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Premium Brands Holdings

TSX:PBH
Snowflake Description

Established dividend payer and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PBH
TSX
CA$3B
Market Cap
  1. Home
  2. CA
  3. Food, Beverage & Tobacco
Company description

Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. The last earnings update was 24 days ago. More info.


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  • Premium Brands Holdings has significant price volatility in the past 3 months.
PBH Share Price and Events
7 Day Returns
5.1%
TSX:PBH
5.1%
CA Food
3%
CA Market
1 Year Returns
-6%
TSX:PBH
-25.6%
CA Food
-24.5%
CA Market
PBH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Premium Brands Holdings (PBH) 5.1% -21.7% -20.2% -6% -10.9% 143.4%
CA Food 5.1% -9.5% -14.2% -25.6% -27.9% -6.5%
CA Market 3% -21.2% -24.4% -24.5% -21.9% -16.6%
1 Year Return vs Industry and Market
  • PBH outperformed the Food industry which returned -25.6% over the past year.
  • PBH outperformed the Market in Canada which returned -24.5% over the past year.
Price Volatility
PBH
Industry
5yr Volatility vs Market

PBH Value

 Is Premium Brands Holdings 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 Premium Brands Holdings 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 Premium Brands Holdings.

TSX:PBH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

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:PBH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Food Unlevered Beta Simply Wall St/ S&P Global 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.566 (1 + (1- 26.5%) (49.09%))
0.846
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (0.846 * 5.44%)
6.04%

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

The calculations below outline how an intrinsic value for Premium Brands Holdings 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:PBH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 6.04%)
2020 150.88 Analyst x5 142.28
2021 193.05 Analyst x4 171.67
2022 224.39 Est @ 16.23% 188.16
2023 250.86 Est @ 11.8% 198.37
2024 272.65 Est @ 8.69% 203.31
2025 290.42 Est @ 6.51% 204.21
2026 304.91 Est @ 4.99% 202.19
2027 316.89 Est @ 3.93% 198.15
2028 326.96 Est @ 3.18% 192.79
2029 335.66 Est @ 2.66% 186.64
Present value of next 10 years cash flows CA$1,887.00
TSX:PBH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$335.66 × (1 + 1.44%) ÷ (6.04% – 1.44%)
CA$7,394.17
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$7,394.17 ÷ (1 + 6.04%)10
CA$4,111.44
TSX:PBH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$1,887.00 + CA$4,111.44
CA$5,998.44
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$5,998.44 / 37.41
CA$160.33
TSX:PBH Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$160.33
Current discount Discount to share price of CA$72.69
= -1 x (CA$72.69 - CA$160.33) / CA$160.33
54.7%

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

Current Discount
Amount off the current price Premium Brands Holdings is available for.
Intrinsic value
>50%
Share price is CA$72.69 vs Future cash flow value of CA$160.33
Current Discount Checks
For Premium Brands Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Premium Brands Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Premium Brands Holdings'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 Premium Brands Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Premium Brands Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:PBH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-28) in CAD CA$2.35
TSX:PBH Share Price ** TSX (2020-04-03) in CAD CA$72.69
Canada Food Industry PE Ratio Median Figure of 10 Publicly-Listed Food Companies 11.44x
Canada Market PE Ratio Median Figure of 497 Publicly-Listed Companies 10.56x

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

** Primary Listing of Premium Brands Holdings.

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

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

= 72.69 ÷ 2.35

30.91x

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

  • Premium Brands Holdings is overvalued based on earnings compared to the CA Food industry average.
  • Premium Brands Holdings is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Premium Brands Holdings's expected growth come at a high price?
Raw Data
TSX:PBH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 30.91x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
Not available
North America Food Industry PEG Ratio Median Figure of 33 Publicly-Listed Food Companies 1.56x
Canada Market PEG Ratio Median Figure of 232 Publicly-Listed Companies 0.68x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Premium Brands Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Premium Brands Holdings's assets?
Raw Data
TSX:PBH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-28) in CAD CA$28.72
TSX:PBH Share Price * TSX (2020-04-03) in CAD CA$72.69
Canada Food Industry PB Ratio Median Figure of 26 Publicly-Listed Food Companies 0.85x
Canada Market PB Ratio Median Figure of 2,358 Publicly-Listed Companies 0.98x
TSX:PBH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 72.69 ÷ 28.72

2.53x

* Primary Listing of Premium Brands Holdings.

