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Home CompaniesMaxim Power Corp.

Maxim Power Corp.

Utilities Utilities - Independent Power Producers
PortfolioPortfolio WatchlistWatchlist
Company price
4.43 CAD -0.09 ( 1.99%)
Last update at 2026-11-05T19:30:00Z
VOLUME
4714
Market Cap
283.20M
P/E
17.12

Momentum Score

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Maxim Power Corp., an independent power producer, develops, owns, and operates power and power related projects in Canada. It operates Milner power plant(M2), a 300 MW combined cycle gas-fired power plant located in Grande Cache, Alberta. The company is headquartered in Calgary, Canada.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
4.43
Low
4.50
High
52 Week Price Range
3.68
Low
4.92
High

Momentum Score

…
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Maxim Power Corp. (TSX: MXG) is a Canadian electricity generation company that develops, owns and operates power assets serving Alberta's wholesale and industrial markets. Long-term growth may be supported by Alberta market dynamics, rising demand for firm capacity alongside renewables and opportunities to improve margins via efficiency or contracted sales, making exposure to power prices and cash flow appealing to investors.

Key risks include volatile wholesale prices, regulatory or environmental policy changes, and operational or financing challenges for asset investments.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
4.52
Dividend Yield
-
Revenue TTM
86.87M
Revenue Per Share
1.36
Gross Profit TTM
28.05M
Debt / Equity
0.27
ROE
5.14%
Net Debt
-56.92M
ROCE
-0.06%
Diluted EPS TTM
0.26

Insight Announcement

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Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Income before tax 18.24M 28.12M 37.40M 52.59M 98.15M
Net income 16.69M 21.95M 28.30M 42.28M 78.51M
Selling general administrative 8.15M 7.53M 6.71M 6.00M 5.14M
Gross profit 7.93M 42.83M -9.94M 141.26M 156.01M
Reconciled depreciation 15.61M 14.56M 9.70M 10.55M 7.97M
Ebit -0.22M 36.19M 45.42M 58.96M 103.50M
Ebitda 15.74M 51.10M 55.45M 66.83M 125.96M
Depreciation and amortization 15.96M 14.91M 10.03M 7.87M 22.46M
Operating income -0.22M 29.05M -16.65M 58.96M 103.50M
Other operating expenses 82.94M 72.43M 55.11M 84.53M 83.15M
Interest expense 0.52M 8.06M 8.02M 5.97M 5.67M
Tax provision 1.55M 6.17M 9.11M 10.32M 19.64M
Interest income 1.88M 3.54M 2.93M 1.26M 7.05M
Net interest income 1.35M -3.63M -5.09M -6.40M -7.23M
Income tax expense 1.55M 6.17M 9.11M 10.32M 19.64M
Total revenue 82.72M 101.48M 38.47M 141.26M 156.01M
Total operating expenses 8.15M 13.77M 6.71M 84.53M 83.15M
Cost of revenue 74.79M 58.66M 48.41M 79.98M 70.04M
Total other income expense net 18.46M -0.93M 54.05M -6.37M -5.36M
Net income from continuing ops 16.69M 21.95M 28.30M 42.28M 78.51M
Net income applicable to common shares - 21.95M 28.30M 42.28M 78.51M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total assets 383.42M 359.10M 425.84M 382.11M 312.44M
Other current assets 5.45M - 7.50M 4.13M 1.96M
Total liab 50.28M 43.08M 128.09M 113.45M 85.25M
Total stockholder equity 333.14M 316.02M 297.75M 268.65M 227.18M
Other current liab 11.03M 0.58M 18.36M 10.70M 11.37M
Common stock 172.41M - 143.96M 143.47M 144.11M
Capital stock 172.41M 172.48M 143.96M 143.47M 144.11M
Retained earnings 146.60M 130.26M 140.59M 112.35M 70.40M
Other liab - - - 15.86M 11.73M
Other assets - - - 14.95M 15.57M
Cash 56.92M 30.07M 32.26M 51.38M 13.55M
Cash and equivalents - - - 51.38M 13.55M
Total current liabilities 14.06M 11.51M 26.52M 16.25M 19.67M
Net debt -56.92M - 49.06M 31.43M 40.30M
Short term debt - - 4.83M 1.47M 0.00M
Short long term debt - - 4.83M 1.47M -
Short long term debt total - - 81.31M 82.81M 53.85M
Other stockholder equity 14.14M - 13.19M 12.83M 12.68M
Property plant equipment - - - 296.55M 260.59M
Total current assets 70.37M 41.47M 92.32M 70.62M 36.28M
Long term investments 4.77M - - - -
Net tangible assets - - - 268.65M 227.18M
Net receivables 8.00M 4.38M 52.56M 15.11M 20.77M
Long term debt - - 76.38M 81.20M 53.65M
Inventory - - 0.00M - -
Accounts payable 3.04M 2.65M 3.33M 4.09M 8.30M
Accumulated other comprehensive income - - 0.00M - -
Non currrent assets other 4.55M 11.59M 3.54M 14.95M 15.39M
Non current assets total 313.05M 317.62M 333.52M 311.49M 276.16M
Capital lease obligations 0.28M 0.08M 0.11M 0.14M 0.20M
Long term debt total - - - 81.34M 53.85M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Investments - 7.30M -32.09M -57.79M -85.31M
Change to liabilities - - - -3.54M 3.81M
Total cashflows from investing activities -4.61M 7.30M -32.09M -57.79M -85.31M
Net borrowings 0.00M -53.51M -2.85M 27.86M -10.75M
Total cash from financing activities -0.66M -93.64M -10.86M 19.28M -18.60M
Change to operating activities - - - -3.73M 0.13M
Net income 16.69M 21.95M 28.30M 42.28M 78.51M
Change in cash 26.85M -2.19M -19.12M 37.83M 1.29M
Begin period cash flow 30.07M 32.26M 51.38M 13.55M 12.26M
End period cash flow 56.92M 30.07M 32.26M 51.38M 13.55M
Total cash from operating activities 32.14M 84.07M 23.84M 76.41M 105.22M
Depreciation 15.96M 14.56M 10.03M 10.55M 7.97M
Other cashflows from investing activities 10.22M 3.62M -4.67M 23.30M 3.26M
Dividends paid 0.00M -31.85M 0.00M 0.00M 0.00M
Change to account receivables -1.71M 41.63M -32.77M 5.66M -13.81M
Sale purchase of stock -0.88M -1.27M -0.14M -1.37M -0.03M
Other cashflows from financing activities - -7.01M -7.87M 29.79M -7.82M
Change to netincome - - - 23.29M 26.85M
Capital expenditures 13.80M 7.19M 27.42M 81.09M 88.58M
Change in working capital 0.82M 42.28M -28.69M -1.62M -9.87M
Stock based compensation 1.09M 1.51M 0.47M 0.54M 0.45M
Other non cash items -2.80M -2.40M 4.76M 14.35M 8.54M
Free cash flow 18.34M 76.88M -3.58M -4.68M 16.64M

