Boralex Inc. Class A

Boralex Inc. Class A

37.24
CAD
+0.01
(+0.03%)
0.01EPS
3.76BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
4.56
5.1
5.12
4.63
5.55
5.98
6.34
6.42
6.73
8.14
9.94
8.3
8.26
8.74
Basic EPS, GAAP
-0.1
-0.31
-0.21
-0.03
0.29
-0.37
-0.43
0.56
0.17
0.29
0.76
0.35
0.07
-0.31
Free Cash Flow per Basic Share
-1.53
-3.21
-4.12
-1.64
-1.67
-1.3
1.29
2.09
1.62
2.42
1.99
-2.31
-2.84
-1.52
Dividend per Share
- -
0.52
0.52
0.55
0.61
0.62
0.66
0.67
0.66
0.66
0.66
0.66
0.66
0.66
Book Value per Share
9.44
7.89
8.41
7.59
8.98
9.82
8.92
9.64
9.75
16.36
15.85
15.58
15.01
14.82
Tangible Book Value per Share
1.31
-3.27
-0.2
-0.83
-1.99
-1.31
-0.29
-2.53
-3.55
3.79
3.98
3.9
3.36
3.24
Basic Weighted Avg Shares
38
38
52
65
75
80
91
99
103
103
103
103
103
103
Sales/Revenue/Turnover
172
195
268
302
419
479
574
633
691
836
1,022
853
849
898
Operating Margin (%)
26.99
23.93
23.88
22.19
23.39
17.12
25.26
28.28
26.92
23.56
24.07
27.08
21.55
22.72
Depreciation Expense
54
60
97
116
172
208
244
237
297
295
293
297
321
335
Net Income, GAAP
-4
-12
-11
-2
22
-30
-39
55
17
30
78
36
7
-32
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
7.58
40.91
55.56
25.32
32.73
10.81
- -
Profit Margin (%)
-2.23
-6.03
-4.1
-0.66
5.25
-6.26
-6.79
8.69
2.46
3.59
7.63
4.22
0.82
-3.56
Working Capital
35
-108
-79
-63
-104
-142
59
69
65
-183
56
-42
146
141
LT Debt
808
1,222
1,409
1,574
2,555
2,997
3,092
3,530
3,673
3,173
3,322
3,935
4,404
4,447
Total Equity
386
336
559
514
729
907
875
991
1,211
2,026
2,024
2,025
1,991
1,986
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
3.57
2.18
0.92
2.99
2.54
2.28
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
3.32
1.63
1.93
2.36
1.34
1.82
- -
Return on Common Equity (%)
-1.13
-3.57
-2.59
-0.38
3.73
-3.84
-4.49
5.95
1.71
2.24
4.71
2.23
0.45
-2.05

Capital Structure

CAD

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
268
255
274
LT Borrowings
4,036
4,080
4,127
LT Finance Leases
330
324
320
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
103
103
103
Market Capitalization
2,792
2,603
3,765

Working Capital

CAD

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
683
656
726
Cash, Cash Equivalents & STI
288
293
376
Accounts Receivable, Net
188
245
249
Inventories
- -
- -
- -
Total Current Liabilities
542
510
585
Payables & Accruals
271
242
289
ST Debt
268
255
274
Deferred Revenue
- -
- -
- -

Growth Rates

CAD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
15.57%
17.55%
-1.68%
Free Cash Flow
-36.71%
-36.09%
23.21%
Net Income, GAAP
-169.62%
6.59%
-80.56%
Sales/Revenue/Turnover
13.12%
7.08%
-0.47%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
268
189
159
237
853
2025
237
197
157
258
849
2026
286
- -
- -
- -
- -

Quarterly Earnings Per Share

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.54
0.11
-0.14
-0.16
0.35
2025
0.29
-0.1
-0.26
0.14
0.07
2026
-0.09
- -
- -
- -
- -

Quarterly Dividends Per Share

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.17
0.17
0.17
0.17
0.66
2025
0.17
0.17
0.17
0.17
0.66
2026
0.17
- -
- -
- -
- -

