Cash flow Pembina Pipeline Corporation

Equities

PPL

CA7063271034

Oil & Gas Transportation Services

Market Closed - Toronto S.E. Other stock markets 16:00:00 2025-01-23 EST			5-day change	1st Jan Change
53.43 ^CAD	-0.39%		+0.17%	+0.60%

01-20	Capstone Infrastructure Corp Brief: Says Secured Three Major Wind Projects in British Columbia Alongside Indigenous Partners	MT
01-15	TD Cowen Initiates Pembina Pipeline at Buy With CA$66 Price Target	MT

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Published financial data: PEMBINA PIPELINE CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	7.23B	6.2B	8.63B	11.61B	9.12B
Total Revenues	7.23B	6.2B	8.63B	11.61B	9.12B
Cost of Goods Sold, Total	5.19B	4.13B	6.13B	8.88B	6.58B
Gross Profit	2.04B	2.07B	2.49B	2.73B	2.54B
Selling General & Admin Expenses, Total	296M	208M	267M	399M	383M
Depreciation & Amortization - (IS)	-	38M	39M	-	39M
Other Operating Expenses	-17M	12M	229M	101M	15M
Other Operating Expenses, Total	279M	258M	535M	500M	437M
Operating Income	1.76B	1.81B	1.96B	2.23B	2.11B
Interest Expense, Total	-308M	-401M	-424M	-446M	-454M
Interest And Investment Income	1M	-	-	-	-
Net Interest Expenses	-307M	-401M	-424M	-446M	-454M
Income (Loss) On Equity Invest.	370M	-32M	281M	361M	316M
Currency Exchange Gains (Loss)	22M	-9M	9M	-12M	-15M
Other Non Operating Income (Expenses)	-9M	-10M	-35M	-28M	3M
EBT, Excl. Unusual Items	1.84B	1.36B	1.79B	2.11B	1.96B
Merger & Related Restructuring Charges	-12M	-	350M	-	-
Gain (Loss) On Sale Of Investments	-300M	-1.28B	-22M	-	-
Gain (Loss) On Sale Of Assets	-	-	-	1.11B	-
Asset Writedown	-	-499M	-452M	-	231M
EBT, Incl. Unusual Items	1.53B	-416M	1.66B	3.22B	2.19B
Income Tax Expense	36M	-100M	423M	248M	413M
Earnings From Continuing Operations	1.49B	-316M	1.24B	2.97B	1.78B
Net Income to Company	1.49B	-316M	1.24B	2.97B	1.78B
Net Income - (IS)	1.49B	-316M	1.24B	2.97B	1.78B
Preferred Dividend and Other Adjustments	131M	160M	144M	129M	128M
Net Income to Common Incl Extra Items	1.36B	-476M	1.1B	2.84B	1.65B
Net Income to Common Excl. Extra Items	1.36B	-476M	1.1B	2.84B	1.65B
Per Share Items
Net EPS - Basic	2.66	-0.87	2	5.14	3
Basic EPS - Continuing Operations	2.66	-0.87	2	5.14	3
Basic Weighted Average Shares Outstanding	512M	550M	550M	553M	550M
Net EPS - Diluted	2.65	-0.87	1.99	5.12	2.99
Diluted EPS - Continuing Operations	2.65	-0.87	1.99	5.12	2.99
Diluted Weighted Average Shares Outstanding	514M	550M	551M	554M	551M
Normalized Basic EPS	2.25	1.55	2.03	2.38	2.22
Normalized Diluted EPS	2.24	1.55	2.03	2.38	2.22
Dividend Per Share	2.36	2.52	2.52	2.55	2.66
Payout Ratio	88.67	-484.18	122.46	55.57	88.91
Supplemental Items
EBITDA	2.22B	2.44B	2.59B	2.85B	2.71B
EBITA	1.82B	1.94B	2.06B	2.34B	2.22B
EBIT	1.76B	1.81B	1.96B	2.23B	2.11B
