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Parkland Fuel

TSX:PKI
Snowflake Description

Solid track record average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PKI
TSX
CA$4B
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

Parkland Fuel Corporation operates as a marketer, distributor, and refiner of fuel and petroleum products in Canada and the United States. The last earnings update was 23 days ago. More info.


Add to Portfolio Compare Print
  • Parkland Fuel has significant price volatility in the past 3 months.
PKI Share Price and Events
7 Day Returns
1.4%
TSX:PKI
15.2%
CA Oil and Gas
11.4%
CA Market
1 Year Returns
-40.7%
TSX:PKI
-41.5%
CA Oil and Gas
-22%
CA Market
PKI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Parkland Fuel (PKI) 1.4% -43% -49.7% -40.7% -18.2% -3%
CA Oil and Gas 15.2% -37.6% -42.4% -41.5% -49.8% -53.6%
CA Market 11.4% -22.2% -23.5% -22% -19.8% -13.3%
1 Year Return vs Industry and Market
  • PKI matched the Oil and Gas industry (-41.5%) over the past year.
  • PKI underperformed the Market in Canada which returned -22% over the past year.
Price Volatility
PKI
Industry
5yr Volatility vs Market

PKI Value

 Is Parkland Fuel 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 Parkland Fuel 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 Parkland Fuel.

TSX:PKI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

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:PKI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.83
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.825 (1 + (1- 26.5%) (100.77%))
1.293
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.29
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (1.293 * 5.44%)
8.47%

Discounted Cash Flow Calculation for TSX:PKI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Parkland Fuel is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

TSX:PKI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 8.47%)
2020 277.19 Analyst x6 255.54
2021 386.28 Analyst x5 328.30
2022 559.00 Analyst x1 437.98
2023 582.08 Est @ 4.13% 420.44
2024 601.41 Est @ 3.32% 400.48
2025 617.99 Est @ 2.76% 379.38
2026 632.59 Est @ 2.36% 358.01
2027 645.78 Est @ 2.09% 336.93
2028 658.00 Est @ 1.89% 316.49
2029 669.56 Est @ 1.76% 296.90
Present value of next 10 years cash flows CA$3,530.00
TSX:PKI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$669.56 × (1 + 1.44%) ÷ (8.47% – 1.44%)
CA$9,658.54
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$9,658.54 ÷ (1 + 8.47%)10
CA$4,282.83
TSX:PKI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$3,530.00 + CA$4,282.83
CA$7,812.83
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$7,812.83 / 148.31
CA$52.68
TSX:PKI Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$52.68
Current discount Discount to share price of CA$24.20
= -1 x (CA$24.20 - CA$52.68) / CA$52.68
54.1%

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

Current Discount
Amount off the current price Parkland Fuel is available for.
Intrinsic value
>50%
Share price is CA$24.2 vs Future cash flow value of CA$52.68
Current Discount Checks
For Parkland Fuel to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Parkland Fuel's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Parkland Fuel's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Parkland Fuel's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Parkland Fuel's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:PKI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$2.60
TSX:PKI Share Price ** TSX (2020-03-27) in CAD CA$24.2
Canada Oil and Gas Industry PE Ratio Median Figure of 55 Publicly-Listed Oil and Gas Companies 6.35x
Canada Market PE Ratio Median Figure of 499 Publicly-Listed Companies 10.74x

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

** Primary Listing of Parkland Fuel.

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

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

= 24.2 ÷ 2.60

9.31x

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

  • Parkland Fuel is overvalued based on earnings compared to the CA Oil and Gas industry average.
  • Parkland Fuel is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does Parkland Fuel's expected growth come at a high price?
Raw Data
TSX:PKI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
-3.6%per year
Canada Oil and Gas Industry PEG Ratio Median Figure of 29 Publicly-Listed Oil and Gas Companies -0.04x
Canada Market PEG Ratio Median Figure of 234 Publicly-Listed Companies 0.69x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.31x ÷ -3.6%

-2.6x

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

  • Parkland Fuel earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Parkland Fuel's assets?
Raw Data
TSX:PKI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$13.21
TSX:PKI Share Price * TSX (2020-03-27) in CAD CA$24.2
Canada Oil and Gas Industry PB Ratio Median Figure of 198 Publicly-Listed Oil and Gas Companies 0.38x
Canada Market PB Ratio Median Figure of 2,352 Publicly-Listed Companies 1x
TSX:PKI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 24.2 ÷ 13.21

1.83x

* Primary Listing of Parkland Fuel.

