{"id":49622,"date":"2023-06-06T12:41:24","date_gmt":"2023-06-06T12:41:24","guid":{"rendered":"https:\/\/www.inovestor.com\/?p=49622"},"modified":"2023-10-05T15:30:51","modified_gmt":"2023-10-05T15:30:51","slug":"eleven-tsx-companies-that-leverage-free-cash-flow-for-value-creation-and-growth","status":"publish","type":"post","link":"https:\/\/www.inovestor.com\/en-ca\/2023\/06\/eleven-tsx-companies-that-leverage-free-cash-flow-for-value-creation-and-growth\/","title":{"rendered":"Eleven TSX companies that leverage free cash flow for value creation and growth"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"49622\" class=\"elementor elementor-49622\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6f0a04a2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6f0a04a2\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-36e0d7a8\" data-id=\"36e0d7a8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-37851977 elementor-widget elementor-widget-text-editor\" data-id=\"37851977\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>What are we looking for?<br><\/b>Free cash flow serves as a key indicator of long-term sustainability by providing insight into a company\u2019s ability to acquire other companies, repay debts and distribute dividends.<\/p>\n<p>Today, our focus will be on identifying companies that generate significant free cash flow while they effectively manage value creation and growth.<\/p>\n<p><b>The screen (add this screener&nbsp;<\/b><a href=\"https:\/\/account.inovestor.com\/InoAdvisor\/en-CA\/ScreenersDeepLinking?dataset=StockPointer&amp;screener=share%3A%7B%22name%22%3A%22Number%20Cruncher%202023-06-05%22%2C%22sortedBy%22%3A%22fcfCAPAVG%22%2C%22sortOrder%22%3A%22desc%22%2C%22criterias%22%3A%7B%22PRCcur%22%3A%7B%7D%2C%22evamvecur%22%3A%7B%22%3E%22%3A1000%7D%2C%22fcfCAPAVG%22%3A%7B%22%3E%22%3A4%7D%2C%22fcfCAP12%22%3A%7B%22%3E%22%3A4%7D%2C%22marketidentificationcodeextended%22%3A%7B%22in%22%3A%5B%22CND%22%5D%7D%2C%22pitmvcur%22%3A%7B%22%3E%22%3A0.8%7D%2C%22nopAT12CHQ%22%3A%7B%22%3E%22%3A0%7D%2C%22PrcCH12M%22%3A%7B%7D%2C%22divTAUX%22%3A%7B%7D%7D%7D\" target=\"_blank\">here<\/a><b>)<br><\/b>We screened Canadian stocks focusing on the following criteria:<\/p>\n<ul>\n<li>One-year and five-year average ratio of free cash flow to capital greater than 4 per cent. We look for companies with solid current and historical free cash flow metrics;<\/li>\n<li>Relative economic performance index (relative EPI) greater than 0.8. Relative EPI is a multistep calculation that compares the profitability of a company with its valuation and cost of capital. Higher profitability, a lower valuation and a lower cost of capital each increase the ratio;<\/li>\n<li>Positive three-month net operating profit after taxes (NOPAT) growth. We want to avoid companies that experienced a decline in their operations in the most recent quarter;<\/li>\n<\/ul>\n<p><span style=\"background-color: transparent; color: var( --e-global-color-d24d808 );\"><\/span><\/p>\n<p><span style=\"background-color: transparent; color: var( --e-global-color-d24d808 );\"><br><\/span><\/p>\n<p>Due to the unique nature of the free cash flow metric of financial companies, we decided to exclude them from our screen.<br><\/p>\n<p>For informational purposes, we have also included three-month sales growth, one-year share price performance and dividend yield. Please note that some ratios may be shown as of the end of the previous quarter.<\/p>\n<p><b>More about Inovestor: <\/b><br>Inovestor, a prominent Canadian fintech company with more than 20 years of experience, has partnered with Morningstar in an alliance, solidifying Inovestor\u2019s unrivalled position as the industry\u2019s sole leading alternative valuation tool. To learn more visit our website.