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PFB

TSX:PFB
Snowflake Description

Very undervalued with excellent balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PFB
TSX
CA$83M
Market Cap
  1. Home
  2. CA
  3. Capital Goods
Company description

PFB Corporation manufactures and markets insulating building products made from expanded polystyrene materials (EPS) for the residential, industrial, and commercial construction markets in the North America. The last earnings update was 18 days ago. More info.


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PFB Share Price and Events
7 Day Returns
6.9%
TSX:PFB
-1.6%
North America Building
1.6%
CA Market
1 Year Returns
27.2%
TSX:PFB
24.7%
North America Building
5.9%
CA Market
PFB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PFB (PFB) 6.9% 21.6% 12.7% 27.2% 45.4% 210%
North America Building -1.6% 5% 9.6% 24.7% 20.4% 33%
CA Market 1.6% 2.6% 3% 5.9% 9.4% 9.1%
1 Year Return vs Industry and Market
  • PFB outperformed the Building industry which returned 24.7% over the past year.
  • PFB outperformed the Market in Canada which returned 5.9% over the past year.
Price Volatility
PFB
Industry
5yr Volatility vs Market

Value

 Is PFB undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of PFB to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for PFB.

TSX:PFB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.4%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:PFB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Building Unlevered Beta Simply Wall St/ S&P Global 1.19
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.185 (1 + (1- 26.5%) (21.95%))
1.252
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.25
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.252 * 5.96%)
9.41%

Discounted Cash Flow Calculation for TSX:PFB using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for PFB is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

TSX:PFB DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 9.41%)
2020 12.13 Analyst x1 11.08
2021 15.41 Est @ 27.11% 12.88
2022 18.43 Est @ 19.56% 14.07
2023 21.06 Est @ 14.28% 14.70
2024 23.29 Est @ 10.58% 14.85
2025 25.15 Est @ 7.99% 14.66
2026 26.70 Est @ 6.18% 14.23
2027 28.01 Est @ 4.91% 13.64
2028 29.14 Est @ 4.02% 12.97
2029 30.13 Est @ 3.4% 12.26
Present value of next 10 years cash flows CA$135.00
TSX:PFB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$30.13 × (1 + 1.95%) ÷ (9.41% – 1.95%)
CA$411.57
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$411.57 ÷ (1 + 9.41%)10
CA$167.46
TSX:PFB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$135.00 + CA$167.46
CA$302.46
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$302.46 / 6.69
CA$45.2
TSX:PFB Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$45.20
Current discount Discount to share price of CA$12.40
= -1 x (CA$12.40 - CA$45.20) / CA$45.20
72.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price PFB is available for.
Intrinsic value
>50%
Share price is CA$12.4 vs Future cash flow value of CA$45.2
Current Discount Checks
For PFB to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • PFB's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • PFB's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for PFB's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PFB's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:PFB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in CAD CA$1.10
TSX:PFB Share Price ** TSX (2019-11-11) in CAD CA$12.4
North America Building Industry PE Ratio Median Figure of 32 Publicly-Listed Building Companies 21.7x
Canada Market PE Ratio Median Figure of 518 Publicly-Listed Companies 14.76x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of PFB.

TSX:PFB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:PFB Share Price ÷ EPS (both in CAD)

= 12.4 ÷ 1.10

11.23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PFB is good value based on earnings compared to the North America Building industry average.
  • PFB is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does PFB's expected growth come at a high price?
Raw Data
TSX:PFB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
16.5%per year
North America Building Industry PEG Ratio Median Figure of 26 Publicly-Listed Building Companies 1.24x
Canada Market PEG Ratio Median Figure of 236 Publicly-Listed Companies 0.98x

*Line of best fit is calculated by linear regression .

