Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €149, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 16x in the Trade Distributors industry in Europe. Total returns to shareholders of 120% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €130 per share. Announcement • Jun 18
Toromont Industries Ltd. to Report Q2, 2026 Results on Jul 29, 2026 Toromont Industries Ltd. announced that they will report Q2, 2026 results on Jul 29, 2026 Declared Dividend • May 20
First quarter dividend of CA$0.56 announced Shareholders will receive a dividend of CA$0.56. Ex-date: 5th June 2026 Payment date: 2nd July 2026 Dividend yield will be 1.1%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 30
Toromont Industries Ltd. announces Quarterly dividend, payable on July 02, 2026 Toromont Industries Ltd. announced Quarterly dividend of CAD 0.5600 per share payable on July 02, 2026, ex-date on June 05, 2026 and record date on June 05, 2026. Announcement • Apr 17
Toromont Industries Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Toromont Industries Ltd. announced that they will report Q1, 2026 results After-Market on Apr 28, 2026 Announcement • Feb 25
Toromont Industries Ltd., Annual General Meeting, Apr 29, 2026 Toromont Industries Ltd., Annual General Meeting, Apr 29, 2026. Announcement • Feb 11
Toromont Industries Ltd. Announces Regular Quarterly Dividend, Payable on April 2, 2026 Toromont Industries Ltd. announced that the Board of Directors increased the regular quarterly dividend by four cents per share (7.7%) to 56 cents per share. The dividend will be payable on April 2, 2026 to shareholders of record at the close of business on March 6, 2026. Announcement • Jan 28
Toromont Industries Ltd. to Report Q4, 2025 Results on Feb 10, 2026 Toromont Industries Ltd. announced that they will report Q4, 2025 results After-Market on Feb 10, 2026 Announcement • Oct 31
Toromont Industries Ltd. Approves Regular Quarterly Dividend, Payable on January 5, 2026 Toromont Industries Ltd. Board of Directors approved the regular quarterly dividend of $0.52 cents per share. The dividend will be payable on January 5, 2026 to shareholders of record at the close of business on December 5, 2025. Announcement • Oct 17
Toromont Industries Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Toromont Industries Ltd. announced that they will report Q3, 2025 results After-Market on Oct 30, 2025 Announcement • Jul 30
Toromont Industries Ltd. Approves Quarterly Dividend, Payable on October 3, 2025 Toromont Industries Ltd. announced Board of Directors approved the regular quarterly dividend of $0.52 cents per share, payable on October 3, 2025 to shareholders on record on September 5, 2025. Announcement • Jul 16
Toromont Industries Ltd. to Report Q2, 2025 Results on Jul 29, 2025 Toromont Industries Ltd. announced that they will report Q2, 2025 results After-Market on Jul 29, 2025 Announcement • May 02
Toromont Industries Ltd. Declares Quarter Dividend, Payable on July 3, 2025 The Board of Directors of Toromont Industries Ltd. approved the regular quarterly dividend of $0.52 cents per share, payable on July 3, 2025 to shareholders on record on June 6, 2025. Announcement • Apr 17
Toromont Industries Ltd. to Report Q1, 2025 Results on Apr 30, 2025 Toromont Industries Ltd. announced that they will report Q1, 2025 results After-Market on Apr 30, 2025 Announcement • Mar 28
Toromont Industries Ltd. announced that it expects to receive CAD 300 million in funding Toromont Industries Ltd. announced a private placement of 3.76% senior unsecured notes due 2030 for an aggregate principal amount of CAD 300 million on March 26, 2025. The Notes will be unsecured, unsubordinated obligations of Toromont and will rank pari passu with its other unsecured, unsubordinated debt. The notes will carry a coupon of 3.76% and will mature in 2030. The notes may not be offered or sold in the United States except in certain transactions exempt from the registration requirements under applicable U.S. securities laws. The Notes have not been qualified for sale to the public under such securities laws. The transaction is expected to close on March 28, 2025, subject to customary closing conditions. Announcement • Feb 18
Toromont Industries Ltd., Annual General Meeting, May 01, 2025 Toromont Industries Ltd., Annual General Meeting, May 01, 2025. Announcement • Feb 12
Toromont Industries Ltd. Increases Quarterly Dividend, Payable on April 4, 2025 Toromont Industries Ltd.'s Board of Directors increased the quarterly dividend by four cents per share (8.3%) to 52 cents per share. The next dividend is payable on April 4, 2025 to shareholders on record on March 7, 2025. Announcement • Feb 04
Toromont Industries Ltd. (TSX:TIH) acquired 60% stake in Avl Manufacturing Inc. Toromont Industries Ltd. (TSX:TIH) acquired 60% stake in Avl Manufacturing Inc. on February 3, 2025. The purchase price for the transaction will be paid in a combination of cash (using available funds) and shares of Toromont. The transaction is subject to customary post-closing adjustments. Additionally, Toromont has committed to purchasing the remaining 40% ownership at agreed upon dates through to 2031 based upon underlying business performance. AVL Manufacturing will continue to operate as it does today, under the leadership of Vince DiCristofaro, President of AV.
