Cascades Inc.

TSX:CAS Stock Report

Market Cap: CA$1.3b

Cascades Valuation

Is CAS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CAS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

CA$42.3
Fair Value
70.2% undervalued intrinsic discount
6
Number of Analysts

Below Fair Value: CAS (CA$12.6) is trading below our estimate of fair value (CA$42.3)

Significantly Below Fair Value: CAS is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CAS?

Key metric: As CAS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CAS. This is calculated by dividing CAS's market cap by their current earnings.
What is CAS's PE Ratio?
PE Ratio63.8x
EarningsCA$20.00m
Market CapCA$1.28b

Price to Earnings Ratio vs Peers

How does CAS's PE Ratio compare to its peers?

The above table shows the PE ratio for CAS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average29.4x
IFX Imaflex
40.9xn/aCA$54.7m
TCL.A Transcontinental
9.7x-2.00%CA$1.7b
WPK Winpak
13.9x6.67%CA$2.7b
MDI Major Drilling Group International
53.1x24.18%CA$1.1b
CAS Cascades
63.8x133.50%CA$1.3b

Price-To-Earnings vs Peers: CAS is expensive based on its Price-To-Earnings Ratio (63.8x) compared to the peer average (29.4x).

Price to Earnings Ratio vs Industry

How does CAS's PE Ratio compare vs other companies in the North American Packaging Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CAS 63.8xIndustry Avg. 19.3xNo. of Companies5PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CAS is expensive based on its Price-To-Earnings Ratio (63.8x) compared to the North American Packaging industry average (19.3x).

Price to Earnings Ratio vs Fair Ratio

What is CAS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CAS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio63.8x
Fair PE Ratio95.4x

Price-To-Earnings vs Fair Ratio: CAS is good value based on its Price-To-Earnings Ratio (63.8x) compared to the estimated Fair Price-To-Earnings Ratio (95.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CAS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$12.37
CA$13.33
+7.79%
5.15%CA$14.00CA$12.00n/a6
Nov ’26CA$11.11
CA$11.58
+4.26%
8.78%CA$13.00CA$10.00n/a6
Oct ’26CA$9.71
CA$10.75
+10.71%
6.44%CA$12.00CA$10.00n/a6
Sep ’26CA$9.83
CA$10.75
+9.36%
6.44%CA$12.00CA$10.00n/a6
Aug ’26CA$9.00
CA$10.08
+12.04%
4.45%CA$11.00CA$9.50n/a6
Jul ’26CA$8.91
CA$9.92
+11.30%
1.88%CA$10.00CA$9.50n/a6
Jun ’26CA$8.84
CA$9.92
+12.18%
1.88%CA$10.00CA$9.50n/a6
May ’26CA$8.95
CA$11.08
+23.84%
5.47%CA$12.00CA$10.00n/a6
Apr ’26CA$9.86
CA$14.08
+42.83%
10.13%CA$16.00CA$12.50n/a6
Mar ’26CA$11.22
CA$14.08
+25.52%
10.13%CA$16.00CA$12.50n/a6
Feb ’26CA$12.85
CA$14.08
+9.60%
9.49%CA$16.00CA$12.50n/a6
Jan ’26CA$11.91
CA$12.67
+6.35%
5.43%CA$14.00CA$12.00n/a6
Dec ’25CA$12.12
CA$12.50
+3.14%
5.66%CA$14.00CA$12.00CA$12.376
Nov ’25CA$10.73
CA$11.58
+7.95%
4.61%CA$12.50CA$11.00CA$11.116
Oct ’25CA$10.55
CA$11.00
+4.27%
8.70%CA$12.50CA$10.00CA$9.716
Sep ’25CA$9.27
CA$11.00
+18.66%
8.70%CA$12.50CA$10.00CA$9.836
Aug ’25CA$9.71
CA$11.50
+18.43%
8.33%CA$13.00CA$10.00CA$9.006
Jul ’25CA$9.03
CA$11.83
+31.04%
5.81%CA$13.00CA$11.00CA$8.916
Jun ’25CA$9.74
CA$11.83
+21.49%
5.81%CA$13.00CA$11.00CA$8.846
May ’25CA$9.34
CA$11.67
+24.91%
6.39%CA$13.00CA$11.00CA$8.956
Apr ’25CA$9.73
CA$13.33
+37.03%
5.15%CA$14.00CA$12.00CA$9.866
Mar ’25CA$10.50
CA$14.00
+33.33%
2.26%CA$14.50CA$13.50CA$11.225
Feb ’25CA$14.77
CA$15.30
+3.59%
7.04%CA$17.00CA$14.00CA$12.855
Jan ’25CA$12.73
CA$14.20
+11.55%
3.59%CA$15.00CA$13.50CA$11.915
Dec ’24CA$12.66
CA$14.20
+12.16%
3.59%CA$15.00CA$13.50CA$12.125
CA$13.33
Fair Value
5.5% undervalued intrinsic discount
6
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/12/01 21:35
End of Day Share Price 2025/11/28 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Cascades Inc. is covered by 8 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Stephen AtkinsonBMO Capital Markets Equity Research
Hamir PatelCIBC Capital Markets
Frederic TremblayDesjardins Securities Inc.