Cash flow Quebecor Inc.

Equities

QBR.A

CA7481931094

Integrated Telecommunications Services

Market Closed - Toronto S.E. Other stock markets 09:51:35 2024-09-16 EDT			5-day change	1st Jan Change
35.02 ^CAD	+1.60%		+1.60%	+2.31%

09-17	Toronto Stocks Inch Up, Canadian CPI Growth Slows to 2%; Corus Rises on Buyout Interest Report	DJ
09-17	Quebecor and Corus Brief: Quebecor Made Offer to Buy Corus Months Ago, But Corus Has Not Yet Responded, The Globe and Mail says, citing sources	MT

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Published financial data: QUEBECOR INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	4.29B	4.32B	4.55B	4.53B	5.43B
Total Revenues	4.29B	4.32B	4.55B	4.53B	5.43B
Cost of Goods Sold, Total	1.71B	1.73B	1.9B	1.9B	2.44B
Gross Profit	2.58B	2.59B	2.66B	2.63B	2.99B
Selling General & Admin Expenses, Total	708M	693M	706M	702M	754M
Depreciation & Amortization - (IS)	750M	803M	784M	768M	909M
Other Operating Expenses	-	-	-	6.2M	-1.7M
Other Operating Expenses, Total	1.46B	1.5B	1.49B	1.48B	1.66B
Operating Income	1.12B	1.09B	1.17B	1.16B	1.33B
Interest Expense, Total	-323M	-322M	-329M	-320M	-405M
Net Interest Expenses	-323M	-322M	-329M	-320M	-405M
Currency Exchange Gains (Loss)	2.2M	1.7M	1M	-2.5M	400K
Other Non Operating Income (Expenses)	-5.7M	7.3M	17.6M	-15.1M	-9.9M
EBT, Excl. Unusual Items	795M	780M	858M	818M	917M
Restructuring Charges	-28.6M	-39.2M	-4.1M	-8.3M	-30M
Merger & Related Restructuring Charges	-	-	-	-	-15.6M
Impairment of Goodwill	-	-	-	-	-4.8M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-	-	-	-3.7M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	49.6M	-68.7M	-	-
EBT, Incl. Unusual Items	766M	790M	785M	810M	863M
Income Tax Expense	206M	206M	197M	213M	228M
Earnings From Continuing Operations	561M	584M	588M	597M	635M
Earnings Of Discontinued Operations	97.5M	33.2M	-	-	-
Net Income to Company	658M	617M	588M	597M	635M
Minority Interest	-5.5M	-10.2M	-10M	3M	15.4M
Net Income - (IS)	653M	607M	578M	600M	650M
Net Income to Common Incl Extra Items	653M	607M	578M	600M	650M
Net Income to Common Excl. Extra Items	555M	574M	578M	600M	650M
Per Share Items
Net EPS - Basic	2.55	2.41	2.38	2.55	2.82
Basic EPS - Continuing Operations	2.17	2.28	2.38	2.55	2.82
Basic Weighted Average Shares Outstanding	256M	252M	244M	235M	231M
Net EPS - Diluted	2.55	2.35	2.29	2.55	2.8
Diluted EPS - Continuing Operations	2.17	2.22	2.29	2.55	2.8
Diluted Weighted Average Shares Outstanding	256M	256M	248M	235M	236M
Normalized Basic EPS	1.92	1.9	2.16	2.19	2.55
Normalized Diluted EPS	1.92	1.86	2.12	2.19	2.49
Dividend Per Share	0.39	0.8	1.1	1.2	1.2
Payout Ratio	15.36	33.12	46.27	47.04	42.6
Supplemental Items
EBITDA	1.73B	1.71B	1.75B	1.7B	1.91B
EBITA	1.13B	1.09B	1.17B	1.16B	1.33B
EBIT	1.12B	1.09B	1.17B	1.16B	1.33B
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	26.84	26.05	25.08	26.34	26.41
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	108M	209M	257M	277M	221M
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	97.8M	-2.9M	-59.9M	-63.3M	6.7M
Normalized Net Income	491M	477M	526M	514M	589M
Interest on Long-Term Debt	323M	322M	329M	320M	405M
Non-Cash Pension Expense	8.8M	10.1M	10.1M	7.1M	8.5M
Supplemental Operating Expense Items
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., Other (Total)	13.6M	4.9M	-3.8M	4.7M	7.5M
Total Stock-Based Compensation	13.6M	4.9M	-3.8M	4.7M	7.5M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	14M	137M	64.7M	6.6M	11.1M
