Company Valuation: Imperial Oil Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 31,604 38,525 40,445 45,877 58,918 80,779 - -
Change - 21.9% 4.98% 13.43% 28.42% 37.11% - -
Enterprise Value (EV) 1 34,627 38,931 43,713 48,909 61,773 83,290 83,499 82,953
Change - 12.43% 12.28% 11.89% 26.3% 34.83% 0.25% -0.65%
P/E ratio 13.1x 5.76x 8.89x 9.81x 18.3x 15.7x 17.8x 18.3x
PBR 1.42x 1.72x 1.82x 1.92x 2.58x 3.39x 3.2x 3.04x
PEG - 0x -0.3x 1.54x -0.6x 0.2x -1.5x -6.99x
Capitalization / Revenue 0.84x 0.65x 0.79x 0.89x 1.25x 1.4x 1.41x 1.44x
EV / Revenue 0.92x 0.65x 0.86x 0.95x 1.31x 1.44x 1.46x 1.48x
EV / EBITDA 6.52x 3.48x 5.24x 5.92x 9.01x 8.69x 10.1x 10.4x
EV / EBIT 10.4x 4.2x 6.79x 7.79x 14.5x 12.4x 13.6x 13.5x
EV / FCF 7.99x 5.21x 9.4x 10.6x 15.3x 16.3x 17.6x 16.2x
FCF Yield 12.5% 19.2% 10.6% 9.42% 6.52% 6.13% 5.67% 6.17%
Dividend per Share 2 1.03 1.46 1.94 2.4 2.88 3.349 3.39 3.874
Rate of return 2.26% 2.21% 2.57% 2.71% 2.43% 2% 2.03% 2.32%
EPS 2 3.48 11.44 8.49 9.03 6.48 10.63 9.359 9.114
Distribution rate 29.6% 12.8% 22.9% 26.6% 44.4% 31.5% 36.2% 42.5%
Net sales 1 37,590 59,670 50,969 51,532 47,078 57,846 57,375 55,968
EBITDA 1 5,314 11,172 8,345 8,263 6,853 9,586 8,278 7,946
EBIT 1 3,337 9,275 6,438 6,280 4,274 6,721 6,132 6,141
Net income 1 2,479 7,340 4,889 4,790 3,268 5,779 4,351 4,212
Net Debt 1 3,023 406 3,268 3,032 2,855 2,510 2,720 2,174
Reference price 2 45.62 65.95 75.48 88.59 118.58 167.04 167.04 167.04
Nbr of stocks (in thousands) 692,765 584,153 535,837 517,861 496,861 483,593 - -
Announcement Date 2/1/22 1/31/23 2/2/24 1/31/25 1/30/26 - - -
1CAD in Million2CAD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.71x1.44x8.69x2% 59.09B
13.96x1.65x7.16x2.83% 609B
22.14x2.06x11.26x0.44% 200B
9.07x0.64x3.24x4.67% 113B
10.26x0.3x4.68x6.87% 93.08B
10.81x1.88x5.03x2.9% 72.66B
9.4x0.57x6.81x2.16% 66.86B
8.54x0.66x5.97x1.89% 62.93B
10.51x0.51x7.63x3.2% 62.7B
8.47x0.74x4.32x4.4% 38.62B
Average 11.89x 1.05x 6.48x 3.14% 137.7B
Weighted average by Cap. 13.62x 1.36x 7.09x 2.86%

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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