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Quebecor

TSX:QBR.A
Snowflake Description

Solid track record average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
QBR.A
TSX
CA$9B
Market Cap
  1. Home
  2. CA
  3. Media
Company description

Quebecor Inc. operates in the telecommunications, media, and sports and entertainment businesses in Canada. The last earnings update was 9 days ago. More info.


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QBR.A Share Price and Events
7 Day Returns
5.6%
TSX:QBR.A
4%
CA Media
0.6%
CA Market
1 Year Returns
19.7%
TSX:QBR.A
21%
CA Media
7.2%
CA Market
QBR.A Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Quebecor (QBR.A) 5.6% 8.1% 9.7% 19.7% 76.9% 121.8%
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
  • QBR.A underperformed the Media industry which returned 21% over the past year.
  • QBR.A outperformed the Market in Canada which returned 7.2% over the past year.
Price Volatility
QBR.A
Industry
5yr Volatility vs Market
Related Companies

QBR.A Value

 Is Quebecor 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 Quebecor 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 Quebecor.

TSX:QBR.A Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.7%
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:QBR.A
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%) (75.71%))
1.132
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.132 * 5.96%)
8.69%

Discounted Cash Flow Calculation for TSX:QBR.A using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Quebecor 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:QBR.A DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 8.69%)
2020 590.61 Analyst x7 543.38
2021 627.65 Analyst x4 531.27
2022 655.91 Est @ 4.5% 510.78
2023 680.41 Est @ 3.74% 487.48
2024 702.17 Est @ 3.2% 462.84
2025 722.00 Est @ 2.82% 437.84
2026 740.49 Est @ 2.56% 413.14
2027 758.08 Est @ 2.38% 389.13
2028 775.12 Est @ 2.25% 366.05
2029 791.84 Est @ 2.16% 344.04
Present value of next 10 years cash flows CA$4,485.00
TSX:QBR.A DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$791.84 × (1 + 1.95%) ÷ (8.69% – 1.95%)
CA$11,965.90
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$11,965.90 ÷ (1 + 8.69%)10
CA$5,198.95
TSX:QBR.A Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$4,485.00 + CA$5,198.95
CA$9,683.95
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$9,683.95 / 254.88
CA$37.99
TSX:QBR.A Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in TSX:QBR.A represents 0.99762x of TSX:QBR.B
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99762x
Value per Share
(Listing Adjusted, CAD)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 37.99 x 0.99762
CA$37.90
Value per share (CAD) From above. CA$37.90
Current discount Discount to share price of CA$33.45
= -1 x (CA$33.45 - CA$37.90) / CA$37.90
11.7%

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

Current Discount
Amount off the current price Quebecor is available for.
Intrinsic value
12%
Share price is CA$33.45 vs Future cash flow value of CA$37.9
Current Discount Checks
For Quebecor to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Quebecor's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Quebecor's share price is below the future cash flow value, but not 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 Quebecor's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Quebecor's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:QBR.A PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in CAD CA$2.05
TSX:QBR.B Share Price ** TSX (2019-11-15) in CAD CA$33.53
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 Quebecor.

TSX:QBR.A PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 33.53 ÷ 2.05

16.34x

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

  • Quebecor is good value based on earnings compared to the CA Media industry average.
  • Quebecor is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Quebecor's expected growth come at a high price?
Raw Data
TSX:QBR.A PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.34x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
4.7%per year
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 .

TSX:QBR.A PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.34x ÷ 4.7%

3.49x

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

  • Quebecor is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Quebecor's assets?
Raw Data
TSX:QBR.A PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in CAD CA$3.57
TSX:QBR.B Share Price * TSX (2019-11-15) in CAD CA$33.53
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:QBR.A PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 33.53 ÷ 3.57

9.4x

* Primary Listing of Quebecor.

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

  • Quebecor is overvalued based on assets compared to the CA Media industry average.
X
Value checks
We assess Quebecor'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. Quebecor has a total score of 1/6, 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.

