EIF Relative Valuation - Exchange Income Corp

Watchlist Manager

Watchlist

Price: 57.78 CAD 0.02%

Market Cap: 3B CAD

Have any thoughts about
Exchange Income Corp?

Write Note

Section:

Relative Value

The Relative Value of one EIF stock under the Base Case scenario is 98.08 CAD. Compared to the current market price of 57.78 CAD, Exchange Income Corp is Undervalued by 41%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

What is Relative Valuation?

How is Relative Value calculated?

EIF Relative Value

Base Case

Worst Case

Base Case

Best Case

Valuation Multiples

1.1

P/S

vs History	19
vs Industry	22

Median 5Y

Industry

0.5

Forward

More Details

23.9

P/E

vs History	26
vs Industry	11

Median 5Y

20.6

Industry

Forward

15.5

More Details

7.5

P/OCF

vs History	9
vs Industry	11

Median 5Y

6.1

Industry

2.9

More Details

33.6

P/FCFE

vs History	20
vs Industry	5

Median 5Y

8.2

Industry

9.3

More Details

P/B

vs History	22
vs Industry	37

Median 5Y

1.9

Industry

1.9

More Details

1.9

EV/S

vs History	31
vs Industry	14

Median 5Y

1.8

Industry

0.9

Forward

1.7

More Details

5.1

EV/GP

vs History	39
vs Industry	31

Median 5Y

5.1

Industry

3.1

More Details

EV/EBITDA

vs History	42
vs Industry	29

Median 5Y

7.9

Industry

5.8

Forward

7.2

More Details

15.9

EV/EBIT

vs History	50
vs Industry	18

Median 5Y

Industry

9.6

Forward

13.3

More Details

EV/OCF

vs History	19
vs Industry	16

Median 5Y

11.2

Industry

5.5

More Details

Negative

EV/FCFF

vs History
vs Industry

Median 5Y

-35.4

Industry

10.3

More Details

1.3

EV/IC

vs History	14
vs Industry	21

Median 5Y

1.2

Industry

0.8

More Details

Multiples Across Competitors

All Multiples

P/S

P/E

EV/EBITDA

EV/EBIT

Forward Multiples

			Market Cap	P/S	P/E	EV/EBITDA	EV/EBIT
CA		Exchange Income Corp TSX:EIF	3B CAD	1.1	23.9	8	15.9
US		Delta Air Lines Inc NYSE:DAL	31.3B USD	0.5	8.5	3.9	6.8
IN		Interglobe Aviation Ltd NSE:INDIGO	2.1T INR	2.8	34.8	12.7	22.2
US		United Airlines Holdings Inc NASDAQ:UAL	24.3B USD	0.4	6.6	5.9	5.9
CH		Kinarus Therapeutics Holding AG SIX:KNRS	19.5B CHF	0	-1 404.3	-1 404.9	-1 404.9
UK		International Consolidated Airlines Group SA LSE:IAG	15.8B GBP	0.5	6.5	105.6	161.3
IE	R	Ryanair Holdings PLC LSE:RYA	15.4B EUR	1.1	8	4.5	6.8
CN		Air China Ltd SSE:601111	139.6B CNY	0.8	-230	-176.7	-176.7
US		Southwest Airlines Co NYSE:LUV	17.5B USD	0.7	33.4	6.6	28.8
SG		Singapore Airlines Ltd SGX:C6L	21.1B SGD	1.1	7.6	5.5	13.1
CN		China Southern Airlines Co Ltd SSE:600029	110.7B CNY	0.6	-34.6	61.5	61.5

