Alimentation Couche-Tard
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Alimentation Couche-Tard Inc. operates and licenses convenience stores. The last earnings update was 66 days ago. More info.
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ATD.B Share Price and Events
7 Day Returns
1 Year Returns
ATD.B Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Alimentation Couche-Tard (ATD.B) | 0.2% | 7.4% | 15.3% | 54.8% | 46% | 187% |
| CA Consumer Retailing | 1.2% | 5.7% | 10.4% | 25.6% | 18.4% | 90.6% |
| CA Market | -1.7% | -3.5% | -0.2% | -2.4% | 10.4% | 3.7% |
1 Year Return vs Industry and Market
- ATD.B outperformed the Consumer Retailing industry which returned 25.6% over the past year.
- ATD.B outperformed the Market in Canada which returned -2.4% over the past year.
Price Volatility
Related Companies
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Alimentation Couche-Tard
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Alimentation Couche-Tard.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 7 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 6.7% |
| Perpetual Growth Rate | 10-Year CA Government Bond Rate | 1.9% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year CA Govt Bond Rate | 1.9% |
| Equity Risk Premium | S&P Global | 6% |
| Consumer Retailing Unlevered Beta | Simply Wall St/ S&P Global | 0.26 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.256 (1 + (1- 26.5%) (21.39%)) |
0.529 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.8 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (0.8 * 5.96%) |
6.72% |
Discounted Cash Flow Calculation for TSX:ATD.B using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Alimentation Couche-Tard is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 6.72%) |
|
|---|---|---|---|
| 2019 | 1,960.53 | Analyst x4 | 1,837.17 |
| 2020 | 1,828.92 | Analyst x4 | 1,606.00 |
| 2021 | 1,869.80 | Analyst x2 | 1,538.58 |
| 2022 | 1,922.00 | Analyst x1 | 1,482.01 |
| 2023 | 2,055.00 | Analyst x1 | 1,484.86 |
| 2024 | 2,707.00 | Analyst x1 | 1,832.89 |
| 2025 | 2,957.20 | Est @ 9.24% | 1,876.30 |
| 2026 | 3,165.80 | Est @ 7.05% | 1,882.26 |
| 2027 | 3,340.61 | Est @ 5.52% | 1,861.21 |
| 2028 | 3,489.25 | Est @ 4.45% | 1,821.70 |
| Present value of next 10 years cash flows | $17,222.97 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $3,489.25 × (1 + 1.95%) ÷ (6.72% – 1.95%) |
$74,605.31 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $74,605.31 ÷ (1 + 6.72%)10 |
$38,950.68 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $17,222.97 + $38,950.68 |
$56,173.65 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $56,173.65 / 564.33 |
$99.54 |
| Calculation | Result | |
|---|---|---|
| Exchange Rate | USD/CAD
(Reporting currency to currency of TSX:ATD.B) |
1.345 |
| Value per Share (CAD) |
= Value per Share in USD x Exchange Rate (USD/CAD)
= $99.54 x 1.345 |
CA$133.92 |
| Value per share (CAD) | From above. | CA$133.92 |
| Current discount | Discount to share price of
CA$84.49
= -1 x (CA$84.49 - CA$133.92) / CA$133.92 |
36.9% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Alimentation Couche-Tard's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Alimentation Couche-Tard's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Alimentation Couche-Tard's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Alimentation Couche-Tard's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-02-03) in USD | $3.43 |
| TSX:ATD.B Share Price ** | TSX (2019-05-24) in CAD | CA$84.49 |
| TSX:ATD.B Share Price converted to USD reporting currency | Exchange rate (CAD/ USD) 0.743 | $62.8 |
| Canada Consumer Retailing Industry PE Ratio | Median Figure of 6 Publicly-Listed Consumer Retailing Companies | 22.1x |
| Canada Market PE Ratio | Median Figure of 544 Publicly-Listed Companies | 14.69x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Alimentation Couche-Tard.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = TSX:ATD.B Share Price ÷ EPS (both in USD) = 62.8 ÷ 3.43 |
18.32x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Alimentation Couche-Tard is good value based on earnings compared to the CA Consumer Retailing industry average.
