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Element Fleet Management

TSX:EFN
Snowflake Description

Moderate growth potential with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
EFN
TSX
CA$5B
Market Cap
  1. Home
  2. CA
  3. Diversified Financials
Company description

Element Fleet Management Corp. operates as a fleet management company in Canada, the United States, and internationally. The last earnings update was 15 days ago. More info.


Add to Portfolio Compare Print
EFN Share Price and Events
7 Day Returns
0.1%
TSX:EFN
0.2%
CA Diversified Financial
0.3%
CA Market
1 Year Returns
68.1%
TSX:EFN
51.7%
CA Diversified Financial
8.5%
CA Market
EFN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Element Fleet Management (EFN) 0.1% 4.3% 12.7% 68.1% 1.7% -21.2%
CA Diversified Financial 0.2% 4.1% 8.3% 51.7% 3.7% -21.2%
CA Market 0.3% 3.1% 3.6% 8.5% 6% 8.7%
1 Year Return vs Industry and Market
  • EFN outperformed the Diversified Financial industry which returned 51.7% over the past year.
  • EFN outperformed the Market in Canada which returned 8.5% over the past year.
Price Volatility
EFN
Industry
5yr Volatility vs Market
Related Companies

EFN Value

 Is Element Fleet Management undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Element Fleet Management to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Element Fleet Management.

TSX:EFN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 7 analysts.
= Stable Book Value * Return on Equity
= CA$8.37 * 12.2%
CA$1.02
Book Value of Equity per Share Weighted future Book Value estimates from 8 analysts. CA$8.37
Discount Rate (Cost of Equity) See below 12.3%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:EFN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Diversified Financial Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.724 (1 + (1- 26.5%) (259.08%))
1.738
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.74
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.738 * 5.96%)
12.31%

Discounted Cash Flow Calculation for TSX:EFN using Excess Returns Model Model

The calculations below outline how an intrinsic value for Element Fleet Management is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

TSX:EFN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.2% – 12.31%) * CA$8.37)
CA$-0.01
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CA$-0.01 / (12.31% - 1.95%)
CA$-0.05
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CA$8.37 + CA$-0.05
CA$8.31
TSX:EFN Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$8.31
Current discount Discount to share price of CA$11.55
= -1 x (CA$11.55 - CA$8.31) / CA$8.31
-38.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Element Fleet Management is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Element Fleet Management's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Element Fleet Management's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:EFN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in CAD CA$0.49
TSX:EFN Share Price ** TSX (2019-11-20) in CAD CA$11.55
Canada Diversified Financial Industry PE Ratio Median Figure of 9 Publicly-Listed Diversified Financial Companies 10.96x
Canada Market PE Ratio Median Figure of 519 Publicly-Listed Companies 14.39x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Element Fleet Management.

TSX:EFN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:EFN Share Price ÷ EPS (both in CAD)

= 11.55 ÷ 0.49

23.62x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Element Fleet Management is overvalued based on earnings compared to the CA Diversified Financial industry average.
  • Element Fleet Management is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Element Fleet Management's expected growth come at a high price?
Raw Data
TSX:EFN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.62x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
32.7%per year
North America Diversified Financial Industry PEG Ratio Median Figure of 11 Publicly-Listed Diversified Financial Companies 0.88x
Canada Market PEG Ratio Median Figure of 242 Publicly-Listed Companies 1.04x

*Line of best fit is calculated by linear regression .

TSX:EFN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.62x ÷ 32.7%

0.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Element Fleet Management is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Element Fleet Management's assets?
Raw Data
TSX:EFN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in CAD CA$7.60
TSX:EFN Share Price * TSX (2019-11-20) in CAD CA$11.55
Canada Diversified Financial Industry PB Ratio Median Figure of 12 Publicly-Listed Diversified Financial Companies 1.09x
Canada Market PB Ratio Median Figure of 2,293 Publicly-Listed Companies 1.25x
TSX:EFN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:EFN Share Price ÷ Book Value per Share (both in CAD)

= 11.55 ÷ 7.60

1.52x

* Primary Listing of Element Fleet Management.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Element Fleet Management is overvalued based on assets compared to the CA Diversified Financial industry average.
X
Value checks
We assess Element Fleet Management's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Diversified Financial industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Diversified Financial industry average (and greater than 0)? (1 check)
  5. Element Fleet Management has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

