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ALGONQUIN PWR & UTILITY - AQNCN 6.853 PERP (AQN-PR-D.CA) Stock Fundamental Analysis

TSX:AQN-PR-D - Toronto Stock Exchange - CA0158575013 - Currency: CAD

24.54  -0.01 (-0.04%)

Fundamental Rating

2

AQN-PR-D gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 21 industry peers in the Multi-Utilities industry. Both the profitability and financial health of AQN-PR-D have multiple concerns. AQN-PR-D is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year AQN-PR-D was profitable.
AQN-PR-D had a positive operating cash flow in the past year.
Of the past 5 years AQN-PR-D 4 years were profitable.
Each year in the past 5 years AQN-PR-D had a positive operating cash flow.
AQN-PR-D.CA Yearly Net Income VS EBIT VS OCF VS FCFAQN-PR-D.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M -500M -1B

1.2 Ratios

With a Return On Assets value of -6.24%, AQN-PR-D is not doing good in the industry: 94.74% of the companies in the same industry are doing better.
AQN-PR-D's Return On Equity of -22.90% is on the low side compared to the rest of the industry. AQN-PR-D is outperformed by 94.74% of its industry peers.
With a Return On Invested Capital value of 2.65%, AQN-PR-D perfoms like the industry average, outperforming 52.63% of the companies in the same industry.
AQN-PR-D had an Average Return On Invested Capital over the past 3 years of 2.09%. This is in line with the industry average of 2.92%.
The 3 year average ROIC (2.09%) for AQN-PR-D is below the current ROIC(2.65%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA -6.24%
ROE -22.9%
ROIC 2.65%
ROA(3y)0.13%
ROA(5y)2.2%
ROE(3y)0.18%
ROE(5y)5.78%
ROIC(3y)2.09%
ROIC(5y)2.23%
AQN-PR-D.CA Yearly ROA, ROE, ROICAQN-PR-D.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5 10

1.3 Margins

AQN-PR-D's Profit Margin has declined in the last couple of years.
The Operating Margin of AQN-PR-D (19.49%) is worse than 94.74% of its industry peers.
AQN-PR-D's Operating Margin has declined in the last couple of years.
Looking at the Gross Margin, with a value of 74.55%, AQN-PR-D is doing worse than 68.42% of the companies in the same industry.
In the last couple of years the Gross Margin of AQN-PR-D has remained more or less at the same level.
Industry RankSector Rank
OM 19.49%
PM (TTM) N/A
GM 74.55%
OM growth 3Y-6.79%
OM growth 5Y-4.27%
PM growth 3Y-74.64%
PM growth 5Y-41.23%
GM growth 3Y-1.6%
GM growth 5Y0.32%
AQN-PR-D.CA Yearly Profit, Operating, Gross MarginsAQN-PR-D.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 40 60

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1

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so AQN-PR-D is destroying value.
The number of shares outstanding for AQN-PR-D has been increased compared to 1 year ago.
The number of shares outstanding for AQN-PR-D has been increased compared to 5 years ago.
Compared to 1 year ago, AQN-PR-D has a worse debt to assets ratio.
AQN-PR-D.CA Yearly Shares OutstandingAQN-PR-D.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M
AQN-PR-D.CA Yearly Total Debt VS Total AssetsAQN-PR-D.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B

2.2 Solvency

AQN-PR-D has an Altman-Z score of 0.69. This is a bad value and indicates that AQN-PR-D is not financially healthy and even has some risk of bankruptcy.
AQN-PR-D has a Altman-Z score of 0.69. This is in the better half of the industry: AQN-PR-D outperforms 68.42% of its industry peers.
AQN-PR-D has a Debt/Equity ratio of 1.49. This is a high value indicating a heavy dependency on external financing.
AQN-PR-D's Debt to Equity ratio of 1.49 is amongst the best of the industry. AQN-PR-D outperforms 89.47% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.49
Debt/FCF N/A
Altman-Z 0.69
ROIC/WACC0.43
WACC6.11%
AQN-PR-D.CA Yearly LT Debt VS Equity VS FCFAQN-PR-D.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B 4B 6B