Toromont Industries Ltd. (TSX:TIH) completed the acquisition of 60% stake in Avl Manufacturing Inc. on February 3, 2025. Announcement • Jan 29
Toromont Industries Ltd. to Report Q4, 2024 Results on Feb 11, 2025 Toromont Industries Ltd. announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Feb 11, 2025 Declared Dividend • Nov 12
Third quarter dividend of CA$0.48 announced Shareholders will receive a dividend of CA$0.48. Ex-date: 6th December 2024 Payment date: 6th January 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but not adequately covered by cash flows (99% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 13% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 06
Third quarter 2024 earnings released: EPS: CA$1.60 (vs CA$1.77 in 3Q 2023) Third quarter 2024 results: EPS: CA$1.60 (down from CA$1.77 in 3Q 2023). Revenue: CA$1.34b (up 14% from 3Q 2023). Net income: CA$131.0m (down 10% from 3Q 2023). Profit margin: 9.8% (down from 12% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Nov 05
Toromont Industries Ltd. Announces Regular Quarterly Dividend, Payable on January 6, 2025 Toromont Industries Ltd. approved the regular quarterly dividend of $0.48 cents per share, payable on January 6, 2025 to shareholders on record on December 6, 2024. Announcement • Oct 22
Toromont Industries Ltd. to Report Q3, 2024 Results on Nov 04, 2024 Toromont Industries Ltd. announced that they will report Q3, 2024 results After-Market on Nov 04, 2024 New Risk • Sep 18
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €699k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Upcoming Dividend • Aug 30
Upcoming dividend of CA$0.48 per share Eligible shareholders must have bought the stock before 06 September 2024. Payment date: 02 October 2024. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (2.1%). Declared Dividend • Aug 05
Second quarter dividend of CA$0.48 announced Shareholders will receive a dividend of CA$0.48. Ex-date: 6th September 2024 Payment date: 2nd October 2024 Dividend yield will be 1.7%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (29% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 31
Second quarter 2024 earnings released: EPS: CA$1.65 (vs CA$1.62 in 2Q 2023) Second quarter 2024 results: EPS: CA$1.65 (up from CA$1.62 in 2Q 2023). Revenue: CA$1.36b (up 16% from 2Q 2023). Net income: CA$135.4m (up 1.5% from 2Q 2023). Profit margin: 10.0% (down from 11% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Jul 31
Toromont Industries Ltd. Approves a Quarterly Dividend, Payable on October 2, 2024 The Board of Directors of Toromont Industries Ltd. approved a quarterly dividend of $0.48 cents per share, payable on October 2, 2024 to shareholders on record on September 6, 2024. Announcement • Jul 17
Toromont Industries Ltd. to Report Q2, 2024 Results on Jul 30, 2024 Toromont Industries Ltd. announced that they will report Q2, 2024 results After-Market on Jul 30, 2024 Upcoming Dividend • May 31
Upcoming dividend of CA$0.48 per share Eligible shareholders must have bought the stock before 07 June 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (2.2%). Declared Dividend • May 06
First quarter dividend of CA$0.48 announced Shareholders will receive a dividend of CA$0.48. Ex-date: 7th June 2024 Payment date: 5th July 2024 Dividend yield will be 1.7%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 02
First quarter 2024 earnings released: EPS: CA$1.02 (vs CA$1.17 in 1Q 2023) First quarter 2024 results: EPS: CA$1.02 (down from CA$1.17 in 1Q 2023). Revenue: CA$1.02b (down 2.9% from 1Q 2023). Net income: CA$83.9m (down 13% from 1Q 2023). Profit margin: 8.3% (down from 9.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • May 02
Toromont Industries Ltd. Approves Quarterly Dividend, Payable on July 5, 2024 The board of directors of Toromont Industries Ltd. approved a quarterly dividend of $0.48 cents per share, payable on July 5, 2024 to shareholders on record on June 7, 2024. Announcement • Apr 06
Toromont Industries Ltd. to Report Q1, 2024 Results on May 01, 2024 Toromont Industries Ltd. announced that they will report Q1, 2024 results After-Market on May 01, 2024 Buy Or Sell Opportunity • Apr 04