				Revenue Growth	P/S to Growth
CA		Exchange Income Corp TSX:EIF	Average P/S: 1 1.1	9%	0.1
US		Delta Air Lines Inc NYSE:DAL	0.5	1%	0.5
IN		Interglobe Aviation Ltd NSE:INDIGO	2.8	13%	0.2
US		United Airlines Holdings Inc NASDAQ:UAL	0.4	6%	0.1
CH		Kinarus Therapeutics Holding AG SIX:KNRS	Not Available	N/A	N/A
UK		International Consolidated Airlines Group SA LSE:IAG	0.5	5%	0.1
IE	R	Ryanair Holdings PLC LSE:RYA	1.1	9%	0.1
CN		Air China Ltd SSE:601111	0.8	7%	0.1
US		Southwest Airlines Co NYSE:LUV	0.7	5%	0.1
SG		Singapore Airlines Ltd SGX:C6L	1.1	1%	1.1
CN		China Southern Airlines Co Ltd SSE:600029	0.6	6%	0.1

				Earnings Growth	PEG
CA		Exchange Income Corp TSX:EIF	Average P/E: 16.2 23.9	29%	0.8
US		Delta Air Lines Inc NYSE:DAL	8.5	13%	0.7
IN		Interglobe Aviation Ltd NSE:INDIGO	34.8	4%	8.7
US		United Airlines Holdings Inc NASDAQ:UAL	6.6	14%	0.5
CH		Kinarus Therapeutics Holding AG SIX:KNRS	Negative Multiple: -1 404.3	N/A	N/A
UK		International Consolidated Airlines Group SA LSE:IAG	6.5	9%	0.7
IE	R	Ryanair Holdings PLC LSE:RYA	8	14%	0.6
CN		Air China Ltd SSE:601111	Negative Multiple: -230	N/A	N/A
US		Southwest Airlines Co NYSE:LUV	33.4	62%	0.5
SG		Singapore Airlines Ltd SGX:C6L	7.6	N/A	N/A
CN		China Southern Airlines Co Ltd SSE:600029	Negative Multiple: -34.6	N/A	N/A

				EBITDA Growth	EV/EBITDA to Growth
CA		Exchange Income Corp TSX:EIF	Average EV/EBITDA: 23.8 8	10%	0.8
US		Delta Air Lines Inc NYSE:DAL	3.9	5%	0.8
IN		Interglobe Aviation Ltd NSE:INDIGO	12.7	13%	1
US		United Airlines Holdings Inc NASDAQ:UAL	5.9	9%	0.7
CH		Kinarus Therapeutics Holding AG SIX:KNRS	Negative Multiple: -1 404.9	N/A	N/A
UK		International Consolidated Airlines Group SA LSE:IAG	105.6	7%	15.1
IE	R	Ryanair Holdings PLC LSE:RYA	4.5	10%	0.4
CN		Air China Ltd SSE:601111	Negative Multiple: -176.7	N/A	N/A
US		Southwest Airlines Co NYSE:LUV	6.6	30%	0.2
SG		Singapore Airlines Ltd SGX:C6L	5.5	-5%	N/A
CN		China Southern Airlines Co Ltd SSE:600029	61.5	105%	0.6

				EBIT Growth	EV/EBIT to Growth
CA		Exchange Income Corp TSX:EIF	Average EV/EBIT: 35.8 15.9	12%	1.3
US		Delta Air Lines Inc NYSE:DAL	6.8	6%	1.1
IN		Interglobe Aviation Ltd NSE:INDIGO	22.2	7%	3.2
US		United Airlines Holdings Inc NASDAQ:UAL	5.9	7%	0.8
CH		Kinarus Therapeutics Holding AG SIX:KNRS	Negative Multiple: -1 404.9	N/A	N/A
UK		International Consolidated Airlines Group SA LSE:IAG	161.3	6%	26.9
IE	R	Ryanair Holdings PLC LSE:RYA	6.8	11%	0.6
CN		Air China Ltd SSE:601111	Negative Multiple: -176.7	N/A	N/A
US		Southwest Airlines Co NYSE:LUV	28.8	94%	0.3
SG		Singapore Airlines Ltd SGX:C6L	13.1	-21%	N/A
CN		China Southern Airlines Co Ltd SSE:600029	61.5	53%	1.2

