Financials GFL Environmental Inc.

Equities

GFL

CA36168Q1046

Environmental Services & Equipment

Delayed Toronto S.E. 01:51:15 2024-06-13 pm EDT 5-day change 1st Jan Change
51.48 CAD +0.10% Intraday chart for GFL Environmental Inc. -2.33% +12.67%

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 12,111 16,076 13,578 16,912 19,362 - -
Enterprise Value (EV) 1 18,544 25,492 22,763 25,613 28,551 28,004 27,538
P/E ratio -13.3 x -26.1 x -36.6 x -352 x -817 x 102 x 76.2 x
Yield 0.14% 0.12% 0.16% 0.15% 0.13% 0.14% 0.16%
Capitalization / Revenue 2.89 x 2.91 x 2.01 x 2.25 x 2.4 x 2.25 x 2.1 x
EV / Revenue 4.42 x 4.61 x 3.37 x 3.41 x 3.54 x 3.25 x 2.99 x
EV / EBITDA 17.2 x 17.4 x 13.2 x 12.8 x 12.8 x 11.3 x 10.2 x
EV / FCF 251 x 102 x 72 x 36.5 x 35.3 x 29.3 x 24.8 x
FCF Yield 0.4% 0.98% 1.39% 2.74% 2.84% 3.41% 4.03%
Price to Book 2.35 x 2.8 x 2.4 x 2.35 x 2.85 x 2.8 x 2.96 x
Nbr of stocks (in thousands) 326,364 336,113 343,404 369,985 376,471 - -
Reference price 2 37.11 47.83 39.54 45.71 51.43 51.43 51.43
Announcement Date 2/22/21 2/9/22 2/21/23 2/20/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,347 4,196 5,526 6,761 7,516 8,066 8,606 9,204
EBITDA 1 - 1,077 1,464 1,721 2,004 2,237 2,474 2,704
EBIT 1 - -318.3 -64.3 67.2 295.5 571.9 822.7 1,390
Operating Margin - -7.59% -1.16% 0.99% 3.93% 7.09% 9.56% 15.1%
Earnings before Tax (EBT) 1 - -1,356 -712.8 -359.3 192.1 -59.26 365.6 479.7
Net income 1 - -994.9 -606.8 -311.8 45.4 -32.57 204.2 374.2
Net margin - -23.71% -10.98% -4.61% 0.6% -0.4% 2.37% 4.07%
EPS 2 -0.1200 -2.800 -1.830 -1.080 -0.1300 -0.0630 0.5055 0.6752
Free Cash Flow 1 - 73.9 250.7 316.2 701.2 809.7 955.3 1,109
FCF margin - 1.76% 4.54% 4.68% 9.33% 10.04% 11.1% 12.05%
FCF Conversion (EBITDA) - 6.86% 17.13% 18.38% 35% 36.2% 38.62% 41.01%
FCF Conversion (Net income) - - - - 1,544.49% - 467.81% 296.35%
Dividend per Share 2 - 0.0508 0.0557 0.0651 0.0703 0.0678 0.0719 0.0800
Announcement Date 2/18/20 2/22/21 2/9/22 2/21/23 2/20/24 - - -
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 1,540 1,401 1,708 1,831 1,821 1,799 1,944 1,890 1,883 1,801 2,061 2,127 2,073 1,943 2,192
EBITDA 1 388.3 354.4 453.3 473.3 439.8 440.5 540.7 530.3 492.2 455.7 588.3 624.1 575.4 521.1 649.9
EBIT 1 -62 -26.9 47.1 51.8 -4.8 30 118.8 128.5 18.2 21.8 190.9 222.3 142.3 100.6 255.4
Operating Margin -4.03% -1.92% 2.76% 2.83% -0.26% 1.67% 6.11% 6.8% 0.97% 1.21% 9.26% 10.45% 6.86% 5.18% 11.65%
Earnings before Tax (EBT) 1 -90.9 115.2 34.7 -259.5 -249.7 -259.9 532.7 0.3 -81 -230.1 28.35 85.63 14.12 -78 72
Net income 1 -77.4 27.4 64.3 -183.5 -220 -219.4 294.9 22.1 -52.2 -172.8 31.23 80.63 28.97 -59 52
Net margin -5.03% 1.96% 3.77% -10.02% -12.08% -12.19% 15.17% 1.17% -2.77% -9.59% 1.52% 3.79% 1.4% -3.04% 2.37%
EPS 2 -0.2500 0.0200 0.1200 -0.5500 -0.6600 -0.6600 0.7200 - -0.2100 -0.5300 0.0739 0.2014 0.0336 -0.1373 0.1584
Dividend per Share 2 0.0139 0.0154 0.0155 0.0165 0.0163 - 0.0176 - 0.0176 - 0.0197 0.0196 0.0201 0.0189 0.0211
Announcement Date 2/9/22 5/4/22 7/27/22 11/2/22 2/21/23 4/27/23 7/26/23 11/1/23 2/20/24 5/1/24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - 6,433 9,416 9,185 8,701 9,189 8,642 8,176
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - 5.975 x 6.433 x 5.337 x 4.343 x 4.108 x 3.494 x 3.024 x
Free Cash Flow 1 - 73.9 251 316 701 810 955 1,109
ROE (net income / shareholders' equity) - -23.6% -10.7% -5.28% 5.43% 6.92% 6.22% 11.7%
ROA (Net income/ Total Assets) - 0.44% - 0.93% 1.81% 1.77% 2.57% -
Assets 1 - -224,365 - -33,408 2,509 -1,840 7,961 -
Book Value Per Share 2 - 15.80 17.10 16.40 19.40 18.00 18.40 17.40
Cash Flow per Share 2 - 1.390 2.480 2.990 2.650 4.380 5.010 -
Capex 1 - 428 647 780 1,055 1,149 1,063 1,122
Capex / Sales - 10.21% 11.71% 11.54% 14.04% 14.25% 12.36% 12.19%
Announcement Date 2/18/20 2/22/21 2/9/22 2/21/23 2/20/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
17
Last Close Price
51.43 CAD
Average target price
54.75 CAD
Spread / Average Target
+6.46%
Consensus
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