Company Valuation: Chemtrade Logistics Income Fund

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 770.4 1,035 996.2 1,316 1,701 1,696 - -
Change - 34.4% -3.79% 32.07% 29.26% -0.28% - -
Enterprise Value (EV) 1 1,948 1,990 1,827 2,180 2,881 2,893 2,819 1,696
Change - 2.14% -8.21% 19.34% 32.16% 0.41% -2.54% -39.85%
P/E -3.2x 9.06x 5.61x 10.5x 12.1x 11.2x 9.69x -
PBR - - - 2.06x 2.17x 2x 1.8x -
PEG - -0x 0.1x -0.3x 0.7x 1.1x 0.6x -
Capitalization / Revenue 0.56x 0.57x 0.54x 0.74x 0.85x 0.75x 0.73x 0.71x
EV / Revenue 1.42x 1.1x 0.99x 1.22x 1.44x 1.27x 1.21x 0.71x
EV / EBITDA 6.95x 4.62x 3.63x 4.63x 5.68x 5.73x 5.29x 3.09x
EV / EBIT 47.8x 9.3x 6.41x 7.72x 11.1x 10.7x 9.62x 5.38x
EV / FCF 14.7x 7.84x 7.77x 13.5x 16.1x 23.7x 17x -
FCF Yield 6.82% 12.8% 12.9% 7.43% 6.2% 4.22% 5.9% -
Dividend per Share 2 0.6 0.6 0.6 0.66 0.69 0.72 0.739 0.72
Rate of return 8.11% 6.69% 7.04% 6.03% 4.68% 4.76% 4.89% 4.76%
EPS 2 -2.31 0.99 1.52 1.04 1.22 1.349 1.561 -
Distribution rate -26% 60.6% 39.5% 63.5% 56.6% 53.4% 47.4% -
Net sales 1 1,369 1,813 1,847 1,787 1,998 2,271 2,330 2,384
EBITDA 1 280.4 430.9 502.6 470.8 507.4 504.9 533.2 549
EBIT 1 40.76 213.9 285.1 282.2 260 270.8 293.1 315.3
Net income 1 -235.2 109.1 249.3 126.9 139.4 156 173 -
Net Debt 1 1,178 954.5 830.5 864.2 1,180 1,197 1,124 -
Reference price 2 7.40 8.97 8.52 10.94 14.75 15.12 15.12 15.12
Nbr of stocks (in thousands) 1,04,109 1,15,431 1,16,921 1,20,261 1,15,298 1,12,161 - -
Announcement Date 22/02/22 22/02/23 20/02/24 28/02/25 25/02/26 - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
11.21x1.27x5.73x4.76% 122.58Cr
27.5x4.26x13.69x2.1% 13TCr
16.58x5.97x31.16x2.87% 5.65TCr
58.75x1.37x9.6x5.91% 3.99TCr
12.64x1.28x6.88x2.68% 3.62TCr
10.09x3.26x7.66x4.3% 2.64TCr
75.6x13.71x49.9x0.07% 2.06TCr
8.68x0.87x5.34x4.35% 2.05TCr
19.54x0.86x6.57x1.19% 2.05TCr
11.33x1.02x8.2x3.7% 1.99TCr
Average 25.19x 3.39x 14.47x 3.19% 3.68TCr
Weighted average by Cap. 26.76x 3.81x 15.66x 2.9%

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
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