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Alaris Royalty

TSX:AD
Snowflake Description

Proven track record with adequate balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AD
TSX
CA$700M
Market Cap
  1. Home
  2. CA
  3. Diversified Financials
Company description

Alaris Royalty Corp. is a private equity firm specializing in management buyouts, growth capital, lower & middle market, later stage, industry consolidation, growth capital, and mature investments. The last earnings update was 101 days ago. More info.


Add to Portfolio Compare Print
  • Alaris Royalty is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
AD Share Price and Events
7 Day Returns
0.6%
TSX:AD
0.9%
CA Capital Markets
-0.4%
CA Market
1 Year Returns
-0.5%
TSX:AD
-10.7%
CA Capital Markets
-0.5%
CA Market
AD Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Alaris Royalty (AD) 0.6% 5.5% 9.6% -0.5% -22.3% -32.5%
CA Capital Markets 0.9% 8% 0.6% -10.7% 22.4% -18.7%
CA Market -0.4% 4.1% 2.5% -0.5% 22.7% 4.7%
1 Year Return vs Industry and Market
  • AD outperformed the Capital Markets industry which returned -10.7% over the past year.
Price Volatility
AD
Industry
5yr Volatility vs Market

Value

 Is Alaris Royalty undervalued based on future cash flows and its price relative to the stock market?

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 Alaris Royalty 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Alaris Royalty.

TSX:AD Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= CA$17.22 * 8.5%
CA$1.47
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. CA$17.22
Discount Rate (Cost of Equity) See below 12%
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.

Calculation of Discount Rate/ Cost of Equity for TSX:AD
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 8.1%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 1.08
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.078 (1 + (1- 26.5%) (21.04%))
1.245
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.24
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.245 * 8.05%)
11.97%

Discounted Cash Flow Calculation for TSX:AD using Excess Returns Model Model

The calculations below outline how an intrinsic value for Alaris Royalty is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

TSX:AD Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.5% – 11.97%) * CA$17.22)
CA$-0.59
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CA$-0.59 / (11.97% - 1.95%)
CA$-5.92
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CA$17.22 + CA$-5.92
CA$11.3
TSX:AD Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$11.30
Current discount Discount to share price of CA$19.19
= -1 x (CA$19.19 - CA$11.30) / CA$11.30
-69.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Alaris Royalty is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Alaris Royalty's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Alaris Royalty's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:AD PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in CAD CA$1.49
TSX:AD Share Price ** TSX (2019-02-13) in CAD CA$19.19
Canada Capital Markets Industry PE Ratio Median Figure of 18 Publicly-Listed Capital Markets Companies 14.41x
Canada Market PE Ratio Median Figure of 559 Publicly-Listed Companies 14.43x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Alaris Royalty.

TSX:AD PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:AD Share Price ÷ EPS (both in CAD)

= 19.19 ÷ 1.49

12.91x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Alaris Royalty is good value based on earnings compared to the CA Capital Markets industry average.
  • Alaris Royalty is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does Alaris Royalty's expected growth come at a high price?
Raw Data
TSX:AD PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.91x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
10.5%per year
North America Capital Markets Industry PEG Ratio Median Figure of 37 Publicly-Listed Capital Markets Companies 2.15x
Canada Market PEG Ratio Median Figure of 262 Publicly-Listed Companies 0.96x

*Line of best fit is calculated by linear regression .