- Alimentation Couche-Tard is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does
Alimentation Couche-Tard's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 18.32x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts |
-2.4%per year |
| North America Consumer Retailing Industry PEG Ratio | Median Figure of 17 Publicly-Listed Consumer Retailing Companies | 2.17x |
| Canada Market PEG Ratio | Median Figure of 250 Publicly-Listed Companies | 1.14x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 18.32x ÷ -2.4% |
-7.79x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Alimentation Couche-Tard earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Alimentation Couche-Tard's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-02-03) in USD | $15.62 |
| TSX:ATD.B Share Price * | TSX (2019-05-24) in CAD | CA$84.49 |
| TSX:ATD.B Share Price converted to USD reporting currency | Exchange rate (CAD/ USD) 0.743 | $62.8 |
| Canada Consumer Retailing Industry PB Ratio | Median Figure of 12 Publicly-Listed Consumer Retailing Companies | 2.14x |
| Canada Market PB Ratio | Median Figure of 2,405 Publicly-Listed Companies | 1.41x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = TSX:ATD.B Share Price ÷ Book Value per Share (both in USD) = 62.8 ÷ 15.62 |
4.02x |
* Primary Listing of Alimentation Couche-Tard.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Alimentation Couche-Tard is overvalued based on assets compared to the CA Consumer Retailing industry average.
Value checks
We assess Alimentation Couche-Tard's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Consumer Retailing industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Consumer Retailing industry average (and greater than 0)? (1 check) Alimentation Couche-Tard has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Alimentation Couche-Tard's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.9%.
Growth vs Market Checks
- Alimentation Couche-Tard's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
- Alimentation Couche-Tard's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| TSX:ATD.B Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts | -2.4% |
| TSX:ATD.B Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts | 2% |
| Canada Consumer Retailing Industry Earnings Growth Rate | Market Cap Weighted Average | 16.9% |
| Canada Consumer Retailing Industry Revenue Growth Rate | Market Cap Weighted Average | 2.6% |
| Canada Market Earnings Growth Rate | Market Cap Weighted Average | 14.3% |
| Canada Market Revenue Growth Rate | Market Cap Weighted Average | 6% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 7 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2024-04-30 | 3,493 | |||
| 2023-04-30 | 3,332 | |||
| 2022-04-30 | 3,165 | |||
| 2021-04-30 | 3,022 | |||
| 2020-04-30 | 60,665 | 2,786 | 1,853 | 7 |
| 2019-04-30 | 59,365 | 2,872 | 1,876 | 7 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-02-03 | 59,619 | 3,095 | 1,935 |
| 2018-10-14 | 58,896 | 2,553 | 1,805 |
| 2018-07-22 | 56,334 | 2,356 | 1,765 |
| 2018-04-29 | 51,394 | 2,163 | 1,674 |
| 2018-02-04 | 47,402 | 2,038 | 1,557 |
| 2017-10-15 | 43,026 | 1,996 | 1,362 |
| 2017-07-23 | 39,331 | 2,034 | 1,251 |
| 2017-04-30 | 37,905 | 1,926 | 1,209 |
| 2017-01-29 | 35,679 | 1,874 | 1,135 |
| 2016-10-09 | 33,594 | 1,799 | 1,122 |
| 2016-07-17 | 33,586 | 1,901 | 1,216 |
| 2016-04-24 | 34,145 | 1,888 | 1,191 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 7 Analyst Estimates (S&P Global) | See Below |
All data from Alimentation Couche-Tard Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2024-04-30 | ||||
| 2023-04-30 | ||||
| 2022-04-30 | ||||
| 2021-04-30 | ||||
| 2020-04-30 | 3.29 | 3.38 | 3.20 | 2.00 |
| 2019-04-30 | 3.32 | 3.42 | 3.22 | 2.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-02-03 | 3.43 |
| 2018-10-14 | 3.20 |
| 2018-07-22 | 3.12 |
| 2018-04-29 | 2.96 |
| 2018-02-04 | 2.75 |
| 2017-10-15 | 2.40 |
| 2017-07-23 | 2.20 |
| 2017-04-30 | 2.13 |
| 2017-01-29 | 2.00 |
| 2016-10-09 | 1.98 |
| 2016-07-17 | 2.14 |
| 2016-04-24 | 2.10 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Unable to establish if Alimentation Couche-Tard will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Alimentation Couche-Tard's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Alimentation Couche-Tard has a total score of 0/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Alimentation Couche-Tard performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Alimentation Couche-Tard's year on year earnings growth rate has been positive over the past 5 years.
