Executive Summary
Interfor Corporation, together with its subsidiaries, produces and sells wood products in Canada, the United States, Japan, China, Hong Knog, Taiwan, and internationally. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 12% per year for the next 3 years
Snowflake Analysis
Excellent balance sheet with questionable track record.
Similar Companies
Share Price & News
How has Interfor's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: IFP is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: IFP's weekly volatility (6%) has been stable over the past year.
Market Performance
7 Day Return
-6.7%
IFP
-4.2%
CA Forestry
-0.5%
CA Market
1 Year Return
42.2%
IFP
28.0%
CA Forestry
1.6%
CA Market
Return vs Industry: IFP exceeded the Canadian Forestry industry which returned 28.1% over the past year.
Return vs Market: IFP exceeded the Canadian Market which returned 1.7% over the past year.
Shareholder returns
| IFP | Industry | Market | |
|---|---|---|---|
| 7 Day | -6.7% | -4.2% | -0.5% |
| 30 Day | -6.5% | -5.6% | 2.9% |
| 90 Day | 53.3% | 26.4% | 12.2% |
| 1 Year | 42.2%42.2% | 30.1%28.0% | 5.3%1.6% |
| 3 Year | -3.7%-3.7% | -5.5%-11.6% | 13.1%2.3% |
| 5 Year | 104.8%104.8% | 57.0%43.1% | 66.1%40.5% |
Long-Term Price Volatility Vs. Market
How volatile is Interfor's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Are Interfor's (TSE:IFP) Statutory Earnings A Good Guide To Its Underlying Profitability?4 weeks ago | Simply Wall St
Investors Who Bought Interfor (TSE:IFP) Shares Five Years Ago Are Now Up 65%1 month ago | Simply Wall St
Here's Why Interfor (TSE:IFP) Can Manage Its Debt ResponsiblyValuation
Is Interfor undervalued compared to its fair value and its price relative to the market?
1.7%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: IFP (CA$22.38) is trading below our estimate of fair value (CA$22.77)
Significantly Below Fair Value: IFP is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: IFP is poor value based on its PE Ratio (16.8x) compared to the CA Forestry industry average (14.7x).
PE vs Market: IFP is poor value based on its PE Ratio (16.8x) compared to the Canadian market (16.6x).
Price to Earnings Growth Ratio
PEG Ratio: IFP's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: IFP's PB Ratio (1.5x) is in line with the CA Forestry industry average.
Next Steps
Future Growth
How is Interfor forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
-12.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: IFP's earnings are forecast to decline over the next 3 years (-12% per year).
Earnings vs Market: IFP's earnings are forecast to decline over the next 3 years (-12% per year).
High Growth Earnings: IFP's earnings are forecast to decline over the next 3 years.
Revenue vs Market: IFP's revenue (3.8% per year) is forecast to grow slower than the Canadian market (7.9% per year).
High Growth Revenue: IFP's revenue (3.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if IFP's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Interfor performed over the past 5 years?
-8.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: IFP has a large one-off loss of CA$43.7M impacting its September 30 2020 financial results.
Growing Profit Margin: IFP became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: IFP has become profitable over the past 5 years, growing earnings by -8.5% per year.
Accelerating Growth: IFP has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: IFP has become profitable in the last year, making it difficult to compare its past year earnings growth to the Forestry industry (31.1%).
Return on Equity
High ROE: IFP's Return on Equity (9.1%) is considered low.
Next Steps
Financial Health
How is Interfor's financial position?
Financial Position Analysis
Short Term Liabilities: IFP's short term assets (CA$649.3M) exceed its short term liabilities (CA$196.5M).
Long Term Liabilities: IFP's short term assets (CA$649.3M) exceed its long term liabilities (CA$552.2M).
Debt to Equity History and Analysis
Debt Level: IFP's debt to equity ratio (40.7%) is considered high.
Reducing Debt: IFP's debt to equity ratio has reduced from 65.9% to 40.7% over the past 5 years.
Debt Coverage: IFP's debt is well covered by operating cash flow (80.3%).
Interest Coverage: IFP's interest payments on its debt are well covered by EBIT (14.3x coverage).
Balance Sheet
Next Steps
Dividend
What is Interfor current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate IFP's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate IFP's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if IFP's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if IFP's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of IFP's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.1yrs
Average management tenure
CEO
Ian Fillinger (51 yo)
1
Tenure
CA$1,038,371
Compensation
Mr. Ian M. Fillinger has been President, Chief Executive Officer and Director of Interfor Corporation (also known as International Forest Products Ltd) since January 1, 2020. Mr. Fillinger was Chief Operat...
CEO Compensation Analysis
Compensation vs Market: Ian's total compensation ($USD815.34K) is about average for companies of similar size in the Canadian market ($USD1.16M).
Compensation vs Earnings: Ian's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1yr | CA$1.04m | 0.080% CA$ 1.2m | |
| Senior Vice President of Sales & Marketing | 5.75yrs | CA$893.83k | 0.046% CA$ 693.9k | |
| Senior Vice President of Human Resources & IT | 2.92yrs | CA$699.67k | 0.013% CA$ 194.7k | |
| Senior VP & CFO | 0.42yr | no data | 0.021% CA$ 321.1k | |
| General Counsel & Corporate Secretary | 5.33yrs | no data | 0.012% CA$ 178.7k | |
| VP & Chief Forester | 19yrs | no data | no data |
4.1yrs
Average Tenure
48yo
Average Age
Experienced Management: IFP's management team is considered experienced (4.1 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1yr | CA$1.04m | 0.080% CA$ 1.2m | |
| Independent Director | 4.92yrs | CA$147.00k | 0.022% CA$ 335.8k | |
| Independent Director | 2.67yrs | CA$132.00k | no data | |
| Independent Director | 14.25yrs | CA$133.00k | no data | |
| Independent Director | 13.75yrs | CA$126.00k | 0.033% CA$ 492.3k | |
| Independent Director | 13.92yrs | CA$137.00k | 0.022% CA$ 335.8k | |
| Independent Chairman of the Board | 13yrs | CA$252.00k | 0.51% CA$ 7.7m | |
| Independent Director | 4.25yrs | CA$141.00k | no data | |
| Independent Director | 6.67yrs | CA$141.00k | no data | |
| Independent Director | 1.42yrs | CA$58.93k | no data | |
| Independent Director | 1.67yrs | CA$93.11k | no data |
4.9yrs
Average Tenure
66yo
Average Age
Experienced Board: IFP's board of directors are considered experienced (4.9 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: IFP insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Interfor Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Interfor Corporation
- Ticker: IFP
- Exchange: TSX
- Founded: 1963
- Industry: Forest Products
- Sector: Materials
- Market Cap: CA$1.506b
- Shares outstanding: 67.27m
- Website: https://www.interfor.com
Number of Employees
Location
- Interfor Corporation
- 1055 Dunsmuir Street
- Suite 3500
- Vancouver
- British Columbia
- V7X 1H7
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| IFP | TSX (The Toronto Stock Exchange) | Yes | Common Shares | CA | CAD | Jan 1976 |
| IFSP.F | OTCPK (Pink Sheets LLC) | Yes | Common Shares | US | USD | Jan 1976 |
| 8IF1 | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Jan 1976 |
Biography
Interfor Corporation, together with its subsidiaries, produces and sells wood products in Canada, the United States, Japan, China, Hong Knog, Taiwan, and internationally. It offers wooden products for appe...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/16 23:43 |
| End of Day Share Price | 2021/01/15 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.