Bullboard - Stock Discussion Forum Aecon Group Inc T.ARE

Alternate Symbol(s): AEGXF

Aecon Group Inc. is a Canada-based construction and infrastructure development company. The Company delivers integrated solutions to private and public sector clients throughout Canada and other countries. It operates through two segments within the infrastructure development industry: Construction and Concessions. Its Construction segment includes all aspects of the construction of both public... see more

Add To Watchlist

TSX:ARE - Post Discussion

Aecon Group Inc > Updated Aecon valuation

View:

Post by Gabriel on Apr 30, 2024 9:17am

Updated Aecon valuation

364.9m is the pro forma adjusted EBITDA excluding LSTKs and property sale and business dispositions. See slide 23 of the investor presentation below. The 10-year average multiple of Aecon's valuation is 5.7x. Use minimally 6 with the new forms of contracting, concessions mix and loaded backlog. 6 x 364.9 = 2.19B or 35$ per share.

https://aeconcomfiles.blob.core.windows.net/web-live/docs/default-source/investor-briefcase/are---q1-2024-ir-presentation.pdf?sfvrsn=feb6b2fc_3

164

Comment

Comment by Gabriel on Apr 30, 2024 7:44pm

And the pro forma adjusted EBITDA margin over the last 12 months, on the same page 23, is 9.5%, substantially up from last year's 8.6%, meaning we are 9.5/8.6 = over 10% more profitable than last year and close to twice more profitable than we were over the last 10 years. I like that so I bought 28,000 shares today.

136

Comment