TSX:PFB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.23x ÷ 16.5%

0.68x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PFB is good value based on expected growth next year.
Price based on value of assets
What value do investors place on PFB's assets?
Raw Data
TSX:PFB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in CAD CA$8.90
TSX:PFB Share Price * TSX (2019-11-11) in CAD CA$12.4
North America Building Industry PB Ratio Median Figure of 39 Publicly-Listed Building Companies 2.09x
Canada Market PB Ratio Median Figure of 2,291 Publicly-Listed Companies 1.28x
TSX:PFB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:PFB Share Price ÷ Book Value per Share (both in CAD)

= 12.4 ÷ 8.90

1.39x

* Primary Listing of PFB.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PFB is good value based on assets compared to the North America Building industry average.
X
Value checks
We assess PFB's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Building industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Building industry average (and greater than 0)? (1 check)
  5. PFB has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is PFB expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
16.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PFB expected to grow at an attractive rate?
  • PFB's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • PFB's earnings growth is expected to exceed the Canada market average.
  • PFB's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:PFB Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:PFB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 16.5%
TSX:PFB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 6%
North America Building Industry Earnings Growth Rate Market Cap Weighted Average 20.3%
North America Building Industry Revenue Growth Rate Market Cap Weighted Average 4.2%
Canada Market Earnings Growth Rate Market Cap Weighted Average 11.2%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:PFB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:PFB Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 142 13 9 3
2019-12-31 133 16 8 2
2019-11-11
TSX:PFB Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-09-30 132 16 7
2019-06-30 134 16 7
2019-03-31 131 16 6
2018-12-31 128 10 6
2018-09-30 121 10 5
2018-06-30 110 7 4
2018-03-31 107 5 2
2017-12-31 106 8 2
2017-09-30 103 6 2
2017-06-30 103 6 3
2017-03-31 102 6 4
2016-12-31 102 8 5

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PFB's earnings are expected to grow by 16.5% yearly, however this is not considered high growth (20% yearly).
  • PFB's revenue is expected to grow by 6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:PFB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from PFB Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:PFB Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 1.29 1.29 1.29 1.00
2019-12-31 1.08 1.08 1.08 1.00
2019-11-11
TSX:PFB Past Financials Data
Date (Data in CAD Millions) EPS *
2019-09-30 1.10
2019-06-30 1.08
2019-03-31 0.85
2018-12-31 0.92
2018-09-30 0.79
2018-06-30 0.53
2018-03-31 0.37
2017-12-31 0.34
2017-09-30 0.33
2017-06-30 0.39
2017-03-31 0.59
2016-12-31 0.70

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if PFB will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess PFB's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the North America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the North America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
PFB has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has PFB performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare PFB's growth in the last year to its industry (Building).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • PFB's year on year earnings growth rate has been positive over the past 5 years.
  • PFB's 1-year earnings growth exceeds its 5-year average (39.3% vs 16.6%)
  • PFB's earnings growth has exceeded the North America Building industry average in the past year (39.3% vs -4.6%).
Earnings and Revenue History
PFB's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from PFB Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:PFB Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 131.69 7.43 21.22
2019-06-30 134.19 7.25 20.02
2019-03-31 131.41 5.72 19.80
2018-12-31 128.35 6.19 19.48
2018-09-30 121.11 5.33 18.82
2018-06-30 110.38 3.59 18.28
2018-03-31 107.12 2.47 18.07
2017-12-31 105.56 2.28 17.82
2017-09-30 102.57 2.19 17.23
2017-06-30 102.76 2.60 17.16
2017-03-31 101.86 3.95 16.74
2016-12-31 101.53 4.69 16.41
2016-09-30 100.92 4.38 16.18
2016-06-30 101.93 4.66 15.74
2016-03-31 100.76 5.01 15.63
2015-12-31 99.14 5.09 15.27
2015-09-30 99.71 5.37 15.17
2015-06-30 97.28 4.71 14.83
2015-03-31 93.03 2.68 14.04
2014-12-31 89.91 0.92 13.86
2014-09-30 86.03 0.26 13.41
2014-06-30 84.12 -0.36 13.24
2014-03-31 83.75 -0.14 13.24
2013-12-31 84.55 6.83 13.16
2013-09-30 80.91 6.20 12.84
2013-06-30 78.71 5.58 12.90
2013-03-31 80.71 6.02 13.02
2012-12-31 82.08 0.13 13.22

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • PFB has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • PFB used its assets less efficiently than the North America Building industry average last year based on Return on Assets.
  • PFB has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess PFB's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Building industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
PFB has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is PFB's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up PFB's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PFB is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • PFB's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of PFB's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 6.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from PFB Company Filings, last reported 1 month ago.

