Boralex Inc (BLX) - Net Assets
Based on the latest financial reports, Boralex Inc (BLX) has net assets worth CA$1.96 Billion CAD (≈ $1.42 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$7.64 Billion ≈ $5.53 Billion USD) and total liabilities (CA$5.68 Billion ≈ $4.11 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how resilient are Boralex Inc's assets to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$1.96 Billion |
| % of Total Assets | 25.61% |
| Annual Growth Rate | 15.88% |
| 5-Year Change | 104.34% |
| 10-Year Change | 266.39% |
| Growth Volatility | 31.3 |
Boralex Inc - Net Assets Trend (1999–2024)
This chart illustrates how Boralex Inc's net assets have evolved over time, based on quarterly financial data. Also explore Boralex Inc (BLX) total assets for the complete picture of this company's asset base.
Annual Net Assets for Boralex Inc (1999–2024)
The table below shows the annual net assets of Boralex Inc from 1999 to 2024. For live valuation and market cap data, see Boralex Inc market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CA$2.02 Billion ≈ $1.46 Billion |
+0.05% |
| 2023-12-31 | CA$2.02 Billion ≈ $1.46 Billion |
-0.10% |
| 2022-12-31 | CA$2.03 Billion ≈ $1.47 Billion |
+67.30% |
| 2021-12-31 | CA$1.21 Billion ≈ $876.02 Million |
+22.20% |
| 2020-12-31 | CA$991.00 Million ≈ $716.87 Million |
+13.26% |
| 2019-12-31 | CA$875.00 Million ≈ $632.96 Million |
-2.89% |
| 2018-12-31 | CA$901.00 Million ≈ $651.77 Million |
+23.59% |
| 2017-12-31 | CA$729.00 Million ≈ $527.35 Million |
+41.83% |
| 2016-12-31 | CA$514.00 Million ≈ $371.82 Million |
-7.00% |
| 2015-12-31 | CA$552.70 Million ≈ $399.81 Million |
+64.34% |
| 2014-12-31 | CA$336.32 Million ≈ $243.29 Million |
-12.90% |
| 2013-12-31 | CA$386.13 Million ≈ $279.32 Million |
+12.78% |
| 2012-12-31 | CA$342.37 Million ≈ $247.66 Million |
+4.10% |
| 2011-12-31 | CA$328.88 Million ≈ $237.91 Million |
-12.23% |
| 2010-12-31 | CA$374.70 Million ≈ $271.05 Million |
+7.96% |
| 2009-12-31 | CA$347.06 Million ≈ $251.06 Million |
-4.62% |
| 2008-12-31 | CA$363.89 Million ≈ $263.23 Million |
+27.51% |
| 2007-12-31 | CA$285.38 Million ≈ $206.44 Million |
+54.82% |
| 2006-12-31 | CA$184.33 Million ≈ $133.34 Million |
+10.88% |
| 2005-12-31 | CA$166.25 Million ≈ $120.26 Million |
+9.25% |
| 2004-12-31 | CA$152.17 Million ≈ $110.08 Million |
-8.13% |
| 2003-12-31 | CA$165.63 Million ≈ $119.81 Million |
-13.94% |
| 2002-12-31 | CA$192.45 Million ≈ $139.22 Million |
+48.24% |
| 2001-12-31 | CA$129.83 Million ≈ $93.92 Million |
+121.50% |
| 2000-12-31 | CA$58.61 Million ≈ $42.40 Million |
+15.37% |
| 1999-12-31 | CA$50.80 Million ≈ $36.75 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Boralex Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2768.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$151.00 Million | 9.43% |
| Common Stock | CA$1.32 Billion | 82.64% |
| Other Comprehensive Income | CA$115.00 Million | 7.18% |
| Other Components | CA$12.00 Million | 0.75% |
| Total Equity | CA$1.60 Billion | 100.00% |
Boralex Inc Competitors by Market Cap
The table below lists competitors of Boralex Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Exxaro Resources Ltd
JSE:EXX
|
$2.74 Billion |
|
Zibo Qixiang Tengda Chemical Co Ltd
SHE:002408
|
$2.74 Billion |
|
Piramal Enterprises Limited
NSE:PEL
|
$2.74 Billion |
|
Yipinhong Pharmaceutical Co Ltd Class A
SHE:300723
|
$2.74 Billion |
|
Gerdau S.A
SA:GGBR3
|
$2.74 Billion |
|
Union Bank of Taiwan
TW:2838
|
$2.74 Billion |
|
Remitly Global Inc
NASDAQ:RELY
|
$2.73 Billion |
|
Emerald Resources NL
AU:EMR
|
$2.73 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Boralex Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,629,000,000 to 1,601,000,000, a change of -28,000,000 (-1.7%).
- Net income of 36,000,000 contributed positively to equity growth.
- Dividend payments of 68,000,000 reduced retained earnings.
