TSX:CHE.UN

Stock Analysis Report

Chemtrade Logistics Income Fund

Executive Summary

Chemtrade Logistics Income Fund provides industrial chemicals and services in Canada, the United States, and South America.

Snowflake


Similar Companies

Share Price & News

How has Chemtrade Logistics Income Fund's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.8%

CHE.UN

-2.2%

CA Chemicals

0.2%

CA Market


1 Year Return

-18.8%

CHE.UN

-11.0%

CA Chemicals

3.5%

CA Market

Return vs Industry: CHE.UN underperformed the Canadian Chemicals industry which returned -11% over the past year.

Return vs Market: CHE.UN underperformed the Canadian Market which returned 3.5% over the past year.


Shareholder returns

CHE.UNIndustryMarket
7 Day0.8%-2.2%0.2%
30 Day-10.4%-4.6%-3.3%
90 Day2.5%-5.9%-1.9%
1 Year-8.5%-18.8%-7.9%-11.0%7.3%3.5%
3 Year-24.2%-41.3%-8.8%-14.2%14.7%4.4%
5 Year-27.1%-50.1%-22.3%-30.5%26.2%7.7%

Price Volatility Vs. Market

How volatile is Chemtrade Logistics Income Fund's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Chemtrade Logistics Income Fund undervalued compared to its fair value and its price relative to the market?

48.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CHE.UN (CA$10.44) is trading below our estimate of fair value (CA$20.11)

Significantly Below Fair Value: CHE.UN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CHE.UN is unprofitable, so we can't compare its PE Ratio to the Chemicals industry average.

PE vs Market: CHE.UN is unprofitable, so we can't compare its PE Ratio to the Canadian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CHE.UN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CHE.UN is good value based on its PB Ratio (1.1x) compared to the CA Chemicals industry average (1.2x).

Future Growth

How is Chemtrade Logistics Income Fund forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

126.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CHE.UN is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: CHE.UN is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: CHE.UN is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: CHE.UN's revenue (2.3% per year) is forecast to grow slower than the Canadian market (5.5% per year).

High Growth Revenue: CHE.UN's revenue (2.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CHE.UN's Return on Equity is forecast to be high in 3 years time

Past Performance

How has Chemtrade Logistics Income Fund performed over the past 5 years?

-21.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CHE.UN is unprofitable, and losses have increased over the past 5 years at a rate of -21.4% per year.

Accelerating Growth: Unable to compare CHE.UN's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CHE.UN is unprofitable, making it difficult to compare its past year earnings growth to the Chemicals industry (-25.7%).


Return on Equity

High ROE: CHE.UN has a negative Return on Equity (-20.76%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: CHE.UN is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: CHE.UN is currently unprofitable, so its Return on Capital Employed is negative.

Financial Health

How is Chemtrade Logistics Income Fund's financial position?


Financial Position Analysis

Short Term Liabilities: CHE.UN's short term assets (CA$546.1M) exceeds its short term liabilities (CA$317.2M)

Long Term Liabilities: CHE.UN's short term assets (546.1M) do not cover its long term liabilities (1.7B)


Debt to Equity History and Analysis

Debt Level: CHE.UN's debt to equity ratio (160.2%) is considered high

Reducing Debt: CHE.UN's debt to equity ratio has reduced from 171.4% to 160.2% over the past 5 years.


Balance Sheet

Inventory Level: CHE.UN has a high level of physical assets or inventory.

Debt Coverage by Assets: CHE.UN's debt is not covered by short term assets (assets are 0.4x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable CHE.UN has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: CHE.UN is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 12.1% per year.

Dividend

What is Chemtrade Logistics Income Fund's current dividend yield, its reliability and sustainability?

11.49%

Current Dividend Yield


Dividend Yield vs Market

company11.5%marketbottom25%2.0%markettop25%5.9%industryaverage2.3%forecastin3Years11.5%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CHE.UN's dividend (11.49%) is higher than the bottom 25% of dividend payers in the Canadian market (1.98%).

High Dividend: CHE.UN's dividend (11.49%) is in the top 25% of dividend payers in the Canadian market (5.92%)

Stable Dividend: CHE.UN's dividends per share have been stable in the past 10 years.

Growing Dividend: CHE.UN's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: CHE.UN is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

What is the CEO of Chemtrade Logistics Income Fund's salary, the management and board of directors tenure and is there insider trading?

2.9yrs

Average management tenure


CEO

Mark Davis (60yo)

18.8yrs

Tenure

CA$8,688,382

Compensation

Mr. Mark A. Davis, LL.B., has been the President and Chief Executive Officer of Chemtrade Logistics Inc. since 2001. Mr. Davis has been the President of Chemtrade Logistics Inc. and Chemtrade Logistics Inc ...


CEO Compensation Analysis

Compensation vs. Market: Mark's total compensation ($USD6.64M) is above average for companies of similar size in the Canadian market ($USD1.63M).

Compensation vs Earnings: Mark's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

2.9yrs

Average Tenure

Experienced Management: CHE.UN's management team is considered experienced (2.9 years average tenure).


Board Age and Tenure

6.8yrs

Average Tenure

63yo

Average Age

Experienced Board: CHE.UN's board of directors are considered experienced (6.8 years average tenure).


