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Last update at 2025-03-13T17:25:00Z
Element Fleet Management Full Year 2024 Earnings: In Line With Expectations
Sat 01 Mar 25, 01:26 PMElement Fleet Management and Blackstone Announce Strategic Funding Relationship
Thu 27 Feb 25, 12:00 PMElement Launches Risk Solutions Offering with Insurance
Thu 30 Jan 25, 01:00 PMElement to Announce Q4 and Full-Year 2024 Results and Host Conference Call on February 27, 2025
Wed 22 Jan 25, 01:00 PMInsider Stock Buying Reaches US$2.32m On Element Fleet Management
Tue 21 Jan 25, 12:21 PMElement Fleet Management (TSE:EFN) Ticks All The Boxes When It Comes To Earnings Growth
Mon 06 Jan 25, 07:25 PMElement Receives SBTi Validation of Near-Term Targets
Mon 25 Nov 24, 10:00 PMLaura Dottori-Attanasio Named 2024 New CEO of the Year
Fri 22 Nov 24, 01:00 PM| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Income before tax | 605.66M | 549.55M | 457.68M | 333.05M | 92.04M |
| Minority interest | - | - | - | - | - |
| Net income | 351.42M | 409.64M | 279.22M | 225.14M | 97.70M |
| Selling general administrative | 209.95M | 156.15M | 128.52M | 151.37M | 134.13M |
| Selling and marketing expenses | - | - | - | - | - |
| Gross profit | 1636.28M | 809.16M | 666.94M | 660.34M | 671.47M |
| Reconciled depreciation | 572.53M | 603.18M | 536.11M | 509.25M | 561.11M |
| Ebit | 429.03M | 29.64M | -22.84200M | -80.14600M | -305.04700M |
| Ebitda | 1819.05M | 1159.91M | 988.67M | 937.43M | 1019.35M |
| Depreciation and amortization | 1390.03M | 1130.27M | 1011.51M | 1017.58M | 1324.40M |
| Non operating income net other | - | - | - | - | - |
| Operating income | 1059.54M | 556.74M | 452.57M | 428.19M | 458.24M |
| Other operating expenses | 1390.03M | 1403.08M | 1209.92M | 1342.13M | 1559.84M |
| Interest expense | 585.47M | 3.83M | 3.58M | 6.26M | 13.19M |
| Tax provision | 105.13M | 139.91M | 101.67M | 45.96M | -5.66200M |
| Interest income | - | - | - | - | 646.48M |
| Net interest income | -3.09061M | -3.83100M | -3.58000M | -6.25900M | 135.77M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | 139.46M | 139.91M | 101.67M | 45.96M | -5.66200M |
| Total revenue | 2447.46M | 1959.82M | 1662.49M | 1770.32M | 2018.07M |
| Total operating expenses | 576.74M | 252.43M | 214.37M | 232.15M | 213.24M |
| Cost of revenue | 811.18M | 1150.65M | 995.55M | 1109.98M | 1346.60M |
| Total other income expense net | -453.88200M | -7.18300M | 5.11M | -95.13200M | -366.19700M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 351.42M | 409.64M | 356.01M | 287.09M | 97.70M |
| Net income applicable to common shares | - | 381.57M | 323.59M | 246.27M | 53.28M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 16472.57M | 14332.22M | 12973.41M | 14991.39M | 17429.60M |
| Intangible assets | 846.00M | 864.61M | 830.01M | 814.38M | 793.28M |
| Earning assets | - | - | - | - | - |
| Other current assets | -10031.79000M | 433.33M | 400.93M | 388.98M | 434.13M |
| Total liab | 12571.90M | 10651.25M | 9522.46M | 11207.27M | 13616.96M |
| Total stockholder equity | 3900.67M | 3680.97M | 3450.95M | 3784.12M | 3812.64M |
| Deferred long term liab | - | - | - | - | - |
| Other current liab | -1390.73900M | 1465.20M | 1206.55M | -1551.93900M | -1703.50700M |
| Common stock | 2847.21M | 2868.08M | 2951.60M | 3180.38M | 3127.71M |
