BORALEX INC -A (BLX.CA) Stock Fundamental Analysis
Canada • Toronto Stock Exchange • TSX:BLX • CA09950M3003
26.78 CAD
-0.1 (-0.37%)
Last: Feb 10, 2026, 07:00 PM
BLX gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 32 industry peers in the Independent Power and Renewable Electricity Producers industry. While BLX is still in line with the averages on profitability rating, there are concerns on its financial health. BLX is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
- BLX had positive earnings in the past year.
- BLX had a positive operating cash flow in the past year.
- In the past 5 years BLX has always been profitable.
- In the past 5 years BLX always reported a positive cash flow from operatings.
1.2 Ratios
- BLX's Return On Assets of -0.30% is fine compared to the rest of the industry. BLX outperforms 68.75% of its industry peers.
- BLX has a better Return On Equity (-1.51%) than 78.13% of its industry peers.
- BLX's Return On Invested Capital of 1.83% is on the low side compared to the rest of the industry. BLX is outperformed by 65.63% of its industry peers.
- BLX had an Average Return On Invested Capital over the past 3 years of 2.63%. This is in line with the industry average of 3.78%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.3% | ||
| ROE | -1.51% | ||
| ROIC | 1.83% |
ROA(3y)0.71%
ROA(5y)0.69%
ROE(3y)2.94%
ROE(5y)3.22%
ROIC(3y)2.63%
ROIC(5y)2.59%
1.3 Margins
- In the last couple of years the Profit Margin of BLX has grown nicely.
- Looking at the Operating Margin, with a value of 22.10%, BLX is in the better half of the industry, outperforming 71.88% of the companies in the same industry.
- In the last couple of years the Operating Margin of BLX has remained more or less at the same level.
- BLX has a Gross Margin of 75.60%. This is in the better half of the industry: BLX outperforms 62.50% of its industry peers.
- In the last couple of years the Gross Margin of BLX has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 22.1% | ||
| PM (TTM) | N/A | ||
| GM | 75.6% |
OM growth 3Y0.2%
OM growth 5Y1.4%
PM growth 3Y19.71%
PM growth 5YN/A
GM growth 3Y-0.46%
GM growth 5Y-0.28%
2. Health
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so BLX is destroying value.
- Compared to 1 year ago, BLX has about the same amount of shares outstanding.
- BLX has more shares outstanding than it did 5 years ago.
- Compared to 1 year ago, BLX has a worse debt to assets ratio.
2.2 Solvency
- Based on the Altman-Z score of 0.50, we must say that BLX is in the distress zone and has some risk of bankruptcy.
- BLX has a better Altman-Z score (0.50) than 78.13% of its industry peers.
- BLX has a Debt/Equity ratio of 2.86. This is a high value indicating a heavy dependency on external financing.
- The Debt to Equity ratio of BLX (2.86) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.86 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.5 |
ROIC/WACC0.39
WACC4.69%
2.3 Liquidity
- A Current Ratio of 1.26 indicates that BLX should not have too much problems paying its short term obligations.
- The Current ratio of BLX (1.26) is better than 81.25% of its industry peers.
- A Quick Ratio of 1.26 indicates that BLX should not have too much problems paying its short term obligations.
- The Quick ratio of BLX (1.26) is better than 84.38% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.26 | ||
| Quick Ratio | 1.26 |
3. Growth
3.1 Past
- BLX shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -87.21%.
- The Earnings Per Share has been growing by 58.74% on average over the past years. This is a very strong growth
- The Revenue for BLX has decreased by -11.91% in the past year. This is quite bad
- BLX shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.24% yearly.
EPS 1Y (TTM)-87.21%
EPS 3Y58.74%
EPS 5YN/A
EPS Q2Q%-100%
Revenue 1Y (TTM)-11.91%
Revenue growth 3Y7.27%
Revenue growth 5Y8.24%
Sales Q2Q%4.67%
3.2 Future
- The Earnings Per Share is expected to grow by 23.29% on average over the next years. This is a very strong growth
- BLX is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 15.56% yearly.
