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Postmedia Network Canada

TSX:PNC.B
Snowflake Description

Mediocre balance sheet with poor track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PNC.B
TSX
CA$171M
Market Cap
  1. Home
  2. CA
  3. Media
Company description

Postmedia Network Canada Corp., through its subsidiary, Postmedia Network Inc., publishes daily and non-daily newspapers in Canada. The last earnings update was 24 days ago. More info.


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  • Postmedia Network Canada has significant price volatility in the past 3 months.
PNC.B Share Price and Events
7 Day Returns
0%
TSX:PNC.B
4%
CA Media
0.6%
CA Market
1 Year Returns
52.9%
TSX:PNC.B
21%
CA Media
7.2%
CA Market
PNC.B Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Postmedia Network Canada (PNC.B) 0% 4% -35.9% 52.9% 70.1% -99.4%
CA Media 4% 5.6% 8.7% 21% 21.3% 1.7%
CA Market 0.6% 3% 4.5% 7.2% 7.8% 8.2%
1 Year Return vs Industry and Market
  • PNC.B outperformed the Media industry which returned 21% over the past year.
  • PNC.B outperformed the Market in Canada which returned 7.2% over the past year.
Price Volatility
PNC.B
Industry
5yr Volatility vs Market

Value

 Is Postmedia Network Canada 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 Postmedia Network Canada 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 Postmedia Network Canada.

TSX:PNC.B Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 10.4%
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:PNC.B
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Media Unlevered Beta Simply Wall St/ S&P Global 0.77
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.769 (1 + (1- 26.5%) (149.48%))
1.411
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.41
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.411 * 5.96%)
10.36%

Discounted Cash Flow Calculation for TSX:PNC.B using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Postmedia Network Canada 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:PNC.B DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 10.36%)
2020 0.49 Est @ -87.89% 0.45
2021 0.19 Est @ -60.94% 0.16
2022 0.11 Est @ -42.07% 0.08
2023 0.08 Est @ -28.87% 0.05
2024 0.06 Est @ -19.62% 0.04
2025 0.06 Est @ -13.15% 0.03
2026 0.05 Est @ -8.62% 0.03
2027 0.05 Est @ -5.45% 0.02
2028 0.05 Est @ -3.23% 0.02
2029 0.05 Est @ -1.68% 0.02
Present value of next 10 years cash flows CA$0.00
TSX:PNC.B DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$0.05 × (1 + 1.95%) ÷ (10.36% – 1.95%)
CA$0.55
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$0.55 ÷ (1 + 10.36%)10
CA$0.21
TSX:PNC.B Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$0.00 + CA$0.21
CA$0.21
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$0.21 / 93.74
CA$0
TSX:PNC.B Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$0.00
Current discount Discount to share price of CA$1.82
= -1 x (CA$1.82 - CA$0.00) / CA$0.00
-82949.7%

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

  • The current share price of Postmedia Network Canada is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Postmedia Network Canada's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Postmedia Network Canada's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:PNC.B PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-08-31) in CAD CA$-0.08
TSX:PNC.B Share Price ** TSX (2019-11-04) in CAD CA$1.82
Canada Media Industry PE Ratio Median Figure of 11 Publicly-Listed Media Companies 16.34x
Canada Market PE Ratio Median Figure of 514 Publicly-Listed Companies 14.49x

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

** Primary Listing of Postmedia Network Canada.

TSX:PNC.B PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:PNC.B Share Price ÷ EPS (both in CAD)

= 1.82 ÷ -0.08

-24.14x

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

  • Postmedia Network Canada is loss making, we can't compare its value to the CA Media industry average.
  • Postmedia Network Canada is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Postmedia Network Canada's expected growth come at a high price?
Raw Data
TSX:PNC.B PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -24.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Canada Media Industry PEG Ratio Median Figure of 5 Publicly-Listed Media Companies 21.38x
Canada Market PEG Ratio Median Figure of 236 Publicly-Listed Companies 1.01x

*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 Postmedia Network Canada, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Postmedia Network Canada's assets?
Raw Data
TSX:PNC.B PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-08-31) in CAD CA$-1.46
TSX:PNC.B Share Price * TSX (2019-11-04) in CAD CA$1.82
Canada Media Industry PB Ratio Median Figure of 18 Publicly-Listed Media Companies 0.71x
Canada Market PB Ratio Median Figure of 2,290 Publicly-Listed Companies 1.29x
TSX:PNC.B PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:PNC.B Share Price ÷ Book Value per Share (both in CAD)

= 1.82 ÷ -1.46

-1.25x

* Primary Listing of Postmedia Network Canada.

