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Chemtrade Logistics Income Fund

TSX:CHE.UN
Snowflake Description

Moderate growth potential second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CHE.UN
TSX
CA$890M
Market Cap
  1. Home
  2. CA
  3. Materials
Company description

Chemtrade Logistics Income Fund provides industrial chemicals and services in Canada, the United States, and South America. The last earnings update was 34 days ago. More info.


Add to Portfolio Compare Print
  • Chemtrade Logistics Income Fund is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
CHE.UN Share Price and Events
7 Day Returns
2%
TSX:CHE.UN
-0.3%
CA Chemicals
0.9%
CA Market
1 Year Returns
-39.7%
TSX:CHE.UN
10.7%
CA Chemicals
1.2%
CA Market
CHE.UN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Chemtrade Logistics Income Fund (CHE.UN) 2% 6.8% -8.9% -39.7% -45.4% -55.7%
CA Chemicals -0.3% 0.9% 15.8% 10.7% 44.9% -4.8%
CA Market 0.9% 2.3% 12.4% 1.2% 16.1% 5.9%
1 Year Return vs Industry and Market
  • CHE.UN underperformed the Chemicals industry which returned 10.7% over the past year.
  • CHE.UN underperformed the Market in Canada which returned 1.2% over the past year.
Price Volatility
CHE.UN
Industry
5yr Volatility vs Market

Value

 Is Chemtrade Logistics Income Fund 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 Chemtrade Logistics Income Fund 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    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Chemtrade Logistics Income Fund.

TSX:CHE.UN Discounted Cash Flow Data Sources
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 13.9%
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:CHE.UN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Chemicals Unlevered Beta Simply Wall St/ S&P Global 1.36
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.355 (1 + (1- 26.5%) (142.77%))
2.191
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (2 * 5.96%)
13.87%

Discounted Cash Flow Calculation for TSX:CHE.UN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Chemtrade Logistics Income Fund 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.

TSX:CHE.UN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 13.87%)
2019 137.00 Analyst x1 120.32
2020 143.50 Analyst x2 110.68
2021 148.98 Est @ 3.82% 100.91
2022 153.84 Est @ 3.26% 91.51
2023 158.25 Est @ 2.87% 82.67
2024 162.35 Est @ 2.59% 74.48
2025 166.24 Est @ 2.4% 66.98
2026 170.00 Est @ 2.26% 60.15
2027 173.68 Est @ 2.17% 53.97
2028 177.33 Est @ 2.1% 48.40
Present value of next 10 years cash flows CA$810.07
TSX:CHE.UN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CA$177.33 × (1 + 1.95%) ÷ (13.87% – 1.95%)
CA$1,516.66
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$1,516.66 ÷ (1 + 13.87%)10
CA$413.91
TSX:CHE.UN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$810.07 + CA$413.91
CA$1,223.99
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$1,223.99 / 92.60
CA$13.22
TSX:CHE.UN Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$13.22
Current discount Discount to share price of CA$9.61
= -1 x (CA$9.61 - CA$13.22) / CA$13.22
27.3%

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

Current Discount
Amount off the current price Chemtrade Logistics Income Fund is available for.
Intrinsic value
27%
Share price is CA$9.61 vs Future cash flow value of CA$13.22
Current Discount Checks
For Chemtrade Logistics Income Fund to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Chemtrade Logistics Income Fund's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Chemtrade Logistics Income Fund'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 Chemtrade Logistics Income Fund's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Chemtrade Logistics Income Fund's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:CHE.UN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CAD CA$-1.42
TSX:CHE.UN Share Price ** TSX (2019-03-19) in CAD CA$9.61
Canada Chemicals Industry PE Ratio Median Figure of 6 Publicly-Listed Chemicals Companies 8.99x
Canada Market PE Ratio Median Figure of 542 Publicly-Listed Companies 14.83x

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

** Primary Listing of Chemtrade Logistics Income Fund.

TSX:CHE.UN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:CHE.UN Share Price ÷ EPS (both in CAD)

