Announcement • 23h
The North West Company Inc. to Report Q1, 2027 Results on Jun 10, 2026 The North West Company Inc. announced that they will report Q1, 2027 results Pre-Market on Jun 10, 2026 Announcement • Apr 14
The North West Company Inc., Annual General Meeting, Jun 10, 2026 The North West Company Inc., Annual General Meeting, Jun 10, 2026. Declared Dividend • Apr 12
Fourth quarter dividend of CA$0.41 announced Shareholders will receive a dividend of CA$0.41. Ex-date: 15th April 2026 Payment date: 24th April 2026 Dividend yield will be 3.0%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Reported Earnings • Apr 09
Full year 2026 earnings released: EPS: CA$2.92 (vs CA$2.87 in FY 2025) Full year 2026 results: EPS: CA$2.92 (up from CA$2.87 in FY 2025). Revenue: CA$2.60b (flat on FY 2025). Net income: CA$139.5m (up 1.6% from FY 2025). Profit margin: 5.4% (up from 5.3% in FY 2025). Like-for-like sales growth: 0.3% vs FY 2025 Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 11% per year. Board Change • Apr 09
High number of new directors Director Paul Soubry was the last director to join the board, commencing their role in 2026. New Risk • Feb 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 35% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (35% increase in shares outstanding). Minor Risk Dividend is not well covered by cash flows (91% cash payout ratio). Recent Insider Transactions Derivative • Jan 21
CEO, President & Director exercised options to buy CA$340k worth of stock. On the 19th of January, Daniel McConnell exercised options to buy 7k shares at a strike price of around CA$49.41, costing a total of CA$339k. This transaction amounted to 16% of their direct individual holding at the time of the trade. Since March 2025, Daniel has owned 43.33k shares directly. Company insiders have collectively sold CA$3.8k more than they bought, via options and on-market transactions in the last 12 months. New Risk • Jan 13
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 35% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (35% increase in shares outstanding). Minor Risk Dividend is not well covered by cash flows (91% cash payout ratio). Upcoming Dividend • Dec 27
Upcoming dividend of CA$0.41 per share Eligible shareholders must have bought the stock before 31 December 2025. Payment date: 15 January 2026. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Canadian dividend payers (5.9%). Higher than average of industry peers (1.2%). Declared Dividend • Dec 12
Third quarter dividend of CA$0.41 announced Shareholders will receive a dividend of CA$0.41. Ex-date: 31st December 2025 Payment date: 15th January 2026 Dividend yield will be 3.4%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 3.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Dec 11
Third quarter 2026 earnings released: EPS: CA$0.84 (vs CA$0.74 in 3Q 2025) Third quarter 2026 results: EPS: CA$0.84 (up from CA$0.74 in 3Q 2025). Revenue: CA$634.3m (flat on 3Q 2025). Net income: CA$40.1m (up 13% from 3Q 2025). Profit margin: 6.3% (up from 5.5% in 3Q 2025). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 10% per year. Announcement • Dec 10
The North West Company Inc. Announces a Quarterly Dividend, Payable on January 15, 2026 The North West Company Inc. announced that the Board of Directors has declared a quarterly dividend of $0.41 to shareholders of record on December 31, 2025, to be paid on January 15, 2026. Announcement • Dec 03
The North West Company Inc. to Report Q3, 2026 Results on Dec 09, 2025 The North West Company Inc. announced that they will report Q3, 2026 results After-Market on Dec 09, 2025 Upcoming Dividend • Sep 25
Upcoming dividend of CA$0.41 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 15 October 2025. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Canadian dividend payers (5.8%). Higher than average of industry peers (1.2%). Declared Dividend • Sep 11
Second quarter dividend of CA$0.41 announced Shareholders will receive a dividend of CA$0.41. Ex-date: 29th September 2025 Payment date: 15th October 2025 Dividend yield will be 3.3%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 4.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Sep 10
Second quarter 2026 earnings released: EPS: CA$0.75 (vs CA$0.74 in 2Q 2025) Second quarter 2026 results: EPS: CA$0.75 (up from CA$0.74 in 2Q 2025). Revenue: CA$647.0m (flat on 2Q 2025). Net income: CA$36.1m (up 2.2% from 2Q 2025). Profit margin: 5.6% (up from 5.5% in 2Q 2025). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 09
the North West Company Inc. Declares Quarterly Dividend, Payable on October 15, 2025 The North West Company Inc. announced that the Board of Directors declared a quarterly dividend of $0.41, an increase of $0.01 or 2.5% per share, to shareholders of record on September 29, 2025, to be paid on October 15, 2025. Announcement • Aug 30