Insider Trading

Insider Buying: CHE.UN insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyCA$121,53804 Sep 19
Douglas Muzyka
EntityIndividual
Role
Member of Advisory Board
Ex-Officio Director
Shares11,400
Max PriceCA$10.67
BuyCA$132,11030 Aug 19
Michael St. Pierre
EntityIndividual
Shares12,465
Max PriceCA$10.60
BuyCA$71,53926 Aug 19
Douglas Muzyka
EntityIndividual
Role
Member of Advisory Board
Ex-Officio Director
Shares7,000
Max PriceCA$10.22
BuyCA$3,20823 Aug 19
Susan Paré
EntityIndividual
Role
Chief Legal Officer
General Counsel & Corporate Secretary
Shares310
Max PriceCA$10.35
BuyCA$168,30923 Aug 19
Tab McCullough
EntityIndividual
Shares16,100
Max PriceCA$10.45
BuyCA$104,78523 Aug 19
Dan Dietz
EntityIndividual
Shares10,100
Max PriceCA$10.37
BuyCA$3,01621 Aug 19
Dan Dietz
EntityIndividual
Shares300
Max PriceCA$10.05
BuyCA$50,17020 Aug 19
Mark Davis
EntityIndividual
Role
Chief Executive Officer
President
Shares5,000
Max PriceCA$10.03
BuyCA$128,55919 Aug 19
Leon Aarts
EntityIndividual
Role
Head of Corporate Development
Group Vice-President of Corporate Development & Strategy
Shares13,000
Max PriceCA$10.03
BuyCA$150,58319 Aug 19
Mark Davis
EntityIndividual
Role
Chief Executive Officer
President
Shares15,300
Max PriceCA$9.84
BuyCA$93,38516 Aug 19
Lorie Waisberg
EntityIndividual
Role
Chairman of the Board
Chairman of Board of Trustees
Shares9,500
Max PriceCA$9.83
BuyCA$44,71516 Aug 19
Emily Powers
EntityIndividual
Role
Head of Human Resources
Group Vice President of Human Resources & Responsible Care
Shares4,605
Max PriceCA$9.73
BuyCA$14,73016 Aug 19
Susan Paré
EntityIndividual
Role
Chief Legal Officer
General Counsel & Corporate Secretary
Shares1,500
Max PriceCA$9.83
BuyCA$75,71416 Aug 19
Rohit Bhardwaj
EntityIndividual
Role
Chief Financial Officer
VP of Finance & CFO
Shares7,800
Max PriceCA$9.72
BuyCA$67,99616 Aug 19
Douglas Muzyka
EntityIndividual
Role
Member of Advisory Board
Ex-Officio Director
Shares7,000
Max PriceCA$9.71
BuyCA$34,30016 Aug 19
Lucio Di Clemente
EntityIndividual
Role
Member of the Board of Directors
Shares3,500
Max PriceCA$9.80

Ownership Breakdown


Management Team

  • Rohit Bhardwaj

    VP of Finance & CFO

    • Tenure: 13.6yrs
    • Compensation: CA$988.64k
  • Mark Davis (60yo)

    President

    • Tenure: 18.8yrs
    • Compensation: CA$8.69m
  • Leon Aarts

    Group Vice-President of Corporate Development & Strategy

    • Tenure: 1.8yrs
    • Compensation: CA$2.07m
  • Susan Paré

    General Counsel & Corporate Secretary

    • Tenure: 2.9yrs
  • Beat Heller

    President of BCT Chemtrade Corp.

    • Tenure: 0yrs
  • Nick Elliott

    Corporate Controller

    • Tenure: 1.4yrs
  • Scott Rook

    Chief Operating Officer

    • Tenure: 0.08yrs
  • Emily Powers

    Group Vice President of Human Resources & Responsible Care

    • Tenure: 3.3yrs

Board Members

  • Lucio Di Clemente (60yo)

    • Tenure: 10.3yrs
    • Compensation: CA$184.67k
  • Lorie Waisberg (77yo)

    Chairman of Board of Trustees

    • Tenure: 10.8yrs
    • Compensation: CA$294.44k
  • Doug Muzyka (64yo)

    Ex-Officio Director

    • Tenure: 1.8yrs
    • Compensation: CA$117.28k
  • Katherine Rethy (63yo)

    • Tenure: 4.3yrs
    • Compensation: CA$145.60k
  • David Gee (71yo)

    • Tenure: 12.6yrs
    • Compensation: CA$225.23k
  • Mark Davis (60yo)

    President

    • Tenure: 18.8yrs
    • Compensation: CA$8.69m
  • Susan McArthur (56yo)

    • Tenure: 7.2yrs
    • Compensation: CA$180.37k
  • Emily Moore

    • Tenure: 0.3yrs

Company Information

Chemtrade Logistics Income Fund's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Chemtrade Logistics Income Fund
  • Ticker: CHE.UN
  • Exchange: TSX
  • Founded: 2001
  • Industry: Commodity Chemicals
  • Sector: Materials
  • Market Cap: CA$966.702m
  • Shares outstanding: 92.60m
  • Website: https://www.chemtradelogistics.com

Number of Employees


Location

  • Chemtrade Logistics Income Fund
  • 155 Gordon Baker Road
  • Suite 300
  • Toronto
  • Ontario
  • M2H 3N5
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CHE.UNTSX (The Toronto Stock Exchange)YesUnitsCACADJul 2001
CGIF.FOTCPK (Pink Sheets LLC)YesUnitsUSUSDJul 2001

Biography

Chemtrade Logistics Income Fund provides industrial chemicals and services in Canada, the United States, and South America. It operates through Sulphur Products & Performance Chemicals (SPPC), Water Soluti ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 23:34
End of Day Share Price2019/10/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.