| Capital stock | 3101.94M | 3233.19M | 3463.47M | 3692.25M | 3808.13M |
| Retained earnings | 320.87M | 129.29M | -22.53600M | -64.05700M | -217.90000M |
| Other liab | - | 132.53M | 89.30M | 57.78M | 48.23M |
| Good will | 1269.40M | 1295.09M | 1220.99M | 1223.34M | 1245.98M |
| Other assets | - | 798.76M | 417.71M | 444.12M | 440.95M |
| Cash | 464.65M | 68.88M | 45.27M | 8.79M | 24.22M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 1600.94M | 1852.23M | 1206.55M | 1062.61M | 924.94M |
| Current deferred revenue | - | - | - | - | - |
| Net debt | 10439.84M | 8948.85M | 8158.89M | 9995.19M | 12573.01M |
| Short term debt | 2991.68M | 387.03M | 0.00000M | 1551.94M | 1703.51M |
| Short long term debt | - | 387.03M | - | 1551.94M | 1703.51M |
| Short long term debt total | 10904.50M | 9017.73M | 8204.16M | 10003.98M | 12597.23M |
| Other stockholder equity | - | 13.80M | 13.83M | 222.78M | 256.71M |
| Property plant equipment | - | 2887.74M | 2391.05M | 2269.58M | 2242.99M |
| Total current assets | 10300.66M | 8787.41M | 8087.35M | 10186.34M | 12665.00M |
| Long term investments | - | - | - | - | - |
| Net tangible assets | - | 1156.16M | 888.08M | 1234.53M | 1092.97M |
| Short term investments | - | - | - | - | - |
| Net receivables | 9567.14M | 8285.20M | 7641.15M | 9788.57M | 12206.65M |
| Long term debt | 10772.15M | 8971.79M | 8198.03M | 10018.60M | 12604.65M |
| Inventory | - | - | - | - | - |
| Accounts payable | - | 1336.98M | 1079.51M | 1062.61M | 924.94M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | 477.86M | 304.69M | -3.80900M | 44.53M | 94.06M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | - | 3180.38M | 3127.71M |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | - | - | - | - |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | - | 131.94M | 26.30M | 53.63M | 41.40M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 6171.91M | 5544.81M | 4886.06M | 4805.05M | 4764.60M |
| Capital lease obligations | - | - | - | - | - |
| Long term debt total | - | 9025.11M | 8259.44M | 10018.60M | 12690.08M |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Investments | -76.50761M | -65.61000M | -0.55300M | -9.62300M | 82.36M |
| Change to liabilities | - | 0.00000M | 0.00000M | 0.00000M | 0.00000M |
| Total cashflows from investing activities | - | -65.61000M | -85.94900M | -9.62300M | 82.36M |
| Net borrowings | - | 489.10M | -1718.95200M | -2597.42300M | -1022.86300M |
| Total cash from financing activities | 1380.16M | -7.59400M | -2390.22800M | -2833.99900M | -1117.50800M |
| Change to operating activities | - | -838.24700M | 1580.22M | 1888.59M | 10.38M |
| Net income | 466.20M | 409.64M | 356.01M | 287.09M | 97.70M |
| Change in cash | -37.54900M | 23.61M | 36.48M | -15.43500M | 2.23M |
| Begin period cash flow | 502.20M | 45.27M | 8.79M | 24.22M | 22.00M |
| End period cash flow | 464.65M | 68.88M | 45.27M | 8.79M | 24.22M |
| Total cash from operating activities | -136.43300M | 229.63M | 2512.10M | 2784.81M | 1038.91M |
| Issuance of capital stock | - | 14.24M | 38.37M | 26.98M | 6.74M |
| Depreciation | 759.51M | 603.18M | 536.11M | 509.25M | 561.11M |
| Other cashflows from investing activities | - | 3.25M | 0.11M | 8.21M | 5.00M |
| Dividends paid | 180.09M | 151.89M | 143.57M | 101.94M | 111.42M |
| Change to inventory | - | - | - | - | - |
