Company Valuation: Bank of Montreal

Data adjusted to current consolidation scope
Fiscal Period: October 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 87,085 84,259 75,526 92,563 124,802 168,539 - -
Change - -3.25% -10.36% 22.56% 34.83% 35.04% - -
Enterprise Value (EV) 87,085 84,259 75,526 92,563 124,802 168,539 168,539 168,539
Change - -3.25% -10.36% 22.56% 34.83% 35.04% 0% 0%
P/E 11.6x 6.28x 18.4x 13.3x 15.2x 18.9x 15x 13.8x
PBR 1.68x 1.31x 1.08x 1.22x 1.56x 2.14x 2.03x 1.93x
PEG - 0.1x -0.3x 0.2x 0.7x 1.5x 0.6x 1.72x
Capitalization / Revenue 3.2x 2.5x 2.42x 2.86x 3.44x 4.29x 4.1x 3.93x
EV / Revenue 0x 0x 0x 0x 0x 4.29x 4.1x 3.93x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 10.1x 9.32x 8.82x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 4.24 5.44 5.8 6.12 6.44 6.769 6.955 7.588
Rate of return 3.16% 4.34% 5.53% 4.82% 3.7% 2.79% 2.87% 3.13%
EPS 2 11.58 19.99 5.68 9.51 11.44 12.84 16.22 17.52
Distribution rate 36.6% 27.2% 102% 64.4% 56.3% 52.7% 42.9% 43.3%
Net sales 1 27,186 33,710 31,199 32,412 36,274 39,270 41,140 42,933
EBITDA - - - - - - - -
EBIT 1 11,208 12,022 13,346 13,423 15,839 16,769 18,089 19,119
Net income 1 7,754 13,537 4,377 6,932 8,273 9,120 11,025 11,732
Net Debt - - - - - - - -
Reference price 2 134.37 125.49 104.79 126.88 174.23 242.47 242.47 242.47
Nbr of stocks (in thousands) 648,095 671,437 720,734 729,530 716,307 695,092 - -
Announcement Date 03/12/21 01/12/22 01/12/23 05/12/24 04/12/25 - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14x - - 1.78% 940B
13.4x - - 1.91% 437B
6.31x - - 4.92% 410B
12.65x - - 4.13% 354B
6.3x - - 4.89% 334B
6.68x - - 4.75% 296B
17.56x - - 2.4% 286B
12.25x - - 2.13% 270B
14.64x - - 2.69% 268B
Average 11.53x 3.29% 399.42B
Weighted average by Cap. 11.80x 3.06%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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