Boralex Balance Sheet Analysis

BLX Stock

CAD 27.57 0.58 2.15%

Most accounts from Boralex's balance sheet are interrelated and interconnected. However, analyzing balance sheet accounts one by one will only give a small insight into Boralex current financial condition. On the other hand, looking into the entire matrix of balance sheet accounts, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Boralex Valuation and Boralex Correlation analysis.

At this time, Boralex's Retained Earnings are very stable compared to the past year. As of the 25th of April 2024, Accounts Payable is likely to grow to about 40.1 M, while Common Stock Shares Outstanding is likely to drop about 54.3 M.

Net Receivables Accounts Payable

	2021	2022	2023	2024 (projected)
Short and Long Term Debt Total	3.9B	3.6B	4.1B	4.4B
Total Assets	5.8B	6.5B	6.6B	6.9B

Short Long Term Debt Total Total Assets

Boralex balance sheet Correlations

	Common Stock Shares Outstanding	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Total Equity	Non Current Liabilities Total	Inventory	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross	Total Current Assets	Common Stock	Other Current Assets	Short Term Debt	Intangible Assets
Common Stock Shares Outstanding		0.85	0.86	0.21	0.7	0.74	0.88	0.91	-0.47	0.69	0.58	0.86	0.62	0.64	0.78	0.85	0.89	0.46	-0.43	0.89	0.8	0.71	0.85	0.25	0.63	0.97
Total Assets	0.85		0.99	0.07	0.9	0.96	0.99	0.93	-0.18	0.55	0.87	1.0	0.66	0.89	0.98	0.99	0.98	0.66	-0.48	0.99	0.98	0.94	0.99	0.15	0.9	0.91
Short Long Term Debt Total	0.86	0.99		-0.01	0.84	0.9	1.0	0.96	-0.31	0.6	0.81	0.99	0.56	0.83	0.94	0.98	0.99	0.64	-0.5	1.0	0.95	0.89	0.98	0.17	0.87	0.92
Other Current Liab	0.21	0.07	-0.01		0.35	0.09	0.06	0.09	0.11	-0.12	-0.13	0.07	0.44	-0.08	0.1	-0.02	0.02	0.27	-0.17	0.07	0.03	0.07	-0.02	0.53	0.04	0.1
Total Current Liabilities	0.7	0.9	0.84	0.35		0.93	0.86	0.75	0.13	0.29	0.82	0.89	0.72	0.83	0.93	0.84	0.81	0.76	-0.44	0.86	0.89	0.93	0.84	0.31	0.94	0.75
Total Stockholder Equity	0.74	0.96	0.9	0.09	0.93		0.92	0.79	0.08	0.38	0.94	0.95	0.71	0.96	0.99	0.94	0.88	0.69	-0.38	0.91	0.97	0.97	0.94	0.04	0.93	0.81
Property Plant And Equipment Net	0.88	0.99	1.0	0.06	0.86	0.92		0.96	-0.3	0.61	0.81	1.0	0.62	0.84	0.95	0.98	0.99	0.63	-0.51	1.0	0.96	0.89	0.98	0.17	0.86	0.93
Net Debt	0.91	0.93	0.96	0.09	0.75	0.79	0.96		-0.5	0.69	0.63	0.94	0.57	0.68	0.84	0.92	0.98	0.55	-0.53	0.97	0.87	0.76	0.92	0.23	0.75	0.94
Retained Earnings	-0.47	-0.18	-0.31	0.11	0.13	0.08	-0.3	-0.5		-0.67	0.22	-0.21	0.11	0.16	-0.01	-0.25	-0.38	0.16	0.34	-0.31	-0.11	0.08	-0.25	-0.25	0.13	-0.42
