TSX:ITP

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Intertape Polymer Group

Executive Summary

Intertape Polymer Group Inc., together with its subsidiaries, provides packaging and protective solutions in Canada, Germany, the United States, and internationally. More Details


Snowflake Analysis

Good value with acceptable track record.


Similar Companies

Share Price & News

How has Intertape Polymer Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ITP has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

4.1%

ITP

2.6%

CA Packaging

0.07%

CA Market


1 Year Return

-3.0%

ITP

6.2%

CA Packaging

-3.6%

CA Market

Return vs Industry: ITP underperformed the Canadian Packaging industry which returned 6.3% over the past year.

Return vs Market: ITP matched the Canadian Market which returned -3.9% over the past year.


Shareholder returns

ITPIndustryMarket
7 Day4.1%2.6%0.07%
30 Day14.3%6.5%2.1%
90 Day1.2%14.5%1.8%
1 Year3.7%-3.0%8.0%6.2%-0.09%-3.6%
3 Year-2.1%-15.4%-7.0%-10.5%3.7%-6.1%
5 Year34.7%8.8%52.3%43.7%31.1%11.6%

Price Volatility Vs. Market

How volatile is Intertape Polymer Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Intertape Polymer Group undervalued compared to its fair value and its price relative to the market?

46.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ITP (CA$16.41) is trading below our estimate of fair value (CA$30.47)

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


Price To Earnings Ratio

PE vs Industry: ITP is good value based on its PE Ratio (13.8x) compared to the CA Packaging industry average (19.9x).

PE vs Market: ITP is good value based on its PE Ratio (13.8x) compared to the Canadian market (16.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ITP's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ITP is overvalued based on its PB Ratio (2.8x) compared to the CA Packaging industry average (2x).


Next Steps

Future Growth

How is Intertape Polymer Group forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

3.4%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if ITP's forecast earnings growth is above the savings rate (1.7%).

Earnings vs Market: Insufficient data to determine if ITP's earnings are forecast to grow faster than the Canadian market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ITP's revenue (3.4% per year) is forecast to grow slower than the Canadian market (5.8% per year).

High Growth Revenue: ITP's revenue (3.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ITP's Return on Equity is forecast to be high in 3 years time (23%)


Next Steps

Past Performance

How has Intertape Polymer Group performed over the past 5 years?

-1.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ITP has high quality earnings.

Growing Profit Margin: ITP's current net profit margins (4.7%) are higher than last year (3.3%).


Past Earnings Growth Analysis

Earnings Trend: ITP's earnings have declined by 1.5% per year over the past 5 years.

Accelerating Growth: ITP's earnings growth over the past year (42.4%) exceeds its 5-year average (-1.5% per year).

Earnings vs Industry: ITP earnings growth over the past year (42.4%) underperformed the Packaging industry 42.4%.


Return on Equity

High ROE: ITP's Return on Equity (19.8%) is considered low.


Next Steps

Financial Health

How is Intertape Polymer Group's financial position?


Financial Position Analysis

Short Term Liabilities: ITP's short term assets ($373.0M) exceed its short term liabilities ($156.7M).

Long Term Liabilities: ITP's short term assets ($373.0M) do not cover its long term liabilities ($646.6M).


Debt to Equity History and Analysis

Debt Level: ITP's debt to equity ratio (198.8%) is considered high.

Reducing Debt: ITP's debt to equity ratio has increased from 74.7% to 198.8% over the past 5 years.

Debt Coverage: ITP's debt is well covered by operating cash flow (27.2%).

Interest Coverage: ITP's interest payments on its debt are well covered by EBIT (3.1x coverage).


Balance Sheet


Next Steps

Dividend

What is Intertape Polymer Group current dividend yield, its reliability and sustainability?

4.73%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ITP's dividend (4.73%) is higher than the bottom 25% of dividend payers in the Canadian market (1.66%).

