Loading...

We've got a brand new version of Simply Wall St! Try it out

Shaw Communications

TSX:SJR.B
Snowflake Description

Established dividend payer with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SJR.B
TSX
CA$14B
Market Cap
  1. Home
  2. CA
  3. Media
Company description

Shaw Communications Inc. operates as a connectivity company in North America. The last earnings update was 22 days ago. More info.


Add to Portfolio Compare Print
SJR.B Share Price and Events
7 Day Returns
2.8%
TSX:SJR.B
4%
CA Media
0.6%
CA Market
1 Year Returns
7.7%
TSX:SJR.B
21%
CA Media
7.2%
CA Market
SJR.B Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Shaw Communications (SJR.B) 2.8% 4.5% 7.5% 7.7% 4.8% -10.6%
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
  • SJR.B underperformed the Media industry which returned 21% over the past year.
  • SJR.B matched the Canada Market (7.2%) over the past year.
Price Volatility
SJR.B
Industry
5yr Volatility vs Market

SJR.B Value

 Is Shaw Communications 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 Shaw Communications 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 Shaw Communications.

TSX:SJR.B Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.8%
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:SJR.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%) (37.59%))
0.988
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.99
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (0.988 * 5.96%)
7.83%

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

The calculations below outline how an intrinsic value for Shaw Communications 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:SJR.B DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 7.83%)
2020 707.02 Analyst x10 655.66
2021 721.43 Analyst x11 620.42
2022 913.20 Analyst x2 728.30
2023 1,056.61 Est @ 15.7% 781.46
2024 1,178.93 Est @ 11.58% 808.59
2025 1,281.35 Est @ 8.69% 814.99
2026 1,366.76 Est @ 6.67% 806.17
2027 1,438.51 Est @ 5.25% 786.86
2028 1,499.78 Est @ 4.26% 760.78
2029 1,553.26 Est @ 3.57% 730.67
Present value of next 10 years cash flows CA$7,493.00
TSX:SJR.B DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$1,553.26 × (1 + 1.95%) ÷ (7.83% – 1.95%)
CA$26,902.20
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$26,902.20 ÷ (1 + 7.83%)10
CA$12,655.10
TSX:SJR.B Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$7,493.00 + CA$12,655.10
CA$20,148.10
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$20,148.10 / 517.52
CA$38.93
TSX:SJR.B Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$38.93
Current discount Discount to share price of CA$27.47
= -1 x (CA$27.47 - CA$38.93) / CA$38.93
29.4%

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

Current Discount
Amount off the current price Shaw Communications is available for.
Intrinsic value
29%
Share price is CA$27.47 vs Future cash flow value of CA$38.93
Current Discount Checks
For Shaw Communications to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Shaw Communications's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Shaw Communications'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 Shaw Communications's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Shaw Communications's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:SJR.B PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-08-31) in CAD CA$1.42
TSX:SJR.B Share Price ** TSX (2019-11-15) in CAD CA$27.47
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 Shaw Communications.

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

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

= 27.47 ÷ 1.42

19.31x

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

  • Shaw Communications is overvalued based on earnings compared to the CA Media industry average.
  • Shaw Communications is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Shaw Communications's expected growth come at a high price?
Raw Data
TSX:SJR.B PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
0.6%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:SJR.B PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 19.31x ÷ 0.6%

31.7x

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

  • Shaw Communications is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Shaw Communications's assets?
Raw Data
TSX:SJR.B PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-08-31) in CAD CA$11.60
TSX:SJR.B Share Price * TSX (2019-11-15) in CAD CA$27.47
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:SJR.B PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 27.47 ÷ 11.60

2.37x

* Primary Listing of Shaw Communications.

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

  • Shaw Communications is overvalued based on assets compared to the CA Media industry average.
X
Value checks
We assess Shaw Communications'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. Shaw Communications 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.

