Suncor Energy Inc. (SU.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

+27.3%

CA$134.32

vs CA$105.50 price

Levered DCF

CA$131.41

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

3.15

Safe zone

Rating

A-

Overall 4 / 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	12.56×	10.87×	6.7×	6.57×	11.43×	-7.54×	22.88×	18.78×
P/B	1.65×	1.47×	1.28×	1.51×	1.29×	0.91×	1.58×	1.41×
P/S	1.52×	1.29×	1.13×	1.02×	1.2×	1.32×	1.73×	1.61×
EV / EBITDA	5.7×	4.84×	3.91×	3.35×	5.17×	20.73×	7.47×	6.69×
Gross margin	43.4%	39.2%	39.8%	42.6%	39.0%	17.4%	38.1%	39.2%
Operating margin	16.3%	17.8%	17.7%	23.9%	16.1%	-14.6%	13.9%	16.6%
Net margin	12.1%	11.9%	16.9%	15.6%	10.5%	-17.5%	7.6%	8.5%
Current ratio	1.39×	1.33×	1.44×	1.13×	1.06×	0.89×	0.94×	0.84×
Debt / equity	0.41×	0.33×	0.37×	0.41×	0.51×	0.62×	0.43×	0.39×
Interest coverage	10.76×	13.49×	11.2×	16.1×	6.97×	-3.65×	5.75×	8.02×
Dividend yield	3.8%	4.3%	5.0%	4.4%	3.3%	5.1%	3.9%	3.8%
Payout ratio	47.5%	46.6%	33.1%	28.6%	37.6%	-38.7%	90.2%	70.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	13.1%	13.5%	19.2%	23.1%	11.2%	-12.1%	6.9%	7.5%
Return on invested capital	7.3%	8.2%	8.5%	13.7%	6.2%	-3.2%	6.6%	5.1%
Return on assets	6.6%	6.7%	9.4%	10.7%	4.9%	-5.1%	3.2%	3.7%
Free cash flow yield	9.3%	14.5%	11.7%	17.7%	15.3%	-3.8%	7.3%	8.4%
Earnings yield	8.0%	9.2%	14.9%	15.2%	8.7%	-13.3%	4.4%	5.3%
Enterprise value	CA$89B	CA$76.6B	CA$69.6B	CA$73.6B	CA$63.7B	CA$52.8B	CA$82.4B	CA$77B
Net debt / EBITDA	0.94×	0.71×	0.79×	0.64×	1.35×	7.95×	1.45×	1.31×
Cash conversion cycle (days)	9	10	21	6	7	38	-3	-7