QBR.A Future Performance

 How is Quebecor expected to perform in the next 1 to 3 years based on estimates from 12 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
4.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Quebecor expected to grow at an attractive rate?
  • Quebecor's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Quebecor's earnings growth is positive but not above the Canada market average.
  • Quebecor's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:QBR.A Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:QBR.A Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 4.7%
TSX:QBR.A Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 2.5%
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:QBR.A Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:QBR.A Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 4,479 1,421 4
2020-12-31 4,378 1,369 565 12
2019-12-31 4,267 1,241 556 11
2019-11-16
TSX:QBR.A Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-09-30 4,245 1,137 524
2019-06-30 4,225 1,225 532
2019-03-31 4,206 1,271 433
2018-12-31 4,181 1,396 398
2018-09-30 4,138 1,423 351
2018-06-30 4,126 1,339 338
2018-03-31 4,126 1,334 428
2017-12-31 4,125 1,179 376
2017-09-30 4,131 1,173 432
2017-06-30 4,089 1,133 250
2017-03-31 4,043 1,041 129
2016-12-31 4,017 1,113 195

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Quebecor's earnings are expected to grow by 4.7% yearly, however this is not considered high growth (20% yearly).
  • Quebecor's revenue is expected to grow by 2.5% 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:QBR.A 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 12 Analyst Estimates (S&P Global) See Below

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

TSX:QBR.A Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 2.21 2.21 2.21 1.00
2019-12-31 2.55 2.55 2.55 1.00
2019-11-16
TSX:QBR.A Past Financials Data
Date (Data in CAD Millions) EPS *
2019-09-30 2.05
2019-06-30 2.13
2019-03-31 1.77
2018-12-31 1.66
2018-09-30 1.49
2018-06-30 1.42
2018-03-31 1.79
2017-12-31 1.55
2017-09-30 1.78
2017-06-30 1.03
2017-03-31 0.53
2016-12-31 0.80

*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.
  • Quebecor is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Quebecor'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.
Quebecor has a total score of 2/6, 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.

QBR.A Past Performance

  How has Quebecor 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 Quebecor'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.
  • Quebecor has delivered over 20% year on year earnings growth in the past 5 years.
  • Quebecor's 1-year earnings growth exceeds its 5-year average (49.4% vs 35.7%)
  • Quebecor's earnings growth has exceeded the CA Media industry average in the past year (49.4% vs -2.1%).
Earnings and Revenue History
Quebecor'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 Quebecor Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:QBR.A 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 4,244.70 524.40 698.60
2019-06-30 4,224.50 532.10 699.30
2019-03-31 4,206.30 432.90 709.30
2018-12-31 4,181.00 398.00 707.20
2018-09-30 4,138.30 351.00 704.50
2018-06-30 4,125.70 338.40 711.70
2018-03-31 4,125.60 428.40 711.20
2017-12-31 4,125.10 375.70 718.40
2017-09-30 4,131.10 431.80 724.90
2017-06-30 4,088.80 249.90 724.20
2017-03-31 4,042.70 128.70 723.90
2016-12-31 4,016.60 194.70 722.00
2016-09-30 3,989.70 37.30 721.90
2016-06-30 3,965.90 132.60 715.40
2016-03-31 3,937.20 204.00 707.30
2015-12-31 3,890.80 165.60 703.30
2015-09-30 3,821.00 127.30 694.50
2015-06-30 3,734.30 50.10 684.70
2015-03-31 3,663.50 21.90 674.50
2014-12-31 3,607.70 29.00 653.70
2014-09-30 3,254.50 249.70 514.40
2014-06-30 3,388.60 73.20 574.90
2014-03-31 3,494.00 -100.40 616.80
2013-12-31 3,647.50 -142.50 714.10
2013-09-30 4,104.10 -273.10 917.80
2013-06-30 4,136.90 -91.30 955.40
2013-03-31 4,218.30 92.80 1,018.30
2012-12-31 4,248.90 164.80 1,038.80

*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.
  • Whilst Quebecor made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • Quebecor used its assets more efficiently than the CA Media industry average last year based on Return on Assets.
  • Quebecor has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Quebecor'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.
Quebecor has a total score of 5/6, 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.

QBR.A Health

 How is Quebecor'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 Quebecor's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Quebecor's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Quebecor's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Quebecor'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 0.2x 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 Quebecor Company Filings, last reported 1 month ago.

TSX:QBR.A Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 996.60 6,328.50 24.20
2019-06-30 849.10 6,453.30 17.20
2019-03-31 694.70 6,328.90 19.70
2018-12-31 577.90 6,602.50 21.00
2018-09-30 -226.60 6,702.80 22.90
2018-06-30 -339.10 6,926.30 8.20
2018-03-31 1,335.30 6,162.70 929.30
2017-12-31 1,409.00 5,987.40 864.90
2017-09-30 1,211.80 5,908.00 740.40
2017-06-30 996.80 6,011.30 187.40
2017-03-31 831.40 6,226.40 5.70
2016-12-31 847.20 6,187.90 22.30
2016-09-30 673.60 6,215.00 32.80
2016-06-30 700.90 6,289.40 10.80
2016-03-31 693.30 6,315.60 13.60
2015-12-31 652.00 6,391.50 18.60
2015-09-30 743.90 6,398.00 18.90
2015-06-30 1,123.10 5,777.50 87.10
2015-03-31 1,085.50 6,059.40 272.00
2014-12-31 1,063.30 5,783.50 395.30
2014-09-30 1,151.10 5,658.60 453.40
2014-06-30 1,119.10 5,531.30 193.70
2014-03-31 1,754.70 5,312.70 405.50
2013-12-31 1,195.40 5,577.00 476.60
2013-09-30 1,691.60 4,950.30 353.60
2013-06-30 1,858.10 5,316.70 573.00
2013-03-31 1,947.50 4,579.80 134.80
2012-12-31 1,941.30 4,664.00 228.70
  • Quebecor's level of debt (635%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (492.1% vs 635% today).
  • Debt is not well covered by operating cash flow (18%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.4x coverage).
X
Financial health checks
We assess Quebecor'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. Quebecor has a total score of 1/6, 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.