= 9.61 ÷ -1.42

-6.77x

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

  • Chemtrade Logistics Income Fund is loss making, we can't compare its value to the CA Chemicals industry average.
  • Chemtrade Logistics Income Fund is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Chemtrade Logistics Income Fund's expected growth come at a high price?
Raw Data
TSX:CHE.UN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -6.77x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
136.9%per year
North America Chemicals Industry PEG Ratio Median Figure of 49 Publicly-Listed Chemicals Companies 1.45x
Canada Market PEG Ratio Median Figure of 252 Publicly-Listed Companies 1.21x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Chemtrade Logistics Income Fund, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Chemtrade Logistics Income Fund's assets?
Raw Data
TSX:CHE.UN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CAD CA$10.98
TSX:CHE.UN Share Price * TSX (2019-03-19) in CAD CA$9.61
Canada Chemicals Industry PB Ratio Median Figure of 29 Publicly-Listed Chemicals Companies 1.34x
Canada Market PB Ratio Median Figure of 2,347 Publicly-Listed Companies 1.56x
TSX:CHE.UN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:CHE.UN Share Price ÷ Book Value per Share (both in CAD)

= 9.61 ÷ 10.98

0.88x

* Primary Listing of Chemtrade Logistics Income Fund.

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

  • Chemtrade Logistics Income Fund is good value based on assets compared to the CA Chemicals industry average.
X
Value checks
We assess Chemtrade Logistics Income Fund'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 Chemicals 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 Chemicals industry average (and greater than 0)? (1 check)
  5. Chemtrade Logistics Income Fund 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

 How is Chemtrade Logistics Income Fund 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
136.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Chemtrade Logistics Income Fund expected to grow at an attractive rate?
  • Chemtrade Logistics Income Fund's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Chemtrade Logistics Income Fund's earnings growth is expected to exceed the Canada market average.
  • Chemtrade Logistics Income Fund's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:CHE.UN Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:CHE.UN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 136.9%
TSX:CHE.UN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 2.5%
Canada Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 28.6%
Canada Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 3.2%
Canada Market Earnings Growth Rate Market Cap Weighted Average 17.9%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6.8%

*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:CHE.UN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 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:CHE.UN Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 1,678 253 17 7
2019-12-31 1,636 229 14 7
TSX:CHE.UN Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,596 244 -132
2018-09-30 1,592 227 11
2018-06-30 1,574 195 24
2018-03-31 1,576 201 85
2017-12-31 1,469 151 79
2017-09-30 1,334 139 40
2017-06-30 1,207 136 19
2017-03-31 1,061 126 -11
2016-12-31 1,067 153 16
2016-09-30 914 172 -81
2016-06-30 1,005 172 -64
2016-03-31 1,082 195 -22

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Chemtrade Logistics Income Fund's earnings are expected to grow significantly at over 20% yearly.
  • Chemtrade Logistics Income Fund's revenue is expected to grow by 2.5% 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:CHE.UN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Chemtrade Logistics Income Fund Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:CHE.UN Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.25 0.42 0.10 3.00
2019-12-31 0.17 0.17 0.16 2.00
TSX:CHE.UN Past Financials Data
Date (Data in CAD Millions) EPS *
2018-12-31 -1.42
2018-09-30 0.12
2018-06-30 0.26
2018-03-31 0.92
2017-12-31 0.89
2017-09-30 0.48
2017-06-30 0.25
2017-03-31 -0.15
2016-12-31 0.23
2016-09-30 -1.17
2016-06-30 -0.93
2016-03-31 -0.31

