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POLLARD BANKNOTE LTD (PBL.CA) Stock Fundamental Analysis

TSX:PBL - Toronto Stock Exchange - CA73150R1055 - Common Stock - Currency: CAD

25.98  -0.32 (-1.22%)

Fundamental Rating

6

Taking everything into account, PBL scores 6 out of 10 in our fundamental rating. PBL was compared to 19 industry peers in the Hotels, Restaurants & Leisure industry. Both the profitability and the financial health of PBL get a neutral evaluation. Nothing too spectacular is happening here. PBL is growing strongly while it also seems undervalued. This is an interesting combination With these ratings, PBL could be worth investigating further for value and growth investing!.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

PBL had positive earnings in the past year.
In the past year PBL had a positive cash flow from operations.
Each year in the past 5 years PBL has been profitable.
PBL had a positive operating cash flow in each of the past 5 years.
PBL.CA Yearly Net Income VS EBIT VS OCF VS FCFPBL.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 20M 40M 60M

1.2 Ratios

Looking at the Return On Assets, with a value of 7.97%, PBL belongs to the top of the industry, outperforming 83.33% of the companies in the same industry.
The Return On Equity of PBL (14.88%) is better than 83.33% of its industry peers.
PBL has a Return On Invested Capital (3.67%) which is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for PBL is below the industry average of 7.56%.
The 3 year average ROIC (2.74%) for PBL is below the current ROIC(3.67%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 7.97%
ROE 14.88%
ROIC 3.67%
ROA(3y)4.72%
ROA(5y)5.73%
ROE(3y)9.53%
ROE(5y)13.97%
ROIC(3y)2.74%
ROIC(5y)5.75%
PBL.CA Yearly ROA, ROE, ROICPBL.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15 20 25

1.3 Margins

The Profit Margin of PBL (8.72%) is better than 66.67% of its industry peers.
PBL's Profit Margin has improved in the last couple of years.
PBL's Operating Margin of 3.82% is in line compared to the rest of the industry. PBL outperforms 50.00% of its industry peers.
In the last couple of years the Operating Margin of PBL has declined.
PBL has a worse Gross Margin (19.42%) than 61.11% of its industry peers.
In the last couple of years the Gross Margin of PBL has declined.
Industry RankSector Rank
OM 3.82%
PM (TTM) 8.72%
GM 19.42%
OM growth 3Y-48.09%
OM growth 5Y-32.76%
PM growth 3Y-9.12%
PM growth 5Y6.1%
GM growth 3Y-9.13%
GM growth 5Y-6.28%
PBL.CA Yearly Profit, Operating, Gross MarginsPBL.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15 20

5

2. Health

2.1 Basic Checks

PBL has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
PBL has more shares outstanding than it did 1 year ago.
PBL has more shares outstanding than it did 5 years ago.
PBL has a better debt/assets ratio than last year.
PBL.CA Yearly Shares OutstandingPBL.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 5M 10M 15M 20M 25M
PBL.CA Yearly Total Debt VS Total AssetsPBL.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M 500M

2.2 Solvency

An Altman-Z score of 3.15 indicates that PBL is not in any danger for bankruptcy at the moment.
PBL has a better Altman-Z score (3.15) than 88.89% of its industry peers.
PBL has a debt to FCF ratio of 11.01. This is a negative value and a sign of low solvency as PBL would need 11.01 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 11.01, PBL is in line with its industry, outperforming 50.00% of the companies in the same industry.
A Debt/Equity ratio of 0.50 indicates that PBL is somewhat dependend on debt financing.
PBL has a better Debt to Equity ratio (0.50) than 61.11% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.5
Debt/FCF 11.01
Altman-Z 3.15
ROIC/WACC0.43
WACC8.49%
PBL.CA Yearly LT Debt VS Equity VS FCFPBL.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M 250M

2.3 Liquidity

A Current Ratio of 1.87 indicates that PBL should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.87, PBL belongs to the top of the industry, outperforming 88.89% of the companies in the same industry.
A Quick Ratio of 1.25 indicates that PBL should not have too much problems paying its short term obligations.
With an excellent Quick ratio value of 1.25, PBL belongs to the best of the industry, outperforming 88.89% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.87
Quick Ratio 1.25
PBL.CA Yearly Current Assets VS Current LiabilitesPBL.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M

