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Canadian (TSX) Packaging Industry Analysis

UpdatedFeb 04, 2026
DataAggregated Company Financials
Companies7
  • 7D-2.3%
  • 3M8.3%
  • 1Y15.3%
  • YTD-3.0%

Over the last 7 days, the Packaging industry has dropped 2.3%, driven by a pullback from CCL Industries of 3.5%. Meanwhile, Richards Group actually outperformed within the industry, gaining 8.4% in the last week. Over the past 12 months, the industry was up 15%. Looking forward, earnings are expected to remain mostly flat in the next few years.

Industry Valuation and Performance

Has the Canadian Packaging Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 04 Feb 2026CA$20.8bCA$17.2bCA$1.2b16.6x17.2x1.2x
Fri, 02 Jan 2026CA$21.3bCA$17.2bCA$1.2b17.1x17.7x1.2x
Sun, 30 Nov 2025CA$20.9bCA$17.3bCA$1.2b16.3x17.1x1.2x
Tue, 28 Oct 2025CA$20.0bCA$17.1bCA$1.2b14.8x17x1.2x
Thu, 25 Sep 2025CA$19.4bCA$17.1bCA$1.2b15.3x16.5x1.1x
Sat, 23 Aug 2025CA$20.1bCA$17.1bCA$1.2b13.4x16.9x1.2x
Mon, 21 Jul 2025CA$19.8bCA$17.0bCA$1.3b11.4x15.6x1.2x
Wed, 18 Jun 2025CA$19.6bCA$17.0bCA$1.3b11.7x15.4x1.2x
Fri, 16 May 2025CA$19.0bCA$17.0bCA$1.3b10.6x15.1x1.1x
Sun, 13 Apr 2025CA$17.2bCA$16.8bCA$1.2b10x14.1x1x
Tue, 11 Mar 2025CA$18.5bCA$16.9bCA$1.2b11.4x15.5x1.1x
Thu, 06 Feb 2025CA$18.5bCA$16.7bCA$1.0b12.6x18.5x1.1x
Sat, 04 Jan 2025CA$19.2bCA$16.7bCA$1.0b12.9x19.2x1.2x
Mon, 02 Dec 2024CA$20.0bCA$16.7bCA$989.9m13.2x20.2x1.2x
Wed, 30 Oct 2024CA$21.1bCA$16.5bCA$994.5m15.2x21.2x1.3x
Fri, 27 Sep 2024CA$20.4bCA$16.4bCA$981.0m15x20.8x1.2x
Sun, 25 Aug 2024CA$19.5bCA$16.4bCA$955.9m15.3x20.4x1.2x
Tue, 23 Jul 2024CA$18.6bCA$16.2bCA$857.5m14.5x21.7x1.1x
Thu, 20 Jun 2024CA$18.0bCA$16.2bCA$856.9m13.9x21x1.1x
Sat, 18 May 2024CA$18.4bCA$16.3bCA$860.8m14.8x21.3x1.1x
Mon, 15 Apr 2024CA$17.5bCA$16.3bCA$790.4m12.7x22.1x1.1x
Wed, 13 Mar 2024CA$18.4bCA$16.3bCA$773.3m14.4x23.8x1.1x
Fri, 09 Feb 2024CA$16.0bCA$16.2bCA$903.0m13.7x17.7x1x
Sun, 07 Jan 2024CA$18.3bCA$18.3bCA$892.7m13.9x20.5x1x
Tue, 05 Dec 2023CA$17.9bCA$18.3bCA$913.9m13x19.6x1x
Thu, 02 Nov 2023CA$17.0bCA$18.3bCA$884.0m11.4x19.2x0.9x
Sat, 30 Sep 2023CA$17.8bCA$18.3bCA$874.1m10.4x20.4x1x
Mon, 28 Aug 2023CA$18.4bCA$18.4bCA$890.8m9.4x20.7x1x
Wed, 26 Jul 2023CA$19.4bCA$18.3bCA$872.4m9.7x22.2x1.1x
Fri, 23 Jun 2023CA$19.0bCA$18.3bCA$872.1m10.4x21.8x1x
Sun, 21 May 2023CA$21.0bCA$18.3bCA$884.2m10.6x23.7x1.1x
Tue, 18 Apr 2023CA$19.6bCA$18.0bCA$923.0m10.1x21.3x1.1x
Thu, 16 Mar 2023CA$18.9bCA$18.1bCA$927.8m9.5x20.4x1x
Sat, 11 Feb 2023CA$19.0bCA$17.8bCA$839.6m15.7x22.6x1.1x
Price to Earnings Ratio

22.6x


Total Market Cap: CA$19.0bTotal Earnings: CA$839.6mTotal Revenue: CA$17.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Packaging Industry Price to Earnings3Y Average 19.4x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian Packaging industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 17.2x which is lower than its 3-year average PE of 19.4x.
  • The industry is trading close to its 3-year average PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Packaging industry have grown 13% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the Canadian Materials industry?

CA Market-1.91%
Materials-6.97%
Packaging-2.29%
Paper Packaging-0.45%
Metal and Glass Containers-2.42%
Industry PE
  • Investors are most optimistic about the Paper Packaging industry which is trading above its 3-year average PE ratio.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Metal and Glass Containers industry, which is trading close to its 3-year average of 17.3x.
Forecasted Growth
  • Despite it being negative, analysts are least pessimistic on the Metal and Glass Containers industry since they expect its earnings to decline by only 0.5% per year over the next 5 years, which isn't as bad as the other industries.
  • This is a reversal from its past annual earnings growth rate of 4.4% per year.
  • In contrast, the Metal and Glass Containers industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
RIC Richards GroupCA$29.798.4%
+CA$26.3m		-2.3%PE15.2x
TCL.A TranscontinentalCA$23.621.1%
+CA$21.7m		28.4%PE11.6x

Latest News

CAS
CA$13.00
Cascades
7D
-0.5%
1Y
1.2%
WPK
CA$44.33
Winpak
7D
-0.4%
1Y
5.5%

Winpak (TSE:WPK) Has More To Do To Multiply In Value Going Forward

Jan 29
Winpak (TSE:WPK) Has More To Do To Multiply In Value Going Forward
CCL.B
CA$83.84
CCL Industries
7D
-3.5%
1Y
17.5%

CCL.B: Higher Street Conviction And Buyback Activity Will Support Upside Potential

We are nudging our analyst price target for CCL Industries up from C$97.30 to C$97.80. This reflects the recent series of higher Street targets from CIBC, Stifel, RBC Capital and TD Securities, as analysts factor in updated assumptions on growth, margins and P/E multiples.
RIC
CA$29.79
Richards Group
7D
8.4%
1Y
-2.3%

Richards Group's (TSE:RIC) Dividend Will Be CA$0.11

Jan 23
Richards Group's (TSE:RIC) Dividend Will Be CA$0.11
TCL.A
CA$23.62
Transcontinental
7D
1.1%
1Y
28.4%

TCL.A: Long-Term Printing Contracts Will Support Future Acquisition Opportunities

Analysts have slightly lowered their price target on Transcontinental to account for minor revisions to the discount rate, revenue growth expectations and profit margin assumptions, while keeping fair value steady at about $27.14 and the implied future P/E close to 41x. What's in the News Transcontinental extended its agreement with METRO for three years to provide multiple marketing services, including continued participation in the raddar print and digital flyer in Quebec and other potential Canadian markets, along with printing, in store marketing and content solutions (company client announcement).
IFX
CA$2.30
Imaflex
7D
-0.4%
1Y
64.3%