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Canfor Pulp Products

TSX:CFX
Snowflake Description

Flawless balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CFX
TSX
CA$646M
Market Cap
  1. Home
  2. CA
  3. Materials
Company description

Canfor Pulp Products Inc., together with its subsidiaries, produces and supplies pulp and paper products in North America, Europe, Asia, and internationally. The last earnings update was 77 days ago. More info.


Add to Portfolio Compare Print
  • Canfor Pulp Products has significant price volatility in the past 3 months.
CFX Share Price and Events
7 Day Returns
0%
TSX:CFX
-6.8%
CA Forestry
0%
CA Market
1 Year Returns
-61.9%
TSX:CFX
-44.6%
CA Forestry
-2.8%
CA Market
CFX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Canfor Pulp Products (CFX) 0% -12.8% -31.5% -61.9% -12.2% -18.5%
CA Forestry -6.8% -7.8% -15.2% -44.6% -2.9% -4.2%
CA Market 0% 1% -1.7% -2.8% 8% 1%
1 Year Return vs Industry and Market
  • CFX underperformed the Forestry industry which returned -44.6% over the past year.
  • CFX underperformed the Market in Canada which returned -2.8% over the past year.
Price Volatility
CFX
Industry
5yr Volatility vs Market

Value

 Is Canfor Pulp Products undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Canfor Pulp Products to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Canfor Pulp Products.

TSX:CFX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 9.4%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:CFX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Forestry Unlevered Beta Simply Wall St/ S&P Global 1.34
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.337 (1 + (1- 26.5%) (4.07%))
1.252
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.25
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.252 * 5.96%)
9.41%

Discounted Cash Flow Calculation for TSX:CFX using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Canfor Pulp Products is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:CFX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 9.41%)
2020 119.50 Analyst x3 109.22
2021 122.83 Est @ 2.79% 102.61
2022 125.95 Est @ 2.54% 96.16
2023 128.92 Est @ 2.36% 89.96
2024 131.80 Est @ 2.24% 84.06
2025 134.63 Est @ 2.15% 78.48
2026 137.44 Est @ 2.09% 73.23
2027 140.26 Est @ 2.05% 68.30
2028 143.08 Est @ 2.02% 63.68
2029 145.94 Est @ 2% 59.37
Present value of next 10 years cash flows CA$825.08
TSX:CFX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$145.94 × (1 + 1.95%) ÷ (9.41% – 1.95%)
CA$1,993.22
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$1,993.22 ÷ (1 + 9.41%)10
CA$810.84
TSX:CFX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$825.08 + CA$810.84
CA$1,635.92
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$1,635.92 / 65.25
CA$25.07
TSX:CFX Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$25.07
Current discount Discount to share price of CA$9.90
= -1 x (CA$9.90 - CA$25.07) / CA$25.07
60.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Canfor Pulp Products is available for.
Intrinsic value
>50%
Share price is CA$9.9 vs Future cash flow value of CA$25.07
Current Discount Checks
For Canfor Pulp Products to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Canfor Pulp Products's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Canfor Pulp Products's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Canfor Pulp Products's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Canfor Pulp Products's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:CFX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$2.01
TSX:CFX Share Price ** TSX (2019-07-16) in CAD CA$9.9
Canada Forestry Industry PE Ratio Median Figure of 9 Publicly-Listed Forestry Companies 9.19x
Canada Market PE Ratio Median Figure of 539 Publicly-Listed Companies 15.14x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Canfor Pulp Products.

TSX:CFX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:CFX Share Price ÷ EPS (both in CAD)

= 9.9 ÷ 2.01

4.93x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Canfor Pulp Products is good value based on earnings compared to the CA Forestry industry average.
  • Canfor Pulp Products is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does Canfor Pulp Products's expected growth come at a high price?
Raw Data
TSX:CFX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.93x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-3.6%per year
Canada Forestry Industry PEG Ratio Median Figure of 6 Publicly-Listed Forestry Companies -0.24x
Canada Market PEG Ratio Median Figure of 248 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Canfor Pulp Products, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Canfor Pulp Products's assets?
Raw Data
TSX:CFX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$9.21
TSX:CFX Share Price * TSX (2019-07-16) in CAD CA$9.9
Canada Forestry Industry PB Ratio Median Figure of 13 Publicly-Listed Forestry Companies 0.98x
Canada Market PB Ratio Median Figure of 2,440 Publicly-Listed Companies 1.43x
TSX:CFX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:CFX Share Price ÷ Book Value per Share (both in CAD)