- Alimentation Couche-Tard's 1-year earnings growth exceeds its 5-year average (24.4% vs 17.3%)
- Alimentation Couche-Tard's earnings growth has not exceeded the CA Consumer Retailing industry average in the past year (24.4% vs 24.4%).
Earnings and Revenue History
All data from Alimentation Couche-Tard Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-02-03 | 59,619.10 | 1,934.80 | 5,609.70 | |
| 2018-10-14 | 58,895.90 | 1,805.10 | 5,496.70 | |
| 2018-07-22 | 56,333.70 | 1,764.50 | 5,396.70 | |
| 2018-04-29 | 51,394.40 | 1,673.60 | 5,112.70 | |
| 2018-02-04 | 47,402.20 | 1,557.20 | 4,806.80 | |
| 2017-10-15 | 43,026.20 | 1,361.80 | 4,467.00 | |
| 2017-07-23 | 39,331.10 | 1,250.80 | 4,194.80 | |
| 2017-04-30 | 37,904.50 | 1,208.90 | 4,081.60 | |
| 2017-01-29 | 35,679.00 | 1,135.20 | 4,015.70 | |
| 2016-10-09 | 33,594.30 | 1,122.20 | 3,893.30 | |
| 2016-07-17 | 33,585.60 | 1,216.40 | 3,848.00 | |
| 2016-04-24 | 34,144.60 | 1,191.20 | 3,812.40 | |
| 2016-01-31 | 34,033.00 | 1,113.20 | 3,712.30 | |
| 2015-10-11 | 33,809.70 | 1,087.20 | 3,571.80 | |
| 2015-07-19 | 34,319.20 | 957.70 | 3,470.50 | |
| 2015-04-26 | 34,529.90 | 929.30 | 3,379.50 | |
| 2015-02-01 | 36,202.20 | 948.20 | 3,367.90 | |
| 2014-10-12 | 38,187.60 | 882.20 | 3,423.20 | |
| 2014-07-20 | 38,251.20 | 825.50 | 3,429.50 | |
| 2014-04-27 | 37,962.10 | 811.20 | 3,422.50 | |
| 2014-02-02 | 37,780.30 | 812.80 | 3,415.60 | |
| 2013-10-13 | 38,154.20 | 773.00 | 3,462.40 | |
| 2013-07-21 | 38,432.00 | 724.80 | 3,469.60 | |
| 2013-04-28 | 35,543.40 | 572.80 | 3,238.30 | |
| 2013-02-03 | 32,809.10 | 544.20 | 2,958.30 | |
| 2012-10-14 | 27,947.80 | 488.80 | 2,515.60 | |
| 2012-07-22 | 23,814.00 | 421.00 | 2,218.70 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Alimentation Couche-Tard has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
- Alimentation Couche-Tard used its assets more efficiently than the CA Consumer Retailing industry average last year based on Return on Assets.
- Alimentation Couche-Tard's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Alimentation Couche-Tard's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Consumer Retailing industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Alimentation Couche-Tard has a total score of 4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Alimentation Couche-Tard's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Alimentation Couche-Tard's finances.
The net worth of a company is the difference between its assets and liabilities.