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to €89.50. The fair value is estimated to be €73.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 8.4% in 2 years. Earnings are forecast to grow by 11% in the next 2 years. Buy Or Sell Opportunity • Mar 19
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to €88.00. The fair value is estimated to be €73.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 8.4% in 2 years. Earnings are forecast to grow by 11% in the next 2 years. Upcoming Dividend • Feb 29
Upcoming dividend of CA$0.48 per share Eligible shareholders must have bought the stock before 07 March 2024. Payment date: 04 April 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (2.6%). Declared Dividend • Feb 19
Fourth quarter dividend of CA$0.48 announced Shareholders will receive a dividend of CA$0.48. Ex-date: 7th March 2024 Payment date: 4th April 2024 Dividend yield will be 1.6%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (27% earnings payout ratio) and cash flows (65% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 9.0% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 14
Full year 2023 earnings released: EPS: CA$6.43 (vs CA$5.52 in FY 2022) Full year 2023 results: EPS: CA$6.43 (up from CA$5.52 in FY 2022). Revenue: CA$4.62b (up 9.3% from FY 2022). Net income: CA$529.1m (up 17% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Feb 14
Toromont Increases Quarterly Dividend, Payable on April 4, 2024 Considering the Company's strong financial position and long-term outlook, the Board of Directors of Toromont Industries Ltd. increased the quarterly dividend by 11.6% to 48 cents per share. The next dividend is payable on April 4, 2024 to shareholders on record on March 8, 2024. Announcement • Feb 13
Toromont Industries Ltd., Annual General Meeting, May 02, 2024 Toromont Industries Ltd., Annual General Meeting, May 02, 2024. Announcement • Jan 31
Toromont Industries Ltd. to Report Q4, 2023 Results on Feb 13, 2024 Toromont Industries Ltd. announced that they will report Q4, 2023 results After-Market on Feb 13, 2024 Buy Or Sell Opportunity • Jan 24
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to €79.00. The fair value is estimated to be €65.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 5.5% in 2 years. Earnings are forecast to grow by 2.7% in the next 2 years. Upcoming Dividend • Nov 30
Upcoming dividend of CA$0.43 per share at 1.6% yield Eligible shareholders must have bought the stock before 07 December 2023. Payment date: 04 January 2024. Payout ratio is a comfortable 26% but the company is paying out more than the cash it is generating. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (2.8%). Reported Earnings • Oct 31
Third quarter 2023 earnings released: EPS: CA$1.77 (vs CA$1.50 in 3Q 2022) Third quarter 2023 results: EPS: CA$1.77 (up from CA$1.50 in 3Q 2022). Revenue: CA$1.17b (up 3.0% from 3Q 2022). Net income: CA$145.6m (up 18% from 3Q 2022). Profit margin: 12% (up from 11% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Oct 31
Toromont Industries Ltd. Approves A Quarterly Dividend, Payable on January 4, 2024 The Board of Directors of Toromont Industries Ltd. approved a quarterly dividend of $0.43 cents per share, payable on January 4, 2024 to shareholders on record on December 8, 2023. Announcement • Oct 17
Toromont Industries Ltd. to Report Q3, 2023 Results on Oct 30, 2023 Toromont Industries Ltd. announced that they will report Q3, 2023 results After-Market on Oct 30, 2023 Announcement • Sep 24
Toromont Industries Ltd. Announces the Appointment of John Doolittle as Chief Financial Officer Toromont Industries Ltd. announced the appointment of John Doolittle as Chief Financial Officer. Mr. Doolittle is a highly accomplished financial executive, bringing a wealth of financial, capital markets and leadership experience. He has served as Chief Financial Officer at a number of public and private companies including Open Text and Mattamy Homes. Upcoming Dividend • Aug 31
Upcoming dividend of CA$0.43 per share at 1.6% yield Eligible shareholders must have bought the stock before 07 September 2023. Payment date: 04 October 2023. Payout ratio is a comfortable 26% but the company is paying out more than the cash it is generating. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (2.8%). New Risk • Jul 31
