Financials Loblaw Companies Limited

Equities

Market Closed - Toronto S.E. Other stock markets 04:00:00 2024-12-09 pm EST			5-day change	1st Jan Change
192.63 ^CAD	+0.48%		+4.58%	+50.16%

Dec. 09	Loblaw Price Target Raised to $217 at RBC	MT
Dec. 09	Loblaw Brief: Together with all accrued and unpaid dividends up to but excluding the Redemption Date in amount of $0.02944 per Series B Share, less any tax	MT

Fiscal Period: Dezember	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	48,037	52,714	53,170	56,504	59,529	61,075	63,344	65,373
Change	-	9.74%	0.87%	6.27%	5.35%	2.6%	3.72%	3.2%
EBITDA ¹	4,912	5,041	5,587	6,181	6,647	6,908	7,237	7,464
Change	-	2.63%	10.83%	10.63%	7.54%	3.93%	4.76%	3.13%
EBIT ¹	2,896	2,954	3,429	3,883	4,240	4,453	4,756	4,999
Change	-	2%	16.08%	13.24%	9.19%	5.02%	6.8%	5.12%
Interest Paid ¹	-747	-742	-684	-694	-803	-832.6	-865.6	-780
Earnings before Tax (EBT)	1,523	1,623	2,442	2,659	-	-	-	-
Change	-	6.57%	50.46%	8.89%	-100%	-	-	-
Net income ¹	1,081	1,096	1,863	1,909	2,088	2,228	2,249	2,171
Change	-	1.39%	69.98%	2.47%	9.38%	6.7%	0.94%	-3.47%
Announcement Date	2/20/20	2/25/21	2/24/22	2/23/23	2/22/24	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	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	2025 Q3	2025 Q4
Net sales ¹	11,590	11,800	11,957	15,671	13,286	11,872	12,491	16,050	12,757	12,262	12,847	17,388	14,007	12,995	13,738	18,265	14,531	13,581	13,947	18,538	14,920	14,037	14,482	19,219	15,452
Change	-	1.81%	1.33%	31.06%	-15.22%	-10.64%	5.21%	28.49%	-20.52%	-3.88%	4.77%	35.35%	-19.44%	-7.22%	5.72%	32.95%	-20.44%	-6.54%	2.69%	32.92%	-19.52%	-5.91%	3.17%	32.71%	-19.6%
EBITDA ¹	1,205	1,169	1,016	1,524	1,332	1,218	1,371	1,674	1,324	1,343	1,499	1,846	1,493	1,448	1,640	1,926	1,633	1,544	1,713	2,069	1,693	1,608	1,803	2,196	1,792
Change	-	-2.99%	-13.09%	50%	-12.6%	-8.56%	12.56%	22.1%	-20.91%	1.44%	11.62%	23.15%	-19.12%	-3.01%	13.26%	17.44%	-15.21%	-5.45%	10.95%	20.78%	-18.18%	-5.01%	12.1%	21.81%	-18.39%
EBIT ¹	732	694	536	884	840	725	874	1,012	818	829	980	1,133	941	887	1,085	1,200	1,068	968	1,149	1,321	1,116	1,054	1,234	1,431	1,207
Change	-	-5.19%	-22.77%	64.93%	-4.98%	-13.69%	20.55%	15.79%	-19.17%	1.34%	18.21%	15.61%	-16.95%	-5.74%	22.32%	10.6%	-11%	-9.36%	18.7%	14.97%	-15.52%	-5.56%	17.08%	15.96%	-15.65%
Charge d'intérêts ¹	-176	-172	-176	-228	-166	-160	-161	-203	-160	-142	-152	-217	-172	-181	-193	-234	-195	-194	-190	-248	-202	-202	-202	-264	-203
Earnings before Tax (EBT)	365	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-100%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	257	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-100%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	2/20/20	4/29/20	7/23/20	11/12/20	2/25/21	5/5/21	7/28/21	11/17/21	2/24/22	5/4/22	7/27/22	11/16/22	2/23/23	5/3/23	7/26/23	11/15/23	2/22/24	5/1/24	7/25/24	11/13/24	-	-	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	15,761	5,770	14,114	6,557	17,323	10,050	10,083	6,497
Change	-	-63.39%	144.61%	-53.54%	164.19%	-41.98%	0.33%	-35.56%
Announcement Date	2/20/20	2/25/21	2/24/22	2/23/23	2/22/24	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	817	820	1,182	1,571	2,072	1,977	1,950	1,972
Change	-	0.37%	44.15%	32.91%	31.89%	-4.6%	-1.33%	1.11%
Free Cash Flow (FCF) ¹	1,209	2,247	1,959	1,528	3,582	1,720	2,068	2,349
Change	-	85.86%	-12.82%	-22%	134.42%	-51.99%	20.26%	13.59%
Announcement Date	2/20/20	2/25/21	2/24/22	2/23/23	2/22/24	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	10.23%	9.56%	10.51%	10.94%	11.17%	11.31%	11.42%	11.42%
EBIT Margin (%)	6.03%	5.6%	6.45%	6.87%	7.12%	7.29%	7.51%	7.65%
EBT Margin (%)	3.17%	3.08%	4.59%	4.71%	-	-	-	-
Net margin (%)	2.25%	2.08%	3.5%	3.38%	3.51%	3.65%	3.55%	3.32%
FCF margin (%)	2.52%	4.26%	3.68%	2.7%	6.02%	2.82%	3.26%	3.59%
FCF / Net Income (%)	111.84%	205.02%	105.15%	80.04%	171.55%	77.18%	91.95%	108.2%
Profitability
ROA	3.25%	3.04%	5.14%	5.11%	5.41%	6.57%	6.87%	6.75%
ROE	9.26%	9.86%	16.52%	16.69%	18.35%	22%	23.6%	24.6%
Financial Health
Leverage (Debt/EBITDA)	3.21x	1.14x	2.53x	1.06x	2.61x	1.45x	1.39x	0.87x
Debt / Free cash flow	13.04x	2.57x	7.2x	4.29x	4.84x	5.84x	4.88x	2.77x
Capital Intensity
CAPEX / Current Assets (%)	1.7%	1.56%	2.22%	2.78%	3.48%	3.24%	3.08%	3.02%
CAPEX / EBITDA (%)	16.63%	16.27%	21.16%	25.42%	31.17%	28.61%	26.95%	26.42%
CAPEX / FCF (%)	67.58%	36.49%	60.34%	102.81%	57.84%	114.94%	94.31%	83.95%
Items per share
Cash flow per share ¹	10.75	14.49	14.12	14.34	-	-	-	-
Change	-	34.82%	-2.55%	1.51%	-	-	-	-
Dividend per Share ¹	1.24	1.28	1.4	1.58	1.743	2.001	2.178	2.32
Change	-	3.23%	9.37%	12.86%	10.32%	14.82%	8.84%	6.51%
Book Value Per Share ¹	30.75	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EPS ¹	2.9	3.06	5.45	5.75	6.52	7.15	7.62	7.77
Change	-	5.52%	78.1%	5.5%	13.39%	9.66%	6.57%	1.97%
Nbr of stocks (in thousands)	363,461	348,838	333,443	324,023	313,125	304,735	304,735	304,735
Announcement Date	2/20/20	2/25/21	2/24/22	2/23/23	2/22/24	-	-	-