TSX:AD PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.91x ÷ 10.5%

1.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Alaris Royalty is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Alaris Royalty's assets?
Raw Data
TSX:AD PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in CAD CA$16.79
TSX:AD Share Price * TSX (2019-02-13) in CAD CA$19.19
Canada Capital Markets Industry PB Ratio Median Figure of 105 Publicly-Listed Capital Markets Companies 1.48x
Canada Market PB Ratio Median Figure of 2,328 Publicly-Listed Companies 1.52x
TSX:AD PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:AD Share Price ÷ Book Value per Share (both in CAD)

= 19.19 ÷ 16.79

1.14x

* Primary Listing of Alaris Royalty.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Alaris Royalty is good value based on assets compared to the CA Capital Markets industry average.
X
Value checks
We assess Alaris Royalty's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Alaris Royalty has a total score of 3/6, 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

 How is Alaris Royalty expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

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!
Annual Growth Rate
10.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Alaris Royalty expected to grow at an attractive rate?
  • Alaris Royalty's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Alaris Royalty's earnings growth is positive but not above the Canada market average.
  • Alaris Royalty's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:AD Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:AD Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 10.5%
TSX:AD Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 5.1%
Canada Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 4%
Canada Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 1.1%
Canada Market Earnings Growth Rate Market Cap Weighted Average 16.8%
Canada Market Revenue Growth Rate Market Cap Weighted Average 7%

*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
Raw Data
TSX:AD Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:AD Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 123 74 67 3
2019-12-31 115 76 63 7
2018-12-31 110 77 55 7
TSX:AD Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2018-09-30 116 76 54
2018-06-30 132 81 10
2018-03-31 124 74 -3
2017-12-31 116 67 12
2017-09-30 121 83 22
2017-06-30 96 77 61
2017-03-31 98 74 58
2016-12-31 120 73 67
2016-09-30 116 54 65
2016-06-30 114 59 55
2016-03-31 107 58 57
2015-12-31 86 56 58

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Alaris Royalty's earnings are expected to grow by 10.5% yearly, however this is not considered high growth (20% yearly).
  • Alaris Royalty's revenue is expected to grow by 5.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:AD Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Alaris Royalty Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:AD Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 1.78 1.87 1.67 3.00
2019-12-31 1.69 1.74 1.62 4.00
2018-12-31 1.50 1.56 1.45 4.00
TSX:AD Past Financials Data
Date (Data in CAD Millions) EPS *
2018-09-30 1.49
2018-06-30 0.26
2018-03-31 -0.09
2017-12-31 0.33
2017-09-30 0.61
2017-06-30 1.68
2017-03-31 1.58
2016-12-31 1.83
2016-09-30 1.80
2016-06-30 1.53
2016-03-31 1.63
2015-12-31 1.70

*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.
  • Alaris Royalty is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Alaris Royalty's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Alaris Royalty has a total score of 1/6, 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 Alaris Royalty 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
Below we compare Alaris Royalty's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Alaris Royalty's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Alaris Royalty's 1-year earnings growth exceeds its 5-year average (145.2% vs -4.6%)
  • Alaris Royalty's earnings growth has exceeded the CA Capital Markets industry average in the past year (145.2% vs 30.6%).
Earnings and Revenue History
Alaris Royalty's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Alaris Royalty Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:AD Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 115.70 54.23 11.83
2018-06-30 132.27 9.64 49.08
2018-03-31 123.68 -3.11 48.98
2017-12-31 115.65 11.88 22.22
2017-09-30 121.37 22.12 10.98
2017-06-30 95.90 61.17 11.47
2017-03-31 98.06 57.56 12.20
2016-12-31 120.31 66.55 12.88
2016-09-30 115.94 65.46 13.23
2016-06-30 114.21 54.99 12.58
2016-03-31 106.96 56.90 11.97
2015-12-31 85.64 57.86 11.47
2015-09-30 80.97 50.90 11.82
2015-06-30 75.91 59.10 12.48
2015-03-31 74.46 58.91 12.98
2014-12-31 68.45 49.05 11.93
2014-09-30 49.99 32.59 11.14
2014-06-30 46.62 26.19 10.65
2014-03-31 55.08 35.08 9.66
2013-12-31 50.25 29.82 9.35
2013-09-30 59.43 37.62 8.55
2013-06-30 53.49 34.24 7.72
2013-03-31 36.14 20.77 6.48
2012-12-31 32.11 18.04 6.00
2012-09-30 28.88 19.47 5.55
2012-06-30 24.96 17.21 5.28
2012-03-31 46.68 35.74 5.22

*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.
  • Alaris Royalty has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Alaris Royalty used its assets more efficiently than the CA Capital Markets industry average last year based on Return on Assets.
  • Alaris Royalty has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Alaris Royalty's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Alaris Royalty 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 Alaris Royalty'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 Alaris Royalty's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Alaris Royalty is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Alaris Royalty's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Alaris Royalty's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.2x 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.
Raw Data

All data from Alaris Royalty Company Filings, last reported 4 months ago.