2.3 Liquidity

AQN-PR-D has a Current Ratio of 0.92. This is a bad value and indicates that AQN-PR-D is not financially healthy enough and could expect problems in meeting its short term obligations.
AQN-PR-D has a worse Current ratio (0.92) than 68.42% of its industry peers.
A Quick Ratio of 0.77 indicates that AQN-PR-D may have some problems paying its short term obligations.
The Quick ratio of AQN-PR-D (0.77) is worse than 68.42% of its industry peers.
Industry RankSector Rank
Current Ratio 0.92
Quick Ratio 0.77
AQN-PR-D.CA Yearly Current Assets VS Current LiabilitesAQN-PR-D.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

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3

3. Growth

3.1 Past

AQN-PR-D shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -18.97%.
Measured over the past years, AQN-PR-D shows a decrease in Earnings Per Share. The EPS has been decreasing by -4.95% on average per year.
AQN-PR-D shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 13.32%.
AQN-PR-D shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.35% yearly.
EPS 1Y (TTM)-18.97%
EPS 3Y-6.69%
EPS 5Y-4.95%
EPS Q2Q%-27.27%
Revenue 1Y (TTM)13.32%
Revenue growth 3Y17.17%
Revenue growth 5Y10.35%
Sales Q2Q%-8.24%

3.2 Future

AQN-PR-D is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -4.45% yearly.
The Revenue is expected to decrease by -0.28% on average over the next years.
EPS Next Y-22.74%
EPS Next 2Y-23.03%
EPS Next 3Y-11.12%
EPS Next 5Y-4.45%
Revenue Next Year-4.55%
Revenue Next 2Y-4.94%
Revenue Next 3Y-2.09%
Revenue Next 5Y-0.28%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
AQN-PR-D.CA Yearly Revenue VS EstimatesAQN-PR-D.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B 1.5B 2B 2.5B
AQN-PR-D.CA Yearly EPS VS EstimatesAQN-PR-D.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.2 0.4 0.6

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0

4. Valuation

4.1 Price/Earnings Ratio

AQN-PR-D is valuated quite expensively with a Price/Earnings ratio of 36.63.
68.42% of the companies in the same industry are cheaper than AQN-PR-D, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 29.63. AQN-PR-D is valued slightly more expensive when compared to this.
With a Price/Forward Earnings ratio of 56.12, AQN-PR-D can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, AQN-PR-D is valued more expensive than 94.74% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.68, AQN-PR-D is valued quite expensively.
Industry RankSector Rank
PE 36.63
Fwd PE 56.12
AQN-PR-D.CA Price Earnings VS Forward Price EarningsAQN-PR-D.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

94.74% of the companies in the same industry are cheaper than AQN-PR-D, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 18.61
AQN-PR-D.CA Per share dataAQN-PR-D.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8

4.3 Compensation for Growth

AQN-PR-D's earnings are expected to decrease with -11.12% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-23.03%
EPS Next 3Y-11.12%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 5.29%, AQN-PR-D is a good candidate for dividend investing.
AQN-PR-D's Dividend Yield is comparable with the industry average which is at 5.33.
Compared to an average S&P500 Dividend Yield of 2.27, AQN-PR-D pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.29%

5.2 History

The dividend of AQN-PR-D has a limited annual growth rate of 4.94%.
AQN-PR-D has paid a dividend for at least 10 years, which is a reliable track record.
AQN-PR-D has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)4.94%
Div Incr Years1
Div Non Decr Years10
AQN-PR-D.CA Yearly Dividends per shareAQN-PR-D.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0.5 1 1.5

5.3 Sustainability

AQN-PR-D has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-28.84%
EPS Next 2Y-23.03%
EPS Next 3Y-11.12%
AQN-PR-D.CA Yearly Income VS Free CF VS DividendAQN-PR-D.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M -500M -1B

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ALGONQUIN PWR & UTILITY - AQNCN 6.853 PERP

TSX:AQN-PR-D (2/21/2025, 7:00:00 PM)