The North West Company Inc. to Report Q2, 2026 Results on Sep 08, 2025 The North West Company Inc. announced that they will report Q2, 2026 results After-Market on Sep 08, 2025 Announcement • Aug 01
The North West Company Inc. Appoints Gregg Saretsky as A Director of North West, Effective August 1, 2025 The North West Company Inc. announced the appointment of Gregg Saretsky as a director of North West, effective August 1, 2025. Gregg Saretsky is a seasoned corporate director with deep experience in the global aviation industry. He currently serves on the board of directors of InterGlobe Aviation Limited, India's largest airline, and on the board of directors of Southwest Airlines. From 2010 to 2018, Mr. Saretsky served as President and Chief Executive Officer of WestJet Airlines Ltd., and he previously held senior-level commercial and operational roles at Alaska Air Group Inc. and, prior to its acquisition by Air Canada, Canadian Airlines International Ltd. Mr. Saretsky earned a B.Sc. and an M.B.A. from the University of British Columbia. New Risk • Jul 31
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 38% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Declared Dividend • Jun 13
First quarter dividend of CA$0.40 announced Shareholders will receive a dividend of CA$0.40. Ex-date: 27th June 2025 Payment date: 15th July 2025 Dividend yield will be 3.2%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (65% cash payout ratio). The dividend has increased by an average of 3.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 12
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: EPS: CA$0.54 (up from CA$0.54 in 1Q 2025). Revenue: CA$641.4m (up 3.9% from 1Q 2025). Net income: CA$25.8m (up 1.2% from 1Q 2025). Profit margin: 4.0% (down from 4.1% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 1.9%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 11
The North West Company Inc. Declares Quarterly Dividend, Payable on July 15, 2025 The North West Company Inc. announced that the Board of Directors has declared a quarterly dividend of $0.40 to shareholders of record on June 27, 2025, to be paid on July 15, 2025. Recent Insider Transactions Derivative • Apr 30
CEO, President & Director exercised options and sold CA$293k worth of stock On the 22nd of April, Daniel McConnell exercised 11k options at a strike price of around CA$28.13 and sold these shares for an average price of CA$54.95 per share. This trade did not impact their existing holding. For the year to January 2019, Daniel's total compensation was 18% salary and 82% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2024, Daniel's direct individual holding has increased from 43.33k shares to 86.66k. Company insiders have collectively bought CA$595k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Apr 15
The North West Company Inc., Annual General Meeting, Jun 11, 2025 The North West Company Inc., Annual General Meeting, Jun 11, 2025. Declared Dividend • Apr 14
Fourth quarter dividend of CA$0.40 announced Shareholders will receive a dividend of CA$0.40. Ex-date: 16th April 2025 Payment date: 24th April 2025 Dividend yield will be 2.9%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 3.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 10
Full year 2025 earnings released: EPS: CA$2.87 (vs CA$2.71 in FY 2024) Full year 2025 results: EPS: CA$2.87 (up from CA$2.71 in FY 2024). Revenue: CA$2.58b (up 4.2% from FY 2024). Net income: CA$137.3m (up 6.1% from FY 2024). Profit margin: 5.3% (up from 5.2% in FY 2024). The increase in margin was driven by higher revenue. Like-for-like sales growth: 4.4% vs FY 2024 Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Declared Dividend • Dec 13
Third quarter dividend of CA$0.40 announced Shareholders will receive a dividend of CA$0.40. Ex-date: 31st December 2024 Payment date: 15th January 2025 Dividend yield will be 3.3%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (85% cash payout ratio). The dividend has increased by an average of 3.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Dec 10
Third quarter 2025 earnings released: EPS: CA$0.74 (vs CA$0.78 in 3Q 2024) Third quarter 2025 results: EPS: CA$0.74 (down from CA$0.78 in 3Q 2024). Revenue: CA$637.5m (up 3.3% from 3Q 2024). Net income: CA$35.4m (down 5.0% from 3Q 2024). Profit margin: 5.5% (down from 6.0% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 2.8% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Dec 10
