Saputo Inc.

(TSX:SAP) > Quick Comparable Analysis > Financial Data

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Template: Capital IQ Default Comps
Currency: US Dollar
As-Of Date: Aug-08-2022

Company Comp Set

Company Name Day Close Price Latest Shares Outstanding Latest Market Capitalization Latest LTM Net Debt

Conagra Brands, Inc. (NYSE:CAG) 34.43 480.1 16,529.6 9,137.1

Metro Inc. (TSX:MRU) 54.3 238.9 12,973.7 3,284.8
Campbell Soup Company (NYSE:CPB) 49.42 300.6 14,854.4 4,797.0
The Hershey Company (NYSE:HSY) 227.11 205.0 46,553.8 5,003.7
McCormick & Company, Incorporated (NYSE:MKC) 88.33 268.3 23,695.8 5,049.1
George Weston Limited (TSX:WN) 116.8 144.6 16,888.2 13,207.7
Fonterra Co-operative Group Limited (NZSE:FCG) 1.68 1,612.8 2,715.9 3,338.5
Maple Leaf Foods Inc. (TSX:MFI) 16.9 124.1 2,098.1 1,236.9
Hormel Foods Corporation (NYSE:HRL) 48.91 546.1 26,707.6 2,435.7
The Kraft Heinz Company (NasdaqGS:KHC) 37.57 1,225.4 46,039.8 19,609.0

Saputo Inc. (TSX:SAP) 26.26 417.9 10,971.9 3,099.9

Summary Statistics Day Close Price Latest Shares Outstanding Latest Market Capitalization Latest LTM Net Debt

High 227.11 1,612.8 46,553.8 19,609.0

Low 1.68 124.1 2,098.1 1,236.9
Mean 67.55 514.6 20,905.7 6,709.9
Median 49.17 284.4 16,708.9 4,900.3

Displaying 11 Companies.

Values converted at today's spot rate.

Companies by default are sorted by S&P Capital IQ’s proprietary relevancy score.
Historical Equity Pricing Data supplied by Interactive Data Pricing and Reference Data LLC
LTM Total Pref. Equity LTM Minority Interest Total Enterprise Value Latest LTM Tangible Book LTM Filing Date, Income LTM Total Revenue
Value/Share Statement
- 74.5 25,741.2 ( 13.32) Jul-21-2022 11,535.9
- 10.27 16,268.8 0.96 Apr-21-2022 14,215.4
- 2.0 19,653.4 ( 12.64) Jun-08-2022 8,448.0
- - 51,557.4 ( 9.9) Jul-28-2022 9,724.8
- 16.9 28,761.8 ( 15.36) Jun-29-2022 6,338.9
631.11 4,760.73 35,487.8 ( 28.88) Jul-29-2022 42,084.1
- 0.62 6,055.0 1.72 Mar-17-2022 13,443.9
- - 3,334.9 6.2 Aug-04-2022 3,577.2
- 5.81 29,149.1 1.08 Jun-02-2022 12,459.3
- 206.0 65,854.8 ( 20.69) Jul-28-2022 25,632.0

- - 14,071.8 3.8 Aug-04-2022 12,262.2

LTM Total Pref. Equity LTM Minority Interest Total Enterprise Value Latest LTM Tangible Book LTM Filing Date, Income LTM Total Revenue
Value/Share Statement
631.11 4,760.73 65,854.8 6.2 - 42,084.1
631.11 0.62 3,334.9 ( 28.88) - 3,577.2
631.11 634.6 28,186.4 ( 9.08) - 14,746.0
631.11 13.59 27,251.5 ( 11.27) - 11,997.6
LTM EBITDA LTM EBIT LTM Diluted EPS Excl. Extra NTM Revenue (Capital IQ) NTM EBITDA (Capital IQ) NTM EPS (Capital IQ)
Items
2,014.9 1,726.4 1.84 12,035.61 2,218.08 2.41
1,319.4 1,079.8 2.7 14,646.81 1,442.04 3.05
1,738.0 1,403.0 3.12 8,766.93 1,657.63 2.86
2,561.7 2,215.8 7.86 10,529.96 2,698.49 8.54
1,170.2 990.2 2.53 6,689.19 1,390.9 3.29
4,194.5 3,079.1 6.94 43,545.85 5,092.39 7.65
807.0 537.6 0.21 - - -
189.5 67.7 0.03 3,777.66 393.67 1.18
1,502.0 1,250.5 1.75 12,457.28 1,640.26 1.94
6,018.0 5,101.0 1.23 26,208.85 6,006.99 2.7

