Executive Summary
Quebecor Inc., through its subsidiaries, operates in the telecommunications, media, and sports and entertainment businesses in Canada.
Rewards
Risk Analysis
Snowflake Analysis
Acceptable track record second-rate dividend payer.
Similar Companies
Share Price & News
How has Quebecor's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: QBR.B has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-0.1%
QBR.B
1.0%
CA Media
2.1%
CA Market
1 Year Return
-6.4%
QBR.B
-9.9%
CA Media
-21.2%
CA Market
Return vs Industry: QBR.B exceeded the Canadian Media industry which returned -15% over the past year.
Return vs Market: QBR.B exceeded the Canadian Market which returned -22.9% over the past year.
Shareholder returns
| QBR.B | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.1% | 1.0% | 2.1% |
| 30 Day | -0.07% | -6.4% | -13.8% |
| 90 Day | -7.1% | -14.0% | -21.9% |
| 1 Year | -4.8%-6.4% | -6.9%-9.9% | -18.6%-21.2% |
| 3 Year | 50.9%46.5% | 6.7%-5.4% | -11.0%-19.3% |
| 5 Year | 89.4%82.2% | 15.4%-7.0% | 1.6%-13.6% |
Price Volatility Vs. Market
How volatile is Quebecor's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Quebecor Inc. (TSE:QBR.B) Looks Interesting, And It's About To Pay A Dividend3 weeks ago | Simply Wall St
Should You Be Excited About Quebecor Inc.'s (TSE:QBR.B) 52% Return On Equity?1 month ago | Simply Wall St
Quebecor Inc. (TSE:QBR.B) Is Employing Capital Very EffectivelyValuation
Is Quebecor undervalued compared to its fair value and its price relative to the market?
24.8%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: QBR.B (CA$30.41) is trading below our estimate of fair value (CA$40.42)
Significantly Below Fair Value: QBR.B is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: QBR.B is poor value based on its PE Ratio (14.2x) compared to the Media industry average (6.8x).
PE vs Market: QBR.B is poor value based on its PE Ratio (14.2x) compared to the Canadian market (10.5x).
Price to Earnings Growth Ratio
PEG Ratio: QBR.B is poor value based on its PEG Ratio (3x)
Price to Book Ratio
PB vs Industry: QBR.B is overvalued based on its PB Ratio (8.1x) compared to the CA Media industry average (0.6x).
Next Steps
Future Growth
How is Quebecor forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?
4.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: QBR.B's forecast earnings growth (4.7% per year) is above the savings rate (1.4%).
Earnings vs Market: QBR.B's earnings (4.7% per year) are forecast to grow slower than the Canadian market (5.2% per year).
High Growth Earnings: QBR.B's earnings are forecast to grow, but not significantly.
Revenue vs Market: QBR.B's revenue (1% per year) is forecast to grow slower than the Canadian market (3.3% per year).
High Growth Revenue: QBR.B's revenue (1% 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 QBR.B's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Quebecor performed over the past 5 years?
39.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: QBR.B has high quality earnings.
Growing Profit Margin: QBR.B's current net profit margins (12.9%) are higher than last year (9.6%).
Past Earnings Growth Analysis
Earnings Trend: QBR.B's earnings have grown significantly by 39.3% per year over the past 5 years.
Accelerating Growth: QBR.B's earnings growth over the past year (38.9%) is below its 5-year average (39.3% per year).
Earnings vs Industry: QBR.B earnings growth over the past year (38.9%) underperformed the Media industry 81.7%.
Return on Equity
High ROE: Whilst QBR.B's Return on Equity (52.31%) is outstanding, this metric is skewed due to their high level of debt.
Next Steps
Financial Health
How is Quebecor's financial position?
Financial Position Analysis
Short Term Liabilities: QBR.B's short term assets (CA$1.1B) do not cover its short term liabilities (CA$1.3B).
Long Term Liabilities: QBR.B's short term assets (CA$1.1B) do not cover its long term liabilities (CA$7.4B).
Debt to Equity History and Analysis
Debt Level: QBR.B's debt to equity ratio (572.4%) is considered high.
Reducing Debt: QBR.B's debt to equity ratio has increased from 544.1% to 572.4% over the past 5 years.
Debt Coverage: QBR.B's debt is not well covered by operating cash flow (19.7%).
Interest Coverage: QBR.B's interest payments on its debt are well covered by EBIT (3.5x coverage).
Balance Sheet
Next Steps
Dividend
What is Quebecor's current dividend yield, its reliability and sustainability?
2.59%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: QBR.B's dividend (2.59%) isn’t notable compared to the bottom 25% of dividend payers in the Canadian market (2.68%).
High Dividend: QBR.B's dividend (2.59%) is low compared to the top 25% of dividend payers in the Canadian market (8.42%).
Stability and Growth of Payments
Stable Dividend: QBR.B's dividends per share have been stable in the past 10 years.