SJR.B Future Performance

 How is Shaw Communications expected to perform in the next 1 to 3 years based on estimates from 13 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
0.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Shaw Communications expected to grow at an attractive rate?
  • Shaw Communications's earnings growth is positive but not above the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Shaw Communications's earnings growth is positive but not above the Canada market average.
  • Shaw Communications's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:SJR.B Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:SJR.B Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 0.6%
TSX:SJR.B Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 3.1%
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:SJR.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 13 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:SJR.B Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-08-31
2022-08-31 5,900 2,182 2
2021-08-31 5,681 1,967 736 13
2020-08-31 5,504 1,825 694 13
2019-11-16
TSX:SJR.B Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-08-31 5,347 1,568 727
2019-05-31 5,371 1,588 783
2019-02-28 5,336 1,496 457
2018-11-30 5,349 1,320 128
2018-08-31 5,239 1,351 58
2018-05-31 5,107 1,253 -16
2018-02-28 5,034 1,364 247
2017-11-30 4,911 1,605 573
2017-08-31 4,882 1,502 549
2017-05-31 4,603 1,614 561
2017-02-28 4,662 1,604 470
2016-11-30 4,591 1,622 430

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Shaw Communications's earnings are expected to grow by 0.6% yearly, however this is not considered high growth (20% yearly).
  • Shaw Communications's revenue is expected to grow by 3.1% 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:SJR.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 13 Analyst Estimates (S&P Global) See Below

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

TSX:SJR.B Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-08-31
2022-08-31
2021-08-31 1.42 1.45 1.38 2.00
2020-08-31 1.32 1.34 1.30 3.00
2019-11-16
TSX:SJR.B Past Financials Data
Date (Data in CAD Millions) EPS *
2019-08-31 1.42
2019-05-31 1.54
2019-02-28 0.90
2018-11-30 0.25
2018-08-31 0.12
2018-05-31 -0.03
2018-02-28 0.50
2017-11-30 1.16
2017-08-31 1.12
2017-05-31 1.15
2017-02-28 0.97
2016-11-30 0.89

*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.
  • Shaw Communications is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Shaw Communications'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.
Shaw Communications 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.

SJR.B Past Performance

  How has Shaw Communications 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 Shaw Communications'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.
  • Shaw Communications's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Shaw Communications's 1-year earnings growth exceeds its 5-year average (1153.4% vs -14.1%)
  • Shaw Communications's earnings growth has exceeded the CA Media industry average in the past year (1153.4% vs -2.1%).
Earnings and Revenue History
Shaw Communications'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 Shaw Communications Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:SJR.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 5,347.00 727.00
2019-05-31 5,371.00 783.00 153.00
2019-02-28 5,336.00 457.00 153.00
2018-11-30 5,349.00 128.00 153.00
2018-08-31 5,239.00 58.00 153.00
2018-05-31 5,107.00 -16.00
2018-02-28 5,034.00 247.00
2017-11-30 4,911.00 573.00
2017-08-31 4,882.00 549.00
2017-05-31 4,603.00 561.00
2017-02-28 4,662.00 470.00
2016-11-30 4,591.00 430.00
2016-08-31 4,518.00 474.00
2016-05-31 4,685.00 559.00 134.00
2016-02-29 4,545.00 620.00 134.00
2015-11-30 4,528.00 643.00 134.00
2015-08-31 4,486.00 652.00 134.00
2015-05-31 4,617.00 592.00 107.00
2015-02-28 4,824.00 675.00 107.00
2014-11-30 4,980.00 755.00 107.00
2014-08-31 5,241.00 843.00 107.00
2014-05-31 5,224.00 767.00 99.00
2014-02-28 5,208.00 787.00 99.00
2013-11-30 5,185.00 745.00 99.00
2013-08-31 5,142.00 733.00 99.00
2013-05-31 5,106.00 750.00 95.00
2013-02-28 5,058.00 749.00 95.00
2012-11-30 5,038.00 745.00 95.00

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

SJR.B Health

 How is Shaw Communications'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 Shaw Communications's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Shaw Communications's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Shaw Communications's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Shaw Communications'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 0.4x 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 Shaw Communications Company Filings, last reported 2 months ago.

