CAPITAL POWER CORP (CPX.CA) Stock Fundamental Analysis

Canada • Toronto Stock Exchange • TSX:CPX • CA14042M1023

58.39 CAD
-1.36 (-2.28%)
Last: Feb 2, 2026, 07:00 PM
Fundamental Rating

4

CPX gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 33 industry peers in the Independent Power and Renewable Electricity Producers industry. While CPX is still in line with the averages on profitability rating, there are concerns on its financial health. CPX does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • CPX had positive earnings in the past year.
  • In the past year CPX had a positive cash flow from operations.
  • Each year in the past 5 years CPX has been profitable.
  • CPX had a positive operating cash flow in each of the past 5 years.
CPX.CA Yearly Net Income VS EBIT VS OCF VS FCFCPX.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 200M 400M 600M 800M 1B

1.2 Ratios

  • CPX has a Return On Assets of 2.50%. This is amongst the best in the industry. CPX outperforms 81.82% of its industry peers.
  • The Return On Equity of CPX (7.64%) is better than 84.85% of its industry peers.
  • With a Return On Invested Capital value of 2.38%, CPX perfoms like the industry average, outperforming 45.45% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for CPX is above the industry average of 3.78%.
Industry RankSector Rank
ROA 2.5%
ROE 7.64%
ROIC 2.38%
ROA(3y)4.16%
ROA(5y)2.78%
ROE(3y)13.61%
ROE(5y)9.04%
ROIC(3y)5.9%
ROIC(5y)5.1%
CPX.CA Yearly ROA, ROE, ROICCPX.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

  • The Profit Margin of CPX (10.96%) is better than 87.88% of its industry peers.
  • In the last couple of years the Profit Margin of CPX has grown nicely.
  • CPX's Operating Margin of 11.65% is in line compared to the rest of the industry. CPX outperforms 54.55% of its industry peers.
  • CPX's Operating Margin has declined in the last couple of years.
  • CPX has a Gross Margin of 47.75%. This is in the lower half of the industry: CPX underperforms 66.67% of its industry peers.
  • In the last couple of years the Gross Margin of CPX has declined.
Industry RankSector Rank
OM 11.65%
PM (TTM) 10.96%
GM 47.75%
OM growth 3Y8.09%
OM growth 5Y-8.02%
PM growth 3Y99.71%
PM growth 5Y35.39%
GM growth 3Y-7.47%
GM growth 5Y-7.72%
CPX.CA Yearly Profit, Operating, Gross MarginsCPX.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

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2

2. Health

2.1 Basic Checks

  • CPX has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, CPX has more shares outstanding
  • The number of shares outstanding for CPX has been increased compared to 5 years ago.
  • Compared to 1 year ago, CPX has an improved debt to assets ratio.
CPX.CA Yearly Shares OutstandingCPX.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
CPX.CA Yearly Total Debt VS Total AssetsCPX.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.2 Solvency

  • Based on the Altman-Z score of 0.78, we must say that CPX is in the distress zone and has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 0.78, CPX belongs to the top of the industry, outperforming 93.94% of the companies in the same industry.
  • CPX has a debt to FCF ratio of 31.16. This is a negative value and a sign of low solvency as CPX would need 31.16 years to pay back of all of its debts.
  • The Debt to FCF ratio of CPX (31.16) is comparable to the rest of the industry.
  • A Debt/Equity ratio of 1.22 is on the high side and indicates that CPX has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 1.22, CPX is in the better half of the industry, outperforming 78.79% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.22
Debt/FCF 31.16
Altman-Z 0.78
ROIC/WACC0.37
WACC6.4%
CPX.CA Yearly LT Debt VS Equity VS FCFCPX.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.3 Liquidity

  • A Current Ratio of 0.74 indicates that CPX may have some problems paying its short term obligations.
  • With a Current ratio value of 0.74, CPX is not doing good in the industry: 60.61% of the companies in the same industry are doing better.
  • CPX has a Quick Ratio of 0.74. This is a bad value and indicates that CPX is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Quick ratio value of 0.63, CPX is not doing good in the industry: 60.61% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.74
Quick Ratio 0.63
CPX.CA Yearly Current Assets VS Current LiabilitesCPX.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B 2.5B

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3

3. Growth

3.1 Past

  • CPX shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -32.37%.
  • Measured over the past years, CPX shows a very strong growth in Earnings Per Share. The EPS has been growing by 31.29% on average per year.
  • The Revenue for CPX has decreased by -10.55% in the past year. This is quite bad
  • The Revenue has been growing by 13.98% on average over the past years. This is quite good.
EPS 1Y (TTM)-32.37%
EPS 3Y37.52%
EPS 5Y31.29%
EPS Q2Q%-28.79%
Revenue 1Y (TTM)-10.55%
Revenue growth 3Y23.8%
Revenue growth 5Y13.98%
Sales Q2Q%17.77%