*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.
  • Chemtrade Logistics Income Fund is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Chemtrade Logistics Income Fund'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.
Chemtrade Logistics Income Fund has a total score of 3/6, 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 Chemtrade Logistics Income Fund 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 Chemtrade Logistics Income Fund's growth in the last year to its industry (Chemicals).
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.
  • Chemtrade Logistics Income Fund does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Chemtrade Logistics Income Fund's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Chemtrade Logistics Income Fund's 1-year growth to the North America Chemicals industry average as it is not currently profitable.
Earnings and Revenue History
Chemtrade Logistics Income Fund'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 Chemtrade Logistics Income Fund Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:CHE.UN Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,595.75 -131.52 86.31
2018-09-30 1,591.62 11.13 100.23
2018-06-30 1,573.93 24.34 175.75
2018-03-31 1,576.06 85.07 108.97
2017-12-31 1,469.14 78.82 110.23
2017-09-30 1,334.22 39.78 97.55
2017-06-30 1,206.74 19.47 87.31
2017-03-31 1,061.46 -10.63 85.19
2016-12-31 1,067.26 16.21 79.90
2016-09-30 913.76 -80.69 75.50
2016-06-30 1,005.15 -64.33 71.86
2016-03-31 1,081.79 -21.53 74.88
2015-12-31 1,127.47 -58.00 79.16
2015-09-30 1,342.49 22.40 83.40
2015-06-30 1,292.04 -2.00 90.34
2015-03-31 1,263.33 -6.78 87.54
2014-12-31 1,203.40 -20.82 86.44
2014-09-30 1,084.24 -38.18 86.68
2014-06-30 971.90 -10.61 75.60
2014-03-31 874.15 -17.29 72.98
2013-12-31 813.08 11.31 67.46
2013-09-30 842.00 54.42 69.15
2013-06-30 881.24 43.38 71.31
2013-03-31 896.49 40.37 72.66
2012-12-31 919.37 38.94 67.86
2012-09-30 943.56 26.86 43.03
2012-06-30 971.21 24.01 43.34
2012-03-31 938.92 51.08 49.55

*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.
  • It is difficult to establish if Chemtrade Logistics Income Fund has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Chemtrade Logistics Income Fund has efficiently used its assets last year compared to the CA Chemicals industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Chemtrade Logistics Income Fund improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Chemtrade Logistics Income Fund'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 Chemicals 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.
Chemtrade Logistics Income Fund has a total score of 0/6, 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 Chemtrade Logistics Income Fund'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 Chemtrade Logistics Income Fund's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Chemtrade Logistics Income Fund's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Chemtrade Logistics Income Fund's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Chemtrade Logistics Income Fund'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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.3x 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 Chemtrade Logistics Income Fund Company Filings, last reported 2 months ago.

TSX:CHE.UN Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,016.71 1,270.45 13.75
2018-09-30 1,055.44 1,269.87 9.87
2018-06-30 1,085.83 1,329.81 6.29
2018-03-31 1,151.39 1,307.49 15.37
2017-12-31 1,148.65 1,288.60 11.14
2017-09-30 1,115.27 1,279.47 10.25
2017-06-30 1,143.26 1,335.62 12.67
2017-03-31 1,157.79 1,410.06 27.41
2016-12-31 769.06 852.58 14.74
2016-09-30 782.60 859.37 18.57
2016-06-30 780.59 866.35 10.69
2016-03-31 825.73 850.45 5.01
2015-12-31 880.77 869.32 7.99
2015-09-30 940.84 872.15 12.93
2015-06-30 879.85 876.81 12.96
2015-03-31 879.34 921.17 17.09
2014-12-31 830.23 778.94 11.17
2014-09-30 719.17 881.60 13.71
2014-06-30 617.40 1,061.89 14.17
2014-03-31 628.14 1,073.90 6.97
2013-12-31 308.42 429.12 9.62
2013-09-30 334.22 404.54 8.92
2013-06-30 334.43 419.83 8.13
2013-03-31 321.53 436.47 9.32
2012-12-31 321.53 410.82 6.08
2012-09-30 315.67 438.32 21.79
2012-06-30 330.49 447.74 17.25
2012-03-31 327.42 460.14 25.34
  • Chemtrade Logistics Income Fund's level of debt (125%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (139.8% vs 125% today).
  • Debt is not well covered by operating cash flow (19.2%, less than 20% of total debt).
  • Chemtrade Logistics Income Fund is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Chemtrade Logistics Income Fund'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. Chemtrade Logistics Income Fund has a total score of 1/6, 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 Chemtrade Logistics Income Fund'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
12.49%
Current annual income from Chemtrade Logistics Income Fund dividends. Estimated to be 12.49% next year.
If you bought CA$2,000 of Chemtrade Logistics Income Fund shares you are expected to receive CA$250 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?
  • Chemtrade Logistics Income Fund's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.09%).
  • Chemtrade Logistics Income Fund's dividend is above the markets top 25% of dividend payers in Canada (5.67%).
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:CHE.UN 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
North America Chemicals Industry Average Dividend Yield Market Cap Weighted Average of 55 Stocks 2.3%
Canada Market Average Dividend Yield Market Cap Weighted Average of 330 Stocks 3.5%
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 5.7%

Industry and Market average data is calculated daily.