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

  • Postmedia Network Canada has negative assets, we can't compare the value of its assets to the CA Media industry average.
X
Value checks
We assess Postmedia Network Canada'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 Media 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 Media industry average (and greater than 0)? (1 check)
  5. Postmedia Network Canada has a total score of 0/6, 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 Postmedia Network Canada expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Postmedia Network Canada has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
4.7%
Expected Media industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Postmedia Network Canada expected to grow at an attractive rate?
  • Unable to compare Postmedia Network Canada's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Postmedia Network Canada's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare Postmedia Network Canada's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSX:PNC.B Future Growth Rates Data Sources
Data Point Source Value (per year)
Canada Media Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Canada Media Industry Revenue Growth Rate Market Cap Weighted Average 2.4%
Canada Market Earnings Growth Rate Market Cap Weighted Average 9.7%
Canada Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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:PNC.B Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:PNC.B Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-08-31 620 9 -7
2019-05-31 633 30 -38
2019-02-28 647 30 -46
2018-11-30 659 24 -41
2018-08-31 676 27 -34
2018-05-31 694 1 -9
2018-02-28 713 -11 18
2017-11-30 732 -1 -9
2017-08-31 754 -36 1
2017-05-31 759 -42 -109
2017-02-28 788 -24 -144
2016-11-30 820 -42 -341

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Postmedia Network Canada is high growth as no earnings estimate data is available.
  • Unable to determine if Postmedia Network Canada is high growth as no revenue estimate data is available.
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:PNC.B Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Postmedia Network Canada Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:PNC.B Past Financials Data
Date (Data in CAD Millions) EPS *
2019-08-31 -0.08
2019-05-31 -0.40
2019-02-28 -0.49
2018-11-30 -0.44
2018-08-31 -0.36
2018-05-31 -0.09
2018-02-28 0.19
2017-11-30 -0.10
2017-08-31 0.01
2017-05-31 -1.23
2017-02-28 -2.19
2016-11-30 -21.29

*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 Postmedia Network Canada will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of PNC.B’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. Postmedia Network Canada's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Media companies here
  3. Postmedia Network Canada's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Postmedia Network Canada'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 Canada 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.
Postmedia Network Canada has a total score of 0/6, 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 Postmedia Network Canada 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 Postmedia Network Canada's growth in the last year to its industry (Media).
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.
  • Postmedia Network Canada does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Postmedia Network Canada's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Postmedia Network Canada's 1-year growth to the CA Media industry average as it is not currently profitable.
Earnings and Revenue History
Postmedia Network Canada'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 Postmedia Network Canada Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:PNC.B Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-08-31 619.64 -7.07 120.89
2019-05-31 632.71 -37.82 122.83
2019-02-28 646.70 -45.68 125.18
2018-11-30 658.58 -41.06 127.67
2018-08-31 676.29 -33.87 131.69
2018-05-31 694.43 -8.60 136.52
2018-02-28 713.40 18.07 141.36
2017-11-30 732.49 -9.13 146.20
2017-08-31 754.26 0.84 149.93
2017-05-31 759.35 -109.22 153.30
2017-02-28 787.64 -144.04 156.48
2016-11-30 820.06 -340.71 159.77
2016-08-31 860.38 -360.69 162.78
2016-05-31 908.71 -307.13 165.11
2016-02-29 895.49 -424.29 158.22
2015-11-30 831.85 -257.38 140.59
2015-08-31 750.28 -263.41 122.86
2015-05-31 666.86 -259.07 105.37
2015-02-28 632.75 -138.84 97.68
2014-11-30 649.79 -105.91 99.95
2014-08-31 674.26 -107.46 101.79
2014-05-31 696.76 -105.61 102.80
2014-02-28 717.56 -188.26 104.36
2013-11-30 733.89 -178.74 106.02
2013-08-31 751.58 -160.23 107.91
2013-05-31 772.40 -140.66 101.89
2013-02-28 792.64 -49.55 115.23
2012-11-30 812.46 -44.85 119.36

*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.
  • It is difficult to establish if Postmedia Network Canada has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • Postmedia Network Canada used its assets more efficiently than the CA Media industry average last year based on Return on Assets.
  • It is difficult to establish if Postmedia Network Canada improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Postmedia Network Canada'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 Media 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.
Postmedia Network Canada 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.

Health

 How is Postmedia Network Canada'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 Postmedia Network Canada's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Postmedia Network Canada is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Postmedia Network Canada's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Postmedia Network Canada'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.
  • Postmedia Network Canada has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
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 Postmedia Network Canada Company Filings, last reported 2 months ago.

