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Keyera

DB:K2Y
Snowflake Description

Proven track record average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
K2Y
DB
CA$3B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Keyera Corp. engages in the transportation, storage, and marketing of natural gas liquids (NGLs) and iso-octane in Canada and the United States. The last earnings update was 42 days ago. More info.


Add to Portfolio Compare Print
  • Keyera has significant price volatility in the past 3 months.
K2Y Share Price and Events
7 Day Returns
15%
DB:K2Y
8.7%
DE Oil and Gas
4.3%
DE Market
1 Year Returns
-55%
DB:K2Y
34.4%
DE Oil and Gas
-14.2%
DE Market
K2Y Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Keyera (K2Y) 15% -34.7% -58.6% -55% -64.9% -71.9%
DE Oil and Gas 8.7% -2.8% -19.4% 34.4% -14.7% 157%
DE Market 4.3% -9% -21.6% -14.2% -19.6% -25.6%
1 Year Return vs Industry and Market
  • K2Y underperformed the Oil and Gas industry which returned 34.4% over the past year.
  • K2Y underperformed the Market in Germany which returned -14.2% over the past year.
Price Volatility
K2Y
Industry
5yr Volatility vs Market

K2Y Value

 Is Keyera 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 Keyera 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 Keyera.

DB:K2Y Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.4%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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 DB:K2Y
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.97
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.972 (1 + (1- 26.5%) (92.43%))
1.424
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.42
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.424 * 5.44%)
7.36%

Discounted Cash Flow Calculation for DB:K2Y using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Keyera 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.

DB:K2Y DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 7.36%)
2020 46.30 Analyst x5 43.13
2021 440.83 Analyst x4 382.49
2022 659.83 Analyst x3 533.29
2023 650.00 Analyst x2 489.35
2024 693.50 Analyst x2 486.33
2025 721.55 Est @ 4.04% 471.33
2026 741.13 Est @ 2.71% 450.95
2027 754.34 Est @ 1.78% 427.54
2028 762.88 Est @ 1.13% 402.75
2029 768.02 Est @ 0.67% 377.69
Present value of next 10 years cash flows CA$4,064.00
DB:K2Y DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$768.02 × (1 + -0.39%) ÷ (7.36% – -0.39%)
CA$9,877.24
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$9,877.24 ÷ (1 + 7.36%)10
CA$4,857.34
DB:K2Y Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$4,064.00 + CA$4,857.34
CA$8,921.34
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$8,921.34 / 219.90
CA$40.57
DB:K2Y Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:K2Y represents 0.64559x of TSX:KEY
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.64559x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 40.57 x 0.64559
€26.19
Value per share (EUR) From above. €26.19
Current discount Discount to share price of €9.60
= -1 x (€9.60 - €26.19) / €26.19
63.3%

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

Current Discount
Amount off the current price Keyera is available for.
Intrinsic value
>50%
Share price is €9.6 vs Future cash flow value of €26.19
Current Discount Checks
For Keyera to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Keyera's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Keyera'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 Keyera's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Keyera's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:K2Y PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$2.07
TSX:KEY Share Price ** TSX (2020-04-08) in CAD CA$14.87
Europe Oil and Gas Industry PE Ratio Median Figure of 104 Publicly-Listed Oil and Gas Companies 6.5x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 17.07x

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

** Primary Listing of Keyera.

DB:K2Y PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 14.87 ÷ 2.07

7.18x

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

  • Keyera is overvalued based on earnings compared to the Europe Oil and Gas industry average.
  • Keyera is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Keyera's expected growth come at a high price?
Raw Data
DB:K2Y PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.18x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
-6.3%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 66 Publicly-Listed Oil and Gas Companies 0.32x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

DB:K2Y PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.18x ÷ -6.3%

-1.14x

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

  • Keyera 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 Keyera's assets?
Raw Data
DB:K2Y PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$14.01
TSX:KEY Share Price * TSX (2020-04-08) in CAD CA$14.87
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 1.01x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.47x
DB:K2Y PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 14.87 ÷ 14.01

1.06x

* Primary Listing of Keyera.

