Balance Sheet Cargojet Inc.

Equities

CJT

CA14179V5036

Air Freight & Logistics

Market Closed - Toronto S.E. Other stock markets 16:00:00 2024-09-06 EDT			5-day change	1st Jan Change
124.50 ^CAD	-1.88%		-6.93%	+4.47%

08-15	MT Newswires Canada Stocks: Africa Oil; Cargojet; Exro; Intermap; Karnalyte; Northland Power; Quipt Home Medical	MT
08-14	Cargojet Inc. Declares Quarterly Dividend, Payable on or before October 4, 2024	CI

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Published financial data: CARGOJET INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	487M	668M	758M	980M	878M
Total Revenues	487M	668M	758M	980M	878M
Cost of Goods Sold, Total	367M	418M	527M	732M	739M
Gross Profit	119M	250M	231M	248M	138M
Selling General & Admin Expenses, Total	62.4M	102M	59.5M	74.6M	70.5M
Stock-Based Compensation (IS)	-2.9M	-	-	-	-
Other Operating Expenses, Total	59.5M	102M	59.5M	74.6M	70.5M
Operating Income	59.7M	148M	171M	173M	67.6M
Interest Expense, Total	-43.6M	-39.6M	-30.9M	-33.6M	-56.8M
Interest And Investment Income	-	-	-	-	-
Net Interest Expenses	-43.6M	-39.6M	-30.9M	-33.6M	-56.8M
Income (Loss) On Equity Invest.	-	-	-	-2M	-100K
Currency Exchange Gains (Loss)	4.3M	3.3M	-100K	-3.6M	500K
Other Non Operating Income (Expenses)	-900K	-157M	64.9M	85.6M	47.4M
EBT, Excl. Unusual Items	19.5M	-45.1M	205M	219M	58.6M
Gain (Loss) On Sale Of Assets	1.3M	800K	300K	700K	-2.8M
Asset Writedown	-	-600K	-	-	-15.8M
Insurance Settlements	-	-	-	-	12.2M
Other Unusual Items	-	1.1M	-4.8M	-	-500K
EBT, Incl. Unusual Items	20.8M	-43.8M	201M	220M	51.7M
Income Tax Expense	9.2M	44M	33.4M	29.4M	14.4M
Earnings From Continuing Operations	11.6M	-87.8M	167M	191M	37.3M
Net Income to Company	11.6M	-87.8M	167M	191M	37.3M
Net Income - (IS)	11.6M	-87.8M	167M	191M	37.3M
Net Income to Common Incl Extra Items	11.6M	-87.8M	167M	191M	37.3M
Net Income to Common Excl. Extra Items	11.6M	-87.8M	167M	191M	37.3M
Per Share Items
Net EPS - Basic	0.85	-5.63	9.75	11.04	2.17
Basic EPS - Continuing Operations	0.85	-5.63	9.75	11.04	2.17
Basic Weighted Average Shares Outstanding	13.57M	15.59M	17.17M	17.27M	17.19M
Net EPS - Diluted	0.85	-5.63	9.51	10.15	2.17
Diluted EPS - Continuing Operations	0.85	-5.63	9.51	10.15	2.17
Diluted Weighted Average Shares Outstanding	13.74M	15.59M	17.54M	20.24M	17.19M
Normalized Basic EPS	0.9	-1.81	7.47	7.94	2.13
Normalized Diluted EPS	0.89	-1.81	7.32	6.77	2.13
Dividend Per Share	0.94	0.94	1.04	1.12	1.17
Payout Ratio	106.9	-16.63	10.22	9.92	52.82
Distributable Cash Payout Ratio (Income Trusts)	26.99	7.42	11.24	11.67	30.76
Standardized Distributable Cash	61.6M	230M	133M	154M	-
Supplemental Items
EBITDA	129M	228M	268M	300M	220M
EBITA	59.7M	148M	171M	173M	67.6M
EBIT	59.7M	148M	171M	173M	67.6M
EBITDAR	130M	-	-	-	-
Effective Tax Rate - (Ratio)	44.23	-100.46	16.63	13.36	27.85
Total Current Taxes	-	-	-	-	-
Total Deferred Taxes	9.2M	44M	33.4M	29.4M	14.4M
Normalized Net Income	12.19M	-28.19M	128M	137M	36.62M
Distributable Cash	48.4M	197M	160M	165M	65.3M
Interest Capitalized	-	-	-	5.2M	5M
Interest on Long-Term Debt	43.5M	39.6M	30.9M	38.8M	61.8M
Non-Cash Pension Expense	2.8M	11.8M	-5M	-5.6M	-9.3M
Supplemental Operating Expense Items
Selling and Marketing Expenses	2.9M	4.2M	800K	-	-
General and Administrative Expenses	59.5M	98M	58.7M	74.6M	70.5M
Net Rental Expense, Total	800K	-	-	-	-
Imputed Operating Lease Interest Expense	451K	-	-	-	-