QBR.A Dividends

 What is Quebecor'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
1.34%
Current annual income from Quebecor dividends. Estimated to be 1.78% next year.
If you bought CA$2,000 of Quebecor shares you are expected to receive CA$27 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?
  • Quebecor's pays a lower dividend yield than the bottom 25% of dividend payers in Canada (2%).
  • Quebecor's dividend is below the markets top 25% of dividend payers in Canada (5.68%).
Upcoming dividend payment

Purchase Quebecor 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:QBR.A 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 12 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.

TSX:QBR.A Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.80 1.00
2020-12-31 0.71 3.00
2019-12-31 0.41 3.00
2019-11-16
TSX:QBR.A Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-08-08 0.450 1.476
2019-05-09 0.450 1.435
2019-03-13 0.220 0.675
2018-11-08 0.220 0.740
2018-08-09 0.220 0.834
2018-05-08 0.220 0.834
2018-03-14 0.110 0.454
2017-11-09 0.110 0.458
2017-08-10 0.110 0.463
2017-05-11 0.110 0.518
2017-03-15 0.090 0.438
2016-11-03 0.090 0.476
2016-08-04 0.090 0.458
2016-05-12 0.090 0.476
2016-03-11 0.070 0.419
2016-03-09 0.070 0.430
2015-07-31 0.070 0.442
2015-05-07 0.070 0.450
2015-03-11 0.050 0.298
2014-07-31 0.050 0.335
2014-05-08 0.050 0.380
2014-03-13 0.050 0.381
2013-11-07 0.050 0.392
2013-08-15 0.050 0.414
2013-08-08 0.050 0.435
2013-03-14 0.050 0.438
2012-11-13 0.050 0.494
2012-08-09 0.050 0.582
2012-05-09 0.050 0.548
2012-03-15 0.050 0.519
2011-11-09 0.050 0.581
2011-08-10 0.050 0.606
2011-05-26 0.050 0.637
2011-03-08 0.050 0.591
2010-11-09 0.050 0.545
2010-08-11 0.050 0.575
2010-05-12 0.050 0.581
2010-03-10 0.050 0.564
2009-11-05 0.050 0.711
2009-08-06 0.050 0.823
2009-05-13 0.050 1.040
2009-02-25 0.050 1.163

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 Quebecor's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (6.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.2x coverage).
X
Income/ dividend checks
We assess Quebecor'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 Quebecor afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Quebecor 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.

QBR.A Management

 What is the CEO of Quebecor'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
Pierre Péladeau
COMPENSATION CA$2,568,930
AGE 57
TENURE AS CEO 2.8 years
CEO Bio