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

  • Keyera is overvalued based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Keyera'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. Keyera 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.

K2Y Future Performance

 How is Keyera 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
-6.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Keyera expected to grow at an attractive rate?
  • Keyera's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Keyera's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Keyera's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:K2Y Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:K2Y Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts -6.3%
DB:K2Y Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 4.4%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13.8%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany 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
DB:K2Y Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months 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.
DB:K2Y Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 830
2023-12-31 833
2022-12-31 839 470
2021-12-31 3,950 763 343 7
2020-12-31 3,819 751 357 7
2020-04-08
DB:K2Y Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 3,617 888 444
2019-09-30 3,774 920 572
2019-06-30 4,101 730 453
2019-03-31 4,218 623 340
2018-12-31 4,465 604 403
2018-09-30 4,350 571 317
2018-06-30 3,954 583 321
2018-03-31 3,654 500 281
2017-12-31 3,413 514 290
2017-09-30 3,080 341 236
2017-06-30 2,934 398 250
2017-03-31 2,743 454 243

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Keyera's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Keyera's revenue is expected to grow by 4.4% 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
DB:K2Y Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Keyera Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:K2Y Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31 1.48 1.83 1.27 7.00
2020-12-31 1.62 1.97 1.31 7.00
2020-04-08
DB:K2Y Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 2.07
2019-09-30 2.69
2019-06-30 2.15
2019-03-31 1.63
2018-12-31 1.94
2018-09-30 1.56
2018-06-30 1.62
2018-03-31 1.45
2017-12-31 1.53
2017-09-30 1.27
2017-06-30 1.35
2017-03-31 1.33

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

K2Y Past Performance

  How has Keyera 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 Keyera'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.
  • Keyera's year on year earnings growth rate has been positive over the past 5 years.
  • Keyera's 1-year earnings growth is less than its 5-year average (10.1% vs 18.9%)
  • Keyera's earnings growth has exceeded the Europe Oil and Gas industry average in the past year (10.1% vs 1.9%).
Earnings and Revenue History
Keyera'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 Keyera Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:K2Y 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 3,616.92 443.61 109.63
2019-09-30 3,774.10 571.52 92.85
2019-06-30 4,100.69 452.98 105.85
2019-03-31 4,217.95 340.31 100.60
2018-12-31 4,465.21 402.83 99.94
2018-09-30 4,349.87 317.22 101.29
2018-06-30 3,953.62 321.00 83.48
2018-03-31 3,653.75 281.29 85.24
2017-12-31 3,413.36 289.92 81.20
2017-09-30 3,079.87 236.49 76.15
2017-06-30 2,933.98 250.45 87.59
2017-03-31 2,743.07 243.06 78.53
2016-12-31 2,500.06 216.85 78.80
2016-09-30 2,429.02 202.45 91.10
2016-06-30 2,453.69 259.56 78.95
2016-03-31 2,476.70 215.47 78.82
2015-12-31 2,521.08 201.92 83.16
2015-09-30 2,837.34 211.09 73.96
2015-06-30 3,060.69 183.99 86.32
2015-03-31 3,317.21 231.34 90.07
2014-12-31 3,623.70 229.99 82.40
2014-09-30 3,617.10 235.00 80.61
2014-06-30 3,528.34 193.38 66.42
2014-03-31 3,444.22 178.62 57.49
2013-12-31 3,277.21 146.84 55.27
2013-09-30 3,137.76 169.09 47.73
2013-06-30 3,026.56 142.51 45.24

*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.
  • Keyera has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Keyera used its assets more efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • Keyera has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Keyera'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.
Keyera has a total score of 4/6, 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.

K2Y Health

 How is Keyera'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 Keyera's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Keyera's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Keyera's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Keyera'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 0.2x 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 Keyera Company Filings, last reported 3 months ago.

