Canfor Pulp Products Inc.

TSX:CFX Stock Report

Market Cap: CA$54.1m

Canfor Pulp Products Valuation

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

Valuation Score

6/6

Valuation Score 6/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: CFX (CA$0.86) is trading below our estimate of fair value (CA$1.76)

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

Key Valuation Metric

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

Key metric: As CFX is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for CFX. This is calculated by dividing CFX's market cap by their current revenue.
What is CFX's PS Ratio?
PS Ratio0.07x
SalesCA$829.40m
Market CapCA$54.14m

Price to Sales Ratio vs Peers

How does CFX's PS Ratio compare to its peers?

The above table shows the PS ratio for CFX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.7x
SXP Supremex
0.3x0.5%CA$98.2m
WBE WestBond Enterprises
0.8xn/aCA$7.8m
AEP Atlas Engineered Products
1.5x28.1%CA$81.1m
WEF Western Forest Products
0.1x8.3%CA$142.5m
CFX Canfor Pulp Products
0.07x-5.7%CA$54.1m

Price-To-Sales vs Peers: CFX is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (0.7x).

Price to Sales Ratio vs Industry

How does CFX's PS Ratio compare vs other companies in the North American Forestry Industry?

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.0.8x4.8%
CFX Canfor Pulp Products
 0.07x-5.7%US$38.61m
CFX 0.1xIndustry Avg. 0.8xNo. of Companies4PS00.40.81.21.62+
2 CompaniesEstimated GrowthMarket Cap
Industry Avg.0.8x47.1%
CFX Canfor Pulp Products
 0.07xn/aUS$38.61m
No more companies

Price-To-Sales vs Industry: CFX is good value based on its Price-To-Sales Ratio (0.1x) compared to the Global Forestry industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

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

CFX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.07x
Fair PS Ratio0.4x

Price-To-Sales vs Fair Ratio: CFX is good value based on its Price-To-Sales Ratio (0.1x) compared to the estimated Fair Price-To-Sales Ratio (0.4x).

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 CFX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$0.86
CA$1.44
+67.2%
14.4%CA$1.75CA$1.25n/a4
Nov ’25CA$0.99
CA$1.44
+45.2%
14.4%CA$1.75CA$1.25n/a4
Oct ’25CA$0.87
CA$1.44
+65.2%
14.4%CA$1.75CA$1.25n/a4
Sep ’25CA$1.02
CA$1.44
+40.9%
14.4%CA$1.75CA$1.25n/a4
Aug ’25CA$0.95
CA$1.44
+51.3%
14.4%CA$1.75CA$1.25n/a4
Jul ’25CA$1.06
CA$1.95
+84.0%
22.1%CA$2.75CA$1.50n/a5
Jun ’25CA$1.62
CA$1.95
+20.4%
22.1%CA$2.75CA$1.50n/a5
May ’25CA$1.55
CA$1.95
+25.8%
22.1%CA$2.75CA$1.50n/a5
Apr ’25CA$1.63
CA$2.03
+24.5%
10.3%CA$2.40CA$1.75n/a5
Mar ’25CA$1.67
CA$2.08
+24.6%
7.7%CA$2.40CA$2.00n/a5
Feb ’25CA$1.74
CA$2.08
+19.5%
7.7%CA$2.40CA$2.00n/a5
Jan ’25CA$1.80
CA$2.23
+23.6%
10.2%CA$2.50CA$2.00n/a4
Dec ’24CA$1.53
CA$2.23
+45.4%
10.2%CA$2.50CA$2.00n/a4
Nov ’24CA$1.80
CA$2.28
+26.4%
12.2%CA$2.60CA$2.00CA$0.994
Oct ’24CA$1.98
CA$2.34
+18.1%
10.0%CA$2.60CA$2.00CA$0.874
Sep ’24CA$2.00
CA$3.56
+78.1%
43.1%CA$6.00CA$2.25CA$1.024
Aug ’24CA$2.01
CA$3.56
+77.2%
43.1%CA$6.00CA$2.25CA$0.954
Jul ’24CA$2.04
CA$3.85
+88.7%
30.1%CA$6.00CA$2.50CA$1.065
Jun ’24CA$2.00
CA$4.19
+109.7%
31.1%CA$6.00CA$2.50CA$1.626
May ’24CA$2.13
CA$4.44
+108.6%
28.4%CA$6.00CA$2.50CA$1.556
Apr ’24CA$2.97
CA$5.19
+74.9%
15.3%CA$6.00CA$4.25CA$1.636
Mar ’24CA$3.73
CA$5.53
+48.2%
15.4%CA$7.00CA$4.75CA$1.676
Feb ’24CA$4.07
CA$5.65
+38.9%
15.6%CA$7.00CA$4.75CA$1.746
Jan ’24CA$4.14
CA$6.28
+51.6%
15.4%CA$8.00CA$4.75CA$1.806
Dec ’23CA$4.46
CA$6.50
+45.7%
12.9%CA$8.00CA$5.50CA$1.535
Nov ’23CA$4.83
CA$6.50
+34.6%
12.9%CA$8.00CA$5.50CA$1.805

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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