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 0.08% per year for the foreseeable future. High level of non-cash earnings (21% accrual ratio). Minor Risk Dividend is not well covered by cash flows (275% cash payout ratio). Announcement • Jul 27
Toromont Industries Ltd. Approves Quarterly Dividend, Payable on October 4, 2023 Toromont Industries Ltd. Board of Directors approved a quarterly dividend of $0.43 cents per share, payable on October 4, 2023 to shareholders on record on September 8, 2023. Reported Earnings • Jul 27
Second quarter 2023 earnings released: EPS: CA$1.62 (vs CA$1.36 in 2Q 2022) Second quarter 2023 results: EPS: CA$1.62 (up from CA$1.36 in 2Q 2022). Revenue: CA$1.17b (up 8.7% from 2Q 2022). Net income: CA$133.3m (up 19% from 2Q 2022). Profit margin: 11% (up from 10% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Jul 14
Toromont Industries Ltd. to Report Q2, 2023 Results on Jul 26, 2023 Toromont Industries Ltd. announced that they will report Q2, 2023 results After-Market on Jul 26, 2023 Upcoming Dividend • Jun 01
Upcoming dividend of CA$0.43 per share at 1.6% yield Eligible shareholders must have bought the stock before 08 June 2023. Payment date: 05 July 2023. Payout ratio is a comfortable 27% but the company is paying out more than the cash it is generating. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (2.7%). Reported Earnings • Apr 30
First quarter 2023 earnings released: EPS: CA$1.17 (vs CA$0.72 in 1Q 2022) First quarter 2023 results: EPS: CA$1.17 (up from CA$0.72 in 1Q 2022). Revenue: CA$1.06b (up 23% from 1Q 2022). Net income: CA$96.0m (up 61% from 1Q 2022). Profit margin: 9.0% (up from 6.9% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 19% per year. Recent Insider Transactions • Mar 16
President of CIMCO Refrigeration recently sold €447k worth of stock On the 8th of March, David Malinauskas sold around 6k shares on-market at roughly €77.15 per share. This transaction amounted to 41% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.2m more than they bought in the last 12 months. Upcoming Dividend • Mar 01
Upcoming dividend of CA$0.43 per share at 1.5% yield Eligible shareholders must have bought the stock before 08 March 2023. Payment date: 04 April 2023. Payout ratio is a comfortable 28% and the cash payout ratio is 85%. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.5%). Announcement • Feb 18
Toromont Industries Ltd., Annual General Meeting, Apr 28, 2023 Toromont Industries Ltd., Annual General Meeting, Apr 28, 2023. Reported Earnings • Feb 16
Full year 2022 earnings released: EPS: CA$5.52 (vs CA$4.03 in FY 2021) Full year 2022 results: EPS: CA$5.52 (up from CA$4.03 in FY 2021). Revenue: CA$4.23b (up 8.9% from FY 2021). Net income: CA$454.2m (up 37% from FY 2021). Profit margin: 11% (up from 8.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 14% per year. Announcement • Feb 15
Toromont Industries Ltd. Announces Quarterly Dividend, Payable on April 4, 2023 The Board of Directors of Toromont Industries Ltd. increased the quarterly dividend by 10.3% to 43 cents per share. The next dividend is payable on April 4, 2023 to shareholders on record on March 9, 2023. Upcoming Dividend • Nov 30
Upcoming dividend of CA$0.39 per share Eligible shareholders must have bought the stock before 07 December 2022. Payment date: 05 January 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (2.9%). Reported Earnings • Nov 03
Third quarter 2022 earnings released: EPS: CA$1.50 (vs CA$1.13 in 3Q 2021) Third quarter 2022 results: EPS: CA$1.50 (up from CA$1.13 in 3Q 2021). Revenue: CA$1.14b (up 14% from 3Q 2021). Net income: CA$123.1m (up 31% from 3Q 2021). Profit margin: 11% (up from 9.4% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 02
Toromont Industries Ltd. Approves Quarterly Dividend, Payable on January 5, 2023 Toromont Industries Ltd. Board of Directors approved a quarterly dividend of $0.39 cents per share, payable on January 5, 2023 to shareholders on record on December 8, 2022. Buying Opportunity • Oct 22
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be €91.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.5% over the last 3 years. Earnings per share has grown by 9.1%. Revenue is forecast to grow by 9.4% in a year. Earnings is forecast to grow by 8.0% in the next year. Upcoming Dividend • Aug 31