EFN Future Performance

 How is Element Fleet Management expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
32.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Element Fleet Management expected to grow at an attractive rate?
  • Element Fleet Management's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Element Fleet Management's earnings growth is expected to exceed the Canada market average.
  • Element Fleet Management's revenues are expected to decrease over the next 1-3 years, this is below the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:EFN Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:EFN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 32.7%
TSX:EFN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts -2.1%
North America Diversified Financial Industry Earnings Growth Rate Market Cap Weighted Average -14.7%
North America Diversified Financial Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
Canada Market Earnings Growth Rate Market Cap Weighted Average 9.7%
Canada Market Revenue Growth Rate Market Cap Weighted Average 4.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:EFN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:EFN Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,084 481 3
2020-12-31 1,021 384 3
2019-12-31 986 276 3
2019-11-21
TSX:EFN Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-09-30 1,449 344 211
2019-06-30 927 541 -200
2019-03-31 880 70 -185
2018-12-31 822 -270 -243
2018-09-30 828 248 -286
2018-06-30 1,308 565 122
2018-03-31 1,326 297 81
2017-12-31 1,345 61 113
2017-09-30 1,372 81 121
2017-06-30 1,368 -376 92
2017-03-31 1,348 -39 132
2016-12-31 1,364 494 155

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Element Fleet Management's earnings are expected to grow significantly at over 20% yearly.
  • Element Fleet Management's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:EFN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Element Fleet Management Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:EFN Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.98 1.05 0.87 4.00
2020-12-31 0.83 1.00 0.65 5.00
2019-12-31 0.58 0.61 0.55 5.00
2019-11-21
TSX:EFN Past Financials Data
Date (Data in CAD Millions) EPS *
2019-09-30 0.49
2019-06-30 -0.48
2019-03-31 -0.46
2018-12-31 -0.62
2018-09-30 -0.75
2018-06-30 0.32
2018-03-31 0.21
2017-12-31 0.29
2017-09-30 0.31
2017-06-30 0.24
2017-03-31 0.34
2016-12-31 0.40

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Element Fleet Management is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Element Fleet Management's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the North America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the North America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Element Fleet Management has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

EFN Past Performance

  How has Element Fleet Management performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Element Fleet Management's growth in the last year to its industry (Diversified Financial).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Element Fleet Management's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Element Fleet Management has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Element Fleet Management has become profitable in the last year making it difficult to compare the North America Diversified Financial industry average.
Earnings and Revenue History
Element Fleet Management's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Element Fleet Management Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:EFN Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 1,448.89 211.36 468.80
2019-06-30 927.15 -199.89 482.61
2019-03-31 879.51 -184.76 480.17
2018-12-31 822.45 -243.38 485.74
2018-09-30 828.03 -285.99 489.65
2018-06-30 1,307.82 122.30 485.58
2018-03-31 1,326.04 81.10 492.37
2017-12-31 1,345.32 113.34 489.38
2017-09-30 1,372.21 120.98 467.69
2017-06-30 1,368.08 91.60 472.12
2017-03-31 1,348.18 131.76 469.37
2016-12-31 1,364.45 154.62 483.87
2016-09-30 1,323.71 223.44 496.34
2016-06-30 1,125.52 158.30 435.52
2016-03-31 834.70 56.02 351.19
2015-12-31 624.24 33.61 280.90
2015-09-30 449.45 10.65 223.00
2015-06-30 430.61 22.97 213.71
2015-03-31 447.02 65.13 202.33
2014-12-31 351.07 35.13 163.32
2014-09-30 240.72 -6.41 121.42
2014-06-30 162.75 27.50 82.29
2014-03-31 133.72 6.75 70.94
2013-12-31 111.55 -1.96 60.28
2013-09-30 92.69 -4.75 51.48
2013-06-30 73.48 -9.56 42.34
2013-03-31 54.94 -1.47 33.27
2012-12-31 36.85 -6.42 25.05

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Element Fleet Management has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Element Fleet Management used its assets less efficiently than the CA Diversified Financial industry average last year based on Return on Assets.
  • Unable to establish if Element Fleet Management improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Element Fleet Management's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Diversified Financial industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Element Fleet Management has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

EFN Health

 How is Element Fleet Management's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Element Fleet Management's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Element Fleet Management is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Element Fleet Management's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Element Fleet Management's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Element Fleet Management Company Filings, last reported 1 month ago.

