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Intertape Polymer Group

TSX:ITP
Snowflake Description

Moderate growth potential second-rate dividend payer.

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

Intertape Polymer Group Inc., together with its subsidiaries, operates in the packaging industry in Canada, the United States, and internationally. The last earnings update was 5 days ago. More info.


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ITP Share Price and Events
7 Day Returns
-1.3%
TSX:ITP
0.1%
CA Packaging
0.7%
CA Market
1 Year Returns
-14.2%
TSX:ITP
-18.7%
CA Packaging
-0.1%
CA Market
ITP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Intertape Polymer Group (ITP) -1.3% -4.4% 15.3% -14.2% -2.2% 46.8%
CA Packaging 0.1% -9.9% 3.2% -18.7% 8.4% 116.4%
CA Market 0.7% 1.6% 11.5% -0.1% 15.4% 5%
1 Year Return vs Industry and Market
  • ITP outperformed the Packaging industry which returned -18.7% over the past year.
  • ITP underperformed the Market in Canada which returned -0.1% over the past year.
Price Volatility
ITP
Industry
5yr Volatility vs Market

ITP Value

 Is Intertape Polymer Group 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 Intertape Polymer Group 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    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Intertape Polymer Group.

TSX:ITP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9%
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:ITP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Packaging Unlevered Beta Simply Wall St/ S&P Global 0.87
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.867 (1 + (1- 26.5%) (63.06%))
1.18
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.18
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.18 * 5.96%)
8.98%

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

The calculations below outline how an intrinsic value for Intertape Polymer Group 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:ITP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.98%)
2019 70.00 Analyst x2 64.23
2020 74.65 Analyst x2 62.85
2021 78.44 Est @ 5.08% 60.60
2022 81.68 Est @ 4.14% 57.91
2023 84.53 Est @ 3.48% 54.99
2024 87.08 Est @ 3.02% 51.98
2025 89.43 Est @ 2.7% 48.98
2026 91.64 Est @ 2.47% 46.06
2027 93.76 Est @ 2.32% 43.24
2028 95.83 Est @ 2.2% 40.55
Present value of next 10 years cash flows $531.39
TSX:ITP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $95.83 × (1 + 1.95%) ÷ (8.98% – 1.95%)
$1,388.98
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,388.98 ÷ (1 + 8.98%)10
$587.77
TSX:ITP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $531.39 + $587.77
$1,119.16
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,119.16 / 58.65
$19.08
TSX:ITP Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:ITP)
1.334
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $19.08 x 1.334
CA$25.46
Value per share (CAD) From above. CA$25.46
Current discount Discount to share price of CA$18.04
= -1 x (CA$18.04 - CA$25.46) / CA$25.46
29.2%

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

Current Discount
Amount off the current price Intertape Polymer Group is available for.
Intrinsic value
29%
Share price is CA$18.04 vs Future cash flow value of CA$25.46
Current Discount Checks
For Intertape Polymer Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Intertape Polymer Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Intertape Polymer Group's share price is below the future cash flow value, but not 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 Intertape Polymer Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Intertape Polymer Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:ITP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.79
TSX:ITP Share Price ** TSX (2019-03-18) in CAD CA$18.04
TSX:ITP Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.749 $13.52
Canada Packaging Industry PE Ratio Median Figure of 6 Publicly-Listed Packaging Companies 17.86x
Canada Market PE Ratio Median Figure of 542 Publicly-Listed Companies 14.84x

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

** Primary Listing of Intertape Polymer Group.

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

= TSX:ITP Share Price ÷ EPS (both in USD)

= 13.52 ÷ 0.79

17.01x

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

  • Intertape Polymer Group is good value based on earnings compared to the CA Packaging industry average.
  • Intertape Polymer Group is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Intertape Polymer Group's expected growth come at a high price?
Raw Data
TSX:ITP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
Not available
North America Packaging Industry PEG Ratio Median Figure of 18 Publicly-Listed Packaging Companies 1.76x
Canada Market PEG Ratio Median Figure of 251 Publicly-Listed Companies 1.2x