US	Johnson & Johnson NYSE:JNJ	Pharmaceuticals
US	Berkshire Hathaway Inc NYSE:BRK.A	Financial Services
US	Bank of America Corp NYSE:BAC	Banking
US	Mastercard Inc NYSE:MA	Technology
US	UnitedHealth Group Inc NYSE:UNH	Health Care
US	Exxon Mobil Corp NYSE:XOM	Energy
US	Pfizer Inc NYSE:PFE	Pharmaceuticals
US	Palantir Technologies Inc NYSE:PLTR	Technology
US	Nike Inc NYSE:NKE	Textiles, Apparel & Luxury Goods
US	Visa Inc NYSE:V	Technology
CN	Alibaba Group Holding Ltd NYSE:BABA	Retail
US	JPMorgan Chase & Co NYSE:JPM	Banking
US	Coca-Cola Co NYSE:KO	Beverages
US	Walmart Inc NYSE:WMT	Retail
US	Verizon Communications Inc NYSE:VZ	Telecommunication
US	Chevron Corp NYSE:CVX	Energy

	Johnson & Johnson NYSE:JNJ	151.45 USD -1.13%
	Berkshire Hathaway Inc NYSE:BRK.A	756 540.1612 USD -0.64%
	Bank of America Corp NYSE:BAC	43.335 USD 0.2%
	Mastercard Inc NYSE:MA	568.4472 USD -0.19%
	UnitedHealth Group Inc NYSE:UNH	298.645 USD -1.43%
	Exxon Mobil Corp NYSE:XOM	102.3102 USD -1.3%

	Franklin Covey Co NYSE:FC	23.225 USD 1.29%
	Mohawk Industries Inc NYSE:MHK	100.79 USD -1.65%
	Ardmore Shipping Corp NYSE:ASC	9.725 USD -4.19%
	ASGN Inc NYSE:ASGN	53.95 USD -0.52%
	Skyworks Solutions Inc NASDAQ:SWKS	70.56 USD -1.11%
	Weatherford International PLC NASDAQ:WFRD	44.89 USD -1.25%

	Johnson & Johnson NYSE:JNJ	151.45 USD -1.13%
	Bank of America Corp NYSE:BAC	43.335 USD 0.2%
	Mastercard Inc NYSE:MA	568.4472 USD -0.19%
	Salesforce Inc NYSE:CRM	284.38 USD 0.74%
	Abbvie Inc NYSE:ABBV	180.39 USD -0.78%
	Home Depot Inc NYSE:HD	366.36 USD -1.21%

	Arista Networks Inc NYSE:ANET	93.215 USD 0.85%
	Visa Inc NYSE:V	356.93 USD -0.38%
	Texas Pacific Land Corp NYSE:TPL	1 297.67 USD -4.28%
	KLA Corp NASDAQ:KLAC	774.1 USD -0.62%
	Manhattan Associates Inc NASDAQ:MANH	188.065 USD 0.05%
	Monolithic Power Systems Inc NASDAQ:MPWR	682.56 USD 0.58%

Exchange Income Corp
TSX:EIF

Relative Value

Valuation Multiples

Multiples Across Competitors

EIF Competitors Multiples
Exchange Income Corp Competitors

See Also

Company

Help

Tools

Stocks

	ServiceNow Inc NYSE:NOW	1 021.2 USD 0.63%
	Spotify Technology SA NYSE:SPOT	641.115 USD -0.29%
	EOG Resources Inc NYSE:EOG	109.9 USD -1.33%
	Monster Beverage Corp NASDAQ:MNST	62.66 USD -0.7%
	Copart Inc NASDAQ:CPRT	60.76 USD -0.54%
	Applied Materials Inc NASDAQ:AMAT	161.93 USD -0.18%

52 Week Range	43.2513 59.27
Price Target

Exchange Income Corp TSX:EIF

Relative Value

Valuation Multiples

Multiples Across Competitors

EIF Competitors Multiples Exchange Income Corp Competitors

See Also

Company

Help

Tools

Stocks

Exchange Income Corp
TSX:EIF

EIF Competitors Multiples
Exchange Income Corp Competitors