Financials Cargojet Inc.

Equities

CJT

CA14179V5036

Air Freight & Logistics

Delayed Toronto S.E. Other stock markets 10:50:21 2024-09-10 EDT			5-day change	1st Jan Change
125.00 ^CAD	-0.86%		-2.75%	+4.89%

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

Projected Income Statement: Cargojet Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	486.6	668.5	757.8	979.9	877.5	976.6	1,036	1,082
Change	-	37.38%	13.36%	29.31%	-10.45%	11.3%	6.11%	4.37%
EBITDA ¹	156	291.4	293.1	329	300.9	334.6	359.8	377.1
Change	-	86.79%	0.58%	12.25%	-8.54%	11.2%	7.54%	4.79%
EBIT ¹	56.8	148.3	171.4	172.9	67.6	143.8	174.6	198
Change	-	161.09%	15.58%	0.88%	-60.9%	112.72%	21.44%	13.39%
Interest Paid ¹	-43.6	-39.6	-30.9	-33.6	-56.8	-60	-52.42	-45.52
Earnings before Tax (EBT) ¹	20.8	-43.8	200.8	220	51.7	87.32	132.3	151.4
Change	-	-	-	9.56%	-76.5%	68.91%	51.5%	14.41%
Net income ¹	11.6	-87.8	167.4	190.6	37.3	58.32	100.8	112.2
Change	-	-	-	13.86%	-80.43%	56.37%	72.78%	11.34%
Announcement Date	20-02-20	21-03-01	22-03-07	23-03-06	24-02-26	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2
Net sales ¹	117.4	139.7	123	196.1	162.3	187.1	160.3	172.1	189.5	235.9	233.6	246.6	232.7	267	231.9	209.7	214	221.9	231.2	230.8	246.1	267.1	255.6	262.6	266.2	286.9	271.7	280.3
Change	-	18.99%	-11.95%	59.43%	-17.24%	15.28%	-14.32%	7.36%	10.11%	24.49%	-0.97%	5.57%	-5.64%	14.74%	-13.15%	-9.57%	2.05%	3.69%	4.19%	-0.17%	6.64%	8.54%	-4.3%	2.74%	1.33%	7.8%	-5.3%	3.17%
EBITDA ¹	39.1	47.2	40.2	91.1	78.1	81.9	64.2	67.4	70.9	90.5	83	81.1	82.1	82.9	75	74.3	70	81.6	78.4	79.1	84.79	92.46	85.95	86.7	92.65	102.6	94.15	91.6
Change	-	20.72%	-14.83%	126.62%	-14.27%	4.87%	-21.61%	4.98%	5.19%	27.64%	-8.29%	-2.29%	1.23%	0.97%	-9.53%	-0.93%	-5.79%	16.57%	-3.92%	0.89%	7.19%	9.05%	-7.04%	0.87%	6.86%	10.74%	-8.24%	-2.71%
EBIT ¹	15.5	20.6	14.5	63.4	43.8	38.1	33.1	36.2	39.5	62.6	46	51.2	44.2	31.5	27.8	28.4	18.3	-6.6	27.3	21.5	40.24	45.86	43.1	42.5	52.9	56.7	50.9	47.9
Change	-	32.9%	-29.61%	337.24%	-30.91%	-13.01%	-13.12%	9.37%	9.12%	58.48%	-26.52%	11.3%	-13.67%	-28.73%	-11.75%	2.16%	-35.56%	-	-	-21.25%	87.16%	13.97%	-6.02%	-1.39%	24.47%	7.18%	-10.23%	-5.89%
Charge d'intérêts ¹	-11.6	-11.4	-9.7	-9.9	-10.4	-9.6	-8.8	-7.4	-7.5	-7.2	-7	-6	-7.4	-13.2	-10.1	-13.5	-16.2	-17	-15.3	-15.2	-14.57	-14	-12.9	-12.1	-11.4	-10.1	-8.8	-7.9
Earnings before Tax (EBT) ¹	13.8	-0.2	-0.9	-28.5	-6.9	-7.5	91.1	-0.9	-3.8	114.4	-44.5	169.2	85.3	10	34.6	30.7	10	-23.7	37.6	-13.4	30.3	33.1	-	-	-	-	-	-
Change	-	-	350%	3,066.67%	-75.79%	8.7%	-	-	322.22%	-	-	-	-49.59%	-88.28%	246%	-11.27%	-67.43%	-	-	-	-	9.24%	-100%	-	-	-	-	-
Net income ¹	11.8	-4.5	-1.8	-45.1	-20.4	-20.5	89.4	-11.1	-12.9	102	-56.4	160.9	83.4	2.6	30.5	31.1	10.5	-34.9	32.5	-25	20.05	24.05	-	-	-	-	-	-
Change	-	-	-60%	2,405.56%	-54.77%	0.49%	-	-	16.22%	-	-	-	-48.17%	-96.88%	1,073.08%	1.97%	-66.24%	-	-	-	-	19.95%	-100%	-	-	-	-	-
Announcement Date	19-11-04	20-02-20	20-05-07	20-08-06	20-11-03	21-03-01	21-05-03	21-08-03	21-11-01	22-03-07	22-05-02	22-07-27	22-10-31	23-03-06	23-05-01	23-08-14	23-11-07	24-02-26	24-04-29	24-08-13	-	-	-	-	-	-	-	-

