Brookfield Renewable Corporation Class A Exchangeable Subordinate Voting Shares
BEPC
$39.83
+2.18%
Brookfield Renewable Corporation is a globally diversified owner and operator of clean energy assets, operating in the Renewable Utilities industry. It is a major player with a portfolio exceeding 40 gigawatts of hydroelectric, wind, solar, and storage facilities across multiple continents.…
BEPC
Brookfield Renewable Corporation Class A Exchangeable Subordinate Voting Shares
$39.83
Investment Opinion: Should I buy BEPC Today?
Based on a synthesis of the volatile fundamentals, high leverage, and mixed analyst outlook, the objective assessment points to a Hold rating. The company's strategic position in renewable energy is strong, but the investment case is currently clouded by severe profitability swings and liquidity concerns. The stock may be suitable only for investors with a high risk tolerance, a long-term horizon, and a firm understanding of the capital-intensive utility business model. It does not present a clear, low-risk buying opportunity at this juncture.
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BEPC 12-Month Price Forecast
The analysis yields a neutral stance due to conflicting signals: a premier renewable asset portfolio is weighed down by precarious financials. The path forward is highly dependent on macro conditions and internal capital allocation decisions.
Wall Street consensus
Most Wall Street analysts maintain a constructive view on Brookfield Renewable Corporation Class A Exchangeable Subordinate Voting Shares's 12-month outlook, with a consensus price target around $51.78 and implied upside of +30.0% versus the current price.
Average Target
$51.78
2 analysts
Implied Upside
+30.0%
vs. current price
Analyst Count
2
covering this stock
Price Range
$32 - $52
Analyst target range
Wall Street analyst coverage is limited, with only two analysts providing revenue estimates for the company, averaging $3.85 billion. No consensus target price or detailed ratings distribution (e.g., Buy/Hold/Sell) is provided in the data. Recent institutional ratings show mixed sentiment, with actions in 2026 including a downgrade to 'Underweight' from Morgan Stanley and a maintained 'Equal Weight' from Barclays, while several 'Overweight' ratings were issued in 2025.
Bulls vs Bears: BEPC Investment Factors
BEPC is a high-volatility, capital-intensive play on the global energy transition. Its massive asset base and operational strength are offset by severe financial volatility, weak liquidity, and a complex, leveraged balance sheet. The stock's performance is highly sensitive to interest rates, financing costs, and project-level returns.
Bullish
- Strong Long-Term Price Trend: Up 11.5% over 6 months, significantly outperforming the S&P 500.
- Massive Global Renewable Portfolio: Over 40 GW of clean energy assets provides scale and diversification.
- Positive Operating Margin: Q4 operating margin of 153.3% indicates core operational profitability.
- Attractive Price-to-Sales Ratio: PS ratio of 1.85 is reasonable for a major utility-scale owner.
Bearish
- Extreme Earnings Volatility: Q4 net loss of -$706M vs. $761M profit a year prior.
- Severe Liquidity Constraint: Current ratio of 0.26 signals potential short-term cash issues.
- Negative Free Cash Flow: TTM FCF of -$745M raises sustainability concerns.
- High Leverage & Complex Capital: EV/Sales of 10.19 and negative D/E reflect heavy debt burden.
BEPC Technical Analysis
The stock has demonstrated significant volatility and a strong upward trend over the past six months, with the price rising from $35.72 on October 2, 2025, to $39.83 on March 31, 2026, representing a 6-month gain of 11.5%. In the short term, the stock declined 6.79% over the past month but gained 3.89% over the past three months, notably outperforming the S&P 500 which fell 5.25% and 4.63% over the same periods, respectively. Currently priced at $39.83, the stock is trading near the middle of its 52-week range of $23.73 to $45.18, indicating it is not at an extreme high or low, and its beta of 1.233 suggests higher volatility than the broader market.