Accounts Payable	0.69	0.55	0.6	-0.12	0.29	0.38	0.61	0.69	-0.67		0.36	0.57	0.29	0.42	0.4	0.59	0.66	-0.18	-0.26	0.62	0.52	0.4	0.59	0.19	0.24	0.75
Cash	0.58	0.87	0.81	-0.13	0.82	0.94	0.81	0.63	0.22	0.36		0.85	0.57	0.99	0.91	0.87	0.77	0.55	-0.23	0.8	0.9	0.95	0.87	-0.06	0.86	0.69
Non Current Assets Total	0.86	1.0	0.99	0.07	0.89	0.95	1.0	0.94	-0.21	0.57	0.85		0.66	0.88	0.97	0.99	0.98	0.65	-0.49	0.99	0.98	0.92	0.99	0.14	0.89	0.92
Non Currrent Assets Other	0.62	0.66	0.56	0.44	0.72	0.71	0.62	0.57	0.11	0.29	0.57	0.66		0.61	0.67	0.58	0.58	0.41	-0.26	0.61	0.7	0.6	0.58	0.01	0.64	0.68
Cash And Short Term Investments	0.64	0.89	0.83	-0.08	0.83	0.96	0.84	0.68	0.16	0.42	0.99	0.88	0.61		0.92	0.89	0.81	0.54	-0.23	0.83	0.92	0.95	0.89	-0.05	0.86	0.75
Net Receivables	0.78	0.98	0.94	0.1	0.93	0.99	0.95	0.84	-0.01	0.4	0.91	0.97	0.67	0.92		0.96	0.92	0.74	-0.42	0.94	0.97	0.96	0.96	0.08	0.93	0.83
Common Stock Total Equity	0.85	0.99	0.98	-0.02	0.84	0.94	0.98	0.92	-0.25	0.59	0.87	0.99	0.58	0.89	0.96		0.98	0.61	-0.46	0.98	0.97	0.92	1.0	0.12	0.86	0.91
Non Current Liabilities Total	0.89	0.98	0.99	0.02	0.81	0.88	0.99	0.98	-0.38	0.66	0.77	0.98	0.58	0.81	0.92	0.98		0.59	-0.51	1.0	0.94	0.86	0.98	0.18	0.82	0.94
Inventory	0.46	0.66	0.64	0.27	0.76	0.69	0.63	0.55	0.16	-0.18	0.55	0.65	0.41	0.54	0.74	0.61	0.59		-0.33	0.63	0.61	0.68	0.61	0.25	0.77	0.42
Other Stockholder Equity	-0.43	-0.48	-0.5	-0.17	-0.44	-0.38	-0.51	-0.53	0.34	-0.26	-0.23	-0.49	-0.26	-0.23	-0.42	-0.46	-0.51	-0.33		-0.51	-0.45	-0.35	-0.46	-0.25	-0.4	-0.44
Total Liab	0.89	0.99	1.0	0.07	0.86	0.91	1.0	0.97	-0.31	0.62	0.8	0.99	0.61	0.83	0.94	0.98	1.0	0.63	-0.51		0.96	0.89	0.98	0.2	0.86	0.94
Property Plant And Equipment Gross	0.8	0.98	0.95	0.03	0.89	0.97	0.96	0.87	-0.11	0.52	0.9	0.98	0.7	0.92	0.97	0.97	0.94	0.61	-0.45	0.96		0.94	0.97	0.08	0.89	0.88
Total Current Assets	0.71	0.94	0.89	0.07	0.93	0.97	0.89	0.76	0.08	0.4	0.95	0.92	0.6	0.95	0.96	0.92	0.86	0.68	-0.35	0.89	0.94		0.92	0.21	0.91	0.77
Common Stock	0.85	0.99	0.98	-0.02	0.84	0.94	0.98	0.92	-0.25	0.59	0.87	0.99	0.58	0.89	0.96	1.0	0.98	0.61	-0.46	0.98	0.97	0.92		0.12	0.86	0.91
Other Current Assets	0.25	0.15	0.17	0.53	0.31	0.04	0.17	0.23	-0.25	0.19	-0.06	0.14	0.01	-0.05	0.08	0.12	0.18	0.25	-0.25	0.2	0.08	0.21	0.12		0.1	0.16
Short Term Debt	0.63	0.9	0.87	0.04	0.94	0.93	0.86	0.75	0.13	0.24	0.86	0.89	0.64	0.86	0.93	0.86	0.82	0.77	-0.4	0.86	0.89	0.91	0.86	0.1		0.72
Intangible Assets	0.97	0.91	0.92	0.1	0.75	0.81	0.93	0.94	-0.42	0.75	0.69	0.92	0.68	0.75	0.83	0.91	0.94	0.42	-0.44	0.94	0.88	0.77	0.91	0.16	0.72