TSX:SJR.B Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-08-31 6,290.00 5,348.00 1,446.00
2019-05-31 6,235.00 5,347.00 1,427.00
2019-02-28 6,129.00 5,346.00 1,288.00
2018-11-30 6,069.00 5,345.00 1,189.00
2018-08-31 5,957.00 4,351.00 384.00
2018-05-31 5,829.00 4,311.00 294.00
2018-02-28 6,010.00 4,311.00 278.00
2017-11-30 6,185.00 4,300.00 445.00
2017-08-31 6,154.00 4,300.00 507.00
2017-05-31 5,836.00 5,568.00 175.00
2017-02-28 5,806.00 5,948.00 620.00
2016-11-30 5,734.00 5,659.00 289.00
2016-08-31 5,698.00 5,612.00 405.00
2016-05-31 6,251.00 5,600.00 324.00
2016-02-29 5,854.00 5,959.00 357.00
2015-11-30 5,790.00 5,683.00 283.00
2015-08-31 5,646.00 5,669.00 398.00
2015-05-31 5,420.00 5,617.00 282.00
2015-02-28 5,268.00 5,573.00 136.00
2014-11-30 5,118.00 5,548.00 24.00
2014-08-31 4,937.00 4,690.00 637.00
2014-05-31 4,872.00 4,688.00 496.00
2014-02-28 4,722.00 4,687.00 441.00
2013-11-30 4,579.00 4,517.00 57.00
2013-08-31 4,413.00 4,866.00 422.00
2013-05-31 4,421.00 4,861.00 290.00
2013-02-28 4,309.00 4,815.00 116.00
2012-11-30 4,190.00 5,094.00
  • Shaw Communications's level of debt (85%) 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 (95.1% vs 85% today).
  • Debt is well covered by operating cash flow (29.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.3x coverage).
X
Financial health checks
We assess Shaw Communications'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. Shaw Communications 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.

SJR.B Dividends

 What is Shaw Communications'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
4.31%
Current annual income from Shaw Communications dividends. Estimated to be 4.47% next year.
If you bought CA$2,000 of Shaw Communications shares you are expected to receive CA$86 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?
  • Shaw Communications's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2%).
  • Shaw Communications's dividend is below the markets top 25% of dividend payers in Canada (5.68%).
Upcoming dividend payment

Purchase Shaw Communications 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:SJR.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 13 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:SJR.B Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2023-08-31
2022-08-31 1.31 2.00
2021-08-31 1.22 5.00
2020-08-31 1.20 5.00
2019-11-16
TSX:SJR.B Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-10-25 1.185 4.415
2019-06-27 1.185 4.554
2019-04-09 1.185 4.358
2019-01-14 1.185 4.357
2018-10-25 1.185 4.757
2018-06-28 1.185 4.553
2018-04-12 1.185 4.451
2018-01-11 1.185 4.655
2017-10-26 1.185 4.114
2017-06-28 1.185 4.250
2017-04-12 1.185 4.078
2017-01-12 1.185 4.260
2016-11-02 1.185 4.441
2016-06-29 1.185 4.545
2016-04-14 1.185 4.882
2016-01-13 1.185 4.920
2015-10-22 1.185 4.551
2015-06-25 1.185 4.457
2015-04-14 1.185 4.332
2015-01-14 1.185 4.062
2014-10-23 1.098 3.617
2014-06-26 1.100 4.009
2014-04-10 1.100 4.100
2014-01-14 1.100 4.310
2013-10-24 1.020 4.092
2013-06-28 1.020 4.079
2013-04-12 1.020 4.403
2013-01-09 1.020 4.228
2012-10-25 0.970 4.440
2012-06-28 0.970 4.843
2012-04-13 0.970 4.972
2012-01-12 0.970 4.788
2011-10-20 0.920 4.521
2011-06-29 0.920 4.302
2011-04-13 0.920 4.538
2011-01-13 0.920 4.424
2010-10-22 0.880 4.182
2010-06-30 0.880 4.113
2010-04-09 0.880 4.536
2010-01-14 0.880 4.378
2009-10-23 0.840 4.089
2009-06-26 0.840 4.420
2009-04-08 0.840 4.435
2009-01-15 0.840 4.300

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 Shaw Communications's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Shaw Communications'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 Shaw Communications afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Shaw Communications 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.

