Cash flow Polaris Renewable Energy Inc.

Equities

PIF

CA73108L1013

Independent Power Producers

Market Closed - Toronto S.E. Other stock markets 04:00:00 2024-09-06 pm EDT			5-day change	1st Jan Change
12.00 ^CAD	0.00%		-0.99%	-9.30%

Aug. 20	Polaris Renewable Energy Inc. announces an Equity Buyback for 2,045,613 shares, representing 9.7% of its issued share capital.	CI
Aug. 20	Polaris Renewable Energy Inc. authorizes a Buyback Plan.	CI

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Published financial data: POLARIS RENEWABLE ENERGY INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues - (Utility Template)	71.25M	74.72M	59.52M	62.6M	78.52M
Total Revenues	71.25M	74.72M	59.52M	62.6M	78.52M
Operations And Maintenance	1.69M	2.95M	2.99M	2.39M	2.15M
Selling General & Admin Expenses, Total	5.01M	6.09M	6.24M	6.01M	7.85M
Depreciation & Amortization - (IS) - (Collected)	23.41M	25.13M	26.07M	25.75M	28.95M
Other Operating Expenses	6.42M	8.12M	7.73M	10.05M	11.53M
Total Operating Expenses	36.54M	42.28M	43.03M	44.2M	50.48M
Operating Income (REIT / Utility Template)	34.72M	32.44M	16.49M	18.4M	28.04M
Interest Expense, Total	-16.8M	-16.18M	-16.32M	-15.35M	-19.33M
Interest and Investment Income	1.06M	314K	374K	677K	1.89M
Net Interest Expenses	-15.74M	-15.86M	-15.94M	-14.68M	-17.45M
Currency Exchange Gains (Loss)	-1.02M	-861K	-919K	-946K	-75K
Other Non Operating Income (Expenses)	4.06M	-7.74M	3.96M	1.28M	-2.94M
EBT, Excl. Unusual Items	22.02M	7.97M	3.58M	4.06M	7.58M
Total Merger & Related Restructuring Charges	-	-	-567K	-788K	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	1.4M	900K	-
Asset Writedown	-11.56M	24.45M	-	-	-
Insurance Settlements	-	600K	-	-	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-409K	5.96M	-	-3.2M	-1.21M
EBT, Incl. Unusual Items	10.04M	38.98M	4.42M	969K	6.36M
Income Tax Expense	-2.8M	10.11M	3.88M	-1.46M	-5.43M
Earnings From Continuing Operations	12.84M	28.87M	542K	2.43M	11.8M
Net Income to Company	12.84M	28.87M	542K	2.43M	11.8M
Minority Interest	1.65M	-31K	-41K	66K	-55K
Net Income - (IS)	14.5M	28.84M	501K	2.5M	11.74M
Net Income to Common Incl Extra Items	14.5M	28.84M	501K	2.5M	11.74M
Net Income to Common Excl. Extra Items	14.5M	28.84M	501K	2.5M	11.74M
Per Share Items
Net EPS - Basic	0.92	1.84	0.03	0.12	0.56
Basic EPS - Continuing Operations	0.92	1.84	0.03	0.12	0.56
Basic Weighted Average Shares Outstanding	15.7M	15.71M	18.81M	20.13M	21.05M
Net EPS - Diluted	0.89	1.7	0.03	0.12	0.56
Diluted EPS - Continuing Operations	0.89	1.7	0.03	0.12	0.56
Diluted Weighted Average Shares Outstanding	16.3M	16.92M	19.02M	20.16M	21.07M
Normalized Basic EPS	0.98	0.32	0.12	0.13	0.22
Normalized Diluted EPS	0.95	0.29	0.12	0.13	0.22
Dividend Per Share	0.6	0.6	0.6	0.6	0.6
Payout Ratio	65	32.67	2.22K	484.67	107.42
Supplemental Items
Utility Revenues	71.25M	74.72M	59.52M	62.6M	78.52M
EBITDA	58.06M	56.88M	42.65M	43.73M	56.99M
EBITA	34.98M	33.8M	17.84M	20.32M	30.76M
EBIT	34.72M	32.44M	16.49M	18.4M	28.04M
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	-27.89	25.94	87.73	-151.08	-85.37
Current Foreign Taxes	-	-	-	-	388K
Total Current Taxes	-	-	-	-	388K
Deferred Foreign Taxes	-	10.11M	3.88M	-1.89M	-5.82M
Total Deferred Taxes	-2.8M	10.11M	3.88M	-1.89M	-5.82M
Normalized Net Income	15.41M	4.95M	2.2M	2.6M	4.68M
Interest Capitalized	1.6M	-	-	-	-
Interest on Long-Term Debt	16.8M	16.18M	16.32M	21.29M	20.88M
Supplemental Operating Expense Items
General and Administrative Expenses	5.01M	6.09M	6.24M	6.01M	7.85M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Maintenance & Repair Expenses, Total	1.69M	2.95M	2.99M	2.39M	2.15M
Stock-Based Comp., G&A Exp. (Total)	389K	905K	875K	383K	326K
Stock-Based Comp., Other (Total)	183K	-	1.76M	-	22K
Total Stock-Based Compensation	572K	905K	2.64M	383K	348K