Click cells to compare fundamentals

Boralex Account Relationship Matchups

Boralex balance sheet Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	4.6B	5.3B	5.8B	6.5B	6.6B	6.9B
Other Current Liab	85M	10M	14M	330M	6M	5.7M
Net Debt	3.1B	3.5B	3.7B	3.2B	2.8B	2.9B
Retained Earnings	(233M)	(249M)	(299M)	174M	183M	192.2M
Accounts Payable	36M	161M	145M	57M	38M	40.1M
Cash	153M	275M	256M	361M	478M	501.9M
Net Receivables	153M	157M	148M	234M	236M	247.8M
Total Liab	3.7B	4.3B	4.5B	4.5B	4.6B	4.8B
Total Current Assets	363M	472M	460M	638M	771M	809.6M
Common Stock	984M	1.1B	1.3B	1.3B	1.5B	1.6B
Other Current Assets	25M	38M	50M	30M	35M	35.7M
Short Term Debt	183M	242M	236M	434M	499.1M	524.1M
Intangible Assets	700M	1.0B	1.1B	1.1B	986M	645.5M
Good Will	188M	222M	218M	233M	234M	162.7M
Other Liab	255M	308M	441M	503M	578.5M	607.4M
Net Tangible Assets	(28M)	(260M)	(364M)	389M	447.4M	469.7M
Other Assets	80M	84M	148M	369M	424.4M	445.6M
Long Term Debt	2.9B	3.3B	3.4B	2.9B	3.0B	2.6B
Short Long Term Debt	172M	229M	220M	416M	277M	245.3M
Long Term Debt Total	3.1B	3.5B	3.7B	3.2B	3.6B	3.0B

Pair Trading with Boralex

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Boralex position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Boralex will appreciate offsetting losses from the drop in the long position's value.

Moving together with Boralex Stock

0.67	ONEX	Onex Corp	Pair Corr
0.88	MGA	Mega Uranium	Pair Corr

Moving against Boralex Stock

0.89	CVE	Cenovus Energy Earnings Call This Week	Pair Corr
0.89	ARX	ARC Resources Earnings Call This Week	Pair Corr
0.86	SU	Suncor Energy	Pair Corr
0.86	L	Loblaw Companies Earnings Call This Week	Pair Corr
0.83	CNQ	Canadian Natural Res Earnings Call This Week	Pair Corr

The ability to find closely correlated positions to Boralex could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Boralex when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Boralex - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Boralex to buy it.

The correlation of Boralex is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Boralex moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Boralex moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Correlation analysis and pair trading evaluation for Boralex can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.

Pair Correlation Correlation Matching

Check out Boralex Valuation and Boralex Correlation analysis.

You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.

Complementary Tools for Boralex Stock analysis

When running Boralex's price analysis, check to measure Boralex's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Boralex is operating at the current time. Most of Boralex's value examination focuses on studying past and present price action to predict the probability of Boralex's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Boralex's price. Additionally, you may evaluate how the addition of Boralex to your portfolios can decrease your overall portfolio volatility.

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Please note, there is a significant difference between Boralex's value and its price as these two are different measures arrived at by different means. Investors typically determine if Boralex is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Boralex's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

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Boralex Balance Sheet Analysis

Boralex balance sheet Correlations

Boralex Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Boralex balance sheet Accounts

Pair Trading with Boralex

Moving together with Boralex Stock

Moving against Boralex Stock

Complementary Tools for Boralex Stock analysis

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Non Current Assets Total	+ 1.0	Total Assets
Property Plant And Equipment Net	+ 1.0	Short Long Term Debt Total
Total Liab	+ 1.0	Short Long Term Debt Total
Non Current Assets Total	+ 1.0	Property Plant And Equipment Net
Total Liab	+ 1.0	Property Plant And Equipment Net
Common Stock	+ 1.0	Common Stock Total Equity

Accounts Payable	- 0.67	Retained Earnings
Other Stockholder Equity	- 0.53	Net Debt
Total Liab	- 0.51	Other Stockholder Equity
Other Stockholder Equity	- 0.51	Non Current Liabilities Total
Other Stockholder Equity	- 0.51	Property Plant And Equipment Net
Retained Earnings	- 0.5	Net Debt