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

  • Parkland Fuel is overvalued based on assets compared to the CA Oil and Gas industry average.
X
Value checks
We assess Parkland Fuel'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 Oil and Gas 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 Oil and Gas industry average (and greater than 0)? (1 check)
  5. Parkland Fuel has a total score of 3/6, 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.

PKI Future Performance

 How is Parkland Fuel expected to perform in the next 1 to 3 years based on estimates from 11 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
-3.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Parkland Fuel expected to grow at an attractive rate?
  • Parkland Fuel's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.4%.
Growth vs Market Checks
  • Parkland Fuel's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
  • Parkland Fuel's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:PKI Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:PKI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts -3.6%
TSX:PKI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 1.6%
Canada Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average -3.9%
Canada Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.7%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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:PKI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:PKI Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 19,078 795 369 1
2021-12-31 19,042 847 311 11
2020-12-31 18,135 772 199 11
2020-03-28
TSX:PKI Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 18,453 897 382
2019-09-30 17,180 894 283
2019-06-30 16,386 924 308
2019-03-31 15,315 504 263
2018-12-31 14,442 461 206
2018-09-30 14,305 356 178
2018-06-30 13,094 374 141
2018-03-31 11,117 315 80
2017-12-31 9,560 262 82
2017-09-30 7,931 193 36
2017-06-30 6,969 109 39
2017-03-31 6,733 178 44

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Parkland Fuel's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Parkland Fuel's revenue is expected to grow by 1.6% yearly, however this is not considered high growth (20% yearly).
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:PKI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Parkland Fuel Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:PKI Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 2.25 2.25 2.25 1.00
2021-12-31 1.86 2.44 1.22 8.00
2020-12-31 1.13 1.78 0.61 8.00
2020-03-28
TSX:PKI Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 2.60
2019-09-30 1.98
2019-06-30 2.21
2019-03-31 1.94
2018-12-31 1.56
2018-09-30 1.35
2018-06-30 1.07
2018-03-31 0.63
2017-12-31 0.70
2017-09-30 0.33
2017-06-30 0.39
2017-03-31 0.46

*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.
  • Parkland Fuel is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Parkland Fuel'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 Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada 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.
Parkland Fuel has a total score of 0/6, 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.

PKI Past Performance

  How has Parkland Fuel 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 Parkland Fuel's growth in the last year to its industry (Oil and Gas).
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.
  • Parkland Fuel has delivered over 20% year on year earnings growth in the past 5 years.
  • Parkland Fuel's 1-year earnings growth exceeds its 5-year average (85.4% vs 50.6%)
  • Parkland Fuel's earnings growth has exceeded the CA Oil and Gas industry average in the past year (85.4% vs -0.1%).
Earnings and Revenue History
Parkland Fuel'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 Parkland Fuel Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:PKI Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 18,453.00 382.00 1,491.00
2019-09-30 17,180.00 283.00 1,386.00
2019-06-30 16,386.00 308.00 1,291.00
2019-03-31 15,315.00 263.00 1,193.00
2018-12-31 14,442.00 206.00 1,108.00
2018-09-30 14,305.00 178.00 1,077.00
2018-06-30 13,094.00 141.00 982.00
2018-03-31 11,117.00 80.00 832.00
2017-12-31 9,560.00 82.00 676.00
2017-09-30 7,931.00 36.00 524.00
2017-06-30 6,969.10 38.70 465.20
2017-03-31 6,732.90 44.30 461.80
2016-12-31 6,266.00 47.20 454.20
2016-09-30 6,181.83 59.88 448.51
2016-06-30 6,405.96 59.75 445.68
2016-03-31 6,226.07 44.62 429.66
2015-12-31 6,299.60 39.50 414.80
2015-09-30 6,382.25 34.04 392.33
2015-06-30 6,418.71 29.90 367.04
2015-03-31 6,901.90 47.34 359.08
2014-12-31 7,527.64 49.88 359.95
2014-09-30 7,388.02 61.69 368.01
2014-06-30 6,998.37 70.33 353.21
2014-03-31 6,467.96 83.74 335.38
2013-12-31 5,663.42 91.96 301.87
2013-09-30 5,062.97 79.50 263.10
2013-06-30 4,613.47 92.26 246.62
2013-03-31 4,282.10 97.87 232.93