TSX:PFB Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 59.57 8.31 20.58
2019-06-30 56.98 8.39 14.36
2019-03-31 54.79 8.48 11.92
2018-12-31 56.64 8.57 16.94
2018-09-30 54.08 8.65 11.42
2018-06-30 51.69 12.10 8.22
2018-03-31 50.24 13.44 7.51
2017-12-31 50.83 8.91 12.18
2017-09-30 49.96 8.99 7.21
2017-06-30 49.66 10.40 4.65
2017-03-31 50.07 11.33 4.92
2016-12-31 51.65 0.00 17.17
2016-09-30 50.44 0.00 13.97
2016-06-30 48.59 0.00 10.54
2016-03-31 47.24 0.00 9.18
2015-12-31 48.67 0.00 16.25
2015-09-30 47.76 0.00 13.06
2015-06-30 45.03 0.00 8.64
2015-03-31 43.65 0.00 6.55
2014-12-31 42.62 0.00 8.93
2014-09-30 41.49 0.00 5.09
2014-06-30 39.79 0.00 2.68
2014-03-31 40.62 0.00 1.91
2013-12-31 42.38 0.00 8.94
2013-09-30 42.15 0.00 6.28
2013-06-30 41.63 0.00 4.43
2013-03-31 48.77 0.00 10.38
2012-12-31 43.05 6.41 1.70
  • PFB's level of debt (13.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 13.9% today).
  • Debt is well covered by operating cash flow (193.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 19.3x coverage).
X
Financial health checks
We assess PFB's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. PFB has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is PFB's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.9%
Current annual income from PFB dividends. Estimated to be 6.9% next year.
If you bought CA$2,000 of PFB shares you are expected to receive CA$58 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • PFB's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.03%).
  • PFB's dividend is below the markets top 25% of dividend payers in Canada (5.73%).
Upcoming dividend payment

Purchase PFB before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:PFB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
North America Building Industry Average Dividend Yield Market Cap Weighted Average of 17 Stocks 1.7%
Canada Market Average Dividend Yield Market Cap Weighted Average of 330 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:PFB Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.36 1.00
2019-12-31 1.35 1.00
2019-11-11
TSX:PFB Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-10-24 0.360 3.118
2019-07-25 0.360 3.410
2019-05-09 0.360 3.275
2019-02-01 0.320 2.952
2018-10-25 0.320 3.374
2018-10-15 0.320 3.736
2018-05-10 0.320 3.786
2018-02-01 0.320 3.792
2017-10-20 0.320 3.500
2017-07-27 0.280 3.337
2017-05-11 0.280 3.150
2017-02-02 0.280 3.012
2016-10-27 0.280 3.163
2016-07-28 0.280 3.196
2016-05-05 0.280 3.021
2016-01-29 0.240 2.689
2015-10-27 0.240 2.541
2015-07-28 0.240 2.687
2015-05-06 0.240 3.661
2015-02-04 0.240 4.318
2014-10-30 0.240 5.636
2014-07-29 0.240 5.525
2014-05-08 0.240 4.846
2014-01-22 0.240 4.441
2013-11-05 0.240 4.840
2013-07-31 0.240 4.584
2013-05-09 0.240 4.476
2013-02-06 0.240 3.927
2012-11-06 0.240 4.150
2012-08-03 0.240 3.430
2012-05-02 0.240 3.591
2012-02-06 0.240 4.022
2011-10-28 0.240 4.045
2011-07-29 0.240 4.525
2011-05-04 0.240 4.106
2011-02-01 0.240 3.828
2010-11-04 0.240 4.160
2010-07-29 0.240 4.183
2010-05-05 0.240 3.989
2010-02-03 0.240 3.784
2009-11-04 0.240 3.825
2009-08-04 0.240 5.385
2009-05-01 0.240 6.662
2009-01-30 0.240 6.145

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of PFB's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.2x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess PFB's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can PFB afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PFB has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of PFB's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Robert Graham
COMPENSATION CA$518,067
TENURE AS CEO 1.7 years
CEO Bio

Mr. Robert Graham has been Chief Executive Officer at PFB Corporation since March 8, 2018. Mr. Graham joined PFB Corporation in 2016 and has held several positions throughout the past two years, most recently Executive Vice President. Mr. Robert Graham served as Vice President of Corporate Development at PFB Corporation from October 27, 2016 to March 2018.