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

  • Premium Brands Holdings is overvalued based on assets compared to the CA Food industry average.
X
Value checks
We assess Premium Brands Holdings'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 Food 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 Food industry average (and greater than 0)? (1 check)
  5. Premium Brands Holdings has a total score of 2/6, 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.

PBH Future Performance

 How is Premium Brands Holdings expected to perform in the next 1 to 3 years based on estimates from 9 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
6.5%
Expected annual growth in revenue.
Earnings growth vs Low Risk Savings
Is Premium Brands Holdings expected to grow at an attractive rate?
  • Unable to compare Premium Brands Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Premium Brands Holdings's earnings growth to the Canada market average as no estimate data is available.
  • Premium Brands Holdings's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:PBH Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:PBH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 6.5%
North America Food Industry Earnings Growth Rate Market Cap Weighted Average 12%
Canada Food Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Canada Market Earnings Growth Rate Market Cap Weighted Average 5.1%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.4%

*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:PBH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:PBH Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 4,386 2
2021-12-31 4,205 238 9
2020-12-31 3,912 248 9
2020-04-05
2019-12-31 3,625 199 9
TSX:PBH Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-28 3,649 164 84
2019-09-28 3,534 187 86
2019-06-29 3,401 132 95
2019-03-30 3,218 152 95
2018-12-29 3,026 136 98
2018-09-29 2,767 118 97
2018-06-30 2,489 86 82
2018-03-31 2,305 43 78
2017-12-30 2,198 86 81
2017-09-30 2,146 107 83
2017-07-01 2,069 128 83
2017-04-01 1,955 149 75
2016-12-31 1,858 150 69

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Premium Brands Holdings is high growth as no earnings estimate data is available.
  • Premium Brands Holdings's revenue is expected to grow by 6.5% 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:PBH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Premium Brands Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:PBH Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2020-04-05
2019-12-31 3.07 3.07 3.07 1.00
TSX:PBH Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-28 2.35
2019-09-28 2.46
2019-06-29 2.81
2019-03-30 2.86
2018-12-29 3.02
2018-09-29 3.08
2018-06-30 2.69
2018-03-31 2.61
2017-12-30 2.70
2017-09-30 2.80
2017-07-01 2.81
2017-04-01 2.55
2016-12-31 2.39

*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.
  • Premium Brands Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Premium Brands Holdings'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 Canada 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.
Premium Brands Holdings has a total score of 1/6, 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.

PBH Past Performance

  How has Premium Brands Holdings 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 Premium Brands Holdings's growth in the last year to its industry (Food).
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.
  • Premium Brands Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Premium Brands Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Premium Brands Holdings's 1-year earnings growth is negative, it can't be compared to the CA Food industry average.
Earnings and Revenue History
Premium Brands Holdings'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 Premium Brands Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:PBH Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-28 3,649.40 84.20 427.20
2019-09-28 3,534.20 86.10 425.10
2019-06-29 3,401.40 95.40 411.40
2019-03-30 3,217.50 94.80 388.10
2018-12-29 3,025.80 98.00 354.60
2018-09-29 2,767.00 97.10 314.20
2018-06-30 2,489.10 82.30 273.20
2018-03-31 2,305.00 78.40 249.20
2017-12-30 2,198.30 80.50 235.70
2017-09-30 2,145.80 83.30 230.50
2017-07-01 2,069.20 83.30 222.20
2017-04-01 1,954.70 75.00 208.70
2016-12-31 1,857.50 68.90 196.00
2016-09-24 1,725.20 62.50 182.00
2016-06-25 1,636.80 51.20 180.40
2016-03-26 1,537.20 22.30 174.80
2015-12-26 1,484.50 16.60 173.10
2015-09-26 1,386.43 5.40 164.95
2015-06-27 1,324.27 0.04 157.82
2015-03-28 1,283.22 14.31 154.35
2014-12-27 1,221.80 12.70 150.86
2014-09-27 1,197.24 11.20 149.75
2014-06-28 1,153.76 11.80 148.83
2014-03-29 1,110.43 13.39 147.85
2013-12-28 1,072.74 12.69 143.32
2013-09-28 1,036.88 14.24 140.84
2013-06-29 1,002.81 13.48 137.41