3.2 Future

  • CPX is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -3.65% yearly.
  • Based on estimates for the next years, CPX will show a small growth in Revenue. The Revenue will grow by 2.59% on average per year.
EPS Next Y-66.21%
EPS Next 2Y-26.22%
EPS Next 3Y-13.45%
EPS Next 5Y-3.65%
Revenue Next Year-2.48%
Revenue Next 2Y2.76%
Revenue Next 3Y3.58%
Revenue Next 5Y2.59%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
CPX.CA Yearly Revenue VS EstimatesCPX.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1B 2B 3B 4B
CPX.CA Yearly EPS VS EstimatesCPX.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6

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3

4. Valuation

4.1 Price/Earnings Ratio

  • CPX is valuated rather expensively with a Price/Earnings ratio of 20.85.
  • Compared to the rest of the industry, the Price/Earnings ratio of CPX indicates a somewhat cheap valuation: CPX is cheaper than 78.79% of the companies listed in the same industry.
  • When comparing the Price/Earnings ratio of CPX to the average of the S&P500 Index (28.41), we can say CPX is valued slightly cheaper.
  • The Price/Forward Earnings ratio is 20.83, which indicates a rather expensive current valuation of CPX.
  • CPX's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. CPX is cheaper than 75.76% of the companies in the same industry.
  • CPX is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 25.64, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 20.85
Fwd PE 20.83
CPX.CA Price Earnings VS Forward Price EarningsCPX.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 50 100 150 200

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of CPX indicates a slightly more expensive valuation: CPX is more expensive than 66.67% of the companies listed in the same industry.
  • CPX's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 41.57
EV/EBITDA 16.29
CPX.CA Per share dataCPX.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • CPX has a very decent profitability rating, which may justify a higher PE ratio.
  • CPX's earnings are expected to decrease with -13.45% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)0.67
EPS Next 2Y-26.22%
EPS Next 3Y-13.45%

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6

5. Dividend

5.1 Amount

  • CPX has a Yearly Dividend Yield of 4.49%, which is a nice return.
  • Compared to an average industry Dividend Yield of 3.73, CPX pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.83, CPX pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.49%

5.2 History

  • The dividend of CPX decreases each year by -1.04%.
  • CPX has been paying a dividend for at least 10 years, so it has a reliable track record.
  • CPX has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)-1.04%
Div Incr Years11
Div Non Decr Years15
CPX.CA Yearly Dividends per shareCPX.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3

5.3 Sustainability

  • 84.33% of the earnings are spent on dividend by CPX. This is not a sustainable payout ratio.
  • CPX's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP84.33%
EPS Next 2Y-26.22%
EPS Next 3Y-13.45%
CPX.CA Yearly Income VS Free CF VS DividendCPX.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
CPX.CA Dividend Payout.CPX.CA Dividend Payout, showing the Payout Ratio.CPX.CA Dividend Payout.PayoutRetained Earnings

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CAPITAL POWER CORP

TSX:CPX (2/2/2026, 7:00:00 PM)

