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Veritiv

NYSE:VRTV
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VRTV
NYSE
$268M
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. The last earnings update was 70 days ago. More info.


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  • Veritiv has significant price volatility in the past 3 months.
VRTV Share Price and Events
7 Day Returns
-4.7%
NYSE:VRTV
1.3%
US Trade Distributors
0.6%
US Market
1 Year Returns
-58.9%
NYSE:VRTV
-8.2%
US Trade Distributors
4.1%
US Market
VRTV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Veritiv (VRTV) -4.7% -13.4% -39.8% -58.9% -60.2% -56.8%
US Trade Distributors 1.3% 3.1% -3.6% -8.2% 31% 11%
US Market 0.6% 3.8% 2.8% 4.1% 37.3% 42.5%
1 Year Return vs Industry and Market
  • VRTV underperformed the Trade Distributors industry which returned -8.2% over the past year.
  • VRTV underperformed the Market in United States of America which returned 4.1% over the past year.
Price Volatility
VRTV
Industry
5yr Volatility vs Market

VRTV Value

 Is Veritiv 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 Veritiv 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

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

NYSE:VRTV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 NYSE:VRTV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Trade Distributors Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.925 (1 + (1- 21%) (523.41%))
3.512
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (2 * 5.96%)
14.65%

Discounted Cash Flow Calculation for NYSE:VRTV using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Veritiv 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.

NYSE:VRTV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 14.65%)
2020 94.50 Analyst x1 82.42
2021 102.42 Est @ 8.38% 77.92
2022 109.26 Est @ 6.68% 72.50
2023 115.27 Est @ 5.5% 66.71
2024 120.65 Est @ 4.67% 60.90
2025 125.58 Est @ 4.09% 55.29
2026 130.20 Est @ 3.68% 50.00
2027 134.62 Est @ 3.39% 45.09
2028 138.92 Est @ 3.2% 40.59
2029 143.16 Est @ 3.06% 36.48
Present value of next 10 years cash flows $587.91
NYSE:VRTV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $143.16 × (1 + 2.73%) ÷ (14.65% – 2.73%)
$1,233.81
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,233.81 ÷ (1 + 14.65%)10
$314.42
NYSE:VRTV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $587.91 + $314.42
$902.33
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $902.33 / 16.08
$56.13
NYSE:VRTV Discount to Share Price
Calculation Result
Value per share (USD) From above. $56.13
Current discount Discount to share price of $16.69
= -1 x ($16.69 - $56.13) / $56.13
70.3%

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

Current Discount
Amount off the current price Veritiv is available for.
Intrinsic value
>50%
Share price is $16.69 vs Future cash flow value of $56.13
Current Discount Checks
For Veritiv to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Veritiv's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Veritiv's share price is below the future cash flow value, and 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 Veritiv's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Veritiv's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:VRTV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-1.68
NYSE:VRTV Share Price ** NYSE (2019-07-17) in USD $16.69
United States of America Trade Distributors Industry PE Ratio Median Figure of 42 Publicly-Listed Trade Distributors Companies 17.35x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.98x

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

** Primary Listing of Veritiv.

NYSE:VRTV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:VRTV Share Price ÷ EPS (both in USD)

= 16.69 ÷ -1.68

-9.95x

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

  • Veritiv is loss making, we can't compare its value to the US Trade Distributors industry average.
  • Veritiv is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Veritiv's expected growth come at a high price?
Raw Data
NYSE:VRTV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -9.95x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
157%per year
United States of America Trade Distributors Industry PEG Ratio Median Figure of 33 Publicly-Listed Trade Distributors Companies 1.15x
United States of America Market PEG Ratio Median Figure of 2,122 Publicly-Listed Companies 1.59x

*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 Veritiv, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Veritiv's assets?
Raw Data
NYSE:VRTV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $32.52
NYSE:VRTV Share Price * NYSE (2019-07-17) in USD $16.69
United States of America Trade Distributors Industry PB Ratio Median Figure of 53 Publicly-Listed Trade Distributors Companies 1.63x
United States of America Market PB Ratio Median Figure of 5,241 Publicly-Listed Companies 1.81x
NYSE:VRTV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:VRTV Share Price ÷ Book Value per Share (both in USD)

= 16.69 ÷ 32.52

0.51x

* Primary Listing of Veritiv.

