Balance Sheet Toromont Industries Ltd.

Equities

TIH

CA8911021050

Heavy Machinery & Vehicles

Market Closed - Toronto S.E. Other stock markets 04:00:00 2025-01-24 pm EST			5-day change	1st Jan Change
122.19 ^CAD	-0.68%		+6.00%	+7.52%

Dec. 16	Toromont Industries Upgraded to Outperform at National Bank	MT
Dec. 16	Toromont Industries Brief: Bottom line For National Bank, "Shares came down faster than we thought post our Oct. downgrade; Time to step in again"	MT

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Published financial data: TOROMONT INDUSTRIES LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	3.68B	3.48B	3.89B	4.23B	4.62B
Total Revenues	3.68B	3.48B	3.89B	4.23B	4.62B
Cost of Goods Sold, Total	2.77B	2.64B	2.92B	3.1B	3.38B
Gross Profit	906M	836M	970M	1.13B	1.24B
Selling General & Admin Expenses, Total	476M	442M	471M	491M	524M
Depreciation & Amortization - (IS)	22.4M	21.2M	17.8M	18M	16.9M
Other Operating Expenses, Total	499M	463M	489M	509M	541M
Operating Income	407M	372M	481M	624M	704M
Interest Expense, Total	-27.71M	-29.98M	-28.16M	-27.34M	-28.1M
Interest And Investment Income	9.75M	9.08M	9.03M	22.23M	45.98M
Net Interest Expenses	-17.96M	-20.9M	-19.13M	-5.11M	17.88M
EBT, Excl. Unusual Items	390M	352M	462M	619M	722M
Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Other Unusual Items	5M	-	-5M	-	-
EBT, Incl. Unusual Items	395M	352M	457M	619M	722M
Income Tax Expense	108M	96.62M	124M	165M	193M
Earnings From Continuing Operations	287M	255M	333M	454M	529M
Earnings Of Discontinued Operations	-	-	-	-	5.6M
Net Income to Company	287M	255M	333M	454M	535M
Net Income - (IS)	287M	255M	333M	454M	535M
Net Income to Common Incl Extra Items	287M	255M	333M	454M	535M
Net Income to Common Excl. Extra Items	287M	255M	333M	454M	529M
Per Share Items
Net EPS - Basic	3.52	3.1	4.03	5.52	6.5
Basic EPS - Continuing Operations	3.52	3.1	4.03	5.52	6.43
Basic Weighted Average Shares Outstanding	81.59M	82.15M	82.55M	82.34M	82.31M
Net EPS - Diluted	3.49	3.09	4	5.47	6.45
Diluted EPS - Continuing Operations	3.49	3.09	4	5.47	6.38
Diluted Weighted Average Shares Outstanding	82.08M	82.62M	83.27M	82.98M	82.9M
Normalized Basic EPS	2.98	2.67	3.5	4.7	5.48
Normalized Diluted EPS	2.97	2.66	3.47	4.66	5.44
Dividend Per Share	1.08	1.24	1.36	1.56	1.72
Payout Ratio	29.56	38.65	32.78	27.57	25.91
Supplemental Items
EBITDA	558M	525M	628M	777M	876M
EBITA	410M	375M	483M	627M	707M
EBIT	407M	372M	481M	624M	704M
EBITDAR	558M	525M	628M	777M	877M
Effective Tax Rate - (Ratio)	27.31	27.49	27.17	26.63	26.73
Total Current Taxes	81.73M	99.7M	121M	155M	174M
Total Deferred Taxes	26.01M	-3.08M	3.59M	9.85M	18.56M
Normalized Net Income	243M	220M	289M	387M	451M
Interest on Long-Term Debt	27.71M	29.98M	28.16M	27.34M	28.1M
Non-Cash Pension Expense	2.93M	3.31M	2.64M	1.63M	-1.28M
Supplemental Operating Expense Items
Net Rental Expense, Total	223K	176K	194K	252K	315K
