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CASCADES INC (CAS.CA) Stock Fundamental Analysis

Canada - TSX:CAS - CA1469001053 - Common Stock

9.56 CAD
-0.04 (-0.42%)
Last: 9/26/2025, 7:00:00 PM
Fundamental Rating

4

Overall CAS gets a fundamental rating of 4 out of 10. We evaluated CAS against 8 industry peers in the Containers & Packaging industry. CAS has a bad profitability rating. Also its financial health evaluation is rather negative. A decent growth rate in combination with a cheap valuation! Better keep an eye on CAS. Finally CAS also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

3

1. Profitability

1.1 Basic Checks

CAS had positive earnings in the past year.
In the past year CAS had a positive cash flow from operations.
In multiple years CAS reported negative net income over the last 5 years.
In the past 5 years CAS always reported a positive cash flow from operatings.
CAS.CA Yearly Net Income VS EBIT VS OCF VS FCFCAS.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M

1.2 Ratios

The Return On Assets of CAS (-0.17%) is worse than 75.00% of its industry peers.
CAS has a worse Return On Equity (-0.48%) than 75.00% of its industry peers.
CAS has a Return On Invested Capital of 4.65%. This is in the lower half of the industry: CAS underperforms 75.00% of its industry peers.
The Average Return On Invested Capital over the past 3 years for CAS is below the industry average of 7.91%.
The 3 year average ROIC (3.51%) for CAS is below the current ROIC(4.65%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA -0.17%
ROE -0.48%
ROIC 4.65%
ROA(3y)-0.96%
ROA(5y)0.86%
ROE(3y)-2.66%
ROE(5y)2.39%
ROIC(3y)3.51%
ROIC(5y)3.81%
CAS.CA Yearly ROA, ROE, ROICCAS.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30

1.3 Margins

CAS has a worse Operating Margin (5.49%) than 62.50% of its industry peers.
In the last couple of years the Operating Margin of CAS has declined.
Looking at the Gross Margin, with a value of 40.29%, CAS is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
In the last couple of years the Gross Margin of CAS has grown nicely.
Industry RankSector Rank
OM 5.49%
PM (TTM) N/A
GM 40.29%
OM growth 3Y9.66%
OM growth 5Y-6.24%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y27.9%
GM growth 5Y20.84%
CAS.CA Yearly Profit, Operating, Gross MarginsCAS.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30 40

0

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), CAS is destroying value.
Compared to 1 year ago, CAS has more shares outstanding
Compared to 5 years ago, CAS has more shares outstanding
Compared to 1 year ago, CAS has a worse debt to assets ratio.
CAS.CA Yearly Shares OutstandingCAS.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
CAS.CA Yearly Total Debt VS Total AssetsCAS.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

2.2 Solvency

CAS has an Altman-Z score of 1.75. This is a bad value and indicates that CAS is not financially healthy and even has some risk of bankruptcy.
CAS has a Altman-Z score of 1.75. This is amonst the worse of the industry: CAS underperforms 87.50% of its industry peers.
CAS has a debt to FCF ratio of 19.19. This is a negative value and a sign of low solvency as CAS would need 19.19 years to pay back of all of its debts.
The Debt to FCF ratio of CAS (19.19) is worse than 75.00% of its industry peers.
A Debt/Equity ratio of 1.23 is on the high side and indicates that CAS has dependencies on debt financing.
CAS's Debt to Equity ratio of 1.23 is on the low side compared to the rest of the industry. CAS is outperformed by 87.50% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.23
Debt/FCF 19.19
Altman-Z 1.75
ROIC/WACC0.64
WACC7.29%
CAS.CA Yearly LT Debt VS Equity VS FCFCAS.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B

2.3 Liquidity

A Current Ratio of 1.54 indicates that CAS should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.54, CAS is doing worse than 62.50% of the companies in the same industry.
CAS has a Quick Ratio of 1.54. This is a bad value and indicates that CAS is not financially healthy enough and could expect problems in meeting its short term obligations.
CAS has a worse Quick ratio (0.66) than 87.50% of its industry peers.
Industry RankSector Rank
Current Ratio 1.54
Quick Ratio 0.66
CAS.CA Yearly Current Assets VS Current LiabilitesCAS.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