High Dividend: ITP's dividend (4.73%) is low compared to the top 25% of dividend payers in the Canadian market (5.83%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, ITP has been paying a dividend for less than 10 years.

Growing Dividend: ITP's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (65.4%), ITP's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ITP's dividends in 3 years are forecast to be covered by earnings (51% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

10.5yrs

Average management tenure


CEO

Greg Yull (53 yo)

10.33yrs

Tenure

US$3,845,215

Compensation

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 ...


CEO Compensation Analysis

Compensation vs Market: Greg's total compensation ($USD3.85M) is above average for companies of similar size in the Canadian market ($USD1.30M).

Compensation vs Earnings: Greg's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Gregory A. Yull
CEO, President & Non-Independent Director10.33yrsUS$3.85m1.23%
$ 12.0m
Melbourne Yull
Founder & Director13.33yrsUS$161.50k0.58%
$ 5.6m
Jeffrey Crystal
Chief Financial Officer6.42yrsUS$1.37m0.062%
$ 604.9k
Douglas Nalette
Senior Vice President of Operations14.75yrsUS$891.90k0.23%
$ 2.2m
Shawn Nelson
Senior Vice President of Sales10.75yrsUS$847.88k0.24%
$ 2.3m
Joseph Tocci
Senior Vice President of Global Sourcing & Supply Chain12.75yrsUS$820.45k0.11%
$ 1.1m
Randi Booth
Senior Vice President2.83yrsno data0.012%
$ 120.7k
Mary Thompson
Senior Vice President of Human Resources3.75yrsno datano data
Jai Sundararaman
Vice President of business transformationno datano datano data
Dave Bennett
Vice President of Operationsno datano datano data

10.5yrs

Average Tenure

Experienced Management: ITP's management team is seasoned and experienced (10.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Gregory A. Yull
CEO, President & Non-Independent Director10.33yrsUS$3.85m1.23%
$ 12.0m
Melbourne Yull
Founder & Director13.33yrsUS$161.50k0.58%
$ 5.6m
Robert Foster
Independent Lead Directorno dataUS$172.50k0.10%
$ 986.3k
James Pantelidis
Independent Chairman of the Board2.33yrsUS$229.00k0.096%
$ 927.3k
Dahra Granovsky
Independent Director1.33yrsUS$134.80k0.012%
$ 113.7k
Jorge Quintas
Independent Director11.33yrsUS$159.50k0.10%
$ 978.1k
Robert Beil
Independent Director13.08yrsUS$170.00k0.074%
$ 720.2k
Christopher Cawston
Independent Directorno datano datano data
Mary Salomone
Independent Director4.92yrsUS$167.50kno data
Frank Di Tomaso
Independent Director6.17yrsUS$175.00k0.017%
$ 164.1k
Jane Craighead
Independent Directorno datano data0.0051%
$ 49.2k

8.2yrs

Average Tenure

70yo

Average Age

Experienced Board: ITP's board of directors are considered experienced (8.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if 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

Intertape Polymer Group Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Intertape Polymer Group Inc.
  • Ticker: ITP
  • Exchange: TSX
  • Founded: 1981
  • Industry: Metal and Glass Containers
  • Sector: Materials
  • Market Cap: CA$968.349m
  • Shares outstanding: 59.01m
  • Website: https://www.itape.com

Number of Employees


Location

  • Intertape Polymer Group Inc.
  • 9999 Cavendish Boulevard
  • Suite 200
  • Montreal
  • Quebec
  • H4M 2X5
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ITPO.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDFeb 1992
ITPTSX (The Toronto Stock Exchange)YesCommon SharesCACADFeb 1992
2NIDB (Deutsche Boerse AG)YesCommon SharesDEEURFeb 1992

Biography

Intertape Polymer Group Inc., together with its subsidiaries, provides packaging and protective solutions in Canada, Germany, the United States, and internationally. Its paper and film based tapes include ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/26 00:56
End of Day Share Price2020/10/23 00:00
Earnings2020/06/30
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.