*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.
  • Premium Brands Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Premium Brands Holdings used its assets less efficiently than the CA Food industry average last year based on Return on Assets.
  • Premium Brands Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Premium Brands Holdings'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 Food 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.
Premium Brands Holdings has a total score of 1/6, 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.

PBH Health

 How is Premium Brands Holdings'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 Premium Brands Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Premium Brands Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Premium Brands Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Premium Brands Holdings'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 not covered by short term assets, assets are 0.8x 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 Premium Brands Holdings Company Filings, last reported 3 months ago.

TSX:PBH Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-28 1,071.20 999.60 18.40
2019-09-28 1,072.00 935.40 15.20
2019-06-29 1,059.10 941.10 12.00
2019-03-30 794.80 1,184.30 14.70
2018-12-29 823.90 1,133.30 19.40
2018-09-29 806.10 1,101.00 18.00
2018-06-30 747.40 943.20 15.70
2018-03-31 520.20 735.20 18.50
2017-12-30 497.70 640.20 15.10
2017-09-30 440.80 472.60 14.00
2017-07-01 427.60 456.90 30.10
2017-04-01 426.80 421.50 19.30
2016-12-31 426.40 409.40 19.40
2016-09-24 408.10 332.00 5.40
2016-06-25 371.50 369.50 4.30
2016-03-26 335.50 290.60 4.20
2015-12-26 320.30 332.20 11.30
2015-09-26 260.50 376.41 9.71
2015-06-27 247.00 338.41 7.33
2015-03-28 229.33 372.12 10.84
2014-12-27 204.57 388.49 9.45
2014-09-27 205.94 380.84 5.03
2014-06-28 201.94 360.38 3.25
2014-03-29 208.90 335.60 4.38
2013-12-28 209.50 331.68 1.44
2013-09-28 211.21 322.91 2.90
2013-06-29 201.03 327.39 2.52
  • Premium Brands Holdings's level of debt (93.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (189.2% vs 93.3% today).
  • Debt is not well covered by operating cash flow (16.4%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.9x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Premium Brands Holdings'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. Premium Brands Holdings has a total score of 2/6, 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.

PBH Dividends

 What is Premium Brands Holdings'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
3.18%
Current annual income from Premium Brands Holdings dividends. Estimated to be 3.34% next year.
If you bought CA$2,000 of Premium Brands Holdings shares you are expected to receive CA$64 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?
  • Premium Brands Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.69%).
  • Premium Brands Holdings's dividend is below the markets top 25% of dividend payers in Canada (8.7%).
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:PBH 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 9 Analyst Estimates (S&P Global) See Below
Canada Food Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 2.4%
Canada Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 4.7%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.3%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.7%

Industry and Market average data is calculated daily.

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

TSX:PBH Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 2.54 2.00
2020-12-31 2.31 2.00
2020-04-05
2019-12-31 2.10 2.00
TSX:PBH Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-03-12 2.310 3.242
2019-11-11 2.100 2.291
2019-08-13 2.100 2.262
2019-05-13 2.100 2.350
2018-11-13 1.900 2.490
2018-08-17 1.900 2.038
2018-06-22 1.900 1.761
2018-05-15 1.900 1.640
2018-03-15 1.900 1.617
2017-11-14 1.680 1.607
2017-08-14 1.680 1.668
2017-03-16 1.680 1.889
2016-11-02 1.520 2.232
2016-05-12 1.520 2.597
2016-03-10 1.520 2.753
2015-12-15 1.380 3.308
2015-09-15 1.380 3.953
2015-06-15 1.380 4.238
2015-03-12 1.380 4.589
2014-12-15 1.250 5.076
2014-09-15 1.250 5.200
2014-06-16 1.250 5.548
2014-03-17 1.250 5.855
2013-12-17 1.250 5.497
2013-09-16 1.250 6.200
2013-03-27 1.250 6.616
2013-03-14 1.176 6.553
2012-12-18 1.176 6.728
2012-09-14 1.176 6.675
2012-06-15 1.176 6.548
2012-03-15 1.176 6.634
2011-12-15 1.176 6.929
2011-09-15 1.176 7.453
2011-06-16 1.176 7.473
2011-03-15 1.176 7.009
2010-12-15 1.176 7.856
2010-09-15 1.176 8.353
2010-06-16 1.176 8.990
2010-03-18 1.176 8.602
2009-12-16 1.176 8.458
2009-09-17 1.176 10.511
2009-08-25 1.176 11.272
2009-08-06 1.176 11.966
2009-04-17 1.176 12.330