Imputed Operating Lease Depreciation	349K	-	-	-	-
Maintenance & Repair Expenses, Total	15.3M	10.5M	10.5M	76.3M	84.5M
Stock-Based Comp., G&A Exp. (Total)	5.8M	8.3M	16.5M	3.9M	4M
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	1.8M	24.6M	-	-	-
Total Stock-Based Compensation	7.6M	32.9M	16.5M	3.9M	4M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.6M	3.7M	94.7M	6.1M	31.8M
Total Cash And Short Term Investments	1.6M	3.7M	94.7M	6.1M	31.8M
Accounts Receivable, Total	51.3M	31.2M	68M	78.4M	114M
Other Receivables	100K	10.2M	7.3M	17.3M	5.5M
Notes Receivable	-	-	-	-	-
Total Receivables	51.4M	41.4M	75.3M	95.7M	119M
Inventory	2.3M	1.5M	2.2M	3.3M	2.6M
Prepaid Expenses	6.9M	5M	5.2M	11M	8.6M
Other Current Assets, Total	8.3M	44.6M	22.7M	-	116M
Total Current Assets	70.5M	96.2M	200M	116M	278M
Gross Property Plant And Equipment	1.21B	1.42B	1.69B	2.29B	2.37B
Accumulated Depreciation	-324M	-419M	-534M	-644M	-803M
Net Property Plant And Equipment	890M	999M	1.16B	1.64B	1.57B
Long-term Investments	-	-	9.4M	7.4M	7.3M
Goodwill	48.3M	48.3M	48.3M	48.3M	48.3M
Other Intangibles, Total	2M	2M	2M	2M	2M
Accounts Receivable Long-Term	78M	68.4M	61.1M	156M	119M
Loans Receivable Long-Term	-	-	-	2.6M	2.9M
Deferred Tax Assets Long-Term	3.2M	3.2M	3.1M	3.1M	5.4M
Other Long-Term Assets, Total	6.1M	7.1M	5.9M	7.1M	6.3M
Total Assets	1.1B	1.22B	1.49B	1.99B	2.04B
Liabilities
Accounts Payable, Total	45.6M	66.9M	71.7M	100M	147M
Accrued Expenses, Total	6M	6.3M	-	-	-
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	59.3M	104M	22M	31.4M	22.9M
Other Current Liabilities	3.6M	3.6M	4.5M	18.7M	16.4M
Total Current Liabilities	114M	181M	98.2M	150M	186M
Long-Term Debt	438M	378M	307M	618M	680M
Long-Term Leases	137M	91.2M	69.4M	57.6M	96.2M
Pension & Other Post Retirement Benefits	24.1M	68.2M	50.9M	31M	21.3M
Deferred Tax Liability Non Current	35.5M	79.5M	109M	138M	155M
Other Non Current Liabilities	73.5M	251M	179M	160M	113M
Total Liabilities	822M	1.05B	813M	1.15B	1.25B
Common Stock, Total	298M	300M	655M	651M	610M
Additional Paid In Capital	2.4M	2.3M	300K	700K	800K
Retained Earnings	-37.5M	-140M	7.8M	167M	161M
Comprehensive Income and Other	13.1M	13.1M	13.1M	13.1M	13.1M
Total Common Equity	276M	175M	676M	832M	784M
Total Equity	276M	175M	676M	832M	784M
Total Liabilities And Equity	1.1B	1.22B	1.49B	1.99B	2.04B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	15.58M	15.6M	17.32M	17.2M	16.87M
ECS Total Common Shares Outstanding	15.58M	15.6M	17.32M	17.2M	16.87M
Book Value / Share	17.73	11.23	39.04	48.34	46.51
Tangible Book Value	226M	125M	626M	781M	734M
Tangible Book Value Per Share	14.5	8.01	36.14	45.41	43.53
Total Debt	634M	573M	399M	707M	799M
Net Debt	632M	569M	304M	701M	767M
Debt Equivalent of Unfunded Proj. Benefit Obligation	16.7M	29.8M	24.7M	19.1M	9.8M
Debt Equivalent Oper. Leases	6.4M	-	-	-	-
Equity Method Investments, Total	-	-	9.4M	7.4M	7.3M
Account Code - Inventory Valuation	3	3	3	-	3
Inventories - Finished Goods, Total	2.3M	1.5M	2.2M	3.3M	2.6M
Machinery, Total	866M	1.1B	1.24B	1.53B	1.86B
Full Time Employees	1.13K	1.24K	1.5K	1.8K	1.84K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	11.6M	-87.8M	167M	191M	37.3M
Depreciation & Amortization - CF	78.7M	89M	106M	136M	163M
Depreciation & Amortization, Total	78.7M	89M	106M	136M	163M
Amortization of Deferred Charges, Total - (CF)	15.3M	10.5M	10.5M	13.3M	15.9M
(Gain) Loss From Sale Of Asset	-2.6M	-800K	-300K	-700K	2.8M
