Company Valuation: TransAlta Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,808 3,268 3,415 6,067 5,151 5,472 - -
Change - -14.17% 4.48% 77.67% -15.1% 6.24% - -
Enterprise Value (EV) 1 6,863 6,542 7,280 9,539 9,289 10,673 10,473 10,066
Change - -4.67% 11.27% 31.03% -2.62% 14.91% -1.88% -3.89%
P/E -6.6x 1,211x 4.73x 34.5x -27.1x 157x 42.7x 44.9x
PBR 2.41x 2.96x - - - 6.68x 6.18x 5.15x
PEG - -12x 0x -0.5x 0x -1x 0x -9.09x
Capitalization / Revenue 1.4x 1.1x 1.02x 2.13x 2.14x 2.56x 2.39x 2.12x
EV / Revenue 2.52x 2.2x 2.17x 3.35x 3.86x 5x 4.57x 3.9x
EV / EBITDA 5.43x 4x 4.46x 7.61x 8.41x 10.8x 9.1x 7.78x
EV / EBIT 9.35x 6.32x 7.2x 13.2x 17.7x 21.6x 15.4x 13.1x
EV / FCF 13.2x -90.9x 8.18x 16.8x 18.1x 26.1x 18.6x 21.7x
FCF Yield 7.59% -1.1% 12.2% 5.97% 5.53% 3.84% 5.37% 4.6%
Dividend per Share 2 0.19 0.205 0.22 0.24 0.26 0.2778 0.2896 0.3003
Rate of return 1.35% 1.69% 2% 1.18% 1.5% 1.61% 1.67% 1.74%
EPS 2 -2.13 0.01 2.33 0.59 -0.64 0.11 0.405 0.385
Distribution rate -8.92% 2,050% 9.44% 40.7% -40.6% 253% 71.5% 78%
Net sales 1 2,721 2,976 3,355 2,845 2,405 2,134 2,294 2,584
EBITDA 1 1,263 1,634 1,632 1,253 1,104 987.4 1,151 1,294
EBIT 1 734 1,035 1,011 722 525 495 678.2 765.7
Net income 1 -576 4 644 177 -190 52.5 158.5 195.7
Net Debt 1 3,055 3,274 3,865 3,472 4,138 5,201 5,001 4,594
Reference price 2 14.05 12.11 11.02 20.33 17.36 17.30 17.30 17.30
Nbr of stocks (in thousands) 271,015 269,888 309,865 298,417 296,700 316,300 - -
Announcement Date 2/24/22 2/23/23 2/23/24 2/20/25 2/27/26 - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
33.72x7.53x20.19x-.--% 43.41B
14.54x2.83x10.54x2.89% 33.6B
14.99x4.77x8.63x3.67% 16.57B
15.65x5.11x10.69x-.--% 14.59B
7.93x2.91x7.8x5.15% 12.8B
4.57x0.66x3.22x2.81% 8.37B
10.27x1.59x8.18x4.58% 7.66B
54.46x4.24x10.07x4.24% 7.44B
Average 19.52x 3.71x 9.91x 2.92% 18.05B
Weighted average by Cap. 21.14x 4.59x 12.42x 2.18%

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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  5. Valuation TransAlta Corporation