TSX:TFII

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

TFI International Inc. provides transportation and logistics services in the United States, Canada, and Mexico. More Details


Snowflake Analysis

Good value average dividend payer.


Similar Companies

Share Price & News

How has TFI International's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TFII is not significantly more volatile than the rest of Canadian stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: TFII's weekly volatility (10%) has been stable over the past year.


Market Performance


7 Day Return

-1.8%

TFII

-1.9%

CA Transportation

-0.3%

CA Market


1 Year Return

105.2%

TFII

27.5%

CA Transportation

8.4%

CA Market

Return vs Industry: TFII exceeded the Canadian Transportation industry which returned 27.5% over the past year.

Return vs Market: TFII exceeded the Canadian Market which returned 8.4% over the past year.


Shareholder returns

TFIIIndustryMarket
7 Day-1.8%-1.9%-0.3%
30 Day40.6%5.2%3.3%
90 Day38.0%3.1%8.4%
1 Year110.1%105.2%29.5%27.5%12.4%8.4%
3 Year201.2%180.7%63.3%55.7%23.6%11.8%
5 Year387.7%331.2%122.8%105.6%62.2%37.6%

Long-Term Price Volatility Vs. Market

How volatile is TFI International's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is TFI International undervalued compared to its fair value and its price relative to the market?

33.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TFII (CA$91.5) is trading below our estimate of fair value (CA$137.43)

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


Price To Earnings Ratio

PE vs Industry: TFII is good value based on its PE Ratio (23.5x) compared to the CA Transportation industry average (25.4x).

PE vs Market: TFII is poor value based on its PE Ratio (23.5x) compared to the Canadian market (17.2x).


Price to Earnings Growth Ratio

PEG Ratio: TFII is poor value based on its PEG Ratio (1.2x)


Price to Book Ratio

PB vs Industry: TFII is good value based on its PB Ratio (3.8x) compared to the CA Transportation industry average (4.4x).


Next Steps

Future Growth

How is TFI International forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

19.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TFII's forecast earnings growth (19% per year) is above the savings rate (1.5%).

Earnings vs Market: TFII's earnings (19% per year) are forecast to grow slower than the Canadian market (25.8% per year).

High Growth Earnings: TFII's earnings are forecast to grow, but not significantly.

Revenue vs Market: TFII's revenue (17.8% per year) is forecast to grow faster than the Canadian market (8.3% per year).

High Growth Revenue: TFII's revenue (17.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TFII's Return on Equity is forecast to be high in 3 years time (22.1%)


Next Steps

Past Performance

How has TFI International performed over the past 5 years?

22.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TFII has a large one-off gain of $76.5M impacting its December 31 2020 financial results.

Growing Profit Margin: TFII's current net profit margins (7.3%) are higher than last year (6.3%).


Past Earnings Growth Analysis

Earnings Trend: TFII's earnings have grown significantly by 22.9% per year over the past 5 years.

Accelerating Growth: TFII's earnings growth over the past year (12.9%) is below its 5-year average (22.9% per year).

Earnings vs Industry: TFII earnings growth over the past year (12.9%) exceeded the Transportation industry 0.2%.


Return on Equity

High ROE: TFII's Return on Equity (15.4%) is considered low.


Next Steps

Financial Health

How is TFI International's financial position?


Financial Position Analysis

Short Term Liabilities: TFII's short term assets ($652.8M) do not cover its short term liabilities ($654.5M).

Long Term Liabilities: TFII's short term assets ($652.8M) do not cover its long term liabilities ($1.4B).


Debt to Equity History and Analysis

Debt Level: TFII's debt to equity ratio (48.7%) is considered high.

Reducing Debt: TFII's debt to equity ratio has reduced from 154.3% to 48.7% over the past 5 years.

Debt Coverage: TFII's debt is well covered by operating cash flow (70%).

Interest Coverage: TFII's interest payments on its debt are well covered by EBIT (7.3x coverage).


Balance Sheet


Next Steps

Dividend

What is TFI International current dividend yield, its reliability and sustainability?

1.23%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TFII's dividend (1.24%) isn’t notable compared to the bottom 25% of dividend payers in the Canadian market (1.56%).

