Financials Dollarama Inc.

Equities

DOL

CA25675T1075

Discount Stores

Market Closed - Toronto S.E. Other stock markets 04:00:00 16/07/2025 HKT			5-day change	1st Jan Change
188.56 ^CAD	-1.54%		-0.61%	+34.42%

07-06	Dollarama Inc.'s Equity Buyback announced on July 4, 2024, has expired.	CI
07-03	Dollarama Inc. authorizes a Buyback Plan.	CI

Projected Income Statement: Dollarama Inc.

Fiscal Period: February	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	4,026	4,331	5,053	5,867	6,413	6,780	7,269	7,828
Change	-	7.56%	16.67%	16.12%	9.3%	5.72%	7.21%	7.69%
EBITDA ¹	1,131	1,283	1,523	1,861	2,122	2,276	2,487	2,714
Change	-	13.44%	18.77%	22.18%	14.01%	7.26%	9.28%	9.14%
EBIT ¹	861	984.6	1,192	1,496	1,711	1,864	2,057	2,251
Change	-	14.36%	21.01%	25.53%	14.37%	8.98%	10.34%	9.4%
Interest Paid ¹	-95.65	-91.22	-115.4	-144.8	-163.8	-173.7	-172.3	-174
Earnings before Tax (EBT) ¹	765.4	893.4	1,076	1,351	1,547	1,647	1,840	1,923
Change	-	16.73%	20.45%	25.53%	14.51%	6.44%	11.76%	4.49%
Net income ¹	564.3	663.2	801.9	1,010	1,169	1,289	1,432	1,570
Change	-	17.51%	20.91%	26.01%	15.64%	10.29%	11.11%	9.62%
Announcement Date	31/3/21	30/3/22	29/3/23	4/4/24	3/4/25	-	-	-

¹CAD in Million

Estimates

Fiscal Period: February	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	1,014	1,064	1,104	954.2	1,029	1,122	1,225	1,073	1,217	1,290	1,473	1,295	1,456	1,478	1,639	1,406	1,563	1,563	1,881	1,521	1,685	1,690	1,891	1,639	1,815	1,816	2,035
Change	-	4.99%	3.71%	-13.54%	7.87%	9.03%	9.15%	-12.41%	13.44%	5.96%	14.24%	-12.13%	12.47%	1.49%	10.93%	-14.24%	11.21%	-0.05%	20.39%	-19.14%	10.77%	0.27%	11.89%	-13.3%	10.73%	0.03%	12.09%
EBITDA ¹	277.9	312.1	326.9	248.2	293.7	347	393.7	300	369.4	386.2	467.7	366.3	457.2	478.8	558.9	417.7	524.3	509.7	670.1	485.8	571.4	556.2	672.7	528.3	628.8	607.2	762.8
Change	-	12.3%	4.75%	-24.09%	18.33%	18.17%	13.46%	-23.8%	23.13%	4.56%	21.09%	-21.68%	24.82%	4.73%	16.73%	-25.26%	25.51%	-2.79%	31.48%	-27.5%	17.62%	-2.67%	20.95%	-21.46%	19.03%	-3.44%	25.63%
EBIT ¹	211.4	243.8	256.1	176.8	220.5	271.6	315.7	220	287.4	302.7	381.4	277.6	366.8	386.7	464.7	322	422.9	407.5	558.3	388.8	467.8	446.1	556	431.8	516.1	492	621.2
Change	-	15.33%	5.03%	-30.97%	24.73%	23.21%	16.22%	-30.31%	30.62%	5.3%	26.02%	-27.21%	32.1%	5.43%	20.18%	-30.7%	31.31%	-3.63%	37.01%	-30.36%	20.32%	-4.63%	24.62%	-22.33%	19.52%	-4.68%	26.26%
Charge d'intérêts ¹	-22.6	-23.05	-22.79	-22.15	-22.86	-23.05	-23.16	-24.36	-26.67	-30.36	-34.01	-36.68	-36.07	-36.7	-35.38	-36.52	-40.94	-41.6	-44.72	-43.96	-44.06	-44.74	-45.52	-38.95	-42.45	-42.95	-44.45
Earnings before Tax (EBT) ¹	-	-	-	154.6	197.6	248.6	292.6	195.7	260.7	272.3	347.4	240.9	330.7	350	429.3	285.5	381.9	365.9	513.6	355.2	414.7	392.2	507.9	395.2	474.1	448.2	581.2
Change	-	-	-	-	27.81%	25.79%	17.69%	-33.12%	33.25%	4.43%	27.58%	-30.64%	37.25%	5.83%	22.67%	-33.49%	33.76%	-4.2%	40.36%	-30.84%	16.76%	-5.43%	29.51%	-22.2%	19.98%	-5.48%	29.69%
Net income ¹	-	-	-	113.6	146.2	183.4	220	145.5	193.5	201.6	261.3	179.9	245.8	261.1	323.8	215.8	285.9	275.8	391	273.8	319.3	303.2	398.3	297.4	357	337	437.4
Change	-	-	-	-	28.75%	25.42%	19.94%	-33.85%	32.97%	4.19%	29.61%	-31.16%	36.63%	6.22%	24.02%	-33.33%	32.48%	-3.54%	41.75%	-29.98%	16.65%	-5.06%	31.4%	-25.34%	20.04%	-5.6%	29.79%
Announcement Date	2/9/20	9/12/20	31/3/21	9/6/21	9/9/21	8/12/21	30/3/22	8/6/22	9/9/22	7/12/22	29/3/23	7/6/23	13/9/23	13/12/23	4/4/24	12/6/24	11/9/24	4/12/24	3/4/25	11/6/25	-	-	-	-	-	-	-