DB:K2Y Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 3,053.85 2,774.01 9.31
2019-09-30 2,996.33 2,695.68 43.33
2019-06-30 2,881.99 2,688.69 119.21
2019-03-31 2,713.81 2,421.24 2.58
2018-12-31 2,801.21 2,334.22
2018-09-30 2,587.78 2,252.34 13.75
2018-06-30 2,594.08 2,221.42 269.92
2018-03-31 2,528.02 1,812.76 288.21
2017-12-31 2,479.28 1,795.53 326.38
2017-09-30 1,948.73 1,950.71 29.92
2017-06-30 1,944.18 1,852.54 35.87
2017-03-31 1,909.59 1,672.19 16.96
2016-12-31 1,841.51 1,732.41 16.48
2016-09-30 1,835.87 1,550.57 27.47
2016-06-30 1,811.94 1,410.59 31.04
2016-03-31 1,444.10 1,587.38 13.21
2015-12-31 1,398.27 1,630.69 13.45
2015-09-30 1,403.00 1,565.57 6.11
2015-06-30 1,318.68 1,474.04 5.68
2015-03-31 1,337.33 1,284.30 5.13
2014-12-31 1,318.18 1,293.43 11.31
2014-09-30 1,325.70 1,186.89 80.24
2014-06-30 1,280.88 1,162.33 255.26
2014-03-31 946.00 1,098.35 116.53
2013-12-31 923.71 1,079.05 186.65
2013-09-30 915.75 927.15 10.99
2013-06-30 906.72 867.26 66.84
  • Keyera's level of debt (90.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (98.1% vs 90.8% today).
  • Debt is well covered by operating cash flow (32%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6x coverage).
X
Financial health checks
We assess Keyera'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. Keyera 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.

K2Y Dividends

 What is Keyera'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
12.91%
Current annual income from Keyera dividends. Estimated to be 13.6% next year.
If you bought €2,000 of Keyera shares you are expected to receive €258 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?
  • Keyera's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.63%).
  • Keyera's dividend is above the markets top 25% of dividend payers in Germany (4.61%).
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
DB:K2Y 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
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 8.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.6%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