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

  • Veritiv is good value based on assets compared to the US Trade Distributors industry average.
X
Value checks
We assess Veritiv'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 Trade Distributors 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 Trade Distributors industry average (and greater than 0)? (1 check)
  5. Veritiv has a total score of 3/6, 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.

VRTV Future Performance

 How is Veritiv expected to perform in the next 1 to 3 years based on estimates from 2 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
157%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Veritiv expected to grow at an attractive rate?
  • Veritiv's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Veritiv's earnings growth is expected to exceed the United States of America market average.
  • Veritiv's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:VRTV Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:VRTV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 157%
NYSE:VRTV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -0.3%
United States of America Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 15.1%
United States of America Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 4.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*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
NYSE:VRTV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:VRTV Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 8,460 151 35 2
2019-12-31 8,430 148 -10 2
NYSE:VRTV Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 8,537 81 -27
2018-12-31 8,696 15 -16
2018-09-30 8,690 62 -13
2018-06-30 8,614 49 -28
2018-03-31 8,471 56 -27
2017-12-31 8,365 37 -13
2017-09-30 8,260 63 -21
2017-06-30 8,270 14 -2
2017-03-31 8,301 25 16
2016-12-31 8,327 140 21
2016-09-30 8,408 42 27
2016-06-30 8,501 111 36

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Veritiv's earnings are expected to grow significantly at over 20% yearly.
  • Veritiv's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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
NYSE:VRTV Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Veritiv Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:VRTV Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 2.21 3.12 1.30 2.00
2019-12-31 -0.60 -0.20 -1.00 2.00
NYSE:VRTV Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -1.68
2018-12-31 -0.99
2018-09-30 -0.80
2018-06-30 -1.80
2018-03-31 -1.71
2017-12-31 -0.85
2017-09-30 -1.36
2017-06-30 -0.09
2017-03-31 0.98
2016-12-31 1.31
2016-09-30 1.68
2016-06-30 2.24

*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.
  • Unable to establish if Veritiv will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Veritiv'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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
Veritiv 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.

VRTV Past Performance

  How has Veritiv 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 Veritiv's growth in the last year to its industry (Trade Distributors).
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.
  • Veritiv does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Veritiv's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Veritiv's 1-year growth to the US Trade Distributors industry average as it is not currently profitable.
Earnings and Revenue History
Veritiv'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 Veritiv Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:VRTV Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 8,536.70 -26.60 1,409.00
2018-12-31 8,696.20 -15.70 1,417.70
2018-09-30 8,689.80 -12.70 1,414.00
2018-06-30 8,614.10 -28.40 1,423.10
2018-03-31 8,471.10 -26.90 1,401.20
2017-12-31 8,364.70 -13.30 1,384.20
2017-09-30 8,259.70 -21.40 1,361.70
2017-06-30 8,269.50 -1.50 1,337.30
2017-03-31 8,301.40 15.50 1,333.00
2016-12-31 8,326.60 21.00 1,325.30
2016-09-30 8,407.90 26.90 1,334.50
2016-06-30 8,501.10 35.80 1,342.10
2016-03-31 8,599.60 32.20 1,360.20
2015-12-31 8,717.70 26.70 1,373.10
2015-09-30 8,896.80 2.60 1,395.20
2015-06-30 9,067.30 -25.90 1,409.40
2015-03-31 8,237.00 -27.30 1,263.80
2014-12-31 7,406.50 -19.50 1,115.30
2014-09-30 6,445.00 -7.50 977.40
2014-06-30 5,497.50 11.70 835.70
2014-03-31 5,571.40 6.50 847.50
2013-12-31 5,652.40 0.00 862.40
2013-09-30 5,757.80 2.80 880.90
2012-12-31 6,012.00 14.40 904.60

*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.
  • It is difficult to establish if Veritiv has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Veritiv used its assets less efficiently than the US Trade Distributors industry average last year based on Return on Assets.
  • It is difficult to establish if Veritiv improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Veritiv'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 Trade Distributors 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.
Veritiv 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.

