Financials Pembina Pipeline Corporation

Equities

PPL

CA7063271034

Oil & Gas Transportation Services

Market Closed - Toronto S.E. 16:00:00 2024-07-19 EDT 5-day change 1st Jan Change
52.01 CAD +0.25% Intraday chart for Pembina Pipeline Corporation +1.01% +14.01%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 24,639 16,553 21,117 25,253 25,062 30,160 - -
Enterprise Value (EV) 1 35,481 27,348 32,313 35,759 35,424 44,353 44,041 43,607
P/E ratio 18.2 x -35 x 19.3 x 8.98 x 15.3 x 15.8 x 15.1 x 14.3 x
Yield 4.9% 8.37% 6.57% 5.55% 5.83% 5.28% 5.46% 5.6%
Capitalization / Revenue 3.41 x 2.67 x 2.45 x 2.17 x 2.75 x 3.31 x 3.05 x 2.83 x
EV / Revenue 4.91 x 4.41 x 3.75 x 3.08 x 3.88 x 4.87 x 4.46 x 4.09 x
EV / EBITDA 11.6 x 8.34 x 9.41 x 9.55 x 9.26 x 10.5 x 9.98 x 9.58 x
EV / FCF 40 x 22.4 x 16.2 x 15.4 x 17.5 x 30.6 x 20.9 x 18 x
FCF Yield 2.5% 4.47% 6.16% 6.5% 5.73% 3.26% 4.79% 5.54%
Price to Book 1.58 x 1.11 x 1.48 x 1.62 x 1.59 x - - -
Nbr of stocks (in thousands) 511,928 549,942 550,363 549,455 549,370 579,897 - -
Reference price 2 48.13 30.10 38.37 45.96 45.62 52.01 52.01 52.01
Announcement Date 2/27/20 2/25/21 2/24/22 2/23/23 2/22/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,230 6,202 8,627 11,611 9,125 9,108 9,885 10,666
EBITDA 1 3,061 3,281 3,433 3,746 3,824 4,234 4,414 4,552
EBIT 1 2,550 2,581 2,710 3,063 3,161 3,454 3,626 3,828
Operating Margin 35.27% 41.62% 31.41% 26.38% 34.64% 37.93% 36.68% 35.89%
Earnings before Tax (EBT) 1 1,528 -416 1,665 3,219 2,189 2,425 2,698 2,848
Net income 1 1,361 -476 1,098 2,842 1,648 1,791 1,908 2,048
Net margin 18.82% -7.67% 12.73% 24.48% 18.06% 19.67% 19.3% 19.21%
EPS 2 2.650 -0.8600 1.990 5.120 2.990 3.284 3.435 3.639
Free Cash Flow 1 887 1,223 1,992 2,324 2,029 1,448 2,111 2,418
FCF margin 12.27% 19.72% 23.09% 20.02% 22.24% 15.9% 21.35% 22.67%
FCF Conversion (EBITDA) 28.98% 37.28% 58.03% 62.04% 53.06% 34.2% 47.82% 53.12%
FCF Conversion (Net income) 65.17% - 181.42% 81.77% 123.12% 80.84% 110.63% 118.03%
Dividend per Share 2 2.360 2.520 2.520 2.550 2.660 2.746 2.838 2.911
Announcement Date 2/27/20 2/25/21 2/24/22 2/23/23 2/22/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 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
Net sales 1 2,560 3,038 3,095 2,779 2,699 2,297 2,070 2,292 2,466 1,540 - - - - -
EBITDA 1 970 1,006 849 967 925 947 823 1,021 1,033 1,044 1,004 1,069 1,123 1,106 1,076
EBIT 1 790 829 651 821 763 792 657 - 855 888 764.1 845.2 872.4 796 -
Operating Margin 30.86% 27.29% 21.03% 29.54% 28.27% 34.48% 31.74% - 34.67% 57.66% - - - - -
Earnings before Tax (EBT) 1 133 - - - - - - - - 529 557 676 697 - -
Net income 1 44 448 418 1,795 214 338 328 316 666 404 400.3 436 491 - -
Net margin 1.72% 14.75% 13.51% 64.59% 7.93% 14.71% 15.85% 13.79% 27.01% 26.23% - - - - -
EPS 2 0.0800 0.8100 0.6900 3.230 0.3900 0.6100 0.6000 0.5700 1.210 0.7300 0.7443 0.7764 0.8895 0.8500 0.8400
Dividend per Share 2 0.6300 0.6300 0.6300 0.6400 0.6500 0.6500 0.6700 0.6700 0.6700 0.6700 0.6898 0.6898 0.6898 0.6900 -
Announcement Date 2/24/22 5/5/22 8/4/22 11/3/22 2/23/23 5/4/23 8/3/23 11/2/23 2/22/24 5/9/24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 10,842 10,795 11,196 10,506 10,362 14,193 13,881 13,447
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.542 x 3.29 x 3.261 x 2.805 x 2.71 x 3.352 x 3.145 x 2.954 x
Free Cash Flow 1 887 1,223 1,992 2,324 2,029 1,448 2,111 2,418
ROE (net income / shareholders' equity) 10.6% 7.33% 8.28% 12.1% 10.4% 12.1% 12.3% 12.8%
ROA (Net income/ Total Assets) 5.52% 3.63% 3.85% 3.49% 5.14% 5.83% 5.93% 6.85%
Assets 1 24,670 -13,121 28,512 81,444 32,052 30,706 32,160 29,903
Book Value Per Share 30.50 27.20 26.00 28.40 28.80 - - -
Cash Flow per Share 2 4.940 4.100 4.820 5.300 4.790 5.130 5.400 5.340
Capex 1 1,645 1,029 658 605 606 1,007 890 969
Capex / Sales 22.75% 16.59% 7.63% 5.21% 6.64% 11.06% 9% 9.08%
Announcement Date 2/27/20 2/25/21 2/24/22 2/23/23 2/22/24 - - -
1CAD in Million2CAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
14
Last Close Price
52.01 CAD
Average target price
55.14 CAD
Spread / Average Target
+6.02%
Consensus
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