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

DB:K2Y Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 2.15 2.00
2023-12-31 2.12 2.00
2022-12-31 2.13 4.00
2021-12-31 2.04 16.00
2020-12-31 1.96 16.00
2020-04-08
DB:K2Y Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-03-12 1.920 14.146
2020-02-12 1.920 6.404
2020-01-10 1.920 5.472
2019-12-12 1.920 5.640
2019-11-05 1.920 5.862
2019-10-10 1.920 6.299
2019-09-12 1.920 5.955
2019-08-06 1.920 5.847
2019-07-11 1.800 5.219
2019-06-12 1.800 5.378
2019-05-14 1.800 5.489
2019-04-11 1.800 5.716
2019-03-12 1.800 5.656
2019-02-12 1.800 5.851
2019-01-11 1.800 6.449
2018-12-12 1.800 6.691
2018-11-06 1.800 6.196
2018-10-10 1.800 5.306
2018-09-12 1.800 5.144
2018-08-08 1.800 4.911
2018-07-11 1.680 4.508
2018-06-12 1.680 4.603
2018-05-08 1.680 4.742
2018-04-11 1.680 4.782
2018-03-12 1.680 5.042
2018-02-12 1.680 5.109
2018-01-11 1.680 4.811
2017-12-13 1.680 4.722
2017-11-07 1.680 4.638
2017-10-11 1.680 4.466
2017-09-11 1.680 4.410
2017-07-13 1.680 4.477
2017-06-12 1.680 4.120
2017-05-09 1.680 4.108
2017-04-12 1.590 4.078
2017-03-13 1.590 4.103
2017-02-14 1.590 4.028
2017-01-12 1.590 4.085
2016-12-09 1.590 3.956
2016-11-08 1.590 4.147
2016-10-11 1.590 3.909
2016-09-09 1.590 3.871
2016-08-09 1.590 3.936
2016-07-11 1.500 3.936
2016-06-10 1.500 3.958
2016-05-10 1.500 3.929
2016-04-11 1.500 3.800
2016-03-10 1.500 3.849
2016-02-10 1.500 4.023
2016-01-11 1.500 4.080
2015-12-09 1.500 3.814
2015-11-09 1.500 3.770
2015-10-09 1.500 3.684
2015-09-09 1.500 3.936
2015-08-05 1.500 3.701
2015-07-10 1.380 3.266
2015-06-10 1.380 3.315
2015-05-05 1.380 3.322
2015-04-10 1.380 3.114
2015-02-11 1.380 3.315
2015-02-10 1.290 3.458
2015-01-09 1.290 3.338
2014-12-09 1.290 3.391
2014-11-10 1.290 2.933
2014-10-09 1.290 2.862
2014-09-09 1.290 2.762
2014-08-11 1.290 2.708
2014-07-09 1.290 3.171
2014-06-10 1.290 3.310
2014-05-06 1.290 3.466
2014-04-09 1.200 3.357
2014-03-11 1.200 3.505
2014-02-11 1.200 3.620
2014-01-09 1.200 3.643
2013-12-09 1.200 3.787
2013-11-07 1.200 3.922
2013-10-07 1.200 4.043
2013-09-09 1.200 4.136
2013-07-08 1.080 3.764
2013-06-07 1.080 3.752
2013-05-09 1.080 3.505
2013-04-09 1.080 3.587
2013-03-08 1.080 3.852
2013-02-08 1.080 4.032
2013-01-09 1.080 4.240
2012-12-07 1.080 4.433
2012-11-06 1.080 4.620
2012-10-09 1.020 4.283
2012-09-07 1.020 4.346
2012-08-09 1.020 4.428
2012-07-09 1.020 4.619
2012-06-08 1.020 4.875
2012-05-07 1.020 4.813
2012-03-08 1.020 5.030
2012-02-08 1.020 4.601
2012-01-09 1.020 4.293
2011-12-08 1.020 4.189
2011-11-01 1.020 4.421
2011-10-11 0.960 4.210
2011-09-08 0.960 4.260
2011-08-08 0.960 4.382
2011-07-11 0.960 4.410
2011-06-08 0.960 4.536
2011-05-10 0.920 4.442
2011-02-17 0.960 5.029
2011-01-10 0.000 0.000
2010-12-03 0.900 5.108
2010-11-08 0.900 5.223
2010-10-07 0.900 5.724
2010-09-07 0.900 6.056
2010-08-06 0.900 6.177
2010-07-07 0.900 6.327
2010-06-07 0.900 6.635
2010-05-10 0.900 6.807
2010-04-08 0.900 6.734
2010-03-08 0.900 6.833
2010-02-08 0.900 7.083
2010-01-08 0.900 7.276
2009-12-10 0.900 7.498
2009-11-03 0.900 7.989
2009-10-09 0.900 8.885
2009-09-10 0.900 9.133
2009-08-12 0.900 9.185
2009-07-10 0.900 9.512
2009-06-10 0.900 9.382
2009-05-12 0.900 10.000
2009-04-20 0.900 11.190

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Keyera's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.8x coverage).
X
Income/ dividend checks
We assess Keyera's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Keyera afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Keyera 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.