- Alimentation Couche-Tard's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Alimentation Couche-Tard's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Alimentation Couche-Tard Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-02-03 | 9,088.70 | 7,584.30 | 690.20 |
| 2018-10-14 | 8,569.60 | 8,098.80 | 621.10 |
| 2018-07-22 | 8,138.40 | 8,600.50 | 739.40 |
| 2018-04-29 | 7,890.40 | 9,060.40 | 668.00 |
| 2018-02-04 | 7,752.40 | 9,487.20 | 546.00 |
| 2017-10-15 | 6,953.20 | 7,852.60 | 994.80 |
| 2017-07-23 | 6,673.80 | 8,150.40 | 1,034.00 |
| 2017-04-30 | 6,009.60 | 3,666.60 | 645.20 |
| 2017-01-29 | 5,810.30 | 3,941.20 | 614.10 |
| 2016-10-09 | 5,586.10 | 3,853.90 | 830.60 |
| 2016-07-17 | 5,274.70 | 3,116.60 | 620.90 |
| 2016-04-24 | 5,041.10 | 3,062.10 | 599.40 |
| 2016-01-31 | 4,733.50 | 3,108.80 | 972.10 |
| 2015-10-11 | 4,692.70 | 2,448.30 | 473.10 |
| 2015-07-19 | 4,206.00 | 3,202.70 | 818.90 |
| 2015-04-26 | 3,903.00 | 3,229.90 | 575.80 |
| 2015-02-01 | 3,972.10 | 1,870.70 | 478.00 |
| 2014-10-12 | 4,136.60 | 2,245.80 | 594.90 |
| 2014-07-20 | 4,121.30 | 2,520.90 | 599.20 |
| 2014-04-27 | 3,976.60 | 2,680.30 | 511.10 |
| 2014-02-02 | 3,739.60 | 2,864.00 | 549.80 |
| 2013-10-13 | 3,677.70 | 3,192.40 | 772.80 |
| 2013-07-21 | 3,365.90 | 3,418.50 | 621.70 |
| 2013-04-28 | 3,216.70 | 3,625.50 | 658.30 |
| 2013-02-03 | 3,218.90 | 3,661.90 | 400.60 |
| 2012-10-14 | 2,920.90 | 3,810.40 | 560.20 |
| 2012-07-22 | 2,288.50 | 4,231.60 | 520.90 |
- Alimentation Couche-Tard's level of debt (83.4%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (76.4% vs 83.4% today).
- Debt is well covered by operating cash flow (40.8%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 8.5x coverage).
Financial health checks
We assess Alimentation Couche-Tard's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Alimentation Couche-Tard has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is Alimentation Couche-Tard's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
CA$2,000 of
Alimentation Couche-Tard
shares you are expected to receive
CA$12
in your first year as a dividend.
Dividend Amount
- Alimentation Couche-Tard's pays a lower dividend yield than the bottom 25% of dividend payers in Canada (2.05%).
- Alimentation Couche-Tard's dividend is below the markets top 25% of dividend payers in Canada (5.75%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 7 Analyst Estimates (S&P Global) | See Below |
| Canada Consumer Retailing Industry Average Dividend Yield | Market Cap Weighted Average of 6 Stocks | 1.3% |
| Canada Market Average Dividend Yield | Market Cap Weighted Average of 331 Stocks | 3.6% |
| Canada Minimum Threshold Dividend Yield | 10th Percentile | 1.2% |
| Canada Bottom 25% Dividend Yield | 25th Percentile | 2.1% |
| Canada Top 25% Dividend Yield | 75th Percentile | 5.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2024-04-30 | ||
| 2023-04-30 | ||
| 2022-04-30 | ||
| 2021-04-30 | 0.50 | 1.00 |
| 2020-04-30 | 0.44 | 2.00 |
| 2019-04-30 | 0.39 | 2.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-19 | 0.370 | 0.630 |
| 2018-11-27 | 0.293 | 0.564 |
| 2018-09-05 | 0.301 | 0.624 |
| 2018-07-09 | 0.301 | 0.654 |
| 2018-03-20 | 0.270 | 0.653 |
| 2017-11-28 | 0.275 | 0.559 |
| 2017-09-06 | 0.279 | 0.591 |
| 2017-07-12 | 0.282 | 0.597 |
| 2017-03-14 | 0.262 | 0.585 |
| 2016-11-22 | 0.265 | 0.586 |
