BORALEX INC -A (BLX.CA) Stock Fundamental Analysis
TSX:BLX - CA09950M3003 - Common Stock
28.15 CAD
+0.15 (+0.54%)
Overall BLX gets a fundamental rating of 5 out of 10. We evaluated BLX against 33 industry peers in the Independent Power and Renewable Electricity Producers industry. While BLX is still in line with the averages on profitability rating, 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.
BLX had a positive operating cash flow in the past year.
In the past 5 years BLX has always been profitable.
BLX had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
BLX has a Return On Assets of -0.13%. This is in the better half of the industry: BLX outperforms 75.76% of its industry peers.
BLX has a Return On Equity of -0.64%. This is in the better half of the industry: BLX outperforms 75.76% of its industry peers.
Looking at the Return On Invested Capital, with a value of 1.98%, BLX is doing worse than 60.61% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for BLX is in line with the industry average of 4.55%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.13% | ||
| ROE | -0.64% | ||
| ROIC | 1.98% |
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 23.25%, BLX is doing good in the industry, outperforming 66.67% of the companies in the same industry.
BLX's Operating Margin has been stable in the last couple of years.
Looking at the Gross Margin, with a value of 75.66%, BLX is in the better half of the industry, outperforming 63.64% of the companies in the same industry.
BLX's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.25% | ||
| PM (TTM) | N/A | ||
| GM | 75.66% |
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.
Compared to 5 years ago, BLX has more shares outstanding
Compared to 1 year ago, BLX has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.52, we must say that BLX is in the distress zone and has some risk of bankruptcy.
BLX has a better Altman-Z score (0.52) than 72.73% of its industry peers.
BLX has a Debt/Equity ratio of 2.65. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 2.65, BLX perfoms like the industry average, outperforming 45.45% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.65 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.52 |
ROIC/WACC0.39
WACC5.08%
2.3 Liquidity
A Current Ratio of 1.08 indicates that BLX should not have too much problems paying its short term obligations.
BLX has a better Current ratio (1.08) than 81.82% of its industry peers.
BLX has a Quick Ratio of 1.08. 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 Quick ratio of 1.08 is amongst the best of the industry. BLX outperforms 84.85% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.08 | ||
| Quick Ratio | 1.08 |
3. Growth
3.1 Past
The earnings per share for BLX have decreased strongly by -75.00% 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.
The Revenue for BLX has decreased by -13.45% in the past year. This is quite bad
Measured over the past years, BLX shows a quite strong growth in Revenue. The Revenue has been growing by 8.24% on average per year.
EPS 1Y (TTM)-75%
EPS 3Y58.74%
EPS 5YN/A
EPS Q2Q%-200%
Revenue 1Y (TTM)-13.45%
Revenue growth 3Y7.27%
Revenue growth 5Y8.24%
Sales Q2Q%2.78%
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 23.81% on average per year.
The Revenue is expected to grow by 15.56% on average over the next years. This is quite good.
EPS Next Y24.02%
EPS Next 2Y35.95%
EPS Next 3Y30.39%
EPS Next 5Y23.81%
Revenue Next Year8.93%
Revenue Next 2Y10.68%
Revenue Next 3Y7.26%
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
A Price/Earnings ratio of 117.29 indicates a quite expensive valuation of BLX.
Compared to the rest of the industry, the Price/Earnings ratio of BLX indicates a somewhat cheap valuation: BLX is cheaper than 72.73% of the companies listed in the same industry.
BLX's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.06.
With a Price/Forward Earnings ratio of 22.40, BLX is valued on the expensive side.
BLX's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. BLX is cheaper than 72.73% of the companies in the same industry.
BLX's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 22.69.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 117.29 | ||
| Fwd PE | 22.4 |
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 66.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 14.28 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates BLX does not grow enough to justify the current Price/Earnings ratio.
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 30.39% in the coming years.
PEG (NY)4.88
PEG (5Y)N/A
EPS Next 2Y35.95%
EPS Next 3Y30.39%
5. Dividend
5.1 Amount
BLX has a Yearly Dividend Yield of 2.36%.
BLX's Dividend Yield is slightly below the industry average, which is at 4.78.
