TSX:IFP

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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


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

IFPIndustryMarket
7 Day-6.7%-4.2%-0.5%
30 Day-6.5%-5.6%2.9%
90 Day53.3%26.4%12.2%
1 Year42.2%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 Year104.8%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

Valuation

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

  • Explore strong past performing companies in the Materials industry.

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

NamePositionTenureCompensationOwnership
Ian Fillinger
President1yrCA$1.04m0.080%
CA$ 1.2m
J. Bender
Senior Vice President of Sales & Marketing5.75yrsCA$893.83k0.046%
CA$ 693.9k
Mark Stock
Senior Vice President of Human Resources & IT2.92yrsCA$699.67k0.013%
CA$ 194.7k
Richard Pozzebon
Senior VP & CFO0.42yrno data0.021%
CA$ 321.1k
Xenia Kritsos
General Counsel & Corporate Secretary5.33yrsno data0.012%
CA$ 178.7k
Richard Slaco
VP & Chief Forester19yrsno datano data

4.1yrs

Average Tenure

48yo

Average Age

Experienced Management: IFP's management team is considered experienced (4.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Ian Fillinger
President1yrCA$1.04m0.080%
CA$ 1.2m
Thomas Milroy
Independent Director4.92yrsCA$147.00k0.022%
CA$ 335.8k
Curtis Stevens
Independent Director2.67yrsCA$132.00kno data
J. McMillan
Independent Director14.25yrsCA$133.00kno data
Douglas William Whitehead
Independent Director13.75yrsCA$126.00k0.033%
CA$ 492.3k
Gordon MacDougall
Independent Director13.92yrsCA$137.00k0.022%
CA$ 335.8k
E. Sauder
Independent Chairman of the Board13yrsCA$252.00k0.51%
CA$ 7.7m
Gillian Platt
Independent Director4.25yrsCA$141.00kno data
Jeane Hull
Independent Director6.67yrsCA$141.00kno data
Christopher Griffin
Independent Director1.42yrsCA$58.93kno data
Rhonda Hunter
Independent Director1.67yrsCA$93.11kno 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IFPTSX (The Toronto Stock Exchange)YesCommon SharesCACADJan 1976
IFSP.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJan 1976
8IF1DB (Deutsche Boerse AG)YesCommon SharesDEEURJan 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/16 23:43
End of Day Share Price2021/01/15 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.