| 2016-08-30 | 0.228 | 0.474 |
| 2016-07-12 | 0.234 | 0.509 |
| 2016-03-16 | 0.202 | 0.484 |
| 2015-11-24 | 0.185 | 0.448 |
| 2015-09-01 | 0.164 | 0.367 |
| 2015-07-15 | 0.166 | 0.381 |
| 2015-03-17 | 0.139 | 0.360 |
| 2014-11-25 | 0.141 | 0.396 |
| 2014-09-10 | 0.157 | 0.489 |
| 2014-09-03 | 0.163 | 0.495 |
| 2014-07-08 | 0.146 | 0.528 |
| 2014-03-18 | 0.119 | 0.446 |
| 2013-11-26 | 0.119 | 0.491 |
| 2013-08-30 | 0.111 | 0.518 |
| 2013-07-15 | 0.095 | 0.492 |
| 2013-03-19 | 0.095 | 0.510 |
| 2012-11-27 | 0.097 | 0.593 |
| 2012-09-05 | 0.099 | 0.630 |
| 2012-07-10 | 0.098 | 0.615 |
| 2012-03-13 | 0.096 | 0.771 |
| 2011-11-22 | 0.095 | 0.991 |
| 2011-08-30 | 0.078 | 0.845 |
| 2011-07-12 | 0.084 | 0.854 |
| 2011-03-10 | 0.067 | 0.766 |
| 2010-11-23 | 0.065 | 0.759 |
| 2010-08-24 | 0.050 | 0.678 |
| 2010-07-13 | 0.050 | 0.755 |
| 2010-03-09 | 0.049 | 0.854 |
| 2009-11-24 | 0.043 | 0.683 |
| 2009-08-25 | 0.042 | 0.734 |
| 2009-07-24 | 0.042 | 0.800 |
| 2009-07-16 | 0.042 | 0.849 |
| 2009-07-15 | 0.042 | 0.872 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Alimentation Couche-Tard is not paying a notable dividend for Canada, therefore no need to check if the payments are stable.
- Alimentation Couche-Tard is not paying a notable dividend for Canada, therefore no need to check if the payments are increasing.
Income/ dividend checks
We assess Alimentation Couche-Tard's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Alimentation Couche-Tard afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Alimentation Couche-Tard has a total score of 0/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | $8,768,891 |
| TENURE AS CEO | 4.7 years |
CEO Bio
Mr. Brian P. Hannasch has been the Chief Executive Officer and President of Alimentation Couche-Tard Inc. since September 24, 2014. Mr. Hannasch served as the Chief Operating Officer of Alimentation Couche-Tard Inc. from May 2010 to September 24, 2014. He joined the Alimentation Couche-Tard Inc. in 2001 and during his 17 years with Alimentation Couche-Tard. He served as Senior Vice President of US Operations at Alimentation Couche-Tard Inc. from May 2008 to 2010. He was responsible for the business units of the Midwest US, Arizona, West Coast US and Western Canada. He served as Senior Vice President of Western North America at Alimentation Couche-tard Inc. from December 2004 to 2008 and its Vice President of Integration from 2003 to December 2004. From 2000 to 2001, Mr. Hannasch served as Vice-President of Operations for Bigfoot Food Stores LLC. He served as Vice President of Operations, U.S. Midwest at Alimentation Couche-Tard Inc. from 2001 to 2004, where he was responsible for all aspects of U.S. operations. From 1989 to 2000, he was employed by BP Amoco in various positions of increasing responsibility. He served as Vice-President of Marketing for the U.S. Midwest Business Unit of BP Amoco. He serves as Chairman of the Board for Statoil Fuel & Retail ASA and has been its Director since July 2, 2012. He has been a Director of Alimentation Couche-Tard Inc since 2014. He has been a Member of the board of directors of the Association for Convenience & Fuel Retailing (NACS) since 2016. Mr. Hannasch was named CEO of the year by The Globe and Mail in 2016. Mr. Hannasch holds a B.A. in Finance from Iowa State University and an MBA in Marketing and Finance from the University of Chicago.
