Financials Emera Incorporated Toronto S.E.

Equities

EMA.PR.F

CA2908768047

Electric Utilities

Market Closed - Toronto S.E. 21:00:00 28/06/2024 BST 5-day change 1st Jan Change
18.82 CAD +2.23% Intraday chart for Emera Incorporated +6.33% +8.60%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 13,451 13,581 16,432 13,955 13,996 13,151 - -
Enterprise Value (EV) 1 28,946 28,707 32,415 32,667 33,206 33,082 34,177 35,186
P/E ratio 20.2 x 14.3 x 31.9 x 14.5 x 14.1 x 15 x 14 x 13.2 x
Yield 4.26% 4.57% 4.07% 5.17% 5.54% 6.33% 6.51% 6.73%
Capitalization / Revenue 2.2 x 2.47 x 2.85 x 1.84 x 1.85 x 1.69 x 1.62 x 1.54 x
EV / Revenue 4.74 x 5.21 x 5.62 x 4.31 x 4.39 x 4.26 x 4.21 x 4.13 x
EV / EBITDA 12.4 x 12.3 x 13.7 x 12.2 x 11.4 x 10.5 x 10 x 9.87 x
EV / FCF -29.8 x -29.1 x -27.6 x -19.4 x -47.7 x 148 x - 38.5 x
FCF Yield -3.35% -3.43% -3.62% -5.15% -2.1% 0.67% - 2.59%
Price to Book 1.56 x 1.48 x 1.63 x 1.22 x 1.18 x 1.21 x 1.18 x 1.15 x
Nbr of stocks (in thousands) 241,097 251,037 259,911 269,665 278,255 288,084 - -
Reference price 2 55.79 54.10 63.22 51.75 50.30 45.65 45.65 45.65
Announcement Date 18/02/20 16/02/21 14/02/22 23/02/23 26/02/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 6,111 5,506 5,765 7,588 7,563 7,763 8,125 8,526
EBITDA 1 2,339 2,343 2,367 2,687 2,910 3,140 3,405 3,564
EBIT 1 1,436 1,172 930 1,629 1,794 1,914 2,087 2,249
Operating Margin 23.5% 21.29% 16.13% 21.47% 23.72% 24.65% 25.68% 26.38%
Earnings before Tax (EBT) 1 771 1,325 555 1,194 1,173 987.6 1,155 1,255
Net income 1 663 938 510 945 978 865.7 964.3 1,032
Net margin 10.85% 17.04% 8.85% 12.45% 12.93% 11.15% 11.87% 12.11%
EPS 2 2.760 3.780 1.980 3.560 3.570 3.033 3.267 3.450
Free Cash Flow 1 -970 -986 -1,174 -1,683 -696 223 - 913
FCF margin -15.87% -17.91% -20.36% -22.18% -9.2% 2.87% - 10.71%
FCF Conversion (EBITDA) - - - - - 7.1% - 25.62%
FCF Conversion (Net income) - - - - - 25.76% - 88.43%
Dividend per Share 2 2.375 2.475 2.575 2.678 2.788 2.887 2.972 3.074
Announcement Date 18/02/20 16/02/21 14/02/22 23/02/23 26/02/24 - - -
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
Net sales 1 1,868 2,015 1,380 1,835 2,358 2,433 1,418 1,740 1,972 2,018 1,770 2,026 1,938
EBITDA 1 582 660.8 589 597 755 809 668 728 705 795 756 830.9 815.2
EBIT 1 516 428.8 305 359 720 894 312 415 505 437 444 536 480
Operating Margin 27.62% 21.28% 22.1% 19.56% 30.53% 36.74% 22% 23.85% 25.61% 21.66% 25.09% 26.45% 24.76%
Earnings before Tax (EBT) 1 423 473 -118 186 653 738 -7 84 358 253 202 296 237
Net income 324 362 -67 167 483 560 28 101 289 - - - -
Net margin 17.34% 17.97% -4.86% 9.1% 20.48% 23.02% 1.97% 5.8% 14.66% - - - -
EPS 2 1.240 1.380 -0.2500 0.6300 1.800 2.070 0.1000 0.3700 1.040 0.7300 0.6200 0.8600 0.8400
Dividend per Share 2 0.6625 0.6625 0.6625 0.6625 0.6900 - 0.6900 0.6900 0.7175 0.7175 0.7194 0.7194 0.7416
Announcement Date 14/02/22 13/05/22 10/08/22 11/11/22 23/02/23 12/05/23 11/08/23 10/11/23 26/02/24 13/05/24 - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 15,495 15,126 15,983 18,712 19,210 19,931 21,026 22,035
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 6.625 x 6.456 x 6.752 x 6.964 x 6.601 x 6.347 x 6.174 x 6.183 x
Free Cash Flow 1 -970 -986 -1,174 -1,683 -696 223 - 913
ROE (net income / shareholders' equity) 8.39% 10.6% 5.28% 8.77% 8.32% 7.62% 8.19% 8.34%
ROA (Net income/ Total Assets) 2.07% 2.97% 1.56% 2.55% 2.47% 2.14% 2.35% 2.41%
Assets 1 32,078 31,540 32,738 36,994 39,611 40,515 41,018 42,798
Book Value Per Share 2 35.70 36.60 38.70 42.30 42.50 37.90 38.70 39.50
Cash Flow per Share 2 6.660 5.730 5.180 4.310 8.530 8.440 7.710 8.390
Capex 1 2,495 2,623 2,359 2,596 2,937 2,976 3,223 2,614
Capex / Sales 40.83% 47.64% 40.92% 34.21% 38.83% 38.34% 39.67% 30.66%
Announcement Date 18/02/20 16/02/21 14/02/22 23/02/23 26/02/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
12
Last Close Price
45.65 CAD
Average target price
51.82 CAD
Spread / Average Target
+13.51%
Consensus