Upcoming dividend of CA$0.39 per share Eligible shareholders must have bought the stock before 07 September 2022. Payment date: 04 October 2022. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.7%). Buying Opportunity • Jul 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be €99.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.5% over the last 3 years. Earnings per share has grown by 9.1%. Revenue is forecast to grow by 9.4% in a year. Earnings is forecast to grow by 8.0% in the next year. Announcement • Jul 28
Toromont Industries Ltd. Approves Dividend Second Quarter Ended June 30, 2022, Payable on October 4, 2022 The Board of Directors of Toromont Industries Ltd. approved a quarterly dividend of $0.39 cents per share second quarter ended June 30, 2022, payable on October 4, 2022 to shareholders on record on September 8, 2022. Reported Earnings • Jul 27
Second quarter 2022 earnings released: EPS: CA$1.36 (vs CA$1.03 in 2Q 2021) Second quarter 2022 results: EPS: CA$1.36 (up from CA$1.03 in 2Q 2021). Revenue: CA$1.08b (down 4.1% from 2Q 2021). Net income: CA$111.7m (up 31% from 2Q 2021). Profit margin: 10% (up from 7.6% in 2Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 12%, compared to a 10% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 01
Upcoming dividend of CA$0.39 per share Eligible shareholders must have bought the stock before 08 June 2022. Payment date: 05 July 2022. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (2.5%). Announcement • May 06
Toromont Industries Ltd. Appoints Joel Couture as Chief Operating Officer, Effectively July 1, 2022 Toromont Industries Ltd. announced the appointment of Joel Couture to the newly created position of Chief Operating Officer, Toromont Cat, effective July 1, 2022. In his new role, Joel will oversee all Toromont Cat divisions, bringing a strong focus to operational excellence, consistent customer value propositions and advancing transformational initiatives through new data driven technologies and aftermarket strategies. Joel joined Toromont Cat in 2007 starting as a management trainee. He quickly progressed through the organization in both corporate and operational capacities. Most recently, Joel held the position of the Vice President, Product Support for Toromont Cat. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: CA$0.72 (vs CA$0.58 in 1Q 2021) First quarter 2022 results: EPS: CA$0.72 (up from CA$0.58 in 1Q 2021). Revenue: CA$860.1m (up 6.7% from 1Q 2021). Net income: CA$59.5m (up 24% from 1Q 2021). Profit margin: 6.9% (up from 5.9% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 8.6%, compared to a 9.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 28
Toromont Industries Ltd. Approves Quarterly Dividend, Payable on July 5, 2022 The Board of Directors of Toromont Industries Ltd. approved a quarterly dividend of CAD 0.39 cents per share, payable on July 5, 2022 to shareholders on record on June 9, 2022. Announcement • Apr 14
Toromont Industries Ltd. to Report Q1, 2022 Results on Apr 27, 2022 Toromont Industries Ltd. announced that they will report Q1, 2022 results After-Market on Apr 27, 2022 Recent Insider Transactions • Mar 24
Independent Director recently sold €211k worth of stock On the 18th of March, Wayne Hill sold around 3k shares on-market at roughly €84.49 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €3.0m more than they bought in the last 12 months. Upcoming Dividend • Mar 01
Upcoming dividend of CA$0.39 per share Eligible shareholders must have bought the stock before 08 March 2022. Payment date: 04 April 2022. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (3.4%). Lower than average of industry peers (1.8%). Announcement • Feb 17
Toromont Industries Ltd., Annual General Meeting, Apr 28, 2022 Toromont Industries Ltd., Annual General Meeting, Apr 28, 2022. Reported Earnings • Feb 11
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: CA$4.03 (up from CA$3.10 in FY 2020). Revenue: CA$3.89b (up 12% from FY 2020). Net income: CA$332.7m (up 31% from FY 2020). Profit margin: 8.6% (up from 7.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.8%. Over the next year, revenue is forecast to grow 7.7%, compared to a 8.6% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 10
