Stock INE INNERGEX RENEWABLE ENERGY INC.
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Financials Innergex Renewable Energy Inc.

Equities

INE

CA45790B1040

Electric Utilities

Market Closed - Toronto S.E.
Other stock markets
 21:00:00 26/04/2024 BST 		5-day change 1st Jan Change
7.94 CAD -0.38% Intraday chart for Innergex Renewable Energy Inc. -1.00% -13.60%
04-15 Innergex Renewable Energy, RCM of Lotbiniere, Abenaki Councils of Odanak And Wolinak Reach 30-Year Power Purchase Agreement With Hydro-Quebec MT
04-10 News Highlights : Top Energy News of the Day - Wednesday at 11 AM ET DJ

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,350 4,778 3,586 3,307 1,878 1,616 - -
Enterprise Value (EV) 1 6,890 9,437 8,349 8,909 7,751 8,365 8,160 8,244
P/E ratio -67.4 x -119 x -17.1 x -37.7 x -18 x -37.8 x 132 x -18.9 x
Yield 4.15% 2.63% 3.87% 4.44% 7.83% 4.53% 4.53% 4.53%
Capitalization / Revenue 4.22 x 7.79 x 4.8 x 3.8 x 1.94 x 1.52 x 1.4 x 1.44 x
EV / Revenue 12.4 x 15.4 x 11.2 x 10.2 x 7.99 x 7.89 x 7.07 x 7.34 x
EV / EBITDA 16.8 x 22.4 x 15.9 x 15.2 x 11.3 x 11.4 x 9.8 x 10.5 x
EV / FCF 73.8 x 101 x 77.2 x 27.4 x -21.4 x 56.2 x 41.7 x -
FCF Yield 1.35% 0.99% 1.29% 3.65% -4.67% 1.78% 2.4% -
Price to Book 3.89 x 4.74 x 3.28 x 2.51 x 1.72 x 1.83 x 1.98 x 2.13 x
Nbr of stocks (in thousands) 139,406 174,581 192,805 204,133 204,321 203,580 - -
Reference price 2 16.86 27.37 18.60 16.20 9.190 7.940 7.940 7.940
Announcement Date 27/02/20 25/02/21 24/02/22 22/02/23 21/02/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 557 613.2 747.2 870.5 969.9 1,061 1,154 1,123
EBITDA 1 409.2 422.1 525.6 584.9 687.7 733.7 832.3 788.5
EBIT 1 214.6 193.6 270 248.9 326.5 358.4 435.4 -
Operating Margin 38.52% 31.57% 36.13% 28.59% 33.66% 33.8% 37.74% -
Earnings before Tax (EBT) 1 65.82 -10.21 -211.6 -64.88 -152.7 -83 5.5 -51
Net income 1 -33.98 -32.63 -191.8 -81.62 -98.45 -37.67 19.45 -42.5
Net margin -6.1% -5.32% -25.67% -9.38% -10.15% -3.55% 1.69% -3.78%
EPS 2 -0.2500 -0.2300 -1.090 -0.4300 -0.5100 -0.2100 0.0600 -0.4200
Free Cash Flow 1 93.31 93.26 108.1 325.6 -362.3 148.8 195.7 -
FCF margin 16.75% 15.21% 14.47% 37.4% -37.36% 14.03% 16.96% -
FCF Conversion (EBITDA) 22.8% 22.09% 20.57% 55.66% - 20.29% 23.51% -
FCF Conversion (Net income) - - - - - - 1,006% -
Dividend per Share 2 0.7000 0.7200 0.7200 0.7200 0.7200 0.3600 0.3600 0.3600
Announcement Date 27/02/20 25/02/21 24/02/22 22/02/23 21/02/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 184.6 202.4 188.7 219.7 258.4 203.6 218.3 269.5 277.1 243.5 242.4 283.6 271.5 270
EBITDA 1 122.5 137.3 130.5 152.9 181.2 120.4 145.1 187 180.2 175.4 163.3 201.5 192.8 179.1
EBIT 1 62.68 59.56 50.3 73.76 98.2 26.6 65.54 93.32 99.78 87.49 72.35 113 97.95 75.7
Operating Margin 33.96% 29.43% 26.65% 33.57% 38.01% 13.06% 30.02% 34.62% 36.01% 35.93% 29.85% 39.82% 36.08% 28.04%
Earnings before Tax (EBT) 1 -1.723 42.9 -38.7 -23.24 29.8 -39.59 -24.18 27.52 -2.005 -154.1 -36 7.5 -5 -18
Net income 1 -23.46 -2.348 -34.4 -25.18 20.98 -45.3 -13.04 20.74 9.085 -113.9 -31.9 -1.8 -3.5 -9.733
Net margin -12.71% -1.16% -18.23% -11.46% 8.12% -22.25% -5.97% 7.69% 3.28% -46.79% -13.16% -0.63% -1.29% -3.61%
EPS 2 -0.1000 - -0.1800 -0.1300 0.1100 -0.2300 -0.0800 0.0900 0.0400 - -0.0800 0.0100 0.0600 0.0800
Dividend per Share 2 0.1800 0.1800 0.1800 0.1800 0.1800 0.1800 0.1800 0.1800 0.1800 0.1800 0.0900 0.0900 0.0900 0.0900
Announcement Date 09/11/21 24/02/22 10/05/22 03/08/22 07/11/22 22/02/23 09/05/23 08/08/23 08/11/23 21/02/24 - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 4,539 4,659 4,763 5,602 5,873 6,748 6,544 6,628
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 11.09 x 11.04 x 9.061 x 9.577 x 8.54 x 9.198 x 7.862 x 8.405 x
Free Cash Flow 1 93.3 93.3 108 326 -362 149 196 -
ROE (net income / shareholders' equity) -4.29% -4.05% - -2.89% - -1.9% 2% 1%
ROA (Net income/ Total Assets) -0.41% - - -0.44% - - - -
Assets 1 8,289 - - 18,729 - - - -
Book Value Per Share 2 4.340 5.780 5.680 6.470 5.340 4.350 4.020 3.730
Cash Flow per Share 2 1.520 1.430 1.590 2.200 1.630 1.510 1.640 1.850
Capex 1 856 551 289 119 694 628 232 138
Capex / Sales 153.75% 89.81% 38.7% 13.69% 71.51% 59.19% 20.11% 12.29%
Announcement Date 27/02/20 25/02/21 24/02/22 22/02/23 21/02/24 - - -
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

Ratings for Innergex Renewable Energy Inc.

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
7.94 CAD
Average target price
11 CAD
Spread / Average Target
+38.54%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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