Financials Pollard Banknote Limited

Equities

PBL

CA73150R1055

Casinos & Gaming

Market Closed - Toronto S.E. 03:59:48 2024-04-26 pm EDT 5-day change 1st Jan Change
36.32 CAD +2.66% Intraday chart for Pollard Banknote Limited +2.31% +13.39%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 512.7 916.2 1,073 514.7 863.4 982.6 -
Enterprise Value (EV) 1 648.5 1,062 1,201 514.7 863.4 1,084 1,022
P/E ratio 23.3 x 27.9 x 54.6 x 26.9 x 27.9 x 25.8 x 19.6 x
Yield - - - - - - -
Capitalization / Revenue 1.29 x 2.21 x 2.34 x 1.07 x 1.66 x 1.76 x 1.66 x
EV / Revenue 1.63 x 2.57 x 2.62 x 1.07 x 1.66 x 1.94 x 1.73 x
EV / EBITDA 10.8 x 13.2 x 14.3 x 6.39 x 9.46 x 9.56 x 7.92 x
EV / FCF 53.8 x 22.8 x 35 x - - 19.6 x 14.2 x
FCF Yield 1.86% 4.4% 2.86% - - 5.11% 7.03%
Price to Book 4.16 x - - - - - -
Nbr of stocks (in thousands) 25,636 25,636 26,918 26,918 26,955 27,055 -
Reference price 2 20.00 35.74 39.85 19.12 32.03 36.32 36.32
Announcement Date 3/11/20 3/10/21 3/9/22 3/7/23 3/5/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 397.8 414.1 459 482.3 520.4 559.4 592.1
EBITDA 1 60.2 80.6 84 80.5 91.3 113.4 129.1
EBIT 1 32.6 50 33.5 34.2 46 67.87 78.48
Operating Margin 8.2% 12.07% 7.3% 7.09% 8.84% 12.13% 13.25%
Earnings before Tax (EBT) 1 29 46.1 27.1 22.2 37.5 48.96 62.77
Net income 1 22 33.3 19.7 19.3 31.4 35.88 46
Net margin 5.53% 8.04% 4.29% 4% 6.03% 6.41% 7.77%
EPS 2 0.8600 1.280 0.7300 0.7100 1.150 1.410 1.855
Free Cash Flow 1 12.06 46.69 34.31 - - 55.41 71.84
FCF margin 3.03% 11.28% 7.48% - - 9.91% 12.13%
FCF Conversion (EBITDA) 20.02% 57.93% 40.85% - - 48.85% 55.66%
FCF Conversion (Net income) 54.8% 140.22% 174.17% - - 154.43% 156.19%
Dividend per Share - - - - - - -
Announcement Date 3/11/20 3/10/21 3/9/22 3/7/23 3/5/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 116.9 116.5 113.9 115.9 125.5 126.9 124.6 130.3 128.7 135.5 133.2 137.7 140 143.3 -
EBITDA 1 19.4 18.7 19 18.9 20.2 22.4 18.6 22.1 24.8 25.7 26.11 27.58 29.66 30.33 32
EBIT 1 4.4 4.7 9.3 8.7 6.7 9.4 7.6 9.9 14.6 14 13.76 16.31 19.45 18.35 -
Operating Margin 3.76% 4.03% 8.17% 7.51% 5.34% 7.41% 6.1% 7.6% 11.34% 10.33% 10.33% 11.84% 13.89% 12.81% -
Earnings before Tax (EBT) 1 1.5 3.2 8 4 - 10.2 5.1 8.8 9.3 14.3 8.735 11.48 14.82 13.92 -
Net income 1 -0.6 5.2 6.4 2.5 -0.2 10.5 4.8 7.5 7.7 11.3 6.376 8.381 10.82 10.3 -
Net margin -0.51% 4.46% 5.62% 2.16% -0.16% 8.27% 3.85% 5.76% 5.98% 8.34% 4.79% 6.08% 7.73% 7.19% -
EPS 2 -0.0200 0.1900 0.2400 0.0900 -0.0100 0.3900 0.1800 0.2700 0.2800 0.4100 0.2300 0.3100 0.3900 0.3800 -
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 11/10/21 3/9/22 5/11/22 8/10/22 11/9/22 3/7/23 5/11/23 8/10/23 11/7/23 3/5/24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 136 146 128 - - 102 39.3
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) 2.255 x 1.813 x 1.526 x - - 0.8948 x 0.3045 x
Free Cash Flow 1 12.1 46.7 34.3 - - 55.4 71.8
ROE (net income / shareholders' equity) 18.3% 25.1% 11.3% - - - -
ROA (Net income/ Total Assets) 6.69% - - - - - -
Assets 1 328.7 - - - - - -
Book Value Per Share 4.810 - - - - - -
Cash Flow per Share - - - - - - -
Capex 17.2 13 - - - - -
Capex / Sales 4.33% 3.13% - - - - -
Announcement Date 3/11/20 3/10/21 3/9/22 3/7/23 3/5/24 - -
1CAD in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
36.32 CAD
Average target price
43 CAD
Spread / Average Target
+18.39%
Consensus
  1. Stock Market
  2. Equities
  3. PBL Stock
  4. Financials Pollard Banknote Limited