Innergex Renewable Energy Inc (INE.CA) Fundamental Analysis & Valuation
TSX:INE • CA45790B1040
13.74 CAD
0 (0%)
Last: Jul 22, 2025, 07:00 PM
This INE.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
We assign a fundamental rating of 3 out of 10 to INE. INE was compared to 32 industry peers in the Independent Power and Renewable Electricity Producers industry. INE has a medium profitability rating, but doesn't score so well on its financial health evaluation. INE is valied quite expensively at the moment, while it does show a decent growth rate.
1. INE.CA Profitability Analysis
1.1 Basic Checks
- In the past year INE was profitable.
- In the past year INE had a positive cash flow from operations.
- In the past 5 years INE reported 4 times negative net income.
- Each year in the past 5 years INE had a positive operating cash flow.
1.2 Ratios
- With a decent Return On Assets value of 0.42%, INE is doing good in the industry, outperforming 67.57% of the companies in the same industry.
- INE's Return On Equity of 3.63% is fine compared to the rest of the industry. INE outperforms 70.27% of its industry peers.
- Looking at the Return On Invested Capital, with a value of 2.80%, INE is in the better half of the industry, outperforming 67.57% of the companies in the same industry.
- The Average Return On Invested Capital over the past 3 years for INE is in line with the industry average of 3.78%.
| Industry Rank | Sector 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%
1.3 Margins
- Looking at the Profit Margin, with a value of 3.69%, INE is in the better half of the industry, outperforming 72.97% of the companies in the same industry.
- 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 Rank | Sector 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%
2. INE.CA Health Analysis
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), INE is destroying value.
- INE has less shares outstanding than it did 1 year ago.
- INE has more shares outstanding than it did 5 years ago.
- The debt/assets ratio for INE has been reduced compared to a year ago.
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.
- Looking at the Altman-Z score, with a value of 0.12, INE is in line with its industry, outperforming 59.46% of the companies in the same industry.
- INE has a Debt/Equity ratio of 5.56. This is a high value indicating a heavy dependency on external financing.
- INE has a better Debt to Equity ratio (5.56) than 62.16% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.56 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.12 |
ROIC/WACC0.57
WACC4.93%
2.3 Liquidity
- A Current Ratio of 0.67 indicates that INE may have some problems paying its short term obligations.
- INE has a Current ratio (0.67) which is comparable to the rest of the industry.
- INE has a Quick 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.
- INE has a Quick ratio (0.67) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.67 | ||
| Quick Ratio | 0.67 |
3. INE.CA Growth Analysis
3.1 Past
- The Earnings Per Share has grown by an impressive 600.00% over the past year.
- INE shows a small growth in Revenue. In the last year, the Revenue has grown by 0.97%.
- 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
- Based on estimates for the next years, INE will show a very negative growth in Earnings Per Share. The EPS will decrease by -14.66% on average per year.
- 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.
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.
- Compared to an average S&P500 Price/Earnings ratio of 26.83, INE is valued a bit more expensive.
- INE is expected to report negative earnings next year, which makes the Forward Price/Earnings Ratio negative.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 39.26 | ||
| Fwd PE | N/A |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of INE is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 12.8 |
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%
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.
- Compared to an average industry Dividend Yield of 3.44, INE is paying slightly less dividend.
- Compared to an average S&P500 Dividend Yield of 1.82, INE pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector 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
5.3 Sustainability
- 198.45% of the earnings are spent on dividend by INE. 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 Fundamentals: All Metrics, Ratios and Statistics
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 2025-05-07/amc
Earnings (Next)08-05 2025-08-05/amc
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 Rank | Sector 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 Rank | Sector 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 NumberN/A
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 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.
Can you provide the profitability details for Innergex Renewable Energy Inc?
Innergex Renewable Energy Inc (INE.CA) has a profitability rating of 5 / 10.
Can you provide the PE and PB ratios for INE stock?
The Price/Earnings (PE) ratio for Innergex Renewable Energy Inc (INE.CA) is 39.26 and the Price/Book (PB) ratio is 2.55.
What is the expected EPS growth for Innergex Renewable Energy Inc (INE.CA) stock?
The Earnings per Share (EPS) of Innergex Renewable Energy Inc (INE.CA) is expected to decline by -72.81% in the next year.