Total Cash And Short Term Investments	14M	137M	64.7M	6.6M	11.1M
Accounts Receivable, Total	629M	672M	744M	738M	1.1B
Other Receivables	106M	109M	138M	164M	250M
Total Receivables	735M	780M	882M	902M	1.35B
Inventory	121M	113M	143M	205M	318M
Prepaid Expenses	-	-	-	-	-
Restricted Cash	-	-	162M	39.3M	-
Other Current Assets, Total	240M	251M	272M	658M	516M
Total Current Assets	1.11B	1.28B	1.52B	1.81B	2.19B
Gross Property Plant And Equipment	9.35B	9.6B	9.83B	10.04B	11.11B
Accumulated Depreciation	-5.82B	-6.27B	-6.62B	-6.99B	-7.35B
Net Property Plant And Equipment	3.53B	3.33B	3.21B	3.05B	3.76B
Long-term Investments	680M	605M	159M	151M	147M
Goodwill	2.69B	2.71B	2.72B	2.73B	2.72B
Other Intangibles, Total	1.5B	1.52B	2.42B	2.36B	3.47B
Accounts Receivable Long-Term	53.2M	72.3M	128M	128M	219M
Deferred Tax Assets Long-Term	31.2M	45.5M	39.2M	22M	23.4M
Deferred Charges Long-Term	57.7M	88.3M	106M	99.5M	105M
Other Long-Term Assets, Total	75.1M	199M	461M	272M	107M
Total Assets	9.73B	9.86B	10.76B	10.63B	12.74B
Liabilities
Accounts Payable, Total	579M	667M	682M	771M	926M
Accrued Expenses, Total	215M	187M	164M	162M	229M
Short-term Borrowings	29.4M	1.7M	-	10.1M	9.6M
Current Portion of Long-Term Debt	57.2M	28.5M	56.5M	1.16B	1.63B
Current Portion of Leases	31.3M	34.3M	36.1M	37M	98.5M
Current Income Taxes Payable	4.2M	70M	47.4M	31.2M	24.7M
Unearned Revenue Current, Total	333M	308M	472M	345M	371M
Other Current Liabilities	15.9M	18.4M	14.9M	17.5M	30.6M
Total Current Liabilities	1.26B	1.31B	1.47B	2.53B	3.32B
Long-Term Debt	6.05B	5.9B	6.64B	5.47B	6.15B
Long-Term Leases	107M	139M	147M	149M	278M
Unearned Revenue Non Current	-	-	-	-	-
Pension & Other Post Retirement Benefits	222M	324M	166M	65.7M	55.2M
Deferred Tax Liability Non Current	859M	848M	830M	780M	810M
Other Non Current Liabilities	150M	125M	127M	144M	289M
Total Liabilities	8.65B	8.65B	9.38B	9.14B	10.9B
Common Stock, Total	1.06B	1.02B	965M	916M	915M
Additional Paid In Capital	17.4M	17.4M	17.4M	17.4M	17.4M
Retained Earnings	-31.7M	211M	292M	422M	789M
Comprehensive Income and Other	-64.1M	-134M	-19.3M	1.8M	5.8M
Total Common Equity	978M	1.11B	1.26B	1.36B	1.73B
Minority Interest	94.6M	102M	123M	126M	111M
Total Equity	1.07B	1.21B	1.38B	1.48B	1.84B
Total Liabilities And Equity	9.73B	9.86B	10.76B	10.63B	12.74B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	254M	247M	239M	231M	231M
ECS Total Common Shares Outstanding	255M	248M	239M	231M	231M
Book Value / Share	3.84	4.48	5.25	5.88	7.49
Tangible Book Value	-3.21B	-3.13B	-3.88B	-3.73B	-4.46B
Tangible Book Value Per Share	-12.62	-12.59	-16.21	-16.16	-19.33
Total Debt	6.28B	6.1B	6.88B	6.83B	8.17B
Net Debt	6.26B	5.96B	6.82B	6.82B	8.16B
Debt Equivalent of Unfunded Proj. Benefit Obligation	147M	241M	59.3M	-119M	-88.6M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	94.6M	102M	123M	126M	111M
Account Code - Inventory Valuation	3	3	3	-	3
Inventories - Raw Materials, Total	27.6M	29.1M	-	-	-
Inventories - Work In Process, Total	-	-	-	-	-
Inventories - Finished Goods, Total	93.5M	83.6M	-	-	-
Film Contract & Broadcasting Rights - Long-Term, Total	54.7M	57.3M	72.5M	88.3M	80.4M
Land - (BS)	636M	666M	665M	664M	677M
Machinery, Total	1.99B	2.03B	1.85B	1.78B	1.73B
Full Time Employees	10K	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	19.6M	20.8M	18.5M	15.3M	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	653M	607M	578M	600M	650M