8

3. Growth

3.1 Past

PBL shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 56.25%, which is quite impressive.
PBL shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 14.47% yearly.
The Revenue has grown by 8.42% in the past year. This is quite good.
PBL shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.41% yearly.
EPS 1Y (TTM)56.25%
EPS 3Y-4.04%
EPS 5Y14.47%
EPS Q2Q%135.71%
Revenue 1Y (TTM)8.42%
Revenue growth 3Y7.92%
Revenue growth 5Y9.41%
Sales Q2Q%19.08%

3.2 Future

Based on estimates for the next years, PBL will show a very strong growth in Earnings Per Share. The EPS will grow by 31.39% on average per year.
The Revenue is expected to grow by 8.50% on average over the next years. This is quite good.
EPS Next Y62.35%
EPS Next 2Y38.82%
EPS Next 3Y31.39%
EPS Next 5YN/A
Revenue Next Year8.47%
Revenue Next 2Y8.5%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
PBL.CA Yearly Revenue VS EstimatesPBL.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 200M 400M 600M
PBL.CA Yearly EPS VS EstimatesPBL.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2 2.5

7

4. Valuation

4.1 Price/Earnings Ratio

PBL is valuated correctly with a Price/Earnings ratio of 14.85.
Based on the Price/Earnings ratio, PBL is valued a bit cheaper than 66.67% of the companies in the same industry.
PBL's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 29.27.
Based on the Price/Forward Earnings ratio of 11.83, the valuation of PBL can be described as reasonable.
83.33% of the companies in the same industry are more expensive than PBL, based on the Price/Forward Earnings ratio.
PBL's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 96.48.
Industry RankSector Rank
PE 14.85
Fwd PE 11.83
PBL.CA Price Earnings VS Forward Price EarningsPBL.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, PBL is valued a bit cheaper than the industry average as 66.67% of the companies are valued more expensively.
PBL's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 46.14
EV/EBITDA 13.4
PBL.CA Per share dataPBL.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

PBL's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PBL has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as PBL's earnings are expected to grow with 31.39% in the coming years.
PEG (NY)0.24
PEG (5Y)1.03
EPS Next 2Y38.82%
EPS Next 3Y31.39%

5

5. Dividend

5.1 Amount

With a yearly dividend of 0.73%, PBL is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 4.60, PBL has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.31, PBL's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.73%

5.2 History

The dividend of PBL has a limited annual growth rate of 5.04%.
PBL has paid a dividend for at least 10 years, which is a reliable track record.
PBL has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)5.04%
Div Incr Years1
Div Non Decr Years13
PBL.CA Yearly Dividends per sharePBL.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0.05 0.1 0.15 0.2

5.3 Sustainability

PBL pays out 10.07% of its income as dividend. This is a sustainable payout ratio.
PBL's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP10.07%
EPS Next 2Y38.82%
EPS Next 3Y31.39%
PBL.CA Yearly Income VS Free CF VS DividendPBL.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M
PBL.CA Dividend Payout.PBL.CA Dividend Payout, showing the Payout Ratio.PBL.CA Dividend Payout.PayoutRetained Earnings

POLLARD BANKNOTE LTD

TSX:PBL (2/13/2025, 7:00:00 PM)