Compared to an average S&P500 Dividend Yield of 2.45, BLX has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.36% |
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
The earnings of BLX are negative and hence is the payout ratio. BLX will probably not be able to sustain this dividend level.
BLX's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP-680%
EPS Next 2Y35.95%
EPS Next 3Y30.39%
TSX:BLX (9/5/2025, 7:00:00 PM)
28.15
+0.15 (+0.54%)
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 Cap2.89B
Analysts76.92
Price Target39.53 (40.43%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.36% |
Yearly Dividend0.66
Dividend Growth(5Y)0.48%
DP-680%
Div Incr Years0
Div Non Decr Years10
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-125.9%
Min EPS beat(2)-210.01%
Max EPS beat(2)-41.8%
EPS beat(4)0
Avg EPS beat(4)-81.81%
Min EPS beat(4)-210.01%
Max EPS beat(4)-19.18%
EPS beat(8)3
Avg EPS beat(8)-27.38%
EPS beat(12)4
Avg EPS beat(12)-32.93%
EPS beat(16)7
Avg EPS beat(16)-21.99%
Revenue beat(2)0
Avg Revenue beat(2)-15.34%
Min Revenue beat(2)-16.5%
Max Revenue beat(2)-14.18%
Revenue beat(4)0
Avg Revenue beat(4)-12.56%
Min Revenue beat(4)-16.5%
Max Revenue beat(4)-5.31%
Revenue beat(8)2
Avg Revenue beat(8)-4.72%
Revenue beat(12)5
Avg Revenue beat(12)-0.49%
Revenue beat(16)6
Avg Revenue beat(16)-1.5%
PT rev (1m)-0.51%
PT rev (3m)1.17%
EPS NQ rev (1m)21.36%
EPS NQ rev (3m)41.02%
EPS NY rev (1m)-7.05%
EPS NY rev (3m)-7.05%
Revenue NQ rev (1m)-4.83%
Revenue NQ rev (3m)1.37%
Revenue NY rev (1m)0.94%
Revenue NY rev (3m)-0.15%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 117.29 | ||
| Fwd PE | 22.4 | ||
| P/S | 3.49 | ||
| P/FCF | N/A | ||
| P/OCF | 22.96 | ||
| P/B | 1.84 | ||
| P/tB | 7.8 | ||
| EV/EBITDA | 14.28 |
EPS(TTM)0.24
EY0.85%
EPS(NY)1.26
Fwd EY4.46%
FCF(TTM)-5.63
FCFYN/A
OCF(TTM)1.23
OCFY4.36%
SpS8.08
BVpS15.31
TBVpS3.61
PEG (NY)4.88
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.13% | ||
| ROE | -0.64% | ||
| ROCE | 2.79% | ||
| ROIC | 1.98% | ||
| ROICexc | 2.08% | ||
| ROICexgc | 2.55% | ||
| OM | 23.25% | ||
| PM (TTM) | N/A | ||
| GM | 75.66% | ||
| 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 | 2.65 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 8.41 | ||
| Cap/Depr | 232.67% | ||
| Cap/Sales | 84.94% | ||
| Interest Coverage | 1.33 | ||
| Cash Conversion | 25.4% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.08 | ||
| Quick Ratio | 1.08 | ||
| Altman-Z | 0.52 |
F-Score4
WACC5.08%
ROIC/WACC0.39
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)-75%
EPS 3Y58.74%
EPS 5YN/A
EPS Q2Q%-200%
EPS Next Y24.02%
EPS Next 2Y35.95%
EPS Next 3Y30.39%
EPS Next 5Y23.81%
Revenue 1Y (TTM)-13.45%
Revenue growth 3Y7.27%
Revenue growth 5Y8.24%
Sales Q2Q%2.78%
Revenue Next Year8.93%
Revenue Next 2Y10.68%
Revenue Next 3Y7.26%
Revenue Next 5Y15.56%
EBIT growth 1Y-28.78%
EBIT growth 3Y7.49%
EBIT growth 5Y9.76%
EBIT Next Year141.33%
EBIT Next 3Y40.63%
EBIT Next 5Y26.24%
FCF growth 1Y-235.91%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-81.11%
OCF growth 3Y-14.58%
OCF growth 5Y-6.07%