Financials Kiwetinohk Energy Corp.

Equities

KEC

CA49836K1021

Integrated Oil & Gas

Market Closed - Toronto S.E. Other stock markets 03:50:07 2024-06-04 pm EDT			5-day change	1st Jan Change
13 ^CAD	-1.29%		+1.56%	+14.54%

Jun. 03	Kiwetinohk Energy's Accelerated 2024 Budget Outlook in Line with Estimates, RBC Capital Markets Says	MT
May. 29	Kiwetinohk Energy Maintained at Outperform at BMO; Price Target Kept at C$17.00	MT

Valuation

Fiscal Period: December	2022	2023	2024	2025	2026
Capitalization ¹	643.7	495.6	575.1	-	-
Enterprise Value (EV) ¹	766.1	682.2	795	775.7	825.6
P/E ratio	-	4.5 x	5.22 x	4.56 x	-
Yield	-	-	-	-	-
Capitalization / Revenue	1.29 x	1.2 x	1.12 x	0.8 x	0.96 x
EV / Revenue	1.53 x	1.66 x	1.54 x	1.08 x	1.38 x
EV / EBITDA	2.09 x	3.08 x	2.49 x	1.79 x	2.72 x
EV / FCF	-27.7 x	-7.96 x	-288 x	8.15 x	-
FCF Yield	-3.61%	-12.6%	-0.35%	12.3%	-
Price to Book	-	-	-	-	-
Nbr of stocks (in thousands)	44,183	43,670	43,667	-	-
Reference price ²	14.57	11.35	13.00	13.00	13.00
Announcement Date	3/8/23	3/7/24	-	-	-

¹CAD in Million²CAD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	182.7	499.9	411.8	515.3	719.3	597.8
EBITDA ¹	39.12	367	221.7	319.7	433.7	303
EBIT ¹	-27.54	176.8	168.9	232.6	344	54.3
Operating Margin	-15.08%	35.37%	41.02%	45.13%	47.83%	9.08%
Earnings before Tax (EBT)	-	-	-	-	-	-
Net income	-	-	-	-	-	-
Net margin	-	-	-	-	-	-
EPS ²	-	-	2.520	2.490	2.850	-
Free Cash Flow ¹	-	-27.69	-85.74	-2.76	95.16	-
FCF margin	-	-5.54%	-20.82%	-0.54%	13.23%	-
FCF Conversion (EBITDA)	-	-	-	-	21.94%	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	3/24/22	3/8/23	3/7/24	-	-	-

¹CAD in Million²CAD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	79.87	137.9	122.6	159.5	119.4	83.94	94.43	114	119.7	114.9	127.1	139.5
EBITDA ¹	-5.614	63.04	-	-	-	-	52.54	-	73.65	67	75	84
EBIT ¹	-18.53	46.3	57.04	95.44	75.34	28.81	-9.241	74.01	20.24	26.7	30.8	36.4
Operating Margin	-23.2%	33.57%	46.51%	59.85%	63.09%	34.33%	-9.79%	64.9%	16.92%	23.24%	24.23%	26.09%
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	55.38	-	-	-	-	-	-	-	-	-
Net margin	-	-	45.15%	-	-	-	-	-	-	-	-	-
EPS	-	-	1.240	-	-	-	-	1.090	0.2500	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	5/11/22	8/11/22	11/10/22	3/8/23	5/2/23	8/2/23	11/8/23	3/7/24	5/8/24	-	-	-

¹CAD in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt ¹	51.5	122	187	220	201	251
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.317 x	0.3333 x	0.8415 x	0.6879 x	0.4626 x	0.8267 x
Free Cash Flow ¹	-	-27.7	-85.7	-2.76	95.2	-
ROE (net income / shareholders' equity)	-	-	17.1%	14%	14%	-
ROA (Net income/ Total Assets)	-	-	-	-	-	-
Assets	-	-	-	-	-	-
Book Value Per Share	-	-	-	-	-	-
Cash Flow per Share ²	1.130	5.920	5.430	6.830	9.100	8.410
Capex ¹	333	327	287	320	336	343
Capex / Sales	182.47%	65.42%	69.69%	62.07%	46.75%	57.32%
Announcement Date	3/24/22	3/8/23	3/7/24	-	-	-

¹CAD in Million²CAD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Kiwetinohk Energy Corp.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

13.17 CAD

Average target price

19.06 CAD

Spread / Average Target

+44.74%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Integrated Oil & Gas

	1st Jan change	Capi.
KIWETINOHK ENERGY CORP.	+14.54%	422M
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GAZPROM	-.--%	52.47B
ENI S.P.A	-8.69%	50.14B
SUNCOR ENERGY INC.	+21.25%	49.99B

Integrated Oil & Gas