprised By Boralex Inc.'s (TSE:BLX) P/S

Sep 09
Why Investors Shouldn't Be Surprised By Boralex Inc.'s (TSE:BLX) P/S

Boralex (TSE:BLX) Will Want To Turn Around Its Return Trends

Jul 05
Boralex (TSE:BLX) Will Want To Turn Around Its Return Trends

Is Boralex (TSE:BLX) A Risky Investment?

Jun 17
Is Boralex (TSE:BLX) A Risky Investment?

We Think You Can Look Beyond Boralex's (TSE:BLX) Lackluster Earnings

May 22
We Think You Can Look Beyond Boralex's (TSE:BLX) Lackluster Earnings

Boralex's (TSE:BLX) Returns On Capital Are Heading Higher

Feb 21
Boralex's (TSE:BLX) Returns On Capital Are Heading Higher
User avatar

New Projects And Partnerships Will Expand Renewable Capacity Amid Great British Energy Support

Expansion through new projects in Quebec, Scotland, and Ontario is expected to drive future revenue growth and enhanced risk management.

Boralex Inc.'s (TSE:BLX) P/E Still Appears To Be Reasonable

Jan 27
Boralex Inc.'s (TSE:BLX) P/E Still Appears To Be Reasonable

Is Boralex (TSE:BLX) A Risky Investment?

Jan 09
Is Boralex (TSE:BLX) A Risky Investment?

We Ran A Stock Scan For Earnings Growth And Boralex (TSE:BLX) Passed With Ease

Oct 22
We Ran A Stock Scan For Earnings Growth And Boralex (TSE:BLX) Passed With Ease

Boralex Inc.'s (TSE:BLX) P/E Still Appears To Be Reasonable

Oct 04
Boralex Inc.'s (TSE:BLX) P/E Still Appears To Be Reasonable

Boralex (TSE:BLX) Is Doing The Right Things To Multiply Its Share Price

Sep 19
Boralex (TSE:BLX) Is Doing The Right Things To Multiply Its Share Price

We Think Boralex (TSE:BLX) Is Taking Some Risk With Its Debt

Sep 04
We Think Boralex (TSE:BLX) Is Taking Some Risk With Its Debt

Returns Are Gaining Momentum At Boralex (TSE:BLX)

Jun 09
Returns Are Gaining Momentum At Boralex (TSE:BLX)

Boralex Inc.'s (TSE:BLX) Popularity With Investors Is Clear

Apr 09
Boralex Inc.'s (TSE:BLX) Popularity With Investors Is Clear

Boralex (TSE:BLX) Takes On Some Risk With Its Use Of Debt

Feb 13
Boralex (TSE:BLX) Takes On Some Risk With Its Use Of Debt

Boralex (TSE:BLX) Is Experiencing Growth In Returns On Capital

Dec 02
Boralex (TSE:BLX) Is Experiencing Growth In Returns On Capital

Here's Why Boralex (TSE:BLX) Is Weighed Down By Its Debt Load

Nov 02
Here's Why Boralex (TSE:BLX) Is Weighed Down By Its Debt Load

Returns At Boralex (TSE:BLX) Appear To Be Weighed Down

Aug 17
Returns At Boralex (TSE:BLX) Appear To Be Weighed Down

Is Boralex (TSE:BLX) A Risky Investment?

Aug 01
Is Boralex (TSE:BLX) A Risky Investment?

Industry Analysts Just Upgraded Their Boralex Inc. (TSE:BLX) Revenue Forecasts By 10%

May 11
Industry Analysts Just Upgraded Their Boralex Inc. (TSE:BLX) Revenue Forecasts By 10%

Boralex (TSE:BLX) Has A Somewhat Strained Balance Sheet

May 02
Boralex (TSE:BLX) Has A Somewhat Strained Balance Sheet

Boralex's (TSE:BLX) Returns On Capital Are Heading Higher

Apr 17
Boralex's (TSE:BLX) Returns On Capital Are Heading Higher

Calculating The Fair Value Of Boralex Inc. (TSE:BLX)

Mar 20
Calculating The Fair Value Of Boralex Inc. (TSE:BLX)

Here's Why We Think Boralex (TSE:BLX) Might Deserve Your Attention Today

Feb 27
Here's Why We Think Boralex (TSE:BLX) Might Deserve Your Attention Today

Does Boralex (TSE:BLX) Have A Healthy Balance Sheet?

Jan 27
Does Boralex (TSE:BLX) Have A Healthy Balance Sheet?