CEO Compensation
- Brian's compensation has been consistent with company performance over the past year, both up more than 20%.
- Brian's remuneration is about average for companies of similar size in Canada.
Management Team Tenure
Average tenure and age of the Alimentation Couche-Tard management team in years:
- The tenure for the Alimentation Couche-Tard management team is about average.
Management Team
Alain Bouchard
Co-Founder & Executive Chairman
$5M
69
Brian Hannasch
President
$9M
4.7 yrs
Jacques D'Amours
Co-Founder & Corporate Director
$102K
39.3 yrs
Richard Fortin
Co-Founder & Corporate Director
$184K
69
Réal Plourde
Co-Founder & Corporate Director
$179K
Claude Tessier
Chief Financial Officer
$2M
54
3.3 yrs
Deb Lefevre
Chief Information Officer
$2M
2.1 yrs
Kevin Lewis
Chief Marketing Officer
$2M
1.8 yrs
Jean Ayas
Manager of Investor Relations
François Ramsay
VP, General Counsel & Secretary
Board of Directors Tenure
Average tenure and age of the Alimentation Couche-Tard board of directors in years:
- The tenure for the Alimentation Couche-Tard board of directors is about average.
Board of Directors
Alain Bouchard
Co-Founder & Executive Chairman
$5M
69
4.7 yrs
Brian Hannasch
President
$9M
5.3 yrs
Jacques D'Amours
Co-Founder & Corporate Director
$102K
31.3 yrs
Richard Fortin
Co-Founder & Corporate Director
$184K
69
31.3 yrs
Réal Plourde
Co-Founder & Corporate Director
$179K
31.3 yrs
Mélanie Kau
Lead Director
$171K
1.7 yrs
Eric Boyko
Director
$58K
48
1.7 yrs
Jean Élie
Independent Corporate Director
$149K
74
20.3 yrs
Nathalie Bourque
Independent Corporate Director
$117K
7.2 yrs
Dan Rabinowicz
Independent Corporate Director
$113K
5.7 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (CA$) | Value (CA$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 27. Dec 18 | Buy | Eric Boyko | Individual | 27. Dec 18 | 27. Dec 18 | 2,000 | CA$66.06 | CA$132,120 | ||
| 13. Dec 18 | Buy | Suzanne Poirier | Individual | 13. Dec 18 | 13. Dec 18 | 1,500 | CA$68.21 | CA$102,315 | ||
| 02. Nov 18 | Sell | Jean Élie | Individual | 02. Nov 18 | 02. Nov 18 | -2,250 | CA$63.02 | CA$-141,802 | ||
| 18. Oct 18 | Buy | Ina Strand | Individual | 17. Oct 18 | 17. Oct 18 | 1,200 | CA$61.91 | CA$74,291 | ||
| 27. Sep 18 | Sell | Richard Fortin | Individual | 26. Sep 18 | 27. Sep 18 | -151,000 | CA$65.88 | CA$-9,914,807 | ||
| 19. Sep 18 | Sell | Richard Fortin | Individual | 18. Sep 18 | 18. Sep 18 | -25,000 | CA$66.39 | CA$-1,659,750 | ||
| 20. Sep 18 | Sell | Richard Fortin | Individual | 19. Sep 18 | 19. Sep 18 | -24,000 | CA$66.34 | CA$-1,592,131 | ||
| 18. Sep 18 | Sell | Richard Fortin | Individual | 17. Sep 18 | 17. Sep 18 | -15,000 | CA$66.13 | CA$-991,950 | ||
| 08. Aug 18 | Sell | Réal Plourde | Individual | 08. Aug 18 | 08. Aug 18 | -35,900 | CA$60.31 | CA$-2,165,129 | ||
| 07. Aug 18 | Sell | Réal Plourde | Individual | 07. Aug 18 | 07. Aug 18 | -49,100 | CA$60.21 | CA$-2,956,311 | ||
| 06. Aug 18 | Sell | Réal Plourde | Individual | 03. Aug 18 | 03. Aug 18 | -11,000 | CA$60.05 | CA$-660,550 | ||
| 31. Jul 18 | Sell | Réal Plourde | Individual | 30. Jul 18 | 30. Jul 18 | -1,000 | CA$60.10 | CA$-60,100 | ||
