New Risk • May 26
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: US$3.4m 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. Currently, the following risks have been identified for the company: Minor Risks High level of debt (50% net debt to equity). Significant insider selling over the past 3 months (US$3.4m sold). Recent Insider Transactions • May 26
Executive VP & CFO recently sold US$3.0m worth of stock On the 22nd of May, Nadeem Velani sold around 35k shares on-market at roughly US$86.66 per share. This transaction amounted to 93% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Nadeem has been a net seller over the last 12 months, reducing personal holdings by US$30m. Declared Dividend • May 01
First quarter dividend of CA$0.27 announced Shareholders will receive a dividend of CA$0.27. Ex-date: 26th June 2026 Payment date: 27th July 2026 Dividend yield will be 0.9%, which is lower than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (40% 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 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 30
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: CA$0.94 (down from CA$0.97 in 1Q 2025). Revenue: CA$3.70b (down 2.5% from 1Q 2025). Net income: CA$846.0m (down 7.0% from 1Q 2025). Profit margin: 23% (down from 24% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 9.5%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 4% per year. Announcement • Apr 30
Canadian Pacific Kansas City Limited announces Quarterly dividend, payable on July 27, 2026 Canadian Pacific Kansas City Limited announced Quarterly dividend of CAD 0.2680 per share payable on July 27, 2026, ex-date on June 26, 2026 and record date on June 26, 2026. Announcement • Apr 01
Canadian Pacific Kansas City Limited to Report Q1, 2026 Results on Apr 29, 2026 Canadian Pacific Kansas City Limited announced that they will report Q1, 2026 results After-Market on Apr 29, 2026 Upcoming Dividend • Mar 20
Upcoming dividend of CA$0.23 per share Eligible shareholders must have bought the stock before 27 March 2026. Payment date: 27 April 2026. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (1.9%). Announcement • Mar 13
Canadian Pacific Kansas City Certifies 14 New Site Ready Rail-Served Industrial Development Locations Canadian Pacific Kansas City announced the certification of 14 new Site Ready rail-served industrial development locations, strategically positioned to accelerate North American commercial growth. These new sites across six U.S. states, three provinces in Canada and two states in Mexico, strengthen Canadian Pacific Kansas City's Room to Grow strategy, opening more than 6,600 acres of immediately developable land to prospective manufacturers, logistics operators and supply chain partners. As supply chains evolve and infrastructure demand increases, rail-served, shovel-ready locations are a competitive advantage. Canadian Pacific Kansas City's growing Site Ready roster of locations offers direct access to its tri-national network, empowering businesses to build or scale with speed and confidence, while reducing risk and operational lead time. Key features of Canadian Pacific Kansas City's Site Ready locations: Strategic Coverage: Located close to major markets, ports and distribution hubs for optimized logistics. Rapid Deployment: Sites are pre-certified for rail service. Full Lifecycle Support: Canadian Pacific Kansas City provides end-to-end expertise, from initial site selection to ongoing rail operations. Community & Economic Impact: Development drives local job creation, capital investment and lasting economic benefits. Certified in partnership with global engineering and construction leader Burns & McDonnell, these locations are tailored for versatility, scalability and long-term operational success. With 22 Site Ready locations now available across its unified Canada, U.S. and Mexico network, Canadian Pacific Kansas City is setting the standard for industrial site development and rail-enabled growth in North America. Reported Earnings • Mar 02
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: CA$4.52 (up from CA$3.99 in FY 2024). Revenue: CA$15.1b (up 3.7% from FY 2024). Net income: CA$4.14b (up 11% from FY 2024). Profit margin: 28% (up from 26% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.2%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 4% per year. Announcement • Feb 13
Canadian Pacific Kansas City Limited, Annual General Meeting, Apr 29, 2026 Canadian Pacific Kansas City Limited, Annual General Meeting, Apr 29, 2026. Recent Insider Transactions • Feb 04
Insider recently bought US$978k worth of stock On the 30th of January, Marc Parent bought around 13k shares on-market at roughly US$75.20 per share. This transaction increased Marc Parent's direct individual holding by 14x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold US$26m more in shares than they bought in the last 12 months. Declared Dividend • Feb 01
Fourth quarter dividend of CA$0.23 announced Shareholders will receive a dividend of CA$0.23. Ex-date: 27th March 2026 Payment date: 27th April 2026 Dividend yield will be 1.0%, which is lower than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (19% 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 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 29
