CCL Industries Inc. (CCL-A.TO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+11.7%

CA$111.74

vs CA$100.00 price

Levered DCF

CA$112.10

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.6

Safe zone

Rating

—

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	18.89×	15.63×	19.93×	16.53×	20.37×	19.52×	20.64×	18.96×
P/B	2.69×	2.5×	2.29×	2.41×	3.25×	3.15×	3.4×	3.31×
P/S	1.98×	1.82×	1.59×	1.61×	2.13×	1.97×	1.85×	1.71×
EV / EBITDA	10.15×	9.11×	9.78×	9.46×	11.32×	10.49×	10.92×	10.93×
Gross margin	30.0%	29.5%	28.8%	26.9%	27.8%	28.7%	28.4%	29.1%
Operating margin	15.1%	14.5%	13.8%	13.4%	14.4%	14.7%	13.7%	13.7%
Net margin	10.5%	11.6%	8.0%	9.8%	10.5%	10.1%	9.0%	9.0%
Current ratio	1.42×	2.01×	1.9×	1.88×	1.73×	1.76×	1.83×	1.58×
Debt / equity	0.43×	0.46×	0.49×	0.55×	0.49×	0.64×	0.84×	0.95×
Interest coverage	13.6×	9.47×	9.02×	11.02×	12.77×	10.36×	7.84×	7.63×
Dividend yield	1.5%	1.6%	1.8%	1.7%	1.2%	1.2%	1.2%	1.0%
Payout ratio	27.9%	24.5%	35.5%	27.3%	25.2%	24.3%	25.4%	19.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	14.2%	16.0%	11.5%	14.6%	16.0%	16.1%	16.5%	17.5%
Return on invested capital	10.0%	9.8%	8.8%	9.2%	10.1%	9.5%	9.2%	9.2%
Return on assets	7.9%	8.6%	5.9%	7.2%	7.9%	7.2%	6.8%	6.6%
Free cash flow yield	5.7%	4.6%	5.1%	5.3%	4.2%	5.8%	4.4%	4.7%
Earnings yield	5.3%	6.4%	5.0%	6.0%	4.9%	5.1%	4.8%	5.3%
Enterprise value	CA$16.6B	CA$14.8B	CA$12.1B	CA$11.8B	CA$13.4B	CA$11.7B	CA$11.6B	CA$10.8B
Net debt / EBITDA	0.87×	1×	1.22×	1.22×	1.05×	1.25×	1.62×	1.97×
Cash conversion cycle (days)	60	14	10	10	6	47	42	45