*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.
  • Parkland Fuel has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Parkland Fuel used its assets more efficiently than the CA Oil and Gas industry average last year based on Return on Assets.
  • Parkland Fuel has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Parkland Fuel'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 Oil and Gas 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.
Parkland Fuel has a total score of 5/6, 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.

PKI Health

 How is Parkland Fuel'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 Parkland Fuel's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Parkland Fuel is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Parkland Fuel's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Parkland Fuel'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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x 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 Parkland Fuel Company Filings, last reported 2 months ago.

TSX:PKI Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 2,309.00 3,412.00 244.00
2019-09-30 2,243.00 3,361.00 290.00
2019-06-30 2,228.00 3,259.00 330.00
2019-03-31 2,166.00 3,446.00 251.00
2018-12-31 1,801.00 2,257.00 40.00
2018-09-30 1,710.00 2,164.00 20.00
2018-06-30 1,683.00 2,049.00 74.00
2018-03-31 1,642.00 2,037.00 32.00
2017-12-31 1,645.00 2,009.00 23.00
2017-09-30 1,515.80 2,364.90 24.80
2017-06-30 1,587.10 1,858.70 5.60
2017-03-31 806.70 828.60 18.30
2016-12-31 803.90 836.50 25.60
2016-09-30 812.95 770.33 16.80
2016-06-30 812.99 424.55 38.25
2016-03-31 823.17 436.54 23.27
2015-12-31 812.60 460.70 36.70
2015-09-30 752.81 483.81 29.63
2015-06-30 737.47 495.70 30.94
2015-03-31 602.96 487.97 281.87
2014-12-31 569.85 487.17 203.26
2014-09-30 485.62 434.82 47.64
2014-06-30 472.32 434.64 12.28
2014-03-31 477.15 469.49 8.71
2013-12-31 429.82 354.60 8.99
2013-09-30 419.33 310.15 6.46
2013-06-30 405.13 252.98 4.32
2013-03-31 389.72 331.44 22.47
  • Parkland Fuel's level of debt (147.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (85.4% vs 147.8% today).
  • Debt is well covered by operating cash flow (26.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.4x coverage).
X
Financial health checks
We assess Parkland Fuel'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. Parkland Fuel has a total score of 3/6, 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.

PKI Dividends

 What is Parkland Fuel'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
5.02%
Current annual income from Parkland Fuel dividends. Estimated to be 5.03% next year.
If you bought CA$2,000 of Parkland Fuel shares you are expected to receive CA$100 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?
  • Parkland Fuel's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.7%).
  • Parkland Fuel's dividend is below the markets top 25% of dividend payers in Canada (8.48%).
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:PKI 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 11 Analyst Estimates (S&P Global) See Below
Canada Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 8%
Canada Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 4.7%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.3%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.5%

Industry and Market average data is calculated daily.

