# NORTHLAND POWER INC (NPI.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Utilities / Independent Power and Renewable Electricity Producers. Price C$20.92, market value C$5.5 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). NORTHLAND POWER INC reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 2.1×**. Each dollar of revenue is priced at 2.1×.
- **Price / book: 1.4×**. The shares trade at 1.4× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 11.7×**. Enterprise value is 11.7× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 16.5%** (5-yr avg 10.3%). Free cash flow equals 16.5% of the market value, above its five-year average of 10.3%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.

## Profitability
- **Operating margin: 34.3%**. 34.3% of revenue is left after running the business, an exceptional level.
- **Net margin: -6.7%**. The company reported a net loss over the last twelve months.
- **Return on equity: -4.0%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 8.3%**. Return on all capital, debt included, is 8.3%.
- **Return on assets: -1.1%**. Each dollar of assets produces -1.1% of profit.

## Growth
- **Revenue growth (1 yr): 3.8%** (3-yr -0.2%/yr, 5-yr 3.4%/yr). Revenue grew 3.8% over the last year, against 3.4% a year compounded over five years.
- **EPS growth (1 yr): -160.2%**. Earnings per share fell 160.2%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -2.2%/yr**. Free cash flow has compounded at -2.2% a year over three years.

## Financial health
- **Debt to equity: 1.77**. Debt is 1.77 times equity, a leveraged balance sheet, which is normal for utilities.
- **Net debt / EBITDA: 6.3×**. It would take 6.3 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 2.7×**. Operating profit covers interest 2.7×, thin but manageable.
- **Current ratio: 1.07** (quick 1.07). Current assets cover the next year's liabilities 1.07 times.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.44%** (C$0.92 per share, trailing). NORTHLAND POWER INC yields 3.44%, a modest yield more typical of a growth-oriented payer.
- **Dividend growth (5 yr): -0.7%/yr** (1-yr -3.3%). The dividend has not grown over five years.

## Analyst view
- **Analyst consensus: buy** (13 analysts). 13 analysts cover NORTHLAND POWER INC; the consensus is buy, with an average price target of C$26.62 (+27% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -3.2%** (YTD 19.1%, 3-mo -7.9%). The shares are down 3.2% over twelve months including dividends.
- **From 52-week high: -19.5%** (31.1% above the low). Trading 20% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 46**. An RSI of 46 is neutral.
- **Beta (1 yr): 0.55** (volatility 37%). Beta of 0.55 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=NPI.TO · Page: https://foliofundamentals.com/stocks/npi.to

Not investment advice.