Company Valuation: AltaGas Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 7,651 6,582 8,195 9,972 13,022 17,404 - -
Change - -13.98% 24.51% 21.68% 30.59% 33.64% - -
Enterprise Value (EV) 1 15,944 16,386 17,629 19,918 22,940 28,185 28,172 28,285
Change - 2.77% 7.59% 12.98% 15.17% 22.86% -0.05% 0.4%
P/E 33.3x 16.6x - 17.3x - 24.4x 20.2x 18.8x
PBR 1.1x 0.88x 1.06x 1.14x 1.46x 1.82x 1.74x 1.65x
PEG - 0.2x - - - - 1x 2.43x
Capitalization / Revenue 0.72x 0.47x 0.63x 0.8x 1.02x 1.22x 1.14x 1.11x
EV / Revenue 1.51x 1.16x 1.36x 1.6x 1.81x 1.98x 1.84x 1.8x
EV / EBITDA 10.7x 10.7x 11.2x 11.3x 12.3x 13.5x 12.4x 11.8x
EV / EBIT 14.9x 14.9x 15.5x 15.4x 17x 18.5x 16.4x 15.5x
EV / FCF 15.7x 33.5x 15.2x 124x -66.7x -74.1x 52x 34.7x
FCF Yield 6.37% 2.98% 6.59% 0.8% -1.5% -1.35% 1.92% 2.88%
Dividend per Share 2 0.9996 1.06 1.12 1.19 1.26 1.341 1.406 1.465
Rate of return 3.66% 4.53% 4.03% 3.55% 3.01% 2.4% 2.52% 2.63%
EPS 2 0.82 1.41 - 1.94 - 2.29 2.757 2.97
Distribution rate 122% 75.2% - 61.3% - 58.6% 51% 49.3%
Net sales 1 10,573 14,087 12,997 12,448 12,705 14,261 15,276 15,712
EBITDA 1 1,490 1,537 1,575 1,769 1,863 2,094 2,268 2,404
EBIT 1 1,068 1,098 1,134 1,294 1,346 1,521 1,717 1,826
Net income 1 230 399 641 578 747 727.5 853.8 932.7
Net Debt 1 8,293 9,804 9,434 9,946 9,918 10,781 10,768 10,882
Reference price 2 27.31 23.38 27.82 33.48 41.85 55.78 55.78 55.78
Nbr of stocks (in thousands) 280,167 281,519 294,571 297,846 311,168 312,006 - -
Announcement Date 3/4/22 3/2/23 3/8/24 3/6/25 3/6/26 - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- 1.98x13.46x2.4% 12.41B
13.4x1.99x7.24x6.3% 30.87B
20.45x7.63x14.77x2.33% 28.84B
15.26x1.25x8.94x2.36% 13.16B
16.83x1.08x7.51x1.93% 12.9B
15.91x0.98x11.4x3.08% 12.5B
56.77x8.14x12.27x5.69% 9.47B
18.78x5.08x9.32x4.14% 8.5B
11.04x4.04x6.77x2.62% 7.82B
Average 21.06x 3.57x 10.19x 3.43% 15.16B
Weighted average by Cap. 19.38x 3.67x 10.42x 3.63%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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