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

TSX:CHE.UN Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 1.20 6.00
2019-12-31 1.20 6.00
TSX:CHE.UN Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-02-19 1.200 12.702
2019-01-22 1.200 11.404
2018-12-17 1.200 11.434
2018-11-21 1.200 10.657
2018-10-22 1.200 9.787
2018-09-19 1.200 8.059
2018-08-22 1.200 7.501
2018-07-20 1.200 8.003
2018-06-20 1.200 7.785
2018-05-22 1.200 7.681
2018-04-19 1.200 7.853
2018-03-20 1.200 7.834
2018-02-16 1.200 7.342
2018-01-16 1.200 7.052
2017-12-18 1.200 6.375
2017-11-21 1.200 6.328
2017-10-20 1.200 6.143
2017-09-21 1.200 6.136
2017-08-22 1.200 6.421
2017-07-20 1.200 6.766
2017-05-19 1.200 6.706
2017-04-19 1.200 6.444
2017-03-22 1.200 6.388
2017-02-16 1.200 6.519
2017-01-20 1.200 6.665
2016-12-19 1.200 6.453
2016-11-21 1.200 6.690
2016-10-20 1.200 6.776
2016-09-21 1.200 6.583
2016-08-22 1.200 6.789
2016-07-20 1.200 6.663
2016-06-21 1.200 6.784
2016-05-19 1.200 6.700
2016-04-20 1.200 6.590
2016-03-18 1.200 6.693
2016-02-18 1.200 7.220
2016-01-20 1.200 7.712
2015-12-17 1.200 7.268
2015-11-19 1.200 6.964
2015-10-21 1.200 6.521
2015-09-21 1.200 6.569
2015-08-20 1.200 6.590
2015-07-22 1.200 6.311
2015-06-19 1.200 5.959
2015-05-20 1.200 5.870
2015-04-21 1.200 5.626
2015-03-20 1.200 5.602
2015-02-18 1.200 5.693
2015-01-21 1.200 5.723
2014-12-17 1.200 5.856
2014-11-19 1.200 5.826
2014-10-22 1.200 5.761
2014-09-19 1.200 5.953
2014-08-20 1.200 5.591
2014-07-22 1.200 5.685
2014-06-19 1.200 5.652
2014-05-21 1.200 5.960
2014-04-21 1.200 5.842
2014-03-20 1.200 5.670
2014-02-19 1.200 5.592
2014-01-22 1.200 5.781
2013-12-16 1.200 6.051
2013-11-20 1.200 6.808
2013-10-22 1.200 7.109
2013-09-19 1.200 7.081
2013-08-21 1.200 7.091
2013-07-22 1.200 7.055
2013-06-19 1.200 7.027
2013-05-22 1.200 6.912
2013-04-19 1.200 6.979
2013-03-19 1.200 6.924
2013-02-19 1.200 7.114
2013-01-22 1.200 7.264
2012-12-13 1.200 7.401
2012-11-21 1.200 7.460
2012-10-22 1.200 7.427
2012-09-19 1.200 7.288
2012-08-22 1.200 7.317
2012-07-20 1.200 7.389
2012-06-20 1.200 7.842
2012-05-22 1.200 7.801
2012-04-19 1.200 7.478
2012-02-22 1.200 7.385
2012-01-20 1.200 7.588
2011-12-16 1.200 7.975
2011-11-21 1.200 8.449
2011-10-20 1.200 8.852
2011-09-21 1.200 9.619
2011-08-22 1.200 8.879
2011-07-20 1.200 8.600
2011-06-21 1.200 8.290
2011-05-19 1.200 8.301
2011-04-18 1.200 8.440
2011-03-22 1.200 8.712
2011-02-16 1.200 8.642
2011-01-20 1.200 8.151
2010-12-20 1.200 8.040
2010-11-19 1.200 8.305
2010-10-20 1.200 8.856
2010-09-21 1.200 10.191
2010-08-20 1.200 11.126
2010-07-21 1.200 10.640
2010-06-21 1.200 10.397
2010-05-19 1.200 10.425
2010-04-21 1.200 9.639
2010-03-22 1.200 9.420
2010-02-17 1.200 9.553
2010-01-20 1.200 10.084
2009-12-18 1.200 10.329
2009-11-19 1.200 11.906
2009-10-21 1.200 12.520
2009-09-21 1.200 13.872
2009-08-20 1.200 14.739
2009-07-22 1.200 15.783
2009-06-19 1.200 17.053
2009-05-20 1.200 17.106
2009-03-20 1.200 21.566

