Innergex Renewable Energy Inc (INE.CA) Fundamental Analysis & Valuation

TSX:INE • CA45790B1040

Current stock price

13.74 CAD
0 (0%)
Last:

This INE.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

5

1. INE.CA Profitability Analysis

1.1 Basic Checks

  • INE had positive earnings in the past year.
  • In the past year INE had a positive cash flow from operations.
  • INE had negative earnings in 4 of the past 5 years.
  • Each year in the past 5 years INE had a positive operating cash flow.
INE.CA Yearly Net Income VS EBIT VS OCF VS FCFINE.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 0 200M -200M 400M -400M -600M

1.2 Ratios

  • INE's Return On Assets of 0.42% is fine compared to the rest of the industry. INE outperforms 67.57% of its industry peers.
  • INE has a better Return On Equity (3.63%) than 70.27% of its industry peers.
  • The Return On Invested Capital of INE (2.80%) is better than 67.57% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for INE is in line with the industry average of 2.46%.
Industry RankSector Rank
ROA 0.42%
ROE 3.63%
ROIC 2.8%
ROA(3y)-0.69%
ROA(5y)-1.06%
ROE(3y)-5.1%
ROE(5y)-7.44%
ROIC(3y)2.87%
ROIC(5y)2.76%
INE.CA Yearly ROA, ROE, ROICINE.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 -10 -15

1.3 Margins

  • INE's Profit Margin of 3.69% is fine compared to the rest of the industry. INE outperforms 72.97% of its industry peers.
  • Looking at the Operating Margin, with a value of 31.18%, INE is in the better half of the industry, outperforming 70.27% of the companies in the same industry.
  • In the last couple of years the Operating Margin of INE has declined.
  • INE's Gross Margin of 77.74% is amongst the best of the industry. INE outperforms 86.49% of its industry peers.
  • INE's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 31.18%
PM (TTM) 3.69%
GM 77.74%
OM growth 3Y-4.88%
OM growth 5Y-4.19%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.99%
GM growth 5Y-1.16%
INE.CA Yearly Profit, Operating, Gross MarginsINE.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 60 80

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2

2. INE.CA Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so INE is destroying value.
  • The number of shares outstanding for INE has been reduced compared to 1 year ago.
  • The number of shares outstanding for INE has been increased compared to 5 years ago.
  • Compared to 1 year ago, INE has an improved debt to assets ratio.
INE.CA Yearly Shares OutstandingINE.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M
INE.CA Yearly Total Debt VS Total AssetsINE.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

2.2 Solvency

  • INE has an Altman-Z score of 0.12. This is a bad value and indicates that INE is not financially healthy and even has some risk of bankruptcy.
  • INE has a Altman-Z score (0.12) which is comparable to the rest of the industry.
  • A Debt/Equity ratio of 5.56 is on the high side and indicates that INE has dependencies on debt financing.
  • The Debt to Equity ratio of INE (5.56) is better than 62.16% of its industry peers.
Industry RankSector Rank
Debt/Equity 5.56
Debt/FCF N/A
Altman-Z 0.12
ROIC/WACC0.57
WACC4.93%
INE.CA Yearly LT Debt VS Equity VS FCFINE.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B

2.3 Liquidity

  • INE has a Current Ratio of 0.67. This is a bad value and indicates that INE is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Current ratio value of 0.67, INE perfoms like the industry average, outperforming 56.76% of the companies in the same industry.
  • A Quick Ratio of 0.67 indicates that INE may have some problems paying its short term obligations.
  • INE has a Quick ratio of 0.67. This is comparable to the rest of the industry: INE outperforms 59.46% of its industry peers.
Industry RankSector Rank
Current Ratio 0.67
Quick Ratio 0.67
INE.CA Yearly Current Assets VS Current LiabilitesINE.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. INE.CA Growth Analysis

3.1 Past

  • INE shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 600.00%, which is quite impressive.
  • The Revenue has been growing slightly by 0.97% in the past year.
  • The Revenue has been growing by 13.46% on average over the past years. This is quite good.
EPS 1Y (TTM)600%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%81.82%
Revenue 1Y (TTM)0.97%
Revenue growth 3Y11.91%
Revenue growth 5Y13.46%
Sales Q2Q%11.94%