SJR.B Management

 What is the CEO of Shaw Communications'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
Brad Shaw
COMPENSATION CA$7,574,173
AGE 55
TENURE AS CEO 9 years
CEO Bio

Mr. Bradley S. Shaw, also known as Brad, has been the Chief Executive Officer of Shaw Communications Inc. since November 17, 2010. Mr. Shaw served as Senior Vice President of Operations at Shaw Communications Inc. from February 2001 to February 2010. He served as an Executive Vice President at Shaw Communications Inc. from February 2010 to November 17, 2010. He served as Senior Vice President of Operations for Shaw Satellite G.P. (formerly, Star Choice Communications Inc.) since February 2001 until February 2010 and served as its Vice President of Operations. He also served at Shaw Satellite Services Inc. He has been a Director of Shaw Communications Inc. since 1999. He serves as Director of Radium Resort Inc. and Cable Television Laboratories, Inc.

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

Average tenure and age of the Shaw Communications management team in years:

2
Average Tenure
55
Average Age
  • The tenure for the Shaw Communications management team is about average.
Management Team

JR Shaw

TITLE
Founder & Executive Chairman
COMPENSATION
CA$7M
AGE
85

Brad Shaw

TITLE
CEO & Non-Independent Director
COMPENSATION
CA$8M
AGE
55
TENURE
9 yrs

Jay Mehr

TITLE
President
COMPENSATION
CA$7M
TENURE
3.7 yrs

Trevor English

TITLE
Executive VP and Chief Financial & Corporate Development Officer
COMPENSATION
CA$4M
AGE
45
TENURE
1.5 yrs

Zoran Stakic

TITLE
COO & CTO
COMPENSATION
CA$6M
TENURE
1.5 yrs

Peter Johnson

TITLE
Executive VP and Chief Legal & Regulatory Officer
TENURE
3.7 yrs

Katherine Emberly

TITLE
President of Business
TENURE
1.5 yrs

Dan Markou

TITLE
Executive VP and Chief People & Culture Officer
TENURE
1.5 yrs

Paul McAleese

TITLE
President of Wireless
TENURE
2.6 yrs

Nancy Phillips

TITLE
CEO & President of ViaWest
Board of Directors Tenure

Average tenure and age of the Shaw Communications board of directors in years:

18.8
Average Tenure
72.5
Average Age
  • The average tenure for the Shaw Communications board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Brad Shaw

