PBA Valuation

Pembina Pipeline Corp

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37.410

-0.4(-1.058%)1D

Overview
Forecast
Valuation
Earnings

PBA Relative Valuation

PBA's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, PBA is overvalued; if below, it's undervalued.

Historical Valuation

Pembina Pipeline Corp (PBA) is now in the Overvalued zone, suggesting that its current forward PE ratio of 18.11 is considered Overvalued compared with the five-year average of 15.72. The fair price of Pembina Pipeline Corp (PBA) is between 28.59 to 35.27 according to relative valuation methord. Compared to the current price of 37.41 USD , Pembina Pipeline Corp is Overvalued By 6.06%.

Relative Value

Fair Zone

28.59-35.27

Current Price：37.41

6.06%

Overvalued

18.02

Trailing

Forward

10.56

EV/EBITDA

Pembina Pipeline Corp. (PBA) has a current EV/EBITDA of 10.56. The 5-year average EV/EBITDA is 10.22. The thresholds are as follows: Strongly Undervalued below 8.88, Undervalued between 8.88 and 9.55, Fairly Valued between 10.89 and 9.55, Overvalued between 10.89 and 11.56, and Strongly Overvalued above 11.56. The current Forward EV/EBITDA of 10.56 falls within the Historic Trend Line -Fairly Valued range.

12.86

EV/EBIT

Pembina Pipeline Corp. (PBA) has a current EV/EBIT of 12.86. The 5-year average EV/EBIT is 13.21. The thresholds are as follows: Strongly Undervalued below 10.99, Undervalued between 10.99 and 12.10, Fairly Valued between 14.33 and 12.10, Overvalued between 14.33 and 15.44, and Strongly Overvalued above 15.44. The current Forward EV/EBIT of 12.86 falls within the Historic Trend Line -Fairly Valued range.

3.75

Pembina Pipeline Corp. (PBA) has a current PS of 3.75. The 5-year average PS is 3.16. The thresholds are as follows: Strongly Undervalued below -0.21, Undervalued between -0.21 and 1.48, Fairly Valued between 4.84 and 1.48, Overvalued between 4.84 and 6.53, and Strongly Overvalued above 6.53. The current Forward PS of 3.75 falls within the Historic Trend Line -Fairly Valued range.

10.55

P/OCF

Pembina Pipeline Corp. (PBA) has a current P/OCF of 10.55. The 5-year average P/OCF is 8.99. The thresholds are as follows: Strongly Undervalued below 6.73, Undervalued between 6.73 and 7.86, Fairly Valued between 10.11 and 7.86, Overvalued between 10.11 and 11.24, and Strongly Overvalued above 11.24. The current Forward P/OCF of 10.55 falls within the Overvalued range.

20.46

P/FCF

Pembina Pipeline Corp. (PBA) has a current P/FCF of 20.46. The 5-year average P/FCF is 11.90. The thresholds are as follows: Strongly Undervalued below -6.14, Undervalued between -6.14 and 2.88, Fairly Valued between 20.93 and 2.88, Overvalued between 20.93 and 29.95, and Strongly Overvalued above 29.95. The current Forward P/FCF of 20.46 falls within the Historic Trend Line -Fairly Valued range.

Pembina Pipeline Corp (PBA) has a current Price-to-Book (P/B) ratio of 2.03. Compared to its 3-year average P/B ratio of 1.92 , the current P/B ratio is approximately 5.37% higher. Relative to its 5-year average P/B ratio of 1.87, the current P/B ratio is about 8.30% higher. Pembina Pipeline Corp (PBA) has a Forward Free Cash Flow (FCF) yield of approximately 8.36%. Compared to its 3-year average FCF yield of 8.11%, the current FCF yield is approximately 3.14% lower. Relative to its 5-year average FCF yield of 7.78% , the current FCF yield is about 7.54% lower.

2.02

P/B

Median3y

1.92

Median5y

1.87

8.40

FCF Yield

Median3y

8.11

Median5y

7.78

Competitors Valuation Multiple

The average P/S ratio for PBA's competitors is 1.82, providing a benchmark for relative valuation. Pembina Pipeline Corp Corp (PBA) exhibits a P/S ratio of 3.75, which is 105.52% above the industry average. Given its robust revenue growth of -3.40%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

PBA.N

Pembina Pipeline Corp

Western Midstream Partners LP

Plains GP Holdings LP

Plains All American Pipeline LP

0.25

-16.58%

12.22B

Performance Decomposition

Market capitalization of PBA decreased by 5.97% over the past 1 year. The primary factor behind the change was an increase in P/E Change from 16.44 to 17.64.

The secondary factor is the Revenue Growth, contributed -3.40%to the performance.

Overall, the performance of PBA in the past 1 year is driven by P/E Change. Which is more unsustainable.

-3.40%

1.86B → 1.79B

Revenue Growth

-9.88%

25.82 → 23.27

Margin Expansion

7.31%

16.44 → 17.64

P/E Change

-5.97%