Growing Dividend: QBR.B's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (18.1%), QBR.B's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.6yrs
Average management tenure
CEO
Pierre Péladeau (57yo)
3.17s
Tenure
CA$2,568,930
Compensation
Mr. Pierre Karl Péladeau has been the Chief Executive Officer and President of Quebecor Inc., and Quebecor Media Inc., since February 16, 2017. Previously, Mr. Péladeau served as the Chief Executive Office ...
CEO Compensation Analysis
Compensation vs Market: Pierre's total compensation ($USD1.84M) is below average for companies of similar size in the Canadian market ($USD3.14M).
Compensation vs Earnings: Pierre's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & President | 3.17yrs | CA$2.57m | 0.78% CA$60.5m | |
| COO & Chief Legal Officer | 1.25yrs | CA$1.48m | 0.026% CA$2.0m | |
| President & CEO of TVA Group and Chief Content Officer of Quebecor Content | 2.5yrs | CA$1.36m | no data | |
| Chief Financial Officer | 1.25yrs | no data | no data | |
| Vice President of Public Affairs & Communications | no data | no data | no data | |
| Chairman of Quebecor-Ontario Media Advisory Board | 14.67yrs | no data | no data | |
| Senior Vice President of Newspapers | no data | no data | 0.00014% CA$10.9k | |
| Chief Operating Officer of Sports & Entertainment Group | 2.67yrs | no data | no data | |
| VP & Corporate Controller | no data | no data | no data | |
| President of Le SuperClub Vidéotron ltée and President of Music & Retail Group of Quebecor Media Inc | no data | no data | no data |
2.6yrs
Average Tenure
57yo
Average Age
Experienced Management: QBR.B's management team is considered experienced (2.6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman of the Board | 5.83yrs | CA$523.89k | 0.0016% CA$122.6k | |
| Non-Independent Director | 4.75yrs | CA$874.04k | 0.00024% CA$18.6k | |
| Non-Independent Director | 5.83yrs | CA$119.60k | 0.013% CA$1.0m | |
| Independent Director | 6.92yrs | CA$162.34k | no data | |
| Corporate Director | 1.92yrs | CA$87.67k | 0.00039% CA$30.3k | |
| Vice Chair of the Board & Lead Director | no data | CA$312.93k | 0.0016% CA$122.6k | |
| Independent Director | 3.92yrs | CA$157.70k | no data | |
| Corporate Director | 0.83yr | no data | no data | |
| Director | 0.083yr | no data | no data |
4.3yrs
Average Tenure
64yo
Average Age
Experienced Board: QBR.B's board of directors are considered experienced (4.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: QBR.B insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6.8%.
Top Shareholders
Company Information
Quebecor Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Quebecor Inc.
- Ticker: QBR.B
- Exchange: TSX
- Founded: 1965
- Industry: Cable and Satellite
- Sector: Media
- Market Cap: CA$7.758b
- Shares outstanding: 253.85m
- Website: https://www.quebecor.com
Number of Employees
Location
- Quebecor Inc.
- 612 rue Saint-Jacques
- Montreal
- Quebec
- H3C 4M8
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| QBR.A | TSX (The Toronto Stock Exchange) | Yes | Class A Multiple Voting Shares | CA | CAD | Dec 1972 |
| QBCA.F | OTCPK (Pink Sheets LLC) | Yes | Class A Multiple Voting Shares | US | USD | Dec 1972 |
| QBR.B | TSX (The Toronto Stock Exchange) | Class B Subordinate Voting Shares | CA | CAD | Oct 1986 | |
| QBCR.F | OTCPK (Pink Sheets LLC) | Class B Subordinate Voting Shares | US | USD | Oct 1986 | |
| QB3 | DB (Deutsche Boerse AG) | Class B Subordinate Voting Shares | DE | EUR | Oct 1986 |
Biography
Quebecor Inc., through its subsidiaries, operates in the telecommunications, media, and sports and entertainment businesses in Canada. Its Telecommunications segment offers television distribution, Internet access, business solutions, cable and mobile telephony, and over-the-top video services; and engages in the rental of movies and televisual products through its video-on-demand service and video rental stores. The company’s Media segment operates an over-the-air television network and offers specialty television services; provides soundstage and equipment leasing, and post-production services for the film and television industries; prints, publishes, and distributes daily newspapers; operates Internet portals and specialized Web sites; publishes and distributes magazines; rents and distributes video games and game consoles; produces and distributes audiovisual content; and operates an out-of-home advertising business. Its Sports and Entertainment segment engages in the operation and management of the Videotron Centre in Québec City, as well as show production, sporting, and cultural events management; publishing and distribution of books; distribution and production of music; and operation of two Quebec Junior Hockey League teams. Quebecor Inc. was founded in 1965 and is headquartered in Montreal, Canada.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/08 02:56 |
| End of Day Share Price | 2020/04/07 00:00 |
| Earnings | 2019/12/31 |
| 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.