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

TSX:EMA-PR-C - Toronto Stock Exchange - CA2908765076 - Currency: CAD

24  +0.07 (+0.29%)

Fundamental Rating

4

EMA-PR-C gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 19 industry peers in the Electric Utilities industry. There are concerns on the financial health of EMA-PR-C while its profitability can be described as average. EMA-PR-C has a correct valuation and a medium growth rate. EMA-PR-C also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

In the past year EMA-PR-C was profitable.
EMA-PR-C had a positive operating cash flow in the past year.
EMA-PR-C had positive earnings in each of the past 5 years.
Each year in the past 5 years EMA-PR-C had a positive operating cash flow.
EMA-PR-C.CA Yearly Net Income VS EBIT VS OCF VS FCFEMA-PR-C.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B

1.2 Ratios

Looking at the Return On Assets, with a value of 2.19%, EMA-PR-C is in the better half of the industry, outperforming 63.16% of the companies in the same industry.
With a decent Return On Equity value of 7.00%, EMA-PR-C is doing good in the industry, outperforming 63.16% of the companies in the same industry.
EMA-PR-C has a Return On Invested Capital of 3.49%. This is in the lower half of the industry: EMA-PR-C underperforms 78.95% of its industry peers.
EMA-PR-C had an Average Return On Invested Capital over the past 3 years of 3.14%. This is in line with the industry average of 3.84%.
The 3 year average ROIC (3.14%) for EMA-PR-C is below the current ROIC(3.49%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 2.19%
ROE 7%
ROIC 3.49%
ROA(3y)2%
ROA(5y)2.1%
ROE(3y)6.7%
ROE(5y)7.06%
ROIC(3y)3.14%
ROIC(5y)2.92%
EMA-PR-C.CA Yearly ROA, ROE, ROICEMA-PR-C.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

The Profit Margin of EMA-PR-C (11.07%) is worse than 78.95% of its industry peers.
In the last couple of years the Profit Margin of EMA-PR-C has declined.
The Operating Margin of EMA-PR-C (22.82%) is worse than 73.68% of its industry peers.
EMA-PR-C's Operating Margin has declined in the last couple of years.
Industry RankSector Rank
OM 22.82%
PM (TTM) 11.07%
GM N/A
OM growth 3Y3.96%
OM growth 5Y-4.26%
PM growth 3Y-8.12%
PM growth 5Y-8.76%
GM growth 3YN/A
GM growth 5YN/A
EMA-PR-C.CA Yearly Profit, Operating, Gross MarginsEMA-PR-C.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

2

2. Health

2.1 Basic Checks

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

2.2 Solvency

Based on the Altman-Z score of 0.52, we must say that EMA-PR-C is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of EMA-PR-C (0.52) is better than 68.42% of its industry peers.
A Debt/Equity ratio of 1.50 is on the high side and indicates that EMA-PR-C has dependencies on debt financing.
With a Debt to Equity ratio value of 1.50, EMA-PR-C is not doing good in the industry: 78.95% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.5
Debt/FCF N/A
Altman-Z 0.52
ROIC/WACC0.74
WACC4.7%
EMA-PR-C.CA Yearly LT Debt VS Equity VS FCFEMA-PR-C.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B

2.3 Liquidity

A Current Ratio of 0.72 indicates that EMA-PR-C may have some problems paying its short term obligations.
The Current ratio of EMA-PR-C (0.72) is better than 68.42% of its industry peers.
EMA-PR-C has a Quick Ratio of 0.72. This is a bad value and indicates that EMA-PR-C is not financially healthy enough and could expect problems in meeting its short term obligations.
EMA-PR-C has a better Quick ratio (0.54) than 68.42% of its industry peers.
Industry RankSector Rank
Current Ratio 0.72
Quick Ratio 0.54
EMA-PR-C.CA Yearly Current Assets VS Current LiabilitesEMA-PR-C.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