TSX:AD Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 612.91 147.34 16.09
2018-06-30 614.52 82.10 27.62
2018-03-31 594.66 150.85 17.54
2017-12-31 604.55 173.46 35.48
2017-09-30 600.25 115.08 12.13
2017-06-30 644.94 113.96 15.18
2017-03-31 650.19 98.62 19.54
2016-12-31 654.70 99.38 29.49
2016-09-30 644.88 140.47 67.82
2016-06-30 649.67 124.78 11.02
2016-03-31 656.59 115.37 55.57
2015-12-31 677.05 77.45 20.99
2015-09-30 661.68 41.70 14.59
2015-06-30 543.91 144.20 20.54
2015-03-31 545.98 0.00 23.68
2014-12-31 529.68 35.50 13.48
2014-09-30 522.12 13.50 10.85
2014-06-30 514.86 0.00 11.65
2014-03-31 433.83 50.50 8.38
2013-12-31 429.76 44.50 9.00
2013-09-30 436.61 0.00 5.68
2013-06-30 336.68 96.00 5.45
2013-03-31 337.82 14.00 6.01
2012-12-31 278.75 50.00 3.64
2012-09-30 279.75 2.50 4.86
2012-06-30 280.86 0.50 4.89
2012-03-31 234.99 4.50 4.06
  • Alaris Royalty's level of debt (24%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.1% vs 24% today).
  • Debt is well covered by operating cash flow (51.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 13.6x coverage).
X
Financial health checks
We assess Alaris Royalty's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Alaris Royalty has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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 Alaris Royalty'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
Dividend payments
8.6%
Current annual income from Alaris Royalty dividends. Estimated to be 8.6% next year.
If you bought CA$2,000 of Alaris Royalty shares you are expected to receive CA$172 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Alaris Royalty's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.11%).
  • Alaris Royalty's dividend is above the markets top 25% of dividend payers in Canada (5.93%).
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.
Raw Data
TSX:AD Annualized Past and Future Dividends
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 Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 5%
Canada Market Average Dividend Yield Market Cap Weighted Average of 329 Stocks 3.6%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:AD Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 1.65 2.00
2019-12-31 1.65 6.00
2018-12-31 1.62 6.00
TSX:AD Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-01-16 1.650 8.756
2018-12-19 1.650 9.601
2018-11-19 1.650 9.118
2018-10-17 1.620 8.636
2018-09-19 1.620 8.041
2018-08-21 1.620 8.426
2018-07-17 1.620 9.037
2018-06-19 1.620 10.041
2018-05-16 1.620 10.052