EPS Next Y-14.97%
EPS Next 2Y34.2%
EPS Next 3Y25.53%
EPS Next 5Y23.29%
Revenue Next Year3.76%
Revenue Next 2Y9.5%
Revenue Next 3Y6.57%
Revenue Next 5Y15.56%
3.3 Evolution
- Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
- Based on the Price/Earnings ratio of 243.45, the valuation of BLX can be described as expensive.
- 65.63% of the companies in the same industry are more expensive than BLX, based on the Price/Earnings ratio.
- The average S&P500 Price/Earnings ratio is at 28.03. BLX is valued rather expensively when compared to this.
- BLX is valuated rather expensively with a Price/Forward Earnings ratio of 21.87.
- BLX's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. BLX is cheaper than 71.88% of the companies in the same industry.
- When comparing the Price/Forward Earnings ratio of BLX to the average of the S&P500 Index (27.97), we can say BLX is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 243.45 | ||
| Fwd PE | 21.87 |
4.2 Price Multiples
- BLX's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. BLX is more expensive than 62.50% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 15.04 |
4.3 Compensation for Growth
- BLX has a very decent profitability rating, which may justify a higher PE ratio.
- BLX's earnings are expected to grow with 25.53% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y34.2%
EPS Next 3Y25.53%
5. Dividend
5.1 Amount
- BLX has a Yearly Dividend Yield of 2.54%. Purely for dividend investing, there may be better candidates out there.
- Compared to an average industry Dividend Yield of 4.76, BLX's dividend is way lower than its industry peers. On top of this 81.25% of the companies listed in the same industry pay a better dividend than BLX!
- BLX's Dividend Yield is a higher than the S&P500 average which is at 1.80.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.54% |
5.2 History
- The dividend of BLX has a limited annual growth rate of 0.48%.
- BLX has paid a dividend for at least 10 years, which is a reliable track record.
- BLX has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)0.48%
Div Incr Years0
Div Non Decr Years10
5.3 Sustainability
- The earnings of BLX are negative and hence is the payout ratio. BLX will probably not be able to sustain this dividend level.
- The dividend of BLX is growing, but earnings are growing more, so the dividend growth is sustainable.
DP-295.65%
EPS Next 2Y34.2%
EPS Next 3Y25.53%
TSX:BLX (2/10/2026, 7:00:00 PM)
26.78
-0.1 (-0.37%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Earnings (Last)11-07 2025-11-07/bmo
Earnings (Next)02-27 2026-02-27/amc
Inst Owners62.18%
Inst Owner ChangeN/A
Ins Owners0.07%
Ins Owner ChangeN/A
Market Cap2.75B
Revenue(TTM)828.00M
Net Income(TTM)-23.00M
Analysts78.33
Price Target35.59 (32.9%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.54% |
Yearly Dividend0.66
Dividend Growth(5Y)0.48%
DP-295.65%
Div Incr Years0
Div Non Decr Years10
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-120.18%
Min EPS beat(2)-210.01%
Max EPS beat(2)-30.34%
EPS beat(4)0
Avg EPS beat(4)-84.6%
Min EPS beat(4)-210.01%
Max EPS beat(4)-30.34%
EPS beat(8)2
Avg EPS beat(8)-39.17%
EPS beat(12)4
Avg EPS beat(12)-20.96%
EPS beat(16)6
Avg EPS beat(16)-24.58%
Revenue beat(2)0
Avg Revenue beat(2)-10.68%
Min Revenue beat(2)-14.18%
