Companies: 10,795·Total market cap: $144.5T
Boralex Inc.

Boralex Inc.

BLX.TOTSXUtilities● Active
$36.82
$-0.03(-0.07%)
Market Cap$3.8B
P/E Ratio—
52W High$37.05
52W Low$23.48
Free Cash FlowFinancialsRevenue

Boralex Inc. (BLX.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

BLX.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

Free cash flow was −$249.0M for FY2025 (fiscal year ending 2025-12-31), down 5.1% year-over-year The FCF margin was -29.3%.

FY2025 Free Cash Flow−$249.0M▼ -5.1% YoY
Trailing 12M (TTM)−$105.0Mtrailing 4 quarters sum
FCF Margin-29.3%−$249.0M ÷ revenue
3-Year CAGRN/AN/A — contains negative FCF
5-Year CAGRN/AN/A — contains negative FCF
FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0
Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

Positive FCFNegative FCF
Free Cash Flow
YoY Growth %
blx.to free cash flow history · blx.to free cash flow chart · blx.to free cash flow growth rate · blx.to free cash flow last 10 years

Annual free cash flow data

Fiscal YearFree Cash FlowYoY ChangeFCF Margin
FY2025Latest−$249.0M▼ 5.1%-29.3%
FY2024−$237.0M▼ 209.7%-27.8%
FY2023$216.0M▼ 16.0%21.1%
FY2022$257.0M▲ +54.8%30.7%
FY2021$166.0M▼ 19.4%24.0%
FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP
blx.to free cash flow 2025 · blx.to free cash flow 2024 · blx.to free cash flow 2023 · blx.to operating cash flow

FCF valuation metrics

Boralex Inc. (BLX.TO) reported negative free cash flow of −$0.25B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)
N/A
Free Cash Flow ÷ Market Cap
per FMP freeCashFlowYieldTTM definition
FCF per Share (TTM)
N/A
TTM FCF ÷ Shares Outstanding
Price / FCF
N/A
Share Price ÷ FCF per Share
EV / FCF (TTM)
N/A
Enterprise Value basis
!

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31
blx.to price to free cash flow · blx.to free cash flow yield · blx.to free cash flow per share · blx.to price to cash flow ratio

Cash flow statement summary

For FY2025, Boralex Inc. generated $362.0M in operating cash flow and spent 611M in capital expenditures, yielding −$249.0M in free cash flow.

Operating Activities
+$362.0M
Cash from core business operations
2025-12-31
Investing Activities
−$768.0M
CapEx, acquisitions & investments
2025-12-31
Financing Activities
+$132.0M
Buybacks, dividends & debt
2025-12-31
FCF FormulaOperating CF ($362.0M) − |CapEx| (611M) = FCF (−$249.0M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →
blx.to cash flow statement · blx.to cash flow statement 2025 · blx.to operating cash flow · blx.to cash flow from operations

Free cash flow vs peers (Utilities)

#CompanyFree Cash FlowYoY
#1
Boralex Inc.
Boralex Inc.YOU
BLX.TO
−$249.0M-5.1%
#2
GE Vernova Inc.
GE Vernova Inc.
GEV
$3.71B+118.3%#3
NextEra Energy, Inc.
NextEra Energy, Inc.
NEE
$3.21B-32.3%#4
Constellation Energy Corporation
Constellation Energy Corporation
CEG
$1.29B+125.6%#5
Duke Energy Corporation
Duke Energy Corporation
DUK
−$1.67B-3583.3%#6
The Southern Company
The Southern Company
SO
−$3.59B-531.0%
Utilities · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Boralex Inc. (BLX.TO) reported free cash flow of −$249.0M for FY2025 (fiscal year ending 2025-12-31), down 5.1% year-over-year. The FCF margin was -29.3%.

Based on available data, Boralex Inc. has maintained positive free cash flow for at least 7 fiscal year(s). FCF peaked at $257.0M in FY2022.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.
RevenueFinancial statementsNet incomeEarningsForecastPrice historyMarket capCash on handP/E ratio

Frequently asked questions

BLX.TO free cash flow · 8 questions

Boralex Inc. free cash flow was −$249.0M for FY2025, down 5.1% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$105.0M.

BLX.TO free cash flowBLX.TO FCFBLX.TO FCF 2025BLX.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Boralex Inc. · Boralex Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026