= 9.9 ÷ 9.21

1.08x

* Primary Listing of Canfor Pulp Products.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Canfor Pulp Products is overvalued based on assets compared to the CA Forestry industry average.
X
Value checks
We assess Canfor Pulp Products's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Forestry industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Forestry industry average (and greater than 0)? (1 check)
  5. Canfor Pulp Products has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Canfor Pulp Products expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Canfor Pulp Products, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-3.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Canfor Pulp Products expected to grow at an attractive rate?
  • Canfor Pulp Products's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Canfor Pulp Products's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
  • Unable to compare Canfor Pulp Products's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSX:CFX Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:CFX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -3.6%
Canada Forestry Industry Earnings Growth Rate Market Cap Weighted Average -7.9%
Canada Forestry Industry Revenue Growth Rate Market Cap Weighted Average 2%
Canada Market Earnings Growth Rate Market Cap Weighted Average 13.9%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:CFX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:CFX Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 208
2019-12-31 183
TSX:CFX Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,319 149 131
2018-12-31 1,374 215 184
2018-09-30 1,408 299 215
2018-06-30 1,364 265 185
2018-03-31 1,248 211 142
2017-12-31 1,198 195 102
2017-09-30 1,133 163 67
2017-06-30 1,140 168 77
2017-03-31 1,116 172 59
2016-12-31 1,102 150 58
2016-09-30 1,175 146 77
2016-06-30 1,177 152 86

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Canfor Pulp Products's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Canfor Pulp Products is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:CFX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Canfor Pulp Products Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:CFX Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31
2019-12-31
TSX:CFX Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 2.01
2018-12-31 2.83
2018-09-30 3.30
2018-06-30 2.83
2018-03-31 2.17
2017-12-31 1.55
2017-09-30 1.01
2017-06-30 1.15
2017-03-31 0.88
2016-12-31 0.86
2016-09-30 1.13
2016-06-30 1.25

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Canfor Pulp Products will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Canfor Pulp Products's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Canfor Pulp Products has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Canfor Pulp Products performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Canfor Pulp Products's growth in the last year to its industry (Forestry).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Canfor Pulp Products's year on year earnings growth rate has been positive over the past 5 years.
  • Canfor Pulp Products's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Canfor Pulp Products's 1-year earnings growth is negative, it can't be compared to the CA Forestry industry average.
Earnings and Revenue History
Canfor Pulp Products's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Canfor Pulp Products Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:CFX Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,318.60 130.90 177.20
2018-12-31 1,374.30 184.40 179.90
2018-09-30 1,407.50 215.40 186.10
2018-06-30 1,363.90 185.10 187.80
2018-03-31 1,248.40 142.30 183.80
2017-12-31 1,197.90 102.10 186.30
2017-09-30 1,132.80 67.00 182.50
2017-06-30 1,139.50 76.80 184.80
2017-03-31 1,115.80 58.80 186.10
2016-12-31 1,101.90 57.80 186.70
2016-09-30 1,174.90 77.40 198.40
2016-06-30 1,177.40 86.20 201.20
2016-03-31 1,196.20 101.70 204.60
2015-12-31 1,174.70 106.60 200.50
2015-09-30 1,107.90 97.60 187.40
2015-06-30 1,051.40 90.70 176.80
2015-03-31 1,027.90 91.80 170.00
2014-12-31 980.50 89.50 159.90
2014-09-30 962.10 83.00 159.90
2014-06-30 920.60 67.80 154.50
2014-03-31 895.70 56.60 150.60
2013-12-31 886.80 41.80 151.40
2013-09-30 843.10 33.00 146.00
2013-06-30 824.70 18.90 145.00
2013-03-31 807.90 14.30 143.60
2012-12-31 810.40 9.10 145.50
2012-09-30 821.20 11.70 144.10

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Canfor Pulp Products has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Canfor Pulp Products used its assets more efficiently than the CA Forestry industry average last year based on Return on Assets.
  • Canfor Pulp Products has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Canfor Pulp Products's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Forestry industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Canfor Pulp Products has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Canfor Pulp Products's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Canfor Pulp Products's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Canfor Pulp Products is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Canfor Pulp Products's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Canfor Pulp Products's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 15.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Canfor Pulp Products Company Filings, last reported 3 months ago.