| Change to account receivables | -1363.28000M | -240.59000M | 2344.95M | 2266.32M | 708.79M |
| Sale purchase of stock | -218.71900M | -346.17000M | -532.33600M | -179.63400M | 172.50M |
| Other cashflows from financing activities | 3620.50M | 486.06M | 595.01M | 568.53M | 10.03M |
| Change to netincome | - | 3.33M | -13.99200M | 21.36M | 270.64M |
| Capital expenditures | 1689.88M | 68.86M | 86.27M | 100.38M | 48.52M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | - | - | - | - |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | - | - |
| Change in working capital | -1376.38700M | 34.23M | 2271.56M | 2447.73M | 765.68M |
| Stock based compensation | 49.23M | 31.30M | 0.23M | 0.59M | 2.88M |
| Other non cash items | 14.24M | -817.42000M | -635.31600M | -477.85400M | -653.61700M |
| Free cash flow | -1826.31600M | 160.77M | 2425.84M | 2684.43M | 990.39M |
Sector: Industrials Industry: Rental & Leasing Services
| Company | Change (CAD) | Price (CAD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| EFN Element Fleet Management Corp |
-0.54 1.94% | 27.35 | 22.59 | 16.84 | 7.46 | 3.01 | 8.00 | 15.36 |
| BDI Black Diamond Group Limited |
0.09 1.08% | 8.41 | 23.03 | 16.37 | 1.43 | 1.75 | 2.11 | 8.66 |
Element Fleet Management Corp. operates as a fleet management company primarily in Canada, Mexico, Australia, and New Zealand. The company offers end-to-end fleet cars, trucks, and material handling support equipment acquisition; and end-to-end electric vehicle fleet including fleet planning, charging infrastructure solutions, acquisition, financing, maintenance, and remarketing. It provides commercial fleet financing comprising operating and capital lease, sale and leaseback funding, loans, rental fleet financing, client owned acquisition program, and fair market value lease for fleet cars, trucks, and equipment; and vehicle licensing and registration services, such as renewal, fleet title management, and insurance card management services. In addition, the company provides collision management services, such as 24/7 driver assistance, collision evaluation, repair management, and subrogation; fleet management outsourcing solutions; fuel, maintenance, and safety solutions; telematics and fleet connectivity solutions; and toll and violation management, as well as fleet remarketing, sale leaseback, and strategic fleet management consulting services. It serves construction, energy, oil and gas, food and beverages, healthcare, services, and transport sectors. Element Fleet Management Corp. was incorporated in 2007 and is based in Toronto, Canada.
161 Bay Street, Toronto, ON, Canada, M5J 2S1
| Name | Title | Year Born |
|---|---|---|
| Mr. Jay A. Forbes CPA, F.C.A., FCA, FCPA | CEO, Pres & Exec. Director | 1961 |
| Mr. Frank A. Ruperto | Exec. VP & CFO | 1966 |
| Mr. James R. Halliday | Exec. VP & COO | 1972 |
| Mr. David Madrigal | Exec. VP & Chief Commercial Officer | NA |
| Michael Barrett | VP of Investor Relations & Investments | NA |
| Mr. David Colman | Exec. VP, Gen. Counsel & Corp. Sec. | NA |
| Ms. Jacqueline Angela Thomson McGillivray | Exec. VP & Chief People and Social Impact Officer | NA |
| Mr. Imran Hussein | Managing Director | NA |
| Mr. Scott Corman | Exec. Managing Director of Rail & Aviation Fin. | NA |
| Mr. Chris Gittens | Exec. VP & Chief Digital Officer | NA |
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