*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 Intertape Polymer Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Intertape Polymer Group's assets?
Raw Data
TSX:ITP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $4.26
TSX:ITP Share Price * TSX (2019-03-18) in CAD CA$18.04
TSX:ITP Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.749 $13.52
Canada Packaging Industry PB Ratio Median Figure of 7 Publicly-Listed Packaging Companies 1.94x
Canada Market PB Ratio Median Figure of 2,348 Publicly-Listed Companies 1.57x
TSX:ITP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:ITP Share Price ÷ Book Value per Share (both in USD)

= 13.52 ÷ 4.26

3.17x

* Primary Listing of Intertape Polymer Group.

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

  • Intertape Polymer Group is overvalued based on assets compared to the CA Packaging industry average.
X
Value checks
We assess Intertape Polymer Group'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 Packaging 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 Packaging industry average (and greater than 0)? (1 check)
  5. Intertape Polymer Group has a total score of 2/6, 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.

ITP Future Performance

 How is Intertape Polymer Group expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

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
13.7%
Expected annual growth in earnings per share.
Earnings growth vs Low Risk Savings
Is Intertape Polymer Group expected to grow at an attractive rate?
  • Intertape Polymer Group's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Intertape Polymer Group's earnings growth is positive but not above the Canada market average.
  • Intertape Polymer Group's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:ITP Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:ITP Future Earnings per Share Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 13.7%
TSX:ITP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 8.1%
Canada Packaging Industry Earnings Growth Rate Market Cap Weighted Average 12.3%
Canada Packaging Industry Revenue Growth Rate Market Cap Weighted Average 4%
Canada Market Earnings Growth Rate Market Cap Weighted Average 17.9%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6.8%

*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:ITP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:ITP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,342 1
2020-12-31 1,258 134 7
2019-12-31 1,204 118 7
TSX:ITP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,053 91 47
2018-09-30 1,003 81 60
2018-06-30 967 90 67
2018-03-31 928 83 62
2017-12-31 898 92 64
2017-09-30 871 98 65
2017-06-30 834 94 52
2017-03-31 825 99 55
2016-12-31 809 108 51
2016-09-30 795 85 47
2016-06-30 789 99 56
2016-03-31 784 100 54

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Intertape Polymer Group's earnings are expected to grow by 13.7% yearly, however this is not considered high growth (20% yearly).
  • Intertape Polymer Group's revenue is expected to grow by 8.1% yearly, however this is not considered high growth (20% yearly).
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:ITP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Intertape Polymer Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:ITP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 1.04 1.04 1.04 1.00
2019-12-31 0.88 0.88 0.88 1.00
TSX:ITP Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.79
2018-09-30 1.02
2018-06-30 1.14
2018-03-31 1.05
2017-12-31 1.09
2017-09-30 1.09
2017-06-30 0.87
2017-03-31 0.94
2016-12-31 0.87
2016-09-30 0.80
2016-06-30 0.96
2016-03-31 0.92

*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.
  • Intertape Polymer Group is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Intertape Polymer Group'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.
Intertape Polymer Group has a total score of 3/6, 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.