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 Premium Brands Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess Premium Brands Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Premium Brands Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Premium Brands Holdings has a total score of 5/6, see the detailed checks below.


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

PBH Management

 What is the CEO of Premium Brands Holdings'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
George Paleologou
COMPENSATION CA$2,648,280
AGE 58
TENURE AS CEO 11.9 years
CEO Bio

Mr. George Paleologou, CA has been Chief Executive Officer of Premium Brands Holdings Corporation (alternate name Premium Brands Inc.) since May 2008. Prior to that he was President of Premium Brands Holdings Corp or its predecessors from July 2001 to May 2008. Mr. Paleologou served as Chief Executive Officer and Acting Chief Executive Officer of Premium Brands Operating GP Inc. He served as President of Premium Brands Operating GP Inc. from July 2005 to May 2008. He also served as Vice President and Chief Financial Officer of Premium Brands Inc. from November 1995 to October 2000. He served as Chief Executive Officer of Direct Plus Food Group Ltd. from October, 2000 to July, 2001. He joined Premium Brands Inc. as its Corporate Controller in 1987. He served with KPMG LLP. Mr. Paleologou was employed at Fletcher's Fine Foods Ltd. He served as Chief Executive Officer and President of Thallion Pharmaceuticals, Inc. since May 2008. He has been a Non-Independent Director of Premium Brands Holdings Corporation since July 2001. He serves as a Trustee of Rainmaker Income Fund. He served as a Director of Thallion Pharmaceuticals, Inc. since July 2005. He served as a Trustee of Premium Brands Holdings Corporation from July 27, 2005 to July 2009 and Rainmaker Entertainment Inc. from December 2005 to June 2008. Mr. Paleologou holds a Bachelor of Business Administration degree from Simon Fraser University and is a Chartered Accountant.

CEO Compensation
  • George's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • George's remuneration is about average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Premium Brands Holdings management team in years:

20.3
Average Tenure
59
Average Age
  • The average tenure for the Premium Brands Holdings management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

George Paleologou

TITLE
President
COMPENSATION
CA$3M
AGE
58
TENURE
11.9 yrs

Will Kalutycz

TITLE
Chief Financial Officer
COMPENSATION
CA$2M
AGE
54
TENURE
20.3 yrs

Irv Teper

TITLE
Chief Executive Officer of Concord Premium Meats Ltd.
COMPENSATION
CA$773K

Tom Hernquist

TITLE
Chief Executive Officer of Oberto Snacks Inc.
COMPENSATION
CA$592K

Joe Mannara

TITLE
President of Concord Premium Meats Ltd.
COMPENSATION
CA$773K

Doug Goss

TITLE
General Counsel & Corporate Secretary
AGE
60
TENURE
21.3 yrs

Kevin Kelly

TITLE
Chief Operating Officer of Quality Fast Foods

Kenn Propp

TITLE
President of PB Premium Processed Meats Group
COMPENSATION
CA$556K

Ron Kleijn

TITLE
President of Premium Brands Bakery Group
COMPENSATION
CA$225K

Steve Bates

TITLE
President of Hempler Foods Group
COMPENSATION
CA$374K
AGE
61
Board of Directors Tenure

Average tenure and age of the Premium Brands Holdings board of directors in years:

12.9
Average Tenure
61
Average Age
  • The average tenure for the Premium Brands Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Bruce Hodge

TITLE
Independent Chairman
COMPENSATION
CA$244K
AGE
66
TENURE
12.9 yrs

George Paleologou

TITLE
President
COMPENSATION
CA$3M
AGE
58
TENURE
14.8 yrs

Richard Hempler

TITLE
Chairman of Hempler Foods Group

Johnny Ciampi

TITLE
Independent Director
COMPENSATION
CA$120K
AGE
48
TENURE
14.8 yrs

Hugh McKinnon

TITLE
Independent Director
COMPENSATION
CA$136K
AGE
60
TENURE
13.3 yrs

John Zaplatynsky

TITLE
Independent Director
COMPENSATION
CA$126K
AGE
72
TENURE
12.9 yrs

Kathleen Keller-Hobson

TITLE
Independent Director
COMPENSATION
CA$117K
AGE
62
TENURE
4.9 yrs

Sean Cheah

TITLE
Director
TENURE
0.4 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$) Value (CA$)
16. Aug 19 Buy Douglas Goss Individual 15. Aug 19 15. Aug 19 145 CA$95.41 CA$13,834
23. May 19 Buy Douglas Goss Individual 23. May 19 23. May 19 560 CA$85.54 CA$47,902
X
Management checks
We assess Premium Brands Holdings'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. Premium Brands Holdings 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.

PBH News

Simply Wall St News

Is Premium Brands Holdings Corporation's (TSE:PBH) CEO Paid At A Competitive Rate?

See our latest analysis for Premium Brands Holdings How Does George Paleologou's Compensation Compare With Similar Sized Companies? … At the time of writing our data says that Premium Brands Holdings Corporation has a market cap of CA$3.7b, and is paying total annual CEO compensation of CA$2.6m. … Boasting a total shareholder return of 64% over three years, Premium Brands Holdings Corporation has done well by shareholders.

Simply Wall St -

Why Premium Brands Holdings Corporation (TSE:PBH) Could Have A Place In Your Portfolio

I've been keeping an eye on Premium Brands Holdings Corporation (TSE:PBH) because I'm attracted to its fundamentals. … Reasonable growth potential average dividend payer TSX:PBH Past and Future Earnings, August 23rd 2019 PBH is also a dividend company, with ample net income to cover its dividend payout, which has been consistently growing over the past decade, keeping income investors happy. … TSX:PBH Historical Dividend Yield, August 23rd 2019 Next Steps: For Premium Brands Holdings, I've put together three fundamental factors you should further examine: Historical Performance: What has PBH's returns been like over the past?

Simply Wall St -

An Intrinsic Calculation For Premium Brands Holdings Corporation (TSE:PBH) Suggests It's 48% Undervalued

Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (CA$, Millions) CA$169.72 CA$206.64 CA$236.17 CA$261.18 CA$282.06 CA$299.50 CA$314.21 CA$326.84 CA$337.95 CA$347.97 Growth Rate Estimate Source Analyst x4 Analyst x5 Est @ 14.29% Est @ 10.59% Est @ 8% Est @ 6.18% Est @ 4.91% Est @ 4.02% Est @ 3.4% Est @ 2.96% Present Value (CA$, Millions) Discounted @ 7.31% CA$158.16 CA$179.45 CA$191.12 CA$196.96 CA$198.22 CA$196.14 CA$191.75 CA$185.88 CA$179.10 CA$171.85 Present Value of 10-year Cash Flow (PVCF)= CA$1.85b "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = CA$348m × (1 + 1.9%) ÷ (7.3% – 1.9%) = CA$6.6b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = CA$CA$6.6b ÷ ( 1 + 7.3%)10 = CA$3.27b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is CA$5.12b. … TSX:PBH Intrinsic value, May 14th 2019 The assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

Is Premium Brands Holdings Corporation (TSE:PBH) Excessively Paying Its CEO?