2018-04-18 1.620 9.652
2018-03-19 1.620 9.507
2018-02-16 1.620 8.688
2018-01-17 1.620 8.381
2017-12-18 1.620 7.971
2017-11-21 1.620 8.682
2017-10-17 1.620 8.251
2017-09-19 1.620 7.831
2017-08-18 1.620 7.535
2017-07-18 1.620 7.525
2017-06-19 1.620 7.463
2017-05-18 1.620 8.083
2017-04-18 1.620 7.649
2017-03-21 1.620 7.284
2017-02-15 1.620 7.218
2017-01-18 1.620 7.082
2016-12-19 1.620 6.887
2016-11-17 1.620 7.259
2016-10-19 1.620 8.093
2016-09-19 1.620 7.427
2016-08-18 1.620 7.159
2016-07-19 1.620 6.444
2016-06-20 1.620 5.533
2016-05-18 1.620 5.527
2016-04-19 1.620 5.455
2016-03-17 1.620 5.655
2016-02-18 1.620 6.371
2016-01-18 1.620 7.002
2015-12-21 1.620 6.987
2015-11-19 1.620 6.865
2015-10-19 1.620 6.116
2015-09-17 1.620 5.851
2015-08-19 1.620 6.012
2015-07-21 1.620 5.561
2015-06-01 1.560 5.007
2015-04-21 1.500 4.482
2015-03-19 1.500 4.480
2015-02-18 1.500 4.609
2015-01-19 1.500 4.359
2014-12-17 1.500 4.286
2014-11-19 1.500 4.351
2014-10-20 1.500 4.559
2014-09-16 1.500 4.908
2014-08-19 1.500 4.546
2014-07-16 1.500 4.839
2014-06-05 1.500 5.265
2014-05-20 1.440 5.227
2014-04-17 1.440 5.202
2014-03-18 1.440 4.992
2014-02-18 1.440 4.886
2014-01-17 1.440 5.460
2013-12-17 1.440 4.904
2013-11-18 1.440 4.137
2013-10-17 1.440 4.015
2013-09-17 1.440 4.061
2013-08-20 1.440 4.169
2013-07-02 1.440 4.324
2013-05-23 1.380 4.352
2013-05-17 1.260 4.275
2013-04-18 1.260 4.413
2013-03-19 1.260 4.447
2013-02-19 1.260 4.407
2013-01-17 1.260 4.813
2012-11-21 1.260 5.285
2012-10-17 1.200 5.341
2012-09-18 1.200 5.224
2012-08-20 1.200 5.101
2012-07-18 1.200 5.093
2012-06-06 1.200 5.532
2012-05-16 1.140 5.701
2012-04-17 1.140 5.903
2012-03-19 1.140 6.180
2012-02-17 1.140 6.221
2012-01-18 1.140 6.169
2011-12-19 1.140 6.377
2011-11-17 1.140 6.714
2011-10-11 1.140 6.842
2011-09-19 1.020 6.504
2011-08-17 1.020 6.400
2011-07-18 1.020 6.463
2011-06-16 1.020 6.340
2011-05-18 1.020 6.453
2011-04-19 1.020 7.142
2011-03-21 1.020 7.707
2011-02-17 1.020 7.826
2011-01-18 1.020 7.822
2010-11-29 1.020 8.671
2010-11-17 0.960 8.967
2010-10-18 0.960 8.971
2010-09-17 0.960 9.247
2010-08-18 0.960 9.550
2010-07-20 0.960 9.806
2010-06-17 0.960 9.931
2010-05-19 0.960 10.341
2010-04-21 0.960 10.268
2010-03-11 0.960 10.282
2010-01-19 0.840 9.357
2009-12-18 0.840 9.587
2009-11-17 0.840 10.416
2009-10-19 0.840 11.431
2009-09-17 0.840 12.777
2009-08-20 0.840 12.815
2009-07-20 0.840 13.021
2009-06-19 0.840 13.396
2009-05-21 0.840 12.703
2009-04-20 0.840 15.127
2009-03-19 0.840 15.976
2009-03-18 1.440 31.158
2009-03-13 0.840 17.143
2009-02-20 1.440 18.971

