Financials Pembina Pipeline Corporation Nyse

Equities

PBA

CA7063271034

Oil & Gas Transportation Services

Market Closed - Nyse Other stock markets 01:30:02 18/05/2024 am IST			5-day change	1st Jan Change
36.94 ^USD	-0.43%		+0.27%	+7.32%

17/05	Pembina Pipeline "Outperform" Rating, $58 Target Price Maintained by RBC Capital Markets	MT
17/05	Scotiabank Adjusts Price Target on Pembina Pipeline to $41.10 From $40.44, Keeps Sector Outperform Rating	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	24,639	16,553	21,117	25,253	25,062	29,150	-	-
Enterprise Value (EV) ¹	35,481	27,348	32,313	35,759	35,424	43,336	42,447	41,808
P/E ratio	18.2 x	-35 x	19.3 x	8.98 x	15.3 x	15.9 x	15.1 x	14.2 x
Yield	4.9%	8.37%	6.57%	5.55%	5.83%	5.46%	5.64%	5.77%
Capitalization / Revenue	3.41 x	2.67 x	2.45 x	2.17 x	2.75 x	3.26 x	3.05 x	2.86 x
EV / Revenue	4.91 x	4.41 x	3.75 x	3.08 x	3.88 x	4.85 x	4.44 x	4.11 x
EV / EBITDA	11.6 x	8.34 x	9.41 x	9.55 x	9.26 x	10.3 x	9.7 x	9.27 x
EV / FCF	40 x	22.4 x	16.2 x	15.4 x	17.5 x	21.6 x	16.7 x	15.5 x
FCF Yield	2.5%	4.47%	6.16%	6.5%	5.73%	4.62%	5.99%	6.45%
Price to Book	1.58 x	1.11 x	1.48 x	1.62 x	1.59 x	2.11 x	2.15 x	2.15 x
Nbr of stocks (in thousands)	5,11,928	5,49,942	5,50,363	5,49,455	5,49,370	5,79,521	-	-
Reference price ²	48.13	30.10	38.37	45.96	45.62	50.30	50.30	50.30
Announcement Date	27/02/20	25/02/21	24/02/22	23/02/23	22/02/24	-	-	-

¹CAD in Million²CAD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	7,230	6,202	8,627	11,611	9,125	8,944	9,567	10,181
EBITDA ¹	3,061	3,281	3,433	3,746	3,824	4,203	4,374	4,512
EBIT ¹	2,550	2,581	2,710	3,063	3,161	3,443	3,529	3,696
Operating Margin	35.27%	41.62%	31.41%	26.38%	34.64%	38.49%	36.88%	36.3%
Earnings before Tax (EBT) ¹	1,528	-416	1,665	3,219	2,189	2,407	2,645	2,797
Net income ¹	1,361	-476	1,098	2,842	1,648	1,803	1,934	2,073
Net margin	18.82%	-7.67%	12.73%	24.48%	18.06%	20.16%	20.21%	20.36%
EPS ²	2.650	-0.8600	1.990	5.120	2.990	3.161	3.331	3.545
Free Cash Flow ¹	887	1,223	1,992	2,324	2,029	2,004	2,543	2,698
FCF margin	12.27%	19.72%	23.09%	20.02%	22.24%	22.41%	26.58%	26.5%
FCF Conversion (EBITDA)	28.98%	37.28%	58.03%	62.04%	53.06%	47.69%	58.14%	59.79%
FCF Conversion (Net income)	65.17%	-	181.42%	81.77%	123.12%	111.16%	131.52%	130.15%
Dividend per Share ²	2.360	2.520	2.520	2.550	2.660	2.745	2.838	2.902
Announcement Date	27/02/20	25/02/21	24/02/22	23/02/23	22/02/24	-	-	-

¹CAD in Million²CAD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	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
Net sales ¹	2,560	3,038	3,095	2,779	2,699	2,297	2,070	2,292	2,466	1,540	1,953	2,024	2,261	-	-
EBITDA ¹	970	1,006	849	967	925	947	823	1,021	1,033	1,044	989.5	1,061	1,120	1,102	1,088
EBIT ¹	790	829	651	821	763	792	657	-	855	888	808	884	897	808.5	-
Operating Margin	30.86%	27.29%	21.03%	29.54%	28.27%	34.48%	31.74%	-	34.67%	57.66%	41.37%	43.68%	39.67%	-	-
Earnings before Tax (EBT) ¹	133	-	-	-	-	-	-	-	-	529	557	664	680	-	-
Net income ¹	44	448	418	1,795	214	338	328	316	666	404	392	433	486	-	-
Net margin	1.72%	14.75%	13.51%	64.59%	7.93%	14.71%	15.85%	13.79%	27.01%	26.23%	20.07%	21.39%	21.49%	-	-
EPS ²	0.0800	0.8100	0.6900	3.230	0.3900	0.6100	0.6000	0.5700	1.210	0.7300	0.7039	0.7424	0.8480	3.260	0.8300
Dividend per Share ²	0.6300	0.6300	0.6300	0.6400	0.6500	0.6500	0.6700	0.6700	0.6700	-	0.6900	0.6900	0.6900	0.6988	0.7300
Announcement Date	24/02/22	05/05/22	04/08/22	03/11/22	23/02/23	04/05/23	03/08/23	02/11/23	22/02/24	09/05/24	-	-	-	-	-

¹CAD in Million²CAD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	10,842	10,795	11,196	10,506	10,362	14,186	13,297	12,658
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.542 x	3.29 x	3.261 x	2.805 x	2.71 x	3.375 x	3.04 x	2.806 x
Free Cash Flow ¹	887	1,223	1,992	2,324	2,029	2,004	2,543	2,698
ROE (net income / shareholders' equity)	10.6%	7.33%	8.28%	12.1%	10.4%	11.9%	12%	12.7%
ROA (Net income/ Total Assets)	5.52%	3.63%	3.85%	3.49%	5.14%	5.4%	5.73%	6.35%
Assets ¹	24,670	-13,121	28,512	81,444	32,052	33,389	33,776	32,643
Book Value Per Share ²	30.50	27.20	26.00	28.40	28.80	23.90	23.40	23.40
Cash Flow per Share ²	4.940	4.100	4.820	5.300	4.790	5.070	5.360	5.300
Capex ¹	1,645	1,029	658	605	606	907	769	832
Capex / Sales	22.75%	16.59%	7.63%	5.21%	6.64%	10.14%	8.04%	8.17%
Announcement Date	27/02/20	25/02/21	24/02/22	23/02/23	22/02/24	-	-	-

¹CAD in Million²CAD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Pembina Pipeline Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

50.3 CAD

Average target price

54.12 CAD

Spread / Average Target

+7.60%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Other Oil & Gas Transportation Services