TITLE
CEO & Non-Independent Director
COMPENSATION
CA$8M
AGE
55
TENURE
20.8 yrs

Bill Yuill

TITLE
Independent Director
COMPENSATION
CA$248K
AGE
81
TENURE
20.8 yrs

JR Shaw

TITLE
Founder & Executive Chairman
COMPENSATION
CA$7M
AGE
85

Mike O'Brien

TITLE
Independent Corporate Director
COMPENSATION
CA$313K
AGE
74
TENURE
16.1 yrs

Paul Pew

TITLE
Lead Director
COMPENSATION
CA$405K
AGE
55
TENURE
4.8 yrs

Peter Bissonnette

TITLE
Independent Director
COMPENSATION
CA$13M
AGE
72
TENURE
10.8 yrs

Jeff Royer

TITLE
Independent Director
COMPENSATION
CA$305K
AGE
64
TENURE
24.8 yrs

J. Sparkman

TITLE
Independent Corporate Director
COMPENSATION
CA$297K
AGE
87
TENURE
25.8 yrs

Adrian Burns

TITLE
Independent Director
COMPENSATION
CA$275K
AGE
73
TENURE
18.8 yrs

Carl Vogel

TITLE
Independent Director
COMPENSATION
CA$265K
AGE
62
TENURE
13.1 yrs
Who owns this company?
Recent Insider Trading
  • Shaw Communications individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
14. Nov 19 Sell Willard Yuill Individual 13. Nov 19 13. Nov 19 -75,000 CA$27.48 CA$-2,061,000
13. Nov 19 Sell Willard Yuill Individual 12. Nov 19 12. Nov 19 -25,000 CA$27.07 CA$-676,700
05. Nov 19 Sell Willard Yuill Individual 01. Nov 19 01. Nov 19 -25,000 CA$27.20 CA$-680,000
17. Apr 19 Sell Zoran Stakic Individual 16. Apr 19 16. Apr 19 -29,651 CA$23.75 CA$-704,211
18. Feb 19 Sell Willard Yuill Individual 15. Feb 19 15. Feb 19 -25,000 CA$27.01 CA$-675,250
18. Dec 18 Sell Willard Yuill Individual 14. Dec 18 14. Dec 18 -25,000 CA$25.40 CA$-635,000
18. Dec 18 Sell Carl Vogel Individual 12. Dec 18 12. Dec 18 -7,500 CA$24.24 CA$-181,785
11. Dec 18 Sell Willard Yuill Individual 05. Dec 18 06. Dec 18 -50,000 CA$25.36 CA$-1,265,232
11. Dec 18 Sell Carl Vogel Individual 07. Dec 18 07. Dec 18 -7,500 CA$25.23 CA$-189,195
X
Management checks
We assess Shaw Communications'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. Shaw Communications 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.

SJR.B News

Simply Wall St News

These 4 Measures Indicate That Shaw Communications (TSE:SJR.B) Is Using Debt Extensively

TSX:SJR.B Historical Debt, August 30th 2019 How Healthy Is Shaw Communications's Balance Sheet? … Over the last three years, Shaw Communications recorded negative free cash flow, in total. … If you're interested in investing in businesses that can grow profits without the burden of debt, then check out this free list of growing businesses that have net cash on the balance sheet.

Simply Wall St -

With A Return On Equity Of 13%, Has Shaw Communications Inc.'s (TSE:SJR.B) Management Done Well?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Shaw Communications: 13% = CA$783m ÷ CA$6.2b (Based on the trailing twelve months to May 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Does Shaw Communications Have A Good Return On Equity? … Conservative use of debt to boost returns is usually a good move for shareholders, though it does leave the company more exposed to interest rate rises.

Simply Wall St -

Does Shaw Communications Inc. (TSE:SJR.B) Create Value For Shareholders?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Shaw Communications: 0.093 = CA$1.2b ÷ (CA$15b - CA$2.8b) (Based on the trailing twelve months to May 2019.) Therefore, Shaw Communications has an ROCE of 9.3%. … Do Shaw Communications's Current Liabilities Skew Its ROCE?

Simply Wall St -

Is Shaw Communications Inc.'s (TSE:SJR.B) CEO Pay Justified?

In 2010 Brad Shaw was appointed CEO of Shaw Communications Inc. … See our latest analysis for Shaw Communications How Does Brad Shaw's Compensation Compare With Similar Sized Companies? … With a total shareholder return of 22% over three years, Shaw Communications Inc.

Simply Wall St -

An Intrinsic Calculation For Shaw Communications Inc. (TSE:SJR.B) Suggests It's 44% Undervalued

Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (CA$, Millions) CA$543.70 CA$629.17 CA$764.60 CA$1.03k CA$1.29k CA$1.50k CA$1.68k CA$1.83k CA$1.96k CA$2.07k Growth Rate Estimate Source Analyst x8 Analyst x9 Analyst x3 Analyst x2 Analyst x1 Est @ 16.47% Est @ 12.11% Est @ 9.06% Est @ 6.93% Est @ 5.43% Present Value (CA$, Millions) Discounted @ 7.76% CA$504.54 CA$541.80 CA$611.00 CA$760.58 CA$886.33 CA$957.96 CA$996.64 CA$1.01k CA$1.00k CA$979.26 Present Value of 10-year Cash Flow (PVCF)= CA$8.25b "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. … The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 10-year government bond rate of 1.9%. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = CA$2.1b × (1 + 1.9%) ÷ (7.8% – 1.9%) = CA$36b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = CA$CA$36b ÷ ( 1 + 7.8%)10 = CA$17.17b 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$25.42b.