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: CA$4.52 (up from CA$3.99 in FY 2024). Revenue: CA$15.1b (up 3.7% from FY 2024). Net income: CA$4.14b (up 11% from FY 2024). Profit margin: 28% (up from 26% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.2%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 1% per year. Announcement • Dec 29
Canadian Pacific Kansas City Limited to Report Q4, 2025 Results on Jan 28, 2026 Canadian Pacific Kansas City Limited announced that they will report Q4, 2025 results After-Market on Jan 28, 2026 Upcoming Dividend • Dec 24
Upcoming dividend of CA$0.23 per share Eligible shareholders must have bought the stock before 31 December 2025. Payment date: 26 January 2026. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (1.8%). Buy Or Sell Opportunity • Nov 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.1% to US$71.15. The fair value is estimated to be US$89.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 4.8%. For the next 3 years, revenue is forecast to grow by 6.0% per annum. Earnings are also forecast to grow by 6.8% per annum over the same time period. Declared Dividend • Nov 02
Third quarter dividend of CA$0.23 announced Shareholders will receive a dividend of CA$0.23. Ex-date: 31st December 2025 Payment date: 26th January 2026 Dividend yield will be 1.0%, which is lower than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (34% 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 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 30
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: CA$1.01 (up from CA$0.90 in 3Q 2024). Revenue: CA$3.66b (up 3.2% from 3Q 2024). Net income: CA$920.0m (up 9.9% from 3Q 2024). Profit margin: 25% (up from 24% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.5%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Oct 29
Canadian Pacific Kansas City Limited Declares Quarterly Dividend, Payable on January 26, 2026 The Board of Directors of Canadian Pacific Kansas City Limited declared a quarterly dividend of $0.228 per share on the outstanding Common Shares. The dividend is payable on January 26, 2026, to holders of record at the close of business on December 31, 2025, and is an "eligible" dividend for purposes of the Income Tax Act (Canada) and any similar provincial/territorial legislation. Announcement • Oct 01
Canadian Pacific Kansas City Limited to Report Q3, 2025 Results on Oct 29, 2025 Canadian Pacific Kansas City Limited announced that they will report Q3, 2025 results After-Market on Oct 29, 2025 Recent Insider Transactions • Sep 22
Executive VP & CFO recently sold US$27m worth of stock On the 19th of September, Nadeem Velani sold around 351k shares on-market at roughly US$77.23 per share. This transaction amounted to 99% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Nadeem's only on-market trade for the last 12 months. Upcoming Dividend • Sep 19
Upcoming dividend of CA$0.23 per share Eligible shareholders must have bought the stock before 26 September 2025. Payment date: 27 October 2025. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (1.9%). Announcement • Aug 28
CSX Railroad's Merger Prospects Derail as BNSF and CPKC Make Clear They Aren't Interested in A Deal The prospects for additional consolidation in the rail industry derailed this week when both of CSX (CSX Corporation (NasdaqGS:CSX))'s potential partners said they weren't interested in a deal. Investors widely speculated that CSX would be an acquisition target once rumors of merger talks between Union Pacific and Norfolk Southern emerged over the summer, because of the challenge of competing against a nationwide railroad. CSX's stock nearly hit a new 52-week high last week at $37.25 before falling to $32.31 26 August 2025 after it became clear that neither BNSF (BNSF Railway Company) nor Canadian Pacific Kansas City Limited (TSX:CP) railroads is pursuing the Jacksonville, Florida-based railroad, one of the six remaining major freight railroads in North America. The Union Pacific-Norfolk Southern deal still faces a lengthy review by the U.S. Surface Transportation Board that is likely to stretch on for at least two years. When Canadian Pacific acquired Kansas City Southern two years ago in the first major rail merger in more than two decades the board also spent two years reviewing that deal. If the $85 billion megamerger of Union Pacific and Norfolk Southern does get approved that might change the calculus about whether a deal makes sense. But in the meantime, CSX and the other major freight railroads seem focused on finding ways to cooperate more to improve service without merging. Just last week, CSX and BNSF announced an agreement to deliver some shipments seamlessly coast-to-coast without handing them off. Last month, CPKC and CSX announced a similar agreement to streamline shipments between Mexico, Texas and the Southeast. CPKC CEO Keith Creel said he thinks the industry should be more focused on agreements like that and efforts to improve service on each individual railroad. “We believe that a