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Alaris Royalty's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess Alaris Royalty's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Alaris Royalty afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Alaris Royalty has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Alaris Royalty's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Steve King
COMPENSATION CA$847,808
TENURE AS CEO 14.8 years
CEO Bio

Mr. Stephen Walter King, also known as Steve, CFA, has been the Chief Executive Officer and President at Alaris Royalty Corp. since co-founding in April 2004 and its Director since July 31, 2008. In addition to overseeing the daily operations of Alaris, Mr. King is involved in every facet of the investment process and is an integral part of the relationships that are created with each of Alaris' partners. He serves as Director at Alaris Royalty Corp. He has been the President and Chief Executive Officer of Alaris IGF Corp. and its predecessor since April 2004. Mr. King joined Alaris in July 2008. He served as the President at 6550568 Canada Inc. Having worked in Toronto and Calgary, Mr. King has given capital markets and merger and acquisition advice to corporate clients and also advising both public and private company entrepreneurs on their capital raising needs in numerous sectors of the economy. He has spent 12 years in the investment banking industry as a Senior Officer of three different investment dealers. Mr. King serves as a Director of Metropolitan Investment Corporation. He has been a Director at Gold Royalties Corporation since July 27, 2012. Mr. King served as a Director of Investment Banking for First Associates Investments Inc., a predecessor of Blackmont Capital Inc. He served as a Director of Investment Banking at Research Capital Corporation from January 1996 to January 2003 and Sprott Securities Inc from May 1992 to January 1996. Mr. King served as a Director of LifeMark Health Limited Partnership. He served as a Director of 6550568 Canada Inc. Mr. King is involved in a number of volunteer groups. He is a qualified C.F.A.

CEO Compensation
  • Steve's compensation has been consistent with company performance over the past year.
  • Steve's remuneration is lower than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Alaris Royalty management team in years:

4.8
Average Tenure
  • The tenure for the Alaris Royalty management team is about average.
Management Team

Steve King

TITLE
CEO, President & Director
COMPENSATION
CA$848K
TENURE
14.8 yrs

Darren Driscoll

TITLE
Chief Financial Officer
COMPENSATION
CA$655K
TENURE
14.3 yrs

Mike Ervin

TITLE
Chief Legal Officer & Corporate Secretary
COMPENSATION
CA$599K
TENURE
2.3 yrs

Gregg Delcourt

TITLE
Senior Vice President of Small Cap Investments
COMPENSATION
CA$488K
TENURE
3.6 yrs

Amanda Frazer

TITLE
Vice President of Investments
COMPENSATION
CA$386K
TENURE
5.3 yrs

Curtis Krawetz

TITLE
Vice President of Investments & Investor Relations
COMPENSATION
CA$464K
TENURE
5.3 yrs

Dan Bertram

TITLE
Vice-President of Business Development
TENURE
4.4 yrs

Elizabeth McCarthy

TITLE
Vice President of Legal

Devin Timberlake

TITLE
Vice-President of Business Development
TENURE
3.6 yrs
Board of Directors Tenure

Average tenure and age of the Alaris Royalty board of directors in years:

10.6
Average Tenure
65
Average Age
  • The average tenure for the Alaris Royalty board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Jack Lee

TITLE
Chairman
COMPENSATION
CA$142K
AGE
69
TENURE
10.6 yrs

Steve King

TITLE
CEO, President & Director
COMPENSATION
CA$848K
TENURE
10.6 yrs

Mitch Shier

TITLE
Independent Director
COMPENSATION
CA$119K
AGE
60
TENURE
10.6 yrs

Mary Ritchie

TITLE
Independent Director
COMPENSATION
CA$119K
AGE
61
TENURE
10.6 yrs

Gary Patterson

TITLE
Independent Director
COMPENSATION
CA$119K
AGE
69
TENURE
10.6 yrs

Bob Bertram

TITLE
Independent Director
COMPENSATION
CA$119K
AGE
73
TENURE
8.1 yrs

Jay Ripley

TITLE
Director
AGE
60
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
03. Jul 18 Buy Jack Lee Individual 03. Jul 18 03. Jul 18 5,000 CA$15.74 CA$78,664
07. Jun 18 Buy John Ripley Individual 30. May 18 30. May 18 10,000 CA$15.50 CA$155,000
22. May 18 Buy Robert Bertram Individual 22. May 18 22. May 18 6,000 CA$16.50 CA$98,940
18. May 18 Buy Michael Ervin Individual 18. May 18 18. May 18 600 CA$15.99 CA$9,591
18. May 18 Buy Darren Driscoll Individual 18. May 18 18. May 18 9,400 CA$16.03 CA$150,626
X
Management checks
We assess Alaris Royalty's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Alaris Royalty 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

Alaris Royalty Corp (TSE:AD) Is Trading At A 9.9% Discount

Valuing AD, a financial stock, can be daunting since these capital market firms generally have cash flows that are impacted by regulations that are not imposed upon other industries. … Maintaining a certain level of cash capital ratio is common for these financial firms to abide by, in order to minimize risks to their shareholders.

