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CCL Industries (A)
(TSX:CCL.A)
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Rating:76Outperform
Price Target:
C$110.00
▲(17.03% Upside)
Action:Reiterated
Date:08/17/26
Overall score is driven primarily by solid financial performance (strong margins and ROE, with manageable leverage) and supportive technicals (clear uptrend above all major moving averages). The main offsets are a less compelling valuation (P/E ~20.6 and ~1.4% yield) and some signs of slowing growth and softening cash-flow momentum.
Positive Factors
Strong and durable profitability
CCL maintains strong profitability across net, EBITDA, and EBIT measures, while attractive ROE indicates effective capital use. These results support resilience in a manufacturing business and provide resources for investment, integration, and customer service.
Negative Factors
Revenue growth has decelerated
The longer-term revenue trajectory is positive, but the latest growth rate indicates slower expansion. Sustained low growth could limit operating leverage and make future earnings increasingly dependent on acquisitions, pricing, or higher-value product mix.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong and durable profitability
CCL maintains strong profitability across net, EBITDA, and EBIT measures, while attractive ROE indicates effective capital use. These results support resilience in a manufacturing business and provide resources for investment, integration, and customer service.
Read all positive factors
CCL Industries (A) (CCL.A) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$16.01B
Dividend Yield1.45%
Average Volume (3M)87.00
Price to Earnings (P/E)20.3
Beta (1Y)0.60
Revenue Growth5.44%
EPS Growth4.67%
CountryCA
Employees26,000
SectorConsumer Cyclical
Sector Strength84
IndustryPackaging & Containers
Share Statistics
EPS (TTM)4.69
Shares Outstanding11,743,323
10 Day Avg. Volume80
30 Day Avg. Volume87
Financial Highlights & Ratios
PEG Ratio-6.38
Price to Book (P/B)2.69
Price to Sales (P/S)1.98
P/FCF Ratio17.55
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)5.08
Revenue Forecast (FY)C$8.16B
CCL Industries (A) Business Overview & Revenue Model
Company Description
CCL Industries Inc. is a prominent global manufacturer and distributor of labels, also offering a range of media and software services. The company's operations are divided into four distinct segments: CCL, Avery, Checkpoint, and Innovia. The CCL ...
How the Company Makes Money
CCL Industries makes money primarily by manufacturing and selling labeling and packaging products and related converting/printing services to brand owners and other commercial customers. Its core revenue stream comes from producing pressure-sensit...
CCL Industries (A) Earnings Call Summary
Earnings Call Date:Aug 13, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 12, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with both positive and negative aspects. While there was notable growth in sales, operating income, and free cash flow, challenges such as a decline in net earnings, increased tax rates, and tariff impacts were significant. The CCL segment performed well, but other areas like Innovia and RFID faced challenges.Positive Updates
Sales and Operating Income Growth
Sales increased by 4.8% to $1.9 billion, with operating income rising by 5% to $322.1 million compared to the same quarter in 2024.
Negative Updates
Net Earnings Decline
Net earnings for the second quarter of 2025 were $213.1 million, down from $279.5 million in the second quarter of 2024.
Read all updates
Q2-2025 Updates
Positive
Negative
Sales and Operating Income Growth
Sales increased by 4.8% to $1.9 billion, with operating income rising by 5% to $322.1 million compared to the same quarter in 2024.
Read all positive updates
Company Guidance
In the second quarter of 2025, CCL Industries reported a 4.8% increase in sales, reaching $1.9 billion compared to $1.8 billion in the prior year. This growth was driven by 2% organic growth, 1% acquisition-related growth, and a 1.8% positive impact from foreign currency translation. Operating income rose by 5% to $322.1 million, excluding currency impacts, while consolidated EBITDA increased by 6%. The effective tax rate increased to 25.3%, affecting net earnings, which were $213.1 million, compared to $279.5 million in 2024, a year that included a $78.1 million revaluation gain. Free cash flow from operations saw a significant increase, reaching $226 million, up from $118.8 million. The company repurchased 1.3 million shares for $100 million and paid $112.1 million in dividends, reflecting strong shareholder returns. Net debt was $1.63 billion with a leverage ratio of 1.04x, supported by $963 million in cash and significant credit capacity. CCL also planned capital spending of $485 million for the year, with notable growth in their CCL Design and Healthcare segments.CCL Industries (A) Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
76
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.89B | 7.66B | 7.25B | 6.65B | 6.38B | 5.73B |
| Gross Profit | 2.35B | 2.30B | 2.14B | 1.91B | 1.72B | 1.59B |
| EBITDA | 1.68B | 1.63B | 1.57B | 1.19B | 1.21B | 1.15B |
| Net Income | 810.60M | 802.40M | 843.10M | 530.20M | 622.70M | 599.10M |
Balance Sheet | ||||||
| Total Assets | 11.05B | 10.10B | 9.86B | 8.92B | 8.66B | 7.63B |
| Cash, Cash Equivalents and Short-Term Investments | 975.60M | 998.20M | 828.70M | 774.20M | 839.50M | 602.10M |
| Total Debt | 2.72B | 2.41B | 2.45B | 2.28B | 2.36B | 1.85B |
| Total Liabilities | 5.38B | 4.46B | 4.58B | 4.30B | 4.40B | 3.88B |
| Stockholders Equity | 5.66B | 5.64B | 5.28B | 4.62B | 4.27B | 3.75B |
Cash Flow | ||||||
| Free Cash Flow | 825.10M | 863.20M | 601.90M | 541.70M | 545.60M | 514.90M |
| Operating Cash Flow | 1.25B | 1.30B | 1.06B | 1.00B | 992.80M | 838.70M |
| Investing Cash Flow | -598.80M | -437.70M | -600.30M | -768.00M | -706.60M | -541.30M |
| Financing Cash Flow | -684.40M | -709.50M | -424.30M | -295.20M | -72.60M | -370.00M |
CCL Industries (A) Technical Analysis
Positive
93.99
Price Trends
93.17
Positive
89.67
Positive
88.00
Positive
Market Momentum
0.18
Positive
54.84
Neutral
60.91
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CCL.A, the sentiment is Positive. The current price of 93.99 is below the 20-day moving average (MA) of 94.47, above the 50-day MA of 93.17, and above the 200-day MA of 88.00, indicating a bullish trend. The MACD of 0.18 indicates Positive momentum. The RSI at 54.84 is Neutral, neither overbought nor oversold. The STOCH value of 60.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:CCL.A.
CCL Industries (A) Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | C$2.61B | 14.03 | 10.41% | 0.45% | 0.26% | 1.01% | |
76 Outperform | C$16.01B | 20.26 | 14.41% | 1.45% | 5.44% | 4.67% | |
73 Outperform | C$6.07B | 8.96 | 10.96% | 1.16% | 9.32% | 227.52% | |
64 Neutral | C$1.73B | 13.56 | 7.24% | 2.81% | 0.55% | ― | |
63 Neutral | C$462.87M | 1.33 | 22.24% | 381.75% | -29.78% | 88.96% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | C$462.87M | 1.33 | 22.24% | 300.37% | -29.78% | 88.96% |
* Consumer Cyclical Sector Average
TSE:CCL.A
CCL Industries (A)
94.94
14.50
18.03%
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CCL Industries (A) Corporate Events
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
CCL Industries Delivers Record Q2 2026 Earnings Amid Broad-Based Growth
Positive
Aug 12, 2026
CCL Industries reported record results for the second quarter of 2026, with sales rising 9.1 percent to $2.11 billion and operating income up 8.8 percent, supported by 5 percent organic growth, 1.8 percent acquisition contributions and a 2.3 perce...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.