TSX:EFN Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 3,988.43 12,922.91 100.69
2019-06-30 3,937.35 12,967.28 150.41
2019-03-31 3,955.55 13,683.65 183.41
2018-12-31 3,975.49 14,236.68 165.89
2018-09-30 3,452.68 13,337.57 180.08
2018-06-30 3,877.57 13,913.42 248.63
2018-03-31 3,802.47 13,649.62 233.23
2017-12-31 3,740.08 13,217.13 242.93
2017-09-30 3,786.19 13,241.93 75.64
2017-06-30 4,012.90 14,142.47 65.53
2017-03-31 3,978.72 14,160.93 61.53
2016-12-31 3,981.35 13,866.76 79.88
2016-09-30 3,856.05 13,810.93 41.40
2016-06-30 5,440.44 17,926.42 118.76
2016-03-31 5,401.58 17,934.54 57.96
2015-12-31 5,717.08 18,731.87 74.88
2015-09-30 5,377.35 17,473.19 63.29
2015-06-30 3,269.85 9,528.62 132.58
2015-03-31 3,058.64 9,110.92 34.24
2014-12-31 2,830.95 8,065.74 72.62
2014-09-30 2,723.44 7,302.35 52.20
2014-06-30 1,726.33 2,693.69 36.25
2014-03-31 1,610.78 2,474.76 43.22
2013-12-31 1,446.66 1,896.92 12.40
2013-09-30 889.07 1,717.25 52.26
2013-06-30 879.56 1,541.57 41.53
2013-03-31 595.91 1,034.32 68.44
2012-12-31 423.43 989.77 10.00
  • Element Fleet Management's level of debt (324%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (268.3% vs 324% today).
  • Debt is not well covered by operating cash flow (2.7%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Element Fleet Management's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Element Fleet Management's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Element Fleet Management has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

EFN Dividends

 What is Element Fleet Management's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.56%
Current annual income from Element Fleet Management dividends. Estimated to be 1.83% next year.
If you bought CA$2,000 of Element Fleet Management shares you are expected to receive CA$31 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Element Fleet Management's pays a lower dividend yield than the bottom 25% of dividend payers in Canada (1.99%).
  • Element Fleet Management's dividend is below the markets top 25% of dividend payers in Canada (5.75%).
Upcoming dividend payment

Purchase Element Fleet Management before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:EFN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
Canada Diversified Financial Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 1.9%
Canada Market Average Dividend Yield Market Cap Weighted Average of 331 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:EFN Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.27 3.00
2020-12-31 0.18 3.00
2019-12-31 0.18 3.00
2019-11-21
TSX:EFN Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-11-06 0.180 1.564
2019-05-07 0.180 1.752
2018-11-05 0.180 2.400
2018-08-14 0.300 4.079
2018-05-15 0.300 4.904
2017-11-08 0.300 4.900
2017-08-10 0.300 3.255
2017-05-10 0.300 3.113
2017-03-09 0.300 2.446
2016-11-14 0.100 0.790
2016-08-11 0.100 0.733
2016-05-11 0.100 0.690
2015-11-10 0.100 0.664

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Element Fleet Management has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Element Fleet Management only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Element Fleet Management's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.5x coverage).
X
Income/ dividend checks
We assess Element Fleet Management's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Element Fleet Management afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Element Fleet Management has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

EFN Management

 What is the CEO of Element Fleet Management's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jay Forbes
COMPENSATION CA$5,166,550
AGE 58
TENURE AS CEO 1.4 years
CEO Bio