Company Description

CEO
Patrick Decostre
Full Time Employees
854
Sector
Utilities
Industry
Electric utilities
Address
36, rue Lajeunesse Kingsey Falls QC Canada J0A 1B0
IPO Date
Dec 24, 1984
Business
Boralex Inc. is an international renewable energy producer specializing in the development, ownership, and operation of power generation assets primarily in wind, solar, hydroelectric, and energy storage sectors. Founded in 1982 and headquartered in Montreal, Canada, Boralex operates extensively across Canada, the Northeastern United States, and France. The company’s core products include electricity generated from more than 3,400 MW of installed capacity across wind farms, solar power facilities, hydroelectric stations, and energy storage solutions. Boralex serves electricity markets with long-term power purchase agreements and merchant power sales while targeting wind, solar, and storage projects for organic growth and strategic acquisitions. In recent years, Boralex has executed major strategic expansions including a C$6.8 billion investment plan announced in 2025 to more than double its installed capacity by 2030, focusing on growth in the U.S. market and diversification into solar and energy storage markets. It acquired a 50% interest in five wind farms totaling 894 MW in the Texas and New Mexico markets, enabling entry into the ERCOT and Southwest Power Pool areas, and secured two large 450 MW solar contracts in New York State. These moves align with its updated 2025 strategic plan emphasizing accelerated growth, diversification, and customer expansion, alongside a commitment to corporate social responsibility and net-zero emissions by 2050. Boralex’s leadership in sustainability was recognized in 2025 when it was named Canada’s most responsible company by Corporate Knights. Boralex’s product portfolio includes wind power plants, solar photovoltaic facilities, hydroelectric power stations, and innovative energy storage projects in its core markets. The company prides itself on end-to-end project origination, development, construction, and operational expertise, maintaining a balanced portfolio with long-term contracts and merchant market exposure. Its ongoing projects pipeline totals around 8 GW in development and construction, highlighting its continued commitment to expanding renewable energy capacity and optimizing capital structure with sustainable financing. Boralex shares trade on the Toronto Stock Exchange under ticker BLX.

Company News

  • Boralex Obtains Final Court Approval of the Arrangement with Brookfield and La Caisse

  • Boralex Announces Shareholder Approval of the Arrangement with Brookfield and La Caisse

  • Both Leading Independent Proxy Advisors Recommend Boralex Shareholders Vote FOR Arrangement

  • Boralex reports higher operating income and the addition of new growth projects in the first quarter of 2026

  • 2 Green Energy Stocks to Buy in 2026

  • Boralex Agrees to $2.76 Billion Takeover by Brookfield and Caisse de Depot

  • Boralex Enters into Definitive Agreement to be Acquired by Brookfield, alongside La Caisse, Supporting its Next Phase of Growth as a Standalone Private Company

  • Boralex Responds to Recent Statements in the Media

  • Boralex Inc. (BLX:CA) Q4 2025 Earnings Call Transcript

  • Boralex Announces the Appointment of Philippe Bonin as Chief Financial Officer

  • Boralex reports net earnings of $33 million for fiscal 2025 marked by the commissioning of large-scale projects in Canada and the United Kingdom

  • Boralex and Six Nations of the Grand River Development Corporation Commission Canada's Largest Operating Battery Storage Facility

  • REMINDER: Boralex will release its 2025 fourth quarter financial results on February 27, at 11 a.m.

  • Boralex: Underfollowed Renewable Energy Company Trading At A Discount

  • Boralex (OTCMKTS:BRLXF) Trading 0.6% Higher – Time to Buy?

  • Boralex Commissions Sanjgon Energy Storage Project, Initially Tilbury, Its First Operational Storage Facility in North America

  • United Kingdom: Boralex Welcomes Ministerial Approval of 189 MW Clashindarroch Wind Farm Extension

  • Boralex annonce la nomination de Jean-Christophe Dall’Ava au poste de premier vice-président et directeur général, Europe

  • Boralex announces the appointment of Jean-Christophe Dall'Ava as Executive Vice President and General Manager, Europe

  • Boralex Inc. (BLX:CA) Q3 2025 Earnings Call Transcript