Effective Tax Rate - (Ratio)	2.36	24.04	25.41	7.7	18.87
Total Current Taxes	210M	240M	286M	227M	325M
Total Deferred Taxes	-174M	-340M	137M	21M	88M
Normalized Net Income	1.15B	850M	1.12B	1.32B	1.22B
Interest Capitalized	42M	46M	25M	21M	15M
Interest on Long-Term Debt	350M	447M	449M	467M	469M
Non-Cash Pension Expense	0	1M	2M	-1M	-1M
Supplemental Operating Expense Items
General and Administrative Expenses	296M	82M	92M	399M	140M
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	66M	28M	100M	126M	72M
Total Stock-Based Compensation	66M	28M	100M	126M	72M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	129M	81M	43M	94M	137M
Trading Asset Securities, Total	-	-	-	16M	-
Total Cash And Short Term Investments	129M	81M	43M	110M	137M
Accounts Receivable, Total	575M	578M	750M	696M	698M
Other Receivables	92M	60M	30M	166M	1.36B
Total Receivables	667M	638M	780M	862M	2.05B
Inventory	126M	221M	376M	269M	333M
Prepaid Expenses	25M	24M	32M	32M	28M
Other Current Assets, Total	40M	25M	14M	89M	81M
Total Current Assets	987M	989M	1.24B	1.36B	2.63B
Gross Property Plant And Equipment	22.34B	22.3B	22.7B	19.82B	20.28B
Accumulated Depreciation	-2.74B	-3.1B	-3.92B	-3.79B	-3.96B
Net Property Plant And Equipment	19.6B	19.2B	18.77B	16.04B	16.32B
Long-term Investments	5.95B	4.38B	4.62B	7.38B	6.99B
Goodwill	4.68B	4.69B	4.69B	4.56B	4.55B
Other Intangibles, Total	1.74B	1.65B	1.54B	1.57B	1.51B
Accounts Receivable Long-Term	-	138M	211M	219M	230M
Deferred Tax Assets Long-Term	-	322M	257M	261M	285M
Other Long-Term Assets, Total	186M	50M	109M	81M	97M
Total Assets	33.15B	31.42B	31.46B	31.48B	32.62B
Liabilities
Accounts Payable, Total	717M	434M	652M	571M	555M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	74M	601M	1B	600M	650M
Current Portion of Leases	112M	99M	88M	79M	77M
Current Income Taxes Payable	103M	56M	-	-	18M
Unearned Revenue Current, Total	39M	62M	71M	56M	33M
Other Current Liabilities	412M	529M	579M	740M	1.89B
Total Current Liabilities	1.46B	1.78B	2.39B	2.05B	3.22B
Long-Term Debt	10.08B	10.28B	10.24B	10B	9.85B
Long-Term Leases	707M	675M	635M	596M	567M
Unearned Revenue Non Current	192M	230M	220M	138M	126M
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non Current	2.91B	2.92B	3.01B	2.51B	2.62B
Other Non Current Liabilities	1.04B	514M	598M	399M	419M
Total Liabilities	16.38B	16.4B	17.09B	15.69B	16.8B
Preferred Stock Redeemable	2.96B	2.95B	2.52B	2.21B	2.2B
Total Preferred Equity	2.96B	2.95B	2.52B	2.21B	2.2B
Common Stock, Total	15.54B	15.64B	15.68B	15.79B	15.76B
Retained Earnings	-1.88B	-3.64B	-3.92B	-2.61B	-2.37B
Comprehensive Income and Other	98M	2M	28M	341M	221M
Total Common Equity	13.75B	12.01B	11.79B	13.52B	13.61B
Minority Interest	60M	60M	60M	60M	-
Total Equity	16.77B	15.02B	14.36B	15.79B	15.81B