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	32.6M	60.06M	97.93M	35.32M	40.05M
Accounts Receivable, Total	15.3M	19.39M	9.42M	11.34M	10.63M
Other Receivables	-	-	1.41M	1.2M	1.56M
Accounts Receivable (Summary Subtotal)	15.3M	19.39M	10.84M	12.54M	12.2M
Prepaid Expenses	783K	739K	943K	994K	919K
Other Current Assets, Total	-	158K	432K	1.75M	875K
Total Current Assets	48.68M	80.34M	110M	50.61M	54.04M
Gross Property Plant And Equipment	561M	625M	609M	682M	684M
Accumulated Depreciation	-188M	-250M	-250M	-279M	-300M
Net Property Plant And Equipment	373M	375M	359M	402M	384M
Goodwill	-	-	-	12.36M	12.36M
Other Intangibles, Total	25.68M	24.32M	22.97M	57.53M	55.01M
Long-Term Investments - (Utility Template)	169K	164K	-	-	-
Accounts Receivable Long-Term	296K	544K	-	-	-
Deferred Tax Assets Long-Term (Collected)	3.85M	1.78M	856K	3.91M	6.64M
Deferred Charges Long-Term	273K	-	2.2M	-	-
Other Long-Term Assets, Total	12.04M	9.28M	7.69M	8.63M	7.52M
Total Assets	464M	491M	503M	535M	519M
Liabilities
Accounts Payable, Total	1.43M	9K	8.15M	9.5M	11.96M
Accrued Expenses, Total	3.83M	8.63M	439K	763K	821K
Current Portion of Long-Term Debt	16.92M	21.06M	23.12M	14.94M	15.85M
Current Portion of Leases	252K	187K	299K	422K	399K
Unearned Revenue, Current	-	-	150K	-	-
Other Current Liabilities - (Bank / Utility Template)	12.62M	5.15M	2.15M	4.97M	2.32M
Total Current Liabilities	35.05M	35.04M	34.31M	30.6M	31.35M
Long-Term Debt	167M	168M	147M	169M	157M
Long-Term Leases	629K	503K	1M	2.5M	2.35M
Deferred Tax Liability Non-Current	43.77M	51.81M	54.76M	62.33M	59.24M
Other Non Current Liabilities, Total	10.32M	8.77M	5.24M	-	-
Total Liabilities	257M	264M	242M	265M	249M
Common Stock, Total	599M	599M	649M	666M	666M
Additional Paid In Capital	19.62M	19.72M	14.27M	13.84M	14.02M
Retained Earnings	-409M	-390M	-401M	-410M	-411M
Total Common Equity	209M	229M	263M	270M	269M
Minority Interest	-2.01M	-1.98M	-1.94M	535K	590K
Total Equity	207M	227M	261M	270M	270M
Total Liabilities And Equity	464M	491M	503M	535M	519M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	15.71M	18.51M	19.63M	21.03M	21.08M
ECS Total Common Shares Outstanding	15.71M	15.71M	19.53M	21.03M	21.06M
Book Value / Share	13.32	14.56	13.46	12.83	12.79
Tangible Book Value	184M	204M	240M	200M	202M
Tangible Book Value Per Share	11.69	13.02	12.28	9.5	9.59
Total Debt	185M	190M	171M	187M	175M
Net Debt	152M	130M	73.06M	152M	135M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	-2.01M	-1.98M	-1.94M	535K	590K
Equity Method Investments, Total	169K	164K	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	-	-	-	-	-
Machinery, Total	74K	-	-	-	-
Full Time Employees	128	123	151	208	235