TSX:CFX Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 600.70 23.00
2018-12-31 596.60 0.00 6.90
2018-09-30 732.20 0.00 205.40
2018-06-30 693.00 0.00 187.90
2018-03-31 634.00 0.00 119.40
2017-12-31 571.40 0.00 76.70
2017-09-30 508.10 50.00 81.30
2017-06-30 502.20 50.00 91.50
2017-03-31 501.60 50.00 78.30
2016-12-31 484.70 50.00 51.90
2016-09-30 476.50 50.00 31.90
2016-06-30 459.10 50.00 25.00
2016-03-31 490.10 50.00 22.80
2015-12-31 479.70 50.00 17.50
2015-09-30 463.60 50.00 16.60
2015-06-30 519.80 50.00 89.70
2015-03-31 504.00 50.00 84.00
2014-12-31 489.60 50.00 76.80
2014-09-30 485.60 50.00 39.80
2014-06-30 465.90 50.00 38.20
2014-03-31 453.40 55.00 16.90
2013-12-31 438.00 60.60 13.50
2013-09-30 411.30 113.30 28.70
2013-06-30 403.40 115.60 44.90
2013-03-31 394.10 111.70 16.50
2012-12-31 386.60 109.40
2012-09-30 382.70 115.20
  • Canfor Pulp Products's level of debt (3.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (12.1% vs 3.8% today).
  • Debt is well covered by operating cash flow (646.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 104.1x coverage).
X
Financial health checks
We assess Canfor Pulp Products's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Canfor Pulp Products has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Canfor Pulp Products's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.53%
Current annual income from Canfor Pulp Products dividends. Estimated to be 2.53% next year.
If you bought CA$2,000 of Canfor Pulp Products shares you are expected to receive CA$51 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Canfor Pulp Products's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.06%).
  • Canfor Pulp Products's dividend is below the markets top 25% of dividend payers in Canada (5.75%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:CFX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Forestry Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 3.5%
Canada Market Average Dividend Yield Market Cap Weighted Average of 336 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:CFX Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.25 3.00
2019-12-31 0.25 3.00
TSX:CFX Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-05-01 0.250 2.185
2019-02-21 0.250 1.631
2018-10-24 0.250 1.365
2018-07-25 0.250 0.960
2018-04-25 0.250 1.106
2018-02-22 0.250 1.511
2017-10-20 0.250 1.792
2017-07-26 0.250 1.904
2017-04-27 0.250 2.042
2017-04-26 0.250 2.156
2017-02-08 0.250 2.164
2016-10-26 0.250 2.446
2016-07-26 0.250 2.417
2016-04-27 0.250 2.402
2016-04-25 0.250 2.402
2016-02-18 0.250 2.178
2015-10-28 0.250 2.065
2015-07-21 0.250 1.994
2015-04-28 0.250 1.610
2015-02-05 0.250 1.638
2015-02-04 0.250 1.570
2014-10-30 0.250 1.771
2014-07-24 0.250 2.185
2014-04-29 0.250 2.005
2014-02-05 0.200 1.694
2013-10-30 0.200 1.767
2013-07-25 0.200 2.037
2013-05-01 0.200 2.273
2013-02-14 0.200 1.903
2012-07-25 0.200 2.170
2012-03-05 1.320 11.354

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Canfor Pulp Products has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Canfor Pulp Products has only been paying a dividend for 7 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Canfor Pulp Products's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (8x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Canfor Pulp Products's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Canfor Pulp Products afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Canfor Pulp Products has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Canfor Pulp Products's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Don Kayne
COMPENSATION CA$0
AGE 61
TENURE AS CEO 6.8 years
CEO Bio

