Boralex Inc
TSX:BLX

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Boralex Inc Logo
Boralex Inc
TSX:BLX
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Price: 33.47 CAD 2.04%
Market Cap: 3.4B CAD
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Intrinsic Value

The intrinsic value of one BLX stock under the Base Case scenario is 45.61 CAD. Compared to the current market price of 33.47 CAD, Boralex Inc is Undervalued by 27%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

BLX Intrinsic Value
45.61 CAD
Undervaluation 27%
Intrinsic Value
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Boralex Inc

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
Boralex Inc

Current Assets 836m
Cash & Short-Term Investments 609m
Receivables 171m
Other Current Assets 56m
Non-Current Assets 6B
Long-Term Investments 797m
PP&E 3.8B
Intangibles 1.2B
Other Non-Current Assets 248m
Current Liabilities 875m
Accounts Payable 505m
Short-Term Debt 16m
Other Current Liabilities 354m
Non-Current Liabilities 4.3B
Long-Term Debt 3.3B
Other Non-Current Liabilities 945m
Efficiency

Earnings Waterfall
Boralex Inc

Revenue
959m CAD
Cost of Revenue
-275m CAD
Gross Profit
684m CAD
Operating Expenses
-410m CAD
Operating Income
274m CAD
Other Expenses
-192m CAD
Net Income
82m CAD

Free Cash Flow Analysis
Boralex Inc

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

Boralex reported strong financial performance in Q2 2024, with EBITDA up 11%, operating income up 21%, and net earnings up 41%. However, production was 8% lower than expected due to unfavorable weather and curtailments in France. The company has 851 MW of projects in various stages, including those in Quebec and Scotland, moving towards completion by year's end. Market conditions remain positive with high demand for renewable energy, promising investment opportunities in Quebec and Ontario, and an increased budget allocation for onshore wind in the U.K. The clean energy tax credit in Canada and strategic optimization of electricity selling prices positively impacted finances.

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Fundamental Scores

BLX Profitability Score
Profitability Due Diligence

Boralex Inc's profitability score is 55/100. The higher the profitability score, the more profitable the company is.

Positive Free Cash Flow
Positive Gross Profit
Positive Operating Income
Positive 3-Years Revenue Growth
55/100
Profitability
Score

Boralex Inc's profitability score is 55/100. The higher the profitability score, the more profitable the company is.

BLX Solvency Score
Solvency Due Diligence

Boralex Inc's solvency score is 26/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Short-Term Solvency
Average D/E
Positive Net Debt
26/100
Solvency
Score

Boralex Inc's solvency score is 26/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

BLX Price Targets Summary
Boralex Inc

Wall Street analysts forecast BLX stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for BLX is 42.94 CAD with a low forecast of 32.32 CAD and a high forecast of 49.35 CAD.

Lowest
Price Target
32.32 CAD
3% Downside
Average
Price Target
42.94 CAD
28% Upside
Highest
Price Target
49.35 CAD
47% Upside
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Dividends

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N/A
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Shareholder Yield

Current shareholder yield for BLX is .

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Profile

Boralex Inc Logo
Boralex Inc

Country

Canada

Industry

Utilities

Market Cap

3.4B CAD

Dividend Yield

2.54%

Description

Boralex, Inc. engages in the developing and building renewable energy power facilities. The company is headquartered in Kingsey Falls, Quebec and currently employs 562 full-time employees. The firm's segments include wind, solar, hydroelectricity and storage. The company operates under the power generation industry sector. The firm has interests in approximately 90 wind farms, 16 hydroelectric power stations and approximately 12 solar power stations, which is representing an asset base with an installed capacity totaling 2,458 megawatts (MW). In addition, Boralex has projects under development, representing an additional 154 MW of power and a portfolio of secured projects amounting to 493 MW. The firm is developing a portfolio of more than three GW of wind and solar projects and approximately 200 MW of storage projects. The firm also operates two hydroelectric power stations on behalf of R.S.P. Energie Inc.

Contact

QUEBEC
Kingsey Falls
36 Rue Lajeunesse
+15142849890.0
www.boralex.com

IPO

1984-12-24

Employees

562

Officers

President, CEO & Director
Mr. Patrick Decostre
CFO & EVP
Mr. Bruno Guilmette
Executive VP & Chief Legal Officer
Mr. Pascal Hurtubise
Executive VP & GM of North America
Mr. Hugues Girardin
Executive VP & GM of Europe
Mr. Nicolas Wolff
Vice President of Investors Relations
Mr. Stéphane Milot
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Senior Vice President of Marketing, Public Affairs & Corporate Communications
Ms. Isabelle Fontaine
Executive VP and Chief People & Culture Officer
Ms. Marie-Josée Arsenault
Senior Vice President of Development of North America
Adam Rosso
Senior Vice President of Asset Management of North America
Mr. Alain Pouliot
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See Also

Discover More
What is the Intrinsic Value of one BLX stock?

The intrinsic value of one BLX stock under the Base Case scenario is 45.61 CAD.

Is BLX stock undervalued or overvalued?

Compared to the current market price of 33.47 CAD, Boralex Inc is Undervalued by 27%.

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