Simply Wall St -

Why Alaris Royalty Corp (TSE:AD) Could Be A Buy

Alaris Royalty Corp (TSE:AD), a capital markets company based in Canada,. … A question to answer is whether Alaris Royalty's current trading price of CA$16.51 reflective of the actual value of the? … Let’s take a look at Alaris Royalty’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Interested In Alaris Royalty Corp (TSE:AD)? Here's How It Performed Recently

When Alaris Royalty Corp (TSE:AD) announced its most recent earnings (31 March 2018), I did two things: looked at its past earnings track record, then look at what is happening in the industry. … Understanding how Alaris Royalty performed requires a benchmark rather than trying to assess a standalone number at one point in time. … AD has recently become loss-making, with its trailing twelve-month earnings of -CA$3.11m (from 31 March 2018) compared to its previous earnings of CA$66.55m.

Simply Wall St -

Alaris Royalty Corp (TSE:AD): Ex-Dividend Is In 3 Days, Should You Buy?

If you are interested in cashing in on Alaris Royalty Corp's (TSX:AD) upcoming dividend of CA$0.14 per share, you only have 3 days left to buy the shares before its ex-dividend date, 27 April 2018, in time for dividends payable on the 15 May 2018. … See our latest analysis for Alaris Royalty 5 checks you should use to assess a dividend stock If you are a dividend investor, you should always assess these five key metrics: Does it pay an annual yield higher than 75% of dividend payers? … TSX:AD Historical Dividend Yield Apr 23rd 18 Does Alaris Royalty pass our checks?

Simply Wall St -

Alaris Royalty Corp (TSE:AD): Should The Recent Earnings Drop Worry You?

After looking at Alaris Royalty Corp's (TSX:AD) latest earnings announcement (31 December 2017), I found it useful to revisit the company's performance in the past couple of years and assess this against the most recent figures. … Revenue growth in the past couple of years, has been positive, however, earnings growth has failed to keep up meaning Alaris Royalty has been ramping up its expenses by a lot more. … Though Alaris Royalty's past data is helpful, it is only one aspect of my investment thesis.

Simply Wall St -

Alaris Royalty Corp (TSE:AD): Ex-Dividend Is Coming In 3 Days, Should You Buy?

On the 15 March 2018, Alaris Royalty Corp (TSX:AD) will be paying shareholders an upcoming dividend amount of CA$0.14 per share. … Check out our latest analysis for Alaris Royalty 5 questions to ask before buying a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Does it pay an annual yield higher than 75% of dividend payers? … TSX:AD Historical Dividend Yield Feb 23rd 18 How well does Alaris Royalty fit our criteria?

Simply Wall St -

Should You Be Tempted To Sell Alaris Royalty Corp (TSE:AD) Because Of Its PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for AD Price per share = CA$19.09 Earnings per share = CA$0.607 ∴ Price-Earnings Ratio = CA$19.09 ÷ CA$0.607 = 31.4x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … Since AD's P/E of 31.4x is higher than its industry peers (13.8x), it means that investors are paying more than they should for each dollar of AD's earnings. … For example, if you are inadvertently comparing riskier firms with AD, then AD’s P/E would naturally be higher than its peers since investors would reward its lower risk with a higher price.

Simply Wall St -

Does Alaris Royalty Corp's (TSE:AD) Past Performance Indicate A Weaker Future?

