Alimentation Couche-Tard Inc.

ATD.TO · Consumer Cyclical · Specialty Retail · Valued as of 2026-11-03 · Statements 2026-04-30

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

39.79B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

37.73B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

28.99B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

35.51B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

50.47B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.70×

the ratio the screener ranks by

Margin of Safety

-42.1%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 39.79B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)44.31B USD
−②Net Debt Today12.15B USD
+③Growth Value7.63B USD
=Value39.79B USD

EPV of the Operations (NOPAT over WACC)

44.31B USD

Net debt today

-12.15B USD

Growth Value

+7.63B USD

Value

39.79B USD

①EPV (earnings power value)

44.31B USD

②Net Debt Today

12.15B USD

③Growth Value

7.63B USD

Market value

Market Cap50.47B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-26.8%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 37.73B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE26.62B USD
+②Equity at Year 15, Today11.12B USD
=Value37.73B USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

26.62B USD

②Equity at Year 15, Today

11.12B USD

Market value

Market Cap50.47B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-33.7%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 28.99B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).
①Present Value of the 15 Years of FCFF28.20B USD
+②Invested Capital at Year 15, Today12.95B USD
−③Net Debt Today12.15B USD
=Value28.99B USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROIC on new investment falling to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

28.20B USD

②Invested Capital at Year 15, Today

12.95B USD

③Net Debt Today

12.15B USD

Market value

Market Cap50.47B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-74.1%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 7.55%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.71×Market Risk Premium 6.00%= 8.77%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 936.14M USDPretax Income 4.09B USD= 22.89%

The tax the interest saves.

Interest Expense =EBIT 4,800.00M USD−Pretax Income 4,089.08M USD= 710.91M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 710.91M USDTotal Debt 15.39B USD×(1 − Tax Rate for WACC 22.89%)= 3.56%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 15.39B USDMarket Cap + Total Debt 50.47B USD + 15.39B USD= 23.37%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 76.63%×Cost of Equity 8.77%+Debt Weight 23.37%×Cost of Debt 3.56%= 7.55%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-07-31.

Total Assets 42.77B USD − Total Liabilities 25.95B USD = Book Value Today 16.83B USD

Total Debt 15.39B USD − Cash and Short-Term Investments 3.25B USD = Net Debt Today 12.15B USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1-4.1%at most 5%passes917,962,609 / 957,100,000
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets5.2%at least -10.0%passes(5.37B USD − 3.15B USD) ÷ 42.77B USD
Price to bookMarket Cap ÷ Book Value Today3.00×at most 3×passes50.47B USD ÷ 16.83B USD
Operating marginOperating Income ÷ Revenue6.0%above 10.0%does not pass4.57B USD ÷ 76.58B USD
Revenue growthRevenue ÷ Revenue a Year Before − 15.0%above 10.0%does not pass76.58B USD / 72.93B USD
Net cash(Cash − Total Debt) ÷ Market Cap-24.2%above -30%passes(3.20B USD − 15.39B USD) ÷ 50.47B USD
Operating efficiencyOperating Income ÷ Gross Profit31.6%above 25.0%passes4.57B USD ÷ 14.47B USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

76.98 CAD

Enterprise value

83.33B CAD

the provider's own figure

EV / EBITDA

12.95×

Price / book

3.02×

the provider's book

Price / earnings

15.76×

Return on equity

19.6%

the provider's figure, not this page's

Profit margin

3.9%

Revenue growth

25.1%

Analyst target, mean

103.19 CAD

Analysts

17

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2023202420252026
Income statement

Revenue

71.93B69.33B72.93B76.58B

Gross profit

12.06B12.11B13.03B14.47B

Operating income

4.15B3.78B3.74B4.57B

EBITDA

operating income before depreciation and amortisation

5.82B5.74B6.08B7.17B

Pretax income

3.93B3.45B3.33B4.09B

Net income

3.09B2.73B2.58B3.15B

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

3.06B2.71B2.54B3.09B

R&D

————
Balance sheet, year end

Total assets

29.09B37.26B38.34B43.56B

Total liabilities

16.51B23.93B23.23B27.24B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

12.58B13.20B14.96B16.20B

Total debt

9.48B14.71B13.97B16.46B

Cash and equivalents

835.03M1.31B2.27B3.11B

Net PP&E

fixed assets after depreciation

15.25B18.26B19.22B20.49B

Working capital

current assets less current liabilities

503.60M-149.75M-89.59M1.11B
Cash flow

Operating cash flow

4.35B4.82B5.04B5.37B

Capital expenditure

paid out, so below zero

-1.81B-1.95B-2.33B-1.99B

Depreciation and amortisation

1.54B1.77B2.11B2.37B

Free cash flow

operating cash flow plus capital expenditure

2.54B2.88B2.71B3.38B