ITP Past Performance

  How has Intertape Polymer Group 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 Intertape Polymer Group's growth in the last year to its industry (Packaging).
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.
  • Intertape Polymer Group's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Intertape Polymer Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Intertape Polymer Group's 1-year earnings growth is negative, it can't be compared to the CA Packaging industry average.
Earnings and Revenue History
Intertape Polymer Group'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 Intertape Polymer Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:ITP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,053.02 46.75 114.97 12.02
2018-09-30 1,002.77 59.78 117.15 12.27
2018-06-30 967.15 67.07 104.25 12.43
2018-03-31 928.24 62.12 104.14 11.84
2017-12-31 898.13 64.22 101.79 11.60
2017-09-30 870.63 64.59 94.84 11.94
2017-06-30 833.75 51.59 101.00 11.14
2017-03-31 825.11 55.05 100.17 11.23
2016-12-31 808.80 51.12 100.18 10.79
2016-09-30 794.57 46.93 97.87 10.32
2016-06-30 788.65 56.33 91.56 10.53
2016-03-31 783.71 54.42 88.43 9.94
2015-12-31 781.91 56.67 84.07 9.46
2015-09-30 786.98 45.24 81.57 9.06
2015-06-30 795.45 35.59 86.79 8.34
2015-03-31 801.79 35.96 85.10 7.87
2014-12-31 812.73 35.82 85.96 7.87
2014-09-30 803.47 83.38 81.66 7.53
2014-06-30 794.22 91.79 77.76 7.45
2014-03-31 784.75 94.80 77.40 7.37
2013-12-31 781.50 67.36 81.38 6.90
2013-09-30 779.30 19.42 83.26 6.42
2013-06-30 777.92 15.87 83.28 6.25
2013-03-31 782.21 -3.14 83.72 6.31
2012-12-31 784.43 20.38 79.14 6.23
2012-09-30 778.16 17.03 76.75 6.32
2012-06-30 781.04 9.01 76.08 6.53
2012-03-31 793.03 16.70 75.98 6.35

*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.
  • Intertape Polymer Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Intertape Polymer Group used its assets less efficiently than the CA Packaging industry average last year based on Return on Assets.
  • Intertape Polymer Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Intertape Polymer Group'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 Packaging 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.
Intertape Polymer Group has a total score of 0/6, 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.

ITP Health

 How is Intertape Polymer Group'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 Intertape Polymer Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Intertape Polymer Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Intertape Polymer Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Intertape Polymer Group'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 not covered by short term assets, assets are 0.7x 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 Intertape Polymer Group Company Filings, last reported 2 months ago.

TSX:ITP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 261.43 499.99 18.65
2018-09-30 263.76 501.60 12.64
2018-06-30 275.41 333.11 13.94
2018-03-31 258.72 323.92 5.08
2017-12-31 254.72 279.46 9.09
2017-09-30 248.46 322.23 20.78
2017-06-30 242.61 293.89 10.73
2017-03-31 237.58 205.35 4.11
2016-12-31 242.94 179.83 20.96
2016-09-30 234.03 207.65 5.64
2016-06-30 230.81 169.56 13.02
2016-03-31 222.10 172.56 14.27
2015-12-31 216.73 153.27 17.62
2015-09-30 208.28 159.15 14.08
2015-06-30 219.11 163.68 15.26
2015-03-31 214.65 160.26 24.28
2014-12-31 227.50 123.26 8.34
2014-09-30 235.42 141.32 7.08
2014-06-30 245.22 144.95 4.45
2014-03-31 234.02 149.12 5.77
2013-12-31 230.43 129.81 2.50
2013-09-30 162.23 137.70 5.95
2013-06-30 149.98 157.32 9.82
2013-03-31 133.17 149.82 5.80
2012-12-31 153.83 151.30 5.89
2012-09-30 150.77 167.00 5.18
2012-06-30 141.72 188.54 6.90
2012-03-31 147.87 199.08 5.19
  • Intertape Polymer Group's level of debt (191.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (56.4% vs 191.3% today).
  • Debt is not well covered by operating cash flow (18.2%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.4x coverage).
X
Financial health checks
We assess Intertape Polymer Group'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. Intertape Polymer Group has a total score of 2/6, 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.

ITP Dividends

 What is Intertape Polymer Group'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
4.14%
Current annual income from Intertape Polymer Group dividends. Estimated to be 4.14% next year.
If you bought CA$2,000 of Intertape Polymer Group shares you are expected to receive CA$83 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?
  • Intertape Polymer Group's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.09%).
  • Intertape Polymer Group's dividend is below the markets top 25% of dividend payers in Canada (5.65%).
Upcoming dividend payment

Purchase Intertape Polymer Group on or before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:ITP 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 7 Analyst Estimates (S&P Global) See Below
North America Packaging Industry Average Dividend Yield Market Cap Weighted Average of 17 Stocks 2.5%
Canada Market Average Dividend Yield Market Cap Weighted Average of 331 Stocks 3.6%
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 5.6%

Industry and Market average data is calculated daily.

