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Alimentation Couche-Tard Inc (TSE:ATD)
TSX:ATD
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Alimentation Couche-Tard Inc (ATD) AI Stock Analysis

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TSE:ATD

Alimentation Couche-Tard Inc

(TSX:ATD)

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Outperform 73 (OpenAI - Gpt-5.6Sol)
Rating:73Outperform
Price Target:
C$91.00
▲(6.82% Upside)
Action:Reiterated
Date:09/15/26
The score is driven primarily by strong financial performance (steady growth and solid free cash flow) and a constructive earnings outlook (robust EBITDA/EPS growth and disciplined costs, with strategic expansion via Zabka). These positives are tempered by weak current technical momentum (price below key moving averages and negative MACD) and moderate balance-sheet sensitivity around leverage, while valuation is reasonable but not deeply discounted and the dividend yield is modest.
Positive Factors
Earnings Growth
Double-digit EBITDA and EPS growth demonstrates strong operating execution and earnings momentum across the network. If sustained, this growth can support reinvestment, strengthen competitive positioning, and provide internal funding for store expansion and strategic initiatives over the coming quarters.
Negative Factors
Fuel Volume Declines
Fuel remains a major traffic generator and revenue stream for the business, so sustained volume declines in two important regions could reduce forecourt profitability and visits to inside stores. Lower gallons also make it harder to leverage the network's fixed operating infrastructure.
Read all positive and negative factors
Positive Factors
Negative Factors
Earnings Growth
Double-digit EBITDA and EPS growth demonstrates strong operating execution and earnings momentum across the network. If sustained, this growth can support reinvestment, strengthen competitive positioning, and provide internal funding for store expansion and strategic initiatives over the coming quarters.
Read all positive factors

Alimentation Couche-Tard Inc (ATD) vs. iShares MSCI Canada ETF (EWC)

Alimentation Couche-Tard Inc Business Overview & Revenue Model

Company Description
Alimentation Couche-Tard Inc. oversees and authorizes the operation of convenience stores across multiple regions. These retail outlets provide customers with a broad range of goods, including tobacco products, groceries, candies, snacks, beer, wi...
How the Company Makes Money
Couche-Tard primarily makes money through two main revenue streams: (1) convenience retail merchandise and foodservice sales, and (2) fuel sales (often described as “road transportation fuel” or “motor fuel”) at its forecourt sites. 1) Convenien...

Alimentation Couche-Tard Inc Earnings Call Summary

Earnings Call Date:Sep 01, 2026
(Q1-2027)
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% Change Since: |
Next Earnings Date:Dec 01, 2026
Earnings Call Sentiment Positive
The call was strongly constructive, with 10.5% adjusted EBITDA growth, 15.4% adjusted EPS growth, positive merchandise same-store sales for the fifth consecutive quarter, strong performance in energy, nicotine, food, loyalty and e-mobility, disciplined expense growth and a significant strategic acquisition. These strengths were partly offset by more deliberate consumer spending, softness in traditional center-store categories, declining fuel volumes in the U.S. and Europe, North American merchandise margin erosion, regulatory pressure in Canadian nicotine and expected leverage above the company's comfort range at the Zabka closing. Overall, highlights significantly outweighed the lowlights.
Positive Updates
Adjusted EBITDA and EPS Growth
Adjusted EBITDA increased 10.5%, while adjusted diluted earnings per share increased 15.4% year-over-year. Adjusted net earnings were approximately $827 million, or $0.90 per adjusted diluted share, and net earnings attributable to shareholders were $829 million, or $0.90 per diluted share.
Negative Updates
Discretionary Consumer Spending Pressure
Elevated living costs and fuel prices continued to weigh on discretionary spending in certain markets. Consumers were described as more intentional, targeted and thoughtful in their purchases, with spending shifting toward promotional and lower-ticket items.
Read all updates
Q1-2027 Updates
Negative
Adjusted EBITDA and EPS Growth
Adjusted EBITDA increased 10.5%, while adjusted diluted earnings per share increased 15.4% year-over-year. Adjusted net earnings were approximately $827 million, or $0.90 per adjusted diluted share, and net earnings attributable to shareholders were $829 million, or $0.90 per diluted share.
Read all positive updates
Company Guidance
Management expects the Zabka acquisition to close “by the end of this calendar year,” to open “more than 100 stores in fiscal 2027,” and remains on track toward a long-term target of “750 new stores by 2030”; Zabka plans to build “1,300 sites” this year, followed by “another 6,000 to 7,000 sites in Poland and another 7,000 to 8,000 sites in Romania over the coming 5 years.” Leverage is expected to move “modestly above” the stated comfort range of “2 to 2.5x at closing,” supply-chain margin benefits are expected “at the end of this fiscal year” and to “definitely continue to accelerate over the next coming years,” most U.S. business units are expected to be live on RELEX during fiscal 2027 with Canada following in fiscal 2028, and normalized expense growth is expected to remain “below inflation” on “a sustainable way” through the fiscal year and the “Core + More strategy 4 years plan.”