Mr. Pierre Karl Péladeau has been the Chief Executive Officer and President of Quebecor Inc., and Quebecor Media Inc., since February 16, 2017. Previously, Mr. Péladeau served as the Chief Executive Officer and President of Sun Media Corporation. He served as the Chief Executive Officer and President of Quebecor Inc. from March 2004 to May 15, 2013. Mr. Péladeau served as an Interim Chief Financial Officer of Quebecor Inc. since April 2009. He served as Chief Executive Officer and President of Quebecor Inc. since 1999. He served as the Chief Executive Officer and President of World Color Press Inc. from March 12, 2004 to May 11, 2006. He served as the Chief Executive Officer and President of Quebecor Media Inc., a subsidiary of Quebecor Inc. from August 18, 2000 to March 12, 2004. Mr. Péladeau’s career was shaped while working in the family enterprise and in 1985, he participated in the acquisition of Donohue Inc. He joined Quebecor as Assistant to the President in 1985. In 1991, he was appointed President of Quebecor Communications Inc. He served as President of the Media division publishing, distributing, retailing and newsprint since 1991. He played a key role in the acquisition of Maxwell Graphics. From 1997 to April 1999, he served as an Executive Vice President and Chief Operating Officer of Quebecor World Inc. During this period, he played a key role in growing Quebecor Printing and was responsible for the acquisition of Maxwell Graphics, a milestone in Quebecor Printing’s development. At the same time, he involved in the development of the Donohue pulp and paper subsidiary. Mr. Péladeau served as the Chief Executive Officer of Quebecor Media Inc. from May 11, 2006 to May 8, 2013 and served as its President. After serving as President and Chief Executive Officer of Quebecor from 1999 to 2013, Pierre Karl Péladeau returned to that position on February 16, 2017 and also became President and CEO of Quebecor Sports and Entertainment Group. He served as President of Quebecor Printing Europe since 1994. He was responsible for Quebecor Printing Inc.’s worldwide operations. In 1998, he piloted the acquisition of Sun Media Corporation, making Quebecor the second largest newspaper chain in Canada. He served as Chief Executive Officer and President of Vidéotron ltée. He joined Quebecor Inc.’s communications division in 1985 as Vice President of Operations. In 1998, he spearHeaded the acquisition of Sun Media Corporation, thus making Quebecor the second largest newspaper chain in Canada. In 2000, he was responsible for the acquisition of Le Groupe Vidéotron ltée, a company which controls cable networks, business telephony, as well as television broadcasting. He joined Quebecor’s management team at Quebecor Communications Inc., which included its publishing, distribution and retail operations, in 1985. Mr. Péladeau served as the President and Chief Executive Officer of Videotron Ltd. from July 2001 to June 2003. He has been the Chairman of the Board of Sun Media Corporation since March 2002. He served as the Chairman of the Board of Hydro-Quebec from May 15, 2013 to March 9, 2014. He served as the Chairman of TVA Group Inc. from May 8, 2013 to March 9, 2014 and previously served as its Vice Chairman until May 8, 2013. He served as the Chairman of the Board at Quebecor Media Inc., since May 8, 2013 to 2014. He served as the Chairman of the Board of Nurun Inc. since January 2000. He served as the Chairman of the Board of Videotron Ltd. Mr. Péladeau served as Vice Chairman of Quebecor Inc. from May 2013 to March 9, 2014 and as its Director from 1992 to March 9, 2014. He served as Vice Chairman of the Board of Sun Media Corporation from February 1999 to July 2001. He served as a Vice Chairman of the Board of Quebecor Inc. from December 1997 to April 1999. He served as Vice Chairman of the Board of Directors at Quebecor World Inc. from April 1999 to September 2001. He served as Vice Chairman of the Board of Directors at Quebecor Media Inc. since May 11, 2006. He serves as a Director of Fraser Institute. He has been a Director of NURUN Inc. since 2000; CF Cable TV Inc. since June 2001 and Sun Media Corporation since February 1999. Mr. Péladeau serves as a Director of Netgraphe Inc. He served as a Director of VIDEOTRON Ltd. since June 2001. He served as a Director at TVA Group Inc. from May 2007 to March 9, 2014 and previously served in the same position since 2001. He served as a Director of Quebecor Inc. from 1992 to March 10, 2014. He served as a Director of Quebecor Media Inc. since August 2000. He served as a Director of Quebecor World Inc. from 1989 to December 2008. Mr. Péladeau has Chaired numerous Boards of Directors, including LA LA LA Human Steps since 1994 until 2004, the Fondation de l’entrepreneurship since 2011 until 2014. He has also been a Member of the Board of Directors of the Conseil du patronat du Québec since 2007 until 2010 and the Fondation Lionel-Groulx since 2012 until 2014. In 2014, Pierre Karl Péladeau left the corporate world to enter politics. He ran as the Parti Québécois candidate in Saint-Jérôme riding and was elected to Québec’s National Assembly in April 2014. He became the party’s leader on May 15, 2015 and served as Leader of the Official Opposition in the National Assembly until May 2, 2016. He was educated in Montreal and Paris. He is active in many charitable and cultural organizations. He was admitted at Quebec Bar in 1988. Mr. Péladeau holds a Bachelor’s Degree in philosophy from Université du Québec à Montréal (1983) and a Bachelor’s of Law degree from Université de Montréal in 1987. Mr. Péladeau received the Québec National Assembly’s Medal of Honour in 2005 and was named a Chevalier of the Ordre de la Pléiade in 2013.

