# AltaGas Ltd. (ALA-PG.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Utilities / Gas Utilities. Price C$26.55, market value C$7.2 billion.

## Valuation
- **P/E (trailing): 29.9×**. AltaGas Ltd. trades at 29.9× trailing earnings. The Utilities median in the September 2026 study was 21.2×.
- **Price / sales: 0.5×**. Each dollar of revenue is priced at 0.5×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 0.9×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 8.3×**. Enterprise value is 8.3× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: -1.2%**. Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 3.3%**. The inverse of the P/E: 3.3% of the price is earned each year.

## Profitability
- **Gross margin: 27.7%**. AltaGas Ltd. keeps 27.7% of revenue after the direct cost of what it sells.
- **Operating margin: 10.7%**. 10.7% of revenue is left after running the business.
- **Net margin: 6.0%**. 6.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 8.6%**. 8.6% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 5.7%**. Return on all capital, debt included, is 5.7%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 3.1%**. Each dollar of assets produces 3.1% of profit.

## Growth
- **Revenue growth (1 yr): 2.1%** (3-yr -3.4%/yr). Revenue grew 2.1% over the last year.

## Financial health
- **Debt to equity: 1.18**. Debt is 1.18 times equity, a leveraged balance sheet, which is normal for utilities.
- **Net debt / EBITDA: 4.9×**. It would take 4.9 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 3.2×**. Operating profit covers interest 3.2× over, a safe margin.
- **Current ratio: 0.82** (quick 0.64). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 5.67%** (C$1.30 per share, trailing). AltaGas Ltd. yields 5.67%, an income-level yield.
- **Payout ratio: 52%**. 52% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 5**. 5 straight years of increases.
- **Dividend growth (5 yr): 7.2%/yr** (1-yr 28.4%). The dividend has grown 7.2% a year over five years.

## Price and momentum
- **Total return (1 yr): 10.5%** (YTD 6.7%, 3-mo 3.6%). The shares are up 10.5% over twelve months including dividends.
- **From 52-week high: -0.5%** (10.2% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 63**. An RSI of 63 is neutral.
- **Beta (1 yr): -0.03** (volatility 9%). Beta of -0.03 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=ALA-PG.TO · Page: https://foliofundamentals.com/stocks/ala-pg.to

Not investment advice.