George Paleologou has been the CEO of Premium Brands Holdings Corporation (TSE:PBH) since 2008. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does George Paleologou's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Here's Why I Think Premium Brands Holdings (TSE:PBH) Is An Interesting Stock

In contrast to all that, I prefer to spend time on companies like Premium Brands Holdings (TSE:PBH), which has not only revenues, but also profits. … How Fast Is Premium Brands Holdings Growing Its Earnings Per Share. … Over the last three years, Premium Brands Holdings has grown earnings per share (EPS) like bamboo after rain; fast, and from a low base.

Simply Wall St -

How Much Of Premium Brands Holdings Corporation (TSE:PBH) Do Institutions Own?

The big shareholder groups in Premium Brands Holdings Corporation (TSE:PBH) have power over the company. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Premium Brands Holdings has a market capitalization of CA$2.6b, so we would expect some institutional investors to have noticed the stock.

Simply Wall St -

How Premium Brands Holdings Corporation (TSE:PBH) Could Add Value To Your Portfolio

Attractive stocks have exceptional fundamentals. … In the case of Premium Brands Holdings Corporation (TSE:PBH), there's

Simply Wall St -

Taking A Look At Premium Brands Holdings Corporation's (TSE:PBH) ROE

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Premium Brands Holdings Corporation (TSE:PBH). … Our data shows Premium Brands Holdings has a return on equity of 12% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Premium Brands Holdings Corporation's (TSE:PBH) High P/E Ratio A Problem For Investors?

To keep it practical, we'll show how Premium Brands Holdings Corporation's (TSE:PBH) P/E ratio could help you assess the value on offer. … Premium Brands Holdings has a P/E ratio of 23.79, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Shareholders Are Thrilled That The Premium Brands Holdings Share Price Increased 218%

Long term Premium Brands Holdings Corporation (TSE:PBH) shareholders would be well aware of this, since the stock is up 218% in five years. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … Over half a decade, Premium Brands Holdings managed to grow its earnings per share at 33% a year.

Simply Wall St -

PBH Company Info

Description

Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. It operates in two segments, Specialty Foods and Premium Food Distribution. The company provides meat products and snacks, deli products, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, salads and kettle products, entrees, panini, wraps, subs, hamburgers, burgers, muffins, breads, pastas, and baking and sushi products, as well as processed meat products. It is also involved in the distribution of food products, including meat, seafood, and halal food products, as well as operation of retail/convenience store and concessionary, and provision of food and seafood processing services. The company operates under the brand names of Harvest Meats, Hempler’s, Grimm’s Fine Foods, Piller’s, Freybe, Isernio’s, Expresco, SJ Fine Foods, McSweeney's, Made Rite, Fletcher's, Deli Chef, Belmont Meats, Conte Foods, SK Food Group, Oven Pride, Hygaard, Quality Fast Foods, HQ Fine Foods, Creekside Custom Foods, Stuyver's Bread, Bread Garden Express, Audrey's Patisserie, Duso's, Gourmet Chef, Island City Baking, Skilcor, Leadbetter’s, Mclean Meats, Buddy's Kitchen, Raybern's, Partner's Crackers, Shaw Bakers, Oberto, Concord Meats, Country Prime Meats, The Meat Factory, and Golden Valley Farms. It serves chains and large format retailers, independent and specialty retailers, foodservice operators, foodservice distributors, and other food manufacturers and food brokers. The company was founded in 1917 and is headquartered in Richmond, Canada.

Details
Name: Premium Brands Holdings Corporation
PBH
Exchange: TSX
Founded: 1917
CA$2,719,498,778
37,412,282
Website: http://www.premiumbrandsholdings.com
Address: Premium Brands Holdings Corporation
100 - 10991 Shellbridge Way,
Richmond,
British Columbia, V6X 3C6,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX PBH New Common Shares The Toronto Stock Exchange CA CAD 29. Nov 1996
OTCPK PRBZ.F New Common Shares Pink Sheets LLC US USD 29. Nov 1996
Number of employees
Current staff
Staff numbers
8,707
Premium Brands Holdings employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/05 02:37
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/03/31
Last earnings filing: 2020/03/12
Last earnings reported: 2019/12/28
Last annual earnings reported: 2019/12/28


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.