Balance Sheet Exchange Income Corporation

Equities

EIF

CA3012831077

Airlines

Market Closed - Toronto S.E. Other stock markets 01:45:26 10/09/2024 am IST			5-day change	1st Jan Change
48.69 ^CAD	+1.56%		-1.42%	+7.96%

03/09	TSX Closer: The Market Closes with a Sharp Drop as Commodities Weaken on China Data Ahead of Expected Rate Cut	MT
28/08	Exchange Income Corporation Marks Atik Mason Indigenous Pilot Pathway's Expansion to Rankin Inlet, Nunavut	CI

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Published financial data: EXCHANGE INCOME CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	1.34B	1.15B	1.41B	2.06B	2.5B
Total Revenues	1.34B	1.15B	1.41B	2.06B	2.5B
Cost of Goods Sold, Total	808M	693M	892M	1.35B	1.64B
Gross Profit	533M	457M	521M	711M	860M
Selling General & Admin Expenses, Total	204M	172M	191M	255M	305M
Depreciation & Amortization - (IS)	152M	165M	169M	199M	246M
Amortization of Goodwill and Intangible Assets - (IS)	18.2M	17.57M	16.9M	20.9M	20.24M
Other Operating Expenses, Total	374M	355M	377M	474M	571M
Operating Income	159M	102M	143M	237M	290M
Interest Expense, Total	-58.52M	-50.93M	-52.2M	-78.42M	-120M
Net Interest Expenses	-58.52M	-50.93M	-52.2M	-78.42M	-120M
EBT, Excl. Unusual Items	100M	50.76M	91.3M	158M	170M
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-5.05M	-1.82M	-3.03M	-6.85M	-7.77M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Asset Writedown	-	-6.12M	-	-	-
Other Unusual Items	10.62M	177K	6M	-	951K
EBT, Incl. Unusual Items	106M	43M	94.26M	151M	163M
Income Tax Expense	22.21M	14.94M	25.68M	41.8M	40.79M
Earnings From Continuing Operations	83.64M	28.06M	68.59M	110M	122M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	83.64M	28.06M	68.59M	110M	122M
Net Income - (IS)	83.64M	28.06M	68.59M	110M	122M
Net Income to Common Incl Extra Items	83.64M	28.06M	68.59M	110M	122M
Net Income to Common Excl. Extra Items	83.64M	28.06M	68.59M	110M	122M
Per Share Items
Net EPS - Basic	2.58	0.8	1.84	2.72	2.72
Basic EPS - Continuing Operations	2.58	0.8	1.84	2.72	2.72
Basic Weighted Average Shares Outstanding	32.44M	35.05M	37.27M	40.35M	44.97M
Net EPS - Diluted	2.49	0.78	1.8	2.64	2.65
Diluted EPS - Continuing Operations	2.49	0.78	1.8	2.64	2.65
Diluted Weighted Average Shares Outstanding	38.09M	35.98M	38.09M	47.31M	51.99M
Normalized Basic EPS	1.93	0.91	1.53	2.45	2.36
Normalized Diluted EPS	1.65	0.88	1.5	2.09	2.04
Dividend Per Share	2.23	2.28	2.28	2.41	2.54
Payout Ratio	86.97	285.2	124.49	88.88	93.69
Supplemental Items
EBITDA	306M	258M	303M	423M	516M
EBITA	176M	118M	158M	255M	308M
EBIT	159M	102M	143M	237M	290M
EBITDAR	313M	266M	311M	432M	526M
Total Revenues (As Reported)	1.34B	1.15B	1.41B	2.06B	2.5B
Effective Tax Rate - (Ratio)	20.98	34.76	27.24	27.6	25.01
Total Current Taxes	11.79M	17.01M	17.74M	21.87M	26.02M
Total Deferred Taxes	10.42M	-2.06M	7.93M	19.93M	14.77M
Normalized Net Income	62.67M	31.72M	57.06M	98.95M	106M
Interest on Long-Term Debt	58.52M	50.93M	52.2M	78.42M	120M
Supplemental Operating Expense Items
Advertising Expense	4.06M	2.98M	7.4M	5.67M	6.34M
General and Administrative Expenses	204M	172M	191M	255M	305M
Net Rental Expense, Total	7.06M	8.29M	7.47M	8.51M	10.15M
Imputed Operating Lease Interest Expense	3.1M	2.85M	2.49M	3.47M	5.12M
Imputed Operating Lease Depreciation	3.96M	5.44M	4.98M	5.04M	5.04M
Stock-Based Comp., G&A Exp. (Total)	1.11M	1.99M	-	5.82M	8.16M
Stock-Based Comp., Other (Total)	3.8M	2.19M	2.23M	2.07M	2.32M
