Financials Nuvei Corporation

Equities

NVEI

CA67079A1021

Business Support Services

Market Closed - Toronto S.E. Other stock markets 04:00:00 2024-09-19 pm EDT			5-day change	1st Jan Change
45.28 ^CAD	-0.35%		+0.18%	+30.08%

Aug. 26	Nuvei and Fintech360 Announce A Cashier Solution	CI
Aug. 09	Barclays taps TD veteran Stephen Stewart as Canada M&A head	RE

Projected Income Statement: Nuvei Corporation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	245.8	375	724.5	843.3	1,190	1,390	1,591	1,838
Change	-	52.57%	93.18%	16.4%	41.1%	16.82%	14.46%	15.51%
EBITDA ¹	-	163	317.2	351.3	437.3	492.4	592.6	707.5
Change	-	-	94.64%	10.74%	24.49%	12.59%	20.34%	19.4%
EBIT ¹	-	64.1	145.5	80.93	116.9	194	262.4	545
Change	-	-	126.94%	-44.36%	44.44%	66%	35.22%	107.72%
Interest Paid ¹	-	-170.1	-16.88	-22.84	-121.3	-114	-91.8	-53.5
Earnings before Tax (EBT) ¹	-	-100.6	132	87.54	14.95	72.61	176	342.7
Change	-	-	-	-33.66%	-82.92%	385.76%	142.46%	94.67%
Net income ¹	-	-106.2	102.3	56.73	-7.835	34.82	126.5	266.5
Change	-	-	-	-44.54%	-	-	263.12%	110.73%
Announcement Date	9/1/20	3/10/21	3/8/22	3/8/23	3/5/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	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	2026 Q1	2026 Q2
Net sales ¹	93.6	115.9	149.9	178.2	183.9	211.9	214.5	211.3	197.1	220.3	256.5	307	304.9	321.5	335.1	345.5	340.2	371.8	386	389.4	389	430.3	444.4	459.3
Change	-	23.81%	29.35%	18.91%	3.19%	15.19%	1.26%	-1.51%	-6.7%	11.76%	16.41%	19.7%	-0.71%	5.47%	4.23%	3.09%	-1.54%	9.31%	3.8%	0.88%	-0.1%	10.61%	3.29%	3.36%
EBITDA ¹	40.99	51.31	65.46	79.38	80.94	91.45	91.58	92.85	81.2	85.68	96.28	110.3	110.7	120.1	114.9	116.8	125.4	140.1	137.8	142	145.9	162.3	154.4	160.6
Change	-	25.18%	27.57%	21.25%	1.98%	12.99%	0.14%	1.39%	-12.55%	5.52%	12.37%	14.57%	0.36%	8.45%	-4.32%	1.65%	7.36%	11.79%	-1.66%	3.02%	2.77%	11.25%	-4.91%	4.03%
EBIT ¹	15.19	19.17	34.86	49.24	39.52	21.84	20.82	28.81	9.599	21.71	7.284	31.34	31.92	46.35	40.28	48.95	48.52	61.27	51.15	60.6	62.2	77.1	98.5	106.6
Change	-	26.17%	81.84%	41.27%	-19.74%	-44.74%	-4.68%	38.4%	-66.68%	126.15%	-66.45%	330.33%	1.83%	45.2%	-13.1%	21.52%	-0.86%	26.26%	-16.52%	18.48%	2.64%	23.95%	27.76%	8.22%
Charge d'intérêts ¹	-90.93	-	-3.315	-3.432	-5.131	-5.001	-7.741	1.973	-7.859	-9.214	-18.47	-29.32	-30.05	-43.5	-29.98	-29.62	-28	-26.4	-23.8	-22.2	-20.65	-19.2	-15.1	-13.9
Earnings before Tax (EBT) ¹	-74.36	21.68	32.85	45.03	34.2	19.87	13.13	40.91	18.4	15.1	-4.411	14.1	-8.453	13.71	2.062	11.44	20.12	35.61	29.73	39.35	45.43	57.3	69.49	77.24
Change	-	-	51.48%	37.09%	-24.05%	-41.9%	-33.95%	211.7%	-55.03%	-17.94%	-	-	-	-	-84.96%	454.95%	75.8%	77.02%	-16.51%	32.37%	15.43%	26.14%	21.27%	11.15%
