CJT Stock Analysis: Cargojet | TO

Overnight Freight, ACMI Operations, Charter Flights, Cargo Handling

Total Rating 31

Safety 65

Buy Signal 0.18

Airlines
Industry Rotation: -1.2

Market Cap: 896M
Avg Turnover: 5.88M

Risk 3d forecast

Volatility31.3%

VaR 5^th Pctl5.19%

VaR vs Median0.51%

Reward TTM

Sharpe Ratio0.23

Rel. Str. IBD45.3

Rel. Str. Peer Group53.6 pctl

Character TTM

Beta1.149

Beta Downside1.122

Hurst Exponent0.494

Choppyness71.9%

Drawdowns 3y

Max DD50.87%

CAGR/Max DD0.04

CAGR/Mean DD0.09

EPS (Earnings per Share)

EPS CAGR: 20.88%
EPS Trend: 49.3%

Last SUE: -0.21
Qual. Beats: 0

Revenue

Rev. CAGR: 5.98%
Rev. Trend: 83.5%

Last SUE: 0.84
Qual. Beats: 0

Warnings

Below Avwap Earnings

Tailwinds

Confidence

Seasonality

Not enough history

Description: CJT Cargojet

Cargojet Inc. is a Canadian air-freight and logistics company providing time-sensitive overnight cargo services, including a domestic network linking cities across Canada. It also operates scheduled and charter flights in Canada and internationally, and leases aircraft with crew, maintenance, and insurance.

Its services include aircraft operations, maintenance, flight planning, ground handling, and cargo management. Cargojet operates a fleet of 41 aircraft and is headquartered in Mississauga, Ontario.

Headlines to Watch Out For

Domestic network volumes and pricing drive core revenue growth
ACMI and international charter demand lift aircraft utilization
Fuel, labor and fleet investment pressure operating margins

Piotroski VR-10 (Strict) 4.0

Net Income: 46.5m TTM > 0 and > 6% of Revenue
FCF/TA: 0.04 > 0.02 and ΔFCF/TA 10.57 > 1.0
NWC/Revenue: -3.25% < 20% (prev -6.13%; Δ 2.89% < -1%)
CFO/TA 0.15 > 3% & CFO 307.9m > Net Income 46.5m
Net Debt (1.04b) to EBITDA (323.5m): 3.23 < 3
Current Ratio: 0.83 > 1.5 & < 3
Outstanding Shares: last quarter (14.9m) vs 12m ago -3.25% < -2%
Gross Margin: 18.79% > 18% (prev 23.21%; Δ -4.42% > 0.5%)
Asset Turnover: 50.56% > 50% (prev 49.63%; Δ 0.93% > 0%)
Interest Coverage Ratio: 2.43 > 6 (EBIT TTM 119.4m / Interest Expense TTM 49.2m)

Altman Z'' 1.13

A: -0.02 (Total Current Assets 168.8m - Total Current Liabilities 202.4m) / Total Assets 2.03b
B: 0.08 (Retained Earnings 155.1m / Total Assets 2.03b)
C: 0.06 (EBIT TTM 119.4m / Avg Total Assets 2.05b)
D: 0.57 (Book Value of Equity 734.3m / Total Liabilities 1.29b)
Altman-Z'' = 1.13 = BB

Beneish M -2.66

DSRI: 1.16 (Receivables 120.7m/102.9m, Revenue 1.04b/1.03b)
GMI: 1.23 (GM 23.21% / 18.79%)
AQI: 1.04 (AQ_t 0.08 / AQ_t-1 0.07)
SGI: 1.01 (Revenue 1.04b / 1.03b)
TATA: -0.13 (NI 46.5m - CFO 307.9m) / TA 2.03b)
Beneish M = -2.66 (Cap -4..+1) = A

What is the price of CJT shares?

As of October 19, 2026, the stock is trading at CAD 85.62 with a total of 36,731 shares traded. Over the past week, the price has changed by -2.27%, over one month by +6.66%, over three months by +0.01% and over the past year by +6.99%.

Current recommended Stop Loss: 82.30 (which is 3.9% or 1.4 ATR below the current price).

