BORALEX INC -A (BLX.CA) Fundamental Analysis & Valuation

TSX:BLX • CA09950M3003

27.05 CAD
-0.03 (-0.11%)
Last: Mar 6, 2026, 07:00 PM
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This BLX.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

BLX gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 32 industry peers in the Independent Power and Renewable Electricity Producers industry. BLX has a medium profitability rating, but doesn't score so well on its financial health evaluation. While showing a medium growth rate, BLX is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

6

1. BLX.CA Profitability Analysis

1.1 Basic Checks

  • In the past year BLX was profitable.
  • In the past year BLX had a positive cash flow from operations.
  • In the past 5 years BLX has always been profitable.
  • In the past 5 years BLX always reported a positive cash flow from operatings.
BLX.CA Yearly Net Income VS EBIT VS OCF VS FCFBLX.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M -200M 400M

1.2 Ratios

  • Looking at the Return On Assets, with a value of -0.30%, BLX is in the better half of the industry, outperforming 68.75% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of -1.51%, BLX is in the better half of the industry, outperforming 78.13% of the companies in the same industry.
  • 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.
  • The Average Return On Invested Capital over the past 3 years for BLX is in line with the industry average of 3.78%.
Industry RankSector 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%
BLX.CA Yearly ROA, ROE, ROICBLX.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2 -2 4 -4

1.3 Margins

  • BLX's Profit Margin has improved in the last couple of years.
  • BLX has a Operating Margin of 22.10%. This is in the better half of the industry: BLX outperforms 71.88% of its industry peers.
  • In the last couple of years the Operating Margin of BLX has remained more or less at the same level.
  • BLX has a better Gross Margin (75.60%) than 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 RankSector 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%
BLX.CA Yearly Profit, Operating, Gross MarginsBLX.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. BLX.CA Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BLX is destroying value.
  • Compared to 1 year ago, BLX has about the same amount of shares outstanding.
  • Compared to 5 years ago, BLX has about the same amount of shares outstanding.
  • BLX has a worse debt/assets ratio than last year.
BLX.CA Yearly Shares OutstandingBLX.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
BLX.CA Yearly Total Debt VS Total AssetsBLX.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

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.
  • With a decent Altman-Z score value of 0.50, BLX is doing good in the industry, outperforming 75.00% of the companies in the same industry.
  • BLX has a Debt/Equity ratio of 2.86. This is a high value indicating a heavy dependency on external financing.
  • BLX has a Debt to Equity ratio (2.86) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 2.86
Debt/FCF N/A
Altman-Z 0.5
ROIC/WACC0.34
WACC5.39%
BLX.CA Yearly LT Debt VS Equity VS FCFBLX.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B 2B 3B 4B

2.3 Liquidity

  • BLX has a Current Ratio of 1.26. This is a normal value and indicates that BLX is financially healthy and should not expect problems in meeting its short term obligations.
  • BLX has a better Current ratio (1.26) than 81.25% of its industry peers.
  • BLX has a Quick Ratio of 1.26. This is a normal value and indicates that BLX is financially healthy and should not expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 1.26, BLX belongs to the top of the industry, outperforming 84.38% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.26
Quick Ratio 1.26
BLX.CA Yearly Current Assets VS Current LiabilitesBLX.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. BLX.CA Growth Analysis

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
  • BLX shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -11.91%.
  • The Revenue has been growing by 8.24% on average over the past years. This is quite good.
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 22.92% 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 5Y22.92%
Revenue Next Year3.29%
Revenue Next 2Y7.74%
Revenue Next 3Y6.07%
Revenue Next 5Y15.56%

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
BLX.CA Yearly Revenue VS EstimatesBLX.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 200M 400M 600M 800M 1B
BLX.CA Yearly EPS VS EstimatesBLX.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 0.5 1 1.5