transcontinental merger would trigger permanent restructuring of the industry and result in a disproportionately large railway whose size and scope would require others to take action,” Creel said. “This will likely result in an unnecessary wave of railway mergers that today is not the best way to support American businesses nor the public interest, and has the potential to create more issues than it solves.” Indeed, the STB adopted a high standard for rail mergers in 2001 after a series of prolonged disruptions and delayed shipments that followed major deals in the 1990s. A merger between Union Pacific and Southern Pacific in 1996 led to an extended period of snarled traffic on U.S. rails. Three years later, Conrail was divvied up by Norfolk Southern and CSX, creating serious backups in the East. On 25 August 2025, Warren Buffett, whose Berkshire Hathaway conglomerate owns BNSF, said to CNBC that he's not interested in buying another railroad even though he's sitting on more than $344 billion in cash after several years without completing a major acquisition. Buffett and the man who will take over as Berkshire CEO in January, Greg Abel, did recently meet with CSX CEO Joe Hinrichs to discuss more ways to cooperate while making it clear that Berkshire won't be bidding on CSX. Declared Dividend • Aug 03
Second quarter dividend of CA$0.23 announced Shareholders will receive a dividend of CA$0.23. Ex-date: 26th September 2025 Payment date: 27th October 2025 Dividend yield will be 0.9%, which is lower than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (33% 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 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 31
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: EPS: CA$1.34 (up from CA$0.97 in 2Q 2024). Revenue: CA$3.70b (up 2.7% from 2Q 2024). Net income: CA$1.23b (up 36% from 2Q 2024). Profit margin: 33% (up from 25% in 2Q 2024). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) exceeded analyst estimates by 19%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jul 31
Canadian Pacific Kansas City Limited Declares Quarterly Dividend on Outstanding Common Shares, Payable on October 27, 2025 The Board of Directors of Canadian Pacific Kansas City Limited declared a quarterly dividend of CAD 0.228 per share on the outstanding Common Shares. The dividend is payable on October 27, 2025, to holders of record at the close of business on September 26, 2025. Announcement • Jul 03
Canadian Pacific Kansas City Limited to Report Q2, 2025 Results on Jul 30, 2025 Canadian Pacific Kansas City Limited announced that they will report Q2, 2025 results After-Market on Jul 30, 2025 Upcoming Dividend • Jun 20
Upcoming dividend of CA$0.23 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 28 July 2025. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (1.9%). Reported Earnings • May 01
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: EPS: CA$0.97 (up from CA$0.83 in 1Q 2024). Revenue: CA$3.80b (up 7.8% from 1Q 2024). Net income: CA$910.0m (up 17% from 1Q 2024). Profit margin: 24% (up from 22% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 5.3%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has remained flat. Announcement • May 01
Canadian Pacific Kansas City Limited announces Quarterly dividend, payable on July 28, 2025 Canadian Pacific Kansas City Limited announced Quarterly dividend of CAD 0.2280 per share payable on July 28, 2025, ex-date on June 27, 2025 and record date on June 27, 2025. Buy Or Sell Opportunity • Apr 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.9% to US$73.11. The fair value is estimated to be US$92.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 3.6%. For the next 3 years, revenue is forecast to grow by 6.6% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Announcement • Apr 09
Canadian Pacific Kansas City Limited to Report Q1, 2025 Results on Apr 30, 2025 Canadian Pacific Kansas City Limited announced that they will report Q1, 2025 results After-Market on Apr 30, 2025 Buy Or Sell Opportunity • Apr 03
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.6% to US$70.48. The fair value is estimated to be US$90.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 3.6%. For the next 3 years, revenue is forecast to grow by 6.9% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Seeking Alpha • Mar 27
Canadian Pacific Kansas City: It's Time To Wait And See Summary
Canadian Pacific is one of the leading railroad companies in North America. Not only because of its strong presence in the US, but also because it is the only company that conducts business in all three North American countries.
Average train weight closed 4Q2024 at 9,083 tons, compared to 8,732 tons in 4Q2023. Regarding average train length, 2024 closed the last quarter at 7,606 feet, compared to 7,345 feet.
If we compare the full year, we can see that Canadian generated a total of $14.223 billion in revenue in 2024 compared to $12.281 billion in 2023.
While in 4Q2024 the Net Income generated by the company was $1,704 million, in 4Q2023 it was $1,336 million. Looking at the full year, the values rise to $5,269 million and $4,137 million in 2024 and 2023.
