Boralex Inc. (TSX:BLX)

Boralex Balance Sheet

Financials in millions CAD. Fiscal year is January - December.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	375	292	592	478	361	256
Short-Term Investments	1	-	-	-	-	-
Trading Asset Securities	8	1	-	-	-	-
Accounts Receivable	249	245	264	236	234	148
Restricted Cash	15	51	19	22	13	3
Loans Receivable Current	31	31	-	-	-	-
Other Current Assets	47	36	48	35	30	53
Total Current Assets	726	656	923	771	638	460
Property, Plant & Equipment	4,679	4,664	4,446	3,725	3,675	3,634
Goodwill	245	246	237	234	233	218
Other Intangible Assets	945	951	963	986	1,059	1,147
Long-Term Investments	835	834	755	721	827	169
Other Long-Term Assets	315	297	280	137	107	123
Total Assets	7,745	7,648	7,604	6,574	6,539	5,751

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts Payable	289	138	200	22	57	45
Accrued Expenses	-	-	-	324	279	69
Short-Term Debt	18	-	5	6	12	-
Current Portion of Long-Term Debt	233	232	339	271	404	223
Current Portion of Leases	23	23	22	20	18	16
Other Current Liabilities	22	117	399	72	51	42
Total Current Liabilities	585	510	965	715	821	395
Long-Term Debt	4,134	4,090	3,638	3,004	2,873	3,414
Long-Term Leases	320	324	318	327	300	290
Long-Term Deferred Tax Liabilities	242	246	256	260	267	174
Other Long-Term Liabilities	478	487	402	244	252	267
Total Liabilities	5,759	5,657	5,579	4,550	4,513	4,540

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common Stock	1,323	1,323	1,323	1,323	1,323	1,320
Additional Paid-In Capital	9	13	12	11	10	9
Retained Earnings	64	90	151	183	174	-299
Comprehensive Income & Other	127	116	115	112	174	-29
Total Common Equity	1,523	1,542	1,601	1,629	1,681	1,001
Minority Interest	463	449	424	395	345	210
Shareholders' Equity	1,986	1,991	2,025	2,024	2,026	1,211
Total Liabilities & Equity	7,745	7,648	7,604	6,574	6,539	5,751

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	4,728	4,669	4,322	3,628	3,607	3,943
Net Cash (Debt)	-4,344	-4,376	-3,730	-3,150	-3,246	-3,687
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-42.27	-42.57	-36.28	-30.64	-31.58	-35.87
Filing Date Shares Outstanding	102.76	102.76	102.77	102.77	102.76	102.62
Total Common Shares Outstanding	102.76	102.76	102.77	102.77	102.76	102.62
Working Capital	141	146	-42	56	-183	65
Book Value Per Share	14.82	15.01	15.58	15.85	16.36	9.75
Tangible Book Value	333	345	401	409	389	-364
Tangible Book Value Per Share	3.24	3.36	3.90	3.98	3.79	-3.55
Machinery	-	5,722	4,967	4,694	4,679	4,398
Construction In Progress	-	568	814	157	-	-

Data Source: S&P Global Market Intelligence Last updated: Mar 31, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 14, 2026

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