Company Valuation: Cascades Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,409 849.1 1,282 1,203 1,262 1,862 - -
Change - -39.74% 50.97% -6.17% 4.91% 47.53% - -
Enterprise Value (EV) 1 2,760 2,815 3,164 3,299 3,158 3,576 3,326 2,963
Change - 1.99% 12.39% 4.26% -4.27% 13.24% -6.98% -10.94%
P/E - - -16.8x - - 15.6x 8.89x -
PBR 0.76x 0.46x 0.74x 0.7x 0.73x 1x 0.91x -
PEG - - - - - - 0.1x -
Capitalization / Revenue 0.36x 0.19x 0.28x 0.26x 0.26x 0.38x 0.35x 0.35x
EV / Revenue 0.7x 0.63x 0.68x 0.7x 0.66x 0.72x 0.63x 0.56x
EV / EBITDA 7.1x 7.49x 5.67x 6.58x 5.48x 6.1x 4.89x 4.23x
EV / EBIT 20.1x 22.7x 11.1x 15.1x 10.9x 11.8x 8.33x -
EV / FCF -36.8x -7.89x 19.8x 29.7x 13.9x 14.8x 15.6x 10.7x
FCF Yield -2.72% -12.7% 5.06% 3.36% 7.19% 6.75% 6.4% 9.32%
Dividend per Share 2 0.48 0.48 0.48 0.48 0.48 0.48 0.48 0.48
Rate of return 3.44% 5.67% 3.77% 4.03% 3.85% 2.63% 2.63% 2.63%
EPS 2 - - -0.76 - - 1.17 2.05 -
Distribution rate - - -63.2% - - 41% 23.4% -
Net sales 1 3,956 4,466 4,638 4,701 4,776 4,933 5,244 5,261
EBITDA 1 389 376 558 501 576 586.3 679.9 700
EBIT 1 137 124 286 219 289 304 399.5 -
Net income 1 - - -76 - - 147.8 208.6 -
Net Debt 1 1,351 1,966 1,882 2,096 1,896 1,714 1,465 1,101
Reference price 2 13.97 8.46 12.73 11.91 12.46 18.23 18.23 18.23
Nbr of stocks (in thousands) 100,860 100,362 100,695 100,988 101,269 102,117 - -
Announcement Date 2/24/22 A 2/23/23 A 2/22/24 A 2/20/25 A 2/26/26 A - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.99x1.11x7.17x4.26% 22.55B
23.67x2.35x11.29x2.33% 20.34B
26.29x1.07x8.13x5.52% 17.22B
20.06x2.3x9.39x1.87% 6.2B
19.59x2.31x13.77x2.79% 5.22B
12.31x1.13x6.55x4.41% 4.8B
-76.82x0.84x8.02x2.14% 4.64B
18.62x1.31x8.5x2.63% 3.76B
5.99x1.23x8.75x1.85% 3.35B
Average 8.08x 1.52x 9.06x 3.09% 9.79B
Weighted average by Cap. 16.71x 1.54x 8.98x 3.54%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield