TFI International
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
10.968.827.686.74
Price/Sales ratio
0.880.840.760.71
Earnings per Share (EPS)
$8.54$10.61$12.2$13.9

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
26.7920.296.9123.7514.5215.3916.6713.8210.8823.1324.7814.52
Price/Sales ratio
0.920.821.090.790.820.921.211.441.011.551.400.82
Price/Book Value ratio
3.323.223.032.652.683.172.564.693.634.504.232.68
Price/Cash Flow ratio
11.237.8013.1511.717.807.357.5212.199.2111.5210.577.80
Price/Free Cash Flow ratio
15.9812.4019.7563.6418.8616.039.8518.0014.5717.9816.7416.03
Price/Earnings Growth ratio
0.353.750.02-0.320.190.871.220.091.08-0.7110.340.19
Dividend Yield
1.65%2.06%1.44%1.83%1.74%1.70%1.54%0.81%1.04%1.05%0.87%1.70%
Profitability Indicator Ratios
Gross Profit Margin
13.04%12.14%11.96%10.74%13.55%12.67%14.33%14.37%16.19%16.82%14.40%13.55%
Operating Profit Margin
6.66%6.86%6.41%5.14%8.40%9.87%11.01%9.17%13.00%10.07%9.13%8.40%
Pretax Profit Margin
4.89%4.98%5.05%2.47%7.46%8.22%9.59%11.30%12.09%8.99%7.51%7.46%
Net Profit Margin
3.44%4.05%15.88%3.33%5.69%5.99%7.29%10.44%9.34%6.71%5.67%5.99%
Effective Tax Rate
29.58%27.40%22.75%-34.63%23.60%23.82%23.98%18.59%22.74%25.39%24.58%23.60%
Return on Assets
3.72%4.83%15.70%4.23%7.20%6.80%7.16%13.11%14.95%8.03%6.26%6.80%
Return On Equity
12.42%15.90%43.84%11.16%18.51%20.60%15.39%33.97%33.42%19.48%17.80%20.60%
Return on Capital Employed
9.25%11.97%7.38%7.63%12.68%13.03%13.03%15.24%25.24%14.52%12.09%13.03%
Liquidity Ratios
Current Ratio
0.830.761.091.211.081.070.99N/AN/AN/A0.981.07
Quick Ratio
0.820.751.081.201.061.050.980.801.281.230.961.05
Cash ratio
-0.06-0.030.00-0.02-0.01-0.150.000.010.150.310.04-0.01
Days of Sales Outstanding
58.7847.3552.6444.8045.9342.6058.4453.6943.2244.5745.8242.60
Days of Inventory outstanding
1.110.720.870.801.051.110.981.441.191.391.291.05
Operating Cycle
59.8948.0853.5245.6046.9843.7259.4355.1344.4145.9647.1146.98
Days of Payables Outstanding
37.0232.6132.8026.3727.8124.9936.9136.1324.6426.2937.7627.81
Cash Conversion Cycle
22.8715.4620.7119.2219.1718.7322.5118.9919.7619.679.3518.73
Debt Ratios
Debt Ratio
0.460.480.380.400.390.460.220.270.230.290.340.46
Debt Equity Ratio
1.541.591.071.051.011.410.480.720.530.720.921.41
Long-term Debt to Capitalization
0.550.490.510.500.480.570.310.350.340.390.450.57
Total Debt to Capitalization
0.600.610.510.510.500.580.320.420.340.420.480.58
Interest Coverage Ratio
6.326.398.133.9510.738.698.25N/AN/AN/A5.158.69
Cash Flow to Debt Ratio
0.190.260.210.210.340.300.700.530.730.530.430.34
Company Equity Multiplier
3.343.282.792.632.563.022.152.592.232.422.722.56
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.080.100.080.060.100.120.160.110.110.130.130.10
Free Cash Flow / Operating Cash Flow Ratio
0.700.620.660.180.410.450.760.670.630.640.630.41
Cash Flow Coverage Ratio
0.190.260.210.210.340.300.700.530.730.530.430.34
Short Term Coverage Ratio
1.010.6810.976.174.038.5214.202.3526.195.814.414.03
Dividend Payout Ratio
44.21%41.94%10.01%43.68%25.37%26.20%25.81%11.21%11.35%24.42%27.97%25.37%