TSX · Utilities - Renewable · CAD

Polaris Renewable Energy Inc. (PIF.TO) Stock Analysis

Polaris Renewable Energy Inc. (PIF.TO) is a Utilities - Renewable stock listed on TSX and quoted in Canadian Dollar.

PIF.TO

CA$14.25

+CA$0.11 (+0.78%)

Sep 4, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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PIF.TO Key Statistics

As of Sep 4, 2026

Trading

Open: CA$14.13
Previous Close: CA$14.14
Day's Range: 14.13–14.27
52-Week Range: 11.55–16.08
Volume: 12.00K
Beta: 0.47

Valuation

Market Cap: CA$297.76M
P/E Ratio: 54.81
Forward P/E: 18.75
P/S ratio: 3.81
EPS (ttm): 0.26

Financials (FY)

Revenue (FY): CA$80.48M+6.21%
Net Income (FY): −CA$2.75M−191.84%
Profit margin: 5.13%
Shares Outstanding: 20.90M
1-Year Return: +20.20%

Dividend and dates

Dividend: CA$0.83+5.80%
Ex-Dividend Date: August 10, 2026
Earnings Date: November 5, 2026
Avg Volume: 39.72K

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

PIF.TO Stock Return by Calendar Year

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

+59.90%−25.73%+24.81%

2016*2017201820192020202120222023202420252026*

Year	Return
2026 (partial year)	+24.81%
2025	−5.26%
2024	+7.55%
2023	−0.45%
2022	−12.65%
2021	−0.90%
2020	+53.07%
2019	+26.92%
2018	−25.73%
2017	+17.33%
2016 (partial year)	+59.90%

As of September 4, 2026.

PIF.TO Revenue and Earnings by Fiscal Year

FY ends December

RevenueNet income

2022202320242025

Fiscal year	Revenue	Net income	Net margin
2025	CA$80.48M	−CA$2.75M	−3.4%
2024	CA$75.77M	CA$2.99M	3.9%
2023	CA$78.52M	CA$11.74M	15.0%
2022	CA$62.60M	CA$2.50M	4.0%

Fiscal year	Revenue	Gross profit	Operating income	Net income	Net margin
2025	CA$80.48M	CA$34.25M	CA$29.09M	−CA$2.75M	−3.4%
2024	CA$75.77M	CA$32.81M	CA$24.73M	CA$2.99M	3.9%
2023	CA$78.52M	CA$35.92M	CA$28.04M	CA$11.74M	15.0%
2022	CA$62.60M	CA$25.19M	CA$17.61M	CA$2.50M	4.0%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

PIF.TO Dividend History

’16’17’18’19’20’21’22’23’24’25’26*

CA$0.84+2.3% vs 2024

Dividends per share, 2025 · 4 payments

Year	Dividends per share	Payments	Change
2026*	CA$0.62	3	—
2025	CA$0.84	4	+2.3%
2024	CA$0.82	4	+1.0%
2023	CA$0.81	4	+4.1%

Year	Dividends per share	Payments	Change
2026 (partial year)	CA$0.62	3	—
2025	CA$0.84	4	+2.3%
2024	CA$0.82	4	+1.0%
2023	CA$0.81	4	+4.1%
2022	CA$0.78	4	+4.1%
2021	CA$0.75	4	−6.8%
2020	CA$0.81	4	+0.6%
2019	CA$0.80	4	−68.8%
2018	CA$2.56	4	+387.3%
2017	CA$0.53	3	+255.4%
2016	CA$0.15	1	—

Most recent payment: CA$0.21 per share, ex-dividend August 10, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

PIF.TO Valuation vs Utilities - Renewable Median

Median of 28 stocks

Metric	PIF.TO	Utilities - Renewable median	vs median
P/E	54.81	29.23	87% above
P/S ratio	3.81	2.57	48% above
Profit margin	5.13%	0.00%	5.1 pts above

Medians across 28 Utilities - Renewable stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of September 4, 2026.