5

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 26.28% over the past year.
Measured over the past 5 years, EMA-PR-C shows a small growth in Earnings Per Share. The EPS has been growing by 2.49% on average per year.
Looking at the last year, EMA-PR-C shows a quite strong growth in Revenue. The Revenue has grown by 9.93% in the last year.
The Revenue has been growing slightly by 3.33% on average over the past years.
EPS 1Y (TTM)26.28%
EPS 3Y1.4%
EPS 5Y2.49%
EPS Q2Q%68.42%
Revenue 1Y (TTM)9.93%
Revenue growth 3Y7.69%
Revenue growth 5Y3.33%
Sales Q2Q%32.61%

3.2 Future

The Earnings Per Share is expected to grow by 5.39% on average over the next years.
The Revenue is expected to grow by 2.62% on average over the next years.
EPS Next Y11.25%
EPS Next 2Y7.26%
EPS Next 3Y6.57%
EPS Next 5Y5.39%
Revenue Next Year7.88%
Revenue Next 2Y3.3%
Revenue Next 3Y4.45%
Revenue Next 5Y2.62%

3.3 Evolution

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

5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 6.94, which indicates a rather cheap valuation of EMA-PR-C.
EMA-PR-C's Price/Earnings ratio is a bit more expensive when compared to the industry. EMA-PR-C is more expensive than 63.16% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.17, EMA-PR-C is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 7.10, the valuation of EMA-PR-C can be described as very cheap.
EMA-PR-C's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. EMA-PR-C is more expensive than 63.16% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of EMA-PR-C to the average of the S&P500 Index (22.10), we can say EMA-PR-C is valued rather cheaply.
Industry RankSector Rank
PE 6.94
Fwd PE 7.1
EMA-PR-C.CA Price Earnings VS Forward Price EarningsEMA-PR-C.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, EMA-PR-C is valued a bit cheaper than 63.16% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 8.07
EMA-PR-C.CA Per share dataEMA-PR-C.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40

4.3 Compensation for Growth

EMA-PR-C's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.62
PEG (5Y)2.79
EPS Next 2Y7.26%
EPS Next 3Y6.57%

8

5. Dividend

5.1 Amount

EMA-PR-C has a Yearly Dividend Yield of 4.68%, which is a nice return.
EMA-PR-C's Dividend Yield is a higher than the industry average which is at 4.19.
EMA-PR-C's Dividend Yield is rather good when compared to the S&P500 average which is at 2.40.
Industry RankSector Rank
Dividend Yield 4.68%

5.2 History

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

5.3 Sustainability

EMA-PR-C pays out 70.92% of its income as dividend. This is not a sustainable payout ratio.
The dividend of EMA-PR-C is growing, but earnings are growing more, so the dividend growth is sustainable.
DP70.92%
EPS Next 2Y7.26%
EPS Next 3Y6.57%
EMA-PR-C.CA Yearly Income VS Free CF VS DividendEMA-PR-C.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M -1B -1.5B
EMA-PR-C.CA Dividend Payout.EMA-PR-C.CA Dividend Payout, showing the Payout Ratio.EMA-PR-C.CA Dividend Payout.PayoutRetained Earnings

EMERA INC - EMACN 6.434 PERP

TSX:EMA-PR-C (5/28/2025, 7:00:00 PM)

