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Renewable Energy
(TSX:PIF)
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Rating:60Neutral
Price Target:
C$14.00
▼(-5.72% Downside)
Action:Reiterated
Date:08/26/26
The score is anchored by solid cash-flow strength and generally sound operating profitability, but is held back by volatile net income and softening revenue trends. Weak near-term technical momentum is a significant drag, while valuation is mixed (high P/E but strong dividend yield). The renewed buyback program provides a modest positive support.
Positive Factors
Strong Cash Generation
Consistently positive operating and free cash flow indicates that the business converts operations into internally generated funding. Higher TTM free cash flow supports financial flexibility, helps fund investment or distributions, and provides resilience even while reported net income remains uneven.
Negative Factors
Softening Revenue Trend
Revenue declines in 2024 and TTM indicate that demand or business activity has not maintained the earlier growth trajectory. Continued top-line softness could limit operating leverage, reduce reinvestment capacity, and make sustained profit growth more dependent on cost control.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Cash Generation
Consistently positive operating and free cash flow indicates that the business converts operations into internally generated funding. Higher TTM free cash flow supports financial flexibility, helps fund investment or distributions, and provides resilience even while reported net income remains uneven.
Read all positive factors
Renewable Energy (PIF) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$282.68M
Dividend Yield6.14%
Average Volume (3M)20.28K
Price to Earnings (P/E)49.5
Beta (1Y)0.54
Revenue Growth-1.18%
EPS GrowthN/A
CountryCA
Employees215
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)0.20
Shares Outstanding20,892,618
10 Day Avg. Volume25,104
30 Day Avg. Volume20,282
Financial Highlights & Ratios
PEG Ratio0.34
Price to Book (P/B)0.75
Price to Sales (P/S)2.21
P/FCF Ratio5.38
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.05
Revenue Forecast (FY)C$76.47M
Renewable Energy Business Overview & Revenue Model
Company Description
Polaris Renewable Energy Inc., a company established in 1984 and headquartered in Toronto, Canada, focuses on the acquisition, development, and operation of sustainable power generation projects across Latin America. Its operational portfolio incl...
Renewable Energy Earnings Call Summary
Earnings Call Date:Feb 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call conveyed a constructive and proactive tone: Polaris delivered measurable operational and financial progress in 2025 (6% production growth, +3% adjusted EBITDA), maintained dividends and a strong cash position, and has a growing, diversified development pipeline (Puerto Rico RFP, ASAP progress, Mexico exclusivity ~1,000 MW). Key near-term challenges — most notably curtailments in the Dominican Republic, a modest production decline expected due to scheduled maintenance and curtailment, and prior approval delays at PREPA (now largely resolved) — add execution and timing risk but appear manageable. Management emphasized balance sheet strength, disciplined capital allocation, and multiple avenues for growth, which leaves the overall tone positive with risks being monitored and mitigated.Positive Updates
Consolidated Energy Production Growth
Full year 2025 consolidated energy production of 810,731 MWh versus 764,756 MWh in 2024, representing a 6% year-over-year increase driven by new assets and strong hydrology.
Negative Updates
Curtailment and Grid Constraints in the Dominican Republic
Curtailments materially impacted generation: 3,500 MWh in the quarter and 5,900 MWh for the year (management noted ~6,000 MWh last year). Company is conservatively budgeting ~10,000 MWh curtailment for the coming year until storage solutions are deployed, reducing short-term producible energy and revenue.
Read all updates
Q4-2025 Updates
Positive
Negative
Consolidated Energy Production Growth
Full year 2025 consolidated energy production of 810,731 MWh versus 764,756 MWh in 2024, representing a 6% year-over-year increase driven by new assets and strong hydrology.