The North West Company Inc. Declares Quarterly Dividend, Payable on January 15, 2025 The North West Company Inc. has declared a quarterly dividend of $0.40 per share to shareholders of record on December 31, 2024, to be paid on January 15, 2025. Announcement • Nov 26
The North West Company Inc. to Report Q3, 2025 Results on Dec 09, 2024 The North West Company Inc. announced that they will report Q3, 2025 results After-Market on Dec 09, 2024 Recent Insider Transactions Derivative • Oct 15
VP & Chief Transformation Officer exercised options to buy CA$270k worth of stock. On the 7th of October, Leanne Flewitt exercised 15.17k options to receive shares at no cost, then sold around 9.98k of them at CA$52.09 each and kept the remainder. Since March 2024, Leanne's direct individual holding has increased from 8.58k shares to 11.68k. Company insiders have collectively bought CA$2.0m more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Oct 02
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$357k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Upcoming Dividend • Sep 23
Upcoming dividend of CA$0.40 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 15 October 2024. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Canadian dividend payers (5.9%). Higher than average of industry peers (1.2%). Declared Dividend • Sep 08
Second quarter dividend increased to CA$0.40 Dividend of CA$0.40 is 2.6% higher than last year. Ex-date: 27th September 2024 Payment date: 15th October 2024 Dividend yield will be 3.1%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (72% cash payout ratio). The dividend has increased by an average of 3.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Sep 06
Second quarter 2025 earnings released: EPS: CA$0.74 (vs CA$0.77 in 2Q 2024) Second quarter 2025 results: EPS: CA$0.74 (down from CA$0.77 in 2Q 2024). Revenue: CA$646.5m (up 4.6% from 2Q 2024). Net income: CA$35.3m (down 4.0% from 2Q 2024). Profit margin: 5.5% (down from 6.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Price Target Changed • Sep 06
Price target increased by 14% to CA$51.67 Up from CA$45.33, the current price target is an average from 3 analysts. New target price is 5.6% above last closing price of CA$48.92. Stock is up 64% over the past year. The company posted earnings per share of CA$2.71 last year. Announcement • Sep 05
The North West Company Inc. Announces Increase in the Quarterly Dividend, Payable on October 15, 2024 The North West Company Inc. announced that the Board of Directors has declared a quarterly dividend of $0.40, an increase of $0.01 or 2.6% per share, to shareholders of record on September 30, 2024, to be paid on October 15, 2024. Announcement • Aug 27
The North West Company Inc. to Report Q2, 2025 Results on Sep 04, 2024 The North West Company Inc. announced that they will report Q2, 2025 results After-Market on Sep 04, 2024 Recent Insider Transactions Derivative • Jun 20
CEO, President & Director exercised options to buy CA$218k worth of stock. On the 14th of June, Daniel McConnell exercised 10.91k options to receive shares at no cost, then sold around 5.67k of them at CA$42.86 each and kept the remainder. Since December 2023, Daniel has owned 38.09k shares directly. Company insiders have collectively bought CA$1.4m more than they sold, via options and on-market transactions, in the last 12 months. Declared Dividend • Jun 09
First quarter dividend of CA$0.39 announced Shareholders will receive a dividend of CA$0.39. Ex-date: 28th June 2024 Payment date: 15th July 2024 Dividend yield will be 3.6%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 06
First quarter 2025 earnings: Revenues miss analyst expectations First quarter 2025 results: Revenue: CA$617.5m (up 4.0% from 1Q 2024). Net income: CA$25.5m (up 22% from 1Q 2024). Profit margin: 4.1% (up from 3.5% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.4%. Revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Consumer Retailing industry in Canada. Announcement • Jun 06
The North West Company Inc. Announces Quarterly Dividend, Payable on July 15, 2024 The North West Company Inc. has declared a quarterly dividend of $0.39 to shareholders of record on June 28, 2024, to be paid on July 15, 2024. Declared Dividend • Apr 14
Fourth quarter dividend of CA$0.39 announced Shareholders will receive a dividend of CA$0.39. Ex-date: 17th April 2024 Payment date: 29th April 2024 Dividend yield will be 4.0%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (83% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 8.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 11
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: CA$2.71 (up from CA$2.55 in FY 2023). Revenue: CA$2.47b (up 5.1% from FY 2023). Net income: CA$129.4m (up 5.9% from FY 2023). Profit margin: 5.2% (in line with FY 2023). Like-for-like sales growth: 2.9% vs FY 2023 Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Apr 10
