Gibson Energy Inc. (GEI.TO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+33.3%

CA$44.51

vs CA$33.39 price

Levered DCF

CA$42.53

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.94

Grey zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	20.76×	26.04×	14.22×	15.45×	22.65×	24.77×	21.27×	17.79×
P/B	5.01×	4.09×	3.35×	6.03×	5.09×	4.42×	5.08×	3.55×
P/S	0.38×	0.34×	0.28×	0.31×	0.45×	0.61×	0.53×	0.39×
EV / EBITDA	12.06×	12.59×	10.89×	10.64×	12.09×	10.81×	11.59×	8.76×
Gross margin	4.0%	3.6%	4.4%	3.6%	4.1%	6.2%	4.6%	4.4%
Operating margin	3.3%	2.9%	3.6%	3.2%	3.4%	5.0%	3.8%	3.1%
Net margin	1.8%	1.3%	1.9%	2.0%	2.0%	2.5%	2.5%	2.2%
Current ratio	1.05×	0.72×	1.12×	1.2×	1.26×	1.1×	1.16×	1.17×
Debt / equity	3.46×	2.72×	3.04×	3×	2.71×	2.28×	1.81×	1.64×
Interest coverage	2.48×	2.47×	3.72×	5.42×	3.95×	3.81×	3.71×	2.85×
Dividend yield	6.8%	6.6%	7.4%	6.2%	6.2%	6.6%	5.0%	7.1%
Payout ratio	140.7%	172.9%	105.9%	95.8%	140.2%	162.6%	104.8%	125.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	24.1%	15.7%	23.5%	39.0%	22.5%	17.8%	24.0%	19.9%
Return on invested capital	6.9%	6.4%	7.5%	10.7%	7.3%	7.7%	10.2%	5.7%
Return on assets	4.3%	3.1%	4.3%	7.0%	4.2%	4.0%	6.1%	5.4%
Free cash flow yield	5.0%	7.1%	12.3%	11.5%	1.4%	6.1%	1.0%	9.9%
Earnings yield	4.8%	3.8%	7.0%	6.5%	4.4%	4.0%	4.7%	5.6%
Enterprise value	CA$6.9B	CA$6.6B	CA$5.7B	CA$5.1B	CA$5B	CA$4.5B	CA$5.2B	CA$3.8B
Net debt / EBITDA	4.87×	4.96×	5.04×	3.42×	4.09×	3.6×	2.97×	2.62×
Cash conversion cycle (days)	6	2	6	6	13	10	9	6