Beta
1.23
1.23x market volatility
Max Drawdown
-16.6%
Largest decline past year
52-Week Range
$24-$45
Price range past year
Annual Return
+42.7%
Cumulative gain past year
| Period | BEPC Return | S&P 500 |
|---|---|---|
| 1m | -6.8% | -5.3% |
| 3m | +3.9% | -4.6% |
| 6m | +11.5% | -2.8% |
| 1y | +42.7% | +15.9% |
| ytd | -0.2% | -4.6% |
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BEPC Fundamental Analysis
Revenue for Q4 2025 was $938 million, showing a year-over-year decline of 4.96% from Q4 2024. Profitability is highly volatile, with Q4 2025 reporting a significant net loss of -$706 million (net margin of -75.3%), a stark contrast to the $761 million net income in Q4 2024, though the operating margin remained positive at 153.3% for the quarter. The company's financial health shows a very low current ratio of 0.26, indicating potential short-term liquidity constraints, and a negative debt-to-equity ratio of -38.33, which is unusual and may reflect accounting treatment of partnership interests; however, trailing twelve-month free cash flow is negative at -$745 million. Operational efficiency metrics are mixed, with a Return on Equity (ROE) of 4.21% and a Return on Assets (ROA) of 1.22%, suggesting modest returns on capital employed.
Quarterly Revenue
$938000000.0B
2025-12
Revenue YoY Growth
-0.04%
YoY Comparison
Gross Margin
+0.56%
Latest Quarter
Free Cash Flow
$-745314150.0B
Last 12 Months
Revenue & Net Income Trends (2 Years)
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Valuation Analysis: Is BEPC Overvalued?
Given the company reported a significant net loss for the latest quarter and has a negative trailing EPS, the Price-to-Earnings (PE) ratio is not meaningful. Therefore, the Price-to-Sales (PS) ratio of 1.85 is a more appropriate valuation metric. The Enterprise Value-to-Sales (EV/Sales) ratio of 10.19 is significantly higher, reflecting the company's substantial debt and other obligations in its capital structure. Data for a direct peer comparison of these valuation multiples is not available in the provided inputs.
PE
-2.9x
Latest Quarter
vs. Historical
Mid-Range
5-Year PE Range -224x~202x
vs. Industry Avg
N/A
Industry PE ~N/A*
EV/EBITDA
49.0x
Enterprise Value Multiple
Investment Risk Disclosure
The primary risk is financial and operational volatility, as evidenced by the swing from a $761 million net income in Q4 2024 to a -$706 million loss in Q4 2025. This underscores the company's exposure to non-cash accounting items, interest rate fluctuations on its substantial debt, and potentially lumpy project development timelines. Liquidity risk is acute, with a current ratio of 0.26 and negative trailing free cash flow, which could pressure the company's ability to fund new projects or cover obligations without additional financing.
Market and execution risks are also significant. The stock's beta of 1.233 indicates higher volatility than the market, likely tied to sentiment around interest rates and renewable energy subsidies. The high EV/Sales multiple of 10.19 suggests the market prices in significant future growth, making the stock vulnerable to execution missteps or a slowdown in the energy transition investment cycle. The mixed institutional analyst actions in 2026, including a downgrade to 'Underweight', reflect growing caution about these combined risks.
FAQ
The key risks are financial volatility, liquidity, and leverage. Earnings swung from a $761M profit to a -$706M loss year-over-year. The current ratio of 0.26 indicates potential difficulty meeting short-term obligations. The high EV/Sales of 10.19 reflects significant debt, making the company sensitive to interest rates. Execution risk on new projects and reliance on the broader energy transition policy landscape are additional concerns.
The 12-month outlook is highly scenario-dependent. The base case (50% probability) sees range-bound trading between $36 and $42, reflecting ongoing volatility. A bull case (25%) could see a rally to the $43-$45 range on falling rates and strong execution. A bear case (25%) risks a decline toward the $24-$32 range if financial pressures intensify. The stock's high beta of 1.233 suggests it will be more volatile than the overall market.
Valuation sends mixed signals. The Price-to-Sales ratio of 1.85 appears reasonable. However, the much higher Enterprise Value-to-Sales ratio of 10.19 reveals the company's substantial debt load. With negative earnings and free cash flow, traditional PE and P/CF metrics are not meaningful. The stock is likely fairly valued relative to its asset base but carries a premium for growth that depends heavily on favorable financing conditions.
BEPC is not a straightforward 'good buy' for most investors at this time. While it owns a premier global portfolio of renewable assets, the investment is clouded by extreme quarterly earnings volatility, a very weak current ratio of 0.26, and negative free cash flow. It may only be suitable for highly risk-tolerant, long-term investors who can withstand significant price swings and understand the complex, capital-intensive utility model.
BEPC is unequivocally suited only for long-term investment horizons (5+ years). The short-term is dominated by earnings volatility, liquidity concerns, and sensitivity to interest rates, making price predictions difficult. The long-term thesis rests on the value of its over 40 GW renewable portfolio in a decarbonizing world, but realizing that value requires patience through the capital cycle.