Peer Comparison*

Sector: Utilities Industry: Utilities - Independent Power Producers

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
MXG
Maxim Power Corp.		 -0.09
1.99%		 4.43 17.12 54.05 3.26 0.85 2.59 6.61
CPX
Capital Power Corporation		 -0.04
0.06%		 63.67 75.02 23.75 2.76 2.34 4.72 16.73
TA
TransAlta Corp		 -0.21
1.13%		 18.36 - 114.94 2.05 11.24 4.25 14.51
TA-PJ
TransAlta Corp Pref J		 -
-%		 26.00 - - 0.90 - - -
TA-PD
Transalta A Cum Red Rat Rst Prf		 0.09
0.43%		 21.22 - - 0.88 - - -

Profile*

Maxim Power Corp.

Maxim Power Corp., an independent power producer, develops, owns, and operates power and power related projects in Canada. It operates Milner power plant(M2), a 300 MW combined cycle gas-fired power plant located in Grande Cache, Alberta. The company is headquartered in Calgary, Canada.

715 ? 5th Avenue SW, Calgary, AB, Canada, T2P 2X6

403 263 3021

https://maximpowercorp.com

51

Name Title Year Born
Mr. M. Bruce Chernoff P.Eng. Chairman & CEO 1966
Mr. Robert Emmott Pres & COO NA
Mr. Kyle Mitton VP of Corp. Devel. & CFO NA
Mr. Kevin Dyck VP of Fin. & Controller NA
Mr. Robert Bruce Watson VP of Canadian Facilities NA
Ms. Kim Karran Corp. Sec. & Sr. HR Advisor NA
Mr. Robert Emmott President & CEO NA
Mr. Kyle Mitton VP of Corporate Development & CFO NA
Mr. Robert Bruce Watson Vice President of Operations NA
Mr. Kevin Dyck VP of Finance & Controller NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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