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Boralex Valuation Multiples

Discover revenue and EBITDA valuation multiples for Boralex and similar public comparables like AGL Energy, Dana Gas, and ADNOC Drilling Company.

Boralex Overview

About Boralex

Boralex is a power producer whose core business is dedicated to the development and operation of renewable energy power stations in Canada, France, the United States and the United Kingdom. Boralex owns power generation assets across four technologies: wind, solar, hydroelectric, and thermal. Substantially all of its operating assets are subject to indexed fixed-price energy sales contracts.


Founded

1982

HQ

Canada
Employees

822

Website

boralex.com

Financials

LTM Revenue $598M

LTM EBITDA $477M

EV

$4.7B

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Boralex Financials

Boralex has a last 12-month revenue of $598M and a last 12-month EBITDA of $477M.

In the most recent fiscal year, Boralex achieved revenue of $597M and an EBITDA of $374M.

Boralex expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Boralex P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $715M $597M XXX XXX XXX
Gross Profit n/a n/a XXX XXX XXX
Gross Margin NaN% NaN% XXX XXX XXX
EBITDA $399M $374M XXX XXX XXX
EBITDA Margin 56% 63% XXX XXX XXX
Net Profit $21.0M $54.6M XXX XXX XXX
Net Margin 3% 9% XXX XXX XXX
Net Debt $2.0B $2.0B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Boralex Stock Performance

As of April 15, 2025, Boralex's stock price is CAD 29 (or $20).

Boralex has current market cap of CAD 3.0B (or $2.1B), and EV of CAD 6.7B (or $4.7B).

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Boralex Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$4.7B $2.1B XXX XXX XXX XXX $0.36

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Boralex Valuation Multiples

As of April 15, 2025, Boralex has market cap of $2.1B and EV of $4.7B.

Boralex's trades at 7.8x LTM EV/Revenue multiple, and 9.8x LTM EBITDA.

Analysts estimate Boralex's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Boralex Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $4.7B XXX XXX XXX
EV/Revenue 7.9x XXX XXX XXX
EV/EBITDA 12.5x XXX XXX XXX
P/E 83.1x XXX XXX XXX
P/E/Growth 0.9x XXX XXX XXX
EV/FCF -28.3x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Boralex Valuation Multiples

Boralex's NTM/LTM revenue growth is 15%

Boralex's revenue per employee for the last fiscal year averaged $0.7M, while opex per employee averaged $0.5M for the same period.

Over next 12 months, Boralex's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Boralex's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Boralex Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -17% XXX XXX XXX XXX
EBITDA Margin 63% XXX XXX XXX XXX
EBITDA Growth -6% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 78% XXX XXX XXX XXX
Revenue per Employee $0.7M XXX XXX XXX XXX
Opex per Employee $0.5M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue 9% XXX XXX XXX XXX
R&D Expenses to Revenue 7% XXX XXX XXX XXX
Opex to Revenue 74% XXX XXX XXX XXX

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Boralex Public Comps

See public comps and valuation multiples for Energy Exploration & Generation and Wind comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
ADNOC Drilling Company XXX XXX XXX XXX XXX XXX
ADNOC Gas XXX XXX XXX XXX XXX XXX
Dana Gas XXX XXX XXX XXX XXX XXX
TAQA XXX XXX XXX XXX XXX XXX
AGL Energy XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Boralex M&A and Investment Activity

Boralex acquired  XXX companies to date.

Last acquisition by Boralex was  XXXXXXXX, XXXXX XXXXX XXXXXX . Boralex acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Boralex

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Boralex

When was Boralex founded? Boralex was founded in 1982.
Where is Boralex headquartered? Boralex is headquartered in Canada.
How many employees does Boralex have? As of today, Boralex has 822 employees.
Who is the CEO of Boralex? Boralex's CEO is Mr. Patrick Decostre.
Is Boralex publicy listed? Yes, Boralex is a public company listed on TSE.
What is the stock symbol of Boralex? Boralex trades under BLX ticker.
When did Boralex go public? Boralex went public in 1999.
Who are competitors of Boralex? Similar companies to Boralex include e.g. ADNOC Drilling Company, ADNOC Gas, Dana Gas, TAQA.
What is the current market cap of Boralex? Boralex's current market cap is $2.1B
What is the current revenue of Boralex? Boralex's last 12-month revenue is $598M.
What is the current EBITDA of Boralex? Boralex's last 12-month EBITDA is $477M.
What is the current EV/Revenue multiple of Boralex? Current revenue multiple of Boralex is 7.8x.
What is the current EV/EBITDA multiple of Boralex? Current EBITDA multiple of Boralex is 9.8x.
What is the current revenue growth of Boralex? Boralex revenue growth between 2023 and 2024 was -17%.
Is Boralex profitable? Yes, Boralex is EBITDA-positive (as of the last 12 months).

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