Is CJT a buy, sell or hold?

Cargojet has no consensus analysts rating.

Cargojet (CJT) - Fundamental Data Overview as of 18 October 2026

Market Cap USD = 896.0m (1.27b CAD * 0.7071 CAD.USD)
P/E Trailing = 27.9804
P/E Forward = 19.9601
P/S = 1.2242
P/B = 1.742
Revenue TTM = 1.04b CAD
EBIT TTM = 119.4m CAD
EBITDA TTM = 323.5m CAD
Long Term Debt = 703.5m CAD (from longTermDebt, last quarter)
Short Term Debt = 24.9m CAD (from shortTermDebt, last quarter)
Debt = 1.05b CAD (from shortLongTermDebtTotal, last quarter) + Leases 172.3m
Net Debt = 1.04b CAD (calculated: Debt 1.05b - CCE 4.00m)
Enterprise Value = 2.31b CAD (1.27b + Debt 1.05b - CCE 4.00m)
Interest Coverage Ratio = 2.43 (Ebit TTM 119.4m / Interest Expense TTM 49.2m)
EV/FCF = 27.10x (Enterprise Value 2.31b / FCF TTM 85.3m)
FCF Yield = 3.69% (FCF TTM 85.3m / Enterprise Value 2.31b)
FCF Margin = 8.24% (FCF TTM 85.3m / Revenue TTM 1.04b)
Net Margin = 4.49% (Net Income TTM 46.5m / Revenue TTM 1.04b)
Gross Margin = 18.79% ((Revenue TTM 1.04b - Cost of Revenue TTM 840.6m) / Revenue TTM)
Gross Margin QoQ = 21.32% (prev 15.70%)
Tobins Q-Ratio = 1.14 (Enterprise Value 2.31b / Total Assets 2.03b)
Interest Expense / Debt = 4.69% (Interest Expense 49.2m / Debt 1.05b)
Taxrate = 25.12% (15.6m / 62.1m)
NOPAT = 89.4m (EBIT 119.4m * (1 - 25.12%))
Current Ratio = 0.83 (Total Current Assets 168.8m / Total Current Liabilities 202.4m)
Debt / Equity = 1.43 (Debt 1.05b / totalStockholderEquity, last quarter 734.3m)
Debt / EBITDA = 3.23 (Net Debt 1.04b / EBITDA 323.5m)
Debt / FCF = 12.24 (Net Debt 1.04b / FCF TTM 85.3m)
Total Stockholder Equity = 738.5m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.27% (Net Income 46.5m / Total Assets 2.03b)
RoE = 6.30% (Net Income TTM 46.5m / Total Stockholder Equity 738.5m)
RoCE = 8.28% (EBIT 119.4m / Capital Employed (Equity 738.5m + L.T.Debt 703.5m))
RoIC = 4.85% (NOPAT 89.4m / Invested Capital 1.84b)
WACC = 6.79% (E(1.27b)/V(2.32b) * Re(9.50%) + D(1.05b)/V(2.32b) * Rd(4.69%) * (1-Tc(0.25)))
Discount Rate = 9.50% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -85.04 | Cagr: -10.45%
[DCF] Terminal Value 75.44% ; FCFF base≈85.3m ; Y1≈85.7m ; Y5≈90.7m
[DCF] Fair Price = 24.80 (EV 1.41b - Net Debt 1.04b = Equity 367.1m / Shares 14.8m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: 49.34 | EPS CAGR: 20.88% | SUE: -0.21 | # QB: 0
Revenue Correlation: 83.51 | Revenue CAGR: 5.98% | SUE: 0.84 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.85 | Chg30d=+5.97% | Revisions=+50% | Analysts=10
EPS current Year (2026-12-31): EPS=3.57 | Chg30d=+1.95% | Revisions=+12% | GrowthEPS=-19.7% | GrowthRev=+11.2%
EPS next Year (2027-12-31): EPS=4.52 | Chg30d=-0.60% | Revisions=-38% | GrowthEPS=+26.4% | GrowthRev=+1.9%
[Analyst] Revisions Ratio: +6% (up=7, down=6)