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Alimentation Couche-Tard

ANCTF
57
Specialty Retail · Consumer Cyclical
Price
$59.26
-0.20 (-0.34%)
Market Cap
$54.41B
Exchange
Other OTC
Winston Score
57
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Sep 7, 2026 · filings through Jul 31, 2026

§How the score breaks down

Quality
Mixed
Growth
Strong
Cash Flow
Strong
Stability
Good
Valuation
Good
Dividends
Good
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Share count falling — buybacks

−12.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 1.06B (2022) → 932.6M (2026)

§Winston Score History

The full picture

Alimentation Couche-Tard is one of the world's largest convenience store and fuel station operators. It runs well-known brands like Circle K, Couche-Tard, and Ingo across roughly 17,000 locations. Its customers are everyday people stopping in for gas, snacks, drinks, and other quick purchases.

The company earns revenue from fuel sales and in-store merchandise, with merchandise carrying much higher profit margins than fuel. It operates across North America, Europe, and parts of Asia, headquartered in Laval, Quebec, Canada. Its massive scale gives it strong purchasing power and operational efficiency compared to smaller competitors. Growth has historically come through acquisitions of other convenience store chains, and future expansion — including its pursuit of larger deals — remains the key driver, though fuel volume declines from electric vehicle adoption represent a longer-term risk.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+24.6% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+8.4% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

19.2%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$3.5B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Alimentation Couche-Tard is a rare growth stock that's already generating positive cash flow while growing at 25%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
14.1%
Thin — 14.1% gross margin
Profit after running costs
Operating Margin
5.6%
Thin — 5.6% operating margin
Return on the money invested
ROCE
17.1%
Strong — 17.1% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+12.0%
Fast-growing sales (+12.0% YoY)
Profit growth
EPS YoY
+25.5%
Earnings growing fast (+25.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
176%
Turns 176% of profit into real cash
Spare cash per sale
FCF Margin
4.6%
Thin free cash flow (4.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.65
Moderate — manageable debt (0.65)
Covers its interest
Interest Cover
6.45x
Adequate interest coverage (6.5x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
17.2x
Fair value — P/E 17.2

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+0.7
GROWING
Earnings roughly flat

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Dividends

Dividend
Dividend Yield
1.05%
Small dividend — 1.05% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
+10.3%
Dividend growing fast (10.3% YoY)

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