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

TSX:PKI Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 1.23 2.00
2021-12-31 1.22 8.00
2020-12-31 1.21 9.00
2020-03-28
TSX:PKI Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-03-06 1.214 4.592
2020-02-12 1.194 2.733
2020-01-13 1.194 2.530
2019-12-11 1.194 2.495
2019-11-13 1.194 2.546
2019-10-10 1.194 2.652
2019-09-11 1.194 2.760
2019-08-13 1.194 2.816
2019-07-11 1.194 2.742
2019-06-12 1.194 2.856
2019-05-13 1.194 2.907
2019-04-11 1.194 2.940
2019-03-13 1.194 2.966
2019-02-13 1.174 3.083
2019-01-11 1.174 3.184
2018-12-12 1.174 3.395
2018-11-13 1.174 3.115
2018-10-11 1.174 2.705
2018-09-12 1.174 2.733
2018-08-13 1.174 2.874
2018-07-11 1.174 3.281
2018-06-13 1.174 3.611
2018-05-11 1.174 3.755
2018-04-11 1.174 3.917
2018-03-01 1.174 3.996
2018-02-13 1.154 3.983
2018-01-11 1.154 4.078
2017-12-19 1.154 4.283
2017-11-13 1.154 4.497
2017-10-11 1.154 4.529
2017-09-13 1.154 4.448
2017-08-11 1.154 4.423
2017-07-12 1.154 4.240
2017-06-13 1.154 3.901
2017-05-11 1.154 3.729
2017-04-11 1.154 3.876
2017-03-03 1.154 4.026
2017-02-13 1.134 4.152
2017-01-11 1.134 4.138
2016-12-13 1.134 4.089
2016-11-11 1.134 4.083
2016-10-12 1.134 3.768
2016-09-13 1.134 3.704
2016-08-11 1.134 4.047
2016-07-13 1.134 4.846
2016-06-13 1.134 5.022
2016-05-11 1.134 4.938
2016-04-13 1.134 4.870
2016-03-11 1.134 5.304
2016-02-10 1.080 5.124
2016-01-13 1.080 5.015
2015-12-14 1.080 4.739
2015-11-11 1.080 4.753
2015-10-13 1.080 4.678
2015-09-11 1.080 4.607
2015-08-12 1.080 4.902
2015-07-13 1.080 4.601
2015-06-11 1.080 4.330
2015-05-13 1.080 4.273
2015-04-13 1.080 4.184
2015-03-11 1.080 4.407
2015-02-11 1.060 4.542
2015-01-13 1.060 4.937
2014-12-11 1.060 5.037
2014-11-12 1.060 4.947
2014-10-10 1.060 5.062
2014-09-11 1.060 5.046
2014-08-13 1.060 5.183
2014-07-11 1.060 5.168
2014-06-11 1.060 5.061
2014-05-13 1.060 5.042
2014-04-11 1.060 5.152
2014-03-12 1.060 4.970
2014-02-12 1.040 5.235
2014-01-13 1.040 5.767
2013-12-10 1.040 5.684
2013-11-14 1.040 5.740
2013-10-10 1.040 5.580
2013-09-11 1.040 5.806
2013-08-13 1.040 6.016
2013-07-11 1.040 5.969
2013-06-12 1.040 6.158
2013-05-13 1.040 5.905
2013-04-11 1.040 6.184
2013-03-13 1.040 5.956
2013-02-13 1.020 5.542
2013-01-14 1.020 5.189
2012-12-12 1.020 5.389
2012-11-13 1.020 5.753
2012-10-11 1.020 5.940
2012-09-12 1.020 6.021
2012-08-13 1.020 6.112
2012-07-11 1.020 6.804
2012-06-13 1.020 7.173
2012-05-11 1.020 7.328
2012-04-11 1.020 7.437
2012-03-13 1.020 7.586
2012-02-13 1.020 7.360
2012-01-11 1.020 7.796
2011-12-13 1.020 8.050
2011-11-10 1.020 8.667
2011-10-12 1.020 9.627
2011-09-13 1.020 10.815
2011-08-10 1.020 9.685
2011-07-14 1.020 8.666
2011-06-10 1.020 8.338
2011-05-11 1.020 8.266
2011-04-06 1.020 8.372
2011-03-15 1.020 8.336
2011-01-13 1.020 8.576
2010-12-15 1.260 11.191
2010-11-16 1.260 11.536
2010-10-15 1.260 10.561
2010-09-15 1.260 10.992
2010-08-16 1.260 11.689
2010-07-15 1.260 11.943
2010-05-14 1.260 11.964
2010-04-15 1.260 11.092
2010-03-15 1.260 10.946
2010-02-16 1.260 10.297
2010-01-15 1.260 10.035
2009-12-15 1.260 9.614
2009-11-17 1.260 10.336
2009-10-15 1.260 11.237
2009-09-15 1.260 12.483
2009-08-14 1.260 12.321
2009-06-15 1.260 12.721
2009-05-14 1.260 13.315
2009-04-15 1.260 14.899