K2Y Management

 What is the CEO of Keyera'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
David Smith
COMPENSATION CA$4,229,343
AGE 61
TENURE AS CEO 5.3 years
CEO Bio

Mr. David G. Smith has been the Chief Executive Officer of Keyera Corp. since January 1, 2015 and served as its President since January 1, 2015 until March 01, 2020 . Mr. Smith served as the President and Chief Operating Officer of Keyera Corp. (formerly Keyera Facilities Income Fund) from May 10, 2011 to January 1, 2015 and served as its Chief Financial Officer since October 7, 2012. He has more than 30 years of experience in the oil and gas industry. He served as an Executive Vice President for Liquids Business Unit and Secretary of Keyera Corp., from November 2008 to May 10, 2011. He served as the Chief Financial Officer and Executive Vice President of Keyera Energy Management Ltd from February 15, 2006 to November 15, 2008 and also served as its Senior Vice President. Mr. Smith served as a Director of Corporate Finance at Gulf Canada Resources Limited in 1991. He was employed by Imperial Oil Limited for nine years, in marketing and finance, as beginning his career in 1982. He also served for Gulf Midsteam Services and KeySpan Energy Canada Partnership. He has been an Independent Director of Crew Energy Inc, since January 30, 2009. He has been a Non Independent Director of Keyera Corp. since January 1, 2015. Mr. Smith holds a Master of Business Administration degree from the Harvard University and a Bachelor of Mathematics degree from the University of Waterloo and the ICD.D designation from the Institute of Corporate Directors..

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

Average tenure of the Keyera management team in years:

1.3
Average Tenure
  • The average tenure for the Keyera management team is less than 2 years, this suggests a new team.
Management Team

David Smith

TITLE
CEO & Director
COMPENSATION
CA$4M
AGE
61
TENURE
5.3 yrs

C. Setoguchi

TITLE
President & Chief Commercial Officer
COMPENSATION
CA$2M
TENURE
0.1 yrs

Steven Kroeker

TITLE
Senior VP & CFO
COMPENSATION
CA$2M
TENURE
7.4 yrs

Brad Lock

TITLE
Senior VP & COO
COMPENSATION
CA$2M
TENURE
1.3 yrs

Nancy Brennan

TITLE
Senior VP
COMPENSATION
CA$2M
TENURE
0.8 yrs

Lavonne Zdunich

TITLE
Director of Investor Relations

Jamie Urquhart

TITLE
Vice President of Marketing
COMPENSATION
CA$260K
TENURE
1.3 yrs

Rick Koshman

TITLE
Vice President of Corporate Development & Strategic Planning
TENURE
1.3 yrs

Dion Kostiuk

TITLE
Senior Vice President of Human Resources & Corporate Services
TENURE
7.2 yrs

Bradley Slessor

TITLE
Vice President
Board of Directors Tenure

Average tenure and age of the Keyera board of directors in years:

5.3
Average Tenure
62
Average Age
  • The tenure for the Keyera board of directors is about average.
Board of Directors

Jim Bertram

TITLE
Independent Chairman of the Board
COMPENSATION
CA$265K
AGE
63
TENURE
5.3 yrs