835.0 494.4 0.66 13,239.31 1,216.14 1.26

LTM EBITDA LTM EBIT LTM Diluted EPS Excl. Extra NTM Revenue (Capital IQ) NTM EBITDA (Capital IQ) NTM EPS (Capital IQ)
Items
6,018.0 5,101.0 7.86 43,545.85 6,006.99 8.54
189.5 67.7 0.03 3,777.66 393.67 1.18
2,151.5 1,745.1 2.82 15,406.46 2,504.49 3.73
1,620.0 1,326.7 2.18 12,035.61 1,657.63 2.86
Saputo Inc. (TSX:SAP) > Quick Comparable Analysis > Trading Multiples

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Template: Capital IQ Default Comps
Currency: US Dollar
As-Of Date: Aug-08-2022

Company Comp Set

Company Name TEV/Total Revenues LTM - TEV/EBITDA LTM - Latest TEV/EBIT LTM - Latest P/Diluted EPS Before Extra
Latest LTM - Latest
Conagra Brands, Inc. (NYSE:CAG) 2.2x 11.6x 13.8x 18.7x
Metro Inc. (TSX:MRU) 1.1x 11.3x 15.1x 20.1x
Campbell Soup Company (NYSE:CPB) 2.3x 9.4x 14.0x 15.8x
The Hershey Company (NYSE:HSY) 5.3x 19.8x 23.3x 28.9x
McCormick & Company, Incorporated (NYSE:MKC) 4.5x 23.0x 28.0x 34.9x
George Weston Limited (TSX:WN) 0.8x 7.6x 11.5x 16.8x
Fonterra Co-operative Group Limited (NZSE:FCG) 0.5x 6.9x 11.2x 8.0x
Maple Leaf Foods Inc. (TSX:MFI) 0.9x 15.3x 49.2x NM
Hormel Foods Corporation (NYSE:HRL) 2.3x 13.9x 22.7x 27.9x
The Kraft Heinz Company (NasdaqGS:KHC) 2.6x 8.9x 12.9x 30.6x

Saputo Inc. (TSX:SAP) 1.1x 15.7x 28.5x 39.5x

Summary Statistics TEV/Total Revenues LTM - TEV/EBITDA LTM - Latest TEV/EBIT LTM - Latest P/Diluted EPS Before Extra
Latest LTM - Latest
High 5.3x 23.0x 49.2x 34.9x
Low 0.5x 6.9x 11.2x 8.0x
Mean 2.3x 12.8x 20.2x 22.4x
Median 2.3x 11.4x 14.5x 20.1x

Displaying 11 Companies.

Values converted at today's spot rate.

Companies by default are sorted by S&P Capital IQ’s proprietary relevancy score.
Historical Equity Pricing Data supplied by Interactive Data Pricing and Reference Data LLC
P/TangBV LTM - Latest NTM TEV/Forward Total NTM TEV/Forward EBITDA NTM Forward P/E (Capital IQ)
Revenue (Capital IQ) (Capital IQ)
NM 2.14x 11.61x 14.30x
56.6x 1.11x 11.28x 17.81x
NM 2.24x 11.86x 17.28x
NM 4.90x 19.11x 26.61x
NM 4.30x 20.68x 26.87x
NM 0.81x 6.97x 15.27x
1.0x - - -
2.7x 0.88x 8.47x 14.30x
45.3x 2.34x 17.77x 25.25x
NM 2.51x 10.96x 13.91x

