EMERA INC (EMA.CA) Fundamental Analysis & Valuation
TSX:EMA • CA2908761018
73.43 CAD
+0.93 (+1.28%)
Last: Mar 13, 2026, 07:00 PM
This EMA.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
EMA gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 18 industry peers in the Electric Utilities industry. There are concerns on the financial health of EMA while its profitability can be described as average. While showing a medium growth rate, EMA is valued expensive at the moment. Finally EMA also has an excellent dividend rating.
1. EMA.CA Profitability Analysis
1.1 Basic Checks
- In the past year EMA was profitable.
- In the past year EMA had a positive cash flow from operations.
- EMA had positive earnings in each of the past 5 years.
- Each year in the past 5 years EMA had a positive operating cash flow.
1.2 Ratios
- Looking at the Return On Assets, with a value of 2.26%, EMA is doing worse than 94.44% of the companies in the same industry.
- Looking at the Return On Equity, with a value of 7.58%, EMA is in line with its industry, outperforming 50.00% of the companies in the same industry.
- EMA has a worse Return On Invested Capital (3.69%) than 94.44% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for EMA is in line with the industry average of 4.07%.
- The 3 year average ROIC (3.21%) for EMA is below the current ROIC(3.69%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.26% | ||
| ROE | 7.58% | ||
| ROIC | 3.69% |
ROA(3y)1.96%
ROA(5y)1.95%
ROE(3y)6.47%
ROE(5y)6.54%
ROIC(3y)3.21%
ROIC(5y)3.05%
1.3 Margins
- With a Profit Margin value of 11.55%, EMA is not doing good in the industry: 94.44% of the companies in the same industry are doing better.
- EMA's Profit Margin has declined in the last couple of years.
- EMA has a Operating Margin of 23.36%. This is amonst the worse of the industry: EMA underperforms 88.89% of its industry peers.
- In the last couple of years the Operating Margin of EMA has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.36% | ||
| PM (TTM) | 11.55% | ||
| GM | N/A |
OM growth 3Y1.36%
OM growth 5Y1.88%
PM growth 3Y-2.47%
PM growth 5Y-7.47%
GM growth 3YN/A
GM growth 5YN/A
2. EMA.CA Health Analysis
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so EMA is destroying value.
- EMA has more shares outstanding than it did 1 year ago.
- Compared to 5 years ago, EMA has more shares outstanding
- EMA has a worse debt/assets ratio than last year.
2.2 Solvency
- Based on the Altman-Z score of 0.76, we must say that EMA is in the distress zone and has some risk of bankruptcy.
- The Altman-Z score of EMA (0.76) is better than 83.33% of its industry peers.
- EMA has a Debt/Equity ratio of 1.51. This is a high value indicating a heavy dependency on external financing.
- EMA's Debt to Equity ratio of 1.51 is on the low side compared to the rest of the industry. EMA is outperformed by 94.44% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.51 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.76 |
ROIC/WACC0.63
WACC5.85%
2.3 Liquidity
- EMA has a Current Ratio of 0.66. This is a bad value and indicates that EMA is not financially healthy enough and could expect problems in meeting its short term obligations.
- The Current ratio of EMA (0.66) is better than 61.11% of its industry peers.
- EMA has a Quick Ratio of 0.66. This is a bad value and indicates that EMA is not financially healthy enough and could expect problems in meeting its short term obligations.
- The Quick ratio of EMA (0.54) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.66 | ||
| Quick Ratio | 0.54 |
3. EMA.CA Growth Analysis
3.1 Past
- EMA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 19.05%, which is quite good.
- EMA shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 5.41% yearly.
- Looking at the last year, EMA shows a very strong growth in Revenue. The Revenue has grown by 21.89%.
- EMA shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.77% yearly.
EPS 1Y (TTM)19.05%
EPS 3Y3.03%
EPS 5Y5.41%
EPS Q2Q%-34.52%
Revenue 1Y (TTM)21.89%
Revenue growth 3Y4.97%
Revenue growth 5Y9.77%
Sales Q2Q%13.78%
3.2 Future
- The Earnings Per Share is expected to grow by 5.92% on average over the next years.