¹CAD in Million

Estimates

Forecast Balance Sheet: Cargojet Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	632	569	304	701	767	691	579	457
Change	-	-9.97%	-46.57%	130.59%	9.42%	-9.96%	-16.21%	-21.07%
Announcement Date	20-02-20	21-03-01	22-03-07	23-03-06	24-02-26	-	-	-

¹CAD in Million

Estimates

Cash Flow Forecast: Cargojet Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	218.1	146.6	277.6	611.2	266.7	112.3	176.7	186.7
Change	-	-32.78%	89.36%	120.17%	-56.36%	-57.88%	57.27%	5.66%
Free Cash Flow (FCF) ¹	-67.1	146	-32.6	-317.6	65.3	209.6	144.9	163.8
Change	-	-317.59%	-122.33%	874.23%	-120.56%	221%	-30.89%	13.08%
Announcement Date	20-02-20	21-03-01	22-03-07	23-03-06	24-02-26	-	-	-

¹CAD in Million

Estimates

Forecast Financial Ratios: Cargojet Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	32.06%	43.59%	38.68%	33.57%	34.29%	34.26%	34.72%	34.86%
EBIT Margin (%)	11.67%	22.18%	22.62%	17.64%	7.7%	14.72%	16.85%	18.31%
EBT Margin (%)	4.27%	-6.55%	26.5%	22.45%	5.89%	8.94%	12.77%	13.99%
Net margin (%)	2.38%	-13.13%	22.09%	19.45%	4.25%	5.97%	9.72%	10.37%
FCF margin (%)	-13.79%	21.84%	-4.3%	-32.41%	7.44%	21.46%	13.98%	15.14%
FCF / Net Income (%)	-578.45%	-166.29%	-19.47%	-166.63%	175.07%	359.38%	143.74%	145.99%
Profitability
ROA	-	-	-	-	-	-	-	-
ROE	5.35%	-38.9%	24.75%	15.81%	4.62%	8.45%	11.3%	12.8%
Financial Health
Leverage (Debt/EBITDA)	4.05x	1.95x	1.04x	2.13x	2.55x	2.07x	1.61x	1.21x
Debt / Free cash flow	-9.42x	3.9x	-9.32x	-2.21x	11.75x	3.3x	4x	2.79x
Capital Intensity
CAPEX / Current Assets (%)	44.82%	21.93%	36.63%	62.37%	30.39%	11.5%	17.05%	17.26%
CAPEX / EBITDA (%)	139.81%	50.31%	94.71%	185.78%	88.63%	33.57%	49.1%	49.51%
CAPEX / FCF (%)	-325.04%	100.41%	-851.53%	-192.44%	408.42%	53.59%	121.96%	113.96%
Items per share
Cash flow per share ¹	10.03	16.6	15.48	16.97	13.49	20.63	20.07	27.38
Change	-	65.51%	-6.74%	9.61%	-20.52%	52.91%	-2.68%	36.42%
Dividend per Share ¹	0.936	0.936	1.04	1.118	-	1.303	1.427	1.49
Change	-	0%	11.11%	7.5%	-	-	9.46%	4.44%
Book Value Per Share ¹	-	-	39.33	48.06	45.61	43.3	46.1	49.39
Change	-	-	-	22.22%	-5.1%	-5.07%	6.47%	7.14%
EPS ¹	0.85	-5.63	9.51	10.15	2.17	3.697	6.272	7.02
Change	-	-762.35%	-268.92%	6.73%	-78.62%	70.35%	69.68%	11.92%
Nbr of stocks (in thousands)	13,570	15,597	17,324	17,202	17,209	16,151	16,151	16,151
Announcement Date	20-02-20	21-03-01	22-03-07	23-03-06	24-02-26	-	-	-