Capital Power Corporation

CPX.TO

Independent Power Producers · Utilities

Exchange

Toronto Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Strong

Stability

Weak

Valuation

Good

Dividends

Strong

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Winston Score History

The full picture

Capital Power Corporation is a Canadian company that generates and sells electricity. It owns and operates power plants across Canada and the United States, producing electricity from natural gas, wind, solar, and coal. The company sells that power to utilities, businesses, and electricity grids that need a reliable supply of energy.

Capital Power makes money by selling electricity under long-term contracts and on open energy markets. It operates roughly 30 facilities, with most of its assets in Alberta and several U.S. states, giving it a geographically spread portfolio. The company has a degree of stability from those long-term contracts, which lock in revenue for years at a time. However, Capital Power is in the middle of phasing out its coal plants to meet emissions regulations, and the cost of replacing that capacity with cleaner energy sources is a significant financial challenge that will shape its performance in the years ahead.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+8.0% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+64.1% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

0.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↑ Burn rate improving

C$1.7B cash & investments at current burn rate

Growth context

Capital Power Corporation is growing revenue at 8% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

18.5%

Thin — 18.5% gross margin

Profit after running costs

Operating Margin

9.3%

Modest — 9.3% operating margin

Return on the money invested

ROCE

-3.0%

Weak — -3.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+28.7%

Fast-growing sales (+28.7% YoY)

Profit growth

EPS YoY

-83.3%

Earnings shrinking (-83.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

979%

Turns 979% of profit into real cash

Spare cash per sale

FCF Margin

5.1%

Thin free cash flow (5.1%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

1.47

Elevated debt (1.47)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

125.7x

no trend

Expensive — P/E 125.7

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+108.0

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (125.7 → 17.8)

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Dividends

Dividend

Dividend Yield

4.27%

no trend

Healthy income — 4.27% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+5.0%

no trend

Dividend growing modestly (5.0% YoY)

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