5

3. Growth

3.1 Past

CAS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 47.37%, which is quite impressive.
Measured over the past years, CAS shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -10.07% on average per year.
The Revenue has been growing slightly by 2.77% in the past year.
CAS shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -1.21% yearly.
EPS 1Y (TTM)47.37%
EPS 3Y32.15%
EPS 5Y-10.07%
EPS Q2Q%137.5%
Revenue 1Y (TTM)2.77%
Revenue growth 3Y5.92%
Revenue growth 5Y-1.21%
Sales Q2Q%0.59%

3.2 Future

Based on estimates for the next years, CAS will show a very strong growth in Earnings Per Share. The EPS will grow by 39.72% on average per year.
The Revenue is expected to grow by 1.02% on average over the next years.
EPS Next Y48.98%
EPS Next 2Y47.46%
EPS Next 3Y29.66%
EPS Next 5Y39.72%
Revenue Next Year0.36%
Revenue Next 2Y0.45%
Revenue Next 3Y1.02%
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
CAS.CA Yearly Revenue VS EstimatesCAS.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1B 2B 3B 4B 5B
CAS.CA Yearly EPS VS EstimatesCAS.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.5 1 1.5 2

7

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 11.38 indicates a reasonable valuation of CAS.
CAS's Price/Earnings ratio is a bit cheaper when compared to the industry. CAS is cheaper than 75.00% of the companies in the same industry.
CAS's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.32.
A Price/Forward Earnings ratio of 7.33 indicates a rather cheap valuation of CAS.
Based on the Price/Forward Earnings ratio, CAS is valued a bit cheaper than the industry average as 62.50% of the companies are valued more expensively.
CAS is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.89, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 11.38
Fwd PE 7.33
CAS.CA Price Earnings VS Forward Price EarningsCAS.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

CAS's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. CAS is cheaper than 62.50% of the companies in the same industry.
62.50% of the companies in the same industry are more expensive than CAS, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 8.72
EV/EBITDA 5.59
CAS.CA Per share dataCAS.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as CAS's earnings are expected to grow with 29.66% in the coming years.
PEG (NY)0.23
PEG (5Y)N/A
EPS Next 2Y47.46%
EPS Next 3Y29.66%

8

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 5.00%, CAS is a good candidate for dividend investing.
CAS's Dividend Yield is rather good when compared to the industry average which is at 3.26. CAS pays more dividend than 100.00% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, CAS pays a better dividend.
Industry RankSector Rank
Dividend Yield 5%

5.2 History

On average, the dividend of CAS grows each year by 14.28%, which is quite nice.
CAS has paid a dividend for at least 10 years, which is a reliable track record.
CAS has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)14.28%
Div Incr Years0
Div Non Decr Years23
CAS.CA Yearly Dividends per shareCAS.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.1 0.2 0.3 0.4

5.3 Sustainability

CAS has negative earnings and hence a negative payout ratio. The dividend may be in danger.
CAS's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP-600%
EPS Next 2Y47.46%
EPS Next 3Y29.66%
CAS.CA Yearly Income VS Free CF VS DividendCAS.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M

CASCADES INC

TSX:CAS (9/26/2025, 7:00:00 PM)

