Education
About Us
Working with TipRanks
Follow Us
Yellow Pages Limited (TSE:Y)
:Y
Top Page
Yellow Pages
(OTC:Y)
72Outperform
Yellow Pages (Y) vs. S&P 500 (SPY)
Market Cap
C$146.47M
Dividend Yield9.86%
Average Volume (3M)4.02K
Price to Earnings (P/E)5.8
Beta (1Y)0.20
Revenue Growth-10.28%
EPS Growth-31.94%
CountryCA
Employees565
SectorCommunication Services
Sector Strength83
IndustryPublishing
Share Statistics
EPS (TTM)0.20
Shares Outstanding13,752,770
10 Day Avg. Volume6,413
30 Day Avg. Volume4,023
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$10.47Price Target Upside-1.68% Downside
Rating ConsensusHold
Number of Analyst Covering0
Yellow Pages Business Overview & Revenue Model
Company DescriptionYellow Pages Limited operates as a digital media and marketing solutions company in Canada. The company provides digital and traditional marketing solutions, including online and mobile priority placement on Yellow Pages digital media properties, content syndication, search engine solutions, website fulfillment, social media campaign management, digital display advertising, video production, e-commerce, and print advertising to small and medium-sized enterprises. Its online properties include YP.ca that allows users to discover and transact within their local neighborhoods through merchant profiles, editorial content, reviews, and booking functionalities; Canada411 for personal and local business information; and 411.ca, a digital directory service. The company also operates as a directory publisher for Bell, Telus, Bell Aliant, MTS Allstream, and other telephone companies; and holds the YP, Canada411, and 411 mobile applications. Yellow Pages Limited was founded in 1908 and is headquartered in Montreal, Canada.
How the Company Makes MoneyYellow Pages makes money by offering a suite of digital marketing and advertising services. Its primary revenue streams include selling online directory listings and advertising space to businesses looking to increase their visibility. Yellow Pages charges businesses for premium listings, which enhance their discoverability through better placement and additional information. The company also provides search engine marketing and optimization services, helping businesses improve their ranking on search engines, which is another significant revenue source. Additionally, Yellow Pages may earn revenue through partnerships with other digital platforms and companies that expand their advertising reach and service offerings.
Yellow Pages Financial Statement Overview
Summary
Yellow Pages demonstrates sound profitability and cash management despite revenue declines. The consistent reduction in leverage strengthens its financial position, yet the overall shrinking scale of operations and declining free cash flow warrant careful monitoring.Income Statement
The company has experienced a consistent decline in revenue over the past few years, with a significant drop from 2023 to 2024. Gross and net profit margins have been relatively stable, indicating efficient cost management. However, declining revenues remain a concern.72
Positive
Balance Sheet
The company has improved its debt-to-equity ratio, reflecting reduced leverage. Return on Equity (ROE) remains strong, driven by profitability. However, the shrinking asset base and stockholders' equity suggest potential risks in long-term financial stability.68
Positive
Cash Flow
The company exhibits strong operating cash flow relative to net income, highlighting effective cash management. Free cash flow has been positive but shows a declining trend, which could impact future growth investments.75
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 214.83M | 239.43M | 268.28M | 287.65M | 333.54M | Gross Profit |
| 50.84M | 76.86M | 96.57M | 102.00M | 129.44M | EBIT |
| 35.37M | 61.00M | 77.94M | 77.02M | 93.65M | EBITDA |
| 50.34M | 75.57M | 93.08M | 85.95M | 119.71M | Net Income Common Stockholders |
| 24.98M | 47.40M | 73.43M | 70.64M | 60.30M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 46.46M | 23.23M | 45.61M | 125.04M | 154.70M | Total Assets |
| 163.87M | 167.51M | 207.30M | 305.23M | 367.91M | Total Debt |
| 39.94M | 43.91M | 47.13M | 49.88M | 153.99M | Net Debt |
| -4.27M | 20.68M | 3.22M | -73.68M | 497.00K | Total Liabilities |
| 110.07M | 125.26M | 141.52M | 189.10M | 338.61M | Stockholders Equity |
| 53.80M | 42.26M | 65.78M | 116.13M | 29.30M |
| Cash Flow | Free Cash Flow | |||
| 36.54M | 42.81M | 44.50M | 99.50M | 121.42M | Operating Cash Flow |
| 39.02M | 46.77M | 49.50M | 104.58M | 127.00M | Investing Cash Flow |
| -513.00K | -2.50M | -3.67M | -4.48M | -3.01M | Financing Cash Flow |
| -17.54M | -64.94M | -125.49M | -130.03M | -14.91M |
Yellow Pages Technical Analysis
Positive
10.65
Price Trends
10.45
Positive
10.75
Negative
10.17
Positive
Market Momentum
-0.07
Negative
58.78
Neutral
52.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:Y, the sentiment is Positive. The current price of 10.65 is above the 20-day moving average (MA) of 10.19, above the 50-day MA of 10.45, and above the 200-day MA of 10.17, indicating a bullish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 58.78 is Neutral, neither overbought nor oversold. The STOCH value of 52.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:Y.
