BORALEX INC -A (BLX.CA) Stock Fundamental Analysis
Canada • Toronto Stock Exchange • TSX:BLX • CA09950M3003
27.21 CAD
+1.21 (+4.65%)
Last: Feb 6, 2026, 07:00 PM
Taking everything into account, BLX scores 5 out of 10 in our fundamental rating. BLX was compared to 33 industry peers in the Independent Power and Renewable Electricity Producers industry. There are concerns on the financial health of BLX while its profitability can be described as average. While showing a medium growth rate, BLX is valued expensive at the moment.
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 has a better Return On Assets (-0.30%) than 66.67% of its industry peers.
- BLX has a better Return On Equity (-1.51%) than 78.79% of its industry peers.
- BLX has a worse Return On Invested Capital (1.83%) than 69.70% of its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for BLX 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.
- With a decent Operating Margin value of 22.10%, BLX is doing good in 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.
- BLX's Gross Margin of 75.60% is fine compared to the rest of the industry. BLX outperforms 63.64% of its industry peers.
- BLX's Gross Margin has been stable in the last couple of years.
| 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
- BLX has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
- The number of shares outstanding for BLX remains at a similar level compared to 1 year ago.
- The number of shares outstanding for BLX has been increased compared to 5 years ago.
- BLX has a worse debt/assets ratio than last year.
2.2 Solvency
- Based on the Altman-Z score of 0.49, we must say that BLX is in the distress zone and has some risk of bankruptcy.
- BLX's Altman-Z score of 0.49 is fine compared to the rest of the industry. BLX outperforms 69.70% of its industry peers.
- A Debt/Equity ratio of 2.86 is on the high side and indicates that BLX has dependencies on debt financing.
- BLX has a Debt to Equity ratio (2.86) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.86 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.49 |
ROIC/WACC0.34
WACC5.36%
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's Current ratio of 1.26 is amongst the best of 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.
- BLX has a Quick ratio of 1.26. This is amongst the best in the industry. BLX outperforms 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.
- BLX shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 58.74% yearly.
- Looking at the last year, BLX shows a very negative growth in Revenue. The Revenue has decreased by -11.91% in the last year.
- 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
- BLX is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 23.29% yearly.
- 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
- 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 247.36, the valuation of BLX can be described as expensive.
- 66.67% of the companies in the same industry are more expensive than BLX, based on the Price/Earnings ratio.
- BLX is valuated expensively when we compare the Price/Earnings ratio to 27.92, which is the current average of the S&P500 Index.
- Based on the Price/Forward Earnings ratio of 22.22, the valuation of BLX can be described as rather expensive.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of BLX indicates a somewhat cheap valuation: BLX is cheaper than 72.73% of the companies listed in the same industry.
- Compared to an average S&P500 Price/Forward Earnings ratio of 27.78, BLX is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 247.36 | ||
| Fwd PE | 22.22 |
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 63.64% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 14.88 |
4.3 Compensation for Growth
- The decent profitability rating of BLX 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 2.64%. Purely for dividend investing, there may be better candidates out there.
- BLX's Dividend Yield is slightly below the industry average, which is at 3.73.
- Compared to an average S&P500 Dividend Yield of 1.83, BLX pays a bit more dividend than the S&P500 average.
| 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 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 (2/6/2026, 7:00:00 PM)
27.21
+1.21 (+4.65%)
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 Cap2.80B
Revenue(TTM)828.00M
Net Income(TTM)-23.00M
Analysts78.33
Price Target36.83 (35.35%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.64% |
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)0%
PT rev (3m)-4.97%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-3.51%
EPS NY rev (1m)0%
EPS NY rev (3m)-23.67%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.91%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.12%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 247.36 | ||
| Fwd PE | 22.22 | ||
| P/S | 3.38 | ||
| P/FCF | N/A | ||
| P/OCF | 8.06 | ||
| P/B | 1.83 | ||
| P/tB | 8.77 | ||
| EV/EBITDA | 14.88 |
EPS(TTM)0.11
EY0.4%
EPS(NY)1.22
Fwd EY4.5%
FCF(TTM)-3.77
FCFYN/A
OCF(TTM)3.38
OCFY12.41%
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 | 0.49 |
F-Score4
WACC5.36%
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 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%.