Read the full article on Seeking Alpha Upcoming Dividend • Mar 21
Upcoming dividend of CA$0.19 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 28 April 2025. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of American dividend payers (4.6%). Lower than average of industry peers (1.9%). Buy Or Sell Opportunity • Mar 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.0% to US$73.09. The fair value is estimated to be US$92.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 3.6%. For the next 3 years, revenue is forecast to grow by 6.9% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Reported Earnings • Mar 03
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: CA$3.99 (down from CA$4.22 in FY 2023). Revenue: CA$14.5b (up 16% from FY 2023). Net income: CA$3.72b (down 5.3% from FY 2023). Profit margin: 26% (down from 31% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.6%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has remained flat. Announcement • Feb 17
Canadian Pacific Kansas City Limited, Annual General Meeting, Apr 30, 2025 Canadian Pacific Kansas City Limited, Annual General Meeting, Apr 30, 2025. Location: urldefense com v3 meetings lumiconnect com, 400 276 035 378, iww4 hpc9fxwuyzcfajwp9fi2gtfng53 jmp04jjo, Canada Recent Insider Transactions • Feb 04
Senior VP & Chief Risk Officer recently sold US$1.5m worth of stock On the 31st of January, Laird Pitz sold around 19k shares on-market at roughly US$79.02 per share. This transaction amounted to 97% 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 US$2.1m more than they bought in the last 12 months. Buy Or Sell Opportunity • Feb 03
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.8% to US$74.75. The fair value is estimated to be US$98.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 3.6%. For the next 3 years, revenue is forecast to grow by 6.9% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Declared Dividend • Feb 02
Fourth quarter dividend of CA$0.19 announced Shareholders will receive a dividend of CA$0.19. Ex-date: 28th March 2025 Payment date: 28th April 2025 Dividend yield will be 0.8%, which is lower than the industry average of 1.6%. Payout Ratios Payout ratio: 19%. Cash payout ratio: 29%. Reported Earnings • Jan 30
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: CA$3.99 (down from CA$4.22 in FY 2023). Revenue: CA$14.5b (up 16% from FY 2023). Net income: CA$3.72b (down 5.3% from FY 2023). Profit margin: 26% (down from 31% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.6%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year and the company’s share price has also increased by 4% per year. Announcement • Jan 30
Canadian Pacific Kansas City Limited Declares Quarterly Dividend, Payable on April 28, 2025 Canadian Pacific Kansas City Limited declared a quarterly dividend of $0.19 per share on the outstanding Common Shares. The dividend is payable on April 28, 2025, to holders of record at the close of business on March 28, 2025. Announcement • Jan 08
Canadian Pacific Kansas City Limited to Report Q4, 2024 Results on Jan 29, 2025 Canadian Pacific Kansas City Limited announced that they will report Q4, 2024 results After-Market on Jan 29, 2025 Upcoming Dividend • Dec 20
Upcoming dividend of CA$0.19 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 27 January 2025. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of American dividend payers (4.6%). Lower than average of industry peers (1.8%). Buy Or Sell Opportunity • Dec 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to US$71.10. The fair value is estimated to be US$89.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 7.2% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Buy Or Sell Opportunity • Nov 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.4% to US$73.99. The fair value is estimated to be US$92.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 7.4% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Declared Dividend • Oct 29
Third quarter dividend of CA$0.19 announced Shareholders will receive a dividend of CA$0.19. Ex-date: 27th December 2024 Payment date: 27th January 2025 Dividend yield will be 0.8%, which is lower than the industry average of 1.6%. Payout Ratios Payout ratio: 20%. Cash payout ratio: 34%. Reported Earnings • Oct 24
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: CA$0.90 (up from CA$0.84 in 3Q 2023). Revenue: CA$3.55b (up 6.3% from 3Q 2023). Net income: CA$837.0m (up 7.3% from 3Q 2023). Profit margin: 24% (in line with 3Q 2023). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 8.1%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has remained flat. Announcement • Oct 23
Canadian Pacific Kansas City Limited Declares Quarterly Dividend, Payable on January 27, 2025 Canadian Pacific Kansas City Limited declared a quarterly dividend of $0.19 per share on the outstanding Common Shares. The dividend is payable on January 27, 2025, to holders of record at the close of business on December 27, 2024, and is an "eligible" dividend for purposes of the Income Tax Act (Canada) and any similar provincial/territorial legislation. Announcement • Oct 18
Canadian Pacific Kansas City Limited (TSX:CP) acquired Rail line of Meridian & Bigbee Railroad, L.L.C. Canadian Pacific Kansas City Limited (TSX:CP) acquired Rail line of Meridian & Bigbee Railroad, L.L.C. on October 17, 2024. The transaction is approved by Surface Transportation Board.