CEO Compensation
  • Robert's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Robert's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the PFB management team in years:

1.7
Average Tenure
  • The average tenure for the PFB management team is less than 2 years, this suggests a new team.
Management Team

C. Smith

TITLE
Executive Chairman
COMPENSATION
CA$350K
TENURE
1.7 yrs

Robert Graham

TITLE
Chief Executive Officer
COMPENSATION
CA$518K
TENURE
1.7 yrs

Mirko Papuga

TITLE
Chief Financial Officer
COMPENSATION
CA$314K
TENURE
3.5 yrs

Red Ortega

TITLE
Chief Information Officer
COMPENSATION
CA$205K
TENURE
6.5 yrs

Marc Brisebois

TITLE
Vice President of Sales
COMPENSATION
CA$230K

James Banner

TITLE
Division President
COMPENSATION
CA$311K

Bill Smith

TITLE
Corporate Secretary & Director
COMPENSATION
CA$21K
AGE
66

David Carr

TITLE
Senior Vice President
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the PFB board of directors in years:

14.4
Average Tenure
70
Average Age
  • The average tenure for the PFB board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Bill Smith

TITLE
Corporate Secretary & Director
COMPENSATION
CA$21K
AGE
66
TENURE
27.8 yrs

Gordon Tallman

TITLE
Corporate Director
COMPENSATION
CA$25K
AGE
76
TENURE
17.8 yrs

C. Smith

TITLE
Executive Chairman
COMPENSATION
CA$350K

John Read

TITLE
Independent Director
COMPENSATION
CA$21K
AGE
70
TENURE
14.4 yrs

Bruce Carruthers

TITLE
Corporate Director
COMPENSATION
CA$365K
TENURE
27.8 yrs

Donald Douglas

TITLE
Independent Director
COMPENSATION
CA$21K
TENURE
14.4 yrs

Vanessa Rennie

TITLE
Corporate Director
TENURE
4.1 yrs

Leslie Lundquist

TITLE
Independent Director
COMPENSATION
CA$32K
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
23. Mar 19 Sell Frank Baker Individual 19. Mar 19 19. Mar 19 -5,800 CA$11.79 CA$-68,378
X
Management checks
We assess PFB's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. PFB has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

How Did PFB Corporation's (TSE:PFB) 13% ROE Fare Against The Industry?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for PFB: 13% = CA$7.2m ÷ CA$57m (Based on the trailing twelve months to June 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Shareholders' equity can be calculated by subtracting the total liabilities of the company from the total assets of the company. … In my book the highest quality companies have high return on equity, despite low debt.

Simply Wall St -

Should You Be Adding PFB (TSE:PFB) To Your Watchlist Today?

I like to take a look at earnings before interest and (EBIT) tax margins, as well as revenue growth, to get another take on the quality of the company's growth. … PFB shareholders can take confidence from the fact that EBIT margins are up from 5.2% to 8.8%, and revenue is growing. … If you like to see insider buying, too, then this free list of growing companies that insiders are buying, could be exactly what you're looking for.

Simply Wall St -

PFB Corporation (TSE:PFB) Looks Like A Good Stock, And It's Going Ex-Dividend Soon

PFB's upcoming dividend is CA$0.09 a share, following on from the last 12 months, when the company distributed a total of CA$0.36 per share to shareholders. … We'd take that over an earnings decline any day, but in the long run, the best dividend stocks all grow their earnings per share. … We would prefer to see earnings growing faster, but the best dividend stocks over the long term typically combine strong earnings per share growth with a low payout ratio, and PFB is halfway there.

Simply Wall St -

Are Insiders Selling PFB Corporation (TSE:PFB) Stock?