TSX:PNC.B Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-08-31 -136.41 255.01 15.46
2019-05-31 -149.01 247.71 13.05
2019-02-28 -111.46 253.86 18.47
2018-11-30 -99.99 267.17 11.78
2018-08-31 -93.20 272.74 26.04
2018-05-31 -79.63 281.60 10.70
2018-02-28 -61.61 284.03 13.95
2017-11-30 -65.96 279.73 14.43
2017-08-31 -86.12 341.26 10.85
2017-05-31 -148.08 349.14 16.07
2017-02-28 -145.62 343.34 25.14
2016-11-30 -144.25 341.58 13.86
2016-08-31 -478.44 653.15 17.14
2016-05-31 -390.08 648.01 20.61
2016-02-29 -341.02 668.06 26.32
2015-11-30 -76.84 662.30 32.36
2015-08-31 -89.29 672.33 43.81
2015-05-31 -29.70 652.16 50.29
2015-02-28 -63.94 525.34 19.21
2014-11-30 9.55 496.02 20.23
2014-08-31 10.94 486.30 30.49
2014-05-31 77.19 484.77 56.66
2014-02-28 97.63 496.59 57.30
2013-11-30 132.22 483.70 38.69
2013-08-31 134.23 486.88 42.22
2013-05-31 127.46 484.97 56.48
2013-02-28 243.65 494.26 51.52
2012-11-30 232.80 490.17 33.23
  • Postmedia Network Canada has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Postmedia Network Canada's debt level has increased considering it has negative shareholder equity.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Postmedia Network Canada has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Postmedia Network Canada has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -100.9% per year.
X
Financial health checks
We assess Postmedia Network Canada'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. Postmedia Network Canada has a total score of 3/6, 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 Postmedia Network Canada'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
0%
Current annual income from Postmedia Network Canada dividends.
If you bought CA$2,000 of Postmedia Network Canada shares you are expected to receive CA$0 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?
  • Unable to evaluate Postmedia Network Canada's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Postmedia Network Canada's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:PNC.B 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 0 Analyst Estimates (S&P Global) See Below
Canada Media Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3%
Canada Market Average Dividend Yield Market Cap Weighted Average of 330 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
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.

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

  • Unable to perform a dividend volatility check as Postmedia Network Canada has not reported any payouts.
  • Unable to verify if Postmedia Network Canada's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Postmedia Network Canada's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Postmedia Network Canada has not reported any payouts.
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 Postmedia Network Canada's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Postmedia Network Canada afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Postmedia Network Canada has a total score of 0/6, 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 Postmedia Network Canada'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
Andrew MacLeod
COMPENSATION CA$2,201,634
TENURE AS CEO 0.8 years
CEO Bio

Mr. Andrew MacLeod has been President and Chief Executive Officer at Postmedia Network Canada Corp. since October 19, 2017 and January 2019 respectively. He serves as the President and Chief Operating Officer of Postmedia Network Inc. He has been a Director of Postmedia Network Canada Corp. and Postmedia Network Inc. since April 2019. Mr. MacLeod was Chief Operating Officer at Postmedia Network Canada Corp. and served as its Executive Vice President since July 7, 2014. He served as the Chief Commercial Officer and Executive Vice President of Postmedia Network Inc. since joining on July 7, 2014. Mr. MacLeod served as Chief Commercial Officer of Postmedia Network Canada Corp. since July 7, 2014. Mr. MacLeod joined Postmedia in July 7, 2014. He served as Senior Vice President, Managing Director, Managing Director for Canada Region and North America Managing Director of North America at BlackBerry Limited (formerly, Research In Motion Limited). He has worked at OnX Enterprise Solutions and Xerox Canada.

CEO Compensation
  • Andrew's compensation has increased whilst company is loss making.
  • Andrew's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Postmedia Network Canada management team in years:

1.3
Average Tenure
  • The average tenure for the Postmedia Network Canada management team is less than 2 years, this suggests a new team.
Management Team

Paul Godfrey

TITLE
Executive Chairman
COMPENSATION
CA$5M
AGE
80

Andrew MacLeod

TITLE
President
COMPENSATION
CA$2M
TENURE
0.8 yrs

Brian Bidulka

TITLE
Executive VP & CFO
COMPENSATION
CA$1M
TENURE
2.3 yrs

Gillian Akai

TITLE
Executive VP
COMPENSATION
CA$896K
TENURE
1.8 yrs

Josh Merchant

TITLE
Senior Vice President of Product & Development
COMPENSATION
CA$647K

Mary Lavallee

TITLE
Executive VP & COO
TENURE
0.6 yrs

Phyllise Gelfand

TITLE
Vice President of Communications

Lorna McLeod

TITLE
Senior Vice President of Shared Services
Board of Directors Tenure

Average tenure and age of the Postmedia Network Canada board of directors in years:

2.5
Average Tenure
72
Average Age
  • The average tenure for the Postmedia Network Canada board of directors is less than 3 years, this suggests a new board.
Board of Directors