Mr. Jay A. Forbes, FCA, FCPA has been Chief Executive Officer of Element Fleet Management Corp., since June 1, 2018 and serves as its President. Mr. Forbes served as Chief Executive Officer of Bell MTS Inc. (also known as Manitoba Telecom Services Inc.) from January 1, 2015 to March 17, 2017 and served as its President from October 31, 2015 to March 17, 2017. Mr. Forbes served as Chief Executive Officer and President of Teranet Inc. from July 2, 2009 to January 2013. He served as the Chief Executive Officer and President of Teranet Holdings Limited Partnership until January 2013. He served as a Corporate Director at The Conference Board of Canada. He served as the President of Ingram Micro Europe GmbH. He served as the President of Innovatia Inc. He served as Senior Executive Vice President of Ingram Micro Inc. and served as President of Ingram Micro EMEA since January 2008. Mr. Forbes served as the President at Ingram Micro Inc. He served as an Executive Vice President of Ingram Micro Inc. since September 3, 2007. He served as the President and Chief Executive Officer of Bell Aliant Regional Communications Inc (Bell Aliant Regional Communications Holdings, Limited Partnership (also known as Bell Aliant Regional Communications Income Fund (formerly known as Aliant Inc.) from March 2002 to July 31, 2006. He served as an Acting Chief Financial Officer of Bell Aliant Regional Communications Holdings, Limited Partnership, until September 2005. Mr. Forbes joined Bell Aliant Regional Communications Holdings, Limited Partnership as an Executive Vice President and Chief Financial Officer in February 2001. Prior to that, he served as an Executive Vice President of Corporate Resources and Chief Financial Officer of Oxford Properties Group Inc. He served as the Chief Financial Officer and Senior Vice President of Emera Incorporated. He serves as a Director of Atlantic Provinces Economic Council, Dalhousie School of Business and serves as John Regional Hospital Foundation. Mr. Forbes has been Director of Economical Insurance Group Ltd since September 1, 2017. He serves as a Member of several business and professional organizations including the Canadian Institute of Chartered Accountants and the Canada Council of Chief Executives. He has been an Executive Director of Element Fleet Management Corp. since May 14, 2018. He is a Director at Economical Mutual Insurance Company since May 07, 2018. He served as a Director of Bell MTS Inc. from January 1, 2015 to March 17, 2017. He served as a Director of The Conference Board of Canada. He served as a Director of Bell Aliant Regional Communications Holdings, Limited Partnership since April 19, 2002. He served as a Director of Stratos Global Corporation since May 17, 2001. Mr. Forbes is a Top 40 Under 40 as well as a Top 50 CEO Award recipient. Mr. Forbes earned a Bachelor’s degree in Commerce and Marketing from Dalhousie University where he graduated class valedictorian in 1983. He also completed Duke University’s Strategic Financial Management Program and Harvard University’s Strategic Elements of Financial Management Program. He earned his Chartered Accountant Fellowship in 2005. He is a Fellow of the Chartered Professional Accountants of Nova Scotia (FPCA, FCA), and has completed the Institute of Corporate Directors program.

CEO Compensation
  • Insufficient data for Jay to compare compensation growth.
  • Jay's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Element Fleet Management management team in years:

1.6
Average Tenure
55
Average Age
  • The average tenure for the Element Fleet Management management team is less than 2 years, this suggests a new team.
Management Team

Jay Forbes

TITLE
CEO, President & Executive Director
COMPENSATION
CA$5M
AGE
58
TENURE
1.4 yrs

Vito Culmone

TITLE
Executive VP & CFO
COMPENSATION
CA$3M
AGE
55
TENURE
1.3 yrs

Jim Halliday

TITLE
Executive VP & COO
COMPENSATION
CA$4M
AGE
47
TENURE
1 yrs

Jon Parker

TITLE
Executive VP of Enterprise
COMPENSATION
CA$2M
TENURE
1.8 yrs

Vineet Gupta

TITLE
Executive VP & CTO
TENURE
0.8 yrs

Zev Korman

TITLE
Senior Vice President of Investor Relations

David Colman

TITLE
Executive VP

Scott Davidson

TITLE
Executive VP of Corporate Development
TENURE
1.8 yrs

Jacqui McGillivray

TITLE
Executive VP & Chief People Officer
TENURE
1.8 yrs

Imran Hussein

TITLE
Managing Director
TENURE
5.4 yrs
Board of Directors Tenure

Average tenure and age of the Element Fleet Management board of directors in years:

1.5
Average Tenure
62
Average Age
  • The average tenure for the Element Fleet Management board of directors is less than 3 years, this suggests a new board.
Board of Directors

David Denison

TITLE
Independent Chairman of the Board
COMPENSATION
CA$3K
AGE
67
TENURE
0.8 yrs

Jay Forbes

TITLE
CEO, President & Executive Director
COMPENSATION
CA$5M
AGE
58
TENURE
1.5 yrs