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

TSX:ITP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31 0.56 2.00
2019-12-31 0.56 2.00
TSX:ITP Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-13 0.560 4.006
2018-11-08 0.560 4.170
2018-08-13 0.560 3.952
2018-05-10 0.560 4.052
2018-03-08 0.560 3.564
2017-11-13 0.560 3.362
2017-08-11 0.560 3.673
2017-05-09 0.560 3.053
2017-03-09 0.560 3.243
2016-11-11 0.560 3.111
2016-08-11 0.560 3.285
2016-05-10 0.520 3.318
2016-03-10 0.520 3.541
2015-11-12 0.520 4.127
2015-08-13 0.520 4.693
2015-05-12 0.480 3.174
2015-03-10 0.480 3.396
2014-08-06 0.480 3.232
2014-07-07 0.480 3.768
2014-05-08 0.320 2.825
2014-02-07 0.320 2.814
2013-11-13 0.320 2.605
2013-08-14 0.320 2.251
2013-03-07 0.160 1.415
2012-11-07 0.155 1.884
2012-08-15 0.160 2.305

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

  • Whilst dividend payments have been stable, Intertape Polymer Group has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Intertape Polymer Group only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of Intertape Polymer Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess Intertape Polymer Group'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 Intertape Polymer Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Intertape Polymer Group has a total score of 3/6, see the detailed checks below.


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

ITP Management

 What is the CEO of Intertape Polymer Group'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
Greg Yull
COMPENSATION $2,885,314
AGE 51
TENURE AS CEO 8.8 years
CEO Bio

Mr. Gregory A. C. Yull, also known as Greg, has been the Chief Executive Officer and President of Intertape Polymer Group Inc. (IPG) since June 8, 2010. Mr. Yull served as the President of Tapes & Films of Intertape Polymer Group Inc. from October 2005 to June 2010, where he was responsible for the North American and European operations spanning 15 locations and providing leadership for a 1500 person workforce. He served as the President of Distribution Products at Intertape Polymer Group Inc. since October 2005 and served as its President of Film Products since June 1999 and served as its Products Manager of Films since 1995. He served as an Executive Vice President of Industrial Business Unit at Intertape Polymer Group Inc. since November 2004. He has held various positions at Intertape in Sales and Product Management and has extensive functional responsibilities supporting the Fibope business division. Mr. Yull has been a Non-Independent of Intertape Polymer Group Inc. since August 2, 2010 and previously served as its Executive Director.

CEO Compensation
  • Greg's compensation has been consistent with company performance over the past year.
  • Greg's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Intertape Polymer Group management team in years:

8.5
Average Tenure
  • The average tenure for the Intertape Polymer Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Greg Yull

TITLE
CEO, President & Non-Independent Director
COMPENSATION
$3M
AGE
51
TENURE
8.8 yrs

Melbourne Yull

TITLE
Founder & Director
COMPENSATION
$134K
AGE
77
TENURE
38.2 yrs

Jeffrey Crystal

TITLE
Chief Financial Officer
COMPENSATION
$1M
TENURE
4.8 yrs

Doug Nalette

TITLE
Senior Vice President of Operations
COMPENSATION
$718K
TENURE
13.2 yrs

Shawn Nelson

TITLE
Senior Vice President of Sales
COMPENSATION
$694K
TENURE
9.2 yrs

Joe Tocci

TITLE
Senior Vice President of Global Sourcing & Supply Chain
COMPENSATION
$648K
TENURE
8.2 yrs