Max Revenue beat(2)-7.18%
Revenue beat(4)0
Avg Revenue beat(4)-13.03%
Min Revenue beat(4)-16.5%
Max Revenue beat(4)-7.18%
Revenue beat(8)2
Avg Revenue beat(8)-5%
Revenue beat(12)5
Avg Revenue beat(12)1.37%
Revenue beat(16)6
Avg Revenue beat(16)-1.36%
PT rev (1m)-3.38%
PT rev (3m)-8.19%
EPS NQ rev (1m)-9.55%
EPS NQ rev (3m)-12.72%
EPS NY rev (1m)0%
EPS NY rev (3m)-16.42%
Revenue NQ rev (1m)-9.06%
Revenue NQ rev (3m)-9.89%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.65%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 243.45 | ||
| Fwd PE | 21.87 | ||
| P/S | 3.32 | ||
| P/FCF | N/A | ||
| P/OCF | 7.93 | ||
| P/B | 1.8 | ||
| P/tB | 8.63 | ||
| EV/EBITDA | 15.04 |
EPS(TTM)0.11
EY0.41%
EPS(NY)1.22
Fwd EY4.57%
FCF(TTM)-3.77
FCFYN/A
OCF(TTM)3.38
OCFY12.61%
SpS8.06
BVpS14.86
TBVpS3.1
PEG (NY)N/A
PEG (5Y)N/A
Graham Number6.06
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.3% | ||
| ROE | -1.51% | ||
| ROCE | 2.58% | ||
| ROIC | 1.83% | ||
| ROICexc | 1.83% | ||
| ROICexgc | 2.2% | ||
| OM | 22.1% | ||
| PM (TTM) | N/A | ||
| GM | 75.6% | ||
| FCFM | N/A |
ROA(3y)0.71%
ROA(5y)0.69%
ROE(3y)2.94%
ROE(5y)3.22%
ROIC(3y)2.63%
ROIC(5y)2.59%
ROICexc(3y)2.85%
ROICexc(5y)2.78%
ROICexgc(3y)3.67%
ROICexgc(5y)3.66%
ROCE(3y)3.71%
ROCE(5y)3.65%
ROICexgc growth 3Y-1.44%
ROICexgc growth 5Y1.01%
ROICexc growth 3Y1.57%
ROICexc growth 5Y1.49%
OM growth 3Y0.2%
OM growth 5Y1.4%
PM growth 3Y19.71%
PM growth 5YN/A
GM growth 3Y-0.46%
GM growth 5Y-0.28%
F-Score4
Asset Turnover0.11
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.86 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 8.89 | ||
| Cap/Depr | 238.31% | ||
| Cap/Sales | 88.65% | ||
| Interest Coverage | 1.24 | ||
| Cash Conversion | 70.67% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.26 | ||
| Quick Ratio | 1.26 | ||
| Altman-Z | 0.5 |
F-Score4
WACC4.69%
ROIC/WACC0.39
Cap/Depr(3y)110.38%
Cap/Depr(5y)89.71%
Cap/Sales(3y)36.6%
Cap/Sales(5y)31.38%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-87.21%
EPS 3Y58.74%
EPS 5YN/A
EPS Q2Q%-100%
EPS Next Y-14.97%
EPS Next 2Y34.2%
EPS Next 3Y25.53%
EPS Next 5Y23.29%
Revenue 1Y (TTM)-11.91%
Revenue growth 3Y7.27%
Revenue growth 5Y8.24%
Sales Q2Q%4.67%
Revenue Next Year3.76%
Revenue Next 2Y9.5%
Revenue Next 3Y6.57%
Revenue Next 5Y15.56%
EBIT growth 1Y-31.46%
EBIT growth 3Y7.49%
EBIT growth 5Y9.76%
EBIT Next Year133.02%
EBIT Next 3Y40.28%
EBIT Next 5Y25.84%
FCF growth 1Y-224.84%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-39.97%
OCF growth 3Y-14.58%
OCF growth 5Y-6.07%
BORALEX INC -A / BLX.CA FAQ
What is the ChartMill fundamental rating of BORALEX INC -A (BLX.CA) stock?
ChartMill assigns a fundamental rating of 5 / 10 to BLX.CA.
What is the valuation status of BORALEX INC -A (BLX.CA) stock?
ChartMill assigns a valuation rating of 3 / 10 to BORALEX INC -A (BLX.CA). This can be considered as Overvalued.
Can you provide the profitability details for BORALEX INC -A?
BORALEX INC -A (BLX.CA) has a profitability rating of 6 / 10.
Can you provide the expected EPS growth for BLX stock?
The Earnings per Share (EPS) of BORALEX INC -A (BLX.CA) is expected to decline by -14.97% in the next year.
How sustainable is the dividend of BORALEX INC -A (BLX.CA) stock?
The dividend rating of BORALEX INC -A (BLX.CA) is 5 / 10 and the dividend payout ratio is -295.65%.