BORALEX INC -A (BLX.CA) Fundamental Analysis & Valuation
TSX:BLX • CA09950M3003
27.4 CAD
+0.14 (+0.51%)
Last: Mar 10, 2026, 07:00 PM
This BLX.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
Taking everything into account, BLX scores 5 out of 10 in our fundamental rating. BLX was compared to 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. BLX has a correct valuation and a medium growth rate.
1. BLX.CA Profitability Analysis
1.1 Basic Checks
- In the past year BLX was profitable.
- BLX had a positive operating cash flow in the past year.
- BLX had positive earnings in each of the past 5 years.
- BLX had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- Looking at the Return On Assets, with a value of 0.09%, BLX is in the better half of the industry, outperforming 78.13% of the companies in the same industry.
- BLX's Return On Equity of 0.45% is fine compared to the rest of the industry. BLX outperforms 78.13% of its industry peers.
- BLX's Return On Invested Capital of 2.01% is in line compared to the rest of the industry. BLX outperforms 56.25% of its industry peers.
- BLX had an Average Return On Invested Capital over the past 3 years of 2.67%. This is in line with the industry average of 3.57%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.09% | ||
| ROE | 0.45% | ||
| ROIC | 2.01% |
ROA(3y)0.58%
ROA(5y)0.5%
ROE(3y)2.5%
ROE(5y)2.19%
ROIC(3y)2.67%
ROIC(5y)2.68%
1.3 Margins
- BLX has a better Profit Margin (0.82%) than 84.38% of its industry peers.
- BLX's Profit Margin has declined in the last couple of years.
- BLX has a better Operating Margin (21.55%) than 71.88% of its industry peers.
- In the last couple of years the Operating Margin of BLX has declined.
- BLX's Gross Margin of 75.97% is fine compared to the rest of the industry. BLX outperforms 62.50% of its industry peers.
- BLX's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 21.55% | ||
| PM (TTM) | 0.82% | ||
| GM | 75.97% |
OM growth 3Y-2.93%
OM growth 5Y-5.28%
PM growth 3Y-38.75%
PM growth 5Y-37.56%
GM growth 3Y3.19%
GM growth 5Y-0.05%
2. BLX.CA Health Analysis
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so 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 remains at a similar level compared to 5 years ago.
- Compared to 1 year ago, BLX has a worse debt to assets ratio.
2.2 Solvency
- BLX has an Altman-Z score of 0.51. This is a bad value and indicates that BLX is not financially healthy and even has some risk of bankruptcy.
- BLX has a better Altman-Z score (0.51) than 78.13% 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.
- With a Debt to Equity ratio value of 2.86, BLX perfoms like the industry average, outperforming 40.63% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.86 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.51 |
ROIC/WACC0.35
WACC5.75%
2.3 Liquidity
- A Current Ratio of 1.29 indicates that BLX should not have too much problems paying its short term obligations.
- With an excellent Current ratio value of 1.29, BLX belongs to the best of the industry, outperforming 84.38% of the companies in the same industry.
- A Quick Ratio of 1.29 indicates that BLX should not have too much problems paying its short term obligations.
- BLX has a Quick ratio of 1.29. This is amongst the best in the industry. BLX outperforms 84.38% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.29 | ||
| Quick Ratio | 1.29 |
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 -91.18%.
- The earnings per share for BLX have been decreasing by -35.56% on average. This is quite bad
- Looking at the last year, BLX shows a decrease in Revenue. The Revenue has decreased by -0.47% in the last year.
- The Revenue has been growing slightly by 6.05% on average over the past years.
EPS 1Y (TTM)-91.18%
EPS 3Y-40.85%
EPS 5Y-35.56%
EPS Q2Q%-27.78%
Revenue 1Y (TTM)-0.47%
Revenue growth 3Y0.52%
Revenue growth 5Y6.05%
Sales Q2Q%5.7%
3.2 Future
- Based on estimates for the next years, BLX will show a very strong growth in Earnings Per Share. The EPS will grow by 137.94% on average per year.
- Based on estimates for the next years, BLX will show a quite strong growth in Revenue. The Revenue will grow by 11.04% on average per year.
EPS Next Y1728.52%
EPS Next 2Y333.65%
EPS Next 3Y186.48%
EPS Next 5Y137.95%
Revenue Next Year10.5%
Revenue Next 2Y6.81%
Revenue Next 3Y11.04%
Revenue Next 5YN/A
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 accelerating.
- The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. BLX.CA Valuation Analysis
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 456.67 indicates a quite expensive valuation of BLX.
- Compared to the rest of the industry, the Price/Earnings ratio of BLX is on the same level as its industry peers.
- BLX is valuated expensively when we compare the Price/Earnings ratio to 26.25, which is the current average of the S&P500 Index.
- BLX is valuated rather expensively with a Price/Forward Earnings ratio of 24.97.
- Based on the Price/Forward Earnings ratio, BLX is valued a bit cheaper than 75.00% of the companies in the same industry.
- The average S&P500 Price/Forward Earnings ratio is at 24.39. BLX is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 456.67 | ||
| Fwd PE | 24.97 |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BLX is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 14.26 |
4.3 Compensation for Growth
- The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- 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 186.48% in the coming years.
PEG (NY)0.26
PEG (5Y)N/A
EPS Next 2Y333.65%
EPS Next 3Y186.48%
5. BLX.CA Dividend Analysis
5.1 Amount
- BLX has a Yearly Dividend Yield of 2.44%. Purely for dividend investing, there may be better candidates out there.
- BLX's Dividend Yield is comparable with the industry average which is at 3.45.
- Compared to an average S&P500 Dividend Yield of 1.82, BLX pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.44% |
5.2 History
- The dividend of BLX decreases each year by -0.04%.
