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  2. •

    Utilities

  3. •

    Renewable Utilities
Innergex Renewable Energy Inc.

Innergex Renewable Energy Inc.

INE.TO
Innergex Renewable Energy Inc.CA flagToronto Stock Exchange
13.74
CAD
- -
- -
2.77BMarket Cap
Innergex Renewable Energy Inc.
INE.TO
(Toronto Stock Exchange)

Recent

price

13.74

P/E

ratio

- -

div

yld

- -

ROIC.AI

2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
TTM
FRC
1.37
1.65
1.96
2.04
2.09
2.46
2.41
2.74
3.69
3.7
4.14
3.6
4.13
4.31
4.76
4.7
4.75
Revenue per Share
0.61
-1.24
-0.59
-0.03
0.43
-0.63
-0.37
0.28
0.22
0.19
-0.25
-0.23
-1.09
-0.43
-0.51
0.05
0.2
Basic EPS, GAAP
0.76
-0.56
-1.84
-1.48
0.2
-1.2
-3.13
-2.57
0.52
0.41
-4.51
-1.66
-0.13
1.53
-1.91
-0.71
-0.74
Free Cash Flow per Basic Share
0.68
0.31
0.6
0.58
0.46
0.56
0.6
0.66
0.66
0.63
0.72
0.7
0.73
0.74
0.74
0.48
0.39
Dividend per Share
- -
-3.29
-3.66
-2.43
-3.53
-4.11
-4.49
-4.1
-5.95
-5.72
-5.81
-6.11
-5.6
-7.91
-8.66
-8.79
-8.96
Book Value per Share
1.44
0.92
-0.51
0.18
-0.22
-1.28
-1.37
-1.86
-3.42
-1.95
-2
-0.33
0.3
-0.47
-2.01
0.15
0.1
Tangible Book Value per Share
43
56
76
87
95
98
102
107
108
130
135
170
181
202
204
202
202
Basic Weighted Avg Shares
59
91
148
177
198
242
247
293
400
481
557
613
747
870
970
952
961
Sales/Revenue/Turnover
43.24
38.44
40.62
39.64
40.23
43.61
43.85
42.93
42.3
41.89
56.41
42.15
48.35
36.04
35.08
33.52
36.03
Operating Margin (%)
21
33
51
64
69
74
75
90
129
151
195
229
256
336
361
381
388
Depreciation Expense
26
-69
-41
1
48
-55
-30
36
29
31
-28
-33
-192
-82
-98
16
45
Net Income, GAAP
8.17
- -
- -
490.07
31.47
- -
- -
13.35
27.06
50.96
180.56
- -
- -
- -
- -
- -
28.26
Effective Tax Rate (%)
44.76
-75.11
-27.35
0.8
24.3
-22.68
-12.27
12.28
7.36
6.47
-5.03
-5.32
-25.67
-9.38
-10.15
1.67
4.72
Profit Margin (%)
-1
14
51
81
19
-17
212
32
-25
-413
-336
-584
-345
-124
-48
-337
-307
Working Capital
222
429
1,086
1,246
1,394
1,691
2,254
2,602
3,140
4,262
4,398
4,214
4,564
5,645
6,307
6,250
6,094
LT Debt
189
359
579
688
666
562
472
485
453
942
615
1,071
1,361
1,486
1,205
1,519
1,481
Total Equity
5.9
- -
- -
-14.81
2.67
- -
- -
3.65
3.58
2.11
-4.56
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
20.99
- -
- -
-19.54
7.2
- -
- -
5.46
5.56
3.58
-4.65
- -
- -
- -
- -
- -
14.36
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'24
Dec'24
Mar'25
ST Debt
686
611
560
LT Borrowings
5,728
5,958
6,094
LT Finance Leases
- -
292
- -
Preferred Equity and Hybrid Capital
131
131
131
Shares Outstanding
202
202
202
Market Capitalization
2,099
1,633
2,736

Working Capital

FRC

•

in mil. unless spec.
Sep'24
Dec'24
Mar'25
Total Current Assets
552
580
629
Cash, Cash Equivalents & STI
186
181
181
Accounts Receivable, Net
265
148
232
Inventories
- -
- -
- -
Total Current Liabilities
983
917
936
Payables & Accruals
296
275
375
ST Debt
686
611
560
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
17.08%
23.49%
26%
Free Cash Flow
-304.15%
-367.47%
-63.01%
Net Income, GAAP
-11.46%
70.25%
-116.14%
Sales/Revenue/Turnover
15.14%
11.61%
-1.8%
Total Cash Common Dividend
8.21%
2.69%
-37.04%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
197
252
277
244
970
2024
222
240
244
246
952
2025
231
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
-0.08
0.1
0.04
- -
-0.51
2024
-0.21
0.09
0.03
- -
0.05
2025
-0.07
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
0.19
0.18
0.18
- -
0.74
2024
0.18
0.1
0.1
- -
0.48
2025
0.1
- -
- -
- -
- -
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Business
Innergex Renewable Energy Inc. functions as a leading developer, owner, and operator of renewable power generation assets across Canada, the United States, France, and Chile. Specializing in run-of-river hydroelectric, wind, and solar facilities, the company also actively integrates and manages energy storage solutions. Its operational framework is segmented into hydroelectric power generation, wind power generation, and solar power generation, alongside a focus on site development and management. As of May 2025, Innergex manages an extensive portfolio comprising 91 operating facilities, contributing to an aggregate net installed capacity of approximately 3,948 megawatts, with a gross capacity of about 4,901 megawatts. This includes a diverse array of hydroelectric plants, wind farms, solar sites, and battery energy storage facilities. Furthermore, the company holds interests in 16 projects currently under various stages of development, with five actively under construction, representing a net installed capacity of 915 megawatts and a robust pipeline of prospective projects totaling over 10 gigawatts. A significant recent development occurred in July 2025, when the Caisse de dépôt et placement du Québec (CDPQ), a global investment group, finalized its acquisition of Innergex. This transaction, valued at $10 billion, transitioned Innergex from a publicly traded entity to a privately held company. This strategic shift is set to provide enhanced stability, long-term capital access, and a focused vision for accelerating growth in the renewable energy sector. Innergex Renewable Energy Inc. was established in 1990 and maintains its headquarters in Longueuil, Canada.