CCL Industries Management
Management criteria checks 3/4
CCL Industries' CEO is Geoffrey Martin, appointed in May 2005, has a tenure of 21.08 years. total yearly compensation is CA$7.33M, comprised of 28.1% salary and 71.9% bonuses, including company stock and options. directly owns 0.4% of the company’s shares, worth CA$61.41M. The average tenure of the management team and the board of directors is 14.6 years and 2.9 years respectively.
Key information
Geoffrey Martin
Chief executive officer
CA$7.3m
Total compensation
| CEO salary percentage | 28.13% |
| CEO tenure | 21.1yrs |
| CEO ownership | 0.4% |
| Management average tenure | 14.6yrs |
| Board average tenure | 2.9yrs |
Recent management updates
Recent updates
Narrative Update • Apr 26
CCL.B: Higher Price Assumptions And Dividend Support Will Shape Future Upside
Analysts have nudged the CCL Industries fair value estimate to CA$101.20 from CA$101.10, as modest adjustments to revenue growth and profit margin assumptions, alongside Street price target moves into the CA$98 to CA$102 range, refine the overall outlook on the shares. Analyst Commentary Recent Street research around CCL Industries clusters in a fairly tight target range of CA$98 to CA$102, which sits close to the updated fair value estimate of CA$101.20.Narrative Update • Apr 12
CCL.B: Higher Price Assumptions And Dividend Support Will Drive Future Upside Potential
Analyst price targets for CCL Industries have been revised modestly higher into a CA$98 to CA$102 range, as analysts highlight their updated views on the company that include both target increases and a recent downgrade in rating. Analyst Commentary Recent research updates give a mixed but generally constructive picture on CCL Industries, with several price targets now clustered in the CA$98 to CA$102 range alongside a rating downgrade that tempers the overall message.Narrative Update • Mar 28
CCL.B: Higher Price Assumptions And Dividend Support Will Shape Future Upside Potential
CCL Industries' analyst price target edges higher to CA$101.10 from CA$100.90, reflecting modest tweaks to growth and margin assumptions, alongside recent Street target moves to a range of CA$98 to CA$102. Analyst Commentary Street research on CCL Industries points to a slightly more supportive stance on valuation, with several firms adjusting their targets into a tighter CA$98 to CA$102 range while maintaining broadly constructive ratings.Narrative Update • Mar 14
CCL.B: Higher Price Assumptions And Dividend Support Will Shape Upside Potential
Analysts have inched their consolidated CCL Industries price target higher by about CA$0.10 to just under CA$101, reflecting small model tweaks to fair value, discount rate and forward P/E assumptions after recent target lifts from several Canadian banks alongside a downgrade from one firm. Analyst Commentary Recent research points to a mixed but generally constructive stance on CCL Industries, with several firms adjusting price targets and one downgrade tempering the tone.Narrative Update • Feb 28
CCL.B: Refreshed Outlook And Completed Buyback Will Shape Balanced Return Potential
Narrative update Analysts have lifted their blended price target on CCL Industries to CA$100.80 from CA$97.91, citing refreshed models that incorporate updated assumptions for fair value, discount rate, revenue growth, profit margins and future P/E, alongside recent target increases from CIBC, Scotiabank and RBC Capital. Analyst Commentary Recent research updates on CCL Industries point to a cluster of higher price targets, but with different levels of conviction on how much upside is left and how execution risk should be viewed.Narrative Update • Feb 09
CCL.B: Recent Buyback And Higher Street Conviction Will Support Future Upside
The updated analyst price target for CCL Industries edges up to about C$98 from roughly C$97.80, as analysts factor in research that includes higher targets in the C$94 to C$103 range, along with modest tweaks to fair value, discount rate, revenue growth, profit margin and future P/E assumptions. Analyst Commentary Recent research on CCL Industries points to a mix of optimism and caution, with several firms revising their price targets in the C$94 to C$103 range and at least one downgrade balancing the tone.Narrative Update • Jan 25
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.Analysis Article • Jan 11
Is CCL Industries (TSE:CCL.B) Using Too Much Debt?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Narrative Update • Jan 11
CCL.B: Higher Street Conviction And Completed Buyback Will Shape Steady Share Outlook
Analysts have lifted their average price target on CCL Industries to about C$99, up from around C$93. This reflects a series of recent target increases across the Street, while key model inputs such as fair value and growth assumptions remain broadly unchanged.Analysis Article • Dec 30
CCL Industries (TSE:CCL.B) Ticks All The Boxes When It Comes To Earnings Growth
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Narrative Update • Dec 15
CCL.B: Rising Street Optimism And Buybacks Will Support Stronger Share Momentum
CCL Industries' analyst fair value estimate has inched up to approximately C$97.30 from about C$97.20, as analysts factor in a series of higher Street price targets in the C$94 to C$103 range and modestly stronger expectations for revenue growth and profitability. Analyst Commentary Bullish analysts have recently raised their price targets into the mid C$90s to low C$100s.Analysis Article • Dec 07
CCL Industries Inc.'s (TSE:CCL.B) Business Is Yet to Catch Up With Its Share Price
It's not a stretch to say that CCL Industries Inc.'s ( TSE:CCL.B ) price-to-earnings (or "P/E") ratio of 17.7x right...Narrative Update • Nov 30
CCL.B: Recent Share Buyback And Ratings Upgrades Will Drive Stronger Momentum
CCL Industries' analyst price target has increased from C$96.30 to C$97.20. This change reflects analysts' improved outlook based on upward revisions to peer research price targets and supporting valuation metrics.Analysis Article • Nov 25
Investors Met With Slowing Returns on Capital At CCL Industries (TSE:CCL.B)
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. One common...Narrative Update • Nov 16
CCL.B: Share Buyback And Strong Execution Will Support Balanced Outlook
CCL Industries' analyst price target has increased from C$92.70 to C$96.30. This reflects analysts' improved outlook, supported by multiple research firms raising their targets based on ongoing performance trends.Analysis Article • Oct 28
CCL Industries Inc. (TSE:CCL.B) Shares Could Be 43% Below Their Intrinsic Value Estimate
Key Insights Using the 2 Stage Free Cash Flow to Equity, CCL Industries fair value estimate is CA$141 CCL Industries is...Analysis Article • Sep 19
These 4 Measures Indicate That CCL Industries (TSE:CCL.B) Is Using Debt Reasonably Well
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Sep 06
Some Confidence Is Lacking In CCL Industries Inc.'s (TSE:CCL.B) P/E
With a median price-to-earnings (or "P/E") ratio of close to 16x in Canada, you could be forgiven for feeling...Narrative Update • Sep 04
RFID And Sustainable Packaging Will Drive Market Expansion
With both the discount rate and net profit margin for CCL Industries remaining steady, there has been no change to the consensus analyst price target, which remains at CA$92.70. What's in the News No shares repurchased under the buyback announced on May 22, 2025.Analysis Article • Jul 30
CCL Industries (TSE:CCL.B) Has More To Do To Multiply In Value Going Forward
What are the early trends we should look for to identify a stock that could multiply in value over the long term...Analysis Article • Jul 18
With EPS Growth And More, CCL Industries (TSE:CCL.B) Makes An Interesting Case
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...Analysis Article • Jun 10
CCL Industries' (TSE:CCL.B) Dividend Will Be CA$0.32
The board of CCL Industries Inc. ( TSE:CCL.B ) has announced that it will pay a dividend of CA$0.32 per share on the...
New Narrative • Nov 20
Synergistic Expansions And RFID Innovations Propel Future Growth Amidst Global Challenges
Strategic acquisitions and capacity expansions, such as in Spain and Bangladesh, position CCL Industries for revenue growth by tapping into key markets and synergies.CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | CA$800m |
| Dec 31 2025 | CA$7m | CA$2m | CA$802m |
| Sep 30 2025 | n/a | n/a | CA$811m |
| Jun 30 2025 | n/a | n/a | CA$792m |
| Mar 31 2025 | n/a | n/a | CA$858m |
| Dec 31 2024 | CA$25m | CA$2m | CA$843m |
| Sep 30 2024 | n/a | n/a | CA$702m |
| Jun 30 2024 | n/a | n/a | CA$680m |
| Mar 31 2024 | n/a | n/a | CA$556m |
| Dec 31 2023 | CA$6m | CA$2m | CA$530m |
| Sep 30 2023 | n/a | n/a | CA$637m |
| Jun 30 2023 | n/a | n/a | CA$631m |
| Mar 31 2023 | n/a | n/a | CA$639m |
| Dec 31 2022 | CA$6m | CA$2m | CA$623m |
| Sep 30 2022 | n/a | n/a | CA$623m |
| Jun 30 2022 | n/a | n/a | CA$612m |
| Mar 31 2022 | n/a | n/a | CA$602m |
| Dec 31 2021 | CA$6m | CA$2m | CA$599m |
| Sep 30 2021 | n/a | n/a | CA$600m |
| Jun 30 2021 | n/a | n/a | CA$600m |
| Mar 31 2021 | n/a | n/a | CA$551m |
| Dec 31 2020 | CA$6m | CA$1m | CA$530m |
| Sep 30 2020 | n/a | n/a | CA$488m |
| Jun 30 2020 | n/a | n/a | CA$463m |
| Mar 31 2020 | n/a | n/a | CA$480m |
| Dec 31 2019 | CA$20m | CA$2m | CA$477m |
Compensation vs Market: Geoffrey's total compensation ($USD5.30M) is about average for companies of similar size in the Canadian market ($USD7.43M).
Compensation vs Earnings: Geoffrey's compensation has been consistent with company performance over the past year.
CEO
Geoffrey Martin (71 yo)
21.1yrs
Tenure
CA$7,331,968
Compensation
Mr. Geoffrey T. Martin has been the Principal Executive Officer of Checkpoint Systems Inc. since May 13, 2016. Mr. Martin has been the President of CCL Industries Inc. since May 17, 2005 and has been its C...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 35.1yrs | CA$1.44m | 0.00044% CA$ 67.1k | |
| President | 21.1yrs | CA$7.33m | 0.40% CA$ 61.4m | |
| Senior VP & CFO | 14.7yrs | CA$2.49m | 0.028% CA$ 4.3m | |
| Senior Vice President of Finance | 12.4yrs | CA$2.79m | 0.059% CA$ 8.9m | |
| President of Home & Personal Care Worldwide | 14.6yrs | CA$3.02m | no data | |
| Group VP of Central America & President of Checkpoint Unit | 4.9yrs | CA$2.87m | 0.050% CA$ 7.7m | |
| President of Food & Beverage | 14.6yrs | CA$2.49m | 0.048% CA$ 7.3m | |
| Vice President of Corporate Accounting | no data | no data | no data | |
| VP & General Counsel | 11.9yrs | no data | no data | |
| VP and MD of Home & Personal Care Europe and Food & Beverage - U.K. | no data | no data | no data | |
| VP & MD of CCL Design Europe | no data | no data | no data | |
| VP and MD of Food & Beverage Europe | no data | no data | no data |
14.6yrs
Average Tenure
63yo
Average Age
Experienced Management: CCL.B's management team is seasoned and experienced (14.6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 35.1yrs | CA$1.44m | 0.00044% CA$ 67.1k | |
| President | 20.7yrs | CA$7.33m | 0.40% CA$ 61.4m | |
| Independent Director | 23yrs | CA$474.84k | 0.000060% CA$ 9.1k | |
| Independent Director | 1.4yrs | CA$205.21k | 0.00035% CA$ 53.3k | |
| Independent Director | 2.5yrs | CA$309.82k | no data | |
| Non-Independent Director | 9.5yrs | CA$261.40k | no data | |
| Independent Director | less than a year | CA$111.01k | no data | |
| Independent Director | 3.3yrs | CA$278.68k | no data | |
| Independent Director | less than a year | CA$110.63k | no data | |
| Non Independent Director | 1.4yrs | CA$184.96k | 0.00023% CA$ 35.1k |
2.9yrs
Average Tenure
59.5yo
Average Age
Experienced Board: CCL.B's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/01 11:31 |
| End of Day Share Price | 2026/06/01 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* 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
CCL Industries Inc. is covered by 15 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Harriet Li | Accountability Research Corporation |
| David McFadgen | ATB Cormark |
| David McFadgen | ATB Cormark Historical (Cormark Securities) |