24.54

-0.01 (-0.04%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryMulti-Utilities
Earnings (Last)11-07 2024-11-07/bmo
Earnings (Next)03-07 2025-03-07/amc
Inst Owners65.03%
Inst Owner ChangeN/A
Ins Owners0.04%
Ins Owner ChangeN/A
Market Cap18.83B
Analysts68.57
Price Target20.64 (-15.89%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.29%
Yearly Dividend0.48
Dividend Growth(5Y)4.94%
DP-28.84%
Div Incr Years1
Div Non Decr Years10
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.86%
Min EPS beat(2)-15.13%
Max EPS beat(2)13.41%
EPS beat(4)2
Avg EPS beat(4)-1.62%
Min EPS beat(4)-15.13%
Max EPS beat(4)13.41%
EPS beat(8)3
Avg EPS beat(8)-3.44%
EPS beat(12)4
Avg EPS beat(12)-5.16%
EPS beat(16)5
Avg EPS beat(16)-4.07%
Revenue beat(2)0
Avg Revenue beat(2)-2.63%
Min Revenue beat(2)-5.17%
Max Revenue beat(2)-0.08%
Revenue beat(4)1
Avg Revenue beat(4)-3.42%
Min Revenue beat(4)-9.57%
Max Revenue beat(4)1.13%
Revenue beat(8)4
Avg Revenue beat(8)-0.69%
Revenue beat(12)7
Avg Revenue beat(12)0.82%
Revenue beat(16)10
Avg Revenue beat(16)2.91%
PT rev (1m)-8.35%
PT rev (3m)1.39%
EPS NQ rev (1m)3.23%
EPS NQ rev (3m)-44.56%
EPS NY rev (1m)2.52%
EPS NY rev (3m)-9.6%
Revenue NQ rev (1m)-12.03%
Revenue NQ rev (3m)-12.03%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.33%
Valuation
Industry RankSector Rank
PE 36.63
Fwd PE 56.12
P/S 4.23
P/FCF N/A
P/OCF 20.91
P/B 2.74
P/tB 3.85
EV/EBITDA 18.61
EPS(TTM)0.67
EY2.73%
EPS(NY)0.44
Fwd EY1.78%
FCF(TTM)-0.55
FCFYN/A
OCF(TTM)1.17
OCFY4.78%
SpS5.81
BVpS8.96
TBVpS6.38
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -6.24%
ROE -22.9%
ROCE 3.69%
ROIC 2.65%
ROICexc 2.66%
ROICexgc 2.91%
OM 19.49%
PM (TTM) N/A
GM 74.55%
FCFM N/A
ROA(3y)0.13%
ROA(5y)2.2%
ROE(3y)0.18%
ROE(5y)5.78%
ROIC(3y)2.09%
ROIC(5y)2.23%
ROICexc(3y)2.1%
ROICexc(5y)2.25%
ROICexgc(3y)2.3%
ROICexgc(5y)2.48%
ROCE(3y)2.91%
ROCE(5y)3.1%
ROICexcg growth 3Y-2.44%
ROICexcg growth 5Y-7.49%
ROICexc growth 3Y-1.59%
ROICexc growth 5Y-6.9%
OM growth 3Y-6.79%
OM growth 5Y-4.27%
PM growth 3Y-74.64%
PM growth 5Y-41.23%
GM growth 3Y-1.6%
GM growth 5Y0.32%
F-Score6
Asset Turnover0.18
Health
Industry RankSector Rank
Debt/Equity 1.49
Debt/FCF N/A
Debt/EBITDA 6.49
Cap/Depr 186.56%
Cap/Sales 29.67%
Interest Coverage 1.51
Cash Conversion 57.1%
Profit Quality N/A
Current Ratio 0.92
Quick Ratio 0.77
Altman-Z 0.69
F-Score6
WACC6.11%
ROIC/WACC0.43
Cap/Depr(3y)264.2%
Cap/Depr(5y)249.46%
Cap/Sales(3y)45.42%
Cap/Sales(5y)43.78%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-18.97%
EPS 3Y-6.69%
EPS 5Y-4.95%
EPS Q2Q%-27.27%
EPS Next Y-22.74%
EPS Next 2Y-23.03%
EPS Next 3Y-11.12%
EPS Next 5Y-4.45%
Revenue 1Y (TTM)13.32%
Revenue growth 3Y17.17%
Revenue growth 5Y10.35%
Sales Q2Q%-8.24%
Revenue Next Year-4.55%
Revenue Next 2Y-4.94%
Revenue Next 3Y-2.09%
Revenue Next 5Y-0.28%
EBIT growth 1Y21.37%
EBIT growth 3Y9.22%
EBIT growth 5Y5.64%
EBIT Next Year55.11%
EBIT Next 3Y12.57%
EBIT Next 5Y17.41%
FCF growth 1Y55.01%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y19.47%
OCF growth 3Y7.52%
OCF growth 5Y3.44%