<\/p>\n<p><b>What we found<\/b><\/p>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" width=\"690\" style=\"width: 520pt;\">\n<colgroup>\n<col width=\"49\" style=\"mso-width-source:userset;mso-width-alt:1792;width:37pt\">\n<col width=\"52\" style=\"mso-width-source:userset;mso-width-alt:1901;width:39pt\">\n<col width=\"42\" style=\"mso-width-source:userset;mso-width-alt:1536;width:32pt\">\n<col width=\"69\" style=\"mso-width-source:userset;mso-width-alt:2523;width:52pt\">\n<col width=\"73\" style=\"mso-width-source:userset;mso-width-alt:2669;width:55pt\">\n<col width=\"65\" style=\"mso-width-source:userset;mso-width-alt:2377;width:49pt\">\n<col width=\"54\" span=\"2\" style=\"mso-width-source:userset;mso-width-alt:1974; width:41pt\">\n<col width=\"92\" style=\"mso-width-source:userset;mso-width-alt:3364;width:69pt\">\n<col width=\"84\" style=\"mso-width-source:userset;mso-width-alt:3072;width:63pt\">\n<col width=\"56\" style=\"mso-width-source:userset;mso-width-alt:2048;width:42pt\">\n <\/colgroup>\n<tbody>\n<tr height=\"20\" style=\"height:15.0pt\">\n<td height=\"20\" width=\"49\" style=\"height:15.0pt;width:37pt\">TICKER<\/td>\n<td width=\"52\" style=\"width:39pt\">NAME<\/td>\n<td width=\"42\" style=\"width:32pt\">PRICE<\/td>\n<td width=\"69\" style=\"width:52pt\">MKT VALUE ($ MIL.)<\/td>\n<td width=\"73\" style=\"width:55pt\">5Y FCF \/ CAP (%)<\/td>\n<td width=\"65\" style=\"width:49pt\">1Y FCF \/ CAP (%)<\/td>\n<td width=\"54\" style=\"width:41pt\">REL. EPI<\/td>\n<td width=\"54\" style=\"width:41pt\">3M NOPAT GRTH. (%)<\/td>\n<td width=\"92\" style=\"width:69pt\">3M SALES GRTH. (%)<\/td>\n<td width=\"84\" style=\"width:63pt\">1Y PRICE RTN. (%)<\/td>\n<td width=\"56\" style=\"width:42pt\">DIV. YLD. (%)<\/td>\n<\/tr>\n<tr height=\"20\" style=\"height:15.0pt\">\n<td height=\"20\" style=\"height:15.0pt\">NWC-T<\/td>\n<td>NORTH WEST COMPANY INC.<\/td>\n<td>38.57<\/td>\n<td>1839<\/td>\n<td>10.3<\/td>\n<td>6.4<\/td>\n<td>1.0<\/td>\n<td>7.1<\/td>\n<td>2.4<\/td>\n<td>8.1<\/td>\n<td>4.0<\/td>\n<\/tr>\n<tr height=\"20\" style=\"height:15.0pt\">\n<td height=\"20\" style=\"height:15.0pt\">TXG-T<\/td>\n<td>TOREX GOLD RESOURCES INC.<\/td>\n<td>20.88<\/td>\n<td>1793<\/td>\n<td>9.5<\/td>\n<td>5.8<\/td>\n<td>1.3<\/td>\n<td>19.9<\/td>\n<td>4.1<\/td>\n<td>57.7<\/td>\n<td>n\/a<\/td>\n<\/tr>\n<tr height=\"20\" style=\"height:15.0pt\">\n<td height=\"20\" style=\"height:15.0pt\">TIXT-T<\/td>\n<td>TELUS INTERNATIONAL INC.<\/td>\n<td>21.21<\/td>\n<td>5790<\/td>\n<td>8.0*<\/td>\n<td>7.4<\/td>\n<td>1.0<\/td>\n<td>9.4<\/td>\n<td>5.3<\/td>\n<td>-33.4<\/td>\n<td>n\/a<\/td>\n<\/tr>\n<tr height=\"20\" style=\"height:15.0pt\">\n<td height=\"20\" style=\"height:15.0pt\">IMO-T<\/td>\n<td>IMPERIAL OIL LIMITED<\/td>\n<td>64.44<\/td>\n<td>37643<\/td>\n<td>7.9<\/td>\n<td>15.9<\/td>\n<td>1.6<\/td>\n<td>0.4<\/td>\n<td>-1.1<\/td>\n<td>-6.9<\/td>\n<td>3.1<\/td>\n<\/tr>\n<tr height=\"20\" style=\"height:15.0pt\">\n<td height=\"20\" style=\"height:15.0pt\">EMP-A-T<\/td>\n<td>EMPIRE CO. LTD. CLASS A<\/td>\n<td>34.7<\/td>\n<td>8896<\/td>\n<td>6.9<\/td>\n<td>5.1<\/td>\n<td>1.6<\/td>\n<td>0.6<\/td>\n<td>0.4<\/td>\n<td>-16.3<\/td>\n<td>1.9<\/td>\n<\/tr>\n<tr height=\"20\" style=\"height:15.0pt\">\n<td height=\"20\" style=\"height:15.0pt\">MTY-T<\/td>\n<td>MTY FOOD GROUP INC.<\/td>\n<td>58.61<\/td>\n<td>1431<\/td>\n<td>6.7<\/td>\n<td>4.7<\/td>\n<td>1.1<\/td>\n<td>23.9<\/td>\n<td>20.3<\/td>\n<td>9.0<\/td>\n<td>1.7<\/td>\n<\/tr>\n<tr height=\"20\" style=\"height:15.0pt\">\n<td height=\"20\" style=\"height:15.0pt\">DOO-T<\/td>\n<td>BRP, INC.