Randi Booth

TITLE
Senior Vice President
TENURE
1.3 yrs

Mary Thompson

TITLE
Vice President Human Resources
TENURE
2.2 yrs
Board of Directors Tenure

Average tenure and age of the Intertape Polymer Group board of directors in years:

8.6
Average Tenure
71
Average Age
  • The tenure for the Intertape Polymer Group board of directors is about average.
Board of Directors

Jim Pantelidis

TITLE
Chairman of the Board
COMPENSATION
$133K
AGE
72
TENURE
0.8 yrs

Greg Yull

TITLE
CEO, President & Non-Independent Director
COMPENSATION
$3M
AGE
51
TENURE
8.6 yrs

Melbourne Yull

TITLE
Founder & Director
COMPENSATION
$134K
AGE
77
TENURE
11.8 yrs

Bob Beil

TITLE
Independent Director
COMPENSATION
$140K
AGE
65
TENURE
11.5 yrs

Frank Di Tomaso

TITLE
Director
COMPENSATION
$145K
AGE
71
TENURE
4.6 yrs

Robert Foster

TITLE
Lead Director
COMPENSATION
$145K
AGE
75

Jorge Quintas

TITLE
Independent Director
COMPENSATION
$132K
AGE
71
TENURE
9.8 yrs

Mary Salomone

TITLE
Independent Director
COMPENSATION
$140K
AGE
58
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Intertape Polymer Group insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
01. Jan 19 Buy James Pantelidis Individual 27. Dec 18 27. Dec 18 560 CA$16.61 CA$9,302
19. Dec 18 Buy EMA Partners International Company 14. Dec 18 14. Dec 18 1,000 CA$15.88 CA$15,880
20. Dec 18 Buy Jorge Quintas Individual 17. Dec 18 17. Dec 18 7,500 CA$14.80 CA$111,000
18. Dec 18 Buy James Pantelidis Individual 14. Dec 18 17. Dec 18 4,500 CA$15.74 CA$69,206
17. Dec 18 Buy James Pantelidis Individual 14. Dec 18 14. Dec 18 500 CA$15.49 CA$7,745
13. Dec 18 Buy James Pantelidis Individual 12. Dec 18 12. Dec 18 5,000 CA$16.59 CA$82,950
13. Dec 18 Sell Melbourne Yull Individual 11. Dec 18 11. Dec 18 -600 CA$16.61 CA$-9,964
17. May 18 Buy James Pantelidis Individual 15. May 18 15. May 18 4,000 CA$18.20 CA$72,813
27. Mar 18 Sell Sammana Group INC. Company 23. Mar 18 26. Mar 18 -33,700 CA$20.44 CA$-688,218
22. Mar 18 Sell Sammana Group INC. Company 21. Mar 18 22. Mar 18 -15,700 CA$20.70 CA$-324,391
X
Management checks
We assess Intertape Polymer Group'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. Intertape Polymer Group 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.

ITP News

Simply Wall St News

Update: Intertape Polymer Group Stock Gained 39% In The Last Five Years

One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … Over half a decade, Intertape Polymer Group managed to grow its earnings per share at 26% a year. … This free interactive report on Intertape Polymer Group's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.

Simply Wall St -

Should You Be Concerned About Intertape Polymer Group Inc.'s (TSE:ITP) Historical Volatility?

(TSE:ITP), 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. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

Is There Now An Opportunity In Intertape Polymer Group Inc. (TSE:ITP)?

led the TSX gainers with a relatively large price hike in the past couple of weeks. … With many analysts covering the stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Today I will analyse the most recent data on Intertape Polymer Group’s outlook and valuation to see if the opportunity still exists.

Simply Wall St -

Here's What Intertape Polymer Group Inc.'s (TSE:ITP) P/E Ratio Is Telling Us

We'll show how you can use Intertape Polymer Group Inc.'s (TSE:ITP) P/E ratio to inform your assessment of the investment opportunity. … Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS) … P/E of 13.79 = $14.02 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $1.02

Simply Wall St -

A Look At The Intrinsic Value Of Intertape Polymer Group Inc. (TSE:ITP)

by taking the expected future cash flows and discounting them to today's value. … discounted cash flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Should You Worry About Intertape Polymer Group Inc.’s (TSE:ITP) ROCE?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its 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 -

Should You Be Worried About Insider Transactions At Intertape Polymer Group Inc (TSE:ITP)?