Imputed Operating Lease Interest Expense	74.75K	62.59K	65.33K	82.45K	105K
Imputed Operating Lease Depreciation	148K	113K	129K	170K	210K
Stock-Based Comp., SG&A Exp. (Total)	2.7M	2.9M	3.3M	3.8M	8M
Stock-Based Comp., Other (Total)	3.03M	2.83M	3.17M	3M	2.85M
Total Stock-Based Compensation	5.73M	5.73M	6.47M	6.8M	10.85M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	366M	591M	917M	928M	1.04B
Total Cash And Short Term Investments	366M	591M	917M	928M	1.04B
Accounts Receivable, Total	499M	518M	438M	561M	610M
Other Receivables	35.83M	23.28M	13.52M	18.2M	16.92M
Total Receivables	534M	542M	452M	580M	627M
Inventory	912M	728M	720M	1.03B	1.12B
Other Current Assets, Total	12.06M	10.9M	19.25M	35.97M	23.73M
Total Current Assets	1.82B	1.87B	2.11B	2.57B	2.81B
Gross Property Plant And Equipment	1.7B	1.7B	1.79B	2.01B	2.25B
Accumulated Depreciation	-649M	-708M	-794M	-905M	-997M
Net Property Plant And Equipment	1.05B	988M	995M	1.11B	1.25B
Goodwill	93.78M	93.78M	93.78M	93.78M	93.78M
Other Intangibles, Total	389M	384M	381M	379M	376M
Accounts Receivable Long-Term	8.32M	5.3M	1.86M	1.24M	1.04M
Deferred Tax Assets Long-Term	1.22M	504K	231K	925K	1.37M
Other Long-Term Assets, Total	2.8M	2.99M	3.13M	28.38M	34.37M
Total Assets	3.37B	3.35B	3.58B	4.18B	4.57B
Liabilities
Accounts Payable, Total	783M	539M	542M	665M	623M
Accrued Expenses, Total	27.39M	35.56M	23.07M	18.53M	22.13M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	9.69M	9.15M	7.83M	7.72M	9.21M
Current Income Taxes Payable	89K	23.42M	15.24M	28.65M	7.01M
Unearned Revenue Current, Total	141M	149M	200M	309M	360M
Other Current Liabilities	34.05M	37.69M	25.4M	27.65M	44.22M
Total Current Liabilities	995M	794M	814M	1.06B	1.07B
Long-Term Debt	645M	646M	646M	647M	648M
Long-Term Leases	21.73M	16.56M	11.78M	16.16M	25.08M
Unearned Revenue Non Current	16.41M	16.38M	27.25M	23.28M	22.48M
Pension & Other Post Retirement Benefits	126M	149M	82.71M	30.59M	28.7M
Deferred Tax Liability Non Current	33.15M	25.23M	48.68M	82.94M	97.89M
Total Liabilities	1.84B	1.65B	1.63B	1.86B	1.89B
Common Stock, Total	490M	517M	540M	561M	583M
Additional Paid In Capital	13.09M	14.24M	16.35M	19.26M	27.35M
Retained Earnings	1.03B	1.17B	1.39B	1.73B	2.08B
Comprehensive Income and Other	-341K	-1.42M	4.75M	13.36M	-6.21M
Total Common Equity	1.53B	1.7B	1.95B	2.33B	2.68B
Total Equity	1.53B	1.7B	1.95B	2.33B	2.68B
Total Liabilities And Equity	3.37B	3.35B	3.58B	4.18B	4.57B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	82.01M	82.47M	82.44M	82.32M	82.31M
ECS Total Common Shares Outstanding	82.01M	82.47M	82.44M	82.32M	82.3M
Book Value / Share	18.7	20.6	23.69	28.25	32.61
Tangible Book Value	1.05B	1.22B	1.48B	1.85B	2.21B
Tangible Book Value Per Share	12.82	14.8	17.93	22.51	26.9
Total Debt	677M	672M	666M	671M	682M
Net Debt	311M	80.89M	-251M	-257M	-359M
Debt Equivalent of Unfunded Proj. Benefit Obligation	107M	128M	62.24M	-11.1M	-17.15M