Total Liabilities And Equity	33.15B	31.42B	31.46B	31.48B	32.62B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	548M	550M	550M	550M	549M
ECS Total Common Shares Outstanding	548M	550M	550M	550M	549M
Book Value / Share	25.1	21.84	21.43	24.58	24.8
Tangible Book Value	7.32B	5.67B	5.55B	7.39B	7.55B
Tangible Book Value Per Share	13.37	10.31	10.09	13.44	13.75
Total Debt	10.97B	11.65B	11.96B	11.28B	11.14B
Net Debt	10.84B	11.57B	11.92B	11.16B	11.01B
Debt Equivalent of Unfunded Proj. Benefit Obligation	35M	44M	6M	-6M	9M
Minority Interest, Total (Incl. Fin. Div)	60M	60M	60M	60M	-
Equity Method Investments, Total	5.95B	4.38B	4.62B	7.37B	6.99B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	-	94M	100M	85M	84M
Inventories - Finished Goods, Total	-	127M	276M	184M	249M
Land - (BS)	456M	429M	456M	481M	480M
Full Time Employees	2.79K	2.62K	2.35K	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1.49B	-316M	1.24B	2.97B	1.78B
Depreciation & Amortization - CF	470M	592M	623M	590M	569M
Amortization of Goodwill and Intangible Assets - (CF)	54M	123M	100M	109M	110M
Depreciation & Amortization, Total	524M	715M	723M	699M	679M
(Gain) Loss From Sale Of Asset	-1M	-	-	-1.11B	-20M
(Gain) Loss on Sale of Investments - (CF)	300M	1.59B	22M	-	-
Asset Writedown & Restructuring Costs	-	499M	452M	-	-231M
(Income) Loss On Equity Investments - (CF)	205M	177M	180M	312M	503M
Stock-Based Compensation (CF)	16M	-17M	68M	81M	-5M
Other Operating Activities, Total	-110M	-304M	63M	-201M	143M
Change in Other Net Operating Assets	106M	-93M	-100M	177M	-210M
Cash from Operations	2.53B	2.25B	2.65B	2.93B	2.64B
Capital Expenditure	-1.69B	-1.08B	-683M	-626M	-621M
Sale of Property, Plant, and Equipment	-	-	-	31M	78M
Cash Acquisitions	-2.01B	-	-41M	-	-
Divestitures	-	-	-	609M	-
Investment in Marketable and Equity Securities, Total	-206M	-202M	-335M	-95M	-295M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	9M	11M	13M	13M
Other Investing Activities, Total	-8M	-215M	9M	-86M	36M
Cash from Investing	-3.91B	-1.48B	-1.04B	-154M	-789M
Long-Term Debt Issued, Total	4.47B	3.16B	1.59B	339M	504M
Total Debt Issued	4.47B	3.16B	1.59B	339M	504M
Long-Term Debt Repaid, Total	-1.93B	-2.52B	-1.31B	-1.08B	-676M
Total Debt Repaid	-1.93B	-2.52B	-1.31B	-1.08B	-676M
Issuance of Common Stock	151M	88M	16M	310M	1M
Repurchase of Common Stock	-	-	-17M	-333M	-50M
Issuance of Preferred Stock	-	-	-	-	-
Repurchase of Preferred Stock	-	-	-420M	-300M	-
Common Dividends Paid	-	-	-1.39B	-1.52B	-1.46B
Preferred Dividends Paid	-	-	-135M	-126M	-120M
Common & Preferred Stock Dividends Paid	-1.32B	-1.53B	-	-	-
Common & Preferred Stock Dividends Paid	-1.32B	-1.53B	-1.52B	-1.65B	-1.58B
Other Financing Activities, Total	-14M	-11M	-	-	-
Cash from Financing	1.35B	-809M	-1.66B	-2.72B	-1.8B
Foreign Exchange Rate Adjustments	-1M	-8M	16M	9M	-2M
