BORALEX INC -A (BLX.CA) Stock Fundamental Analysis
TSX:BLX - Toronto Stock Exchange - CA09950M3003 - Common Stock - Currency: CAD
Taking everything into account, BLX scores 5 out of 10 in our fundamental rating. BLX was compared to 34 industry peers in the Independent Power and Renewable Electricity Producers industry. While BLX belongs to the best of the industry regarding profitability, 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.
In the past year BLX had a positive cash flow from operations.
Each year in the past 5 years BLX has been profitable.
In the past 5 years BLX always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of BLX (0.15%) is better than 64.71% of its industry peers.
With a decent Return On Equity value of 0.69%, BLX is doing good in the industry, outperforming 64.71% of the companies in the same industry.
The Return On Invested Capital of BLX (2.05%) is better than 61.76% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BLX is below the industry average of 5.58%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.15% | ||
| ROE | 0.69% | ||
| ROIC | 2.05% |
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
Looking at the Profit Margin, with a value of 1.34%, BLX is in the better half of the industry, outperforming 70.59% of the companies in the same industry.
In the last couple of years the Profit Margin of BLX has grown nicely.
Looking at the Operating Margin, with a value of 23.84%, BLX is in the better half of the industry, outperforming 67.65% of the companies in the same industry.
BLX's Operating Margin has been stable in the last couple of years.
BLX has a better Gross Margin (76.40%) than 82.35% of its industry peers.
BLX's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.84% | ||
| PM (TTM) | 1.34% | ||
| GM | 76.4% |
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.
The number of shares outstanding for BLX remains at a similar level compared to 1 year ago.
BLX has more shares outstanding than it did 5 years ago.
BLX has a worse debt/assets ratio than last year.
2.2 Solvency
BLX has an Altman-Z score of 0.52. This is a bad value and indicates that BLX is not financially healthy and even has some risk of bankruptcy.
With a decent Altman-Z score value of 0.52, BLX is doing good in the industry, outperforming 70.59% of the companies in the same industry.
A Debt/Equity ratio of 2.51 is on the high side and indicates that BLX has dependencies on debt financing.
BLX has a better Debt to Equity ratio (2.51) than 64.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.51 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.52 |
ROIC/WACC0.43
WACC4.79%
2.3 Liquidity
A Current Ratio of 0.94 indicates that BLX may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.94, BLX is in line with its industry, outperforming 58.82% of the companies in the same industry.
BLX has a Quick Ratio of 0.94. This is a bad value and indicates that BLX is not financially healthy enough and could expect problems in meeting its short term obligations.
With a decent Quick ratio value of 0.94, BLX is doing good in the industry, outperforming 61.76% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.94 | ||
| Quick Ratio | 0.94 |
3. Growth
3.1 Past
The earnings per share for BLX have decreased strongly by -58.10% 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
The Revenue for BLX has decreased by -16.63% in the past year. This is quite bad
The Revenue has been growing by 8.24% on average over the past years. This is quite good.
EPS 1Y (TTM)-58.1%
EPS 3Y58.74%
EPS 5YN/A
EPS Q2Q%-45.28%
Revenue 1Y (TTM)-16.63%
Revenue growth 3Y7.27%
Revenue growth 5Y8.24%
Sales Q2Q%-12.74%
3.2 Future
The Earnings Per Share is expected to grow by 24.26% 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 Y33.43%
EPS Next 2Y35.85%
EPS Next 3Y29.58%
EPS Next 5Y24.26%
Revenue Next Year7.91%
Revenue Next 2Y10.17%
Revenue Next 3Y9.21%
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
The Price/Earnings ratio is 67.11, which means the current valuation is very expensive for BLX.
Based on the Price/Earnings ratio, BLX is valued a bit cheaper than 64.71% of the companies in the same industry.
BLX is valuated expensively when we compare the Price/Earnings ratio to 26.93, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 23.53, which indicates a rather expensive current valuation of BLX.
BLX's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. BLX is cheaper than 73.53% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 35.31. BLX is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 67.11 | ||
| Fwd PE | 23.53 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as BLX.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 14.16 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The decent profitability rating of BLX may justify a higher PE ratio.
BLX's earnings are expected to grow with 29.58% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.01
PEG (5Y)N/A
EPS Next 2Y35.85%
EPS Next 3Y29.58%
5. Dividend
5.1 Amount
BLX has a Yearly Dividend Yield of 2.16%. Purely for dividend investing, there may be better candidates out there.
