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Clearwater Paper

DB:5WC
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
5WC
DB
$271M
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Clearwater Paper Corporation produces and sells private label tissue and bleached paperboard products in the United States and internationally. The last earnings update was 65 days ago. More info.


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  • Clearwater Paper has significant price volatility in the past 3 months.
5WC Share Price and Events
7 Day Returns
-16.1%
DB:5WC
6.5%
Europe Forestry
2.8%
DE Market
1 Year Returns
-32.9%
DB:5WC
-11.9%
Europe Forestry
3%
DE Market
5WC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Clearwater Paper (5WC) -16.1% -3.2% -6.8% -32.9% -74.5% -69.9%
Europe Forestry 6.5% 1.9% 8.8% -11.9% 1% 49.9%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • 5WC underperformed the Forestry industry which returned -11.9% over the past year.
  • 5WC underperformed the Market in Germany which returned 3% over the past year.
Price Volatility
5WC
Industry
5yr Volatility vs Market

Value

 Is Clearwater Paper 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 Clearwater Paper 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 Clearwater Paper.

DB:5WC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 DB:5WC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Forestry Unlevered Beta Simply Wall St/ S&P Global 1.37
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.367 (1 + (1- 21%) (373.19%))
3.947
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (2 * 5.96%)
12.15%

Discounted Cash Flow Calculation for DB:5WC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Clearwater Paper 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.

DB:5WC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 12.15%)
2020 40.00 Analyst x1 35.67
2021 54.79 Est @ 36.97% 43.56
2022 69.01 Est @ 25.95% 48.92
2023 81.59 Est @ 18.23% 51.58
2024 92.05 Est @ 12.83% 51.89
2025 100.39 Est @ 9.05% 50.46
2026 106.81 Est @ 6.4% 47.87
2027 111.67 Est @ 4.55% 44.63
2028 115.31 Est @ 3.25% 41.09
2029 118.01 Est @ 2.35% 37.50
Present value of next 10 years cash flows $453.00
DB:5WC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $118.01 × (1 + 0.23%) ÷ (12.15% – 0.23%)
$992.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $992.30 ÷ (1 + 12.15%)10
$315.30
DB:5WC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $453.00 + $315.30
$768.30
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $768.30 / 16.52
$46.52
DB:5WC Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:5WC represents 0.91961x of NYSE:CLW
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.91961x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 46.52 x 0.91961
€42.78
Value per share (EUR) From above. €42.78
Current discount Discount to share price of €15.10
= -1 x (€15.10 - €42.78) / €42.78
64.7%

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

Current Discount
Amount off the current price Clearwater Paper is available for.
Intrinsic value
>50%
Share price is €15.1 vs Future cash flow value of €42.78
Current Discount Checks
For Clearwater Paper to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Clearwater Paper's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Clearwater Paper's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Clearwater Paper's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Clearwater Paper's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:5WC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $-9.08
NYSE:CLW Share Price ** NYSE (2019-10-11) in USD $16.42
Europe Forestry Industry PE Ratio Median Figure of 31 Publicly-Listed Forestry Companies 10.37x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

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

** Primary Listing of Clearwater Paper.

DB:5WC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CLW Share Price ÷ EPS (both in USD)

= 16.42 ÷ -9.08

-1.81x

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

  • Clearwater Paper is loss making, we can't compare its value to the Europe Forestry industry average.
  • Clearwater Paper is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Clearwater Paper's expected growth come at a high price?
Raw Data
DB:5WC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -1.81x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
175.3%per year
Europe Forestry Industry PEG Ratio Median Figure of 19 Publicly-Listed Forestry Companies 0.3x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*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 Clearwater Paper, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Clearwater Paper's assets?
Raw Data
DB:5WC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $26.30
NYSE:CLW Share Price * NYSE (2019-10-11) in USD $16.42
Europe Forestry Industry PB Ratio Median Figure of 39 Publicly-Listed Forestry Companies 1.17x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:5WC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CLW Share Price ÷ Book Value per Share (both in USD)

= 16.42 ÷ 26.30

0.62x

* Primary Listing of Clearwater Paper.