9.56

-0.04 (-0.42%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryContainers & Packaging
Earnings (Last)08-07 2025-08-07/bmo
Earnings (Next)11-05 2025-11-05
Inst Owners24.63%
Inst Owner ChangeN/A
Ins Owners11.61%
Ins Owner ChangeN/A
Market Cap968.05M
Analysts70
Price Target10.97 (14.75%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5%
Yearly Dividend0.48
Dividend Growth(5Y)14.28%
DP-600%
Div Incr Years0
Div Non Decr Years23
Ex-Date08-21 2025-08-21 (0.12)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-3.97%
Min EPS beat(2)-6.95%
Max EPS beat(2)-0.99%
EPS beat(4)1
Avg EPS beat(4)11%
Min EPS beat(4)-15.14%
Max EPS beat(4)67.08%
EPS beat(8)4
Avg EPS beat(8)14.22%
EPS beat(12)8
Avg EPS beat(12)19.24%
EPS beat(16)10
Avg EPS beat(16)-14.2%
Revenue beat(2)0
Avg Revenue beat(2)-2.26%
Min Revenue beat(2)-3.43%
Max Revenue beat(2)-1.08%
Revenue beat(4)2
Avg Revenue beat(4)-0.82%
Min Revenue beat(4)-3.43%
Max Revenue beat(4)0.75%
Revenue beat(8)2
Avg Revenue beat(8)-1.76%
Revenue beat(12)5
Avg Revenue beat(12)-0.84%
Revenue beat(16)8
Avg Revenue beat(16)-0.57%
PT rev (1m)6.61%
PT rev (3m)8.4%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-37.08%
EPS NY rev (1m)0%
EPS NY rev (3m)-38.83%
Revenue NQ rev (1m)-0.58%
Revenue NQ rev (3m)-6.56%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-4.22%
Valuation
Industry RankSector Rank
PE 11.38
Fwd PE 7.33
P/S 0.2
P/FCF 8.72
P/OCF 3.57
P/B 0.58
P/tB 0.84
EV/EBITDA 5.59
EPS(TTM)0.84
EY8.79%
EPS(NY)1.3
Fwd EY13.65%
FCF(TTM)1.1
FCFY11.47%
OCF(TTM)2.68
OCFY27.99%
SpS46.94
BVpS16.52
TBVpS11.35
PEG (NY)0.23
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.17%
ROE -0.48%
ROCE 6.47%
ROIC 4.65%
ROICexc 4.69%
ROICexgc 5.39%
OM 5.49%
PM (TTM) N/A
GM 40.29%
FCFM 2.34%
ROA(3y)-0.96%
ROA(5y)0.86%
ROE(3y)-2.66%
ROE(5y)2.39%
ROIC(3y)3.51%
ROIC(5y)3.81%
ROICexc(3y)3.56%
ROICexc(5y)3.99%
ROICexgc(3y)4.13%
ROICexgc(5y)4.7%
ROCE(3y)4.88%
ROCE(5y)5.31%
ROICexcg growth 3Y12.07%
ROICexcg growth 5Y-7.78%
ROICexc growth 3Y12.83%
ROICexc growth 5Y-6.94%
OM growth 3Y9.66%
OM growth 5Y-6.24%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y27.9%
GM growth 5Y20.84%
F-Score6
Asset Turnover0.99
Health
Industry RankSector Rank
Debt/Equity 1.23
Debt/FCF 19.19
Debt/EBITDA 3.76
Cap/Depr 55.75%
Cap/Sales 3.37%
Interest Coverage 250
Cash Conversion 49.45%
Profit Quality N/A
Current Ratio 1.54
Quick Ratio 0.66
Altman-Z 1.75
F-Score6
WACC7.29%
ROIC/WACC0.64
Cap/Depr(3y)128.19%
Cap/Depr(5y)116.34%
Cap/Sales(3y)7.4%
Cap/Sales(5y)6.85%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)47.37%
EPS 3Y32.15%
EPS 5Y-10.07%
EPS Q2Q%137.5%
EPS Next Y48.98%
EPS Next 2Y47.46%
EPS Next 3Y29.66%
EPS Next 5Y39.72%
Revenue 1Y (TTM)2.77%
Revenue growth 3Y5.92%
Revenue growth 5Y-1.21%
Sales Q2Q%0.59%
Revenue Next Year0.36%
Revenue Next 2Y0.45%
Revenue Next 3Y1.02%
Revenue Next 5YN/A
EBIT growth 1Y18.64%
EBIT growth 3Y16.16%
EBIT growth 5Y-7.37%
EBIT Next Year200.31%
EBIT Next 3Y42.24%
EBIT Next 5Y40.18%
FCF growth 1Y155.22%
FCF growth 3Y-26.63%
FCF growth 5Y-11.29%
OCF growth 1Y-16.62%
OCF growth 3Y-21.72%
OCF growth 5Y-9.98%