6.9x 1.06x 11.57x 20.88x

P/TangBV LTM - Latest NTM TEV/Forward Total NTM TEV/Forward EBITDA NTM Forward P/E (Capital IQ)
Revenue (Capital IQ) (Capital IQ)
56.6x 4.90x 20.68x 26.87x
1.0x 0.81x 6.97x 13.91x
26.4x 2.36x 13.19x 19.07x
24.0x 2.24x 11.61x 17.28x
Saputo Inc. (TSX:SAP) > Quick Comparable Analysis > Operating Statistics

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Template: Capital IQ Default Comps
Currency: US Dollar
As-Of Date: Aug-08-2022

Company Comp Set

Company Name LTM Gross Margin % LTM EBITDA Margin % LTM EBIT Margin % LTM Net Income Margin %

Conagra Brands, Inc. (NYSE:CAG) 24.8% 17.5% 15.0% 7.70%

Metro Inc. (TSX:MRU) 11.9% 9.3% 7.6% 4.62%
Campbell Soup Company (NYSE:CPB) 31.4% 20.6% 16.6% 11.23%
The Hershey Company (NYSE:HSY) 44.4% 26.3% 22.8% 16.76%
McCormick & Company, Incorporated (NYSE:MKC) 37.7% 18.5% 15.6% 10.78%
George Weston Limited (TSX:WN) 32.5% 10.0% 7.3% 2.54%
Fonterra Co-operative Group Limited (NZSE:FCG) 13.4% 6.0% 4.0% 2.57%
Maple Leaf Foods Inc. (TSX:MFI) 12.3% 5.3% 1.9% 0.12%
Hormel Foods Corporation (NYSE:HRL) 17.1% 12.1% 10.0% 7.70%
The Kraft Heinz Company (NasdaqGS:KHC) 31.9% 23.5% 19.9% 5.92%

Saputo Inc. (TSX:SAP) 7.6% 6.8% 4.0% 2.27%

Summary Statistics LTM Gross Margin % LTM EBITDA Margin % LTM EBIT Margin % LTM Net Income Margin %

High 44.4% 26.3% 22.8% 16.76%

Low 11.9% 5.3% 1.9% 0.12%
Mean 25.7% 14.9% 12.1% 6.99%
Median 28.1% 14.8% 12.5% 6.81%

Displaying 11 Companies.

Values converted at today's spot rate.

Companies by default are sorted by S&P Capital IQ’s proprietary relevancy score.
Historical Equity Pricing Data supplied by Interactive Data Pricing and Reference Data LLC
LTM Total Revenues, 1 Yr LTM EBITDA, 1 Yr Growth % LTM EBIT, 1 Yr Growth % LTM Net Income, 1 Yr Growth LTM Total Debt/Capital % LTM Total Debt/EBITDA
Growth % %
3.14% (14.47%) (12.28%) (31.61%) 50.99% 4.4x
(0.26%) 0.23% (0.20%) 2.62% 40.76% 2.4x
(3.02%) 0.70% (0.21%) 18.63% 59.53% 2.4x
11.90% 8.87% 8.26% 13.50% 64.89% 2.0x
5.19% (6.74%) (9.31%) (9.19%) 53.80% 4.4x
1.09% 2.88% 6.12% 102.64% 60.08% 3.3x
8.82% (4.78%) (8.10%) 3.17% 46.53% 4.2x
5.29% (34.92%) (62.58%) (96.32%) 45.62% 6.0x
26.24% 13.14% 11.81% 8.13% 31.14% 1.6x
(2.87%) (13.40%) (15.28%) (29.93%) 30.13% 2.9x

10.31% (16.46%) (27.36%) (32.96%) 39.24% 3.7x

LTM Total Revenues, 1 Yr LTM EBITDA, 1 Yr Growth % LTM EBIT, 1 Yr Growth % LTM Net Income, 1 Yr Growth LTM Total Debt/Capital % LTM Total Debt/EBITDA
Growth % %
26.24% 13.14% 11.81% 102.64% 64.89% 6.0x
(3.02%) (34.92%) (62.58%) (96.32%) 30.13% 1.6x
5.55% (4.85%) (8.18%) (1.84%) 48.35% 3.4x
4.16% (2.27%) (4.16%) 2.89% 48.76% 3.1x
NTM LT EPS Growth Rate 5 Year Beta
(Capital IQ)
5.37% 0.58
10.59% ( 0.03)
1.97% 0.36
10.34% 0.34
3.75% 0.49
- 0.34
- ( 0.15)
17.38% 0.45
6.68% 0.12
(1.33%) 0.74