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	14.5M	28.84M	501K	2.5M	11.74M
Depreciation, Depletion & Amortization	23.25M	23.39M	25.02M	23.67M	26.46M
Amortization of Goodwill and Intangible Assets - (CF)	268K	1.36M	1.36M	1.92M	2.71M
Total Depreciation, Depletion & Amortization	23.52M	24.76M	26.38M	25.58M	29.17M
(Gain) Loss On Sale of Asset - (CF)	-	-	-1.45M	-	-
Total Asset Writedown	11.56M	-24.45M	-	-	-
Stock-Based Compensation (CF)	572K	887K	643K	375K	348K
Minority Interest in Earnings - (CF)	-1.65M	31K	41K	-58K	55K
Change in Accounts Receivable	-76K	-4.09M	10.06M	-219K	609K
Change in Accounts Payable	-730K	-249K	-552K	-3.19M	-1.15M
Change in Other Net Operating Assets (Collected)	281K	-328K	-1.59M	-1.89M	526K
Other Operating Activities	-3.36M	14.91M	7.08M	10.4M	2.66M
Cash from Operations	44.61M	40.31M	41.13M	33.51M	43.96M
Capital Expenditure	-47.9M	-6.89M	-8.41M	-32.48M	-11.39M
Sale of Property, Plant, and Equipment	-	-	317K	-	-
Cash Acquisitions	-	-	-	-32.71M	-
Other Investing Activities, Total	4.98M	4.04M	-2.05M	-805K	10K
Cash from Investing	-42.93M	-2.85M	-10.15M	-65.99M	-11.38M
Long-Term Debt Issued, Total	17.58M	23.46M	-	110M	-
Total Debt Issued	17.58M	23.46M	-	110M	-
Long-Term Debt Repaid, Total	-15.06M	-24.02M	-21.33M	-119M	-15.35M
Total Debt Repaid	-15.06M	-24.02M	-21.33M	-119M	-15.35M
Issuance of Common Stock	-	-	39.35M	-	467K
Repurchase of Common Stock	-	-	-	-	-214K
Common Dividends Paid	-9.42M	-9.42M	-11.14M	-12.11M	-12.62M
Common & Preferred Stock Dividends Paid	-9.42M	-9.42M	-11.14M	-12.11M	-12.62M
Other Financing Activities, Total	-	-	-	-9.47M	-
Cash from Financing	-6.9M	-9.99M	6.89M	-30.12M	-27.71M
Foreign Exchange Rate Adjustments	8K	3K	-2K	8K	-142K
Miscellaneous Cash Flow Adjustments	-	-10K	-	-	-
Net Change in Cash	-5.21M	27.46M	37.87M	-62.6M	4.73M
Supplemental Items
Cash Interest Paid	13.87M	10.3M	11.8M	10.84M	17.78M
Net Debt Issued / Repaid	2.52M	-567K	-21.33M	-8.54M	-15.35M
Levered Free Cash Flow	-20.22M	20.65M	28.39M	-3.34M	24.74M
Unlevered Free Cash Flow	-9.72M	30.76M	38.59M	6.25M	36.82M
Change In Net Working Capital	7.6M	8.29M	-7.67M	-1.27M	-1.17M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	4.67	4.25	2.08	2.22	3.32
Return on Total Capital	5.6	5.02	2.43	2.59	3.88
Return On Equity %	6.25	13.31	0.22	0.92	4.37
Return on Common Equity	7.02	13.17	0.2	0.94	4.36
Margin Analysis
Gross Profit Margin %	91.48	88.26	85.09	84.05	85.69
SG&A Margin	7.03	8.15	10.49	9.6	10
EBITDA Margin %	81.49	76.13	71.66	69.86	72.57
EBITA Margin %	49.1	45.24	29.98	32.45	39.17
EBIT Margin %	48.72	43.42	27.7	29.39	35.71
Income From Continuing Operations Margin %	18.02	38.64	0.91	3.89	15.03
Net Income Margin %	20.34	38.6	0.84	3.99	14.96
Net Avail. For Common Margin %	20.34	38.6	0.84	3.99	14.96
Normalized Net Income Margin	21.63	6.63	3.7	4.16	5.96
Levered Free Cash Flow Margin	-28.38	27.63	47.7	-5.34	31.51
Unlevered Free Cash Flow Margin	-13.64	41.16	64.84	9.99	46.9
Asset Turnover
Asset Turnover	0.15	0.16	0.12	0.12	0.15
Fixed Assets Turnover	0.19	0.2	0.16	0.16	0.2
Receivables Turnover (Average Receivables)	4.67	4.31	4.06	6.03	7.18
Short Term Liquidity
Current Ratio	1.39	2.29	3.21	1.65	1.72
Quick Ratio	1.37	2.27	3.17	1.56	1.67
Operating Cash Flow to Current Liabilities	1.27	1.15	1.2	1.1	1.4
Days Sales Outstanding (Average Receivables)	78.19	84.96	89.88	60.53	50.83
Average Days Payable Outstanding	111.37	30.03	292.14	322.58	348.63
Long Term Solvency
Total Debt/Equity	89.06	83.78	65.56	69.33	64.88
Total Debt / Total Capital	47.11	45.59	39.6	40.94	39.35
LT Debt/Equity	80.77	74.41	56.58	63.64	58.86
Long-Term Debt / Total Capital	42.72	40.49	34.18	37.58	35.7
Total Liabilities / Total Assets	55.31	53.83	48.12	49.5	48.03
EBIT / Interest Expense	2.07	2.01	1.01	1.2	1.45
EBITDA / Interest Expense	3.47	3.54	2.63	2.86	2.96
(EBITDA - Capex) / Interest Expense	0.61	3.11	2.11	0.75	2.37
Total Debt / EBITDA	3.17	3.32	3.99	4.26	3.06
Net Debt / EBITDA	2.61	2.27	1.7	3.46	2.36
Total Debt / (EBITDA - Capex)	17.86	3.78	4.96	16.29	3.82
Net Debt / (EBITDA - Capex)