- 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)-0.04%
Div Incr Years0
Div Non Decr Years10
5.3 Sustainability
- BLX pays out 971.43% of its income as dividend. This is not a sustainable payout ratio.
DP971.43%
EPS Next 2Y333.65%
EPS Next 3Y186.48%
BLX.CA Fundamentals: All Metrics, Ratios and Statistics
TSX:BLX (3/10/2026, 7:00:00 PM)
27.4
+0.14 (+0.51%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Earnings (Last)02-27 2026-02-27/bmo
Earnings (Next)05-12 2026-05-12
Inst Owners65.78%
Inst Owner ChangeN/A
Ins Owners0.07%
Ins Owner ChangeN/A
Market Cap2.82B
Revenue(TTM)849.00M
Net Income(TTM)7.00M
Analysts78.33
Price Target35.59 (29.89%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.44% |
Yearly Dividend0.66
Dividend Growth(5Y)-0.04%
DP971.43%
Div Incr Years0
Div Non Decr Years10
Ex-Date02-27 2026-02-27 (0.165)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-52.24%
Min EPS beat(2)-74.13%
Max EPS beat(2)-30.34%
EPS beat(4)0
Avg EPS beat(4)-89.07%
Min EPS beat(4)-210.01%
Max EPS beat(4)-30.34%
EPS beat(8)2
Avg EPS beat(8)-45.22%
EPS beat(12)4
Avg EPS beat(12)-22.32%
EPS beat(16)6
Avg EPS beat(16)-26.38%
Revenue beat(2)0
Avg Revenue beat(2)-5.19%
Min Revenue beat(2)-7.18%
Max Revenue beat(2)-3.2%
Revenue beat(4)0
Avg Revenue beat(4)-10.27%
Min Revenue beat(4)-16.5%
Max Revenue beat(4)-3.2%
Revenue beat(8)1
Avg Revenue beat(8)-7.97%
Revenue beat(12)4
Avg Revenue beat(12)-2.53%
Revenue beat(16)6
Avg Revenue beat(16)-1.1%
PT rev (1m)0%
PT rev (3m)-7.1%
EPS NQ rev (1m)-5.08%
EPS NQ rev (3m)-5.08%
EPS NY rev (1m)-10.41%
EPS NY rev (3m)-10.78%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-6.51%
Revenue NY rev (3m)-6.51%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 456.67 | ||
| Fwd PE | 24.97 | ||
| P/S | 3.32 | ||
| P/FCF | N/A | ||
| P/OCF | 7.78 | ||
| P/B | 1.83 | ||
| P/tB | 8.16 | ||
| EV/EBITDA | 14.26 |
EPS(TTM)0.06
EY0.22%
EPS(NY)1.1
Fwd EY4%
FCF(TTM)-2.84
FCFYN/A
OCF(TTM)3.52
OCFY12.86%
SpS8.26
BVpS15.01
TBVpS3.36
PEG (NY)0.26
PEG (5Y)N/A
Graham Number4.5
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.09% | ||
| ROE | 0.45% | ||
| ROCE | 2.56% | ||
| ROIC | 2.01% | ||
| ROICexc | 2.09% | ||
| ROICexgc | 2.53% | ||
| OM | 21.55% | ||
| PM (TTM) | 0.82% | ||
| GM | 75.97% | ||
| FCFM | N/A |
ROA(3y)0.58%
ROA(5y)0.5%
ROE(3y)2.5%
ROE(5y)2.19%
ROIC(3y)2.67%
ROIC(5y)2.68%
ROICexc(3y)2.88%
ROICexc(5y)2.88%
ROICexgc(3y)3.63%
ROICexgc(5y)3.71%
ROCE(3y)3.41%
ROCE(5y)3.43%
ROICexgc growth 3Y-12.51%
ROICexgc growth 5Y-9.35%
ROICexc growth 3Y-10.05%
ROICexc growth 5Y-7.11%
OM growth 3Y-2.93%
OM growth 5Y-5.28%
PM growth 3Y-38.75%
PM growth 5Y-37.56%
GM growth 3Y3.19%
GM growth 5Y-0.05%
F-Score4
Asset Turnover0.11
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.86 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 8.74 | ||
| Cap/Depr | 203.74% | ||
| Cap/Sales | 77.03% | ||
| Interest Coverage | 1.16 | ||
| Cash Conversion | 71.83% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.29 | ||
| Quick Ratio | 1.29 | ||
| Altman-Z | 0.51 |
F-Score4
WACC5.75%
ROIC/WACC0.35
Cap/Depr(3y)150.5%
Cap/Depr(5y)118.22%
Cap/Sales(3y)52.47%
Cap/Sales(5y)42.2%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-91.18%
EPS 3Y-40.85%
EPS 5Y-35.56%
EPS Q2Q%-27.78%
EPS Next Y1728.52%
EPS Next 2Y333.65%
EPS Next 3Y186.48%
EPS Next 5Y137.95%
Revenue 1Y (TTM)-0.47%
Revenue growth 3Y0.52%
Revenue growth 5Y6.05%
Sales Q2Q%5.7%
Revenue Next Year10.5%
Revenue Next 2Y6.81%
Revenue Next 3Y11.04%
Revenue Next 5YN/A
EBIT growth 1Y-19.38%
EBIT growth 3Y-2.43%
EBIT growth 5Y0.44%
EBIT Next Year183.07%
EBIT Next 3Y45.76%
EBIT Next 5Y31.6%
FCF growth 1Y-23.21%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y68.37%
OCF growth 3Y-10.97%
OCF growth 5Y0%
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 4 / 10 to BORALEX INC -A (BLX.CA). This can be considered as Fairly Valued.
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 grow by 1728.52% 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 4 / 10 and the dividend payout ratio is 971.43%.