Joan Lamm-Tennant

TITLE
Independent Director
COMPENSATION
CA$216K
AGE
66
TENURE
5.4 yrs

Paul Damp

TITLE
Independent Director
COMPENSATION
CA$171K
AGE
63
TENURE
3.1 yrs

Rubin McDougal

TITLE
Independent Director
COMPENSATION
CA$122K
AGE
62
TENURE
1.5 yrs

G. Graham

TITLE
Independent Director
COMPENSATION
CA$95K
AGE
57
TENURE
1.5 yrs

Andrew Clarke

TITLE
Independent Director
COMPENSATION
CA$101K
AGE
48
TENURE
1.4 yrs

Alex Greene

TITLE
Independent Director
COMPENSATION
CA$101K
AGE
60
TENURE
1.4 yrs

Andrea Rosen

TITLE
Independent Director
AGE
65
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Element Fleet Management individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
11. Nov 19 Buy Tom Peterson Individual 11. Sep 19 11. Sep 19 2,500 CA$10.89 CA$26,996
11. Nov 19 Buy Jacqueline Angela McGillivray Individual 08. Nov 19 08. Nov 19 2,430 CA$11.27 CA$27,386
08. Nov 19 Buy David Colman Individual 08. Nov 19 08. Nov 19 3,500 CA$11.46 CA$40,110
24. Sep 19 Buy Vineet Gupta Individual 24. Sep 19 24. Sep 19 10,000 CA$10.59 CA$105,900
24. Jun 19 Buy Jacqueline Angela McGillivray Individual 24. Jun 19 24. Jun 19 2,570 CA$9.70 CA$24,929
14. Jun 19 Buy Vineet Gupta Individual 14. Jun 19 14. Jun 19 10,000 CA$9.84 CA$98,400
14. Jun 19 Sell David Colman Individual 14. Jun 19 14. Jun 19 -1,000 CA$9.81 CA$-9,810
14. Jun 19 Buy David Colman Individual 14. Jun 19 14. Jun 19 1,500 CA$9.82 CA$14,730
03. Jun 19 Buy Vineet Gupta Individual 03. Jun 19 03. Jun 19 10,000 CA$9.76 CA$97,550
10. May 19 Buy Scott Davidson Individual 10. May 19 10. May 19 14,000 CA$9.55 CA$133,630
18. Dec 18 Buy David Denison Individual 14. Dec 18 14. Dec 18 30,000 CA$7.07 CA$212,202
14. Dec 18 Buy G. Graham Individual 14. Dec 18 14. Dec 18 25,000 CA$6.84 CA$171,000
X
Management checks
We assess Element Fleet Management's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Element Fleet Management has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

EFN News

Simply Wall St News

Could Element Fleet Management Corp.'s (TSE:EFN) Investor Composition Influence The Stock Price?

Check out our latest analysis for Element Fleet Management TSX:EFN Ownership Summary, August 19th 2019 What Does The Institutional Ownership Tell Us About Element Fleet Management? … We can see that Element Fleet Management does have institutional investors; and they hold 40% of the stock. … General Public Ownership The general public, who are mostly retail investors, collectively hold 60% of Element Fleet Management shares.

Simply Wall St -

Element Fleet Management (TSE:EFN) Shareholders Have Enjoyed A 73% Share Price Gain

(TSE:EFN) share price is up 73% in the last year, clearly besting than the market return of around -1.9% (not including dividends). … As it happens, Element Fleet Management's TSR for the last year was 78%, which exceeds the share price return mentioned earlier. … A Different Perspective We're pleased to report that Element Fleet Management shareholders have received a total shareholder return of 78% over one year.

Simply Wall St -

Is Element Fleet Management Corp. (TSE:EFN) A Good Dividend Stock?

Element Fleet Management has been paying a dividend for the past four years. … This works out to be a compound annual growth rate (CAGR) of approximately 16% a year over that time. The growth in dividends has not been linear, but the CAGR is a decent approximation of the rate of change over this time frame. Element Fleet Management has grown distributions at a rapid rate despite cutting the dividend at least once in the past. Companies that cut once often cut again, but it might be worth considering if the business has turned a corner. Dividend Growth Potential Given that the dividend has been cut in the past, we need to check if earnings are growing and if that might lead to stronger dividends in the future. Over the past five years, it looks as though Element Fleet Management's EPS have declined at around 26% a year. Declining earnings per share over a number of years is not a great sign for the dividend investor. Without some improvement, this does not bode well for the long term value of a company's dividend. We'd also point out that Element Fleet Management issued a meaningful number of new shares in the past year. Trying to grow the dividend when issuing new shares reminds us of the ancient Greek tale of Sisyphus - perpetually pushing a boulder uphill. Companies that consistently issue new shares are often suboptimal from a dividend perspective. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … In short, we're not keen on Element Fleet Management from a dividend perspective.