Debt Equivalent Oper. Leases	1.78M	1.41M	1.55M	2.02M	2.52M
Account Code - Inventory Valuation	8	8	8	-	6
Inventories - Raw Materials, Total	5.06M	5.06M	6.04M	6.89M	6.14M
Inventories - Work In Process, Total	82.92M	85.23M	88.22M	120M	146M
Inventories - Finished Goods, Total	571M	407M	403M	565M	638M
Inventories - Others	253M	231M	223M	334M	329M
Land - (BS)	148M	155M	173M	177M	183M
Buildings, Total	293M	297M	315M	327M	370M
Machinery, Total	1.22B	1.22B	1.28B	1.49B	1.66B
Full Time Employees	6.5K	6K	6.4K	6.8K	7K
Accumulated Allowance for Doubtful Accounts (Supple)	19.94M	20.66M	20.32M	25.54M	25.08M
Order Backlog	395M	557M	-	1.29B	1.21B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	287M	255M	333M	454M	535M
Depreciation & Amortization - CF	159M	160M	154M	160M	179M
Amortization of Goodwill and Intangible Assets - (CF)	2.48M	2.64M	2.48M	2.48M	2.48M
Depreciation & Amortization, Total	161M	163M	157M	162M	182M
Amortization of Deferred Charges, Total - (CF)	1.93M	3.21M	1.64M	677K	544K
(Gain) Loss From Sale Of Asset	-22.12M	-22.38M	-21.53M	-34.36M	-34.71M
Stock-Based Compensation (CF)	5.73M	5.73M	6.47M	6.8M	10.85M
Net Cash From Discontinued Operations	-	-	-	-	2.59M
Other Operating Activities, Total	-131M	-45.45M	-62.61M	-159M	-163M
Change In Accounts Receivable	-2.59M	-16.53M	89.64M	-128M	-49.76M
Change In Inventories	-38.68M	184M	7.98M	-305M	-115M
Change In Accounts Payable	-111M	-225M	-12.92M	104M	-47.16M
Change in Unearned Revenues	3.81M	8.19M	61.46M	106M	52.53M
Change In Income Taxes	-37.64M	32.56M	-8.04M	13.41M	-20.8M
Change in Other Net Operating Assets	29.35M	6.56M	-8.8M	-3.34M	3.36M
Cash from Operations	146M	349M	543M	217M	356M
Capital Expenditure	-57.2M	-43.29M	-71.2M	-69.33M	-114M
Sale of Property, Plant, and Equipment	737K	10.92M	2.47M	25.17M	10.3M
Cash Acquisitions	-	-	-	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Other Investing Activities, Total	-93K	-187K	-133K	-167K	26.06M
Cash from Investing	-56.56M	-32.55M	-68.87M	-44.33M	-78.12M
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-11.11M	-10.34M	-9.88M	-9.08M	-9.39M
Total Debt Repaid	-11.11M	-10.34M	-9.88M	-9.08M	-9.39M
Issuance of Common Stock	26.73M	22.37M	21.75M	20.63M	21.04M
Repurchase of Common Stock	-	-4.04M	-50M	-48.5M	-37.54M
Common Dividends Paid	-84.79M	-98.53M	-109M	-125M	-139M
Common & Preferred Stock Dividends Paid	-84.79M	-98.53M	-109M	-125M	-139M
Other Financing Activities, Total	-	-338K	-961K	-	-38K
Cash from Financing	-69.17M	-90.88M	-148M	-162M	-164M
Foreign Exchange Rate Adjustments	-144K	-58K	-10K	489K	-210K
Net Change in Cash	20.16M	226M	326M	10.95M	113M
Supplemental Items
Cash Interest Paid	24.81M	26.08M	26.16M	24.78M	24.78M
Cash Income Tax Paid (Refund)	118M	66.32M	128M	142M	197M
Levered Free Cash Flow	185M	320M	487M	267M	381M
Unlevered Free Cash Flow	201M	338M	503M	283M	398M
Change In Net Working Capital	164M	22.58M	-110M	207M	121M
