Company Valuation: Keyera Corp.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 6,306 6,781 7,340 10,074 10,088 17,228 - -
Change - 7.53% 8.25% 37.25% 0.15% 70.77% - -
Enterprise Value (EV) 1 9,988 10,685 11,606 13,856 14,053 24,805 24,485 23,881
Change - 6.98% 8.63% 19.38% 1.43% 76.51% -1.29% -2.47%
P/E 19.4x 20x 17.3x 20.7x 23.3x 24.8x 19x 18.1x
PBR 2.37x 2.32x - - 3.65x 2.97x 3.14x 3.04x
PEG - 29.4x 0.7x 1.4x -2.1x 1x 0.6x 3.84x
Capitalization / Revenue 1.26x 0.96x 1.04x 1.41x 1.47x 1.83x 1.5x 1.43x
EV / Revenue 2x 1.51x 1.65x 1.94x 2.05x 2.64x 2.13x 1.99x
EV / EBITDA 10.4x 10.3x 9.58x 10.9x 12.4x 15.7x 11.1x 10.3x
EV / EBIT 14.3x 13.8x 13.1x 15x 18.6x 22.8x 15.7x 14.3x
EV / FCF 46.8x - 18.2x 13.7x 50.3x 111x 24.5x 17.1x
FCF Yield 2.14% - 5.51% 7.31% 1.99% 0.9% 4.07% 5.84%
Dividend per Share 2 1.92 1.92 1.96 2.04 3.35 2.213 2.306 2.385
Rate of return 6.73% 6.49% 6.12% 4.64% 7.61% 3.77% 3.93% 4.06%
EPS 2 1.47 1.48 1.85 2.12 1.89 2.366 3.096 3.242
Distribution rate 131% 130% 106% 96.2% 177% 93.5% 74.5% 73.6%
Net sales 1 4,985 7,060 7,053 7,138 6,854 9,399 11,477 12,012
EBITDA 1 955.8 1,032 1,212 1,275 1,131 1,578 2,204 2,320
EBIT 1 698.2 774.2 889.3 922.9 756.5 1,089 1,557 1,675
Net income 1 324.2 328.3 424 486.6 432.3 631.1 889.1 952
Net Debt 1 3,682 3,904 4,266 3,782 3,965 7,577 7,257 6,653
Reference price 2 28.53 29.59 32.03 43.96 44.00 58.71 58.71 58.71
Nbr of stocks (in thousands) 221,023 229,153 229,153 229,153 229,283 293,441 - -
Announcement Date 2/16/22 2/15/23 2/14/24 2/13/25 2/12/26 - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.46x1.72x7.42x2.52% 679B
20.5x1.69x9.82x0.45% 186B
7.63x0.6x2.79x4.55% 116B
7.14x0.76x5.1x1.13% 101B
8.53x0.69x5.29x1.39% 100B
9.21x0.66x6.79x2.09% 96.91B
10.58x0.31x4.9x6.42% 86.95B
9.53x1.86x4.8x2.57% 80.06B
12.77x1.51x8.39x1.8% 66.73B
Average 11.15x 1.09x 6.14x 2.55% 168.13B
Weighted average by Cap. 12.90x 1.35x 6.78x 2.42%

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