Company Valuation: Loblaw Companies Limited

Data adjusted to current consolidation scope
Fiscal Period: January 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 34,558 38,990 39,923 57,657 72,977 72,266 - -
Change - 12.82% 2.39% 44.42% 26.57% -0.98% - -
Enterprise Value (EV) 1 48,672 45,547 57,246 73,931 88,241 76,278 76,185 76,196
Change - -6.42% 25.69% 29.14% 19.36% -13.56% -0.12% 0.01%
P/E 19x 20.9x 19.6x 27.4x 28x 24.2x 21.7x 20.8x
PBR - - - 5.27x 6.69x 6.32x 5.76x 5.29x
PEG - 3.8x 1.5x 3.8x 1x 1.5x 1.9x 4.62x
Capitalization / Revenue 0.65x 0.69x 0.67x 0.94x 1.13x 1.1x 1.06x 1.02x
EV / Revenue 0.92x 0.81x 0.96x 1.21x 1.36x 1.16x 1.12x 1.08x
EV / EBITDA 8.71x 7.37x 8.61x 10.5x 11.7x 10.1x 9.42x 9.12x
EV / EBIT 14.2x 11.7x 13.5x 16.2x 17.8x 15.7x 14.4x 14x
EV / FCF 24.8x 29.8x 16x 44.2x 43.1x 34.6x 29.6x 26.1x
FCF Yield 4.02% 3.35% 6.26% 2.26% 2.32% 2.89% 3.38% 3.83%
Dividend per Share 2 0.35 0.395 0.4358 0.4962 0.5515 0.6133 0.64 0.67
Rate of return 1.35% 1.31% 1.37% 1.04% 0.89% 0.98% 1.02% 1.07%
EPS 2 1.362 1.438 1.63 1.748 2.22 2.59 2.89 3.02
Distribution rate 25.7% 27.5% 26.7% 28.4% 24.8% 23.7% 22.1% 22.2%
Net sales 1 53,170 56,504 59,529 61,014 64,814 65,494 68,029 70,602
EBITDA 1 5,587 6,181 6,647 7,024 7,533 7,543 8,084 8,356
EBIT 1 3,429 3,883 4,240 4,557 4,948 4,849 5,280 5,460
Net income 1 1,863 1,909 2,088 2,155 2,667 3,068 3,327 3,381
Net Debt 1 14,114 6,557 17,323 16,274 15,264 4,013 3,919 3,931
Reference price 2 25.91 30.08 31.88 47.88 62.09 62.78 62.78 62.78
Nbr of stocks (in thousands) 1,333,771 1,296,093 1,252,501 1,204,320 1,175,349 1,151,092 - -
Announcement Date 2/24/22 2/23/23 2/22/24 2/20/25 2/25/26 - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.24x1.16x10.11x0.98% 51.65B
37.08x1.19x18.3x0.93% 847B
15.79x0.54x7.95x3.26% 40.05B
15.84x0.63x11.72x2.8% 38.92B
12.07x0.34x6.32x2.45% 36.21B
26.23x0.82x9.48x2.81% 33.3B
11.93x0.46x5.8x3.95% 32.09B
20.87x0.77x6.43x1.24% 27.11B
51.79x0.56x9.38x1.09% 23.95B
23.16x0.6x11.65x-.--% 19.94B
Average 23.90x 0.71x 9.71x 1.95% 115.04B
Weighted average by Cap. 32.92x 1.06x 15.79x 1.26%

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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