Yellow Pages Peers Comparison
Overall Rating
UnderperformOutperform
Sector (59)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | C$146.47M | 5.78 | 52.74% | 9.86% | -10.28% | -31.94% | |
59 Neutral | $13.78B | 7.66 | -2.74% | 3.86% | 2.20% | -37.62% | |
58 Neutral | C$102.48M | 112.57 | 1.09% | ― | 11.14% | ― | |
52 Neutral | C$18.36M | ― | -54.15% | ― | -8.39% | 75.35% | |
48 Neutral | C$103.35M | 62.54 | -0.02% | ― | 15.19% | 99.55% | |
42 Neutral | $140.66M | ― | 18.33% | ― | 0.15% | 10.95% |
* Communication Services Sector Average
Performance Comparison
TSE:Y
Yellow Pages
10.78
2.01
22.92%
TSE:PNC.B
Postmedia Network Canada
1.42
0.05
3.65%
TSE:GVC
Glacier Media
0.15
0.07
87.50%
TSE:ILLM
illumin Holdings
1.97
0.32
19.39%
TSE:FORA
VerticalScope Holdings
4.85
-3.35
-40.85%
Yellow Pages Earnings Call Summary
Earnings Call Date:Feb 13, 2025
(Q4-2024)
| % Change Since: -2.76%|
Next Earnings Date:May 08, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted improvements in revenue decrease rates and new customer acquisitions, alongside the completion of pension plan payments and a share price increase. However, significant revenue declines in digital and print products, a drastic reduction in adjusted EBITDA, and net income decreases indicate financial challenges. Workforce reductions add to the concerns, resulting in a mixed but cautiously optimistic outlook.Q4-2024 Updates
Positive Updates
Improvement in Revenue Decrease Rate
Revenue decreased by 8.1% year-over-year, amounting to $51.4 million for Q4 2024, an improvement from a 9.4% decrease in the previous quarter.
Increase in New Customer Acquisitions
New customer acquisitions were 6% higher than the same quarter last year and 28% higher for the year overall.
Completion of Pension Plan Payments
Completed voluntary payments into the pension plan, reaching a wind-up ratio of over 95%, and the Board approved a plan to de-risk the pension plan.
Dividend Declaration
Declared a dividend of $0.25 per common share to be paid on March 17, 2025.
Share Price Increase
The company's share price increased by 23% during the fourth quarter.
Negative Updates
Revenue Decline in Digital and Print Products
Digital revenues decreased by 7.2% year-over-year, and print revenues decreased by 11.5% year-over-year for Q4 2024.
Significant Decrease in Adjusted EBITDA
Adjusted EBITDA decreased by $8 million or 49.3% year-over-year to $8.2 million for Q4 2024. Adjusted EBITDA margin decreased to 16% from 29.1% in the same period last year.
Net Income Decline
Net income decreased to $2.7 million for Q4 2024 compared to $12.2 million for the same period last year.
Workforce Reduction
Workforce decreased by 10% to 565 employees compared to 627 at the same date last year.
Company Guidance
During the Yellow Pages Fourth Quarter 2024 earnings call, the company provided detailed guidance on its financial performance and strategic initiatives. Revenue for the fourth quarter was reported at $51.4 million, reflecting an 8.1% year-over-year decrease, with digital revenues down by 7.2% and print revenues by 11.5%. Despite these declines, the company noted a favorable trend in revenue changes compared to the previous quarter, with new customer acquisitions rising by 6% for the quarter and 28% for the year. Adjusted EBITDA for the quarter stood at 16.0% of revenue, impacted by stock-based compensation adjustments due to a 23% increase in share price, and for the full year, it was 23.7%. The company's cash balance was healthy at approximately $49 million, and it completed $6 million in voluntary pension contributions for the year, achieving a wind-up ratio of over 95%. The board declared a dividend of $0.25 per common share, underscoring their confidence in the company's financial health.Yellow Pages Corporate Events
Executive/Board ChangesBusiness Operations and Strategy
Yellow Pages Announces Leadership Changes with CEO Retirement
Positive
Apr 11, 2025
Yellow Pages Limited announced the retirement of CEO David A. Eckert, effective July 15, 2025, with Sherilyn King named as his successor. Under Eckert’s leadership, the company achieved significant financial milestones, including debt repayment and shareholder returns. King’s promotion is expected to continue the company’s progress towards revenue stability. Additionally, Assunta Tortis has been appointed as Corporate Vice President of Finance, while CFO Franco Sciannamblo will also depart following a transition period.
Spark’s Take on TSE:Y Stock
According to Spark, TipRanks’ AI Analyst, TSE:Y is a Neutral.
The stock score of 69 reflects Yellow Pages’ strong valuation metrics and sound financial management, offset by a challenging revenue environment and mixed technical indicators. While the low P/E ratio and high dividend yield make the stock attractive, ongoing revenue declines and EBITDA reduction pose risks. The company’s ability to stabilize revenues and improve profitability will be crucial for future performance.
To see Spark’s full report on TSE:Y stock, click here.
DividendsBusiness Operations and StrategyFinancial Disclosures
Yellow Pages Limited Reports 2024 Financial Results, Declares Dividend
Positive
Feb 13, 2025
Yellow Pages Limited announced its financial results for the fourth quarter and full year 2024, highlighting progress toward revenue stability and profitability. The company reported a favorable shift in its revenue curve, with an increase in new customer acquisitions and a solid cash balance of $49 million. Despite a non-cash charge affecting reported earnings due to stock-based compensation, Adjusted EBITDA margins remained healthy, supported by significant investments in revenue initiatives. Additionally, the company completed its voluntary pension plan payments and declared a quarterly dividend, reflecting its commitment to shareholders and financial stability.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.