Glatfelter (NYSE:GLT) - Share price, News & Analysis

Q: What is the Fair Price of GLT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

GLT ($5.88) is trading below our estimate of [[fair value]] ($6.76)

GLT fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	1/6
Past Performance	0/6
Financial Health	1/6
Dividends	4/6

GLT Stock Overview

Glatfelter Corporation, together with its subsidiaries, manufactures and sells engineered materials worldwide.

Rewards

Trading at 13% below our estimate of its fair value

Revenue is forecast to grow 10.21% per year

Risk Analysis

Earnings have declined by 32.2% per year over past 5 years

Interest payments are not well covered by earnings

Dividend of 9.52% is not well covered by earnings or forecast to be in the next 3 years

Glatfelter Competitors

Clearwater Paper

NYSE:CLW

US$765.8m

Mercer International

NasdaqGS:MERC

US$1.1b

Resolute Forest Products

NYSE:RFP

US$1.6b

Sylvamo

NYSE:SLVM

US$1.9b

Price History & Performance

Summary of all time highs, changes and price drops for Glatfelter
Historical stock prices
Current Share Price	US$5.88
52 Week High	US$18.74
52 Week Low	US$4.90
Beta	1.35
1 Month Change	-10.09%
3 Month Change	-25.00%
1 Year Change	-62.62%
3 Year Change	-58.48%
5 Year Change	-65.00%
Change since IPO	-73.42%

Recent News & Updates

Aug 02

Glatfelter Corporation Non-GAAP EPS of -$0.04, revenue of $363.96M

Glatfelter Corporation press release (NYSE:GLT): Q2 Non-GAAP EPS of -$0.04. Revenue of $363.96M (+48.6% Y/Y). Cash and cash equivalents totaled $71.5M as of June 30, 2022, and net debt was $740.3M compared with $648.9M at the end of 2021.

Jul 27

Should You Think About Buying Glatfelter Corporation (NYSE:GLT) Now?

Glatfelter Corporation ( NYSE:GLT ), might not be a large cap stock, but it saw significant share price movement during...

Shareholder Returns

	GLT	US Forestry	US Market
7D	10.9%	5.5%	4.5%
1Y	-62.6%	12.2%	-8.9%

Return vs Industry: GLT underperformed the US Forestry industry which returned 8% over the past year.

Return vs Market: GLT underperformed the US Market which returned -9.6% over the past year.

Price Volatility

Is GLT's price volatile compared to industry and market?
GLT volatility
GLT Average Weekly Movement	7.7%
Forestry Industry Average Movement	7.6%
Market Average Movement	7.6%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	3.1%

Stable Share Price: GLT is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: GLT's weekly volatility (8%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1864	3,235	Dante Parrini	https://www.glatfelter.com

Glatfelter Corporation, together with its subsidiaries, manufactures and sells engineered materials worldwide. It operates through three segments: Composite Fibers, Airlaid Materials, and Spunlace. The Composite Fibers segment offers food and beverage filtration materials for single-serve coffee and tea products; wallcover base materials for wallpaper manufacturers; metallized products that are used in labels, packaging liners, gift wraps, and other consumer product applications; composite laminates consisting of decorative laminates for use in furniture, household and commercial flooring, and other applications; and specialty engineered products, which are used in electrical energy storage, home, hygiene, and other engineered fiber-based applications.

Glatfelter Fundamentals Summary

How do Glatfelter's earnings and revenue compare to its market cap?
GLT fundamental statistics
Market Cap	US$263.28m
Earnings (TTM)	-US$113.91m
Revenue (TTM)	US$1.36b

0.2x

P/S Ratio

-2.3x

P/E Ratio

Is GLT overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
GLT income statement (TTM)
Revenue	US$1.36b
Cost of Revenue	US$1.22b
Gross Profit	US$139.01m
Other Expenses	US$252.92m
Earnings	-US$113.91m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-2.54
Gross Margin	10.22%
Net Profit Margin	-8.38%
Debt/Equity Ratio	208.2%

How did GLT perform over the long term?

See historical performance and comparison

Dividends

9.5%

Current Dividend Yield

-22%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is GLT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GLT?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for GLT. This is calculated by dividing GLT's market cap by their current preferred multiple.
What is GLT's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$263.28m

GLT key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.7x
Enterprise Value/EBITDA	13.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does GLT's PS Ratio compare to its peers?

