BORALEX INC -A (BLX.CA) Stock Fundamental Analysis
Canada • Toronto Stock Exchange • TSX:BLX • CA09950M3003
25.25 CAD
+0.25 (+1%)
Last: Jan 30, 2026, 07:00 PM
We assign a fundamental rating of 5 out of 10 to BLX. BLX was compared to 33 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. BLX is quite expensive at the moment. 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.
- Each year in the past 5 years BLX had a positive operating cash flow.
1.2 Ratios
- The Return On Assets of BLX (-0.30%) is better than 66.67% of its industry peers.
- BLX has a Return On Equity of -1.51%. This is in the better half of the industry: BLX outperforms 78.79% of its industry peers.
- With a Return On Invested Capital value of 1.83%, BLX is not doing good in the industry: 66.67% of the companies in the same industry are doing better.
- 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
- BLX's Profit Margin has improved in the last couple of years.
- Looking at the Operating Margin, with a value of 22.10%, BLX is in the better half of the industry, outperforming 69.70% 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.
- Looking at the Gross Margin, with a value of 75.60%, BLX is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
- 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
- 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.
- The number of shares outstanding for BLX has been increased compared to 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 0.48, we must say that BLX is in the distress zone and has some risk of bankruptcy.
- BLX has a Altman-Z score of 0.48. This is in the better half of the industry: BLX outperforms 69.70% 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.
- With a Debt to Equity ratio value of 2.86, BLX perfoms like the industry average, outperforming 45.45% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.86 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.48 |
ROIC/WACC0.35
WACC5.28%
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 Current ratio of 1.26. This is amongst the best in the industry. BLX outperforms 81.82% 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 84.85% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.26 | ||
| Quick Ratio | 1.26 |
3. Growth
3.1 Past
- The earnings per share for BLX have decreased strongly by -87.21% in the last year.
- The Earnings Per Share has been growing by 58.74% on average over the past years. This is a very strong growth
- Looking at the last year, BLX shows a very negative growth in Revenue. The Revenue has decreased by -11.91% in the last year.
- 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 23.29% on average over the next years. This is a very strong growth
- Based on estimates for the next years, BLX will show a quite strong growth in Revenue. The Revenue will grow by 15.56% on average per year.
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
- 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.
4. Valuation
4.1 Price/Earnings Ratio
- Based on the Price/Earnings ratio of 229.55, the valuation of BLX can be described as expensive.
- Compared to the rest of the industry, the Price/Earnings ratio of BLX indicates a somewhat cheap valuation: BLX is cheaper than 66.67% of the companies listed in the same industry.
- Compared to an average S&P500 Price/Earnings ratio of 28.32, BLX is valued quite expensively.
- With a Price/Forward Earnings ratio of 20.62, 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 75.76% 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 25.57.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 229.55 | ||
| Fwd PE | 20.62 |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BLX indicates a slightly more expensive valuation: BLX is more expensive than 60.61% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 14.72 |
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
- With a Yearly Dividend Yield of 2.64%, BLX has a reasonable but not impressive dividend return.
- Compared to an average industry Dividend Yield of 3.73, BLX is paying slightly less dividend.
- BLX's Dividend Yield is a higher than the S&P500 average which is at 1.83.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.64% |
5.2 History
- The dividend of BLX has a limited annual growth rate of 0.48%.
- BLX has been paying a dividend for at least 10 years, so it has 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
- BLX has negative earnings and hence a negative payout ratio. The dividend may be in danger.
- 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%
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%.