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Parkland Fuel's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess Parkland Fuel's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Parkland Fuel afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Parkland Fuel has a total score of 4/6, see the detailed checks below.


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

PKI Management

 What is the CEO of Parkland Fuel'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
Bob Espey
COMPENSATION CA$3,782,662
AGE 53
TENURE AS CEO 8.8 years
CEO Bio

Mr. Robert Berthold Espey, also known as Bob, has been the President at Parkland Fuel Corporation since March 15, 2011 and its Chief Executive Officer since May 01, 2011. Mr. Espey served as Transition Consultant at Dynacast Ltd. He served as Chief Operating Officer of Parkland Fuel Corporation from January 2010 to March 15, 2011. He served as Vice President of Retail at Parkland Income Fund from November 2008 to December 2009. He joined Parkland in November 2008. He served as Vice President of Retail of Parkland Industries Ltd. He has business leadership experience from senior roles in a variety of industries. Mr. Espey experience includes working for Computer Science Corporation based in London, England where he consulted to large retailing and manufacturing companies including Shell, Unilever, Bata Shoes and Allied Domec. Mr. Espey served as President and Chief Executive Officer of FisherCast Global a global manufacturer of precision die cast components until August 27, 2008. Mr. Espey was an officer of FisherCast when it filed for protection on June 4, 2008 under the Companies’ Creditors Arrangement Act (Canada) (“CCAA”) and became President and Chief Executive Officer during the period of protection. He served as a Non-Independent Director at Parkland Fuel Corporation since May 12, 2011. Mr. Espey spent four years in the Canadian Navy as a commissioned officer, holds a Bachelor of Engineering (Mechanical) from Royal Military College and a Masters in Business Administration from the Ivy School of Business, University of Western Ontario.

CEO Compensation
  • Bob's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Bob's remuneration is about average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Parkland Fuel management team in years:

1.4
Average Tenure
50
Average Age
  • The average tenure for the Parkland Fuel management team is less than 2 years, this suggests a new team.
Management Team

Bob Espey

TITLE
President
COMPENSATION
CA$4M
AGE
53
TENURE
8.8 yrs

Pierre Patrick Magnan

TITLE
President of Parkland International
COMPENSATION
CA$1M
AGE
45
TENURE
1.4 yrs

Doug Haugh

TITLE
President of Parkland USA
COMPENSATION
CA$2M
TENURE
2.3 yrs

Ryan Krogmeier

TITLE
Senior Vice President of Supply
COMPENSATION
CA$2M
AGE
50
TENURE
1.4 yrs

Darren Smart

TITLE
Interim CFO
COMPENSATION
CA$977K
TENURE
0.3 yrs

Brad Monaco

TITLE
Director of Investor Relations

Christy Elliott

TITLE
VP, Senior General Counsel
TENURE
2.7 yrs

Annie Cuerrier

TITLE
Director of Corporate Communications

Stephanie McDonald

TITLE
Senior Vice President of People & Culture
TENURE
1.4 yrs

Ian White

TITLE
Senior Vice President of Strategic Marketing & Innovation
TENURE
1.2 yrs
Board of Directors Tenure