Toromont Industries Ltd. Announces Quarterly Dividend, Payable on April 4, 2022 Toromont Industries Ltd. announced that the Board of Directors increased the quarterly dividend by 11.4% to 39 cents per share. The next dividend is payable on April 4, 2022 to shareholders on record on March 9, 2022. Recent Insider Transactions • Dec 25
Independent Director recently sold €77k worth of stock On the 21st of December, Wayne Hill sold around 1k shares on-market at roughly €77.22 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €3.4m more than they bought in the last 12 months. Upcoming Dividend • Dec 01
Upcoming dividend of CA$0.35 per share Eligible shareholders must have bought the stock before 07 December 2021. Payment date: 05 January 2022. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (3.4%). In line with average of industry peers (1.3%). Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS CA$1.13 (vs CA$0.94 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CA$997.2m (up 8.2% from 3Q 2020). Net income: CA$93.8m (up 21% from 3Q 2020). Profit margin: 9.4% (up from 8.4% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 31
Upcoming dividend of CA$0.35 per share Eligible shareholders must have bought the stock before 07 September 2021. Payment date: 04 October 2021. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (3.1%). In line with average of industry peers (1.2%). Recent Insider Transactions • Aug 22
Lead Independent Director recently sold €364k worth of stock On the 19th of August, Jeffrey Chisholm sold around 5k shares on-market at roughly €72.89 per share. In the last 3 months, there was an even bigger sale from another insider worth €1.5m. Insiders have been net sellers, collectively disposing of €15m more than they bought in the last 12 months. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS CA$1.03 (vs CA$0.62 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$1.13b (up 33% from 2Q 2020). Net income: CA$85.4m (up 67% from 2Q 2020). Profit margin: 7.6% (up from 6.0% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Executive Departure • Jul 16
Independent Chairman Robert Ogilvie has left the company On the 15th of July, Robert Ogilvie's tenure as Independent Chairman ended after 8.3 years in the role. As of March 2021, Robert still personally held 1.34m shares (€86m worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 5.00 years. Upcoming Dividend • Jun 01
Upcoming dividend of CA$0.35 per share Eligible shareholders must have bought the stock before 08 June 2021. Payment date: 05 July 2021. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (3.2%). In line with average of industry peers (1.3%). Recent Insider Transactions • May 29
CEO, President & Director recently sold €821k worth of stock On the 25th of May, Scott Medhurst sold around 11k shares on-market at roughly €72.48 per share. This was the largest sale by an insider in the last 3 months. Scott has been a seller over the last 12 months, reducing personal holdings by €1.3m. Reported Earnings • May 06
First quarter 2021 earnings released: EPS CA$0.58 (vs CA$0.46 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CA$806.2m (up 13% from 1Q 2020). Net income: CA$48.0m (up 28% from 1Q 2020). Profit margin: 5.9% (up from 5.2% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 05
Toromont Industries Ltd. Announces Quarterly Dividend, Payable on July 5, 2021 The Board of Directors of Toromont Industries Ltd. increased the quarterly dividend by 12.9% or 4 cents per share, to 35 cents per common share. The next dividend is payable on July 5, 2021 to shareholders on record on June 9, 2021. Recent Insider Transactions • Mar 09
Independent Director recently sold €609k worth of stock On the 1st of March, Wayne Hill sold around 10k shares on-market at roughly €60.88 per share. In the last 3 months, there was an even bigger sale from another insider worth €3.3m. Insiders have been net sellers, collectively disposing of €40m more than they bought in the last 12 months. Upcoming Dividend • Mar 01
Upcoming Dividend of CA$0.31 Per Share Will be paid on the 1st of April to those who are registered shareholders by the 8th of March. The trailing yield of 1.3% is below the top quartile of German dividend payers (3.4%), and is lower than industry peers (1.6%). Announcement • Feb 20
Toromont Industries Ltd., Annual General Meeting, May 05, 2021 Toromont Industries Ltd., Annual General Meeting, May 05, 2021. 