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2

4. BLX.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • BLX is valuated quite expensively with a Price/Earnings ratio of 245.91.
  • BLX's Price/Earnings ratio is in line with the industry average.
  • The average S&P500 Price/Earnings ratio is at 26.29. BLX is valued rather expensively when compared to this.
  • With a Price/Forward Earnings ratio of 22.09, BLX is valued on the expensive side.
  • Based on the Price/Forward Earnings ratio, BLX is valued a bit cheaper than the industry average as 75.00% of the companies are valued more expensively.
  • BLX's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 24.57.
Industry RankSector Rank
PE 245.91
Fwd PE 22.09
BLX.CA Price Earnings VS Forward Price EarningsBLX.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 50 100 150 200

4.2 Price Multiples

  • 62.50% of the companies in the same industry are cheaper than BLX, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 15.1
BLX.CA Per share dataBLX.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10

4.3 Compensation for Growth

  • The decent profitability rating of BLX may justify a higher PE ratio.
  • A more expensive valuation may be justified as BLX's earnings are expected to grow with 25.53% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y34.2%
EPS Next 3Y25.53%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. BLX.CA Dividend Analysis

5.1 Amount

  • BLX has a Yearly Dividend Yield of 2.44%.
  • Compared to an average industry Dividend Yield of 3.44, BLX has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, BLX pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.44%

5.2 History

  • The dividend of BLX decreases each year by -0.04%.
  • BLX has been paying a dividend for at least 10 years, so it has a reliable track record.
  • BLX has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-0.04%
Div Incr Years0
Div Non Decr Years10
BLX.CA Yearly Dividends per shareBLX.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6

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.
DP-295.65%
EPS Next 2Y34.2%
EPS Next 3Y25.53%
BLX.CA Yearly Income VS Free CF VS DividendBLX.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M 200M -200M

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BLX.CA Fundamentals: All Metrics, Ratios and Statistics

BORALEX INC -A

TSX:BLX (3/6/2026, 7:00:00 PM)

27.05

-0.03 (-0.11%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Earnings (Last)02-27
Earnings (Next)05-12
Inst Owners65.78%
Inst Owner ChangeN/A
Ins Owners0.07%
Ins Owner ChangeN/A
Market Cap2.78B
Revenue(TTM)828.00M
Net Income(TTM)-23.00M
Analysts78.33
Price Target35.59 (31.57%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.44%
Yearly Dividend0.66
Dividend Growth(5Y)-0.04%
DP-295.65%
Div Incr Years0
Div Non Decr Years10
Ex-Date02-27
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)-7.1%
EPS NQ rev (1m)-9.55%
EPS NQ rev (3m)-12.33%
EPS NY rev (1m)0%
EPS NY rev (3m)-16.42%
Revenue NQ rev (1m)-9.06%
Revenue NQ rev (3m)-10.13%
Revenue NY rev (1m)-0.46%
Revenue NY rev (3m)-1.1%
Valuation
Industry RankSector Rank
PE 245.91
Fwd PE 22.09
P/S 3.36
P/FCF N/A
P/OCF 8.01
P/B 1.82
P/tB 8.71
EV/EBITDA 15.1
EPS(TTM)0.11
EY0.41%
EPS(NY)1.22
Fwd EY4.53%
FCF(TTM)-3.77
FCFYN/A
OCF(TTM)3.38
OCFY12.48%
SpS8.06
BVpS14.86
TBVpS3.1
PEG (NY)N/A
PEG (5Y)N/A
Graham Number6.06
Profitability
Industry RankSector 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 RankSector 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
WACC5.39%
ROIC/WACC0.34
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 5Y22.92%
Revenue 1Y (TTM)-11.91%
Revenue growth 3Y7.27%
Revenue growth 5Y8.24%
Sales Q2Q%4.67%
Revenue Next Year3.29%
Revenue Next 2Y7.74%
Revenue Next 3Y6.07%
Revenue Next 5Y15.56%
EBIT growth 1Y-31.46%
EBIT growth 3Y7.49%
EBIT growth 5Y9.76%
EBIT Next Year129.55%
EBIT Next 3Y39.24%
EBIT Next 5Y25.45%
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 2 / 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%.