It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' View our latest analysis for PFB PFB Insider Transactions Over The Last Year In the last twelve months, the biggest single sale by an insider was when the insider, Frank Baker, sold CA$68k worth of shares at a price of CA$11.79 per share. … Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term.

Simply Wall St -

Is PFB's (TSE:PFB) Share Price Gain Of 140% Well Earned?

By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Given that the company made a profit three years ago, but not five years ago, it is worth looking at the share price returns over the last three years, too. … We note that for PFB the TSR over the last 5 years was 187%, which is better than the share price return mentioned above.

Simply Wall St -

Is PFB Corporation (TSE:PFB) A Smart Pick For Income Investors?

Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. … Dividend Volatility From the perspective of an income investor who wants to earn dividends for many years, there is not much point buying a stock if its dividend is regularly cut or is not reliable. … Dividend Growth Potential Dividend payments have been consistent over the past few years, but we should always check if earnings per share (EPS) are growing, as this will help maintain the purchasing power of the dividend. In the last five years, PFB's earnings per share have shrunk at approximately 3.5% per annum. If earnings continue to decline, the dividend may come under pressure. Every investor should make an assessment of whether the company is taking steps to stabilise the situation. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing.

Simply Wall St -

How Much Of PFB Corporation (TSE:PFB) Do Institutions Own?

Taking a look at our data on the ownership groups (below), it's seems that institutions own shares in the company. … Insider Ownership Of PFB The definition of company insiders can be subjective, and does vary between jurisdictions. … In their own names, insiders own CA$2.0m worth of stock in the CA$72m company.

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand PFB Corporation (TSE:PFB)

The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for PFB: P/E of 12.91 = CA$11 ÷ CA$0.85 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good? … Earnings growth means that in the future the 'E' will be higher. … The low P/E ratio suggests current market expectations are muted, implying these levels of growth will not continue.

Simply Wall St -

These Factors Make PFB Corporation (TSE:PFB) An Interesting Investment

Help shape the future of investing tools and you could win a $250 gift card! … PFB Corporation (TSE:PFB) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects.

Simply Wall St -

Did Business Growth Power PFB's (TSE:PFB) Share Price Gain of 101%?

One great example is PFB Corporation (TSE:PFB) which saw its share price drive 101% higher over five years. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics.

Simply Wall St -

Company Info

Description

PFB Corporation manufactures and markets insulating building products made from expanded polystyrene materials (EPS) for the residential, industrial, and commercial construction markets in the North America. The company offers EPS rigid foam boards used in insulating roofs, floors, and walls; flotation and buoyancy products; geotechnical engineered applications; packaging and display products; and building systems under the Plasti-Fab brand name. It also provides structural insulating panel systems products used in various residential and commercial building envelope applications, including roofs, walls, and floors; and SIP blanks used as raw materials in the products of original equipment manufacturers under the Insulspan brand. In addition, the company offers timber frame structures under the Riverbend brand; and handcrafted log, timber frame, hybrid log, timber, post and beam, and milled log options under the PrecisionCraft brand. Further, it provides design services for various building styles under the M.T.N. Design brand; energy efficient homes under the PointZero brand; custom luxury outdoor wooden structures made of log or timber materials under the TimberScape brand; and insulating concrete forming system foundation under the Advantage brand. The company sells its products directly through sales representatives, as well as through independent sales agents, and registered dealers and distributors in Canada and the United States. PFB Corporation was founded in 1968 and is headquartered in Calgary, Canada.

Details
Name: PFB Corporation
PFB
Exchange: TSX
Founded: 1968
CA$82,968,437
6,691,003
Website: http://www.pfbcorp.com
Address: PFB Corporation
2891 Sunridge Way NE,
Suite 300,
Calgary,
Alberta, T1Y 7K7,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX PFB Common Shares The Toronto Stock Exchange CA CAD 17. Jun 1987
OTCPK PFBO.F Common Shares Pink Sheets LLC US USD 17. Jun 1987
Number of employees
Current staff
Staff numbers
430
PFB employees.
Industry
Building Products
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/11 23:42
End of day share price update: 2019/11/11 00:00
Last estimates confirmation: 2019/10/28
Last earnings filing: 2019/10/24
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.