Company Valuation: Chemtrade Logistics Income Fund

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 770.4 1,035 996.2 1,316 1,701 1,722 -
Change - 34.4% -3.79% 32.07% 29.26% 1.26% -
Enterprise Value (EV) 1 1,948 1,990 1,827 2,180 2,881 2,945 2,866
Change - 2.14% -8.21% 19.34% 32.16% 2.23% -2.7%
P/E -3.2x 9.06x 5.61x 10.5x 12.1x 11x 9.6x
PBR - - - 2.06x - 2.23x 1.93x
PEG - -0x 0.1x -0.3x 0.7x 0.7x 0.7x
Capitalization / Revenue 0.56x 0.57x 0.54x 0.74x 0.85x 0.79x 0.76x
EV / Revenue 1.42x 1.1x 0.99x 1.22x 1.44x 1.36x 1.27x
EV / EBITDA 6.95x 4.62x 3.63x 4.63x 5.68x 5.79x 5.36x
EV / EBIT 47.8x 9.3x 6.41x 7.72x 11.1x 10.4x 9.68x
EV / FCF 14.7x 7.84x 7.77x 13.5x 16.1x 20.9x 16x
FCF Yield 6.82% 12.8% 12.9% 7.43% 6.2% 4.78% 6.23%
Dividend per Share 2 0.6 0.6 0.6 0.66 0.69 0.7175 0.739
Rate of return 8.11% 6.69% 7.04% 6.03% 4.68% 4.64% 4.78%
EPS 2 -2.31 0.99 1.52 1.04 1.22 1.403 1.609
Distribution rate -26% 60.6% 39.5% 63.5% 56.6% 51.2% 45.9%
Net sales 1 1,369 1,813 1,847 1,787 1,998 2,170 2,254
EBITDA 1 280.4 430.9 502.6 470.8 507.4 509 534.1
EBIT 1 40.76 213.9 285.1 282.2 260 282.9 296.1
Net income 1 -235.2 109.1 249.3 126.9 139.4 143 167
Net Debt 1 1,178 954.5 830.5 864.2 1,180 1,223 1,144
Reference price 2 7.40 8.97 8.52 10.94 14.75 15.45 15.45
Nbr of stocks (in thousands) 104,109 115,431 116,921 120,261 115,298 111,465 -
Announcement Date 22/2/22 22/2/23 20/2/24 28/2/25 25/2/26 - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.02x1.36x5.79x4.64% 1.21B
26.44x4.08x13.19x2.13% 120B
53.35x1.38x8.53x5.9% 43.16B
15.96x3.88x22.82x3.15% 34.83B
11.66x1.16x6.5x2.62% 31.94B
10.01x2.91x7.21x4.47% 23.11B
35.52x2.78x15.76x0.36% 20.69B
20.69x3.18x12.16x0.58% 19.85B
5.98x0.82x5.06x4.6% 19.39B
10.61x0.92x8.09x3.73% 17.78B
Average 20.12x 2.25x 10.51x 3.22% 33.15B
Weighted average by Cap. 24.39x 2.84x 11.85x 2.98%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Chemtrade Logistics Income Fund
-40%: Exceptional extension
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