Simply Wall St -

Are Shaw Communications Inc.'s (TSE:SJR.B) Interest Costs Too High?

View our latest analysis for Shaw Communications Does SJR.B Produce Much Cash Relative To Its Debt? … SJR.B's debt levels surged from CA$4.3b to CA$5.3b over the last 12 months – this includes long-term debt. … On top of this, SJR.B has produced CA$1.5b in operating cash flow during the same period of time, resulting in an operating cash to total debt ratio of 28%, meaning that SJR.B’s debt is appropriately covered by operating cash.

Simply Wall St -

Shaw Communications Inc. (TSE:SJR.B) Delivered A Better ROE Than Its Industry

We'll use ROE to examine Shaw Communications Inc. … See our latest analysis for Shaw Communications? … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Consider This Before Buying Shaw Communications Inc. (TSE:SJR.B) For The 4.3% Dividend

Owning a strong dividend company and reinvesting the dividends is widely seen as an attractive way of growing your wealth. … Unfortunately, one common occurrence with dividend companies is for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. … In this case, Shaw Communications likely looks attractive to investors, given its 4.3% dividend yield and a payment history of over ten years.

Simply Wall St -

Why Shaw Communications Inc.'s (TSE:SJR.B) High P/E Ratio Isn't Necessarily A Bad Thing

We'll apply a basic P/E ratio analysis to Shaw Communications Inc.'s (TSE:SJR.B), to help you decide if the stock is worth further research. … How Do I Calculate Shaw Communications's Price To Earnings Ratio … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Have Insiders Been Selling Shaw Communications Inc. (TSE:SJR.B) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in Shaw Communications Inc. … Shaw Communications Insider Transactions Over The Last Year. … Over the last year we saw more insider selling of Shaw Communications shares, than buying

Simply Wall St -

SJR.B Company Info

Description

Shaw Communications Inc. operates as a connectivity company in North America. The company operates through Wireline and Wireless segments. The Wireline segment provides broadband Internet, Shaw Go WiFi, video, and digital phone services to residential customers; and Internet, data, WiFi, digital phone, and video services to business customers. The Wireless segment provides wireless voice and data communications services for customers. The company was formerly known as Shaw Cable systems Ltd. and changed its name to Shaw Communications Inc. in May 1993. Shaw Communications Inc. was founded in 1966 and is based in Calgary, Canada.

Details
Name: Shaw Communications Inc.
SJR.B
Exchange: TSX
Founded: 1966
CA$14,225,756,208
517,523,114
Website: http://www.shaw.ca
Address: Shaw Communications Inc.
630–3rd Avenue SW,
Suite 900,
Calgary,
Alberta, T2P 4L4,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX SJR.B Class B Non-Voting Shares The Toronto Stock Exchange CA CAD 28. Mar 1983
NYSE SJR Class B Non-Voting Shares New York Stock Exchange US USD 28. Mar 1983
DB SWC Class B Non-Voting Shares Deutsche Boerse AG DE EUR 28. Mar 1983
TSX SJR.PRB PFD CL 2 SER B The Toronto Stock Exchange CA CAD 04. Jul 2016
TSX SJR.PRA CV PFD CL 2-A The Toronto Stock Exchange CA CAD 31. May 2011
TSXV SJR.A Class A Shares TSX Venture Exchange CA CAD 22. Sep 1988
OTCPK SJRW.F Class A Shares Pink Sheets LLC US USD 22. Sep 1988
Number of employees
Current staff
Staff numbers
10,000
Shaw Communications employees.
Industry
Cable and Satellite
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/16 23:40
End of day share price update: 2019/11/15 00:00
Last estimates confirmation: 2019/11/14
Last earnings filing: 2019/10/25
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.