<\/td>\n<td>98.49<\/td>\n<td>7741<\/td>\n<td>5.9<\/td>\n<td>8.6<\/td>\n<td>1.2<\/td>\n<td>7.9<\/td>\n<td>6.2<\/td>\n<td>-2.1<\/td>\n<td>0.7<\/td>\n<\/tr>\n<tr height=\"20\" style=\"height:15.0pt\">\n<td height=\"20\" style=\"height:15.0pt\">OTEX-T<\/td>\n<td>OPEN TEXT CORPORATION<\/td>\n<td>56.5<\/td>\n<td>15282<\/td>\n<td>5.6<\/td>\n<td>4.2<\/td>\n<td>1.0<\/td>\n<td>10.3<\/td>\n<td>12.3<\/td>\n<td>9.0<\/td>\n<td>2.3<\/td>\n<\/tr>\n<tr height=\"20\" style=\"height:15.0pt\">\n<td height=\"20\" style=\"height:15.0pt\">CGG-T<\/td>\n<td>CHINA GOLD INTERNATIONAL RESOURCES CORP. LTD.<\/td>\n<td>5.72<\/td>\n<td>2267<\/td>\n<td>5.4<\/td>\n<td>9.0<\/td>\n<td>2.1<\/td>\n<td>47.9<\/td>\n<td>-3.2<\/td>\n<td>37.8<\/td>\n<td>n\/a<\/td>\n<\/tr>\n<tr height=\"20\" style=\"height:15.0pt\">\n<td height=\"20\" style=\"height:15.0pt\">MRU-T<\/td>\n<td>METRO INC.<\/td>\n<td>71.92<\/td>\n<td>16740<\/td>\n<td>4.9<\/td>\n<td>5.6<\/td>\n<td>1.0<\/td>\n<td>1.6<\/td>\n<td>1.5<\/td>\n<td>1.6<\/td>\n<td>1.7<\/td>\n<\/tr>\n<tr height=\"20\" style=\"height:15.0pt\">\n<td height=\"20\" style=\"height:15.0pt\">BIPC-T<\/td>\n<td>BROOKFIELD INFRASTRUCTURE CORP. (NEW YORK) CLASS A<\/td>\n<td>63.2<\/td>\n<td>7123<\/td>\n<td>4.2*<\/td>\n<td>5.0<\/td>\n<td>1.5<\/td>\n<td>5.6<\/td>\n<td>3.6<\/td>\n<td>5.1<\/td>\n<td>2.4<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div>\n<div style=\"line-height: inherit; color: rgb(51, 51, 51); font-family: Helvetica, Arial, Verdana, sans-serif;\">\n<div style=\"line-height: inherit; float: left; width: 700px; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; font-family: GMsanC-Regular, Helvetica, Arial, Verdana, sans-serif; margin-bottom: 20px !important;\">\n<p style=\"line-height: inherit; font-size: 12px; margin-top: 5px; margin-bottom: 10px; float: left; width: 420px;\">*Due to a short history, TIXT and BIPC use 3Y FCF \/ Cap<\/p>\n<div><br><\/div>\n<div><br><\/div>\n<div>\n<p style=\"line-height: 1.5; font-family: Pratt, Georgia, Palatino, &quot;Book Antiqua&quot;, &quot;Times New Roman&quot;, serif; font-size: 1.25rem;\"><span style=\"line-height: inherit; font-weight: bolder;\">North West Company Inc.<\/span>&nbsp;<span style=\"font-family: GMsanC-Regular, Helvetica, Arial, Verdana, sans-serif; font-size: 16px;\">holds a prominent position as a retail provider in underserved markets in rural and urban areas. The company exhibits a remarkable five-year ratio of average free cash flow to capital of 10.3 per cent, which stands as the highest among our list, indicating efficient capital allocation and robust operating flexibility. Furthermore, NWC has demonstrated positive growth momentum, evident from its respectable three-month NOPAT growth of 7.1 per cent.<\/span><\/p>\n<p><\/p>\n<p style=\"line-height: 1.5; font-family: Pratt, Georgia, Palatino, &quot;Book Antiqua&quot;, &quot;Times New Roman&quot;, serif; font-size: 1.25rem;\"><span style=\"line-height: inherit; font-weight: bolder;\">Torex Gold Resources Inc.<\/span>,&nbsp;<span style=\"font-family: GMsanC-Regular, Helvetica, Arial, Verdana, sans-serif; font-size: 16px;\">the second-largest gold producer in Mexico, has undergone remarkable expansion with a substantial three-month NOPAT growth of 19.9 per cent. Moreover, its relative EPI of 1.3 indicates solid profitability when adjusted for valuation and risks. These solid metrics are further reinforced by the impressive 57.7 per cent increase in share price over the past year, reflecting favourable market sentiment toward the company.