CCL Industries logo

CCL Industries

CCL-B.TO
44
Packaging & Containers · Consumer Cyclical
Price
C$83.94
-0.10 (-0.12%)
Market Cap
C$14.43B
Exchange
Toronto Stock Exchange
Winston Score
44
Winston looking serious
Winston is serious
Mixed quality — meaningful strengths and weaknesses.

Winston Score between 40 and 70. The stock passes some quality checks but not all.

CCL Industries is a Canadian company that makes labels and packaging for products people use every day. Its main business is printing and producing labels for things like shampoo bottles, food containers, medicine packaging, and credit cards. It sells to large consumer goods companies, healthcare brands, and financial institutions around the world.

CCL makes money by manufacturing and selling these labels and packaging materials directly to businesses. It operates in over 40 countries, making it one of the largest label manufacturers in the world, which gives it scale advantages that are hard for smaller competitors to match. The company's main growth driver is winning new contracts with global consumer brands expanding into emerging markets, while its biggest risk is rising raw material costs — particularly paper, film, and aluminum — which can squeeze profit margins if CCL cannot pass those costs on to customers.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+2.8% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+0.0% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

15.5%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$999M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Winston looking curious
Growth context

CCL Industries is growing revenue at 3% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin
30.2%
Modest — 30.2% gross margin
Operating Margin
15.3%
Healthy — 15.3% operating margin
ROCE
3.8%
Weak — 3.8% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY
+4.3%
Slow sales growth (4.3% YoY)
EPS YoY
-5.0%
Earnings shrinking (-5.0% YoY)

Slight earnings drop. Typical near a cyclical low.

EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion
161%
Turns 161% of profit into real cash
FCF Margin
11.2%
Modest free cash flow (11.2%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity
0.40
Conservative — low debt load (0.40)
Interest Cover
11.60x
Comfortably covers interest (11.6x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio
N/A
Data not available
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend Yield
1.58%
Small dividend — 1.58% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth
+11.5%
Dividend growing fast (11.5% YoY)

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