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BORALEX INC. |
Market Closed -
Other stock markets
|
|
5-day change | 1st Jan Change | |
| 31.97 CAD | -0.56% | +3.70% | -20.11% | |
| Dec. 01 | National Bank of Canada Details Takeaways From Meetings With Boralex, Northland Power Executives | MT |
| Nov. 29 | Canadian Currency | FA |
Valuation
| Fiscal Period : December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1 502 | 2 356 | 4 845 | 3 559 | 4 113 | 3 285 | - | - |
| Enterprise Value (EV) 1 | 4 756 | 2 356 | 8 177 | 7 212 | 7 359 | 6 322 | 6 637 | 6 933 |
| P/E ratio | -37,4x | -56,9x | 85,9x | 217x | 133x | 30,2x | 29,0x | 28,8x |
| Yield | 3,74% | 2,70% | 1,40% | 1,90% | 1,65% | 2,06% | 2,06% | 2,06% |
| Capitalization / Revenue | 3,19x | 4,18x | 7,83x | 5,30x | 5,03x | 3,50x | 3,76x | 3,36x |
| EV / Revenue | 10,1x | 4,18x | 13,2x | 10,7x | 9,00x | 6,73x | 7,59x | 7,09x |
| EV / EBITDA | 13,4x | 4,79x | 15,9x | 13,5x | 13,3x | 9,79x | 9,60x | 9,55x |
| EV / FCF | - | - | 37,7x | 36,8x | 46,9x | 16,1x | 16,0x | -41,0x |
| FCF Yield | - | - | 2,65% | 2,72% | 2,13% | 6,19% | 6,24% | -2,44% |
| Price to Book | - | - | 4,90x | 3,56x | 2,45x | 1,87x | 1,80x | 1,74x |
| Nbr of stocks (in thousands) | 89 167 | 96 328 | 102 554 | 102 619 | 102 763 | 102 766 | - | - |
| Reference price 2 | 16,8 | 24,5 | 47,2 | 34,7 | 40,0 | 32,0 | 32,0 | 32,0 |
| Announcement Date | 3/1/19 | 2/28/20 | 2/25/21 | 2/23/22 | 2/24/23 | - | - | - |
1CAD in Million2CAD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period : December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 471 | 564 | 619 | 671 | 818 | 939 | 875 | 978 |
| EBITDA 1 | 354 | 492 | 513 | 535 | 552 | 646 | 691 | 726 |
| EBIT 1 | 82,0 | 193 | 190 | 238 | 112 | 269 | 324 | 331 |
| Operating Margin | 17,4% | 34,2% | 30,7% | 35,5% | 13,7% | 28,6% | 37,0% | 33,8% |
| Earnings before Tax (EBT) 1 | -60,0 | -48,0 | 66,0 | 44,0 | 18,0 | 154 | 190 | 186 |
| Net income 1 | -36,0 | -39,0 | 55,0 | 17,0 | 30,0 | 108 | 106 | 114 |
| Net margin | -7,64% | -6,91% | 8,89% | 2,53% | 3,67% | 11,5% | 12,2% | 11,7% |
| EPS 2 | -0,45 | -0,43 | 0,55 | 0,16 | 0,30 | 1,06 | 1,10 | 1,11 |
| Free Cash Flow 1 | - | - | 217 | 196 | 157 | 392 | 414 | -169 |
| FCF margin | - | - | 35,1% | 29,2% | 19,2% | 41,7% | 47,4% | -17,3% |
| FCF Conversion (EBITDA) | - | - | 42,3% | 36,6% | 28,4% | 60,6% | 60,0% | - |
| FCF Conversion (Net income) | - | - | 395% | 1 153% | 523% | 361% | 389% | - |
| Dividend per Share 2 | 0,63 | 0,66 | 0,66 | 0,66 | 0,66 | 0,66 | 0,66 | 0,66 |
| Announcement Date | 3/1/19 | 2/28/20 | 2/25/21 | 2/23/22 | 2/24/23 | - | - | - |
1CAD in Million2CAD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period : December | 2021 Q2 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 147 | 126 | 192 | 227 | 168 | 101 | 322 | 298 | 210 | 171 | 264 |