25.98

-0.32 (-1.22%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)11-13 2024-11-13/amc
Earnings (Next)03-05 2025-03-05
Inst Owners16.2%
Inst Owner ChangeN/A
Ins Owners64.24%
Ins Owner ChangeN/A
Market Cap702.76M
Analysts80
Price Target41.57 (60.01%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.73%
Yearly Dividend0.16
Dividend Growth(5Y)5.04%
DP10.07%
Div Incr Years1
Div Non Decr Years13
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)56.9%
Min EPS beat(2)46.85%
Max EPS beat(2)66.96%
EPS beat(4)3
Avg EPS beat(4)41.15%
Min EPS beat(4)-11.6%
Max EPS beat(4)66.96%
EPS beat(8)6
Avg EPS beat(8)43.08%
EPS beat(12)7
Avg EPS beat(12)15.22%
EPS beat(16)10
Avg EPS beat(16)12.08%
Revenue beat(2)2
Avg Revenue beat(2)4.3%
Min Revenue beat(2)1.34%
Max Revenue beat(2)7.27%
Revenue beat(4)3
Avg Revenue beat(4)0.54%
Min Revenue beat(4)-6.58%
Max Revenue beat(4)7.27%
Revenue beat(8)6
Avg Revenue beat(8)0.28%
Revenue beat(12)7
Avg Revenue beat(12)-0.73%
Revenue beat(16)8
Avg Revenue beat(16)-1.43%
PT rev (1m)0%
PT rev (3m)13.99%
EPS NQ rev (1m)9.3%
EPS NQ rev (3m)23.68%
EPS NY rev (1m)0.55%
EPS NY rev (3m)17.28%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)2.72%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.78%
Valuation
Industry RankSector Rank
PE 14.85
Fwd PE 11.83
P/S 1.27
P/FCF 46.14
P/OCF 10.89
P/B 2.17
P/tB 8.46
EV/EBITDA 13.4
EPS(TTM)1.75
EY6.74%
EPS(NY)2.2
Fwd EY8.46%
FCF(TTM)0.56
FCFY2.17%
OCF(TTM)2.39
OCFY9.19%
SpS20.47
BVpS11.99
TBVpS3.07
PEG (NY)0.24
PEG (5Y)1.03
Profitability
Industry RankSector Rank
ROA 7.97%
ROE 14.88%
ROCE 4.31%
ROIC 3.67%
ROICexc 3.72%
ROICexgc 7.4%
OM 3.82%
PM (TTM) 8.72%
GM 19.42%
FCFM 2.75%
ROA(3y)4.72%
ROA(5y)5.73%
ROE(3y)9.53%
ROE(5y)13.97%
ROIC(3y)2.74%
ROIC(5y)5.75%
ROICexc(3y)2.76%
ROICexc(5y)5.83%
ROICexgc(3y)6.03%
ROICexgc(5y)11.33%
ROCE(3y)3.22%
ROCE(5y)6.75%
ROICexcg growth 3Y-46.72%
ROICexcg growth 5Y-32.25%
ROICexc growth 3Y-47.84%
ROICexc growth 5Y-33.43%
OM growth 3Y-48.09%
OM growth 5Y-32.76%
PM growth 3Y-9.12%
PM growth 5Y6.1%
GM growth 3Y-9.13%
GM growth 5Y-6.28%
F-Score6
Asset Turnover0.91
Health
Industry RankSector Rank
Debt/Equity 0.5
Debt/FCF 11.01
Debt/EBITDA 2.49
Cap/Depr 111.96%
Cap/Sales 8.91%
Interest Coverage 2.2
Cash Conversion 99.02%
Profit Quality 31.55%
Current Ratio 1.87
Quick Ratio 1.25
Altman-Z 3.15
F-Score6
WACC8.49%
ROIC/WACC0.43
Cap/Depr(3y)84.6%
Cap/Depr(5y)84.91%
Cap/Sales(3y)7.26%
Cap/Sales(5y)6.8%
Profit Quality(3y)101.15%
Profit Quality(5y)85.39%
High Growth Momentum
Growth
EPS 1Y (TTM)56.25%
EPS 3Y-4.04%
EPS 5Y14.47%
EPS Q2Q%135.71%
EPS Next Y62.35%
EPS Next 2Y38.82%
EPS Next 3Y31.39%
EPS Next 5YN/A
Revenue 1Y (TTM)8.42%
Revenue growth 3Y7.92%
Revenue growth 5Y9.41%
Sales Q2Q%19.08%
Revenue Next Year8.47%
Revenue Next 2Y8.5%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y523.11%
EBIT growth 3Y-43.98%
EBIT growth 5Y-26.43%
EBIT Next Year167.66%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y178.47%
FCF growth 3Y-9.52%
FCF growth 5Y8.78%
OCF growth 1Y289.61%
OCF growth 3Y2.71%
OCF growth 5Y10.26%