The North West Company Inc. Declares Quarterly Dividend, Payable on April 29, 2024 The North West Company Inc. announced that the Board of Directors has declared a dividend of $0.39 per share to be paid on April 29, 2024 to shareholders of record on April 18, 2024. Announcement • Apr 06
The North West Company Inc., Annual General Meeting, Jun 05, 2024 The North West Company Inc., Annual General Meeting, Jun 05, 2024. Announcement • Mar 23
The North West Company Inc. to Report Q4, 2024 Results on Apr 10, 2024 The North West Company Inc. announced that they will report Q4, 2024 results on Apr 10, 2024 Announcement • Feb 14
Frank Coleman to Retire as Director of The North West Company Inc. in June 2024 The North West Company Inc. announced the resignation of Frank Coleman as Director of the company. Mr. Coleman has been a Director of North West since 1999 and was scheduled to retire in June 2024 in connection with the Company’s Board of Directors mandatory retirement policy. Mr. Coleman, who is the President and CEO of the Coleman Group of Companies, cited personal reasons not related to North West, including directing more of his time to his business interests and other commitments, for his resignation at this time. Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. Independent Director Rachel Huckle was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Dec 21
Upcoming dividend of CA$0.39 per share at 4.0% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 15 January 2024. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Canadian dividend payers (6.5%). Higher than average of industry peers (1.3%). Reported Earnings • Dec 07
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: CA$0.78 (up from CA$0.62 in 3Q 2023). Revenue: CA$616.9m (up 5.1% from 3Q 2023). Net income: CA$37.2m (up 26% from 3Q 2023). Profit margin: 6.0% (up from 5.0% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Dec 07
The North West Company Inc. Declares Quarterly Dividend, Payable on January 15, 2024 The North West Company Inc. announced that the board of directors has declared a quarterly dividend of $0.39 to shareholders of record on December 29, 2023, to be paid on January 15, 2024. Recent Insider Transactions • Sep 28
Insider recently sold CA$177k worth of stock On the 25th of September, Walter Pickett sold around 5k shares on-market at roughly CA$35.40 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$378k more than they bought in the last 12 months. Upcoming Dividend • Sep 21
Upcoming dividend of CA$0.39 per share at 4.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 13 October 2023. Payout ratio is a comfortable 60% and the cash payout ratio is 80%. Trailing yield: 4.3%. Lower than top quartile of Canadian dividend payers (6.3%). Higher than average of industry peers (1.3%). Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CA$35.86, the stock trades at a trailing P/E ratio of 14.1x. Average forward P/E is 17x in the Consumer Retailing industry in Canada. Total returns to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$61.54 per share. Reported Earnings • Sep 13
Second quarter 2024 earnings released: EPS: CA$769 (vs CA$0.66 in 2Q 2023) Second quarter 2024 results: EPS: CA$769 (up from CA$0.66 in 2Q 2023). Revenue: CA$618.1m (up 6.8% from 2Q 2023). Net income: CA$36.8m (up 17% from 2Q 2023). Profit margin: 6.0% (up from 5.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Sep 13
The North West Company Inc. Declares Quarterly Dividend, Payable on October 13, 2023 The North West Company Inc. announced that the Board of Directors has declared a quarterly dividend of $0.39, an increase of $0.01 or 2.6% per share, to shareholders of record on September 29, 2023, to be paid on October 13, 2023. New Risk • Jul 04
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: CA$312k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks High level of debt (40% net debt to equity). Dividend is not well covered by cash flows (126% cash payout ratio). Shareholders have been diluted in the past year (33% increase in shares outstanding). Significant insider selling over the past 3 months (CA$312k sold). Upcoming Dividend • Jun 22
Upcoming dividend of CA$0.38 per share at 4.8% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 62% and the cash payout ratio is 96%. Trailing yield: 4.8%. Lower than top quartile of Canadian dividend payers (6.3%). Higher than average of industry peers (1.4%). Announcement • Jun 09
The North West Company Inc. (TSX:NWC) acquired Nickel City Motors. The North West Company Inc. (TSX:NWC) acquired Nickel City Motors on April 17, 2023.
The North West Company Inc. (TSX:NWC) completed the acquisition of Nickel City Motors on April 17, 2023. New Risk • Jun 09
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 40% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (40% net debt to equity). Dividend is not well covered by cash flows (97% cash payout ratio). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Reported Earnings • Jun 09
First quarter 2024 earnings released: EPS: CA$0.44 (vs CA$0.57 in 1Q 2023) First quarter 2024 results: EPS: CA$0.44 (down from CA$0.57 in 1Q 2023). Revenue: CA$593.6m (up 7.5% from 1Q 2023). Net income: CA$20.9m (down 24% from 1Q 2023). Profit margin: 3.5% (down from 5.0% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 8% per year. Announcement • Jun 08
The North West Company Inc. Declares Quarterly Dividend, Payable on July 14, 2023 The Board of Directors of The North West Company Inc. declared a quarterly dividend of $0.38 per share to shareholders of record on June 30, 2023, to be paid on July 14, 2023. Recent Insider Transactions • Apr 24
Independent Director recently sold CA$192k worth of stock On the 18th of April, Annalisa King sold around 5k shares on-market at roughly CA$38.81 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought CA$61k more than they sold in the last 12 months. Reported Earnings • Apr 06
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: CA$2.55 (down from CA$3.21 in FY 2022). Revenue: CA$2.35b (up 4.6% from FY 2022). Net income: CA$122.2m (down 21% from FY 2022). Profit margin: 5.2% (down from 6.9% in FY 2022). The decrease in margin was driven by higher expenses. Like-for-like sales growth: Down 0.8% vs FY 2022 Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 47%. Revenue is forecast to grow 3.1% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Feb 10
Chief Information Officer recently bought CA$57k worth of stock On the 8th of February, Vineet Gupta bought around 2k shares on-market at roughly CA$35.35 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$253k more in shares than they have sold in the last 12 months. Upcoming Dividend • Dec 22
Upcoming dividend of CA$0.38 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 16 January 2023. Payout ratio is a comfortable 58% and the cash payout ratio is 91%. Trailing yield: 4.2%. Lower than top quartile of Canadian dividend payers (6.0%). Higher than average of industry peers (1.3%). Announcement • Dec 09
The North West Company Inc. Provides Earnings Guidance for the Fourth Quarter of Fiscal Year 2023 The North West Company Inc. provided earnings guidance for the fourth quarter of fiscal year 2023. For the quarter, the outlook continues to be uncertain as The company expects inflationary pressures to continue in the short term. Considering all these factors, the company’s net earnings are expected to be lower than last year but above pre-pandemic levels. Reported Earnings • Dec 09
Third quarter 2023 earnings released: EPS: CA$0.62 (vs CA$0.80 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.62 (down from CA$0.80 in 3Q 2022). Revenue: CA$586.7m (up 6.0% from 3Q 2022). Net income: CA$29.5m (down 24% from 3Q 2022). Profit margin: 5.0% (down from 7.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Consumer Retailing industry in Canada. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Dec 08
The North West Company Inc. Declares Quarterly Dividend, Payable on January 16, 2023 The North West Company Inc. announced that the Board of Directors has declared a dividend of $0.38 per share to shareholders of record on December30, 2022, to be paid on January 16, 2023. Buying Opportunity • Dec 05
Now 23% undervalued Over the last 90 days, the stock is up 5.6%. The fair value is estimated to be CA$46.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years. Earnings per share has grown by 22%. Upcoming Dividend • Sep 21
Upcoming dividend of CA$0.38 per share Eligible shareholders must have bought the stock before 28 September 2022. Payment date: 14 October 2022. Payout ratio is a comfortable 54% and the cash payout ratio is 93%. Trailing yield: 4.6%. Lower than top quartile of Canadian dividend payers (5.7%). Higher than average of industry peers (1.1%). Reported Earnings • Sep 09
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: EPS: CA$0.66 (down from CA$0.86 in 2Q 2022). Revenue: CA$578.9m (up 2.4% from 2Q 2022). Net income: CA$31.4m (down 25% from 2Q 2022). Profit margin: 5.4% (down from 7.4% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.5%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, while revenues in the Consumer Retailing industry in Canada are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of CA$0.37 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 15 July 2022. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Canadian dividend payers (5.2%). Higher than average of industry peers (1.2%). Reported Earnings • Jun 10
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: CA$0.57 (down from CA$0.82 in 1Q 2022). Revenue: CA$552.0m (flat on 1Q 2022). Net income: CA$27.4m (down 31% from 1Q 2022). Profit margin: 5.0% (down from 7.2% in 1Q 2022). Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 5.6%. Over the next year, revenue is forecast to grow 1.6%, compared to a 6.4% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Jun 09
The North West Company Inc. Declares Quarterly Dividend Payable on July 15, 2022 The North West Company Inc. announced that the Board of Directors has declared a dividend of $0.37 per share to shareholders of record on June 30, 2022, to be paid on July 15, 2022.