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Alimentation Couche-Tard (ATD) investor relations material
Alimentation Couche-Tard Investor presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Strategic vision and business model
Aspires to be the world's favorite stop for people on the go, focusing on convenience and customer experience.
Operates a decentralized, scalable model empowering local teams with global capabilities.
Core values include ownership, integrity, and a winning mindset, fostering a strong workplace culture.
Recognized for employee engagement, with industry-leading retention and multiple workplace awards.
Geographic footprint and growth history
Operates 17,220 sites across 27 countries, with a strong presence in the US, Canada, and Europe.
History of dynamic growth through strategic acquisitions in North America, Europe, and Asia.
Recent expansion includes 2,175 retail assets in Germany and Benelux and 270 food-first locations.
Financial performance and highlights
FY2026 net earnings reached $3.1B, with adjusted EBITDA of ~$6.7B and diluted EPS of $3.37.
Q1-2027 saw 5.9% net earnings growth YoY and 15.4% adjusted diluted EPS growth YoY.
Return on equity at 20.2% and leverage ratio at 1.77, with $19.6B in merchandise and service revenues.
26-year CAGR: ~21% EBITDA, ~25% EPS and net earnings.
- Strong financial results, strategic acquisitions, and all management proposals approved.ATD
AGM 2026 - Double-digit EBITDA and EPS growth, Żabka acquisition, and strong loyalty gains highlight results.ATD
Q1 2027 - Acquisition of a major European convenience retailer for $8.6B targets $250M+ synergies by year three.ATD
M&A announcement - Core + More strategy, digital innovation, and ESG focus drive strong growth and value.ATD
Investor presentation - Record earnings, margin expansion, and loyalty growth driven by disciplined execution.ATD
Q4 2026 - Q3 FY2026 delivered double-digit earnings growth, robust fuel margins, and network expansion.ATD
Q3 2026 - Targets 6–8% EBITDA and >10% EPS CAGR through FY2030, led by core and new growth platforms.ATD
Investor Day 2026 - Earnings declined on softer US fuel margins, but revenue grew 6% and dividend was increased.ATD
Q2 2025 - Board and executive changes, strong financials, and all shareholder proposals rejected.ATD
AGM 2024
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Frequently asked questions
Gas station and convenience store operators
Couche-Tard is one of the world's largest gas station and convenience store operators and the parent company behind gas station chains Circle K, Couche-Tard, and Ingo.
You have most certainly visited one of Couche-Tard’s 14,000 locations, spread over a dozen countries, and you probably agree that gas stations and convenience stores are a complete necessity. They are in transit to any destination.
A great role in the expansion of electric cars
As we are adapting to the use of electric vehicles, Couche-Tard plays a major role in making superchargers as convenient and accessible as possible. They have experience with this by already being present in Norway–the country with the highest electric vehicle penetration in the world.
Increased sales during historical recessions
Couche-Tard has also proven to be a recession-resilient business and posted sales increases of 5 percent and 8 percent, respectively, during the Dot-Com Bubble and the Great Recession.
Businesses that can earn a high return on their capital employed (ROCE) and at the same time increase the amount of capital employed are often able to multiply in value over time.
Founded by Alain Bouchard
Alain Bouchard founded Couche-Tard 42 years ago and is still active in the company as Executive Chairman. Couche-Tard grew steadily over the first two decades after its inception, organically and through acquisitions. The company has continued to grow and has incredibly enough been profitable every year since their IPO in 1986.
Couche-Tard has increased the amount of capital employed by 115 percent over the past five years and earned a return of roughly 15 percent on that capital. This steady growth is also reflected in the stock price, which is up 270 percent over the same period.
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