10.20% 0.47

NTM LT EPS Growth Rate 5 Year Beta

(Capital IQ)
17.38% 0.74
(1.33%) ( 0.15)
6.84% 0.32
6.03% 0.35
Saputo Inc. (TSX:SAP) > Quick Comparable Analysis > Business Description

Details
Template: Capital IQ Default Comps
Currency: US Dollar
As-Of Date: Aug-08-2022

Company Comp Set

Company Name Business Description Headquarters
Conagra Brands, Inc. (NYSE:CAG) Conagra Brands, Inc., together with its 222 West Merchandise Mart Plaza,
Metro Inc. (TSX:MRU) subsidiaries,
Metro Inc. operates operates as as a consumer Suite
a retailer, 110111300, Chicago, Illinois,
Maurice-Duplessis 60654,
Boulevard,
packaged goods
franchisor, distributor, food company and in United States
Montreal, Quebec, H1C 1V6, Canada
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North America. Soup The Company, company together 1 Campbell Place, Camden, New
manufacturer
with its subsidiaries, in the food and operates
manufactures and Jersey, 08103-1799, United States
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together
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markets
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engages in the products
International, Pennsylvania, 17033, United States
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McCormick
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andUnited
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States and
provide
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financial Toronto, Ontario, M4T 2S5, Canada
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industry.
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Inc.inandtwo bakery
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Companies by default are sorted by S&P Capital IQ’s proprietary relevancy score.
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Saputo Inc. (TSX:SAP) > Quick Comparable Analysis > Implied Valuation

Details
Template: Capital IQ Default Comps
Currency: US Dollar
As-Of Date: Aug-08-2022

Company Comp Set

Company Name LTM Total Revenue LTM EBITDA LTM EBIT NTM Revenue (Capital IQ)

Saputo Inc. (TSX:SAP) 12,262.2 835.0 494.4 13,239.31

Total Enterprise Value Multiples

LTM TEV/Total Revenues LTM TEV/EBITDA LTM TEV/EBIT NTM TEV/Forward Total Revenue

High 5.3x 23.0x 49.2x 4.90x

Low 0.5x 6.9x 11.2x 0.81x
Mean 2.3x 12.8x 20.2x 2.36x
Median 2.3x 11.4x 14.5x 2.24x

Implied Enterprise Value

High 65,009.9 19,207.6 24,339.9 64,823.1
Low 5,522.8 5,749.7 5,517.0 10,789.39
Mean 27,805.7 10,658.2 9,970.6 31,241.27
Median 27,944.3 9,549.2 7,187.1 29,679.48

+ Total Cash & ST Investments 177.7 177.7 177.7 177.7

- Total Debt 3,277.6 3,277.6 3,277.6 3,277.6
- Total Pref. Equity - - - -
- Minority Interest - - - -

= Implied Equity Value

High 61,910.0 16,107.7 21,239.9 61,723.18
Low 2,422.9 2,649.8 2,417.0 7,689.47
Mean 24,705.7 7,558.2 6,870.7 28,141.35
Median 24,844.3 6,449.2 4,087.2 26,579.56

/ Shares Outstanding 417.88 417.88 417.88 417.88

= Implied Price per Share

High 148.2 38.5 50.8 147.71
Low 5.8 6.3 5.8 18.4
Mean 59.1 18.1 16.4 67.34
Median 59.5 15.4 9.8 63.61

Mean Equity Value Across Multiples Equity Value Price Per Share

High 37,100.97 88.78

Low 3,956.48 9.47
Mean 17,307.0 41.42
Median 15,732.11 37.65

Values converted at today's spot rate.

Historical Equity Pricing Data supplied by Interactive Data Pricing and Reference Data LLC
 NTM EBITDA (Capital IQ) LTM Basic EPS NTM EPS (Capital IQ) LTM Tangible Book Value/Share

1,216.14 0.67 1.26 3.8

Pricing Multiples

NTM TEV/Forward EBITDA LTM P/Diluted EPS Before Extra NTM Forward P/E LTM P/TangBV

20.68x 34.9x 26.87x 56.6x

6.97x 8.0x 13.91x 1.0x
13.19x 22.4x 19.07x 26.4x
11.61x 20.1x 17.28x 24.0x

25,147.93
8,475.0
16,039.78
14,113.48

177.7
3,277.6
-
-

22,048.01 9,774.28 14,117.52 89,887.09

5,375.08 2,233.06 7,309.63 1,554.94
12,939.86 6,275.26 10,017.67 41,947.13
11,013.56 5,632.09 9,077.61 38,173.24

417.88 417.88 417.88 417.88

52.76 23.39 33.78 215.1

12.86 5.34 17.49 3.72
30.97 15.02 23.97 100.38
26.36 13.48 21.72 91.35
Saputo Inc. (TSX:SAP) > Quick Comparable Analysis > Valuation Chart

Details
Template: Capital IQ Default Comps
Currency: US Dollar
As-Of Date: Aug-08-2022

Company Comp Set

Values converted at today's spot rate.
Historical Equity Pricing Data supplied by Interactive Data Pricing and Reference Data LLC
Saputo Inc. (TSX:SAP) > Quick Comparable Analysis > Credit Health Panel

Details
Template: Capital IQ Default Comps
Currency: US Dollar
As-Of Date: Aug-08-2022

Company Comp Set

Company Name LTM Period Ending
Overall Operational Solvency Liquidity

The Hershey Company (NYSE:HSY) 1 1 2 3 Jul-03-2022

Hormel Foods Corporation (NYSE:HRL) 1 2 1 1 May-01-2022
George Weston Limited (TSX:WN) 2 1 3 2 Jun-18-2022
Metro Inc. (TSX:MRU) 2 3 1 3 Mar-12-2022
The Kraft Heinz Company (NasdaqGS:KHC) 3 2 3 2 Jun-25-2022
Campbell Soup Company (NYSE:CPB) 3 2 3 4 May-01-2022
Maple Leaf Foods Inc. (TSX:MFI) 3 4 2 2 Jun-30-2022
Fonterra Co-operative Group Limited (NZSE:FCG) 4 3 4 3 Jan-31-2022
McCormick & Company, Incorporated (NYSE:MKC) 4 3 4 4 May-31-2022
Conagra Brands, Inc. (NYSE:CAG) 4 4 4 4 May-29-2022

Saputo Inc. (TSX:SAP) 2 4 2 1 Jun-30-2022

Displaying 11 Companies.

Values converted at today's spot rate.

Credit Health Panel metric values are calculated by converting all currencies to USD based on yesterday’s spot rate. Currencies displayed on the page are converted at today’s spot rate from yesterday’s USD value.
No content (including ratings, credit-related analyses and data, valuations, model, software or other application or output therefrom) or any part thereof (Content) may be modified, reverse engineered, reproduced or distribu
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 Financials Updated S&P Issuer Credit Rating Foreign Market Signal Probability of Default Country/Region
CreditModel Score
Currency LT Rating %
Jul-29-2022 A a- 0.0602% United States
Jun-03-2022 A a- 0.1343% United States
Jul-31-2022 BBB bbb- 0.4719% Canada
Apr-22-2022 BBB bbb- 0.0683% Canada
Jul-29-2022 BBB- bbb 1.0508% United States
Jun-09-2022 BBB- bbb 0.2761% United States
Aug-07-2022 - bb 0.9913% Canada
Mar-18-2022 A- bbb- 2.3561% New Zealand
Jun-30-2022 BBB bbb 0.4459% United States
Jul-24-2022 BBB- bbb- 0.6177% United States

Aug-07-2022 - bbb- 0.4696% Canada

y’s USD value.

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Primary Industry Classification

Packaged Foods and Meats

Packaged Foods and Meats
Food Retail
Food Retail
Packaged Foods and Meats
Packaged Foods and Meats
Packaged Foods and Meats
Packaged Foods and Meats
Packaged Foods and Meats
Packaged Foods and Meats

Packaged Foods and Meats

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