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.
  • No dividend growth in 10 years.
Current Payout to shareholders
What portion of Chemtrade Logistics Income Fund's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.3x coverage).
X
Income/ dividend checks
We assess Chemtrade Logistics Income Fund'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 Chemtrade Logistics Income Fund afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Chemtrade Logistics Income Fund has a total score of 3/6, 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 Chemtrade Logistics Income Fund'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
Mark Davis
COMPENSATION CA$8,688,382
AGE 59
TENURE AS CEO 18.2 years
CEO Bio

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 Income Fund since October 1, 2007. He has been the Chief Executive Officer and President of Chemtrade Electrochem Inc. (formerly Canexus Corporation) since March 10, 2017. He serves as the Chief Executive Officer of Chemtrade Logistics Income Fund. He serves as the President and Chief Executive Officer of Toronto, Ontario Fund. He serves as Manager of ACS Media LLC. He served as President of Chemtrade Logistics Inc. and Chemtrade Logistics Income Fund until January 2006. From 1999 to 2001, Mr. Davis served as President of North American Operations of Marsulex Inc. From 1993 to 1999, he served various positions with Sterling Pulp Chemicals Ltd., including Corporate Secretary, Vice President, General Counsel and finally President. From 1993 to 1999, he served as President of Sterling Pulp Chemicals Ltd. based in Toronto. Mr. Davis was Partner at the law firm Borden & Elliot in Toronto. He serves as the Chairman of the Board of Trustees of ACS Media Income Fund. He has been a Director of Chemtrade Electrochem Inc. (formerly Canexus Corporation) since March 10, 2017. He has been a Director of Chemtrade Logistics Inc., Chemtrade Performance Chemicals Canada Inc. and 4159110 Canada Inc. (GPCo), the general partner of Chemtrade Pulp Chemicals Limited Partnership since May 17, 2001. Mr. Davis has been a Trustee of ACS Media Income Fund since May 8, 2003. He has been a Trustee of Chemtrade Logistics Income Fund since May 16, 2013. He serves as a Director of ACS Media Canada Inc. He has been an Independent Director of Great Canadian Gaming Corporation. since June 20, 2013. Mr. Davis served as a Trustee of Osprey Media Publishing Inc. (also known as Osprey Media Holdings Inc. and Osprey Media Income Fund) since May 10, 2005. He served as a Trustee of EnerCare Inc. (also known as Trustee of Consumers' Waterheater Income Fund). Previously, he served as a Trustee of Chemtrade Logistics Income Fund from 2001 to 2006. Mr. Davis has an LL.B. from Osgoode Hall Law School.

CEO Compensation
  • Mark's compensation has increased whilst company is loss making.
  • Mark's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Chemtrade Logistics Income Fund management team in years:

2.5
Average Tenure
  • The tenure for the Chemtrade Logistics Income Fund management team is about average.
Management Team

Mark Davis

TITLE
CEO, President & Trustee
COMPENSATION
CA$9M
AGE
59
TENURE
18.2 yrs

Rohit Bhardwaj

TITLE
VP of Finance & CFO
COMPENSATION
CA$989K
TENURE
13 yrs

Leon Aarts

TITLE
Group Vice-President of Corporate Development & Strategy
COMPENSATION
CA$2M
TENURE
1.2 yrs

Susan Paré

TITLE
General Counsel & Corporate Secretary
TENURE
2.3 yrs

Emily Powers

TITLE
Vice President of Human Resources
TENURE
2.7 yrs

Nick Elliott

TITLE
Corporate Controller
TENURE
0.8 yrs

Beat Heller

TITLE
President of BCT Chemtrade Corp.
Board of Directors Tenure

Average tenure and age of the Chemtrade Logistics Income Fund board of directors in years:

6.6
Average Tenure
62
Average Age
  • The tenure for the Chemtrade Logistics Income Fund board of directors is about average.
Board of Directors

Lorie Waisberg

TITLE
Chairman of Board of Trustees
COMPENSATION
CA$294K
AGE
76
TENURE
10.2 yrs

Mark Davis

TITLE
CEO, President & Trustee
COMPENSATION
CA$9M
AGE
59
TENURE
5.8 yrs

Lucio Di Clemente

TITLE
COMPENSATION
CA$185K
AGE
59
TENURE
9.7 yrs

Katherine Rethy

TITLE
COMPENSATION
CA$146K
AGE
62
TENURE
3.7 yrs

David Gee

TITLE
COMPENSATION
CA$225K
AGE
70
TENURE
12 yrs

Susan McArthur

TITLE
COMPENSATION
CA$180K
AGE
55
TENURE
6.6 yrs

Doug Muzyka

TITLE
Ex-Officio Director
COMPENSATION
CA$117K
AGE
63
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
14. Aug 18 Buy Rohit Bhardwaj Individual 14. Aug 18 14. Aug 18 5,000 CA$14.83 CA$74,150
29. Mar 18 Buy Susan Paré Individual 26. Mar 18 26. Mar 18 900 CA$15.45 CA$13,881
28. Mar 18 Buy Michael St. Pierre Individual 27. Mar 18 27. Mar 18 8,239 CA$15.67 CA$128,998
X
Management checks
We assess Chemtrade Logistics Income Fund'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. Chemtrade Logistics Income Fund 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 Chemtrade Logistics Income Fund's (TSE:CHE.UN) Interest Costs Too High?

While small-cap stocks, such as Chemtrade Logistics Income Fund (TSE:CHE.UN) with its market cap of CA$1.51b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Evaluating financial health as part of your investment thesis is. … Here are few basic financial health checks you should consider before taking the plunge.

Simply Wall St -

Chemtrade Logistics Income Fund (TSE:CHE.UN): Ex-Dividend Is In 2 Days, Should You Buy?

Important news for shareholders and potential investors in Chemtrade Logistics Income Fund (TSE:CHE.UN): The dividend payment of CA$0.10 per share will be distributed into shareholder on 31 August 2018, and the stock will begin trading ex-dividend at an earlier date, 30 July 2018. … Is this future income a persuasive enough catalyst for investors to think about Chemtrade Logistics Income Fund as an investment today? … View our latest analysis for Chemtrade Logistics Income Fund?

Simply Wall St -

What You Must Know About Chemtrade Logistics Income Fund's (TSE:CHE.UN) Major Investors

Today, I will be analyzing Chemtrade Logistics Income Fund’s (TSE:CHE.UN) recent ownership structure, an important but not-so-popular subject among individual investors. … Ownership structure has been found to have an impact on shareholder returns in both short- and long-term. … View our latest analysis for Chemtrade Logistics Income Fund

Simply Wall St -

Intrinsic Calculation For Chemtrade Logistics Income Fund (TSE:CHE.UN) Shows Investors Are Overpaying

by taking the expected future cash flows and discounting them to today's value. … Discounted Cash Flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Chemtrade Logistics Income Fund (TSE:CHE.UN): Can It Deliver A Superior ROE To The Industry?

and looking to gauge the potential return on investment in Chemtrade Logistics Income Fund (TSE:CHE.UN). … Chemtrade Logistics Income Fund (TSE:CHE.UN) performed in line with its commodity chemicals industry on the basis of its ROE – producing a return of 7.39% relative to the peer average of 8.83% over the past 12 months. … But what is more interesting is whether CHE.UN can sustain or improve on this level of return

Simply Wall St -

What Is Driving Chemtrade Logistics Income Fund's (TSE:CHE.UN) Margins In The Next Few Years?

Chemtrade Logistics Income Fund's (TSE:CHE.UN) … worrying earnings sentiment … drives analysts to expect

Simply Wall St -

Only 3 Days Left Before Chemtrade Logistics Income Fund (TSE:CHE.UN) Will Start Trading Ex-Dividend, Should Investors Buy?