| 30. Jul 18 | Sell | Fondation Ariane Riou et Réal Plourde, Endowment Arm | Company | 27. Jul 18 | 27. Jul 18 | -10,000 | CA$60.09 | CA$-600,900 | ||
| 30. Jul 18 | Sell | Réal Plourde | Individual | 27. Jul 18 | 27. Jul 18 | -53,000 | CA$60.21 | CA$-3,191,130 | ||
| 16. Jul 18 | Buy | Claude Tessier | Individual | 13. Jul 18 | 13. Jul 18 | 2,800 | CA$61.95 | CA$173,460 | ||
| 12. Jul 18 | Buy | Eric Boyko | Individual | 12. Jul 18 | 12. Jul 18 | 2,000 | CA$60.93 | CA$121,860 | ||
Management checks
We assess Alimentation Couche-Tard's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Alimentation Couche-Tard has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Are Investors Undervaluing Alimentation Couche-Tard Inc. (TSE:ATD.B) By 36%?
(TSE:ATD.B) as an investment opportunity by taking the foreast future cash flows of the company and discounting them back to today's value. … Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $1.96k $1.83k $1.87k $1.92k $2.06k $2.71k $2.96k $3.17k $3.34k $3.49k Growth Rate Estimate Source Analyst x4 Analyst x4 Analyst x2 Analyst x1 Analyst x1 Analyst x1 Est @ 9.24% Est @ 7.05% Est @ 5.52% Est @ 4.45% Present Value ($, Millions) Discounted @ 6.72% $1.84k $1.61k $1.54k $1.48k $1.48k $1.83k $1.88k $1.88k $1.86k $1.82k Present Value of 10-year Cash Flow (PVCF)= $17.22b "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 6.7%.
Simply Wall St - – Full articleShould You Be Adding Alimentation Couche-Tard (TSE:ATD.B) To Your Watchlist Today?
If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Alimentation Couche-Tard (TSE:ATD.B). … View our latest analysis for Alimentation Couche-Tard How Quickly Is Alimentation Couche-Tard Increasing Earnings Per Share? … You can't deny that Alimentation Couche-Tard has grown its earnings per share at a very impressive rate.
Simply Wall St - – Full articleWhy Alimentation Couche-Tard Inc.'s (TSE:ATD.B) CEO Pay Matters To You
Brian Hannasch has been the CEO of Alimentation Couche-Tard Inc. … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at other big companies. … How Does Brian Hannasch's Compensation Compare With Similar Sized Companies?
Simply Wall St - – Full articleIs Alimentation Couche-Tard Inc.'s (TSE:ATD.B) Balance Sheet Strong Enough To Weather A Storm?
Investors seeking to preserve capital in a volatile environment might consider large-cap stocks such as Alimentation Couche-Tard Inc. … Let’s take a look at Alimentation Couche-Tard’s leverage and assess its financial strength to get an idea of their ability to fund strategic acquisitions and grow through cyclical pressures. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis
Simply Wall St - – Full articleAlimentation Couche-Tard Inc. (TSE:ATD.B) Is Employing Capital Very Effectively
Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.
Simply Wall St - – Full articleHave Insiders Been Selling Alimentation Couche-Tard Inc. (TSE:ATD.B) Shares?
Alimentation Couche-Tard Insider Transactions Over The Last Year. … We generally consider it a negative if insiders have been selling on market, especially if they did so below the current price. … In total, Alimentation Couche-Tard insiders sold more than they bought over the last year.