VRTV Health

 How is Veritiv'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 Veritiv's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Veritiv is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Veritiv's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Veritiv'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 covered by short term assets, assets are 2x 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 Veritiv Company Filings, last reported 3 months ago.

NYSE:VRTV Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 523.60 885.60 58.00
2018-12-31 543.10 994.50 64.30
2018-09-30 536.70 1,030.00 70.90
2018-06-30 528.20 988.60 69.50
2018-03-31 537.70 1,159.30 70.80
2017-12-31 549.70 1,100.60 80.30
2017-09-30 535.70 1,166.80 76.50
2017-06-30 543.70 995.90 55.30
2017-03-31 546.10 1,014.60 52.40
2016-12-31 541.80 943.10 69.60
2016-09-30 554.60 969.70 59.20
2016-06-30 548.50 902.00 46.10
2016-03-31 539.00 961.20 47.70
2015-12-31 530.10 1,015.80 54.40
2015-09-30 521.50 988.60 53.50
2015-06-30 510.10 1,012.10 79.40
2015-03-31 504.70 1,009.20 63.50
2014-12-31 512.50 1,085.00 57.60
2014-09-30 568.00 1,040.90 61.00
2014-06-30 756.20 0.00 3.90
2014-03-31 757.00 0.00 7.30
2013-12-31 779.60 0.00 5.70
2013-09-30 831.30 19.50 13.10
2012-12-31 813.10 20.30 15.40
  • Veritiv's level of debt (182%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 182% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Veritiv has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Veritiv has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 42.7% per year.
X
Financial health checks
We assess Veritiv'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. Veritiv has a total score of 4/6, 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.

VRTV Dividends

 What is Veritiv'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
0%
Current annual income from Veritiv dividends. Estimated to be 0% next year.
If you bought $2,000 of Veritiv shares you are expected to receive $0 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?
  • Unable to evaluate Veritiv's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Veritiv's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
NYSE:VRTV 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 2 Analyst Estimates (S&P Global) See Below
United States of America Trade Distributors Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

NYSE:VRTV Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00

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

  • Unable to perform a dividend volatility check as Veritiv has not reported any payouts.
  • Unable to verify if Veritiv's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Veritiv's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Veritiv has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Veritiv's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Veritiv's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Veritiv afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Veritiv has a total score of 0/6, see the detailed checks below.


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

VRTV Management

 What is the CEO of Veritiv'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
Mary Laschinger
COMPENSATION $6,832,009
AGE 58
TENURE AS CEO 5 years
CEO Bio

Ms. Mary A. Laschinger has been the Chairman and Chief Executive Officer at Veritiv Corporation since July 2014 and served as its President and Principal Financial Officer. Ms. Laschinger served as the President of Xpedx, LLC from January 2010 to June 2014. Ms. Laschinger served as Senior Vice President of International Paper Company from 2007 to June 2014 and also served as its President of the Europe, Middle East, Africa and Russia business from November 2005 to December 2007, Vice President from November 2005 to December 2007 and General Manager of International Paper’s Wood Products and Pulp businesses as well as in other senior management roles in sales, marketing, manufacturing and supply chain at International Paper. Prior to joining International Paper in 1992, Ms. Laschinger held various positions in product management and distribution at James River Corporation and Kimberly-Clark Corporation. Ms. Laschinger has been a Director of Kellogg Company since October 26, 2012. She is a Director of Federal Reserve Bank of Atlanta since January 01, 2017. She serves on the Board of Directors of the Metro Atlanta Chamber of Commerce. She served as Lead Director of Open Joint-Stock Company ILIM Group and served as its Director since October 2007. Ms. Laschinger holds a Bachelor’S Degree in Business from the University of Wisconsin and an MBA from the University of Connecticut. She has also completed postgraduate studies in Executive Management at the Kellogg School of Management at Northwestern University.