High Dividend: TFII's dividend (1.24%) is low compared to the top 25% of dividend payers in the Canadian market (5.01%).


Stability and Growth of Payments

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

Growing Dividend: TFII's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (25.9%), TFII's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TFII's dividends in 3 years are forecast to be well covered by earnings (21.3% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.8yrs

Average management tenure


CEO

Alain Bedard (67 yo)

25.08yrs

Tenure

US$8,350,061

Compensation

Mr. Alain Bedard, F.C.A., FCPA, CMA, serves as the President of 2400520 Ontario Inc. He serves as President and Chief Executive Officer of TFI International Inc. since 2007 and 1996 respectively. Mr. Bédar...


CEO Compensation Analysis

Compensation vs Market: Alain's total compensation ($USD8.35M) is above average for companies of similar size in the Canadian market ($USD3.57M).

Compensation vs Earnings: Alain's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Alain Bedard
President25.08yrsUS$8.35m4.7%
$ 401.2m
David Saperstein
Chief Financial Officer2.08yrsUS$812.83k0.0051%
$ 438.8k
Brian Kohut
Executive Vice President9.75yrsUS$1.04mno data
Steven Brookshaw
Executive Vice President3.08yrsUS$812.92kno data
Gregory Orr
Executive Vice President of U.S. Truckload2.17yrsUS$1.04mno data
Chantal Martel
Vice President of Insurance & Complianceno datano datano data
Johanne Dean
Vice President of Marketing & Communicationsno datano datano data
Sylvain Desaulniers
Vice President of Human Resourcesno datano datano data
Robert McGonigal
Executive Vice President5.08yrsUS$620.05kno data
Louis Gagnon
Executive Vice-President5.08yrsno datano data
Ping Yan
Senior Vice President of Operations0.75yrno datano data
Rick Hashie
Executive Vice President3.83yrsUS$624.36kno data

3.8yrs

Average Tenure

Experienced Management: TFII's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Alain Bedard
President25.08yrsUS$8.35m4.7%
$ 401.2m
Debra Kelly-Ennis
Independent Director3.75yrsUS$105.28kno data
Andre Berard
Lead Independent Directorno dataUS$152.31k0.057%
$ 4.9m
Neil Manning
Independent Director7.83yrsUS$111.18k0.017%
$ 1.5m
Joey Saputo
Independent Director25.08yrsUS$107.44k0.21%
$ 18.1m
Lucien Bouchard
Independent Director13.17yrsUS$105.78kno data
Leslie Abi-Karam
Independent Director2.58yrsUS$103.66kno data
Diane Giard
Independent Director2.33yrsUS$105.32k0.0053%
$ 456.7k
Richard Guay
Independent Director17.08yrsUS$122.47k0.0088%
$ 749.5k
William England
Independent Director0.33yrno datano data

7.8yrs

Average Tenure

67yo

Average Age

Experienced Board: TFII's board of directors are considered experienced (7.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: TFII insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.7%.


Top Shareholders

Company Information

TFI International Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: TFI International Inc.
  • Ticker: TFII
  • Exchange: TSX
  • Founded: NaN
  • Industry: Trucking
  • Sector: Transportation
  • Market Cap: CA$8.536b
  • Shares outstanding: 93.41m
  • Website: https://www.tfiintl.com

Number of Employees


Location

  • TFI International Inc.
  • 8801 Trans-Canada Highway
  • Suite 500
  • Saint-Laurent
  • Quebec
  • H4S 1Z6
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TFIITSX (The Toronto Stock Exchange)YesNew Common SharesCACADNov 1990
9TFDB (Deutsche Boerse AG)YesNew Common SharesDEEURNov 1990
TFIINYSE (New York Stock Exchange)YesNew Common SharesUSUSDNov 1990
TFII NBMV (Bolsa Mexicana de Valores)YesNew Common SharesMXMXNNov 1990

Biography

TFI International Inc. provides transportation and logistics services in the United States, Canada, and Mexico. The company operates through Package and Courier, Less-Than-Truckload (LTL), Truckload (TL), ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/02/23 23:53
End of Day Share Price2021/02/23 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


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.