Total Stock-Based Compensation	4.91M	4.18M	2.23M	7.9M	10.48M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	22.06M	69.86M	75.41M	140M	104M
Total Cash And Short Term Investments	22.06M	69.86M	75.41M	140M	104M
Accounts Receivable, Total	309M	285M	329M	468M	584M
Other Receivables	1.57M	-	-	-	-
Total Receivables	310M	285M	329M	468M	584M
Inventory	225M	236M	255M	335M	408M
Prepaid Expenses	31.18M	27.97M	40.13M	103M	63.6M
Total Current Assets	588M	619M	700M	1.05B	1.16B
Gross Property Plant And Equipment	1.54B	1.61B	1.8B	2.27B	2.72B
Accumulated Depreciation	-466M	-570M	-651M	-829M	-978M
Net Property Plant And Equipment	1.07B	1.04B	1.15B	1.44B	1.74B
Long-term Investments	42.37M	48.99M	58.83M	117M	129M
Goodwill	360M	398M	487M	626M	713M
Other Intangibles, Total	165M	162M	181M	300M	332M
Accounts Receivable Long-Term	-	-	-	-	894K
Loans Receivable Long-Term	15.57M	13.91M	563K	-	-
Deferred Tax Assets Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	22.26M	12.45M	7.27M	17.87M	4.27M
Total Assets	2.27B	2.29B	2.59B	3.55B	4.08B
Liabilities
Accounts Payable, Total	210M	214M	267M	451M	461M
Accrued Expenses, Total	-	523K	488K	638K	545K
Current Portion of Long-Term Debt	-	-	98.81M	-	-
Current Portion of Leases	23.28M	22.6M	20.6M	31.08M	36.87M
Current Income Taxes Payable	-	5.25M	4.58M	6.89M	7.27M
Unearned Revenue Current, Total	46.55M	52.97M	83.73M	90.58M	113M
Other Current Liabilities	-	-	-	-	-
Total Current Liabilities	280M	295M	475M	580M	619M
Long-Term Debt	1.04B	1.12B	1.1B	1.62B	1.84B
Long-Term Leases	90.58M	73.79M	69.4M	133M	143M
Unearned Revenue Non Current	-	-	1.86M	534K	-
Deferred Tax Liability Non Current	102M	97.66M	124M	178M	212M
Other Non Current Liabilities	27.09M	19.59M	14.85M	19.06M	21.28M
Total Liabilities	1.54B	1.61B	1.79B	2.53B	2.83B
Common Stock, Total	710M	731M	853M	1.02B	1.25B
Additional Paid In Capital	9.84M	9.84M	13.05M	16.64M	16.64M
Retained Earnings	-51.47M	-103M	-120M	-108M	-100M
Comprehensive Income and Other	61.93M	48.2M	54.64M	90.68M	76.26M
Total Common Equity	730M	686M	800M	1.02B	1.25B
Total Equity	730M	686M	800M	1.02B	1.25B
Total Liabilities And Equity	2.27B	2.29B	2.59B	3.55B	4.08B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	34.7M	35.47M	38.74M	42.48M	47.14M
ECS Total Common Shares Outstanding	34.7M	35.47M	38.74M	42.48M	47.14M
Book Value / Share	21.03	19.34	20.66	23.99	26.42
Tangible Book Value	205M	127M	133M	92.34M	200M
Tangible Book Value Per Share	5.92	3.57	3.43	2.17	4.24
Total Debt	1.15B	1.22B	1.29B	1.78B	2.02B
Net Debt	1.13B	1.15B	1.22B	1.64B	1.92B
Debt Equivalent Oper. Leases	56.52M	66.33M	59.76M	68.1M	81.23M
Equity Method Investments, Total	36.48M	41.02M	47.8M	102M	115M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	83.31M	70.94M	75.27M	108M	121M
Inventories - Work In Process, Total	4.03M	3.78M	8.32M	12.65M	17.11M
Inventories - Finished Goods, Total	138M	161M	172M	214M	271M
Land - (BS)	8.29M	8.28M	8.69M	9.5M	10.32M
Buildings, Total	129M	131M	140M	159M	167M
Machinery, Total	832M	921M	1.06B	1.28B	1.66B
Full Time Employees	-	-	-	-	-
Assets on Operating Lease - Gross	434M	429M	465M	603M	637M
Assets on Operating Lease - Accumulated Depreciation	-79.13M	-121M	-136M	-209M	-220M
Order Backlog	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	83.64M	28.06M	68.59M	110M	122M
Depreciation & Amortization - CF	152M	165M	169M	199M	246M
Amortization of Goodwill and Intangible Assets - (CF)	17.57M	16.36M	14.82M	18.44M	18.03M
Depreciation & Amortization, Total	169M	182M	184M	217M	264M
