Financials Quebecor Inc.

Equities

QBR.A

CA7481931094

Integrated Telecommunications Services

Market Closed - Toronto S.E. 01:26:55 2024-04-24 pm EDT 5-day change 1st Jan Change
28.97 CAD +0.07% Intraday chart for Quebecor Inc. +2.08% -15.37%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 8,434 8,154 6,861 6,978 7,479 6,603 - -
Enterprise Value (EV) 1 14,695 13,346 13,654 13,571 7,479 14,006 13,381 11,833
P/E ratio 12.9 x - 12.6 x 11.9 x - - - -
Yield 1.19% 2.44% 4.82% 3.97% - - - -
Capitalization / Revenue 1.96 x 1.89 x 1.51 x 1.54 x 1.38 x 1.15 x 1.12 x 1.13 x
EV / Revenue 3.42 x 3.09 x 3 x 2.99 x 1.38 x 2.44 x 2.28 x 2.02 x
EV / EBITDA 7.82 x 6.83 x 6.92 x 7.02 x 3.34 x 5.88 x 5.45 x 4.79 x
EV / FCF 68.9 x 17.1 x -53 x 17.5 x - 14.4 x 13.4 x 12.5 x
FCF Yield 1.45% 5.83% -1.89% 5.72% - 6.97% 7.45% 8.03%
Price to Book 8.59 x - - - - - - -
Nbr of stocks (in thousands) 254,885 248,818 239,258 230,936 230,676 230,676 - -
Reference price 2 32.97 32.80 28.94 30.25 34.23 28.97 28.97 28.97
Announcement Date 3/12/20 2/25/21 2/24/22 2/23/23 2/22/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,294 4,318 4,554 4,532 5,434 5,734 5,870 5,866
EBITDA 1 1,880 1,953 1,973 1,934 2,238 2,381 2,457 2,470
EBIT 1 1,165 1,149 1,189 1,167 1,329 1,383 1,434 1,420
Operating Margin 27.12% 26.62% 26.12% 25.75% 24.45% 24.11% 24.44% 24.2%
Earnings before Tax (EBT) 1 766.5 790 785.4 810.1 863 960.3 1,070 1,009
Net income 1 652.8 607.2 578.4 599.7 650.5 713.5 794.6 741.6
Net margin 15.2% 14.06% 12.7% 13.23% 11.97% 12.44% 13.54% 12.64%
EPS 2.550 - 2.290 2.550 - - - -
Free Cash Flow 1 213.3 778.4 -257.7 776.2 - 975.8 996.3 950
FCF margin 4.97% 18.03% -5.66% 17.13% - 17.02% 16.97% 16.2%
FCF Conversion (EBITDA) 11.35% 39.86% - 40.12% - 40.98% 40.55% 38.46%
FCF Conversion (Net income) 32.67% 128.19% - 129.43% - 136.77% 125.38% 128.11%
Dividend per Share 0.3925 0.8000 1.395 1.200 - - - -
Announcement Date 3/12/20 2/25/21 2/24/22 2/23/23 2/22/24 - - -
1CAD in Million
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 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 1,148 1,184 1,088 1,115 1,144 1,185 1,116 1,398 1,415 1,505 1,365 1,408 1,429 1,502
EBITDA 1 520.3 498.8 442.1 491.4 518 483 442.8 605.2 624.4 565.4 552.1 601.7 617.7 582.5
EBIT 1 326 301.2 247.4 299.8 326.5 293.1 254.3 354.6 385.6 334.3 315 347.5 374.5 342.5
Operating Margin 28.39% 25.44% 22.74% 26.88% 28.55% 24.73% 22.79% 25.36% 27.24% 22.22% 23.08% 24.68% 26.21% 22.81%
Earnings before Tax (EBT) 1 - 221.1 - - - - - 229.2 279.2 195.1 211.6 251.4 251.5 232.3
Net income 1 173.1 160.5 121.4 157.4 178.4 142.5 120.9 174.1 209.3 146.2 158.8 189 190.5 174.8
Net margin 15.08% 13.56% 11.16% 14.11% 15.6% 12.03% 10.84% 12.45% 14.79% 9.72% 11.63% 13.43% 13.34% 11.64%
EPS - 0.6300 - - - - - - - - - - - -
Dividend per Share 0.5500 0.3000 - 0.3000 - - - - - - - - - -
Announcement Date 11/4/21 2/24/22 5/12/22 8/4/22 11/3/22 2/23/23 5/11/23 8/10/23 11/9/23 2/22/24 - - - -
1CAD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 6,261 5,191 6,793 6,593 - 7,403 6,779 5,231
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.331 x 2.659 x 3.443 x 3.408 x - 3.109 x 2.759 x 2.118 x
Free Cash Flow 1 213 778 -258 776 - 976 996 950
ROE (net income / shareholders' equity) 89.6% 58.1% 48.8% 45.9% - 34.5% 28.7% 19.4%
ROA (Net income/ Total Assets) - - 5.61% 5.61% - 5.9% 6.3% 5.6%
Assets 1 - - 10,312 10,694 - 12,093 12,613 13,242
Book Value Per Share 3.840 - - - - - - -
Cash Flow per Share 4.740 - 4.760 - - - - -
Capex 1 999 653 1,448 487 - 619 726 804
Capex / Sales 23.25% 15.13% 31.79% 10.74% - 10.79% 12.36% 13.7%
Announcement Date 3/12/20 2/25/21 2/24/22 2/23/23 2/22/24 - - -
1CAD in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
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Quarterly revenue - Rate of surprise

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