<\/span><\/p>\n<p><\/p>\n<p style=\"line-height: 1.5; font-family: Pratt, Georgia, Palatino, &quot;Book Antiqua&quot;, &quot;Times New Roman&quot;, serif; font-size: 1.25rem;\"><span style=\"line-height: inherit; font-weight: bolder;\">Telus International Inc<\/span>.,<span style=\"font-family: GMsanC-Regular, Helvetica, Arial, Verdana, sans-serif; font-size: 16px;\">&nbsp;<\/span><span style=\"font-family: GMsanC-Regular, Helvetica, Arial, Verdana, sans-serif; font-size: 16px;\">a subsidiary of Telus Corp., has established itself as a prominent global provider of customer experience and digital solutions. Recently, the company made significant strides in expanding its operations through the acquisition of WillowTree. This strategic move not only broadens Telus International\u2019s client base, but also bolsters its continuing digital transformation initiatives. Surprisingly, despite the rebound of the information technology sector over the past year, Telus International has been somewhat overlooked by investors, experiencing a notable share price decline of 33.4 per cent.<\/span><\/p>\n<p><\/p>\n<p style=\"line-height: 1.5; font-family: Pratt, Georgia, Palatino, &quot;Book Antiqua&quot;, &quot;Times New Roman&quot;, serif; font-size: 1.25rem;\">Investors are advised to do further research before investing in any of the companies listed in the accompanying table.<\/p>\n<div style=\"line-height: inherit; font-family: Helvetica, Arial, Verdana, sans-serif;\">\n<div style=\"line-height: inherit;\"><\/div>\n<\/div>\n<p style=\"line-height: 1.5; font-family: Pratt, Georgia, Palatino, &quot;Book Antiqua&quot;, &quot;Times New Roman&quot;, serif; font-size: 1.25rem;\"><i style=\"line-height: inherit;\">Anthony M\u00e9nard, CFA, is vice-president of data management at Inovestor.<\/i><\/p>\n<p style=\"line-height: 1.5; font-family: Pratt, Georgia, Palatino, &quot;Book Antiqua&quot;, &quot;Times New Roman&quot;, serif; font-size: 1.25rem;\"><i style=\"line-height: inherit;\">For more details about these stocks, subscribe to the Inovestor for Advisors platform for free.<\/i><\/p>\n<p style=\"line-height: 1.5; font-family: Pratt, Georgia, Palatino, &quot;Book Antiqua&quot;, &quot;Times New Roman&quot;, serif; font-size: 1.25rem; margin-bottom: 0px;\"><i style=\"line-height: inherit;\">Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.<\/i><\/p>\n<\/div>\n<p style=\"line-height: inherit; font-size: 12px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; clear: both; width: 210px; text-align: right; float: right;\">\n<\/p><\/div>\n<\/div>\n<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1d6e5c1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1d6e5c1\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-feedc7b\" data-id=\"feedc7b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>What are we looking for? Free cash flow serves as a key indicator of long-term sustainability by providing insight into a company\u2019s ability to acquire other companies, repay debts and distribute dividends. Today, our focus will be on identifying companies that generate significant free cash flow while they effectively manage value creation and growth. The [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16],"tags":[],"class_list":["post-49622","post","type-post","status-publish","format-standard","hentry","category-number-cruncher"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Eleven TSX companies that leverage free cash flow for value creation and growth - Inovestor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.inovestor.com\/en-ca\/2023\/06\/eleven-tsx-companies-that-leverage-free-cash-flow-for-value-creation-and-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eleven TSX companies that leverage free cash flow for value creation and growth\" \/>\n<meta property=\"og:description\" content=\"What are we looking for? Free cash flow serves as a key indicator of long-term sustainability by providing insight into a company\u2019s ability to acquire other companies, repay debts and distribute dividends. Today, our focus will be on identifying companies that generate significant free cash flow while they effectively manage value creation and growth. 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