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

  • Clearwater Paper is good value based on assets compared to the Europe Forestry industry average.
X
Value checks
We assess Clearwater Paper'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 Forestry 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 Forestry industry average (and greater than 0)? (1 check)
  5. Clearwater Paper has a total score of 3/6, 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 Clearwater Paper expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

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

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
175.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Clearwater Paper expected to grow at an attractive rate?
  • Clearwater Paper's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Clearwater Paper's earnings growth is expected to exceed the Germany market average.
  • Clearwater Paper's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:5WC Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:5WC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 175.3%
DB:5WC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 3.9%
Europe Forestry Industry Earnings Growth Rate Market Cap Weighted Average 3.2%
Europe Forestry Industry Revenue Growth Rate Market Cap Weighted Average 1.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*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
DB:5WC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:5WC Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31
2020-12-31 1,841 133 21 3
2019-12-31 1,773 85 -1 3
2019-10-13
DB:5WC Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 1,736 73 -150
2019-03-31 1,716 109 -143
2018-12-31 1,724 169 -144
2018-09-30 1,732 148 125
2018-06-30 1,732 186 91
2018-03-31 1,730 164 92
2017-12-31 1,730 179 97
2017-09-30 1,719 186 26
2017-06-30 1,728 180 26
2017-03-31 1,735 169 39
2016-12-31 1,735 173 50
2016-09-30 1,741 191 52

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Clearwater Paper's earnings are expected to grow significantly at over 20% yearly.
  • Clearwater Paper's revenue is expected to grow by 3.9% 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
DB:5WC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

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

DB:5WC Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 1.25 1.25 1.25 1.00
2019-12-31 -0.07 -0.07 -0.07 1.00
2019-10-13
DB:5WC Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 -9.08
2019-03-31 -8.64
2018-12-31 -8.72
2018-09-30 7.58
2018-06-30 5.54
2018-03-31 5.61
2017-12-31 5.91
2017-09-30 1.56
2017-06-30 1.55
2017-03-31 2.31
2016-12-31 2.91
2016-09-30 2.99

*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 Clearwater Paper will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Clearwater Paper'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Clearwater Paper has a total score of 3/6, see the detailed checks below.

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

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

Past Performance

  How has Clearwater Paper 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 Clearwater Paper's growth in the last year to its industry (Forestry).
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.
  • Clearwater Paper does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Clearwater Paper's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Clearwater Paper's 1-year growth to the Europe Forestry industry average as it is not currently profitable.
Earnings and Revenue History
Clearwater Paper'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 Clearwater Paper Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:5WC Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 1,735.94 -149.92 115.00
2019-03-31 1,716.05 -142.53 113.32
2018-12-31 1,724.22 -143.77 110.99
2018-09-30 1,732.23 124.93 112.49
2018-06-30 1,732.27 91.35 114.96
2018-03-31 1,729.84 92.42 117.22
2017-12-31 1,730.41 97.34 117.98
2017-09-30 1,719.26 25.76 119.10
2017-06-30 1,728.08 25.80 116.95
2017-03-31 1,735.08 38.62 122.67
2016-12-31 1,734.76 49.55 130.04
2016-09-30 1,740.79 51.78 124.77
2016-06-30 1,747.69 73.94 122.06
2016-03-31 1,755.58 68.67 115.55
2015-12-31 1,752.40 55.98 112.44
2015-09-30 1,793.12 17.17 115.43
2015-06-30 1,862.04 0.36 122.12
2015-03-31 1,916.25 -2.78 125.55
2014-12-31 1,967.14 -2.32 130.10
2014-09-30 1,964.98 107.79 127.36
2014-06-30 1,941.68 114.86 123.31
2014-03-31 1,913.93 114.06 118.51
2013-12-31 1,889.83 106.96 119.13
2013-09-30 1,882.37 43.95 117.44
2013-06-30 1,874.76 49.69 120.32
2013-03-31 1,877.33 59.52 124.08
2012-12-31 1,874.30 64.13 119.03

*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 Clearwater Paper has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Clearwater Paper has efficiently used its assets last year compared to the Europe Forestry industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Clearwater Paper 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 Clearwater Paper'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 Forestry 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.
Clearwater Paper has a total score of 0/6, 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 Clearwater Paper'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 Clearwater Paper's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Clearwater Paper's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Clearwater Paper's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Clearwater Paper'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 0.6x 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 Clearwater Paper Company Filings, last reported 3 months ago.

