Financials Decisive Dividend Corporation

Equities

DE

CA24345T1003

Electrical Components & Equipment

Market Closed - Toronto S.E. Other stock markets 03:59:57 2024-05-09 pm EDT			5-day change	1st Jan Change
8.38 ^CAD	-14.05%		-13.25%	+5.14%

Apr. 15	Decisive Dividend Corporation Declares Dividend for the Month of May 2024, Payable on May 15, 2024	CI
Apr. 11	Decisive Dividend Closes Purchase of Techbelt	MT

Valuation

Fiscal Period: December	2022	2023	2024	2025
Capitalization ¹	74.2	150.7	188.6	-
Enterprise Value (EV) ¹	108.5	150.7	244.3	234.2
P/E ratio	17.3 x	17.7 x	16.3 x	12.1 x
Yield	-	5.52%	5.59%	6.26%
Capitalization / Revenue	0.75 x	1.12 x	1.21 x	1.06 x
EV / Revenue	1.1 x	1.12 x	1.57 x	1.32 x
EV / EBITDA	7.94 x	5.98 x	8.08 x	6.4 x
EV / FCF	17.3 x	-	15.1 x	12.2 x
FCF Yield	5.8%	-	6.64%	8.2%
Price to Book	-	-	-	-
Nbr of stocks (in thousands)	14,781	18,911	19,348	-
Reference price ²	5.020	7.970	9.750	9.750
Announcement Date	3/23/23	3/20/24	-	-

¹CAD in Million²CAD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2022	2023	2024	2025
Net sales ¹	98.59	134.9	155.5	177.9
EBITDA ¹	13.67	25.2	30.24	36.6
EBIT ¹	5.017	-	18.5	24.8
Operating Margin	5.09%	-	11.9%	13.94%
Earnings before Tax (EBT)	-	-	-	-
Net income ¹	-	8.333	11.52	16.85
Net margin	-	6.18%	7.41%	9.47%
EPS ²	0.2900	0.4500	0.6000	0.8033
Free Cash Flow ¹	6.287	-	16.23	19.2
FCF margin	6.38%	-	10.44%	10.79%
FCF Conversion (EBITDA)	46%	-	53.69%	52.46%
FCF Conversion (Net income)	-	-	140.85%	113.94%
Dividend per Share ²	-	0.4400	0.5450	0.6100
Announcement Date	3/23/23	3/20/24	-	-

¹CAD in Million²CAD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	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	-	30.78	30.85	30.71	37.65	35.67	29.35	37.04	41.84	42.53	41.9	37.6
EBITDA ¹	-	4.018	4.894	5.266	7.862	7.181	3.965	6.669	8.661	8.69	7.35	7.45
EBIT	-	1.134	-	2.499	3.874	-	-	-	-	-	-	-
Operating Margin	-	3.68%	-	8.14%	10.29%	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	3.992	-	-	-	-	-	-	-
Net income ¹	2.029	-	1.966	1.201	2.739	2.424	0.187	2.5	3.506	3.792	-	-
Net margin	-	-	6.37%	3.91%	7.27%	6.8%	0.64%	6.75%	8.38%	8.92%	-	-
EPS ²	0.1500	-	0.1200	0.0600	0.1400	0.1200	0.0100	0.1167	0.1800	0.1867	-	-
Dividend per Share ²	-	-	-	-	0.1200	0.1200	-	0.1400	0.1400	0.1400	-	-
Announcement Date	11/2/22	3/23/23	5/10/23	8/10/23	11/6/23	3/20/24	5/8/24	-	-	-	-	-

¹CAD in Million²CAD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2022	2023	2024	2025
Net Debt ¹	34.3	-	55.7	45.5
Net Cash position ¹	-	-	-	-
Leverage (Debt/EBITDA)	2.508 x	-	1.842 x	1.244 x
Free Cash Flow ¹	6.29	-	16.2	19.2
ROE (net income / shareholders' equity)	-	-	-	-
ROA (Net income/ Total Assets)	-	-	-	-
Assets ¹	-	-	-	-
Book Value Per Share	-	-	-	-
Cash Flow per Share ²	-	-	0.8300	1.120
Capex ¹	2.14	-	4.55	4.51
Capex / Sales	2.17%	-	2.93%	2.53%
Announcement Date	3/23/23	3/20/24	-	-

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 Decisive Dividend Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

9.75 CAD

Average target price

12.21 CAD

Spread / Average Target

+25.21%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Heating, Ventilation & Air Conditioning Systems

	1st Jan change	Capi.
DECISIVE DIVIDEND CORPORATION	+5.14%	137M
TRANE TECHNOLOGIES PLC	+36.50%	74.15B
CARRIER GLOBAL CORPORATION	+13.56%	57.94B
JOHNSON CONTROLS INTERNATIONAL PLC	+14.05%	43.95B
DAIKIN INDUSTRIES, LTD.	+7.55%	41.92B
WATSCO, INC.	+10.17%	17.47B
LENNOX INTERNATIONAL INC.	+9.20%	17.12B
A. O. SMITH CORPORATION	+4.79%	12.55B
NIBE INDUSTRIER AB	-22.85%	10.1B
AAON, INC.	+5.25%	6.33B

Heating, Ventilation & Air Conditioning Systems