So we'll take a look at whether insiders have been buying or selling shares in Intertape Polymer Group Inc (TSE:ITP). … Intertape Polymer Group Insider Transactions Over The Last Year. … Over the last year we saw more insider selling of Intertape Polymer Group shares, than buying

Simply Wall St -

Is Intertape Polymer Group Inc (TSE:ITP) A Smart Choice For Dividend Investors?

Historically, Intertape Polymer Group Inc (TSE:ITP) has been paying a dividend to shareholders. … Let's dig deeper into whether Intertape Polymer Group should have a place in your portfolio. … Check out our latest analysis for Intertape Polymer Group

Simply Wall St -

Can Intertape Polymer Group Inc's (TSE:ITP) ROE Continue To Surpass The Industry Average?

Over the last twelve months Intertape Polymer Group has recorded a ROE of 24%. … That means that for every CA$1 worth of shareholders' equity, it generated CA$0.24 in profit. … Check out our latest analysis for Intertape Polymer Group?

Simply Wall St -

Is Intertape Polymer Group Inc's (TSE:ITP) Stock Available For A Good Price After Accounting For Growth?

Growth expectations for Intertape Polymer Group Inc (TSE:ITP) are high, but many investors are starting to ask whether its last close at CA$17.69 can still be rationalized by the future potential. … Check out our latest analysis for Intertape Polymer Group? … According to the analysts covering the company, the following few years should bring about good growth prospects for Intertape Polymer Group

Simply Wall St -

ITP Company Info

Description

Intertape Polymer Group Inc., together with its subsidiaries, operates in the packaging industry in Canada, the United States, and internationally. It develops, manufactures, and sells various paper and film based pressure sensitive and water activated tapes, polyethylene and specialized polyolefin films, woven coated fabrics, and complementary packaging systems for industrial and retail use. The company offers taping solutions comprise hot melt carton sealing, double-coated, filament and mop, foil, flat back, duct, electronic/electrical, natural rubber carton sealing, masking, polyethylene, water-activated, and acrylic carton sealing tapes, as well as reinforced filament and reinforced filament tapes. It also provides flexible intermediate bulk containers; membrane structure and geomembrane fabrics; stretch and shrink films; tape dispensers; fabrics; stencils; air pillows; house wraps/flashings; retail and specialty products; lumber wraps; carton sealing machines; and roof underlayment. It provides market solutions to the aerospace, automotive, industrial, and building and construction applications. In addition, the company engages in financing business. It sells its products to a range of industry/specialty distributors, retail stores, and end-users in various industries. Intertape Polymer Group Inc. was founded in 1981 and is headquartered in Montreal, Canada.

Details
Name: Intertape Polymer Group Inc.
ITP
Exchange: TSX
Founded: 1981
CA$1,058,051,574
58,650,309
Website: http://www.itape.com
Address: Intertape Polymer Group Inc.
9999 Cavendish Boulevard,
2nd Floor,
Montreal,
Quebec, H4M 2X5,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX ITP Common Shares The Toronto Stock Exchange CA CAD 14. Feb 1992
OTCPK ITPO.F Common Shares Pink Sheets LLC US USD 14. Feb 1992
DB 2NI Common Shares Deutsche Boerse AG DE EUR 14. Feb 1992
Number of employees
Current staff
Staff numbers
0
Intertape Polymer Group employees.
Industry
Metal and Glass Containers
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/18 23:37
End of day share price update: 2019/03/18 00:00
Last estimates confirmation: 2019/03/14
Last earnings filing: 2019/03/13
Last earnings reported: 2018/12/31
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.