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 1,870 - -
Change - -39.74% 50.97% -6.17% 4.91% 48.18% - -
Enterprise Value (EV) 1 2,760 2,815 3,164 3,299 3,158 3,584 3,335 2,971
Change - 1.99% 12.39% 4.26% -4.27% 13.5% -6.96% -10.91%
P/E - - -16.8x - - 15.6x 8.93x -
PBR 0.76x 0.46x 0.74x 0.7x 0.73x 1.01x 0.91x -
PEG - - - - - - 0.1x -
Capitalization / Revenue 0.36x 0.19x 0.28x 0.26x 0.26x 0.38x 0.36x 0.36x
EV / Revenue 0.7x 0.63x 0.68x 0.7x 0.66x 0.73x 0.64x 0.56x
EV / EBITDA 7.1x 7.49x 5.67x 6.58x 5.48x 6.11x 4.9x 4.24x
EV / EBIT 20.1x 22.7x 11.1x 15.1x 10.9x 11.8x 8.35x -
EV / FCF -36.8x -7.89x 19.8x 29.7x 13.9x 14.9x 15.7x 10.8x
FCF Yield -2.72% -12.7% 5.06% 3.36% 7.19% 6.73% 6.39% 9.29%
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% 2.62% 2.62% 2.62%
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 18.31 18.31 18.31
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.($)
- 0.73x6.11x2.62% 1.32B
23.56x1.13x7.28x4.16% 23.1B
23.62x2.34x11.27x2.34% 20.3B
26.82x1.08x8.23x5.41% 17.57B
20.13x2.31x9.41x1.86% 6.27B
19.59x2.31x13.77x2.79% 5.22B
12.39x1.14x6.58x4.38% 4.83B
-78.13x0.85x8.1x2.11% 4.76B
17.99x1.27x8.29x2.72% 3.64B
13.73x1.04x7.1x4.07% 3.45B
Average 8.86x 1.42x 8.61x 3.25% 9.05B
Weighted average by Cap. 17.09x 1.52x 8.91x 3.58%

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

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