Simply Wall St - – Full articleDid You Miss Alimentation Couche-Tard's (TSE:ATD.B) Impressive 141% Share Price Gain?
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … During five years of share price growth, Alimentation Couche-Tard achieved compound earnings per share (EPS) growth of 19% per year.
Simply Wall St - – Full articleWhy We’re Not Impressed By Alimentation Couche-Tard Inc.’s (TSE:ATD.B) 12% ROCE
In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.
Simply Wall St - – Full articleBoasting A 22% Return On Equity, Is Alimentation Couche-Tard Inc (TSE:ATD.B) A Top Quality Stock?
Our data shows Alimentation Couche-Tard has a return on equity of 22% for the last year. … One way to conceptualize this, is that for each CA$1 of shareholders' equity it has, the company made CA$0.22 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleEstimating The Fair Value Of Alimentation Couche-Tard Inc (TSE:ATD.B)
Does the share price for Alimentation Couche-Tard Inc (TSE:ATD.B) reflect it's really worth? … Today, I will calculate the stock's intrinsic value. … by taking the foreast future cash flows of the company and discounting them back to today's value.
Simply Wall St - – Full articleCompany Info
Description
Alimentation Couche-Tard Inc. operates and licenses convenience stores. Its convenience stores sell tobacco products, grocery items, beverages, and fresh food offerings; road transportation fuel; and stationary energy, marine fuel, aviation fuel, and chemicals. The company operates its convenience store and road transportation fuel retailing chain under various banners, including Circle K, Couche-Tard, Holiday, Ingo, Mac’s, Re.Store, and Topaz. It is also involved in the sale of lottery tickets, calling cards, gift cards, postage stamps, and bus tickets; issuance of money orders; and provision of automatic teller machines, cashing checks, and car wash services. As at April 30, 2018, it operated and licensed 12,740 convenience stores, which include 9,718 company-operated stores in North America, Ireland, Scandinavia, Poland, the Baltics, and Russia, as well as 2,000 stores, which are operated under the Circle K banner in China, Costa Rica, Egypt, Guam, Honduras, Hong Kong, Indonesia, Macau, Malaysia, Mexico, the Philippines, Saudi Arabia, the United Arab Emirates, and Vietnam. The company was formerly known as Actidev Inc. and changed its name to Alimentation Couche-Tard Inc. in December 1994. Alimentation Couche-Tard Inc. was founded in 1980 and is headquartered in Laval, Canada.
Details
| Name: | Alimentation Couche-Tard Inc. |
| ATD.B | |
| Exchange: | TSX |
| Founded: | 1980 |
| CA$47,716,118,643 | |
| 564,334,053 | |
| Website: | http://corpo.couche-tard.com |
| Address: |
Alimentation Couche-Tard Inc. 4204 Industriel Boulevard, Laval, Quebec, H7L 0E3, Canada |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| TSX | ATD.B | Class B Subordinate Voting Shares | The Toronto Stock Exchange | CA | CAD | 22. Jun 1995 | |
| OTCPK | ANCU.F | Class B Subordinate Voting Shares | Pink Sheets LLC | US | USD | 22. Jun 1995 | |
| DB | CJA | Class B Subordinate Voting Shares | Deutsche Boerse AG | DE | EUR | 22. Jun 1995 | |
| TSX | ATD.A | Class A Multiple Voting Shares | The Toronto Stock Exchange | CA | CAD | 06. Nov 1990 | |
| OTCPK | ANCT.F | Class A Multiple Voting Shares | Pink Sheets LLC | US | USD | 06. Nov 1990 |
Number of employees
Current staff
Industry
| Food Retail | |
| Consumer Retailing |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/24 23:32 |
| End of day share price update: | 2019/05/24 00:00 |
| Last estimates confirmation: | 2019/05/17 |
| Last earnings filing: | 2019/03/19 |
| Last earnings reported: | 2019/02/03 |
| Last annual earnings reported: | 2018/04/29 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