Mr. Donald B. Kayne, also known as Don, has been the Chief Executive Officer of Canfor Pulp Products Inc., since September 30, 2012 and serves as its Director since 2017. Mr. Kayne has been the Chief Executive Officer, Director since 2017 and President of Canfor Corp. since May 5, 2011. He served as the Chief Executive Officer of Canfor Pulp Holding Inc. at Canfor Pulp Limited Partnership and since September 30, 2012. He spent 10 years as Vice President of Wood Products Marketing and Sales at Canfor from January 2001 to May 5, 2011. Prior to this, he served as a General Manager of Wood Products Sales and Marketing at Canfor for six years. He began his career with Canfor as a regional sales representative in 1979 and has held a variety of sales and marketing roles in its Wood Products Group. Prior to being appointed CEO, Don spent 10 years as Canfor’s Vice President of Sales and Marketing, and is one of the lead architects of the market for British Columbia lumber in China. He completed the Forestry and Business Administration program at the British Columbia Institute of Technology. He has been an Independent Director at Cameco Corporation since January 1, 2016. In 2014, he was appointed to the bi-national Softwood Lumber Board. He is a director and past chair of the Forest Products Association of Canada, Council of Forest Industries, Alberta Forest Products Association and the BC Lumber Trade Council. Mr. Kayne is also chair of the Educating Girls of Rural China Foundation, a charitable organization that works to improve the lives of women in rural areas of western China by providing access to education.

CEO Compensation
  • Insufficient data for Don to compare compensation growth.
  • Don's remuneration is lower than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Canfor Pulp Products management team in years:

6.8
Average Tenure
  • The average tenure for the Canfor Pulp Products management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Don Kayne

TITLE
CEO & Director
AGE
61
TENURE
6.8 yrs

Alan Nicholl

TITLE
CFO & Executive VP of Finance
TENURE
6.8 yrs

Martin Pudlas

TITLE
Vice President of Operations & Innovation
COMPENSATION
CA$1M
TENURE
6.8 yrs

David Calabrigo

TITLE
Senior VP of Corporate Development & Legal Affairs and Corporate Secretary
AGE
60

Corinne Stavness

TITLE
Senior Director of External Affairs & Communications

Kevin Pankratz

TITLE
Senior Vice President of Sales & Marketing

Mark Feldinger

TITLE
Senior Vice President of Global Supply Chain
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the Canfor Pulp Products board of directors in years:

3.3
Average Tenure
64
Average Age
  • The tenure for the Canfor Pulp Products board of directors is about average.
Board of Directors

Conrad Pinette

TITLE
Chairman of the Board
COMPENSATION
CA$126K
AGE
79
TENURE
1.9 yrs

Don Kayne

TITLE
CEO & Director
AGE
61
TENURE
2.5 yrs

Stan Bracken-Horrocks

TITLE
Independent Director
COMPENSATION
CA$127K
AGE
75
TENURE
13.5 yrs

William Stinson

TITLE
Independent Director
COMPENSATION
CA$107K
AGE
85
TENURE
7.5 yrs

John Baird

TITLE
Independent Director
COMPENSATION
CA$94K
AGE
49
TENURE
3.3 yrs

Barbara Hislop

TITLE
Director
COMPENSATION
CA$123K
AGE
64
TENURE
2.3 yrs

Glen Clark

TITLE
Director
AGE
61
TENURE
10.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
27. Nov 18 Buy Peter J. Bentley Individual 27. Nov 18 27. Nov 18 5,000 CA$19.62 CA$98,120
26. Nov 18 Buy Peter J. Bentley Individual 26. Nov 18 26. Nov 18 10,000 CA$19.53 CA$195,266
X
Management checks
We assess Canfor Pulp Products's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Canfor Pulp Products has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

These 4 Measures Indicate That Canfor Pulp Products (TSE:CFX) Is Using Debt Reasonably Well

TSX:CFX Historical Debt, June 29th 2019 How Healthy Is Canfor Pulp Products's Balance Sheet? … Because it carries more debt than cash, we think it's worth watching Canfor Pulp Products's balance sheet over time. … During the last three years, Canfor Pulp Products produced sturdy free cash flow equating to 54% of its EBIT, about what we'd expect.

Simply Wall St -

Should You Consider Canfor Pulp Products Inc. (TSE:CFX)?

Canfor Pulp Products Inc. … If you're interested in understanding beyond my broad commentary, take a look at the report on Canfor Pulp Products here. … TSX:CFX Intrinsic value, June 20th 2019 Next Steps: For Canfor Pulp Products, there are three relevant aspects you should look at: Future Outlook: What are well-informed industry analysts predicting for CFX’s future growth?