Canadian Pacific Kansas City Limited (TSX:CP) completed the acquisition of Rail line of Meridian & Bigbee Railroad, L.L.C. on October 17, 2024. Buy Or Sell Opportunity • Oct 03
Now 20% undervalued Over the last 90 days, the stock has risen 2.1% to US$81.88. The fair value is estimated to be US$103, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Upcoming Dividend • Sep 20
Upcoming dividend of CA$0.19 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 28 October 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of American dividend payers (4.3%). Lower than average of industry peers (1.7%). Announcement • Sep 18
Canadian Pacific Kansas City Limited Appoints Arturo Gutiérrez Hernández to Board of Directors, Effective on November 1, 2024 Canadian Pacific Kansas City Limited announced the appointment of Arturo Gutiérrez Hernández to the CPKC Board of Directors, effective on November 1, 2024. Mr. Gutiérrez, 58, of Monterrey, Mexico, has been the chief executive officer of Arca Continental, since January 2019. Prior to being named CEO at Arca, Mr. Gutiérrez served as deputy chief executive officer and previously held several company positions over the last 23 years, including chief operating officer, director for the Mexico Beverages Division, along with leadership positions in Human Resources, Planning and Legal. Mr. Gutiérrez holds a Law Degree from the Escuela Libre de Derecho and a Master's Degree in Law from Harvard University. Declared Dividend • Aug 01
Second quarter dividend of CA$0.19 announced Shareholders will receive a dividend of CA$0.19. Ex-date: 27th September 2024 Payment date: 28th October 2024 Dividend yield will be 0.8%, which is lower than the industry average of 1.6%. Payout Ratios Payout ratio: 20%. Cash payout ratio: 38%. Reported Earnings • Jul 31
Second quarter 2024 earnings: Revenues and EPS in line with analyst expectations Second quarter 2024 results: EPS: CA$0.97 (down from CA$1.42 in 2Q 2023). Revenue: CA$3.60b (up 14% from 2Q 2023). Net income: CA$905.0m (down 32% from 2Q 2023). Profit margin: 25% (down from 42% in 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 4% per year. Announcement • Jul 30
Canadian Pacific Kansas City Limited Declares Quarterly Dividend, Payable on Oct. 28, 2024 The Board of Directors of Canadian Pacific Kansas City Limited declared a quarterly dividend of $0.19 per share on the outstanding Common Shares. The dividend is payable on Oct. 28, 2024, to holders of record at the close of business on Sept. 27, 2024, and is an "eligible" dividend for purposes of the Income Tax Act (Canada) and any similar provincial/territorial legislation. Announcement • Jul 10
Canadian Pacific Kansas City Limited to Report Q2, 2024 Results on Jul 30, 2024 Canadian Pacific Kansas City Limited announced that they will report Q2, 2024 results After-Market on Jul 30, 2024 Declared Dividend • Apr 27
Dividend of CA$0.19 announced Shareholders will receive a dividend of CA$0.19. Ex-date: 28th June 2024 Payment date: 29th July 2024 Dividend yield will be 0.8%, which is lower than the industry average of 1.6%. Payout Ratios Payout ratio: 18%. Cash payout ratio: 43%. Reported Earnings • Apr 24
First quarter 2024 earnings: EPS misses analyst expectations First quarter 2024 results: EPS: CA$0.83 (down from CA$0.86 in 1Q 2023). Revenue: CA$3.52b (up 55% from 1Q 2023). Net income: CA$775.0m (down 3.1% from 1Q 2023). Profit margin: 22% (down from 35% in 1Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 3% per year. Announcement • Apr 04
Canadian Pacific Kansas City Limited to Report Q1, 2024 Results on Apr 24, 2024 Canadian Pacific Kansas City Limited announced that they will report Q1, 2024 results After-Market on Apr 24, 2024 Announcement • Mar 20
Canadian Pacific Kansas City Announces Departure of John Orr as Executive Vice President and Chief Transformation Officer Canadian Pacific Kansas City announced the departure of John Orr, Executive Vice President and Chief Transformation Officer. Mr. Orr will be joining Norfolk Southern as their Chief Operating Officer. Mr. Orr was appointed Executive Vice President and Chief Transformation Officer of CPKC on April 14, 2023. Prior to this role, he served as Executive Vice President Operations for Kansas City Southern from 2021 through 2023. The role of Chief Transformation Officer will not be replaced and Mr. Orr's portfolio will be integrated into CPKC's existing operational structure. Upcoming Dividend • Mar 20