- Other comprehensive income increased equity by 3,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$36.00 Million | +2.25% |
| Dividends Paid | CA$68.00 Million | -4.25% |
| Other Comprehensive Income | CA$3.00 Million | +0.19% |
| Other Changes | CA$1.00 Million | +0.06% |
| Total Change | CA$- | -1.72% |
Book Value vs Market Value Analysis
This analysis compares Boralex Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.37x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 14.88x to 2.37x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1999-12-31 | CA$2.48 | CA$36.88 | x |
| 2000-12-31 | CA$2.85 | CA$36.88 | x |
| 2001-12-31 | CA$5.31 | CA$36.88 | x |
| 2002-12-31 | CA$6.07 | CA$36.88 | x |
| 2003-12-31 | CA$5.51 | CA$36.88 | x |
| 2004-12-31 | CA$5.04 | CA$36.88 | x |
| 2005-12-31 | CA$5.51 | CA$36.88 | x |
| 2006-12-31 | CA$5.99 | CA$36.88 | x |
| 2007-12-31 | CA$8.19 | CA$36.88 | x |
| 2008-12-31 | CA$9.54 | CA$36.88 | x |
| 2009-12-31 | CA$8.99 | CA$36.88 | x |
| 2010-12-31 | CA$9.69 | CA$36.88 | x |
| 2011-12-31 | CA$8.51 | CA$36.88 | x |
| 2012-12-31 | CA$8.48 | CA$36.88 | x |
| 2013-12-31 | CA$9.44 | CA$36.88 | x |
| 2014-12-31 | CA$7.92 | CA$36.88 | x |
| 2015-12-31 | CA$10.40 | CA$36.88 | x |
| 2016-12-31 | CA$7.61 | CA$36.88 | x |
| 2017-12-31 | CA$9.05 | CA$36.88 | x |
| 2018-12-31 | CA$10.86 | CA$36.88 | x |
| 2019-12-31 | CA$9.49 | CA$36.88 | x |
| 2020-12-31 | CA$10.02 | CA$36.88 | x |
| 2021-12-31 | CA$9.74 | CA$36.88 | x |
| 2022-12-31 | CA$16.35 | CA$36.88 | x |
| 2023-12-31 | CA$15.84 | CA$36.88 | x |
| 2024-12-31 | CA$15.58 | CA$36.88 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Boralex Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 2.25%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.22%
- • Asset Turnover: 0.11x
- • Equity Multiplier: 4.75x
- Recent ROE (2.25%) is below the historical average (4.04%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1999 | 10.91% | 0.00% | -0.04x | 4.88x | CA$435.60K |
| 2000 | 12.00% | 0.00% | -0.05x | 4.46x | CA$1.10 Million |
| 2001 | 6.10% | 0.00% | -0.03x | 2.74x | CA$-5.04 Million |
| 2002 | 29.15% | 0.00% | -0.02x | 1.52x | CA$35.08 Million |
| 2003 | -3.46% | -8.91% | 0.25x | 1.53x | CA$-22.20 Million |
| 2004 | -0.55% | -1.14% | 0.27x | 1.82x | CA$-15.94 Million |
| 2005 | 12.76% | 15.56% | 0.32x | 2.60x | CA$4.57 Million |
| 2006 | 8.18% | 0.00% | -0.03x | 2.61x | CA$-3.34 Million |
| 2007 | 7.57% | 0.00% | -0.03x | 1.81x | CA$-6.93 Million |
| 2008 | 5.62% | 0.00% | -0.02x | 1.72x | CA$-15.91 Million |
| 2009 | 7.19% | 0.00% | -0.02x | 1.95x | CA$-9.56 Million |
| 2010 | 6.31% | 0.00% | -0.02x | 3.37x | CA$-13.48 Million |
| 2011 | 0.90% | 1.48% | 0.17x | 3.66x | CA$-29.29 Million |
| 2012 | -1.60% | -2.78% | 0.15x | 3.84x | CA$-37.10 Million |
| 2013 | -1.08% | -2.23% | 0.12x | 3.99x | CA$-39.48 Million |
| 2014 | -3.88% | -6.03% | 0.10x | 6.33x | CA$-42.09 Million |
| 2015 | -2.02% | -4.11% | 0.11x | 4.48x | CA$-65.47 Million |
| 2016 | -0.40% | -0.66% | 0.11x | 5.45x | CA$-51.60 Million |
| 2017 | 3.21% | 5.25% | 0.11x | 5.73x | CA$-46.50 Million |
| 2018 | -3.45% | -6.26% | 0.10x | 5.46x | CA$-117.00 Million |
| 2019 | -4.53% | -6.79% | 0.13x | 5.30x | CA$-125.00 Million |
| 2020 | 5.56% | 8.69% | 0.12x | 5.37x | CA$-43.90 Million |
| 2021 | 1.70% | 2.46% | 0.12x | 5.75x | CA$-83.10 Million |
| 2022 | 1.78% | 3.59% | 0.13x | 3.89x | CA$-138.10 Million |
| 2023 | 4.79% | 7.63% | 0.16x | 4.04x | CA$-84.90 Million |
| 2024 | 2.25% | 4.22% | 0.11x | 4.75x | CA$-124.10 Million |
Industry Comparison
This section compares Boralex Inc's net assets metrics with peer companies in the Utilities - Renewable industry.
Industry Context
- Industry: Utilities - Renewable
- Average net assets among peers: $5,324,925,501
- Average return on equity (ROE) among peers: 4.42%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Boralex Inc (BLX) | CA$1.96 Billion | 10.91% | 2.90x | $2.74 Billion |
| Brookfield Renewable Partners L.P (BEP-UN) | $36.46 Billion | -0.60% | 1.60x | $10.04 Billion |
| Greenbriar Capital Corp (GRB) | $5.61 Million | 57.56% | 0.68x | $13.30 Million |
| Innergex Renewable Energy Inc. (INE) | $562.23 Million | -9.76% | 3.83x | $2.01 Billion |
| Northland Power Inc. (NPI) | $227.35 Million | 8.43% | 0.43x | $4.39 Billion |
| Polaris Infrastructure Inc (PIF) | $-262.67K | 0.00% | 0.00x | $193.99 Million |
| RE Royalties Ltd (RE) | $17.09 Million | -10.60% | 2.16x | $10.98 Million |
| Synex International Inc. (SXI) | $6.47 Million | -14.07% | 2.08x | $8.66 Million |
About Boralex Inc
Boralex Inc., together with its subsidiaries, engages in the developing, building, and operating power generating and storage facilities in Canada, France, and the United States. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2024, the company operates 103 wind farms; 13 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with … Read more