Below, I will explain how holding Chemtrade Logistics Income Fund can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … See our latest analysis for Chemtrade Logistics Income Fund 5 questions I ask before picking a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is its annual yield among the top 25% of dividend-paying companies? … TSX:CHE.UN Historical Dividend Yield Apr 23rd 18 Does Chemtrade Logistics Income Fund pass our checks?

Simply Wall St -

Chemtrade Logistics Income Fund (TSE:CHE.UN): Time For A Financial Health Check

How does CHE.UN’s operating cash flow stack up against its debt? … Moreover, CHE.UN has produced CA$151.30M in operating cash flow over the same time period, resulting in an operating cash to total debt ratio of 11.74%, meaning that CHE.UN’s current level of operating cash is not high enough to cover debt. … In CHE.UN's, case, the ratio of 1.04x suggests that interest is not strongly covered, which means that lenders may refuse to lend the company more money, as it is seen as too risky in terms of default.Next Steps: CHE.UN’s cash flow coverage indicates it could improve its operating efficiency in order to meet demand for debt repayments should unforeseen events arise.

Simply Wall St -

Should You Buy Chemtrade Logistics Income Fund (TSE:CHE.UN) For Its Dividend?

Over the past 10 years, Chemtrade Logistics Income Fund (TSX:CHE.UN) has returned an average of 8.00% per year to shareholders in terms of dividend yield. … Check out our latest analysis for Chemtrade Logistics Income Fund Here's how I find good dividend stocks Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Is their annual yield among the top 25% of dividend payers? … In terms of its peers, Chemtrade Logistics Income Fund produces a yield of 7.40%, which is high for Chemicals stocks.Next Steps: Whilst there are few things you may like about Chemtrade Logistics Income Fund from a dividend stock perspective, the truth is that overall it probably is not the best choice for a dividend investor.

Simply Wall St -

3 Days Left To Cash In On Chemtrade Logistics Income Fund (TSE:CHE.UN) Dividend, Is It Worth Buying?

Check out our latest analysis for Chemtrade Logistics Income Fund How I analyze a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Is its annual yield among the top 25% of dividend-paying companies? … TSX:CHE.UN Historical Dividend Yield Feb 23rd 18 Does Chemtrade Logistics Income Fund pass our checks? … Next Steps: Taking all the above into account, Chemtrade Logistics Income Fund is a complicated pick for dividend investors given that there are a couple of positive things about it as well as negative.

Simply Wall St -

Company Info

Description

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 Solutions & Specialty Chemicals (WSSC), and Electrochemicals (EC) segments. The SPPC segment removes and/or produces merchant, regenerated, and ultra pure sulphuric acid, sodium hydrosulphite, elemental sulphur, liquid sulphur dioxide, hydrogen sulphide, sodium bisulphite, and sulphides. This segment also offers industrial services, such as processing by-products and waste streams. Its WSSC segment manufactures and markets various inorganic coagulants used in water treatment, including aluminum sulphate, aluminum chlorohydrate, polyaluminum chloride, and ferric sulphate; and a range of specialty chemicals, such as sodium nitrite, potassium chloride, phosphorus pentasulphide, and vaccine adjuvants. The EC segment manufactures and markets sodium chlorate and chlor-alkali products for the pulp and paper, oil and gas, and water treatment industries. Chemtrade Logistics Income Fund was founded in 2001 and is headquartered in Toronto, Canada.

Details
Name: Chemtrade Logistics Income Fund
CHE.UN
Exchange: TSX
Founded: 2001
CA$889,847,560
92,596,000
Website: http://www.chemtradelogistics.com
Address: Chemtrade Logistics Income Fund
155 Gordon Baker Road,
Suite 300,
Toronto,
Ontario, M2H 3N5,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX CHE.UN Units The Toronto Stock Exchange CA CAD 18. Jul 2001
OTCPK CGIF.F Units Pink Sheets LLC US USD 18. Jul 2001
Number of employees
Current staff
Staff numbers
1,525
Chemtrade Logistics Income Fund employees.
Industry
Commodity Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/19 23:34
End of day share price update: 2019/03/19 00:00
Last estimates confirmation: 2019/02/15
Last earnings filing: 2019/02/13
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.