Loblaw Companies Ltd LOBLY

Consumer StaplesFood & Drug RetailingCanada

Last close 12.62 USD on Nov 2, 2026, +13.0% year to date

Quant rating

Quant rating A Rank 9 of 174 in Consumer Staples

Growth B 37 of 174
Valuation C 83 of 174
Quality A 10 of 174
Revisions B 68 of 174
Momentum B 47 of 174

Wall Street consensus Buy (2.09)Average target 52.18 USD +313.3%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 57.3B
Enterprise value: 68.6B
52-week range: 10.00 – 17.40
3-year range: 9.58 – 20.00
Dividend yield: 0.85%
Beta (5 years): –
Shares outstanding: 1,151M
Next earnings: Nov 19, 2026

About the company

Loblaw Companies Limited is a Canada-based food and pharmacy retailer. The Company provides grocery, pharmacy and healthcare services, health and beauty products, apparel, general merchandise, financial services, and wireless mobile products and services. The Company’s segments include Retail and Financial Services. The Retail segment consists primarily of corporates and franchise-owned retail food and Associate-owned drug stores, which includes in-store pharmacies, health care services and other health and beauty products, apparel and other general merchandise. The Financial Services segment provides credit card and everyday banking services, the PC Optimum Program, insurance brokerage services, and telecommunication services. Its brands include Joe Fresh, no name, President's Choice and others.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	46,556	42,350	44,945	41,703	42,085	–
Revenue growth	9.9%	−5.8%	7.8%	−0.9%	1.6%	2.4%
EPS (basic, normalized)	1.78	1.51	1.44	1.26	1.09	–
EPS growth	17.8%	4.9%	14.2%	15.4%	–	–
Gross margin	31.3%	32.3%	32.0%	31.8%	31.5%	31.8%
Net margin	4.0%	3.5%	3.5%	3.4%	3.5%	3.6%
ROE	22.9%	19.3%	18.5%	16.8%	16.6%	18.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	715
Current ratio	1.06x
Long-term debt (mil)	10,566
Net debt (mil)	11,115
Total equity (mil)	7,750
Net debt / equity	1.43x
Net debt / EBITDA	2.02x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	46,556	+9.9%	1.5x	5,509	+12.0%	12.4x	1.78	+17.8%	7.1x
2026	46,618	+0.1%	1.5x	5,362	−2.7%	12.8x	1.83	+2.9%	6.9x
2027	48,427	+3.9%	1.4x	5,738	+7.0%	12.0x	2.05	+11.9%	6.2x
2028	50,230	+3.7%	1.4x	5,964	+3.9%	11.5x	2.20	+7.4%	5.7x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	46,618	0.0%	0.0%	−0.3%	1.83	0.0%	+0.1%	−0.6%
2027	48,427	0.0%	+0.1%	−0.2%	2.05	−0.5%	−0.5%	−0.1%
2028	50,230	0.0%	+0.2%	+0.4%	2.20	+0.2%	−0.3%	+3.6%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	13,581	13,947	18,538	14,948	14,135	14,672	19,395	16,382	14,484	15,046
Sales mean (mil)	13,457	14,166	18,654	14,954	14,069	14,638	19,404	16,772	14,474	15,069
Surprise	+0.9%	−1.5%	−0.6%	0.0%	+0.5%	+0.2%	0.0%	−2.3%	+0.1%	−0.2%
EPS reported	0.43	0.54	0.62	0.55	0.47	0.60	0.69	0.67	0.52	0.66
EPS mean	0.42	0.54	0.61	0.55	0.47	0.58	0.68	0.66	0.52	0.65
Surprise	+1.2%	+0.4%	+2.2%	−0.6%	+0.8%	+3.2%	+1.5%	+1.5%	+0.7%	+1.8%

Peer comparison Food & Drug Retailing

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
LOBLY Loblaw Companies Ltd	57.3B	2.02x	4.0%	7.34x	6.9x	6.2x	12.8x	12.0x
L Loblaw Companies Ltd	57.3B	2.09x	4.0%	7.34x	27.1x	24.2x	12.7x	11.9x
TSCDY Tesco PLC	45.5B	–	2.4%	2.96x	17.6x	16.1x	8.6x	8.3x
KR Kroger Co	40.4B	1.86x	0.7%	6.98x	13.2x	12.5x	6.9x	6.8x
SYY Sysco Corporation	40.2B	2.67x	2.1%	14.67x	16.2x	15.1x	10.8x	10.3x
FMX Fomento Economico Mexicano SAB de CV	38.4B	1.90x	2.1%	3.64x	22.5x	24.1x	6.7x	6.2x
Mean		2.11x	2.5%	7.15x	17.2x	16.4x	9.7x	9.2x
Median		2.02x	2.3%	7.16x	16.9x	15.6x	9.7x	9.3x