DB:5WC Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 434.37 906.68 41.80
2019-03-31 432.24 883.70 12.16
2018-12-31 426.40 792.13 22.48
2018-09-30 628.13 771.10 76.15
2018-06-30 590.57 730.91 53.28
2018-03-31 580.72 739.22 12.06
2017-12-31 575.43 725.52 15.74
2017-09-30 486.36 680.33 8.48
2017-06-30 483.59 678.14 8.52
2017-03-31 473.59 699.95 16.00
2016-12-31 469.87 704.76 23.00
2016-09-30 471.20 582.58 0.33
2016-06-30 482.89 569.37 9.40
2016-03-31 467.71 575.18 2.23
2015-12-31 474.87 568.99 5.86
2015-09-30 459.98 575.00 23.42
2015-06-30 487.30 575.00 71.47
2015-03-31 466.64 575.00 40.80
2014-12-31 497.54 568.22 77.33
2014-09-30 540.96 622.05 13.58
2014-06-30 555.19 650.00 81.48
2014-03-31 584.34 650.00 83.04
2013-12-31 605.09 650.00 93.68
2013-09-30 497.29 650.00 109.93
2013-06-30 497.65 650.00 81.18
2013-03-31 491.43 650.00 94.54
2012-12-31 540.89 523.93 32.58
  • Clearwater Paper's level of debt (208.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (117.1% vs 208.7% today).
  • Debt is not well covered by operating cash flow (8%, less than 20% of total debt).
  • Clearwater Paper is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Clearwater Paper'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. Clearwater Paper has a total score of 0/6, 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 Clearwater Paper'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 Clearwater Paper dividends.
If you bought €2,000 of Clearwater Paper shares you are expected to receive €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 Clearwater Paper's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Clearwater Paper'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
DB:5WC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Europe Forestry Industry Average Dividend Yield Market Cap Weighted Average of 24 Stocks 4.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:5WC Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
2019-10-13

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

  • Unable to perform a dividend volatility check as Clearwater Paper has not reported any payouts.
  • Unable to verify if Clearwater Paper's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Clearwater Paper's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Clearwater Paper 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 Clearwater Paper's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - 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 Clearwater Paper afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Clearwater Paper 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 Clearwater Paper'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
Linda Massman
COMPENSATION $4,045,905
AGE 52
TENURE AS CEO 6.8 years
CEO Bio

Ms. Linda K. Massman has been the President and Chief Executive Officer of Clearwater Paper Corporation since November 1, 2011 and January 1, 2013 respectively. Ms. Massman served as the Chief Financial Officer and Vice President of Finance at Cellu Tissue Holdings, Inc. since December 27, 2010. She served as the Chief Financial Officer and Vice President of Finance of Cellu Tissue City-forest LLC and Cellu Tissue-CityForest LLC. She served as a Business Strategy Consultant for Accenture. She served as the Chief Operating Officer of Clearwater Paper Corporation from November 1, 2011 to December 2012. She served as the Chief Financial Officer of Clearwater Paper Corporation (formerly, Potlatch Forest Products Corporation) from December 2008 to November 2011 and served as its Senior Vice President of Finance from May 2011 to November 2011. She served as Vice President of Finance at Clearwater Paper Corporation from December 2008 to May 2011. From September 2008 to December 2008, She served as a Vice President of Potlatch Corporation. From May 2002 to August 2008, she served as Group Vice President of Finance and Corporate Planning for SUPERVALU Inc. She served as Vice President of Business Planning and Operations at Viquity Corporation from 1999 to 2001. She also serves as a Director at Clearwater Paper - Wiggins, LLC. She has been a Director of Treehouse Foods, Inc. since July 28, 2016. She served as an Independent Director of Black Hills Corporation from January 28, 2015 to July 1, 2018. She has been Director of Cellu Tissue Holdings, Inc. since December 27, 2010 and Clearwater Paper Corporation since January 1, 2013. She also serves on the American Forest & Paper Association board. She earned a Bachelor's Degree in Business Administration in finance from the University of North Dakota and an MBA from Harvard University.