CEO Compensation
  • Mary's compensation has increased whilst company is loss making.
  • Mary's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Veritiv management team in years:

4.1
Average Tenure
55
Average Age
  • The tenure for the Veritiv management team is about average.
Management Team

Mary Laschinger

TITLE
Chairman & CEO
COMPENSATION
$7M
AGE
58
TENURE
5 yrs

Steve Smith

TITLE
CFO & Senior VP
COMPENSATION
$2M
AGE
55
TENURE
5.3 yrs

Tom Lazzaro

TITLE
Senior Vice President of Sales
COMPENSATION
$3M
AGE
55
TENURE
0.5 yrs

Dan Watkoske

TITLE
Senior Vice President of Print
COMPENSATION
$2M
AGE
50
TENURE
5 yrs

Sal Abbate

TITLE
Chief Commercial Officer & Senior VP
COMPENSATION
$2M
AGE
50
TENURE
1.3 yrs

Andrew Magley

TITLE
Chief Accounting Officer
AGE
48
TENURE
1.3 yrs

Dave Hudson

TITLE
Chief Information Officer and Vice President
TENURE
3.8 yrs

Tom Morabito

TITLE
Director of Investor Relations
TENURE
4.5 yrs

Mark Hianik

TITLE
Senior VP
COMPENSATION
$1M
AGE
58
TENURE
5.5 yrs

Peter Troup

TITLE
Vice President of Corporate Development
TENURE
3.4 yrs
Board of Directors Tenure

Average tenure and age of the Veritiv board of directors in years:

5.1
Average Tenure
61.5
Average Age
  • The tenure for the Veritiv board of directors is about average.
Board of Directors

Mary Laschinger

TITLE
Chairman & CEO
COMPENSATION
$7M
AGE
58
TENURE
5 yrs

Tracy Leinbach

TITLE
Independent Director
COMPENSATION
$237K
AGE
59
TENURE
5.1 yrs

Michael Muldowney

TITLE
Independent Director
COMPENSATION
$225K
AGE
55
TENURE
5.1 yrs

Chuck Ward

TITLE
Independent Director
COMPENSATION
$225K
AGE
66
TENURE
5.1 yrs

John Zillmer

TITLE
Presiding Director
COMPENSATION
$240K
AGE
64
TENURE
0.5 yrs

Dan Henry

TITLE
Independent Director
COMPENSATION
$250K
AGE
69
TENURE
5.1 yrs

Bill Mitchell

TITLE
Director
COMPENSATION
$250K
AGE
75
TENURE
5.1 yrs

Dave Flitman

TITLE
Director
COMPENSATION
$225K
AGE
55
TENURE
2 yrs
Who owns this company?
Recent Insider Trading
  • Veritiv individual insiders have sold more shares than they have bought in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
24. Jun 19 Sell John Biscanti Individual 21. Jun 19 21. Jun 19 -2,500 $19.09 $-47,725
20. May 19 Buy David Flitman Individual 20. May 19 20. May 19 1,200 $19.94 $23,928
19. Nov 18 Buy Mary Laschinger Individual 16. Nov 18 19. Nov 18 3,350 $29.92 $99,792
26. Sep 18 Sell Bain Capital, LP Company 25. Sep 18 25. Sep 18 -1,500,000 $41.40 $-62,100,000
X
Management checks
We assess Veritiv'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. Veritiv 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.

VRTV News

Simply Wall St News

Did Changing Sentiment Drive Veritiv's (NYSE:VRTV) Share Price Down A Worrying 54%?

To make matters worse, the returns over three years have also been really disappointing (the share price is 53% lower than three years ago). … During the unfortunate twelve months during which the Veritiv share price fell, it actually saw its earnings per share (EPS) improve by 2.0%. … But the share price might be lower because the market expected a meaningful improvement, and got none.

Simply Wall St -

Is Veritiv Corporation's (NYSE:VRTV) CEO Paid At A Competitive Rate?

We looked at a group of companies with market capitalizations from US$200m to US$800m, and the median CEO total compensation was US$1.8m. … Thus we can conclude that Mary Laschinger receives more in total compensation than the median of a group of companies in the same market, and of similar size to Veritiv Corporation. … We compared the total CEO remuneration paid by Veritiv Corporation, and compared it to remuneration at a group of similar sized companies.

Simply Wall St -

Read This Before Selling Veritiv Corporation (NYSE:VRTV) Shares

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … That means that an insider was happy to buy shares at above the current price of US$27.83. … Generally speaking, it catches our eye when an insider has purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price

Simply Wall St -

Did You Manage To Avoid Veritiv's (NYSE:VRTV) 33% Share Price Drop?

