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 1,676 - -
Change - 34.4% -3.79% 32.07% 29.26% -1.47% - -
Enterprise Value (EV) 1 1,948 1,990 1,827 2,180 2,881 2,873 2,799 1,676
Change - 2.14% -8.21% 19.34% 32.16% -0.29% -2.56% -40.14%
P/E -3.2x 9.06x 5.61x 10.5x 12.1x 11.1x 9.57x -
PBR - - - 2.06x 2.17x 1.98x 1.78x -
PEG - -0x 0.1x -0.3x 0.7x 1.1x 0.6x -
Capitalization / Revenue 0.56x 0.57x 0.54x 0.74x 0.85x 0.74x 0.72x 0.7x
EV / Revenue 1.42x 1.1x 0.99x 1.22x 1.44x 1.27x 1.2x 0.7x
EV / EBITDA 6.95x 4.62x 3.63x 4.63x 5.68x 5.69x 5.25x 3.05x
EV / EBIT 47.8x 9.3x 6.41x 7.72x 11.1x 10.6x 9.55x 5.31x
EV / FCF 14.7x 7.84x 7.77x 13.5x 16.1x 23.5x 16.8x -
FCF Yield 6.82% 12.8% 12.9% 7.43% 6.2% 4.25% 5.94% -
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% 4.82% 4.95% 4.82%
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 14.94 14.94 14.94
Nbr of stocks (in thousands) 104,109 115,431 116,921 120,261 115,298 112,161 - -
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.($)
11.29x1.28x5.75x4.73% 1.23B
27.13x4.24x13.62x2.16% 125B
18.02x6.71x42.93x2.07% 60.65B
58.16x1.35x9.5x5.97% 39.5B
12.42x1.26x6.79x2.72% 35.53B
10.22x3.3x7.75x4.25% 26.74B
20.16x0.87x6.68x1.15% 21.13B
11.52x1.03x8.28x3.64% 20.26B
8.9x0.88x5.43x4.24% 21.02B
70.88x12.86x46.8x0.07% 19.12B
Average 24.87x 3.38x 15.35x 3.1% 37.05B
Weighted average by Cap. 26.24x 3.86x 17.43x 2.8%

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