Boralex (TSE:BLX) Is Experiencing Growth In Returns On Capital

Jan 14
Boralex (TSE:BLX) Is Experiencing Growth In Returns On Capital

Here's Why We Think Boralex (TSE:BLX) Might Deserve Your Attention Today

Nov 28
Here's Why We Think Boralex (TSE:BLX) Might Deserve Your Attention Today

A Look At The Fair Value Of Boralex Inc. (TSE:BLX)

Nov 08
A Look At The Fair Value Of Boralex Inc. (TSE:BLX)

CEO Compensation Analysis

How has Patrick Decostre's remuneration changed compared to Boralex's earnings?
DateTotal CompensationSalaryCompany Earnings
Jun 30 2025n/an/a

-CA$10m

Mar 31 2025n/an/a

CA$11m

Dec 31 2024CA$2mCA$674k

CA$36m

Sep 30 2024n/an/a

CA$89m

Jun 30 2024n/an/a

CA$95m

Mar 31 2024n/an/a

CA$100m

Dec 31 2023CA$2mCA$626k

CA$78m

Sep 30 2023n/an/a

CA$55m

Jun 30 2023n/an/a

CA$19m

Mar 31 2023n/an/a

CA$13m

Dec 31 2022CA$2mCA$546k

CA$30m

Sep 30 2022n/an/a

CA$33m

Jun 30 2022n/an/a

CA$57m

Mar 31 2022n/an/a

CA$31m

Dec 31 2021CA$2mCA$503k

CA$17m

Sep 30 2021n/an/a

CA$26m

Jun 30 2021n/an/a

CA$40m

Mar 31 2021n/an/a

CA$50m

Dec 31 2020CA$1mCA$382k

CA$55m

Sep 30 2020n/an/a

CA$3m

Jun 30 2020n/an/a

-CA$20m

Mar 31 2020n/an/a

-CA$27m

Dec 31 2019CA$800kCA$359k

-CA$39m

Sep 30 2019n/an/a

-CA$4m

Jun 30 2019n/an/a

-CA$6m

Mar 31 2019n/an/a

-CA$21m

Dec 31 2018CA$552kCA$269k

-CA$30m

Compensation vs Market: Patrick's total compensation ($USD1.47M) is below average for companies of similar size in the Canadian market ($USD2.15M).

Compensation vs Earnings: Patrick's compensation has increased whilst the company is unprofitable.

CEO

Patrick Decostre (52 yo)

4.8yrs
Tenure
CA$2,056,718
Compensation

Mr. Patrick Decostre serves as an Independent Director at CAE Inc. since may 16, 2024. He serves as the President, Chief Executive Officer and Director of Boralex Inc. since December 1, 2020. He served as...

Leadership Team

NamePositionTenureCompensationOwnership
Patrick Decostre
President4.8yrsCA$2.06m0.019%
CA$ 547.5k
Pascal Hurtubise
Executive VP & Chief Legal Officer8.3yrsCA$739.87k0.0083%
CA$ 237.2k
Hugues Girardin
Advisor3yrsCA$760.86k0.014%
CA$ 387.8k
Nicolas Wolff
Executive VP & GM of Europe3.8yrsCA$787.34k0.0073%
CA$ 208.2k
Stéphane Milot
CFO, EVP & Vice President of Investor Relations and Financial Planning & Analysis6.8yrsno data0.0032%
CA$ 90.4k
Isabelle Fontaine
Senior Vice President of Marketing3yrsno data0.0021%
CA$ 60.2k
Marie-Josée Arsenault
Executive VP and Chief People & Culture Officer3.8yrsno data0.0097%
CA$ 275.2k
Julie Cusson
Senior Vice President of Synergies & Special Projectsno datano datano data
Adam Rosso
Senior Vice President of Development of North Americano datano datano data
Alain Pouliot
Senior Vice President of Asset Management of North Americano datano datano data
Rabindra Mishra
Deputy Managing Director of Development Europe3yrsno datano data
Pascal Laprise-Demers
Senior Vice President of Corporate Strategy & Business Performance3yrsno data0.0023%
CA$ 66.2k
3.8yrs
Average Tenure

Experienced Management: BLX's management team is considered experienced (3.8 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Patrick Decostre
President4.8yrsCA$2.06m0.019%
CA$ 547.5k
Patrick Lemaire
Independent Director19.3yrsCA$128.78k0.032%
CA$ 926.4k
Nadia Martel
Independent Directorless than a yearno datano data
Zin Smati
Independent Director4.4yrsCA$155.00k0.0078%
CA$ 222.1k
Lise Croteau
Independent Director7.4yrsCA$164.50kno data
Dany St-Pierre
Independent Director9.4yrsCA$140.00k0.0015%
CA$ 42.5k
Ricky Fontaine
Independent Director1.2yrsCA$54.56k0.0035%
CA$ 99.2k
Marie-Claude Dumas
Independent Director6.4yrsCA$166.00k0.0042%
CA$ 119.2k
Remi Lalonde
Independent Directorless than a yearno datano data
Andre Courville
Independent Chairman of the Board6.4yrsCA$164.50k0.0080%
CA$ 227.3k
Dominique Miniere
Independent Director1.8yrsCA$145.50kno data
4.8yrs
Average Tenure
63yo
Average Age

Experienced Board: BLX's board of directors are considered experienced (4.8 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/12 14:22
End of Day Share Price 2025/10/10 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Boralex Inc. is covered by 27 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Mark WestbyATB Capital Markets
Benjamin PhamBMO Capital Markets Equity Research
Massimo FioreCantor Fitzgerald Canada Corporation