Winpak Ltd.

Chart & Performance

D1W1MN

P/E

14.29

P/S

1.85

EPS

2.35

Div Yield, %

0.19%

Shrs. gr., 5y

—

Rev. gr., 5y

5.11%

Revenues

1.14b

-3.36%

Net income

148m

+15.42%

CFO

221m

+184.70%

Dividend

Oct 01, 20240.05 CAD/sh

Earnings

Feb 26, 2025

Profile

Winpak Ltd. manufactures and distributes packaging materials and related packaging machines in the United States, Canada, Mexico, and internationally. The company operates through three segments: Flexible Packaging, Rigid Packaging and Flexible Lidding, and Packaging Machinery. The Flexible Packaging segment provides modified atmosphere packaging products for fresh and processed meats, poultry, cheese, medical device packaging, and high performance pouch applications; high-barrier films for converting applications; barrier and non-barrier films, including shrink bags for printing, laminating, and bag making applications; and biaxially oriented nylon films for food packaging and industrial applications. The Rigid Packaging and Flexible Lidding segment offers portion control and single-serve containers, as well as plastic sheet, custom, and retort trays for food, pet food, beverage, dairy, industrial, and healthcare applications; die-cut, daisy chain, and rollstock lidding products for food, dairy, beverage, industrial, and healthcare applications; and specialized printed packaging solutions for the pharmaceutical, healthcare, nutraceutical, cosmetic, and personal care markets. The Packaging Machinery segment provides horizontal fill/seal machines for preformed containers and vertical form/fill/seal pouch machines for pumpable liquid and semi-liquid, as well as various dry products. The company was incorporated in 1975 and is based in Winnipeg, Canada. Winpak Ltd. is a subsidiary of Wihuri International Oy.

URL

https://www.winpak.com/

IPO date

Aug 28, 1986

Employees

2,563

Domiciled in

Incorporated in

Valuation

Order:

Title USD in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title USD in thousands, except ratios and share amounts	2023‑12	2022‑12	2021‑12	2020‑12	2019‑12	2018‑12	2017‑12	2016‑12	2015‑12	2014‑12
Income
Revenues	1,141,407 -3.36%	1,181,133 17.88%	1,001,994 17.54%
Cost of revenue	961,946	1,005,180	860,824
Unusual Expense (Income)
NOPBT	179,461	175,953	141,170
NOPBT Margin	15.72%	14.90%	14.09%
Operating Taxes	52,200	45,861	35,265
Tax Rate	29.09%	26.06%	24.98%
NOPAT	127,261	130,092	105,905
Net income	148,130 15.42%	128,343 23.63%	103,808 -2.36%
Dividends	(5,785)	(6,034)	(165,597)
Dividend yield	0.22%	0.22%	6.85%
Proceeds from repurchase of equity
BB yield
Debt
Debt current	2,002	1,321	1,314
Long-term debt	25,672	23,745	25,672
Deferred revenue		17,946	17,685
Other long-term liabilities	82,036	9,184	10,687
Net debt	(514,196)	(373,607)	(350,475)
Cash flow
Cash from operating activities	220,839	77,569	97,055
CAPEX	(68,670)	(49,461)	(48,536)
Cash from investing activities	(69,030)	(49,461)	(48,536)
Cash from financing activities	(8,612)	(6,896)	(166,404)
FCF	146,897	34,063	31,943
Balance
Cash	541,870	398,673	377,461
Long term investments
Excess cash	484,800	339,616	327,361
Stockholders' equity	1,383,649	1,239,747	1,116,263
Invested Capital	994,722	920,429	829,141
ROIC	13.29%	14.87%	13.36%
ROCE	12.13%	13.32%	11.53%
EV
Common stock shares outstanding	65,000	65,000	65,000
Price	40.90 -2.76%	42.06 13.16%	37.17 -13.19%
Market cap	2,658,500 -2.76%	2,733,900 13.16%	2,416,050 -13.19%
EV	2,177,906	2,397,266	2,102,218
EBITDA	229,003	225,339	188,434
EV/EBITDA	9.51	10.64	11.16
Interest	884	769	819
Interest/NOPBT	0.49%	0.44%	0.58%