| EBITDA 1 | 117 | 93,0 | 163 | 183 | 133 | 63,0 | 173 | 192 | 143 | 113 | 196 |
| EBIT 1 | 34,0 | 7,00 | 88,0 | 91,0 | 45,0 | -31,0 | 7,00 | 77,0 | 38,0 | 13,0 | 125 |
| Operating Margin | 23,1% | 5,56% | 45,8% | 40,1% | 26,8% | -30,7% | 2,17% | 25,8% | 18,1% | 7,60% | 47,4% |
| Earnings before Tax (EBT) 1 | -13,0 | -22,0 | 31,0 | 76,0 | 14,0 | -71,0 | -1,00 | 66,0 | 24,0 | -11,0 | 84,0 |
| Net income 1 | -13,0 | -22,0 | 17,0 | 50,0 | 10,0 | -44,0 | 14,0 | 43,0 | 19,0 | -3,00 | 54,7 |
| Net margin | -8,84% | -17,5% | 8,85% | 22,0% | 5,95% | -43,6% | 4,35% | 14,4% | 9,05% | -1,75% | 20,7% |
| EPS 2 | -0,13 | -0,20 | 0,17 | 0,49 | 0,10 | -0,44 | 0,14 | 0,41 | 0,19 | -0,03 | 0,43 |
| Dividend per Share 2 | 0,17 | 0,17 | 0,17 | 0,17 | 0,17 | 0,17 | 0,17 | 0,17 | 0,17 | 0,17 | 0,17 |
| Announcement Date | 8/6/21 | 11/12/21 | 2/23/22 | 5/11/22 | 8/3/22 | 11/9/22 | 2/24/23 | 5/10/23 | 8/14/23 | 11/9/23 | - |
1CAD in Million2CAD
Estimates
Balance Sheet Analysis
| Fiscal Period : December | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3 254 | - | 3 332 | 3 653 | 3 246 | 3 037 | 3 352 | 3 648 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 9,19x | - | 6,50x | 6,83x | 5,88x | 4,70x | 4,85x | 5,03x |
| Free Cash Flow 1 | - | - | 217 | 196 | 157 | 392 | 414 | -169 |
| ROE (net income / shareholders' equity) | - | - | 6,65% | 1,71% | 5,19% | 5,00% | 5,43% | 7,20% |
| Shareholders' equity 1 | - | - | 827 | 995 | 578 | 2 167 | 1 959 | 1 584 |
| ROA (Net income/ Total Assets) | - | - | - | - | 1,13% | 2,30% | 2,20% | 1,50% |
| Assets 1 | - | - | - | - | 2 650 | 4 710 | 4 838 | 7 603 |
| Book Value Per Share 2 | - | - | 9,64 | 9,75 | 16,4 | 17,1 | 17,8 | 18,3 |
| Cash Flow per Share 2 | 2,40 | 3,42 | 3,43 | 3,53 | 3,92 | 3,43 | 4,54 | 4,74 |
| Capex 1 | 282 | 159 | 145 | 167 | 246 | 270 | 747 | 618 |
| Capex / Sales | 59,9% | 28,2% | 23,4% | 24,9% | 30,1% | 28,7% | 85,5% | 63,1% |
| Announcement Date | 3/1/19 | 2/28/20 | 2/25/21 | 2/23/22 | 2/24/23 | - | - | - |
1CAD in Million2CAD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating :
Investor Rating :
ESG Refinitiv :
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
31.97CAD
Average target price
38CAD
Spread / Average Target
+18.86%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -20.11% | 2 417 M $ | |
| -21.77% | 17 706 M $ | |
| -41.19% | 15 845 M $ | |
| -25.32% | 2 575 M $ | |
| -23.45% | 1 977 M $ | |
| -43.64% | 1 372 M $ | |
| -16.40% | 1 349 M $ | |
| -17.13% | 1 185 M $ | |
| -6.77% | 1 135 M $ | |
| +11.80% | 466 M $ |
- Stock
- Equities
- Stock Boralex Inc. - Toronto Stock Exchange
- Financials Boralex Inc.
