Westshore Terminals Investment Corporation (WTE.TO) — Fundamental Analysis & Key Financial Ratios

Kaplio overview: Westshore Terminals Investment Corporation

Market cap CAD 3B · 52 weeks 25 CAD – 46 CAD (1% below the high) · P/E 28.8× · Dividend 3.3% · 5 years rising · Next earnings November 6, 2026 · expected EPS 0.41 CAD · Closing price, Nov 4 · accounts published Aug 5.

• Valuation: TTM P/E 28.8× (no verdict).
• Business: ROIC 4% (weak).
• Balance sheet: Net debt/EBITDA 1.8× (solid).
• Earnings: 4 of 8 (uneven).

Where would it trade at its usual multiples?

No valuation verdict: it is a cyclical and today's P/E (28.8) does not tell whether it is cheap.

In cyclicals the P/E misleads: today's earnings are not the normal ones.

What matters in industrials: 4 of 10 pass

• 5y revenue growth −1.7%, fails.
• ROIC 3.7%, fails.
• Capex / Revenue 99.2%, fails.
• Altman Z-Score 0.4, fails.
• P/E vs own 10y history 28.8×, fails.
• Cycle-adjusted EV/EBITDA 22.1×, fails.
• Operating margin 30.1%, passes.
• FCF conversion 95.1%, passes.
• Net debt / EBITDA 1.8×, passes.
• Piotroski F-Score 4 of 9, passes.

Against its peers (reference peers) — Westshore Terminals Investment Corporation: P/E 28.8×; EV/EBITDA 22.1×; ROIC 3.7%; CAD 2.8B. Navios Maritime Partners L.P. (P/E 5.6×; EV/EBITDA 5.1×; ROIC 8.3%; $2.4B), Danaos Corporation (P/E 5.2×; EV/EBITDA 3.9×; ROIC 9.6%; $2.8B), Okeanis Eco Tankers Corp. (P/E 8.3×; EV/EBITDA 8.2×; ROIC 27.4%; $2.8B).

Expensive or cheap against its last ten years?

P/E at each close: today 28.8× · median 14.9× · minimum 6.3× · maximum 52.6× · cheap vs. its own history below 13.4× · expensive vs. its own history above 18.7×. It has been cheaper than today 93% of the time over its last ten years.

Dividend

fragile · Yield (last 12 months) 3.3% · 1.50 CAD per share in fiscal 2025 · Years raising it 5 · 5-year growth +18.6% a year · Free cash flow coverage 1.0× (last three fiscal years) · With 1,000 CAD invested today you'd collect 33.00 CAD a year (2.75 CAD a month).