Amortization of Deferred Charges, Total - (CF)	844K	1.22M	2.08M	2.46M	2.21M
(Gain) Loss From Sale Of Asset	-1.22M	-1.94M	-3.9M	-3.15M	-4.67M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	-	6.12M	-	-	-
Stock-Based Compensation (CF)	2.81M	1.64M	1.27M	1.12M	1.5M
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	6.83M	4.8M	11.94M	29M	20.82M
Change In Accounts Receivable	-48.18M	52.91M	-8.76M	-72.74M	-3.67M
Change In Inventories	-13.76M	-14.4M	-16.38M	-43.7M	-52.94M
Change In Accounts Payable	18.11M	-10.77M	30.97M	154M	-36.97M
Change in Unearned Revenues	-1.09M	982K	30.62M	-1.94M	-4.25M
Change In Income Taxes	-2.14M	6.22M	-4.76M	-375K	5.33M
Change in Other Net Operating Assets	2M	3.51M	-10.92M	-56.69M	39.94M
Cash from Operations	217M	260M	285M	335M	353M
Capital Expenditure	-251M	-142M	-274M	-360M	-503M
Sale of Property, Plant, and Equipment	15.84M	13.26M	52.29M	85.01M	27.5M
Cash Acquisitions	-76.26M	-58.3M	-136M	-321M	-167M
Sale (Purchase) of Intangible assets	-4.31M	-4.6M	-5M	-6.71M	-2.57M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	-8.5M	-4.98M	4.9M	-53.02M	-5.78M
Cash from Investing	-324M	-196M	-358M	-655M	-651M
Long-Term Debt Issued, Total	284M	178M	498M	648M	489M
Total Debt Issued	284M	178M	498M	648M	489M
Long-Term Debt Repaid, Total	-209M	-125M	-432M	-296M	-299M
Total Debt Repaid	-209M	-125M	-432M	-296M	-299M
Issuance of Common Stock	86.16M	11.74M	99.17M	127M	187M
Repurchase of Common Stock	-2.19M	-	-	-	-
Common Dividends Paid	-72.74M	-80.01M	-85.39M	-97.47M	-115M
Common & Preferred Stock Dividends Paid	-72.74M	-80.01M	-85.39M	-97.47M	-115M
Other Financing Activities, Total	3M	-	-	-354K	-1.08M
Cash from Financing	88.86M	-15.15M	79.42M	381M	261M
Foreign Exchange Rate Adjustments	-3.24M	-739K	-980K	3.85M	-164K
Net Change in Cash	-20.92M	47.81M	5.55M	64.49M	-36.34M
Supplemental Items
Cash Interest Paid	46.29M	41.32M	35.52M	58.96M	107M
Cash Income Tax Paid (Refund)	13.36M	9.71M	22.7M	20.86M	20.16M
Levered Free Cash Flow	-66.82M	105M	-26.49M	-127M	-241M
Unlevered Free Cash Flow	-30.47M	137M	6.13M	-78.34M	-166M
Change In Net Working Capital	49.78M	-32.77M	-7.26M	87.55M	117M
Net Debt Issued / Repaid	74.64M	53.12M	65.64M	352M	190M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	4.7	2.79	3.67	4.82	4.75
Return on Total Capital	5.71	3.36	4.49	6.05	5.97
Return On Equity %	12.42	3.96	9.23	12.06	10.8
Return on Common Equity	12.42	3.96	9.23	12.06	10.8
Margin Analysis
Gross Profit Margin %	39.73	39.72	36.86	34.53	34.43
SG&A Margin	15.22	14.97	13.51	12.36	12.2
EBITDA Margin %	22.79	22.44	21.46	20.56	20.66
EBITA Margin %	13.15	10.27	11.2	12.39	12.32
EBIT Margin %	11.84	8.85	10.15	11.5	11.6
Income From Continuing Operations Margin %	6.24	2.44	4.85	5.33	4.9
Net Income Margin %	6.24	2.44	4.85	5.33	4.9
Net Avail. For Common Margin %	6.24	2.44	4.85	5.33	4.9
Normalized Net Income Margin	4.67	2.76	4.04	4.8	4.25
Levered Free Cash Flow Margin	-4.98	9.16	-1.87	-6.18	-9.63
Unlevered Free Cash Flow Margin	-2.27	11.93	0.43	-3.8	-6.64
Asset Turnover
Asset Turnover	0.64	0.5	0.58	0.67	0.66
Fixed Assets Turnover	1.37	1.09	1.29	1.59	1.57
Receivables Turnover (Average Receivables)	4.83	3.87	4.6	5.16	4.75
Inventory Turnover (Average Inventory)	3.67	3.01	3.63	4.57	4.41
Short Term Liquidity
Current Ratio	2.1	2.1	1.47	1.8	1.87
Quick Ratio	1.18	1.2	0.85	1.05	1.11
Operating Cash Flow to Current Liabilities	0.77	0.88	0.6	0.58	0.57
Days Sales Outstanding (Average Receivables)	75.57	94.52	79.39	70.69	76.84
Days Outstanding Inventory (Average Inventory)