Simply Wall St -

Why Canfor Pulp Products Inc. (TSE:CFX) Could Be Worth Watching

The stock’s ratio of 5.44x is currently trading slightly below its industry peers’ ratio of 9.12x, which means if you buy Canfor Pulp Products today, you’d be paying a fair price for it. … And if you believe Canfor Pulp Products should be trading in this range, then there isn’t much room for the share price grow beyond where it’s currently trading. … Since Canfor Pulp Products’s share price is quite volatile, we could potentially see it sink lower (or rise higher) in the future, giving us another chance to buy.

Simply Wall St -

Is Canfor Pulp Products Inc.'s (TSE:CFX) P/E Ratio Really That Good?

The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Canfor Pulp Products: P/E of 5.86 = CA$11.76 ÷ CA$2.01 (Based on the year to March 2019.) Is A High P/E Ratio Good? … Canfor Pulp Products shrunk earnings per share by 7.6% last year. … The Verdict On Canfor Pulp Products's P/E Ratio Canfor Pulp Products trades on a P/E ratio of 5.9, which is below the CA market average of 14.8.

Simply Wall St -

What Kind Of Investor Owns Most Of Canfor Pulp Products Inc. (TSE:CFX)?

Check out our latest analysis for Canfor Pulp Products TSX:CFX Ownership Summary, May 13th 2019 What Does The Institutional Ownership Tell Us About Canfor Pulp Products? … We can see that Canfor Pulp Products does have institutional investors; and they hold 22% of the stock. … Insider Ownership Of Canfor Pulp Products The definition of an insider can differ slightly between different countries, but members of the board of directors always count.

Simply Wall St -

Is Canfor Pulp Products Inc.’s (TSE:CFX) 33% ROCE Any Good?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

If You Had Bought Canfor Pulp Products (TSE:CFX) Stock Three Years Ago, You Could Pocket A 36% Gain Today

(TSE:CFX) shareholders are probably generally happy, the stock hasn't had particularly good run recently, with the share price falling 17% in the last quarter. … In fact, the company's share price bested the return of its market index in that time, posting a gain of 36%. … During three years of share price growth, Canfor Pulp Products achieved compound earnings per share growth of 23% per year.

Simply Wall St -

Is Canfor Pulp Products Inc. (TSE:CFX) A Top Dividend Stock?

Historically, Canfor Pulp Products Inc. … Let's dig deeper into whether Canfor Pulp Products should have a place in your portfolio. … View our latest analysis for Canfor Pulp Products

Simply Wall St -

Should We Be Delighted With Canfor Pulp Products Inc.'s (TSE:CFX) ROE Of 31%?

Canfor Pulp Products has a ROE of 31%, based on the last twelve months. … One way to conceptualize this, is that for each CA$1 of shareholders' equity it has, the company made CA$0.31 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Does Canfor Pulp Products Inc. (TSE:CFX) Have A Volatile Share Price?

(TSE:CFX), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility).

Simply Wall St -

Company Info

Description

Canfor Pulp Products Inc., together with its subsidiaries, produces and supplies pulp and paper products in North America, Europe, Asia, and internationally. The company operates through two segments, Pulp and Paper. It offers solid wood; bleached and unbleached softwood pulp; and bleached and unbleached kraft, and coloured kraft papers. The company also supplies fiber products; and produces green energy. The company was incorporated in 2010 and is headquartered in Vancouver, Canada. Canfor Pulp Products Inc. is a subsidiary of Canadian Forest Products Ltd.

Details
Name: Canfor Pulp Products Inc.
CFX
Exchange: TSX
Founded: 2010
CA$645,982,514
65,250,759
Website: http://www.canfor.com
Address: Canfor Pulp Products Inc.
230 - 1700 West 75th Avenue,
Vancouver,
British Columbia, V6P 6G2,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX CFX Common Shares The Toronto Stock Exchange CA CAD 25. Mar 2011
OTCPK CFPU.F Common Shares Pink Sheets LLC US USD 25. Mar 2011
DB 8CP Common Shares Deutsche Boerse AG DE EUR 25. Mar 2011
Number of employees
Current staff
Staff numbers
1,278
Canfor Pulp Products employees.
Industry
Paper Products
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 00:25
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/07/16
Last earnings filing: 2019/05/01
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.