Company Valuation: North American Construction Group Ltd.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 545.7 477.7 739.3 831.1 557.3 464.3 - -
Change - -12.46% 54.76% 12.42% -32.94% -16.69% - -
Enterprise Value (EV) 1 854.8 477.7 1,356 1,687 1,436 1,544 1,516 1,297
Change - -44.12% 183.94% 24.4% -14.91% 7.56% -1.81% -14.44%
P/E 11.7x 8.41x 13.2x 20.4x 17.3x 9.41x 6.85x 6.3x
PBR 2.07x 1.56x 2.56x 2.13x 1.21x 1x 0.9x 0.78x
PEG - 0.3x -4.73x -0.7x -0.7x 0.2x 0.2x 0.72x
Capitalization / Revenue 0.83x 0.62x 0.77x 0.71x 0.43x 0.31x 0.28x 0.28x
EV / Revenue 1.31x 0.62x 1.42x 1.45x 1.12x 1.02x 0.91x 0.78x
EV / EBITDA 4.12x 1.95x 4.57x 4.32x 4.03x 3.85x 3.53x 2.94x
EV / EBIT 9.23x 6.71x 14.2x 8.22x 13.2x 12.3x 9.93x 7.18x
EV / FCF 13x 6.82x 17.5x -31.7x -150x 124x 22.8x 13.4x
FCF Yield 7.71% 14.7% 5.7% -3.15% -0.67% 0.81% 4.39% 7.48%
Dividend per Share 2 0.16 0.32 0.4 0.42 0.48 0.48 0.48 0.48
Rate of return 0.83% 1.77% 1.45% 1.36% 2.43% 2.78% 2.78% 2.78%
EPS 2 1.64 2.15 2.09 1.52 1.14 1.832 2.52 2.74
Distribution rate 9.76% 14.9% 19.1% 27.6% 42.1% 26.2% 19% 17.5%
Net sales 1 654.1 769.5 957.2 1,166 1,284 1,519 1,674 1,669
EBITDA 1 207.3 245.4 297 390.3 356.5 401.5 429.4 441.4
EBIT 1 92.66 71.16 95.71 205.3 109.2 125.1 152.6 180.6
Net income 1 51.41 - 63.14 44.08 33.83 46.95 60.62 69
Net Debt 1 309.1 - 617.1 856.2 878.5 1,080 1,052 833
Reference price 2 19.19 18.08 27.65 30.98 19.76 17.25 17.25 17.25
Nbr of stocks (in thousands) 28,437 26,421 26,737 26,827 28,203 26,914 - -
Announcement Date 16/02/22 15/02/23 13/03/24 19/03/25 11/03/26 - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
9.41x1.02x3.85x2.78% 328M
21.03x2.27x10.36x2.28% 76.42B
19.59x2.4x13.42x1.61% 56.7B
23.04x2.51x12.38x0.28% 27.69B
13.52x1.43x7.82x2.1% 27.02B
27.85x0.52x4.5x3.74% 9.75B
21.81x0.82x7.13x1.98% 6.95B
7.12x1.42x5.58x2.92% 7.02B
15.48x1.32x6.22x1.33% 5.94B
6.73x - - 4.66% 5.84B
Average 16.56x 1.52x 7.92x 2.37% 22.37B
Weighted average by Cap. 19.35x 2.05x 10.46x 1.95%

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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  4. Valuation North American Construction Group Ltd.