3.2 Future

  • The Earnings Per Share is expected to decrease by -14.66% on average over the next years. This is quite bad
  • INE is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.53% yearly.
EPS Next Y-72.81%
EPS Next 2Y-45.82%
EPS Next 3Y-14.66%
EPS Next 5YN/A
Revenue Next Year16.37%
Revenue Next 2Y7.66%
Revenue Next 3Y4.53%
Revenue Next 5YN/A

3.3 Evolution

  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
INE.CA Yearly Revenue VS EstimatesINE.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M 800M 1B
INE.CA Yearly EPS VS EstimatesINE.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.1 -0.1 0.2 -0.2

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1

4. INE.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • INE is valuated quite expensively with a Price/Earnings ratio of 39.26.
  • Compared to the rest of the industry, the Price/Earnings ratio of INE indicates a somewhat cheap valuation: INE is cheaper than 70.27% of the companies listed in the same industry.
  • The average S&P500 Price/Earnings ratio is at 27.42. INE is valued slightly more expensive when compared to this.
  • The Forward Price/Earnings Ratio is negative for INE. No positive earnings are expected for the next year.
Industry RankSector Rank
PE 39.26
Fwd PE N/A
INE.CA Price Earnings VS Forward Price EarningsINE.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 -100 -200 -300 -400

4.2 Price Multiples

  • INE's Enterprise Value to EBITDA is on the same level as the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 12.8
INE.CA Per share dataINE.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4

4.3 Compensation for Growth

  • INE's earnings are expected to decrease with -14.66% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-45.82%
EPS Next 3Y-14.66%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

3

5. INE.CA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.62%, INE has a reasonable but not impressive dividend return.
  • INE's Dividend Yield is slightly below the industry average, which is at 3.47.
  • INE's Dividend Yield is a higher than the S&P500 average which is at 1.81.
Industry RankSector Rank
Dividend Yield 2.62%

5.2 History

  • The dividend of INE decreases each year by -7.77%.
  • INE has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-7.77%
Div Incr Years0
Div Non Decr Years0
INE.CA Yearly Dividends per shareINE.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6

5.3 Sustainability

  • INE pays out 198.45% of its income as dividend. This is not a sustainable payout ratio.
  • The Dividend Rate of INE has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP198.45%
EPS Next 2Y-45.82%
EPS Next 3Y-14.66%
INE.CA Yearly Income VS Free CF VS DividendINE.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M -400M -600M
INE.CA Dividend Payout.INE.CA Dividend Payout, showing the Payout Ratio.INE.CA Dividend Payout.PayoutRetained Earnings

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INE.CA Fundamentals: All Metrics, Ratios and Statistics

Innergex Renewable Energy Inc

TSX:INE (7/22/2025, 7:00:00 PM)