David Smith

TITLE
CEO & Director
COMPENSATION
CA$4M
AGE
61
TENURE
5.3 yrs

Michael Norris

TITLE
Independent Director
COMPENSATION
CA$201K
AGE
66
TENURE
6.9 yrs

Doug Haughey

TITLE
Independent Lead Director
COMPENSATION
CA$223K
AGE
62
TENURE
5.3 yrs

Don Nelson

TITLE
Independent Director
COMPENSATION
CA$195K
AGE
71
TENURE
11.9 yrs

Tom O'Connor

TITLE
Independent Director
COMPENSATION
CA$173K
AGE
64
TENURE
6.3 yrs

Janet Woodruff

TITLE
Independent Director
COMPENSATION
CA$167K
AGE
62
TENURE
4.8 yrs

Gianna Manes

TITLE
Independent Director
COMPENSATION
CA$165K
AGE
54
TENURE
2.9 yrs

Charlene Ripley

TITLE
Independent Director
COMPENSATION
CA$174K
AGE
55
TENURE
2.8 yrs

John Goertzen

TITLE
Independent Director
COMPENSATION
CA$66K
AGE
60
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Keyera individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
01. Apr 20 Buy Nancy Brennan Individual 31. Mar 20 31. Mar 20 2,000 €8.64 €17,283
01. Apr 20 Buy Richard Koshman Individual 30. Mar 20 30. Mar 20 550 €7.53 €4,143
01. Apr 20 Buy John Goertzen Individual 30. Mar 20 30. Mar 20 10,000 €7.37 €73,720
20. Mar 20 Buy Kelly Hill Individual 17. Mar 20 17. Mar 20 683 €9.19 €6,278
18. Mar 20 Buy John Hunszinger Individual 18. Mar 20 18. Mar 20 4,700 €10.25 €48,181
18. Mar 20 Buy Richard Koshman Individual 18. Mar 20 18. Mar 20 1,000 €7.37 €7,372
18. Mar 20 Buy Eileen Marikar Individual 16. Mar 20 16. Mar 20 525 €10.15 €5,331
18. Mar 20 Buy Steven Kroeker Individual 17. Mar 20 17. Mar 20 6,500 €10.24 €66,580
18. Mar 20 Buy David Smith Individual 16. Mar 20 16. Mar 20 20,000 €10.19 €203,712
18. Mar 20 Buy K. Urquhart Individual 17. Mar 20 18. Mar 20 6,400 €9.49 €53,986
18. Dec 19 Buy Eileen Marikar Individual 17. Dec 19 17. Dec 19 120 €23.23 €2,788
01. Nov 19 Buy Eileen Marikar Individual 13. Jun 19 10. Sep 19 1,014 €23.00 €22,320
10. Sep 19 Sell Graham Balzun Individual 06. Sep 19 06. Sep 19 -5,000 €23.01 €-115,065
22. Aug 19 Sell James Bertram Individual 19. Aug 19 22. Aug 19 -100,000 €22.46 €-2,229,941
13. Jun 19 Buy Janet Woodruff Individual 13. Jun 19 13. Jun 19 1,420 €21.51 €30,525
X
Management checks
We assess Keyera'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. Keyera 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.

K2Y News

Simply Wall St News

K2Y Company Info

Description

Keyera Corp. engages in the transportation, storage, and marketing of natural gas liquids (NGLs) and iso-octane in Canada and the United States. The company’s Gathering and Processing business units operates a network of approximately 4,000 kilometers of pipelines and 17 natural gas processing plants located in the natural gas production areas primarily on the western side of the Western Canada Sedimentary Basin. This unit also provides natural gas gathering and processing, including liquids extraction services to customers. Its Liquids business unit is involved in the marketing of NGLs, such as propane, butane, condensate, sulphur, and iso-octane, as well as various crude oil midstream activities, as well as liquids blending. This units also provides fractionation, storage, transportation, and terminalling services for NGLs and crude oil; and processing services related to iso-octane through a network of facilities that include underground NGL storage caverns, NGL fractionation facilities, and NGL and crude oil pipelines, as well as rail and truck terminals and the Alberta EnviroFuels facility. It also produces iso-octane. The company was formerly known as Keyera Facilities Income Fund and changed its name to Keyera Corp. in January 2011. Keyera Corp. was founded in 1998 and is headquartered in Calgary, Canada.

Details
Name: Keyera Corp.
K2Y
Exchange: DB
Founded: 1998
CA$2,147,804,608
219,904,739
Website: http://www.keyera.com
Address: Keyera Corp.
Sun Life Plaza West Tower,
Suite 200,
Calgary,
Alberta, T2P 3N4,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX KEY Common Shares The Toronto Stock Exchange CA CAD 30. May 2003
OTCPK KEYU.F Common Shares Pink Sheets LLC US USD 30. May 2003
DB K2Y Common Shares Deutsche Boerse AG DE EUR 30. May 2003
Number of employees
Current staff
Staff numbers
1,074
Keyera employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 23:20
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2020/02/26
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.