24

+0.07 (+0.29%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryElectric Utilities
Earnings (Last)05-08 2025-05-08/bmo
Earnings (Next)08-07 2025-08-07
Inst Owners31.98%
Inst Owner ChangeN/A
Ins Owners0.14%
Ins Owner ChangeN/A
Market Cap7.15B
Analysts70.59
Price Target23.07 (-3.87%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.68%
Yearly Dividend2.11
Dividend Growth(5Y)3.46%
DP70.92%
Div Incr Years2
Div Non Decr Years12
Ex-Date05-01 2025-05-01 (0.40213)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)18.4%
Min EPS beat(2)8.91%
Max EPS beat(2)27.9%
EPS beat(4)3
Avg EPS beat(4)7.35%
Min EPS beat(4)-10.21%
Max EPS beat(4)27.9%
EPS beat(8)4
Avg EPS beat(8)0.88%
EPS beat(12)7
Avg EPS beat(12)3.44%
EPS beat(16)8
Avg EPS beat(16)2.35%
Revenue beat(2)1
Avg Revenue beat(2)2.67%
Min Revenue beat(2)-13.96%
Max Revenue beat(2)19.3%
Revenue beat(4)1
Avg Revenue beat(4)-5.94%
Min Revenue beat(4)-23.25%
Max Revenue beat(4)19.3%
Revenue beat(8)1
Avg Revenue beat(8)-7.23%
Revenue beat(12)5
Avg Revenue beat(12)3.04%
Revenue beat(16)7
Avg Revenue beat(16)0.84%
PT rev (1m)-1.38%
PT rev (3m)-5.85%
EPS NQ rev (1m)-9.59%
EPS NQ rev (3m)-2.62%
EPS NY rev (1m)0%
EPS NY rev (3m)0.68%
Revenue NQ rev (1m)-1.06%
Revenue NQ rev (3m)7.21%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.38%
Valuation
Industry RankSector Rank
PE 6.94
Fwd PE 7.1
P/S 0.91
P/FCF N/A
P/OCF 2.57
P/B 0.57
P/tB 1.03
EV/EBITDA 8.07
EPS(TTM)3.46
EY14.42%
EPS(NY)3.38
Fwd EY14.09%
FCF(TTM)-1.67
FCFYN/A
OCF(TTM)9.32
OCFY38.85%
SpS26.39
BVpS41.74
TBVpS23.28
PEG (NY)0.62
PEG (5Y)2.79
Profitability
Industry RankSector Rank
ROA 2.19%
ROE 7%
ROCE 5.05%
ROIC 3.49%
ROICexc 3.52%
ROICexgc 4.14%
OM 22.82%
PM (TTM) 11.07%
GM N/A
FCFM N/A
ROA(3y)2%
ROA(5y)2.1%
ROE(3y)6.7%
ROE(5y)7.06%
ROIC(3y)3.14%
ROIC(5y)2.92%
ROICexc(3y)3.18%
ROICexc(5y)2.95%
ROICexgc(3y)3.8%
ROICexgc(5y)3.58%
ROCE(3y)4.61%
ROCE(5y)4.29%
ROICexcg growth 3Y1.9%
ROICexcg growth 5Y-7.94%
ROICexc growth 3Y3.35%
ROICexc growth 5Y-6.78%
OM growth 3Y3.96%
OM growth 5Y-4.26%
PM growth 3Y-8.12%
PM growth 5Y-8.76%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.2
Health
Industry RankSector Rank
Debt/Equity 1.5
Debt/FCF N/A
Debt/EBITDA 6.21
Cap/Depr 272.83%
Cap/Sales 41.66%
Interest Coverage 250
Cash Conversion 92.75%
Profit Quality N/A
Current Ratio 0.72
Quick Ratio 0.54
Altman-Z 0.52
F-Score7
WACC4.7%
ROIC/WACC0.74
Cap/Depr(3y)272.75%
Cap/Depr(5y)273.57%
Cap/Sales(3y)38.94%
Cap/Sales(5y)41.07%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)26.28%
EPS 3Y1.4%
EPS 5Y2.49%
EPS Q2Q%68.42%
EPS Next Y11.25%
EPS Next 2Y7.26%
EPS Next 3Y6.57%
EPS Next 5Y5.39%
Revenue 1Y (TTM)9.93%
Revenue growth 3Y7.69%
Revenue growth 5Y3.33%
Sales Q2Q%32.61%
Revenue Next Year7.88%
Revenue Next 2Y3.3%
Revenue Next 3Y4.45%
Revenue Next 5Y2.62%
EBIT growth 1Y34.11%
EBIT growth 3Y11.95%
EBIT growth 5Y-1.07%
EBIT Next Year109.46%
EBIT Next 3Y30.88%
EBIT Next 5Y19.32%
FCF growth 1Y74.42%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y262.88%
OCF growth 3Y30.7%
OCF growth 5Y11.65%