- EMA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.35% yearly.
EPS Next Y0.67%
EPS Next 2Y2.1%
EPS Next 3Y4.25%
EPS Next 5Y5.92%
Revenue Next Year-7.43%
Revenue Next 2Y1.45%
Revenue Next 3Y4.35%
Revenue Next 5Y0.35%
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.
4. EMA.CA Valuation Analysis
4.1 Price/Earnings Ratio
- EMA is valuated rather expensively with a Price/Earnings ratio of 20.98.
- Based on the Price/Earnings ratio, EMA is valued expensively inside the industry as 83.33% of the companies are valued cheaper.
- When comparing the Price/Earnings ratio of EMA to the average of the S&P500 Index (25.70), we can say EMA is valued inline with the index average.
- With a Price/Forward Earnings ratio of 20.84, EMA is valued on the expensive side.
- EMA's Price/Forward Earnings ratio is rather expensive when compared to the industry. EMA is more expensive than 83.33% of the companies in the same industry.
- When comparing the Price/Forward Earnings ratio of EMA to the average of the S&P500 Index (23.84), we can say EMA is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.98 | ||
| Fwd PE | 20.84 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, EMA is valued more expensive than 83.33% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 12.3 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates EMA does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)31.31
PEG (5Y)3.88
EPS Next 2Y2.1%
EPS Next 3Y4.25%
5. EMA.CA Dividend Analysis
5.1 Amount
- EMA has a Yearly Dividend Yield of 4.10%, which is a nice return.
- EMA's Dividend Yield is rather good when compared to the industry average which is at 3.80. EMA pays more dividend than 88.89% of the companies in the same industry.
- EMA's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.1% |
5.2 History
- The dividend of EMA has a limited annual growth rate of 3.41%.
- EMA has paid a dividend for at least 10 years, which is a reliable track record.
- EMA has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)3.41%
Div Incr Years18
Div Non Decr Years26
5.3 Sustainability
- 64.20% of the earnings are spent on dividend by EMA. This is not a sustainable payout ratio.
- The dividend of EMA is growing, but earnings are growing more, so the dividend growth is sustainable.
DP64.2%
EPS Next 2Y2.1%
EPS Next 3Y4.25%
EMA.CA Fundamentals: All Metrics, Ratios and Statistics
TSX:EMA (3/13/2026, 7:00:00 PM)
73.43
+0.93 (+1.28%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryElectric Utilities
Earnings (Last)02-23 2026-02-23/bmo
Earnings (Next)05-06 2026-05-06
Inst Owners58.87%
Inst Owner ChangeN/A
Ins Owners0.17%
Ins Owner ChangeN/A
Market Cap22.17B
Revenue(TTM)8.78B
Net Income(TTM)1.01B
Analysts67.37
Price Target71.66 (-2.41%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.1% |
Yearly Dividend2.18
Dividend Growth(5Y)3.41%
DP64.2%
Div Incr Years18
Div Non Decr Years26
Ex-Date01-30 2026-01-30 (0.7325)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.91%
Min EPS beat(2)-2.12%
Max EPS beat(2)0.29%
EPS beat(4)3
Avg EPS beat(4)11.6%
Min EPS beat(4)-2.12%
Max EPS beat(4)27.9%
EPS beat(8)5
Avg EPS beat(8)5.13%
EPS beat(12)7
Avg EPS beat(12)2.4%
EPS beat(16)9
Avg EPS beat(16)3.59%
Revenue beat(2)2
Avg Revenue beat(2)30.92%