Average tenure and age of the Parkland Fuel board of directors in years:

5.8
Average Tenure
60.5
Average Age
  • The tenure for the Parkland Fuel board of directors is about average.
Board of Directors

Jim Pantelidis

TITLE
Independent Chairman
COMPENSATION
CA$405K
AGE
73
TENURE
14.8 yrs

Bob Espey

TITLE
President
COMPENSATION
CA$4M
AGE
53
TENURE
8.8 yrs

Jack Donald

TITLE
Chairman Emeritus
AGE
84

Lisa Colnett

TITLE
Independent Director
COMPENSATION
CA$198K
AGE
61
TENURE
5.8 yrs

Debbie Stein

TITLE
Independent Director
COMPENSATION
CA$195K
AGE
58
TENURE
3.8 yrs

David Spencer

TITLE
Non-Independent Director
COMPENSATION
CA$186K
AGE
61
TENURE
14.8 yrs

John Bechtold

TITLE
Independent Director
COMPENSATION
CA$204K
AGE
73
TENURE
13.6 yrs

Domenic Pilla

TITLE
Independent Director
COMPENSATION
CA$172K
AGE
60
TENURE
5.2 yrs

Tim Hogarth

TITLE
Independent Director
COMPENSATION
CA$171K
AGE
59
TENURE
4.8 yrs

Steve Richardson

TITLE
Independent Director
COMPENSATION
CA$166K
AGE
59
TENURE
2.6 yrs
Who owns this company?
Recent Insider Trading
  • Parkland Fuel individual insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
19. Mar 20 Buy Timothy Hogarth Individual 18. Mar 20 18. Mar 20 2,000 CA$21.39 CA$42,443
11. Mar 20 Buy James Pantelidis Individual 09. Mar 20 09. Mar 20 2,000 CA$34.04 CA$67,994
09. Mar 20 Buy Steven Richardson Individual 09. Mar 20 09. Mar 20 600 CA$34.00 CA$20,400
03. Jan 20 Sell John Bechtold Individual 03. Jan 20 03. Jan 20 -6,089 CA$48.23 CA$-293,672
21. Oct 19 Sell Timothy Rhodes Individual 18. Oct 19 18. Oct 19 -15,000 CA$46.04 CA$-690,672
23. Sep 19 Sell Ian White Individual 20. Sep 19 20. Sep 19 -5,100 CA$43.00 CA$-219,300
23. Sep 19 Buy Timothy Rhodes Individual 23. Sep 19 23. Sep 19 115,000 CA$43.12 CA$4,958,800
24. Sep 19 Buy Lisa Colnett Individual 19. Sep 19 19. Sep 19 500 CA$42.94 CA$21,470
27. Aug 19 Buy Timothy Rhodes Individual 27. Aug 19 27. Aug 19 168,538 CA$41.20 CA$6,943,766
21. Aug 19 Sell Colin Kilty Individual 16. Aug 19 16. Aug 19 -17,394 CA$42.76 CA$-743,787
03. Jul 19 Sell Darren Smart Individual 26. Jun 19 26. Jun 19 -11,600 CA$41.25 CA$-478,500
18. Jun 19 Sell Patricia van de Sande Individual 13. Jun 19 13. Jun 19 -3,700 CA$42.39 CA$-156,843
X
Management checks
We assess Parkland Fuel'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. Parkland Fuel 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.

PKI News

Simply Wall St News

How Does Parkland Fuel Corporation (TSE:PKI) Stand Up To These Simple Dividend Safety Checks?