Analysis

Data-derived

Company Overview

Polaris Renewable Energy Inc. (PIF.TO) carries a market capitalisation of CA$297.76M. The company sits in the Utilities sector, in the Utilities - Renewable industry. The company reports 215 employees.

Over the past 52 weeks the price has ranged from CA$11.55 to CA$16.08. PIF.TO last closed at CA$14.25 on September 4, 2026. That is +CA$0.11 (+0.78%) against the previous close. The latest close sits 23.38% above that 52-week low.

Financial Health

In fiscal 2025, Polaris Renewable Energy Inc. reported revenue of CA$80.48M. That is +6.21% against the prior fiscal year, when revenue was CA$75.77M. The same year closed with a net loss of CA$2.75M. Profit margin runs at 5.13%. That is 5.1 percentage points above the Utilities - Renewable median of 0%. Trailing earnings per share are 0.26.

Across the 4 fiscal years on file, revenue moves from CA$62.60M in 2022 to CA$80.48M in 2025. Of those 4 years, 3 report positive net income.

Valuation Assessment

On trailing earnings, the shares are priced at 54.81 times earnings. That is 87.48% above the Utilities - Renewable median of 29.24. The forward P/E on file is 18.75. Measured against sales, the shares trade at 3.81 times revenue. On price-to-sales that is 48% above the Utilities - Renewable median of 2.57. The medians here are taken across 28 Utilities - Renewable companies that report the metric.

Beta against the wider market is reported at 0.47. Daily returns over the trailing 10 years annualize to a volatility of 35.16%. Over the trailing twelve months the price has returned +20.20%. Across 10 years the annualized return works out at +6.25%.

Growth & Income

Shareholders receive a dividend, yielding 5.8% on the latest price. That is 0.8 percentage points above the Utilities - Renewable median yield of 4.99%. At the indicated rate that is CA$0.83 a share a year. The ex-dividend date on file is August 10, 2026. Dividends are recorded for 11 calendar years; 2026 shows 3 payments totalling CA$0.62 a share. The year before, 2025, totalled CA$0.84 a share.

The strongest complete calendar year on file is 2020 at +53.07%; the weakest is 2018 at −25.73%. Of the 9 complete calendar years on file, 4 finished higher. So far in 2026 the price is +24.81%.

Peer Comparison

Polaris Renewable Energy Inc. (PIF.TO) operates in the Utilities - Renewable industry. Here is how it compares to its closest peers by market capitalization:

Company	Ticker	Market Cap	P/E Ratio
Polaris Renewable Energy Inc.	PIF.TO	CA$297.76M	54.8
AXIA Energia SA	AXIA	CA$23.29B	10.0
Brookfield Renewable Partners L.P.	BEP	CA$15.28B	—
Enlight Renewable Energy Ltd	ENLT	CA$11.04B	129.4

The Utilities - Renewable industry average P/E ratio is 29.2x. Polaris Renewable Energy Inc. trades at a P/E of 54.8.

Every figure above is read from this page's own data on each nightly rebuild. Informational only, not financial advice. As of September 4, 2026.

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About Polaris Renewable Energy Inc.

Polaris Renewable Energy Inc. engages in the acquisition, exploration, development, and operation of renewable energy projects in Latin America and the Caribbean. It is involved in the operation of an 82 megawatt (MW) capacity geothermal facility in Nicaragua; 3 run-of-river hydroelectric facilities with a combined capacity of approximately 33 MW in Peru; a 25 MW solar plant facility in the Dominican Republic; a 6 MW run-of-river hydroelectric facility in Ecuador; and a 10 MW solar plant in Panama. The company was formerly known as Polaris Infrastructure Inc. and changed its name to Polaris Renewable Energy Inc. in July 2022. Polaris Renewable Energy Inc. was incorporated in 1984 and is headquartered in Toronto, Canada.

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