Technical analysis

1M+18.0%
3M−26.3%
1Y+12.1%
3Y+23.7%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Loblaw Companies Ltd, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	46,556	42,350	44,945	41,703	42,085	41,419
Cost of revenue	31,962	28,658	30,572	28,436	28,840	28,856
Gross profit	14,594	13,692	14,373	13,267	13,245	12,563
Selling, general & administrative expenses	11,338	10,961	11,552	10,762	10,921	10,705
Research & development	–	–	–	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	33.5	22.2	24.9	38.4	–	–
Other operating expenses	0	0	0	0	0	0
Operating income	3,223	2,708	2,797	2,467	2,325	1,858
Net interest income (expense)	−530	−564	−587	−511	−533	−577
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−10.9	−6.2	−19.6	7.4	141	−6.3
Net income before taxes	2,683	2,139	2,190	1,963	1,933	1,275
Provision for taxes	787	559	539	491	369	339
Minority interest	−51.7	−72.2	−65.7	−53.9	−79.9	−66.0
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	1,844	1,507	1,586	1,418	1,484	871
Extraordinary items	99.1	–	–	–	–	–
Net income	1,943	1,507	1,586	1,418	1,484	871
EBIT, normalized	3,254	2,842	2,812	2,452	2,400	1,918
EBITDA, normalized	5,247	4,901	5,002	4,515	4,508	3,958
Basic EPS, normalized	1.78	1.51	1.44	1.26	1.09	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Loblaw Companies Ltd, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	758	1,465	1,474	1,427	1,931	1,522
Receivables	940	3,946	4,100	3,803	3,713	3,218
Total inventory	4,729	4,394	4,394	4,321	4,089	4,082
Prepaid expenses	324	258	243	250	193	167
Other current assets	4,124	36.1	40.8	70.1	76.0	87.2
Total current assets	10,876	10,098	10,251	9,872	10,002	9,076
Property, plant & equipment	11,823	10,646	10,576	9,672	9,991	10,016
Goodwill	3,230	3,035	3,284	3,191	3,126	3,102
Intangibles	3,759	3,780	4,525	4,801	5,067	5,398
Long-term investments	189	199	339	339	188	193
Note receivable	43.0	135	51.3	56.8	61.7	73.1
Other long-term assets	372	483	402	223	545	326
Total assets	30,291	28,375	29,429	28,155	28,981	28,184
Liabilities
Accounts payable	5,190	5,223	4,769	4,587	4,300	4,219
Payable/accrued	–	–	–	–	–	–
Accrued expenses	289	177	279	320	343	274
Short-term debt	0	555	652	523	397	519
Current portion of long-term debt	1,154	1,582	1,998	1,571	1,820	1,553
Other current liabilities	3,472	631	492	452	420	317
Total current liabilities	10,105	8,168	8,190	7,453	7,279	6,882
Long-term debt	10,725	11,179	11,071	10,901	10,886	10,977
Minority interest	119	121	117	116	130	103
Other liabilities	1,307	1,208	1,396	1,345	1,526	1,588
Total liabilities	22,256	20,677	20,774	19,815	19,820	19,551
Shareholders' equity
Preferred stock	–	0	167	166	175	174
Common stock	4,426	4,301	4,723	4,769	5,249	5,362
Additional paid-in capital	91.8	79.8	103	90.0	91.8	85.6
Retained earnings (accumulated deficit)	3,500	3,296	3,636	3,292	3,634	2,996
Treasury stock	–	–	–	–	–	–
Other equity	16.8	22.2	26.4	22.1	11.1	16.5
Total equity	8,034	7,698	8,655	8,339	9,160	8,634
Total liabilities & shareholders' equity	30,291	28,375	29,429	28,155	28,981	28,184

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Loblaw Companies Ltd, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	1,995	1,579	1,651	1,472	1,564	937
Depreciation, depletion & amortization	1,992	2,059	2,194	2,063	2,109	2,040
Deferred taxes	–	–	–	–	–	–
Non-cash items	1,394	1,206	1,045	634	547	1,362
Changes in working capital	−817	−816	−621	−659	−399	−260
Cash from operations	4,564	4,027	4,269	3,509	3,821	4,079
Investing activities
Capital expenditures	−1,502	−1,527	−1,564	−1,159	−936	−910
Other investing cash flows	127	124	171	−588	−70.4	−171
Cash from investing	−1,375	−1,403	−1,393	−1,748	−1,006	−1,081
Financing activities
Financing cash flow items	−388	−614	−593	−517	−480	−518
Cash dividends paid	−592	−319	−424	−390	−383	−456
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−2,256	−1,717	−1,952	−1,123	−1,708	−1,605
Cash from financing	−3,235	−2,649	−2,969	−2,030	−2,572	−2,579
Foreign exchange effects	−3.6	6.2	2.3	−3.0	0.8	1.6
Net change in cash	−51.0	−18.0	−90.6	−272	244	420
Free cash flow	3,061	2,500	2,704	2,350	2,885	3,169

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.