INNERGEX RENEWABLE ENERGY (INE.CA) Stock Fundamental Analysis
TSX:INE - Toronto Stock Exchange - CA45790B1040 - Common Stock - Currency: CAD
Taking everything into account, INE scores 3 out of 10 in our fundamental rating. INE was compared to 37 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 quite expensive at the moment. It does show a decent growth rate.
1. Profitability
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.
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.
The Return On Equity of INE (3.63%) is better than 70.27% of its industry peers.
With a decent Return On Invested Capital value of 2.80%, INE is doing good in the industry, outperforming 67.57% of the companies in the same industry.
INE had an Average Return On Invested Capital over the past 3 years of 2.87%. This is below the industry average of 5.07%.
| 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
INE's Profit Margin of 3.69% is fine compared to the rest of the industry. INE outperforms 72.97% of its industry peers.
INE's Operating Margin of 31.18% is fine compared to the rest of the industry. INE outperforms 70.27% of its industry peers.
In the last couple of years the Operating Margin of INE has declined.
Looking at the Gross Margin, with a value of 77.74%, INE belongs to the top of the industry, outperforming 83.78% of the companies in the same industry.
In the last couple of years the Gross Margin of INE has remained more or less at the same level.
| 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. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), 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.
The debt/assets ratio for INE has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.12, we must say that INE is in the distress zone and has some risk of bankruptcy.
INE has a Altman-Z score (0.12) which is comparable to the rest of the 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 Debt to Equity ratio of 5.56. This is in the better half of the industry: INE outperforms 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
WACC4.92%
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.
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 better Quick ratio (0.67) than 62.16% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.67 | ||
| Quick Ratio | 0.67 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 600.00% over the past year.
Looking at the last year, INE shows a small growth in Revenue. The Revenue has grown by 0.97% in the last 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
INE is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -14.66% yearly.
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
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 39.23, which means the current valuation is very expensive for INE.
70.27% of the companies in the same industry are more expensive than INE, based on the Price/Earnings ratio.
INE's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 27.48.
The Forward Price/Earnings Ratio is negative for INE. No positive earnings are expected for the next year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 39.23 | ||
| Fwd PE | N/A |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as INE.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 12.8 |
4.3 Compensation for Growth
A cheap valuation may be justified as INE's earnings are expected to decrease with -14.66% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-45.82%
EPS Next 3Y-14.66%
5. Dividend
5.1 Amount
INE has a Yearly Dividend Yield of 2.62%.
With a Dividend Yield of 2.62, INE pays less dividend than the industry average, which is at 5.45. 81.08% of the companies listed in the same industry pay a better dividend than INE!
INE's Dividend Yield is comparable with the S&P500 average which is at 2.34.
| 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
INE pays out 198.45% of its income as dividend. This is not a sustainable payout ratio.
INE's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP198.45%
EPS Next 2Y-45.82%
EPS Next 3Y-14.66%
TSX:INE (7/17/2025, 7:00:00 PM)
13.73
-0.01 (-0.07%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Earnings (Last)
Earnings (Next)
Inst Owners30.78%
Inst Owner ChangeN/A
Ins Owners0.73%
Ins Owner ChangeN/A
Market Cap2.79B
Analysts72
Price Target12.81 (-6.7%)
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-Date
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)0.44%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)1850%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)2.44%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.57%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 39.23 | ||
| 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
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%
ROICexcg growth 3Y-2.56%
ROICexcg 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
WACC4.92%
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%