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EMERA INC - EMACN 6.434 PERP (EMA-PR-C.CA) Stock Fundamental Analysis

Canada - TSX:EMA-PR-C - CA2908765076

25.4 CAD
+0.05 (+0.2%)
Last: 10/16/2025, 7:00:00 PM
Fundamental Rating

4

EMA-PR-C gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 18 industry peers in the Electric Utilities industry. Both the profitability and financial health of EMA-PR-C have multiple concerns. EMA-PR-C has a decent growth rate and is not valued too expensively. Finally EMA-PR-C also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year EMA-PR-C was profitable.
EMA-PR-C had a positive operating cash flow in the past year.
In the past 5 years EMA-PR-C has always been profitable.
Each year in the past 5 years EMA-PR-C had a positive operating cash flow.
EMA-PR-C.CA Yearly Net Income VS EBIT VS OCF VS FCFEMA-PR-C.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 2024 0 1B -1B 2B

1.2 Ratios

EMA-PR-C has a worse Return On Assets (2.04%) than 88.89% of its industry peers.
Looking at the Return On Equity, with a value of 6.60%, EMA-PR-C is doing worse than 88.89% of the companies in the same industry.
The Return On Invested Capital of EMA-PR-C (3.62%) is worse than 88.89% of its industry peers.
The Average Return On Invested Capital over the past 3 years for EMA-PR-C is in line with the industry average of 4.02%.
The last Return On Invested Capital (3.62%) for EMA-PR-C is above the 3 year average (3.14%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 2.04%
ROE 6.6%
ROIC 3.62%
ROA(3y)2%
ROA(5y)2.1%
ROE(3y)6.7%
ROE(5y)7.06%
ROIC(3y)3.14%
ROIC(5y)2.92%
EMA-PR-C.CA Yearly ROA, ROE, ROICEMA-PR-C.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

EMA-PR-C has a worse Profit Margin (10.65%) than 88.89% of its industry peers.
In the last couple of years the Profit Margin of EMA-PR-C has declined.
EMA-PR-C has a worse Operating Margin (24.00%) than 83.33% of its industry peers.
In the last couple of years the Operating Margin of EMA-PR-C has declined.
Industry RankSector Rank
OM 24%
PM (TTM) 10.65%
GM N/A
OM growth 3Y3.96%
OM growth 5Y-4.26%
PM growth 3Y-8.12%
PM growth 5Y-8.76%
GM growth 3YN/A
GM growth 5YN/A
EMA-PR-C.CA Yearly Profit, Operating, Gross MarginsEMA-PR-C.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

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2

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), EMA-PR-C is destroying value.
EMA-PR-C has more shares outstanding than it did 1 year ago.
The number of shares outstanding for EMA-PR-C has been increased compared to 5 years ago.
EMA-PR-C has a better debt/assets ratio than last year.
EMA-PR-C.CA Yearly Shares OutstandingEMA-PR-C.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
EMA-PR-C.CA Yearly Total Debt VS Total AssetsEMA-PR-C.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B

2.2 Solvency

Based on the Altman-Z score of 0.51, we must say that EMA-PR-C is in the distress zone and has some risk of bankruptcy.
EMA-PR-C has a Altman-Z score (0.51) which is in line with its industry peers.
EMA-PR-C has a Debt/Equity ratio of 1.47. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.47, EMA-PR-C is doing worse than 88.89% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.47
Debt/FCF N/A
Altman-Z 0.51
ROIC/WACC0.75
WACC4.84%
EMA-PR-C.CA Yearly LT Debt VS Equity VS FCFEMA-PR-C.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B

2.3 Liquidity

A Current Ratio of 0.72 indicates that EMA-PR-C may have some problems paying its short term obligations.
EMA-PR-C has a better Current ratio (0.72) than 61.11% of its industry peers.
A Quick Ratio of 0.57 indicates that EMA-PR-C may have some problems paying its short term obligations.
EMA-PR-C's Quick ratio of 0.57 is fine compared to the rest of the industry. EMA-PR-C outperforms 61.11% of its industry peers.
Industry RankSector Rank
Current Ratio 0.72
Quick Ratio 0.57
EMA-PR-C.CA Yearly Current Assets VS Current LiabilitesEMA-PR-C.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 39.33% over the past year.
EMA-PR-C shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 2.49% yearly.
Looking at the last year, EMA-PR-C shows a quite strong growth in Revenue. The Revenue has grown by 12.00% in the last year.
Measured over the past years, EMA-PR-C shows a small growth in Revenue. The Revenue has been growing by 3.33% on average per year.
EPS 1Y (TTM)39.33%
EPS 3Y1.4%
EPS 5Y2.49%
EPS Q2Q%49.06%
Revenue 1Y (TTM)12%
Revenue growth 3Y7.69%
Revenue growth 5Y3.33%
Sales Q2Q%26.21%

3.2 Future

EMA-PR-C is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.29% yearly.
The Revenue is expected to grow by 3.70% on average over the next years.
EPS Next Y21.14%
EPS Next 2Y9.12%
EPS Next 3Y7.37%
EPS Next 5Y8.29%
Revenue Next Year13.49%
Revenue Next 2Y4.24%
Revenue Next 3Y4.95%
Revenue Next 5Y3.7%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
EMA-PR-C.CA Yearly Revenue VS EstimatesEMA-PR-C.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2B 4B 6B 8B
EMA-PR-C.CA Yearly EPS VS EstimatesEMA-PR-C.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1 2 3 4

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5

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 6.83, the valuation of EMA-PR-C can be described as very cheap.
Based on the Price/Earnings ratio, EMA-PR-C is valued a bit more expensive than 61.11% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.31, EMA-PR-C is valued rather cheaply.
EMA-PR-C is valuated cheaply with a Price/Forward Earnings ratio of 7.26.
Compared to the rest of the industry, the Price/Forward Earnings ratio of EMA-PR-C indicates a slightly more expensive valuation: EMA-PR-C is more expensive than 72.22% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.85. EMA-PR-C is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 6.83
Fwd PE 7.26
EMA-PR-C.CA Price Earnings VS Forward Price EarningsEMA-PR-C.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

The rest of the industry has a similar Enterprise Value to EBITDA ratio as EMA-PR-C.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 8.08
EMA-PR-C.CA Per share dataEMA-PR-C.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.32
PEG (5Y)2.74
EPS Next 2Y9.12%
EPS Next 3Y7.37%

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7

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.32%, EMA-PR-C is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 4.72, EMA-PR-C has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.40, EMA-PR-C pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.32%

5.2 History

The dividend of EMA-PR-C has a limited annual growth rate of 3.46%.
EMA-PR-C has been paying a dividend for at least 10 years, so it has a reliable track record.
EMA-PR-C has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)3.46%
Div Incr Years2
Div Non Decr Years12
EMA-PR-C.CA Yearly Dividends per shareEMA-PR-C.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

EMA-PR-C pays out 71.12% of its income as dividend. This is not a sustainable payout ratio.
EMA-PR-C's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP71.12%
EPS Next 2Y9.12%
EPS Next 3Y7.37%
EMA-PR-C.CA Yearly Income VS Free CF VS DividendEMA-PR-C.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M -1B -1.5B
EMA-PR-C.CA Dividend Payout.EMA-PR-C.CA Dividend Payout, showing the Payout Ratio.EMA-PR-C.CA Dividend Payout.PayoutRetained Earnings

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EMERA INC - EMACN 6.434 PERP

TSX:EMA-PR-C (10/16/2025, 7:00:00 PM)