¹CAD in Million

Estimates

Forecast Balance Sheet: Dollarama Inc.

Fiscal Period: February	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	1,444	1,823	2,151	1,950	2,160	3,814	3,861	3,492
Change	-	26.25%	17.99%	-9.34%	10.77%	76.57%	1.23%	-9.56%
Announcement Date	31/3/21	30/3/22	29/3/23	4/4/24	3/4/25	-	-	-

¹CAD in Million

Estimates

Cash Flow Forecast: Dollarama Inc.

Fiscal Period: February	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	167.8	159.5	156.8	278.8	246.9	321.3	353.3	315.4
Change	-	-4.96%	-1.68%	77.75%	-11.44%	30.14%	9.98%	-10.75%
Free Cash Flow (FCF) ¹	721.2	906.4	712.2	1,252	1,397	1,066	1,145	-
Change	-	25.67%	-21.42%	75.82%	11.59%	-23.74%	7.42%	-100%
Announcement Date	31/3/21	30/3/22	29/3/23	4/4/24	3/4/25	-	-	-

¹CAD in Million

Estimates

Forecast Financial Ratios: Dollarama Inc.

Fiscal Period: February	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	28.08%	29.62%	30.15%	31.72%	33.09%	33.57%	34.21%	34.67%
EBIT Margin (%)	21.38%	22.74%	23.58%	25.49%	26.67%	27.5%	28.3%	28.75%
EBT Margin (%)	19.01%	20.63%	21.3%	23.02%	24.12%	24.29%	25.32%	24.56%
Net margin (%)	14.02%	15.31%	15.87%	17.22%	18.22%	19.01%	19.7%	20.05%
FCF margin (%)	17.91%	20.93%	14.1%	21.34%	21.79%	15.72%	15.75%	-
FCF / Net Income (%)	127.8%	136.67%	88.82%	123.92%	119.57%	82.68%	79.94%	-
Profitability
ROA	14.22%	16%	18.05%	20.04%	19.9%	18.95%	19.75%	20.2%
ROE	465.14%	493.39%	-	493.8%	148.94%	87.53%	77.34%	69.95%
Financial Health
Leverage (Debt/EBITDA)	1.28x	1.42x	1.41x	1.05x	1.02x	1.68x	1.55x	1.29x
Debt / Free cash flow	2x	2.01x	3.02x	1.56x	1.55x	3.58x	3.37x	-
Capital Intensity
CAPEX / Current Assets (%)	4.17%	3.68%	3.1%	4.75%	3.85%	4.74%	4.86%	4.03%
CAPEX / EBITDA (%)	14.84%	12.44%	10.3%	14.98%	11.63%	14.12%	14.21%	11.62%
CAPEX / FCF (%)	23.27%	17.6%	22.02%	22.26%	17.67%	30.15%	30.87%	-
Items per share
Cash flow per share ¹	2.845	3.501	2.986	5.388	5.855	-	-	-
Change	-	23.05%	-14.71%	80.4%	8.67%	-	-	-
Dividend per Share ¹	0.1853	0.2012	0.2212	0.2832	0.368	0.4333	0.4983	0.6066
Change	-	8.58%	9.94%	28.03%	29.94%	17.74%	15%	21.73%
Book Value Per Share ¹	-	-	0.0982	-	4.231	6.555	7.539	9.04
Change	-	-	-	-	-	54.92%	15.01%	19.91%
EPS ¹	1.81	2.18	2.76	3.56	4.16	4.659	5.287	5.874
Change	-	20.44%	26.61%	28.99%	16.85%	12.01%	13.46%	11.1%
Nbr of stocks (in thousands)	310,266	296,965	286,272	278,755	277,200	277,147	277,147	277,147
Announcement Date	31/3/21	30/3/22	29/3/23	4/4/24	3/4/25	-	-	-