Min Revenue beat(2)11.02%
Max Revenue beat(2)50.83%
Revenue beat(4)3
Avg Revenue beat(4)18.43%
Min Revenue beat(4)-7.41%
Max Revenue beat(4)50.83%
Revenue beat(8)3
Avg Revenue beat(8)3.61%
Revenue beat(12)4
Avg Revenue beat(12)1.42%
Revenue beat(16)8
Avg Revenue beat(16)6.2%
PT rev (1m)0.58%
PT rev (3m)2.27%
EPS NQ rev (1m)-16.8%
EPS NQ rev (3m)4.06%
EPS NY rev (1m)-0.78%
EPS NY rev (3m)-0.46%
Revenue NQ rev (1m)-7.76%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-3.91%
Revenue NY rev (3m)-4.72%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.98 | ||
| Fwd PE | 20.84 | ||
| P/S | 2.53 | ||
| P/FCF | N/A | ||
| P/OCF | 12.3 | ||
| P/B | 1.66 | ||
| P/tB | 2.84 | ||
| EV/EBITDA | 12.3 |
EPS(TTM)3.5
EY4.77%
EPS(NY)3.52
Fwd EY4.8%
FCF(TTM)-5.73
FCFYN/A
OCF(TTM)5.97
OCFY8.13%
SpS29.07
BVpS44.33
TBVpS25.84
PEG (NY)31.31
PEG (5Y)3.88
Graham Number59.08
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.26% | ||
| ROE | 7.58% | ||
| ROCE | 5.37% | ||
| ROIC | 3.69% | ||
| ROICexc | 3.72% | ||
| ROICexgc | 4.33% | ||
| OM | 23.36% | ||
| PM (TTM) | 11.55% | ||
| GM | N/A | ||
| FCFM | N/A |
ROA(3y)1.96%
ROA(5y)1.95%
ROE(3y)6.47%
ROE(5y)6.54%
ROIC(3y)3.21%
ROIC(5y)3.05%
ROICexc(3y)3.25%
ROICexc(5y)3.09%
ROICexgc(3y)3.83%
ROICexgc(5y)3.68%
ROCE(3y)4.65%
ROCE(5y)4.47%
ROICexgc growth 3Y0.67%
ROICexgc growth 5Y2.51%
ROICexc growth 3Y1.94%
ROICexc growth 5Y4.14%
OM growth 3Y1.36%
OM growth 5Y1.88%
PM growth 3Y-2.47%
PM growth 5Y-7.47%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.2
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.51 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 6.05 | ||
| Cap/Depr | 272.11% | ||
| Cap/Sales | 40.25% | ||
| Interest Coverage | 2.04 | ||
| Cash Conversion | 53.82% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.66 | ||
| Quick Ratio | 0.54 | ||
| Altman-Z | 0.76 |
F-Score7
WACC5.85%
ROIC/WACC0.63
Cap/Depr(3y)273.22%
Cap/Depr(5y)269.63%
Cap/Sales(3y)40.95%
Cap/Sales(5y)39.6%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)19.05%
EPS 3Y3.03%
EPS 5Y5.41%
EPS Q2Q%-34.52%
EPS Next Y0.67%
EPS Next 2Y2.1%
EPS Next 3Y4.25%
EPS Next 5Y5.92%
Revenue 1Y (TTM)21.89%
Revenue growth 3Y4.97%
Revenue growth 5Y9.77%
Sales Q2Q%13.78%
Revenue Next Year-7.43%
Revenue Next 2Y1.45%
Revenue Next 3Y4.35%
Revenue Next 5Y0.35%
EBIT growth 1Y57.09%
EBIT growth 3Y6.4%
EBIT growth 5Y11.83%
EBIT Next Year92.58%
EBIT Next 3Y31.86%
EBIT Next 5Y23.03%
FCF growth 1Y-242.57%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-31.9%
OCF growth 3Y25.44%
OCF growth 5Y1.94%
EMERA INC / EMA.CA FAQ
What is the fundamental rating for EMA stock?
ChartMill assigns a fundamental rating of 3 / 10 to EMA.CA.
Can you provide the valuation status for EMERA INC?
ChartMill assigns a valuation rating of 1 / 10 to EMERA INC (EMA.CA). This can be considered as Overvalued.
What is the profitability of EMA stock?
EMERA INC (EMA.CA) has a profitability rating of 4 / 10.
What are the PE and PB ratios of EMERA INC (EMA.CA) stock?
The Price/Earnings (PE) ratio for EMERA INC (EMA.CA) is 20.98 and the Price/Book (PB) ratio is 1.66.
What is the expected EPS growth for EMERA INC (EMA.CA) stock?
The Earnings per Share (EPS) of EMERA INC (EMA.CA) is expected to grow by 0.67% in the next year.