25.4

+0.05 (+0.2%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryElectric Utilities
Earnings (Last)08-08 2025-08-08/bmo
Earnings (Next)11-07 2025-11-07
Inst Owners57.67%
Inst Owner ChangeN/A
Ins Owners0.15%
Ins Owner ChangeN/A
Market Cap7.63B
Analysts70
Price Target25.75 (1.38%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.32%
Yearly Dividend2.11
Dividend Growth(5Y)3.46%
DP71.12%
Div Incr Years2
Div Non Decr Years12
Ex-Date08-01 2025-08-01 (0.40213)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)24.12%
Min EPS beat(2)20.34%
Max EPS beat(2)27.9%
EPS beat(4)4
Avg EPS beat(4)14.99%
Min EPS beat(4)2.82%
Max EPS beat(4)27.9%
EPS beat(8)5
Avg EPS beat(8)3.91%
EPS beat(12)8
Avg EPS beat(12)5.32%
EPS beat(16)9
Avg EPS beat(16)3.65%
Revenue beat(2)1
Avg Revenue beat(2)5.95%
Min Revenue beat(2)-7.41%
Max Revenue beat(2)19.3%
Revenue beat(4)1
Avg Revenue beat(4)-1.98%
Min Revenue beat(4)-13.96%
Max Revenue beat(4)19.3%
Revenue beat(8)1
Avg Revenue beat(8)-6.12%
Revenue beat(12)4
Avg Revenue beat(12)2.34%
Revenue beat(16)7
Avg Revenue beat(16)1.31%
PT rev (1m)0.99%
PT rev (3m)0.2%
EPS NQ rev (1m)0.2%
EPS NQ rev (3m)-0.18%
EPS NY rev (1m)-0.1%
EPS NY rev (3m)8.89%
Revenue NQ rev (1m)-2.3%
Revenue NQ rev (3m)-0.94%
Revenue NY rev (1m)0.37%
Revenue NY rev (3m)5.21%
Valuation
Industry RankSector Rank
PE 6.83
Fwd PE 7.26
P/S 0.93
P/FCF N/A
P/OCF 3.39
P/B 0.57
P/tB 1.03
EV/EBITDA 8.08
EPS(TTM)3.72
EY14.65%
EPS(NY)3.5
Fwd EY13.78%
FCF(TTM)-4.23
FCFYN/A
OCF(TTM)7.5
OCFY29.51%
SpS27.39
BVpS44.19
TBVpS24.69
PEG (NY)0.32
PEG (5Y)2.74
Profitability
Industry RankSector Rank
ROA 2.04%
ROE 6.6%
ROCE 5.22%
ROIC 3.62%
ROICexc 3.64%
ROICexgc 4.29%
OM 24%
PM (TTM) 10.65%
GM N/A
FCFM N/A
ROA(3y)2%
ROA(5y)2.1%
ROE(3y)6.7%
ROE(5y)7.06%
ROIC(3y)3.14%
ROIC(5y)2.92%
ROICexc(3y)3.18%
ROICexc(5y)2.95%
ROICexgc(3y)3.8%
ROICexgc(5y)3.58%
ROCE(3y)4.61%
ROCE(5y)4.29%
ROICexcg growth 3Y1.9%
ROICexcg growth 5Y-7.94%
ROICexc growth 3Y3.35%
ROICexc growth 5Y-6.78%
OM growth 3Y3.96%
OM growth 5Y-4.26%
PM growth 3Y-8.12%
PM growth 5Y-8.76%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.19
Health
Industry RankSector Rank
Debt/Equity 1.47
Debt/FCF N/A
Debt/EBITDA 6.12
Cap/Depr 287.67%
Cap/Sales 42.82%
Interest Coverage 250
Cash Conversion 70.38%
Profit Quality N/A
Current Ratio 0.72
Quick Ratio 0.57
Altman-Z 0.51
F-Score7
WACC4.84%
ROIC/WACC0.75
Cap/Depr(3y)272.75%
Cap/Depr(5y)273.57%
Cap/Sales(3y)38.94%
Cap/Sales(5y)41.07%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)39.33%
EPS 3Y1.4%
EPS 5Y2.49%
EPS Q2Q%49.06%
EPS Next Y21.14%
EPS Next 2Y9.12%
EPS Next 3Y7.37%
EPS Next 5Y8.29%
Revenue 1Y (TTM)12%
Revenue growth 3Y7.69%
Revenue growth 5Y3.33%
Sales Q2Q%26.21%
Revenue Next Year13.49%
Revenue Next 2Y4.24%
Revenue Next 3Y4.95%
Revenue Next 5Y3.7%
EBIT growth 1Y40.87%
EBIT growth 3Y11.95%
EBIT growth 5Y-1.07%
EBIT Next Year100.79%
EBIT Next 3Y29.41%
EBIT Next 5Y21.2%
FCF growth 1Y25.83%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y89.08%
OCF growth 3Y30.7%
OCF growth 5Y11.65%