Read all positive updates
Company Guidance
Management guided consolidated 2026 production (on a no‑acquisition basis) of about 775–790 GWh (775,000–790,000 MWh), assuming a conservative ~10,000 MWh of curtailment this year (versus ~6,000 MWh the prior year and company‑reported curtailments of 3,500 MWh in Q4 / 5,900 MWh for 2025); for context, 2025 production was 810,731 MWh (+6% YoY vs. 764,756 MWh). They reiterated financial strength with adjusted EBITDA of $56.5M (+3% YoY), consolidated cash of $93.2M, a quarterly dividend of $0.15 per share payable Feb 27 (record Feb 17), ~$105M returned to shareholders over 10 years, and NCIB repurchases of 169,800 shares (~$1.5M) in 2025 (80,000 shares for ~$0.8M in Q4). On growth, Punta Lima (26 MW) contributed 42,056 MWh in 2025, the company has exclusivity on ~1,000 MW in Mexico, expects PPA tenors of ~15–25 years with ~70/30 energy/capacity economics and 30% storage (3‑hour) coverage, sees target IRRs in the mid‑teens (roughly 12–16%, ~14% typical), anticipates construction timelines of ~12–15 months, and flagged the ASAP project (PREPA approval pending) as the likely near‑term CapEx with other projects 12–24 months behind.Renewable Energy Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
58
Neutral
Cash Flow
76
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 77.48M | 81.89M | 75.77M | 78.52M | 62.60M | 59.52M |
| Gross Profit | 30.09M | 34.56M | 32.81M | 35.92M | 25.19M | 22.75M |
| EBITDA | 55.48M | 60.56M | 49.84M | 54.87M | 40.90M | 45.69M |
| Net Income | 4.14M | ― | 2.99M | 11.74M | 2.50M | 501.00K |
Balance Sheet | ||||||
| Total Assets | 527.23M | 534.59M | 662.11M | 519.40M | 535.10M | 502.70M |
| Cash, Cash Equivalents and Short-Term Investments | 94.07M | 88.46M | 213.31M | 40.05M | 35.33M | 97.93M |
| Total Debt | 219.00M | 219.87M | 317.70M | 175.12M | 187.33M | 170.99M |
| Total Liabilities | 292.42M | 292.16M | 402.58M | 249.47M | 264.89M | 241.88M |
| Stockholders Equity | 234.96M | 242.72M | 259.75M | 269.34M | 269.68M | 262.76M |
Cash Flow | ||||||
| Free Cash Flow | 31.04M | 33.61M | 31.69M | 32.57M | 1.02M | 32.72M |
| Operating Cash Flow | 31.95M | 34.39M | 35.05M | 43.96M | 33.51M | 41.13M |
| Investing Cash Flow | -6.64M | -20.57M | -3.31M | -11.38M | -65.99M | -10.15M |
| Financing Cash Flow | -17.36M | -140.80M | 141.51M | -27.71M | -30.13M | 6.89M |
Renewable Energy Technical Analysis
Positive
14.85
Price Trends
13.96
Negative
14.48
Negative
13.29
Positive
Market Momentum
-0.05
Negative
50.97
Neutral
70.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PIF, the sentiment is Positive. The current price of 14.85 is above the 20-day moving average (MA) of 13.59, above the 50-day MA of 13.96, and above the 200-day MA of 13.29, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 50.97 is Neutral, neither overbought nor oversold. The STOCH value of 70.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:PIF.
Renewable Energy Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
60 Neutral | C$282.68M | 49.50 | 1.73% | 6.14% | -1.18% | ― | |
60 Neutral | C$5.66B | -39.36 | -3.46% | 3.51% | 15.39% | -180.64% | |
54 Neutral | C$727.43M | 6,221.87 | 0.20% | ― | 23.90% | ― | |
51 Neutral | C$27.38B | 62.28 | 2.64% | 5.34% | 5.92% | 52.60% | |
49 Neutral | C$5.87B | 29.99 | 3.20% | 4.72% | 5.62% | ― |
* Utilities Sector Average
TSE:PIF
Renewable Energy
13.53
1.31
10.75%
TSE:BEP.UN
Brookfield Renewable Partners
40.02
-0.72
-1.77%
TSE:AQN
Algonquin Power & Utilities
7.63
0.15
1.95%
TSE:NPI
Northland Power
21.65
-3.05
-12.34%
TSE:LCFS
Tidewater Renewables Ltd.
19.91
15.90
396.51%
Renewable Energy Corporate Events
Business Operations and StrategyFinancial Disclosures
Polaris Advances Puerto Rico Battery Storage with Trina Supply Deal
Positive
Oct 20, 2026
Polaris Renewable Energy has awarded a key supply contract to Trina Energy Storage Solutions for battery energy storage systems at its Punta Lima project in Puerto Rico, advancing its role in utility-scale storage under the island’s Accelera...
Business Operations and StrategyFinancial Disclosures
Polaris Renewable Energy Sets Date for Q3 2026 Earnings Call
Neutral
Oct 14, 2026
Polaris Renewable Energy Inc., a Canadian-listed renewable power producer, operates a diversified portfolio of geothermal, hydroelectric, solar, and onshore wind assets across Latin America and the Caribbean. With installed capacity spread across ...
Business Operations and StrategyStock Buyback
Polaris Renewable Energy Renews Share Buyback Program on TSX
Positive
Aug 25, 2026
Polaris Renewable Energy has received Toronto Stock Exchange approval to renew its normal course issuer bid, authorizing purchases of up to 2,021,205 common shares, or about 10% of its public float, between August 27, 2026 and August 26, 2027, tho...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.