Innergex Renewable Energy (OTCMKTS:INGXF) and SolarBank (NASDAQ:SUUN) Head-To-Head Review
by Tristan Rich · The Markets DailySolarBank (NASDAQ:SUUN – Get Free Report) and Innergex Renewable Energy (OTCMKTS:INGXF – Get Free Report) are both small-cap oils/energy companies, but which is the superior investment? We will contrast the two businesses based on the strength of their earnings, valuation, institutional ownership, risk, profitability, dividends and analyst recommendations.
Analyst Ratings
This is a breakdown of recent recommendations for SolarBank and Innergex Renewable Energy, as reported by MarketBeat.com.
| Sell Ratings | Hold Ratings | Buy Ratings | Strong Buy Ratings | Rating Score | |
| SolarBank | 0 | 0 | 1 | 0 | 3.00 |
| Innergex Renewable Energy | 0 | 0 | 0 | 0 | 0.00 |
SolarBank currently has a consensus target price of $6.00, indicating a potential upside of 37.93%. Given SolarBank’s stronger consensus rating and higher possible upside, equities research analysts plainly believe SolarBank is more favorable than Innergex Renewable Energy.
Profitability
This table compares SolarBank and Innergex Renewable Energy’s net margins, return on equity and return on assets.
| Net Margins | Return on Equity | Return on Assets | |
| SolarBank | -10.64% | -15.19% | -6.41% |
| Innergex Renewable Energy | 1.84% | 4.40% | 0.59% |
Earnings & Valuation
This table compares SolarBank and Innergex Renewable Energy”s top-line revenue, earnings per share and valuation.
| Gross Revenue | Price/Sales Ratio | Net Income | Earnings Per Share | Price/Earnings Ratio | |
| SolarBank | $43.08 million | 3.21 | -$2.56 million | ($0.22) | -19.77 |
| Innergex Renewable Energy | $764.31 million | 1.60 | -$72.93 million | $0.03 | 200.33 |
SolarBank has higher earnings, but lower revenue than Innergex Renewable Energy. SolarBank is trading at a lower price-to-earnings ratio than Innergex Renewable Energy, indicating that it is currently the more affordable of the two stocks.
Summary
Innergex Renewable Energy beats SolarBank on 6 of the 11 factors compared between the two stocks.
About SolarBank
SolarBank Corporation operates as an independent renewable and clean energy project developer and asset operator in Canada and the United States. The company engages in the site origination, development, financing, engineering, procurement, construction, operation, maintenance, and asset management of solar photovoltaic power generation projects. It offers solar energy solutions in the areas of behind-the-meter solar power plants, electricity grid connected community solar gardens, and utility scale solar farms. The company was formerly known as Abundant Solar Energy Inc. and changed its name to SolarBank Corporation in October 2022. SolarBank Corporation was incorporated in 2013 and is headquartered in Toronto, Canada.
About Innergex Renewable Energy
Innergex Renewable Energy Inc. operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation. As of February 21, 2024, it owned and operated 87 facilities with a net installed capacity of 3,600 megawatts, including 41 hydroelectric facilities, 35 wind facilities, 9 solar facilities, and 2 battery energy storage facilities. The company is headquartered in Longueuil, Canada.