Company Valuation: Capital Power Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,584 5,414 4,453 8,856 9,132 10,026 - -
Change - 18.12% -17.76% 98.88% 3.12% 9.8% - -
Enterprise Value (EV) 1 7,694 8,979 7,886 13,118 15,905 16,507 15,881 15,160
Change - 16.71% -12.18% 66.35% 21.25% 3.79% -3.79% -4.54%
P/E 101x 55.2x 6.26x 12.4x 66.5x 52.9x 21.4x 18.1x
PBR 1.61x 2.21x 1.4x 1.99x - 2.33x 2.35x 2.36x
PEG - 0x 0x -0.8x -0.8x 1.4x 0x 1x
Capitalization / Revenue 2.3x 1.85x 1.04x 2.35x 2.45x 2.53x 2.33x 2.12x
EV / Revenue 3.87x 3.07x 1.84x 3.47x 4.28x 4.17x 3.68x 3.2x
EV / EBITDA 6.84x 6.64x 5.42x 9.84x 10.1x 9.9x 8.83x 7.88x
EV / EBIT 13.2x 11.2x 8.95x 15.8x 39.1x 22.1x 14.6x 12x
EV / FCF 11.9x 35.5x 79.7x 177x 162x 21.5x 20.2x 23x
FCF Yield 8.41% 2.82% 1.26% 0.56% 0.62% 4.65% 4.96% 4.35%
Dividend per Share 2 2.12 2.255 2.39 2.534 2.686 2.786 2.844 2.885
Rate of return 5.37% 4.87% 6.32% 3.98% 4.59% 4.36% 4.46% 4.52%
EPS 2 0.39 0.84 6.04 5.15 0.88 1.206 2.978 3.518
Distribution rate 544% 268% 39.6% 49.2% 305% 231% 95.5% 82%
Net sales 1 1,990 2,929 4,282 3,776 3,720 3,959 4,311 4,738
EBITDA 1 1,124 1,353 1,455 1,333 1,580 1,667 1,800 1,925
EBIT 1 585 800 881 830 407 746.1 1,084 1,260
Net income 1 44 99 744 699 160 219.3 470 550.8
Net Debt 1 3,110 3,565 3,433 4,262 6,773 6,480 5,855 5,134
Reference price 2 39.46 46.33 37.84 63.72 58.55 63.83 63.83 63.83
Nbr of stocks (in thousands) 116,162 116,862 117,674 138,977 155,962 157,080 - -
Announcement Date 2/24/22 3/1/23 2/28/24 2/26/25 3/4/26 - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
53.66x4.2x9.98x4.31% 7.32B
33.35x7.46x19.99x-.--% 42.9B
14.5x2.83x10.52x2.9% 33.49B
14.7x4.74x8.56x3.74% 16.23B
15.21x5.02x10.5x-.--% 14.19B
7.95x2.86x7.75x5.16% 12.61B
4.79x0.68x3.32x2.68% 8.79B
12.05x1.6x8.23x4.13% 7.79B
16.96x - - - 4.82B
Average 19.24x 3.67x 9.86x 2.87% 16.46B
Weighted average by Cap. 20.80x 4.52x 12.29x 2.16%

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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