# Chemtrade Logistics Income Fund (CHE-UN.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Basic Materials / Chemicals. Price C$15.12, market value C$1.7 billion.

## Valuation
- **P/E (trailing): 11.9×** (5-yr avg 8.4×, 3-yr avg 8.8×). Chemtrade Logistics Income Fund trades at 11.9× trailing earnings, well above its own five-year average of 8.4×: investors are paying up relative to the company's past. The Basic Materials median in the September 2026 study was 19.0×. Forward P/E is 9.7×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.56**. A PEG of 0.56 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 0.8×**. Each dollar of revenue is priced at 0.8×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 2.1×**. The shares trade at 2.1× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 5.2×**. Enterprise value is 5.2× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 12.7%** (5-yr avg 17.9%). Free cash flow equals 12.7% of the market value, below its five-year average of 17.9%, so the shares are pricier on cash than usual. Above 5% is generally attractive.
- **Earnings yield: 8.4%**. The inverse of the P/E: 8.4% of the price is earned each year.

## Profitability
- **Gross margin: 20.3%**. Chemtrade Logistics Income Fund keeps 20.3% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 14.4%**. 14.4% of revenue is left after running the business.
- **Net margin: 7.0%**. 7.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 18.0%**. 18.0% on shareholders' equity is solid.
- **Return on invested capital: 14.2%**. Return on all capital, debt included, is 14.2%.
- **Return on assets: 5.9%**. Each dollar of assets produces 5.9% of profit.

## Growth
- **Revenue growth (1 yr): 11.8%** (3-yr 3.3%/yr, 5-yr 7.7%/yr). Revenue grew 11.8% over the last year, against 7.7% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 17.3%** (3-yr 7.2%/yr). Earnings per share rose 17.3%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): -11.1%/yr**. Free cash flow has compounded at -11.1% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 1.55**. Debt is 1.55 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 2.1×**. It would take 2.1 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 2.8×**. Operating profit covers interest 2.8×, thin but manageable.
- **Current ratio: 0.90** (quick 0.60). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 2.16**. A Z-score of 2.16 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 4.76%** (C$0.70 per share, trailing). Chemtrade Logistics Income Fund yields 4.76%, an income-level yield.
- **Payout ratio: 57%** (37% of free cash flow). 57% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 4**. 4 straight years of increases.
- **Dividend growth (5 yr): -0.3%/yr** (1-yr 4.5%). The dividend has not grown over five years.
- **Shareholder yield: 4.1%**. Dividends plus net buybacks return 4.1% of the market value a year.

## Price and momentum
- **Total return (1 yr): 21.8%** (YTD 4.8%, 3-mo -8.1%). The shares are up 21.8% over twelve months including dividends.
- **From 52-week high: -18.0%** (18.1% above the low). Trading 18% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 37**. An RSI of 37 is neutral.
- **Beta (1 yr): 0.45** (volatility 33%). Beta of 0.45 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CHE-UN.TO · Page: https://foliofundamentals.com/stocks/che-un.to

Not investment advice.