Simply Wall St -

Zooming in on TSE:EFN's 1.8% Dividend Yield

Looking at the data, we can see that Element Fleet Management has been paying a dividend for the past four years. … Dividend Growth Potential With a relatively unstable dividend, it's even more important to see if earnings per share (EPS) are growing. Why take the risk of a dividend getting cut, unless there's a good chance of bigger dividends in future? It's not great to see that Element Fleet Management's have fallen at approximately 26% over the past five years. If earnings continue to decline, the dividend may come under pressure. Every investor should make an assessment of whether the company is taking steps to stabilise the situation. We'd also point out that Element Fleet Management issued a meaningful number of new shares in the past year. Regularly issuing new shares can be detrimental - it's hard to grow dividends per share when new shares are regularly being created. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Earnings per share are down, and Element Fleet Management's dividend has been cut at least once in the past, which is disappointing.

Simply Wall St -

Does The Element Fleet Management Corp. (TSE:EFN) Share Price Tend To Follow The Market?

(TSE:EFN), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Given that it has a beta of 0.80, we can surmise that the Element Fleet Management share price has not been strongly impacted by broader market volatility (over the last 5 years).

Simply Wall St -

Are Insiders Buying Element Fleet Management Corp. (TSE:EFN) Stock?

So we'll take a look at whether insiders have been buying or selling shares in Element Fleet Management Corp. … Element Fleet Management Insider Transactions Over The Last Year … Over the last year, we can see that the biggest insider purchase was by CEO & Executive Director Jay Forbes for CA$1.2m worth of shares, at about CA$5.77 per share

Simply Wall St -

Element Fleet Management (TSE:EFN) Shareholders Booked A 71% Gain In The Last Year

Element Fleet Management isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … In the last year Element Fleet Management saw its revenue shrink by 39%. … We can correlate the share price rise with revenue or profit growth, but it seems the market had previously expected weaker results, and sentiment around the stock is improving.

Simply Wall St -

What Kind Of Shareholders Own Element Fleet Management Corp. (TSE:EFN)?

If you want to know who really controls Element Fleet Management Corp. … Generally speaking, as a company grows, institutions will increase their ownership. … Element Fleet Management has a market capitalization of CA$3.2b, so we would expect some institutional investors to have noticed the stock.

Simply Wall St -

Should You Investigate Element Fleet Management Corp. (TSE:EFN) At CA$7.50?

Element Fleet Management Corp. … (TSE:EFN), which is in the diversified financial business, and is based in Canada,. … Let’s take a look at Element Fleet Management’s outlook and value based on the most recent financial data to see if the opportunity still exists

Simply Wall St -

Need To Know: Element Fleet Management Corp. (TSE:EFN) Insiders Have Been Buying Shares

So we'll take a look at whether insiders have been buying or selling shares in Element Fleet Management Corp. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Element Fleet Management Insider Transactions Over The Last Year.

Simply Wall St -

EFN Company Info

Description

Element Fleet Management Corp. operates as a fleet management company in Canada, the United States, and internationally. The company offers fleet management services, including acquisition, financing, program management, and remarketing services for cars and light duty vehicles, medium and heavy duty trucks, material handling equipment, automobiles, and specialty vehicles and equipment, as well as corporate, municipal, and industrial fleets. It serves agriculture, business service, chemical, construction, consumer product, education and non-profit, energy, food and beverage, insurance, manufacturing, pharmaceutical and healthcare, professional service, telecommunication, transportation, and utility industries. The company was founded in 2007 and is headquartered in Toronto, Canada.

Details
Name: Element Fleet Management Corp.
EFN
Exchange: TSX
Founded: 2007
CA$5,026,897,999
435,229,264
Website: http://www.elementfleet.com
Address: Element Fleet Management Corp.
161 Bay Street,
Suite 3600,
Toronto,
Ontario, M5J 2S1,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX EFN Common Stock The Toronto Stock Exchange CA CAD 16. Dec 2011
OTCPK ELEE.F Common Stock Pink Sheets LLC US USD 16. Dec 2011
DB 61F Common Stock Deutsche Boerse AG DE EUR 16. Dec 2011
TSX EFN.PRA ELEMENT FL The Toronto Stock Exchange CA CAD 17. Dec 2013
TSX EFN.PRI CUM PFD SHS I The Toronto Stock Exchange CA CAD 05. May 2017
TSX EFN.PRG PFD SER G 6.5% The Toronto Stock Exchange CA CAD 01. Jun 2015
TSX EFN.PRC 6.5% 5 YR PFD C The Toronto Stock Exchange CA CAD 07. Mar 2014
Number of employees
Current staff
Staff numbers
2,600
Element Fleet Management employees.
Industry
Specialized Finance
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/21 00:20
End of day share price update: 2019/11/20 00:00
Last estimates confirmation: 2019/11/14
Last earnings filing: 2019/11/06
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.