Asset Writedown & Restructuring Costs	-	600K	-	-	15.8M
(Income) Loss On Equity Investments - (CF)	-	-	-	2M	100K
Stock-Based Compensation (CF)	10.5M	32.9M	-1.4M	-5.8M	1.7M
Provision and Write-off of Bad Debts	-	9.6M	7.3M	4.2M	42.5M
Other Operating Activities, Total	24.3M	205M	-16.9M	-46.2M	-46.7M
Change In Accounts Receivable	7.4M	10M	-32.9M	-20.6M	-28.9M
Change In Inventories	-700K	800K	-700K	-1.1M	700K
Change In Accounts Payable	7.2M	21.9M	5.1M	17.6M	-14.2M
Change in Other Net Operating Assets	-700K	900K	1M	-7M	3.2M
Cash from Operations	151M	293M	245M	282M	193M
Capital Expenditure	-218M	-147M	-278M	-611M	-267M
Sale of Property, Plant, and Equipment	1.3M	800K	300K	700K	127M
Cash Acquisitions	-3.1M	-	-	-	-
Investment in Marketable and Equity Securities, Total	-	-	-9.4M	-	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	2.7M	18.1M	6.3M	-4.6M	12.2M
Cash from Investing	-217M	-128M	-280M	-615M	-128M
Long-Term Debt Issued, Total	210M	110M	-	308M	146M
Total Debt Issued	210M	110M	-	308M	146M
Long-Term Debt Repaid, Total	-117M	-249M	-190M	-28.5M	-42.7M
Total Debt Repaid	-117M	-249M	-190M	-28.5M	-42.7M
Issuance of Common Stock	-	-	350M	-	-
Repurchase of Common Stock	-3.2M	-2.4M	-2.8M	-17M	-36.4M
Common Dividends Paid	-12.4M	-14.6M	-17.1M	-18.9M	-19.7M
Common & Preferred Stock Dividends Paid	-12.4M	-14.6M	-17.1M	-18.9M	-19.7M
Other Financing Activities, Total	-2M	-7.1M	-13.8M	-	-86.3M
Cash from Financing	74.8M	-163M	126M	244M	-39.6M
Foreign Exchange Rate Adjustments	-6.1M	-	-	-	-
Net Change in Cash	2.5M	2.1M	91M	-88.6M	25.7M
Supplemental Items
Maintenance CAPEX	-	-	-	129M	98.4M
Cash Interest Paid	25.4M	24.1M	20M	24.1M	46.5M
Cash Income Tax Paid (Refund)	-	-	-	-	-
Levered Free Cash Flow	-94.84M	51.74M	-67.59M	-332M	-169M
Unlevered Free Cash Flow	-67.59M	76.49M	-48.28M	-311M	-134M
Change In Net Working Capital	-11.6M	2M	10.7M	-38.3M	92M
Net Debt Issued / Repaid	92.4M	-139M	-190M	280M	103M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.82	7.98	7.9	6.22	2.1
Return on Total Capital	4.46	11.18	11.75	8.27	2.71
Return On Equity %	5.35	-38.9	39.31	25.28	4.62
Return on Common Equity	5.35	-38.9	39.31	25.28	4.62
Margin Analysis
Gross Profit Margin %	24.5	37.47	30.47	25.26	15.74
SG&A Margin	12.82	15.29	7.85	7.61	8.03
EBITDA Margin %	26.57	34.11	35.43	30.57	25.05
EBITA Margin %	12.27	22.18	22.62	17.64	7.7
EBIT Margin %	12.27	22.18	22.62	17.64	7.7
Income From Continuing Operations Margin %	2.38	-13.13	22.09	19.45	4.25
Net Income Margin %	2.38	-13.13	22.09	19.45	4.25
Net Avail. For Common Margin %	2.38	-13.13	22.09	19.45	4.25
Normalized Net Income Margin	2.5	-4.22	16.93	13.99	4.17
Levered Free Cash Flow Margin	-19.49	7.74	-8.92	-33.93	-19.31
Unlevered Free Cash Flow Margin	-13.89	11.44	-6.37	-31.78	-15.26
Asset Turnover
Asset Turnover	0.5	0.58	0.56	0.56	0.44
Fixed Assets Turnover	0.6	0.71	0.7	0.7	0.55
Receivables Turnover (Average Receivables)	8.35	19.27	15.28	13.39	9.14
Inventory Turnover (Average Inventory)	188.41	220	284.81	266.33	250.64
Short Term Liquidity
Current Ratio	0.62	0.53	2.04	0.77	1.49
Quick Ratio	0.46	0.25	1.73	0.68	0.81
Operating Cash Flow to Current Liabilities	1.32	1.62	2.49	1.88	1.03
Days Sales Outstanding (Average Receivables)	43.69	19	23.89	27.27	39.95
Days Outstanding Inventory (Average Inventory)	1.94	1.66	1.28	1.37	1.46
Average Days Payable Outstanding	40.36	49.35	49.15	42.77	61.12
Cash Conversion Cycle (Average Days)	5.27	-28.69	-23.98