Net Change in Cash	-28M	-48M	-38M	64M	44M
Supplemental Items
Cash Income Tax Paid (Refund)	141M	295M	355M	334M	236M
Levered Free Cash Flow	72M	320M	1.03B	1.33B	1.05B
Unlevered Free Cash Flow	264M	570M	1.29B	1.61B	1.33B
Change In Net Working Capital	-259M	230M	73M	-14M	113M
Net Debt Issued / Repaid	2.54B	644M	277M	-746M	-172M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.69	3.53	3.89	4.44	4.11
Return on Total Capital	4.44	4.16	4.62	5.23	4.88
Return On Equity %	9.57	-1.98	8.46	19.71	11.24
Return on Common Equity	10.6	-3.68	9.23	22.46	12.15
Margin Analysis
Gross Profit Margin %	28.26	33.38	28.9	23.55	27.89
SG&A Margin	4.09	3.35	3.09	3.44	4.2
EBITDA Margin %	30.73	39.36	30.02	24.55	29.72
EBITA Margin %	25.15	31.2	23.86	20.18	24.31
EBIT Margin %	24.4	29.22	22.7	19.24	23.1
Income From Continuing Operations Margin %	20.64	-5.1	14.4	25.59	19.46
Net Income Margin %	20.64	-5.1	14.4	25.59	19.46
Net Avail. For Common Margin %	18.82	-7.67	12.73	24.48	18.06
Normalized Net Income Margin	15.91	13.71	12.96	11.35	13.41
Levered Free Cash Flow Margin	1	5.16	11.89	11.46	11.52
Unlevered Free Cash Flow Margin	3.66	9.2	14.96	13.86	14.62
Asset Turnover
Asset Turnover	0.24	0.19	0.27	0.37	0.28
Fixed Assets Turnover	0.42	0.32	0.45	0.67	0.56
Receivables Turnover (Average Receivables)	13.45	10.76	12.99	16.14	13.09
Inventory Turnover (Average Inventory)	32.02	23.82	20.55	27.53	21.86
Short Term Liquidity
Current Ratio	0.68	0.56	0.52	0.67	0.82
Quick Ratio	0.55	0.4	0.34	0.48	0.68
Operating Cash Flow to Current Liabilities	1.74	1.26	1.11	1.43	0.82
Days Sales Outstanding (Average Receivables)	27.14	34.02	28.09	22.62	27.88
Days Outstanding Inventory (Average Inventory)	11.4	15.37	17.76	13.26	16.7
Average Days Payable Outstanding	44.1	49.83	31.51	24.89	30.93
Cash Conversion Cycle (Average Days)	-5.57	-0.44	14.34	10.99	13.65
Long Term Solvency
Total Debt/Equity	65.42	77.6	83.28	71.41	70.47
Total Debt / Total Capital	39.55	43.69	45.44	41.66	41.34
LT Debt/Equity	64.31	72.93	75.71	67.11	65.87
Long-Term Debt / Total Capital	38.88	41.07	41.31	39.15	38.64
Total Liabilities / Total Assets	49.42	52.21	54.34	49.84	51.52
EBIT / Interest Expense	5.73	4.52	4.62	5.01	4.64
EBITDA / Interest Expense	7.43	6.3	6.32	6.58	6.14
(EBITDA - Capex) / Interest Expense	1.95	3.62	4.71	5.17	4.77
Total Debt / EBITDA	4.8	4.61	4.46	3.84	4
Net Debt / EBITDA	4.74	4.58	4.45	3.81	3.95
Total Debt / (EBITDA - Capex)	18.25	8.02	5.99	4.89	5.14
Net Debt / (EBITDA - Capex)	18.04	7.97	5.97	4.84	5.08
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-1.65	-14.22	44.92	34.59	-21.41
Gross Profit, 1 Yr. Growth %	7.87	1.12	20.43	9.67	-6.91
EBITDA, 1 Yr. Growth %	8.97	10.7	6.1	9.4	-4.88
EBITA, 1 Yr. Growth %	8.93	7.2	6.36	12.97	-5.34
EBIT, 1 Yr. Growth %	9.57