Paul Godfrey

TITLE
Executive Chairman
COMPENSATION
CA$5M
AGE
80
TENURE
2 yrs

Andrew MacLeod

TITLE
President
COMPENSATION
CA$2M
TENURE
0.6 yrs

Graham Savage

TITLE
Independent Director
COMPENSATION
CA$150K
AGE
71
TENURE
9.3 yrs

Peter Sharpe

TITLE
Lead Director
COMPENSATION
CA$133K
AGE
72
TENURE
2 yrs

Wendy Henkelman

TITLE
Independent Director
COMPENSATION
CA$150K
TENURE
3.8 yrs

Mary Junck

TITLE
Independent Director
COMPENSATION
CA$113K
AGE
72
TENURE
3.1 yrs

Daniel Rotstein

TITLE
Non-Independent Director
COMPENSATION
CA$108K
TENURE
3.1 yrs

Jen Ecker

TITLE
Independent Director
COMPENSATION
CA$117K
AGE
65
TENURE
2.5 yrs

John Bode

TITLE
Director
TENURE
1.1 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. Aug 19 Buy Chatham Asset Management Company 20. Aug 19 21. Aug 19 800 CA$2.84 CA$2,267
20. Aug 19 Buy Chatham Asset Management Company 15. Aug 19 19. Aug 19 8,700 CA$2.84 CA$23,573
05. Mar 19 Sell Leon & Toby Cooperman Foundation, Endowment Arm Company 28. Feb 19 28. Feb 19 -2,400 CA$2.66 CA$-6,390
01. Mar 19 Buy Chatham Asset Management Company 25. Feb 19 28. Feb 19 2,400 CA$2.25 CA$4,198
19. Feb 19 Buy Chatham Asset Management Company 14. Feb 19 14. Feb 19 600 CA$1.10 CA$660
11. Feb 19 Buy Leon Cooperman Individual 06. Feb 19 06. Feb 19 13,500 CA$1.00 CA$13,455
X
Management checks
We assess Postmedia Network Canada'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. Postmedia Network Canada 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

Should You Buy Postmedia Network Canada Corp (TSE:PNC.B) At This PE Ratio?

This analysis is intended to introduce important early concepts to people who are starting to invest. … and want to better understand how you can grow your money by investing in Postmedia Network Canada Corp (TSE:PNC.B). … Postmedia Network Canada Corp (TSE:PNC.B) trades with a trailing P/E of 5.2x, which is lower than the industry average of 15.8x.

Simply Wall St -

Does Postmedia Network Canada Corp's (TSX:PNCB) PE Ratio Signal A Selling Opportunity?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for PNC.B Price per share = 0.55 Earnings per share = 0.008 ∴ Price-Earnings Ratio = 0.55 ÷ 0.008 = 72.8x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … For example, if you accidentally compared lower growth firms with PNC.B, then PNC.B’s P/E would naturally be higher since investors would reward PNC.B’s higher growth with a higher price. … Alternatively, if you inadvertently compared riskier firms with PNC.B, PNC.B’s P/E would again be higher since investors would reward PNC.B’s lower risk with a higher price as well.

Simply Wall St -

Company Info

Description

Postmedia Network Canada Corp., through its subsidiary, Postmedia Network Inc., publishes daily and non-daily newspapers in Canada. The company is involved in news and information gathering and dissemination operations through various platforms, such as print, Web, tablet, and smartphone. It also operates digital media and online assets, including the canada.com and canoe.com Websites; and each newspaper’s online Website. The company was formerly known as Canwest Limited Partnership and changed its name to Postmedia Network Canada Corp. in July 2010. Postmedia Network Canada Corp. was founded in 2005 and is headquartered in Toronto, Canada.

Details
Name: Postmedia Network Canada Corp.
PNC.B
Exchange: TSX
Founded: 2005
CA$170,593,124
93,740,299
Website: http://www.postmedia.com
Address: Postmedia Network Canada Corp.
365 Bloor Street East,
12th Floor,
Toronto,
Ontario, M4W 3L4,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX PNC.B Class NC Variable Voting Shares The Toronto Stock Exchange CA CAD 14. Jun 2011
OTCPK PCDA.F Class NC Variable Voting Shares Pink Sheets LLC US USD 14. Jun 2011
TSX PNC.A Class C Voting Shares The Toronto Stock Exchange CA CAD 14. Jun 2011
BST P2MC Class C Voting Shares Boerse-Stuttgart DE EUR 14. Jun 2011
Number of employees
Current staff
Staff numbers
2,834
Postmedia Network Canada employees.
Industry
Publishing
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/17 00:25
End of day share price update: 2019/11/04 00:00
Last earnings filing: 2019/10/24
Last earnings reported: 2019/08/31
Last annual earnings reported: 2019/08/31


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.