13.74

0 (0%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Earnings (Last)05-07
Earnings (Next)08-05
Inst Owners30.78%
Inst Owner ChangeN/A
Ins Owners0.73%
Ins Owner ChangeN/A
Market Cap2.79B
Revenue(TTM)1.08B
Net Income(TTM)39.73M
Analysts72
Price Target12.81 (-6.77%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.62%
Yearly Dividend0.47
Dividend Growth(5Y)-7.77%
DP198.45%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)788.82%
Min EPS beat(2)77.15%
Max EPS beat(2)1500.48%
EPS beat(4)3
Avg EPS beat(4)295.25%
Min EPS beat(4)-494.65%
Max EPS beat(4)1500.48%
EPS beat(8)3
Avg EPS beat(8)129.27%
EPS beat(12)3
Avg EPS beat(12)42.5%
EPS beat(16)5
Avg EPS beat(16)19.83%
Revenue beat(2)1
Avg Revenue beat(2)3.54%
Min Revenue beat(2)-4.25%
Max Revenue beat(2)11.33%
Revenue beat(4)1
Avg Revenue beat(4)-0.73%
Min Revenue beat(4)-6.27%
Max Revenue beat(4)11.33%
Revenue beat(8)3
Avg Revenue beat(8)0.91%
Revenue beat(12)4
Avg Revenue beat(12)-0.87%
Revenue beat(16)6
Avg Revenue beat(16)-1.03%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)2.44%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.16%
Valuation
Industry RankSector Rank
PE 39.26
Fwd PE N/A
P/S 2.59
P/FCF N/A
P/OCF 10
P/B 2.55
P/tB N/A
EV/EBITDA 12.8
EPS(TTM)0.35
EY2.55%
EPS(NY)-0.03
Fwd EYN/A
FCF(TTM)-0.71
FCFYN/A
OCF(TTM)1.37
OCFY10%
SpS5.3
BVpS5.39
TBVpS-0.92
PEG (NY)N/A
PEG (5Y)N/A
Graham Number0 (-100%)
Profitability
Industry RankSector Rank
ROA 0.42%
ROE 3.63%
ROCE 3.89%
ROIC 2.8%
ROICexc 2.86%
ROICexgc 3.37%
OM 31.18%
PM (TTM) 3.69%
GM 77.74%
FCFM N/A
ROA(3y)-0.69%
ROA(5y)-1.06%
ROE(3y)-5.1%
ROE(5y)-7.44%
ROIC(3y)2.87%
ROIC(5y)2.76%
ROICexc(3y)2.93%
ROICexc(5y)2.82%
ROICexgc(3y)3.54%
ROICexgc(5y)3.41%
ROCE(3y)3.99%
ROCE(5y)3.83%
ROICexgc growth 3Y-2.56%
ROICexgc growth 5Y0.85%
ROICexc growth 3Y-2.07%
ROICexc growth 5Y0.28%
OM growth 3Y-4.88%
OM growth 5Y-4.19%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.99%
GM growth 5Y-1.16%
F-Score6
Asset Turnover0.11
Health
Industry RankSector Rank
Debt/Equity 5.56
Debt/FCF N/A
Debt/EBITDA 8.42
Cap/Depr 109.01%
Cap/Sales 39.3%
Interest Coverage 1.22
Cash Conversion 38.57%
Profit Quality N/A
Current Ratio 0.67
Quick Ratio 0.67
Altman-Z 0.12
F-Score6
WACC4.93%
ROIC/WACC0.57
Cap/Depr(3y)112.83%
Cap/Depr(5y)132.7%
Cap/Sales(3y)39.91%
Cap/Sales(5y)47.57%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)600%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%81.82%
EPS Next Y-72.81%
EPS Next 2Y-45.82%
EPS Next 3Y-14.66%
EPS Next 5YN/A
Revenue 1Y (TTM)0.97%
Revenue growth 3Y11.91%
Revenue growth 5Y13.46%
Sales Q2Q%11.94%
Revenue Next Year16.37%
Revenue Next 2Y7.66%
Revenue Next 3Y4.53%
Revenue Next 5YN/A
EBIT growth 1Y-4.42%
EBIT growth 3Y6.45%
EBIT growth 5Y8.7%
EBIT Next Year183.34%
EBIT Next 3Y42.46%
EBIT Next 5YN/A
FCF growth 1Y-177.06%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-30.02%
OCF growth 3Y3.24%
OCF growth 5Y4%

Innergex Renewable Energy Inc / INE.CA Fundamental Analysis FAQ

What is the ChartMill fundamental rating of Innergex Renewable Energy Inc (INE.CA) stock?

ChartMill assigns a fundamental rating of 3 / 10 to INE.CA.


What is the valuation status of Innergex Renewable Energy Inc (INE.CA) stock?

ChartMill assigns a valuation rating of 1 / 10 to Innergex Renewable Energy Inc (INE.CA). This can be considered as Overvalued.


What is the profitability of INE stock?

Innergex Renewable Energy Inc (INE.CA) has a profitability rating of 5 / 10.


What is the valuation of Innergex Renewable Energy Inc based on its PE and PB ratios?

The Price/Earnings (PE) ratio for Innergex Renewable Energy Inc (INE.CA) is 39.26 and the Price/Book (PB) ratio is 2.55.


How sustainable is the dividend of Innergex Renewable Energy Inc (INE.CA) stock?

The dividend rating of Innergex Renewable Energy Inc (INE.CA) is 2 / 10 and the dividend payout ratio is 198.45%.