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

Average tenure and age of the Clearwater Paper management team in years:

4.2
Average Tenure
54
Average Age
  • The tenure for the Clearwater Paper management team is about average.
Management Team

Linda Massman

TITLE
President
COMPENSATION
$4M
AGE
52
TENURE
6.8 yrs

Michael Gadd

TITLE
Senior VP
COMPENSATION
$1M
AGE
54
TENURE
10.8 yrs

Kari Moyes

TITLE
Senior Vice President of Human Resources
COMPENSATION
$829K
AGE
51
TENURE
4.7 yrs

Arsen Kitch

TITLE
Senior VP & GM of Consumer Products Division
COMPENSATION
$852K
AGE
37
TENURE
1.4 yrs

Robert Hrivnak

TITLE
Senior VP of Finance
AGE
59
TENURE
0.5 yrs

Robin Yim

TITLE
Vice President of Investor Relations

Shannon Myers

TITLE
Senior Director of Corporate Communications

Steve Bowden

TITLE
Senior VP and GM of Pulp & Paperboard Division
AGE
55
TENURE
1 yrs

Robert Dammarell

TITLE
VP & Corporate Controller
AGE
55
TENURE
4.2 yrs
Board of Directors Tenure

Average tenure and age of the Clearwater Paper board of directors in years:

3.5
Average Tenure
59
Average Age
  • The tenure for the Clearwater Paper board of directors is about average.
Board of Directors

Alex Toeldte

TITLE
Chairman of the Board & Lead independent director
COMPENSATION
$209K
AGE
59
TENURE
1.1 yrs

Linda Massman

TITLE
President
COMPENSATION
$4M
AGE
52
TENURE
6.8 yrs

Bill Larsson

TITLE
Independent Director
COMPENSATION
$205K
AGE
74
TENURE
10.8 yrs

Kevin Hunt

TITLE
Independent Director
COMPENSATION
$195K
AGE
68
TENURE
6.8 yrs

John O'Donnell

TITLE
Independent Director
COMPENSATION
$178K
AGE
59
TENURE
3.5 yrs

John Corkrean

TITLE
Independent Director
AGE
53
TENURE
0.4 yrs

Joe Laymon

TITLE
Independent Director
AGE
66
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 (€) Value (€)
03. May 19 Buy Linda Massman Individual 03. May 19 03. May 19 5,500 €16.01 €88,074
X
Management checks
We assess Clearwater Paper'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. Clearwater Paper 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

Company Info

Description

Clearwater Paper Corporation produces and sells private label tissue and bleached paperboard products in the United States and internationally. It operates in two segments, Consumer Products, and Pulp and Paperboard. The Consumer Products segment manufactures and sells a line of at-home tissue products, including bathroom tissues, paper towels, facial tissues, and napkins; recycled fiber value grade products; and away-from-home products, such as conventional one- and two-ply bath tissues, two-ply paper towels, hard wound towels, and dispenser napkins. It sells its products to retailers and wholesale distributors, including grocery, drug, and discount stores, as well as mass merchants. The Pulp and Paperboard segment provides folding cartons, liquid packaging, cups, plates, blister and carded packaging, top sheet, and commercial printing items, as well as hardwood and softwood pulp. It also offers custom sheeting, slitting, and cutting services. The company is headquartered in Spokane, Washington.

Details
Name: Clearwater Paper Corporation
5WC
Exchange: DB
Founded:
$245,416,869
16,515,156
Website: http://www.clearwaterpaper.com
Address: Clearwater Paper Corporation
601 West Riverside Avenue,
Suite 1100,
Spokane,
Washington, 99201,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CLW Common Stock New York Stock Exchange US USD 05. Dec 2008
DB 5WC Common Stock Deutsche Boerse AG DE EUR 05. Dec 2008
Number of employees
Current staff
Staff numbers
3,130
Clearwater Paper employees.
Industry
Paper Products
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 23:32
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/10/09
Last earnings filing: 2019/08/09
Last earnings reported: 2019/06/30
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.