GLT PS Ratio vs Peers

The above table shows the PS ratio for GLT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PS	Estimated Growth	Market Cap
Peer Average	0.5x
CLW Clearwater Paper	0.4x	1.7%	US$765.8m
MERC Mercer International	0.5x	-2.1%	US$1.1b
RFP Resolute Forest Products	0.4x	-4.6%	US$1.6b
SLVM Sylvamo	0.5x	-7.7%	US$1.9b
GLT Glatfelter	0.2x	10.2%	US$263.3m

Price-To-Sales vs Peers: GLT is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (0.5x).

Price to Earnings Ratio vs Industry

How does GLT's PE Ratio compare vs other companies in the North American Forestry Industry?

Price-To-Sales vs Industry: GLT is good value based on its Price-To-Sales Ratio (0.2x) compared to the US Forestry industry average (0.5x)

Price to Sales Ratio vs Fair Ratio

What is GLT's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GLT PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.2x
Fair PS Ratio	0.6x

Price-To-Sales vs Fair Ratio: GLT is good value based on its Price-To-Sales Ratio (0.2x) compared to the estimated Fair Price-To-Sales Ratio (0.6x).

Share Price vs Fair Value

What is the Fair Price of GLT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GLT ($5.88) is trading below our estimate of fair value ($6.76)

Significantly Below Fair Value: GLT is trading below fair value, but not by a significant amount.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is Glatfelter forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

1/6

Future Growth Score 1/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

10.2%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if GLT's forecast earnings growth is above the savings rate (1.9%).

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

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

Revenue vs Market: GLT's revenue (10.2% per year) is forecast to grow faster than the US market (7.9% per year).

High Growth Revenue: GLT's revenue (10.2% 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 GLT's Return on Equity is forecast to be high in 3 years time

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Past Performance

How has Glatfelter performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-32.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GLT is currently unprofitable.

Growing Profit Margin: GLT is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: GLT is unprofitable, and losses have increased over the past 5 years at a rate of 32.2% per year.

Accelerating Growth: Unable to compare GLT's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: GLT is unprofitable, making it difficult to compare its past year earnings growth to the Forestry industry (29.8%).

Return on Equity

High ROE: GLT has a negative Return on Equity (-29.21%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is Glatfelter's financial position?

Financial Health Score

1/6

Financial Health Score 1/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: GLT's short term assets ($634.6M) exceed its short term liabilities ($327.5M).

Long Term Liabilities: GLT's short term assets ($634.6M) do not cover its long term liabilities ($979.8M).

Debt to Equity History and Analysis

Debt Level: GLT's net debt to equity ratio (189.9%) is considered high.

Reducing Debt: GLT's debt to equity ratio has increased from 64.5% to 208.2% over the past 5 years.

Debt Coverage: GLT's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: GLT's interest payments on its debt are not well covered by EBIT (0.3x coverage).

Balance Sheet

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Dividend

What is Glatfelter current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

9.52%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: GLT's dividend (9.52%) is higher than the bottom 25% of dividend payers in the US market (1.47%).

High Dividend: GLT's dividend (9.52%) is in the top 25% of dividend payers in the US market (3.96%)

Stability and Growth of Payments

Stable Dividend: GLT's dividends per share have been stable in the past 10 years.

Growing Dividend: GLT's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: GLT is paying a dividend but the company is unprofitable.

Cash Payout to Shareholders

Cash Flow Coverage: GLT is paying a dividend but the company has no free cash flows.

Discover strong dividend paying companies

Management

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

8.1yrs

Average management tenure

CEO

Dante Parrini (57 yo)

11.58yrs

Tenure

US$4,611,728

Compensation

Mr. Dante C. Parrini has been the Chief Executive Officer and President of P. H. Glatfelter Company since January 1, 2011 and has been its Chairman since May 4, 2011 and has been its Director since June 3,...

CEO Compensation Analysis

Compensation vs Market: Dante's total compensation ($USD4.61M) is above average for companies of similar size in the US market ($USD1.67M).

Compensation vs Earnings: Dante's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: GLT's management team is seasoned and experienced (8.1 years average tenure).

Board Members

Experienced Board: GLT's board of directors are seasoned and experienced ( 11.4 years average tenure).

Ownership

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

Insider Trading Volume

Insider Buying: GLT 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.

Data	Last Updated (UTC time)
Company Analysis	2022/08/16 00:00
End of Day Share Price	2022/08/16 00:00
Earnings	2022/06/30
Annual Earnings	2021/12/31