Financials Yellow Pages Limited

Equities

Market Closed - Toronto S.E. Other stock markets 03:59:36 2024-05-10 pm EDT			5-day change	1st Jan Change
9.57 ^CAD	-0.31%		-1.34%	-15.08%

May. 10	Yellow Pages Brief: Keeps Sector Perform Rating, But Target Cut To C$11 From $12 at National Bank, Which Notes "Q1 Revs In Line, Adj. EBITDA and Simple FCF Each Miss By $1 Million (6%), Margin Pressure Persists"	MT
May. 09	Yellow Pages Limited Announces Board Changes	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	254.4	349.3	375.7	254.1	160.2	131.6	-	-
Enterprise Value (EV) ¹	366.4	349.7	302	210.2	160.2	177.6	196.6	209.6
P/E ratio	-	-	-	-	-	-	-	-
Yield	-	3.51%	4.1%	-	-	-	-	-
Capitalization / Revenue	0.63 x	1.05 x	1.31 x	0.95 x	0.67 x	0.63 x	0.71 x	-
EV / Revenue	0.91 x	1.05 x	1.05 x	0.78 x	0.67 x	0.85 x	1.06 x	-
EV / EBITDA	2.27 x	2.7 x	2.96 x	2.18 x	2.08 x	3.06 x	4.18 x	-
EV / FCF	3.54 x	2.88 x	3.03 x	4.72 x	-	4.77 x	5.97 x	-
FCF Yield	28.3%	34.7%	32.9%	21.2%	-	21%	16.8%	-
Price to Book	-15.3 x	11.9 x	-	-	-	-	-	-
Nbr of stocks (in thousands)	28,075	27,873	27,502	18,658	14,218	13,753	-	-
Reference price ²	9.060	12.53	13.66	13.62	11.27	9.570	9.570	9.570
Announcement Date	2/13/20	2/11/21	2/10/22	2/15/23	2/14/24	-	-	-

¹CAD in Million²CAD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	403.2	333.5	287.6	268.3	239.4	209.8	186.4	-
EBITDA ¹	161.3	129.4	102	96.57	76.86	58	47	-
EBIT ¹	122.2	101.8	82.36	81.17	63.2	46	37	30
Operating Margin	30.32%	30.51%	28.63%	30.26%	26.4%	21.93%	19.85%	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-
Net margin	-	-	-	-	-	-	-	-
EPS	-	-	-	-	-	-	-	-
Free Cash Flow ¹	103.6	121.4	99.5	44.5	-	37.23	32.94	-
FCF margin	25.7%	36.41%	34.59%	16.59%	-	17.75%	17.67%	-
FCF Conversion (EBITDA)	64.22%	93.81%	97.55%	46.08%	-	64.19%	70.07%	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share	-	0.4400	0.5600	-	-	-	-	-
Announcement Date	2/13/20	2/11/21	2/10/22	2/15/23	2/14/24	-	-	-

¹CAD in Million

Estimates

¹CAD in Million²CAD

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	112	0.5	-	-	-	46	65	78
Net Cash position ¹	-	-	73.7	43.9	-	-	-	-
Leverage (Debt/EBITDA)	0.6943 x	0.00384 x	-	-	-	0.7931 x	1.383 x	-
Free Cash Flow ¹	104	121	99.5	44.5	-	37.2	32.9	-
ROE (net income / shareholders' equity)	-	-	-	-	-	-	-	-
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets	-	-	-	-	-	-	-	-
Book Value Per Share	-0.5900	1.050	-	-	-	-	-	-
Cash Flow per Share	4.450	3.900	3.910	-	-	-	-	-
Capex ¹	9.74	5.57	5.07	5	-	4	4	3
Capex / Sales	2.42%	1.67%	1.76%	1.87%	-	1.91%	2.15%	-
Announcement Date	2/13/20	2/11/21	2/10/22	2/15/23	2/14/24	-	-	-

¹CAD in Million

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

9.57 CAD

Average target price

11 CAD

Spread / Average Target

+14.94%

	1st Jan change	Capi.
YELLOW PAGES LIMITED	-15.08%	96.33M
ZHEWEN INTERACTIVE GROUP CO., LTD.	-9.52%	1.02B
INLY MEDIA CO., LTD.	-28.72%	546M
FAN COMMUNICATIONS, INC.	+3.54%	174M
DIGITAL HOLDINGS, INC.	-16.29%	117M
OTELLO CORPORATION ASA	-2.78%	62.18M
CROSS MARKETING GROUP INC.	-10.05%	62.01M
DIRECT DIGITAL HOLDINGS, INC.	-73.32%	56.96M