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

Average tenure and age of the Quebecor management team in years:

1.5
Average Tenure
56
Average Age
  • The average tenure for the Quebecor management team is less than 2 years, this suggests a new team.
Management Team

Pierre Péladeau

TITLE
CEO & President
COMPENSATION
CA$3M
AGE
57
TENURE
2.8 yrs

Marc Tremblay

TITLE
COO & Chief Legal Officer
COMPENSATION
CA$1M
AGE
58
TENURE
0.8 yrs

France Lauzière

TITLE
President & CEO of TVA Group and Chief Content Officer of Quebecor Content
COMPENSATION
CA$1M
AGE
52
TENURE
2.1 yrs

Hugues Simard

TITLE
Chief Financial Officer
AGE
52
TENURE
0.8 yrs

Hugo Delaney

TITLE
Vice President of Public Affairs & Communications

Jocelyn Poirier

TITLE
Senior Vice President of Corporate Development
TENURE
0.4 yrs

Douglas Bassett

TITLE
Chairman of Quebecor-Ontario Media Advisory Board
AGE
78
TENURE
14.3 yrs

Lyne Robitaille

TITLE
Senior Vice President of Newspapers
AGE
56

Martin Tremblay

TITLE
Chief Operating Officer of Sports & Entertainment Group
AGE
43
TENURE
2.3 yrs

Patrick Jutras

TITLE
Senior VP & Chief Advertising Officer
TENURE
0.2 yrs
Board of Directors Tenure

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

3.9
Average Tenure
64
Average Age
  • The tenure for the Quebecor board of directors is about average.
Board of Directors

M. Mulroney

TITLE
Chairman of the Board
COMPENSATION
CA$524K
AGE
79
TENURE
5.4 yrs

Sylvie Lalande

TITLE
Vice Chair of the Board & Lead Director
COMPENSATION
CA$313K
AGE
68

Normand Provost

TITLE
Independent Director
COMPENSATION
CA$162K
AGE
64
TENURE
6.5 yrs

Érik Péladeau

TITLE
Non-Independent Director
COMPENSATION
CA$874K
AGE
64
TENURE
4.3 yrs

Manon Brouillette

TITLE
Corporate Director
COMPENSATION
CA$3M
AGE
50
TENURE
0.5 yrs

Robert Paré

TITLE
Non-Independent Director
COMPENSATION
CA$120K
AGE
64
TENURE
5.4 yrs

André Brosseau

TITLE
Independent Director
COMPENSATION
CA$158K
AGE
57
TENURE
3.5 yrs

Chantal Bélanger

TITLE
Corporate Director
COMPENSATION
CA$88K
AGE
67
TENURE
1.5 yrs

Lise Croteau

TITLE
Corporate Director
AGE
59
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$) Value (CA$)
X
Management checks
We assess Quebecor'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. Quebecor 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.

QBR.A News

Simply Wall St News

QBR.A Company Info

Description

Quebecor Inc. operates in the telecommunications, media, and sports and entertainment businesses in Canada. Its Telecommunications segment offers television distribution, Internet access, business solutions, cable and mobile telephony, and over-the-top video services; and engages in the rental of movies, televisual products, and video games through its video-on-demand service and video rental stores. The company’s Media segment operates an over-the-air television network and offers specialty television services; provides soundstage and equipment leasing, and post-production services for the film and television industries; prints, publishes, and distributes daily newspapers; operates Internet portals and specialized Web sites; publishes and distributes magazines; distributes movies; and operates an out-of-home advertising business. Its Sports and Entertainment segment engages in the operation and management of the Videotron Centre in Québec City, as well as show production, sporting, and cultural events management; publishing and distribution of books; distribution and production of music; and operation of two Quebec Junior Hockey League teams. The company was founded in 1950 and is headquartered in Montreal, Canada.

Details
Name: Quebecor Inc.
QBR.A
Exchange: TSX
Founded: 1950
CA$8,540,100,528
254,884,541
Website: http://www.quebecor.com
Address: Quebecor Inc.
612 rue Saint-Jacques,
Montreal,
Quebec, H3C 4M8,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX QBR.B Class B Subordinate Voting Shares The Toronto Stock Exchange CA CAD 28. Oct 1986
OTCPK QBCR.F Class B Subordinate Voting Shares Pink Sheets LLC US USD 28. Oct 1986
DB QB3 Class B Subordinate Voting Shares Deutsche Boerse AG DE EUR 28. Oct 1986
TSX QBR.A Class A Multiple Voting Shares The Toronto Stock Exchange CA CAD 14. Dec 1972
Number of employees
Current staff
Staff numbers
10,039
Quebecor employees.
Industry
Cable and Satellite
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/16 23:41
End of day share price update: 2019/11/15 00:00
Last estimates confirmation: 2019/11/11
Last earnings filing: 2019/11/07
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.