Alimentation Couche-Tard Inc Financial Statement Overview

Summary
Financial statements indicate steady operating strength: revenue is up ~5.3% TTM with improved profitability, and free cash flow is solid (~$3.7B) with growth of ~8.8%. Offsetting this, net margin remains structurally thin (~3.9%) and leverage is still meaningful (~0.92x debt/equity), which can reduce flexibility if conditions soften.
Income Statement
82
Very Positive
Balance Sheet
74
Positive
Cash Flow
77
Positive
BreakdownTTMApr 2026Apr 2025Apr 2024Apr 2023Apr 2022
Income Statement
Total Revenue80.53B76.51B72.86B69.26B71.86B62.81B
Gross Profit14.15B14.46B13.02B12.10B12.05B11.00B
EBITDA7.19B7.16B5.90B5.59B5.71B5.13B
Net Income3.18B3.14B2.58B2.73B3.09B2.68B
Balance Sheet
Total Assets42.71B43.52B38.32B37.40B28.99B29.47B
Cash, Cash Equivalents and Short-Term Investments3.25B3.14B2.32B1.89B940.68M2.18B
Total Debt15.37B16.45B13.96B14.69B9.47B9.40B
Total Liabilities25.91B27.21B23.22B24.02B16.45B17.08B
Stockholders Equity16.67B16.18B14.95B13.25B12.53B12.39B
Cash Flow
Free Cash Flow3.67B3.37B2.74B2.84B2.48B2.23B
Operating Cash Flow5.57B5.36B5.08B4.76B4.25B3.86B
Investing Cash Flow-1.93B-3.48B-1.60B-6.53B-2.23B-1.74B
Financing Cash Flow-2.63B-1.07B-2.56B2.18B-3.28B-2.89B

Alimentation Couche-Tard Inc Technical Analysis

Technical Analysis Sentiment
Negative
Last Price85.19
Price Trends
50DMA
81.45
Negative
100DMA
85.14
Negative
200DMA
81.70
Negative
Market Momentum
MACD
0.71
Negative
RSI
50.05
Neutral
STOCH
43.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ATD, the sentiment is Negative. The current price of 85.19 is above the 20-day moving average (MA) of 80.28, above the 50-day MA of 81.45, and above the 200-day MA of 81.70, indicating a neutral trend. The MACD of 0.71 indicates Negative momentum. The RSI at 50.05 is Neutral, neither overbought nor oversold. The STOCH value of 43.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:ATD.

Alimentation Couche-Tard Inc Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
C$73.66B16.7119.91%1.07%11.59%26.58%
67
Neutral
C$10.57B15.8111.53%3.54%1.05%-6.66%
63
Neutral
C$10.57B15.8111.53%3.31%1.05%-6.66%
61
Neutral
$18.38B12.79-2.54%3.03%1.52%-15.83%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:ATD
Alimentation Couche-Tard Inc
80.24
11.04
15.95%
TSE:CTC
Canadian Tire
217.00
-28.36
-11.56%
TSE:CTC.A
Canadian Tire
202.43
42.79
26.80%

Alimentation Couche-Tard Inc Corporate Events

Business Operations and StrategyFinancial DisclosuresM&A Transactions
Couche-Tard Delivers Earnings Growth and Moves to Acquire Poland’s Żabka Group
Positive
Sep 1, 2026
Couche-Tard reported a solid start to fiscal 2027, posting net earnings attributable to shareholders of $828.5 million, or $0.90 per diluted share, up from $782.5 million, or $0.82 per diluted share, a year earlier. Adjusted net earnings rose 12.2...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Sep 15, 2026