Depreciation & Amortization - CF	634M	660M	618M	591M	682M
Amortization of Goodwill and Intangible Assets - (CF)	11.5M	-	-	-	-
Depreciation & Amortization, Total	645M	660M	618M	591M	682M
Amortization of Deferred Charges, Total - (CF)	113M	152M	173M	184M	235M
(Gain) Loss From Sale Of Asset	-	-	-19.4M	500K	-2.9M
Asset Writedown & Restructuring Costs	18.8M	8.5M	1.5M	3.7M	8.5M
Net Cash From Discontinued Operations	-700K	7.1M	-	-	-
Other Operating Activities, Total	11M	-35.5M	17.5M	-53.1M	-2.2M
Change In Accounts Receivable	3.3M	-82.2M	-117M	-7.8M	-142M
Change In Inventories	-32.1M	-12.5M	-46.9M	-139M	-25.8M
Change In Accounts Payable	-18.4M	90.5M	23.5M	81M	86.8M
Change in Unearned Revenues	-12.9M	-29.7M	6.3M	-3.5M	-8.1M
Change In Income Taxes	-133M	79.5M	-24.7M	-19.1M	-65M
Change in Other Net Operating Assets	-36.1M	-5.6M	-28.6M	24.9M	44.7M
Cash from Operations	1.21B	1.44B	1.18B	1.26B	1.46B
Capital Expenditure	-502M	-447M	-429M	-395M	-397M
Sale of Property, Plant, and Equipment	4.2M	4.4M	7.7M	7M	1.7M
Cash Acquisitions	-35.6M	-47.1M	-21M	-22.1M	-2.07B
Divestitures	261M	200K	-	-	-
Sale (Purchase) of Intangible assets	-497M	-206M	-1.02B	-91.4M	-166M
Investment in Marketable and Equity Securities, Total	-	-	-75.2M	-6.6M	-7M
Other Investing Activities, Total	-30.6M	-18.3M	-	-123M	-39.3M
Cash from Investing	-800M	-714M	-1.54B	-631M	-2.68B
Short Term Debt Issued, Total	5.1M	-	-	10.1M	-
Long-Term Debt Issued, Total	800M	-	2.26B	-	2.39B
Total Debt Issued	805M	-	2.26B	10.1M	2.39B
Short Term Debt Repaid, Total	-	-27.7M	-1.7M	-	-500K
Long-Term Debt Repaid, Total	-1.12B	-170M	-1.61B	-301M	-1.23B
Total Debt Repaid	-1.12B	-198M	-1.61B	-301M	-1.23B
Issuance of Common Stock	8.3M	-	-	-	-
Repurchase of Common Stock	-94.6M	-201M	-282M	-237M	-7.8M
Common Dividends Paid	-100M	-201M	-268M	-282M	-277M
Common & Preferred Stock Dividends Paid	-100M	-201M	-268M	-282M	-277M
Other Financing Activities, Total	80.7M	-1.8M	184M	-2.9M	307M
Cash from Financing	-418M	-602M	282M	-813M	1.18B
Net Change in Cash	-7M	123M	-72M	-181M	-34.8M
Supplemental Items
Cash Interest Paid	307M	316M	332M	311M	390M
Cash Income Tax Paid (Refund)	239M	128M	282M	282M	285M
Levered Free Cash Flow	128M	693M	-356M	417M	816M
Unlevered Free Cash Flow	321M	886M	-159M	610M	1.06B
Change In Net Working Capital	145M	-48.1M	221M	399M	125M
Net Debt Issued / Repaid	-312M	-198M	648M	-291M	1.16B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	7.23	6.97	7.08	6.75	7.12
Return on Total Capital	9.56	9.31	9.36	8.72	9.09
Return On Equity %	68.37	51.11	45.39	41.69	38.25
Return on Common Equity	76.2	54.93	48.85	45.9	42.18
Margin Analysis
Gross Profit Margin %	60.09	59.94	58.37	58.06	55.08
SG&A Margin	16.49	16.05	15.5	15.49	13.88
EBITDA Margin %	40.33	39.7	38.33	37.6	35.22
EBITA Margin %	26.4	25.29	25.65	25.5	24.5
EBIT Margin %	26.13	25.29	25.65	25.5	24.5
Income From Continuing Operations Margin %	13.06	13.53	12.92	13.17	11.69
Net Income Margin %	15.2	14.06	12.7	13.23	11.97
Net Avail. For Common Margin %	12.93	13.29	12.7	13.23	11.97
Normalized Net Income Margin	11.45	11.05	11.56	11.35	10.83
Levered Free Cash Flow Margin	2.97	16.05	-7.82	9.2	15.01
Unlevered Free Cash Flow Margin	7.49	20.51	-3.48	13.45	19.51
Asset Turnover
Asset Turnover	0.44	0.44	0.44	0.42	0.47
Fixed Assets Turnover	1.21	1.26	1.39	1.45	1.6
Receivables Turnover (Average Receivables)	6.92	6.68	6.61	6.12	5.91
Inventory Turnover (Average Inventory)