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 1,898 -
Change - 34.4% -3.79% 32.07% 29.26% 11.62% -
Enterprise Value (EV) 1 1,948 1,990 1,827 2,180 2,881 3,121 3,042
Change - 2.14% -8.21% 19.34% 32.16% 8.34% -2.55%
P/E -3.2x 9.06x 5.61x 10.5x 12.1x 12.1x 10.5x
PBR - - - 2.06x 2.17x 2.46x 2.13x
PEG - -0x 0.1x -0.3x 0.7x 0.8x 0.7x
Capitalization / Revenue 0.56x 0.57x 0.54x 0.74x 0.85x 0.87x 0.84x
EV / Revenue 1.42x 1.1x 0.99x 1.22x 1.44x 1.44x 1.35x
EV / EBITDA 6.95x 4.62x 3.63x 4.63x 5.68x 6.14x 5.69x
EV / EBIT 47.8x 9.3x 6.41x 7.72x 11.1x 11.1x 10.3x
EV / FCF 14.7x 7.84x 7.77x 13.5x 16.1x 22.2x 17x
FCF Yield 6.82% 12.8% 12.9% 7.43% 6.2% 4.51% 5.87%
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% 4.21% 4.34%
EPS 2 -2.31 0.99 1.52 1.04 1.22 1.412 1.617
Distribution rate -26% 60.6% 39.5% 63.5% 56.6% 50.8% 45.7%
Net sales 1 1,369 1,813 1,847 1,787 1,998 2,170 2,254
EBITDA 1 280.4 430.9 502.6 470.8 507.4 508.5 534.1
EBIT 1 40.76 213.9 285.1 282.2 260 281.5 296.1
Net income 1 -235.2 109.1 249.3 126.9 139.4 148.8 168.8
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 17.03 17.03
Nbr of stocks (in thousands) 104,109 115,431 116,921 120,261 115,298 111,465 -
Announcement Date 2/22/22 2/22/23 2/20/24 2/28/25 2/25/26 - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.06x1.44x6.14x4.21% 1.35B
28.63x4.4x14.21x1.99% 130B
19.15x5.61x38.75x2.06% 51.82B
52.34x1.4x8.85x6% 41.81B
11.81x1.16x6.58x2.59% 32.17B
9.96x2.95x7.3x4.44% 23.66B
6.3x0.81x5.29x4.72% 18.9B
98.35x17.03x64.08x0.06% 17.23B
29.64x2.4x13.6x0.43% 17.27B
19.77x - - 2.01% 17.08B
Average 28.80x 4.13x 18.31x 2.85% 35.1B
Weighted average by Cap. 29.03x 4.13x 18.13x 2.68%

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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