Net Debt Issued / Repaid	-11.11M	-10.34M	-9.88M	-9.08M	-9.39M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	7.71	6.93	8.67	10.05	10.06
Return on Total Capital	12.17	10.16	12.05	13.89	13.84
Return On Equity %	20.04	15.77	18.22	21.23	21.13
Return on Common Equity	20.04	15.77	18.22	21.23	21.13
Margin Analysis
Gross Profit Margin %	24.63	24.02	24.95	26.79	26.93
SG&A Margin	12.95	12.71	12.12	11.62	11.33
EBITDA Margin %	15.17	15.09	16.15	18.37	18.96
EBITA Margin %	11.14	10.78	12.44	14.81	15.29
EBIT Margin %	11.08	10.71	12.37	14.75	15.24
Income From Continuing Operations Margin %	7.8	7.33	8.56	10.74	11.45
Net Income Margin %	7.8	7.33	8.56	10.74	11.57
Net Avail. For Common Margin %	7.8	7.33	8.56	10.74	11.45
Normalized Net Income Margin	6.62	6.32	7.43	9.15	9.76
Levered Free Cash Flow Margin	5.03	9.2	12.53	6.3	8.23
Unlevered Free Cash Flow Margin	5.47	9.71	12.95	6.69	8.6
Asset Turnover
Asset Turnover	1.11	1.04	1.12	1.09	1.06
Fixed Assets Turnover	3.67	3.41	3.92	4.02	3.91
Receivables Turnover (Average Receivables)	7.33	6.84	8.12	8.46	7.89
Inventory Turnover (Average Inventory)	3.11	3.22	4.03	3.55	3.15
Short Term Liquidity
Current Ratio	1.83	2.36	2.59	2.43	2.64
Quick Ratio	0.9	1.43	1.68	1.43	1.56
Operating Cash Flow to Current Liabilities	0.15	0.44	0.67	0.21	0.33
Days Sales Outstanding (Average Receivables)	49.78	53.5	44.93	43.13	46.27
Days Outstanding Inventory (Average Inventory)	117.54	113.59	90.65	102.89	115.9
Average Days Payable Outstanding	110.29	98.38	67.87	64.76	67.74
Cash Conversion Cycle (Average Days)	57.03	68.7	67.71	81.27	94.43
Long Term Solvency
Total Debt/Equity	44.13	39.56	34.09	28.85	25.41
Total Debt / Total Capital	30.62	28.35	25.42	22.39	20.26
LT Debt/Equity	43.5	39.02	33.69	28.52	25.07
Long-Term Debt / Total Capital	30.18	27.96	25.13	22.13	19.99
Total Liabilities / Total Assets	54.5	49.25	45.5	44.4	41.3
EBIT / Interest Expense	14.71	12.42	17.08	22.83	25.06
EBITDA / Interest Expense	20.52	17.86	22.64	28.76	31.54
(EBITDA - Capex) / Interest Expense	18.45	16.42	20.11	26.23	27.46
Total Debt / EBITDA	1.19	1.25	1.04	0.85	0.77
Net Debt / EBITDA	0.55	0.15	-0.39	-0.33	-0.4
Total Debt / (EBITDA - Capex)	1.32	1.37	1.18	0.94	0.88
Net Debt / (EBITDA - Capex)	0.61	0.16	-0.44	-0.36	-0.46
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	4.98	-5.43	11.72	8.86	12.32
Gross Profit, 1 Yr. Growth %	4.95	-7.77	16.04	16.89	11.3
EBITDA, 1 Yr. Growth %	9.59	-6.77	19.59	23.81	13.51
EBITA, 1 Yr. Growth %	9.61	-9.61	28.88	29.63	13.7
EBIT, 1 Yr. Growth %	10.26	-9.71	29.13	29.78	13.75
Earnings From Cont. Operations, 1 Yr. Growth %	13.82	-11.12	30.52	36.51	17.55
Net Income, 1 Yr. Growth %	13.82	-11.12	30.52	36.51	17.73
Normalized Net Income, 1 Yr. Growth %	11.99	-10.9	31.37	34.05	17.71
Diluted EPS Before Extra, 1 Yr. Growth %	13.68	-11.46	29.45	36.75	17.71
Accounts Receivable, 1 Yr. Growth %	-1.24	3.98	-15.43	28.07	8.7
Inventory, 1 Yr. Growth %	4.43