BLX's Dividend Yield is comparable with the industry average which is at 4.43.
BLX's Dividend Yield is comparable with the S&P500 average which is at 2.39.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.16% |
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 their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)0.48%
Div Incr Years0
Div Non Decr Years10
5.3 Sustainability
BLX pays out 618.18% of its income as dividend. This is not a sustainable payout ratio.
BLX's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP618.18%
EPS Next 2Y35.85%
EPS Next 3Y29.58%
TSX:BLX (8/13/2025, 7:00:00 PM)
29.53
-0.11 (-0.37%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Earnings (Last)
Earnings (Next)
Inst Owners57.5%
Inst Owner ChangeN/A
Ins Owners0.1%
Ins Owner ChangeN/A
Market Cap3.03B
Analysts77.14
Price Target39.73 (34.54%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.16% |
Yearly Dividend0.66
Dividend Growth(5Y)0.48%
DP618.18%
Div Incr Years0
Div Non Decr Years10
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-49.03%
Min EPS beat(2)-56.27%
Max EPS beat(2)-41.8%
EPS beat(4)1
Avg EPS beat(4)-16.81%
Min EPS beat(4)-56.27%
Max EPS beat(4)50.02%
EPS beat(8)4
Avg EPS beat(8)6.3%
EPS beat(12)5
Avg EPS beat(12)-11.51%
EPS beat(16)7
Avg EPS beat(16)-43.18%
Revenue beat(2)0
Avg Revenue beat(2)-15.37%
Min Revenue beat(2)-16.5%
Max Revenue beat(2)-14.25%
Revenue beat(4)0
Avg Revenue beat(4)-10.76%
Min Revenue beat(4)-16.5%
Max Revenue beat(4)-5.31%
Revenue beat(8)3
Avg Revenue beat(8)-2.2%
Revenue beat(12)5
Avg Revenue beat(12)0.34%
Revenue beat(16)6
Avg Revenue beat(16)-1.36%
PT rev (1m)0%
PT rev (3m)0.39%
EPS NQ rev (1m)0%
EPS NQ rev (3m)28.57%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-3.24%
Revenue NY rev (1m)-1.08%
Revenue NY rev (3m)-1.08%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 67.11 | ||
| Fwd PE | 23.53 | ||
| P/S | 3.69 | ||
| P/FCF | N/A | ||
| P/OCF | 19.33 | ||
| P/B | 1.9 | ||
| P/tB | 7.64 | ||
| EV/EBITDA | 14.16 |
EPS(TTM)0.44
EY1.49%
EPS(NY)1.25
Fwd EY4.25%
FCF(TTM)-5.12
FCFYN/A
OCF(TTM)1.53
OCFY5.17%
SpS8
BVpS15.58
TBVpS3.86
PEG (NY)2.01
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.15% | ||
| ROE | 0.69% | ||
| ROCE | 2.89% | ||
| ROIC | 2.05% | ||
| ROICexc | 2.17% | ||
| ROICexgc | 2.68% | ||
| OM | 23.84% | ||
| PM (TTM) | 1.34% | ||
| GM | 76.4% | ||
| 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%
ROICexcg growth 3Y-1.44%
ROICexcg 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 | 2.51 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 8.13 | ||
| Cap/Depr | 229.2% | ||
| Cap/Sales | 83.09% | ||
| Interest Coverage | 1.45 | ||
| Cash Conversion | 31.78% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.94 | ||
| Quick Ratio | 0.94 | ||
| Altman-Z | 0.52 |
F-Score4
WACC4.79%
ROIC/WACC0.43
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)-58.1%
EPS 3Y58.74%
EPS 5YN/A
EPS Q2Q%-45.28%
EPS Next Y33.43%
EPS Next 2Y35.85%
EPS Next 3Y29.58%
EPS Next 5Y24.26%
Revenue 1Y (TTM)-16.63%
Revenue growth 3Y7.27%
Revenue growth 5Y8.24%
Sales Q2Q%-12.74%
Revenue Next Year7.91%
Revenue Next 2Y10.17%
Revenue Next 3Y9.21%
Revenue Next 5Y15.56%
EBIT growth 1Y-27.68%
EBIT growth 3Y7.49%
EBIT growth 5Y9.76%
EBIT Next Year141.33%
EBIT Next 3Y40.63%
EBIT Next 5Y28.5%
FCF growth 1Y-252.46%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-74.68%
OCF growth 3Y-14.58%
OCF growth 5Y-6.07%