Dividend paying stocks like Parkland Fuel Corporation (TSE:PKI) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. On the other hand, investors have been known to buy a stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. While Parkland Fuel's 2.9% dividend yield is not the highest, we think its lengthy payment history is quite interesting. Some simple analysis can reduce the risk of holding Parkland Fuel for its dividend, and we'll focus on the most important aspects below. Explore this interactive chart for our latest analysis on Parkland Fuel! TSX:PKI Historical Dividend Yield, September 3rd 2019Payout ratios Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. Looking at the data, we can see that 53% of Parkland Fuel's profits were paid out as dividends in the last 12 months. This is a fairly normal payout ratio among most businesses. It allows a higher dividend to be paid to shareholders, but does limit the capital retained in the business - which could be good or bad. We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. Parkland Fuel's cash payout ratio last year was 19%. Cash flows are typically lumpy, but this looks like an appropriately conservative payout. It's encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don't drop precipitously. Is Parkland Fuel's Balance Sheet Risky? As Parkland Fuel has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA is a measure of a company's total debt. Net interest cover measures the ability to meet interest payments. Essentially we check that a) the company does not have too much debt, and b) that it can afford to pay the interest. … It's good to see Parkland Fuel has been growing its earnings per share at 11% a year over the past five years. … Earnings per share have been growing rapidly, but given that it is paying out more than half of its earnings as dividends, we wonder how Parkland Fuel will keep funding its growth projects in the future.

Simply Wall St -

Trade Alert: Parkland Fuel Corporation (TSE:PKI) Insider, Colin Kilty, Has Sold Some Shares Recently

Check out our latest analysis for Parkland Fuel The Last 12 Months Of Insider Transactions At Parkland Fuel Notably, that recent sale by insider Colin Kilty was not the only time they sold Parkland Fuel shares this year. … All up, insiders sold more shares in Parkland Fuel than they bought, over the last year. … TSX:PKI Recent Insider Trading, August 24th 2019 Insider Ownership of Parkland Fuel For a common shareholder, it is worth checking how many shares are held by company insiders.

Simply Wall St -

I Ran A Stock Scan For Earnings Growth And Parkland Fuel (TSE:PKI) Passed With Ease

So if you're like me, you might be more interested in profitable, growing companies, like Parkland Fuel (TSE:PKI). … Although Parkland Fuel certainly looks good to me, I would like it more if insiders were buying up shares. … If you like to see insider buying, too, then this free list of growing companies that insiders are buying, could be exactly what you're looking for.

Simply Wall St -

Parkland Fuel (TSE:PKI) Has A Pretty Healthy Balance Sheet

We note that Parkland Fuel Corporation (TSE:PKI) does have debt on its balance sheet. … TSX:PKI Historical Debt, August 5th 2019 A Look At Parkland Fuel's Liabilities We can see from the most recent balance sheet that Parkland Fuel had liabilities of CA$1.92b falling due within a year, and liabilities of CA$4.96b due beyond that. … Our View When it comes to the balance sheet, the standout positive for Parkland Fuel was the fact that it seems able to grow its EBIT confidently.

Simply Wall St -

Only 3 Days Left To Cash In On Parkland Fuel Corporation (TSE:PKI) Dividend

Parkland Fuel's next dividend payment will be CA$0.10 per share, and in the last 12 months, the company paid a total of CA$1.19 per share. … It's positive to see that Parkland Fuel's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. … Earnings per share have been growing modestly and Parkland Fuel paid out a bit over half of its earnings and free cash flow last year.

Simply Wall St -

A Closer Look At Parkland Fuel Corporation's (TSE:PKI) Impressive ROE

One way to conceptualize this, is that for each CA$1 of shareholders' equity it has, the company made CA$0.13 in profit. … The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Parkland Fuel: 13% = CA$263m ÷ CA$2.2b (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Parkland Fuel's Debt And Its 13% ROE Parkland Fuel does use a significant amount of debt to increase returns.

Simply Wall St -

Do Institutions Own Shares In Parkland Fuel Corporation (TSE:PKI)?

Parkland Fuel is a pretty big company. … See our latest analysis for Parkland Fuel TSX:PKI Ownership Summary, June 16th 2019 What Does The Institutional Ownership Tell Us About Parkland Fuel? … As you can see, institutional investors own 31% of Parkland Fuel.