Net income ¹	-78.58	21.73	26.81	37.83	26.84	10.81	3.003	33.98	11.71	8.04	-9.778	9.923	-19.81	11.83	-6.863	3.465	12.67	24.7	18.2	28.8	32.1	47.35	63.6	71.3
Change	-	-	23.42%	41.08%	-29.05%	-59.73%	-72.22%	1,031.5%	-65.54%	-31.34%	-	-	-	-	-	-	265.56%	95%	-26.32%	58.24%	11.46%	47.51%	34.32%	12.11%
Announcement Date	11/11/20	3/10/21	5/10/21	8/10/21	11/9/21	3/8/22	5/10/22	8/9/22	11/3/22	3/8/23	5/10/23	8/9/23	11/7/23	3/5/24	5/7/24	8/6/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Nuvei Corporation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	34.5	-240	-241	1,090	899	552	114
Change	-	-	-795.65%	-200.42%	352.28%	-17.53%	-38.6%	-79.35%
Announcement Date	9/1/20	3/10/21	3/8/22	3/8/23	3/5/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Nuvei Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	17.84	27.17	48.32	55.08	69.75	71.23	82.69
Change	-	52.27%	77.86%	13.99%	26.63%	2.12%	16.09%
Free Cash Flow (FCF) ¹	75.42	239.7	219.3	207.9	239.2	445.1	635.9
Change	-	217.82%	-8.49%	-5.2%	15.07%	86.05%	42.86%
Announcement Date	3/10/21	3/8/22	3/8/23	3/5/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Nuvei Corporation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	-	43.46%	43.79%	41.66%	36.75%	35.43%	37.25%	38.5%
EBIT Margin (%)	-	17.09%	20.08%	9.6%	9.82%	13.96%	16.49%	29.66%
EBT Margin (%)	-	-26.82%	18.21%	10.38%	1.26%	5.22%	11.06%	18.65%
Net margin (%)	-	-28.32%	14.12%	6.73%	-0.66%	2.51%	7.95%	14.5%
FCF margin (%)	-	20.11%	33.08%	26.01%	17.47%	17.21%	27.98%	34.6%
FCF / Net Income (%)	-	-70.99%	234.32%	386.63%	-2,653.8%	687.02%	352.01%	238.65%
Profitability
ROA	-	-	-	7.71%	5.56%	6.07%	8.49%	10.86%
ROE	-	9.96%	14.1%	13.52%	12.05%	13.58%	17%	19.48%
Financial Health
Leverage (Debt/EBITDA)	-	0.21x	-	-	2.49x	1.83x	0.93x	0.16x
Debt / Free cash flow	-	0.46x	-	-	5.24x	3.76x	1.24x	0.18x
Capital Intensity
CAPEX / Current Assets (%)	-	4.76%	3.75%	5.73%	4.63%	5.02%	4.48%	4.5%
CAPEX / EBITDA (%)	-	10.95%	8.56%	13.75%	12.59%	14.16%	12.02%	11.69%
CAPEX / FCF (%)	-	23.66%	11.34%	22.03%	26.49%	29.15%	16%	13%
Items per share
Cash flow per share ¹	-	0.945	1.848	1.851	1.845	2.508	3.142	-
Change	-	-	95.49%	0.19%	-0.31%	35.92%	25.28%	-
Dividend per Share ¹	-	-	-	-	0.3	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	-	10.49	14.05	14.11	14.53	15.31	17.91	20.95
Change	-	-	34.01%	0.39%	3%	5.33%	17.01%	16.97%
EPS ¹	-0.41	-1.08	0.71	0.39	-0.06	0.2463	0.8734	1.932
Change	-	163.41%	-165.74%	-45.07%	-115.38%	-510.5%	254.61%	121.15%
Nbr of stocks (in thousands)	-	138,172	142,947	141,309	139,148	141,824	141,824	141,824
Announcement Date	9/1/20	3/10/21	3/8/22	3/8/23	3/5/24	-	-	-