Investors in Veritiv Corporation (NYSE:VRTV) have tasted that bitter downside in the last year, as the share price dropped 33%. … On top of that, the share price has dropped a further 26% in a month. … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.

Simply Wall St -

Is Veritiv Corporation's (NYSE:VRTV) CEO Pay Justified?

In 2014 Mary Laschinger was appointed CEO of Veritiv Corporation (NYSE:VRTV). … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Mary Laschinger's Compensation Compare With Similar Sized Companies?

Simply Wall St -

When Should You Buy Veritiv Corporation (NYSE:VRTV)?

As a small cap stock, which tends to lack high analyst coverage, there is generally more of an opportunity for mispricing as there is less activity to push the stock closer to fair value? … Is there still an opportunity here to buy. … Today I will analyse the most recent data on Veritiv’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

Did Veritiv Corporation (NYSE:VRTV) Insiders Buy Up More Shares?

So we'll take a look at whether insiders have been buying or selling shares in Veritiv Corporation (NYSE:VRTV). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Veritiv Insider Transactions Over The Last Year.

Simply Wall St -

Shareholders Should Look Hard At Veritiv Corporation’s (NYSE:VRTV) 4.6% Return On Capital

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Return On Capital Employed (ROCE): What is it? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

Calculating The Fair Value Of Veritiv Corporation (NYSE:VRTV)

by taking the expected future cash flows and discounting them to their present 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 -

How Much is Veritiv Corporation's (NYSE:VRTV) CEO Getting Paid?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Mary Laschinger's Compensation Compare With Similar Sized Companies. … As you can see, Mary Laschinger is paid more than the median CEO pay at companies of a similar size, in the same market

Simply Wall St -

VRTV Company Info

Description

Veritiv Corporation operates as a business-to-business distributor of packaging, facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally. It operates through four segments: Packaging, Facility Solutions, Print, and Publishing. The Packaging segment offers standard, custom, and comprehensive packaging solutions. The Facility Solutions segment sources and sells cleaning, break-room, and other supplies, such as towels, tissues, wipers and dispensers, can liners, commercial cleaning chemicals, soaps and sanitizers, sanitary maintenance supplies and equipment, safety and hazard supplies, and shampoos and amenities. The Print segment sells and distributes commercial printing, writing, copying, digital, wide format, and specialty paper products; and graphics consumables and equipment. It also provides customized paper conversion services of commercial printing paper for distribution to document centers and form printers. The Publishing segment sells and distributes coated and uncoated commercial printing papers to publishers, retailers, converters, printers, and specialty businesses for use in magazines, catalogs, books, directories, gaming, couponing, retail inserts, and direct mail. This segment also provides print management, procurement, and supply chain management solutions. The company also offers logistics and supply chain management solutions. It offers its products under the Endurance, nordic+, Econosource, Comet, Starbrite Opaque Select, TUFflex, Reliable, and Spring Grove brands, as well as other brands to printers, publishers, data centers, manufacturers, higher education institutions, healthcare facilities, sporting and performance arenas, retail stores, government agencies, property managers, and building service contractors. As of February 28, 2019, the company operated 160 distribution centers. Veritiv Corporation was incorporated in 2013 and is headquartered in Atlanta, Georgia.

Details
Name: Veritiv Corporation
VRTV
Exchange: NYSE
Founded: 2013
$268,298,259
16,075,390
Website: http://www.veritivcorp.com
Address: Veritiv Corporation
Building 400,
Suite 1700,
Atlanta,
Georgia, 30328,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE VRTV New Common Shares New York Stock Exchange US USD 19. Jun 2014
DB 288 New Common Shares Deutsche Boerse AG DE EUR 19. Jun 2014
LSE 0LP2 New Common Shares London Stock Exchange GB USD 19. Jun 2014
Number of employees
Current staff
Staff numbers
8,700
Veritiv employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 01:13
End of day share price update: 2019/07/17 00:00
Last estimates confirmation: 2019/07/12
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
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.