Upcoming dividend of CA$0.19 per share Eligible shareholders must have bought the stock before 27 March 2024. Payment date: 29 April 2024. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (1.6%). Reported Earnings • Mar 01
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: CA$4.22 (up from CA$3.78 in FY 2022). Revenue: CA$12.6b (up 42% from FY 2022). Net income: CA$3.93b (up 12% from FY 2022). Profit margin: 31% (down from 40% in FY 2022). Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) exceeded analyst estimates by 1.3%. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year. Buy Or Sell Opportunity • Feb 22
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to US$85.47. The fair value is estimated to be US$71.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 8.8% per annum. Earnings are also forecast to grow by 9.2% per annum over the same time period. Announcement • Feb 17
Canadian Pacific Kansas City Limited, Annual General Meeting, Apr 24, 2024 Canadian Pacific Kansas City Limited, Annual General Meeting, Apr 24, 2024. Declared Dividend • Feb 02
Fourth quarter dividend of CA$0.19 announced Shareholders will receive a dividend of CA$0.19. Ex-date: 27th March 2024 Payment date: 29th April 2024 Dividend yield will be 0.7%, which is lower than the industry average of 1.6%. Payout Ratios Payout ratio: 18%. Cash payout ratio: 43%. New Risk • Feb 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 174% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risk Large one-off items impacting financial results. Reported Earnings • Feb 01
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: CA$4.22 (up from CA$3.78 in FY 2022). Revenue: CA$12.6b (up 42% from FY 2022). Net income: CA$3.93b (up 12% from FY 2022). Profit margin: 31% (down from 40% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) exceeded analyst estimates by 1.3%. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 5% per year. Announcement • Jan 30
Canadian Pacific Kansas City Limited Declares a Quarterly Dividend, Payable on April 29, 2024 The Board of Directors of Canadian Pacific Kansas City Limited declared a quarterly dividend of $0.19 per share on the outstanding Common Shares. The dividend is payable on April 29, 2024, to holders of record at the close of business on March 28, 2024, and is an "eligible" dividend for purposes of the Income Tax Act (Canada) and any similar provincial/territorial legislation. Announcement • Jan 10
Canadian Pacific Kansas City Limited to Report Q4, 2023 Results on Jan 30, 2024 Canadian Pacific Kansas City Limited announced that they will report Q4, 2023 results After-Market on Jan 30, 2024 Upcoming Dividend • Dec 22
Upcoming dividend of CA$0.19 per share at 0.7% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 29 January 2024. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of American dividend payers (4.6%). Lower than average of industry peers (1.7%). Announcement • Oct 27
Canadian Pacific Kansas City Limited Declares Quarterly Dividend on Common Shares, Payable on January 29, 2024 The Board of Directors of Canadian Pacific Kansas City Limited declared a quarterly dividend of $0.19 per share on the outstanding Common Shares. The dividend is payable on Jan. 29, 2024, to holders of record at the close of business on Dec. 29, 2023, and is an "eligible" dividend for purposes of the Income Tax Act (Canada) and any similar provincial/territorial legislation. Reported Earnings • Oct 26
Third quarter 2023 earnings: EPS misses analyst expectations Third quarter 2023 results: EPS: CA$0.84 (down from CA$0.96 in 3Q 2022). Revenue: CA$3.34b (up 44% from 3Q 2022). Net income: CA$780.0m (down 13% from 3Q 2022). Profit margin: 23% (down from 39% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.5%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Transportation industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 5% per year. Announcement • Oct 05
Canadian Pacific Kansas City Limited to Report Q3, 2023 Results on Oct 25, 2023 Canadian Pacific Kansas City Limited announced that they will report Q3, 2023 results After-Market on Oct 25, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of CA$0.19 per share at 0.7% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 October 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of American dividend payers (5.0%). Lower than average of industry peers (1.8%). 