58.39

-1.36 (-2.28%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Earnings (Last)10-29
Earnings (Next)02-24
Inst Owners23.22%
Inst Owner ChangeN/A
Ins Owners0.04%
Ins Owner ChangeN/A
Market Cap9.10B
Revenue(TTM)3.50B
Net Income(TTM)383.00M
Analysts75
Price Target75.27 (28.91%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.49%
Yearly Dividend2.18
Dividend Growth(5Y)-1.04%
DP84.33%
Div Incr Years11
Div Non Decr Years15
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-130.18%
Min EPS beat(2)-253.19%
Max EPS beat(2)-7.16%
EPS beat(4)2
Avg EPS beat(4)-22.55%
Min EPS beat(4)-253.19%
Max EPS beat(4)101.4%
EPS beat(8)5
Avg EPS beat(8)7.39%
EPS beat(12)7
Avg EPS beat(12)27.64%
EPS beat(16)10
Avg EPS beat(16)25.28%
Revenue beat(2)1
Avg Revenue beat(2)-10.69%
Min Revenue beat(2)-45.83%
Max Revenue beat(2)24.45%
Revenue beat(4)2
Avg Revenue beat(4)-3.64%
Min Revenue beat(4)-45.83%
Max Revenue beat(4)24.45%
Revenue beat(8)5
Avg Revenue beat(8)8.37%
Revenue beat(12)9
Avg Revenue beat(12)25.13%
Revenue beat(16)12
Avg Revenue beat(16)23.25%
PT rev (1m)0.23%
PT rev (3m)2.79%
EPS NQ rev (1m)18.09%
EPS NQ rev (3m)-9.81%
EPS NY rev (1m)4.21%
EPS NY rev (3m)0.63%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)4.77%
Valuation
Industry RankSector Rank
PE 20.85
Fwd PE 20.83
P/S 2.6
P/FCF 41.57
P/OCF 7.65
P/B 1.81
P/tB 2.08
EV/EBITDA 16.29
EPS(TTM)2.8
EY4.8%
EPS(NY)2.8
Fwd EY4.8%
FCF(TTM)1.4
FCFY2.41%
OCF(TTM)7.63
OCFY13.07%
SpS22.42
BVpS32.17
TBVpS28.09
PEG (NY)N/A
PEG (5Y)0.67
Graham Number45.02
Profitability
Industry RankSector Rank
ROA 2.5%
ROE 7.64%
ROCE 3.04%
ROIC 2.38%
ROICexc 2.41%
ROICexgc 2.54%
OM 11.65%
PM (TTM) 10.96%
GM 47.75%
FCFM 6.27%
ROA(3y)4.16%
ROA(5y)2.78%
ROE(3y)13.61%
ROE(5y)9.04%
ROIC(3y)5.9%
ROIC(5y)5.1%
ROICexc(3y)6.62%
ROICexc(5y)5.57%
ROICexgc(3y)7.3%
ROICexgc(5y)6.15%
ROCE(3y)7.55%
ROCE(5y)6.53%
ROICexgc growth 3Y17.86%
ROICexgc growth 5Y-4.56%
ROICexc growth 3Y19.31%
ROICexc growth 5Y-3.64%
OM growth 3Y8.09%
OM growth 5Y-8.02%
PM growth 3Y99.71%
PM growth 5Y35.39%
GM growth 3Y-7.47%
GM growth 5Y-7.72%
F-Score4
Asset Turnover0.23
Health
Industry RankSector Rank
Debt/Equity 1.22
Debt/FCF 31.16
Debt/EBITDA 6.34
Cap/Depr 174.01%
Cap/Sales 27.78%
Interest Coverage 1.47
Cash Conversion 123.32%
Profit Quality 57.18%
Current Ratio 0.74
Quick Ratio 0.63
Altman-Z 0.78
F-Score4
WACC6.4%
ROIC/WACC0.37
Cap/Depr(3y)154%
Cap/Depr(5y)128.29%
Cap/Sales(3y)22.84%
Cap/Sales(5y)23.11%
Profit Quality(3y)93.29%
Profit Quality(5y)241.73%
High Growth Momentum
Growth
EPS 1Y (TTM)-32.37%
EPS 3Y37.52%
EPS 5Y31.29%
EPS Q2Q%-28.79%
EPS Next Y-66.21%
EPS Next 2Y-26.22%
EPS Next 3Y-13.45%
EPS Next 5Y-3.65%
Revenue 1Y (TTM)-10.55%
Revenue growth 3Y23.8%
Revenue growth 5Y13.98%
Sales Q2Q%17.77%
Revenue Next Year-2.48%
Revenue Next 2Y2.76%
Revenue Next 3Y3.58%
Revenue Next 5Y2.59%
EBIT growth 1Y-55.37%
EBIT growth 3Y33.82%
EBIT growth 5Y4.84%
EBIT Next Year52.1%
EBIT Next 3Y19.99%
EBIT Next 5Y13.92%
FCF growth 1Y-2.23%
FCF growth 3Y-34.45%
FCF growth 5Y-4.09%
OCF growth 1Y34.92%
OCF growth 3Y9.52%
OCF growth 5Y9.61%

CAPITAL POWER CORP / CPX.CA FAQ

What is the fundamental rating for CPX stock?

ChartMill assigns a fundamental rating of 4 / 10 to CPX.CA.


What is the valuation status for CPX stock?

ChartMill assigns a valuation rating of 3 / 10 to CAPITAL POWER CORP (CPX.CA). This can be considered as Overvalued.


How profitable is CAPITAL POWER CORP (CPX.CA) stock?

CAPITAL POWER CORP (CPX.CA) has a profitability rating of 6 / 10.


What are the PE and PB ratios of CAPITAL POWER CORP (CPX.CA) stock?

The Price/Earnings (PE) ratio for CAPITAL POWER CORP (CPX.CA) is 20.85 and the Price/Book (PB) ratio is 1.81.


What is the earnings growth outlook for CAPITAL POWER CORP?

The Earnings per Share (EPS) of CAPITAL POWER CORP (CPX.CA) is expected to decline by -66.21% in the next year.