After reading Alaris Royalty Corp's (TSX:AD) most recent earnings announcement (30 September 2017), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … For Alaris Royalty, its most recent earnings (trailing twelve month) is CA$22.1M, which compared to the previous year's figure, has declined by a non-trivial -66.22%. … Revenue growth in the past couple of years, has been positive, however, earnings growth has not been able to catch up, meaning Alaris Royalty has been increasing its expenses by a lot more.

Simply Wall St -

Top Growth Stocks in December

Stocks such as Alaris Royalty and Avino Silver & Gold Mines are considered to be high growth in terms of how much they’re expected to earn and return to shareholders, according to the market. … TSX:AD Future Profit Dec 25th 17 Avino Silver & Gold Mines Ltd. … Avino Silver & Gold Mines was founded in 1968 and with the company's market cap sitting at CAD CA$98.06M, it falls under the small-cap group.

Simply Wall St -

Alaris Royalty Corp (TSE:AD): Ex-Dividend Is Coming In 3 Days, Should You Buy?

See our latest analysis for Alaris Royalty 5 checks you should do on a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is their annual yield among the top 25% of dividend payers? … TSX:AD Historical Dividend Yield Dec 25th 17 How does Alaris Royalty fare? … It may be worth exploring other dividend stocks as alternatives to Alaris Royalty or even look at high-growth stocks to complement your steady income stocks.

Simply Wall St -

Company Info

Map
Description

Alaris Royalty Corp. is a private equity firm specializing in management buyouts, growth capital, lower & middle market, later stage, industry consolidation, growth capital, and mature investments. The firm does not invest in turnarounds and start-ups. It prefers to invest in the companies based in all industries except for those with a declining asset base, such as oil and gas resource companies, or any industry that carry the risk of obsolescence such as high tech and focuses on business services, professional services, information services, healthcare services, distribution & logistics, industrials, consumer products. The firm seeks to invest in companies raising capital for a partial liquidity, generational transfer, recapitalization, and growth and who do not want to give up control or chance the added risk that comes with high leverage levels. It prefers to invest in companies that are mostly individual or family controlled. The firm typically provides alternative financing for a diversified group of private businesses ("Private Company Partners") in exchange for royalties or distributions from the Private Company Partners, with the principal objective of generating stable and predictable cash flows for dividend payments to its shareholders. It seeks to invest in the companies based in Europe, North America with the focus on Canada, and United States. It typically invests between $5 million and $100 million in companies with an enterprise values between $10 million and $400 million and EBITDA between $5 million and $50 million, historical EBITDA in excess of $10 million, and Low levels of debt and capital expenditure. The firm also makes small cap investments upto $20 million in private companies that have historical EBITDA in excess of $2 million. However, for larger companies, transactions can be structured to include additional investments. The firm seeks to invest in industries that do not experience large cyclical swings. It does not own any shares and does not require board representation. The firm invests through balance sheet and seeks equity dividend distribution from portfolios. It prefers to make non control equity, minority and majority investments in its portfolio companies. Alaris Royalty Corp. was founded in 2008 and is based in Calgary, Canada.

Details
Name: Alaris Royalty Corp.
AD
Exchange: TSX
Founded: 2008
CA$700,362,979
36,496,247
Website: http://www.alarisroyalty.com
Address: Alaris Royalty Corp.
333 4th Avenue SW,
Suite 250,
Calgary,
Alberta, T2S 3E6,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX AD Voting Common Shares The Toronto Stock Exchange CA CAD 18. Nov 2008
OTCPK ALAR.F Voting Common Shares Pink Sheets LLC US USD 18. Nov 2008
DB 84A Voting Common Shares Deutsche Boerse AG DE EUR 18. Nov 2008
Number of employees
Current staff
Staff numbers
14
Alaris Royalty employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/14 00:31
End of day share price update: 2019/02/13 00:00
Last estimates confirmation: 2019/01/15
Last earnings filing: 2018/11/05
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


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.