Simply Wall St -

Parkland Fuel Corporation (TSE:PKI) Is Employing Capital Very Effectively

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Parkland Fuel: 0.096 = CA$698m ÷ (CA$9.0b - CA$1.7b) (Based on the trailing twelve months to March 2019.) So, Parkland Fuel has an ROCE of 9.6%. … Parkland Fuel's Current Liabilities And Their Impact On Its ROCE Current liabilities include invoices, such as supplier payments, short-term debt, or a tax bill, that need to be paid within 12 months. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.

Simply Wall St -

Is Parkland Fuel Corporation's (TSE:PKI) CEO Paid Enough Relative To Peers?

View our latest analysis for Parkland Fuel How Does Bob Espey's Compensation Compare With Similar Sized Companies? … According to our data, Parkland Fuel Corporation has a market capitalization of CA$5.8b, and pays its CEO total annual compensation worth CA$3.8m. … The graphic below shows how CEO compensation at Parkland Fuel has changed from year to year.

Simply Wall St -

Here's Why We Think Parkland Fuel (TSE:PKI) Is Well Worth Watching

In the age of tech-stock blue-sky investing, my choice may seem old fashioned; I still prefer profitable companies like Parkland Fuel (TSE:PKI). … Who among us would not applaud Parkland Fuel's stratospheric annual EPS growth of 51%, compound, over the last three years. … Careful consideration of revenue growth and earnings before interest and taxation (EBIT) margins can help inform a view on the sustainability of the recent profit growth.

Simply Wall St -

PKI Company Info

Description

Parkland Fuel Corporation operates as a marketer, distributor, and refiner of fuel and petroleum products in Canada and the United States. The company’s Retail segment supplies and supports a network of 1,855 retail gas stations under the Ultramar, Esso, Fas Gas Plus, Pioneer, Chevron, and Race Trac, as well as operates convenience stores under the On the Run/Marché Express brand. Its Commercial segment offers bulk fuel, propane, heating oil, lubricants, agricultural inputs, oilfield fluids, and other related products and services to commercial, industrial, and residential customers in various industries, such as oil and gas, construction, mining, forestry, fishing, and transportation. Its brands include Bluewave Energy, Columbia Fuels, Sparlings Propane, Island Petroleum, Propane Nord-Ouest, PNE Propane, Sol Petroleum, Chevron, and Ultramar. The company’s Supply segment manages fuel supply contracts; purchases fuel from refiners, refines fuel, and distributes fuel through rail and highway carriers to wholesale and reseller customers. This segment also offers gasoline and diesel; liquid petroleum gas, such as propane and butane; and other fuel and petroleum products, which include crude oil, aviation fuel, asphalt, fuel oils, gas oils, ethanol, and biodiesel. Its Parkland USA segment operates retail service stations; and delivers gasoline, distillates, propane, and lubricating oils under the SPF Energy, Farstad Oil, Superpumper, and Rhinehart brands. The company was founded in 1977 and is headquartered in Calgary, Canada.

Details
Name: Parkland Fuel Corporation
PKI
Exchange: TSX
Founded: 1977
CA$3,907,986,312
148,310,676
Website: http://www.parkland.ca
Address: Parkland Fuel Corporation
240-4 Avenue SW,
Suite 1800,
Calgary,
Alberta, T2P 4H4,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX PKI Common Shares The Toronto Stock Exchange CA CAD 15. Sep 1982
OTCPK PKIU.F Common Shares Pink Sheets LLC US USD 15. Sep 1982
DB PF6 Common Shares Deutsche Boerse AG DE EUR 15. Sep 1982
Number of employees
Current staff
Staff numbers
3,051
Parkland Fuel employees.
Industry
Oil and Gas Refining and Marketing
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 02:46
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/26
Last earnings filing: 2020/03/05
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.