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Cascades Inc. (CAS.TO)

CAD12.08 +0.09 (+0.75%)
CA TSX Consumer Cyclical Packaging & Containers
Address 404 Marie-Victorin Boulevard J0A 1B0
Kingsey Falls, QC, CA
CEO Hugues Simon
IPO 1995-01-12
ISIN CA1469001053

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Also trades on Other OTC · CADNF (USD) Toronto Stock Exchange · CAS.TO (CAD)
Description

Cascades Inc. is a prominent North American manufacturer, converter, and distributor specializing in a diverse range of packaging and tissue paper products. The company's operations are strategically divided into three key business units: Containerboard, Specialty Products, and Tissue Papers. The Containerboard segment focuses on producing containerboard materials and converting them into various corrugated goods. Its Specialty Products division boasts a diverse portfolio, including recycled uncoated paperboards utilized by packaging converters, industrial clients for paper headers and wrappers, and as protective partitions. This segment also provides honeycomb paperboards tailored for the beverage alcohol sector, laminated paperboards for food packaging and furniture support, alongside custom containers, structural elements, and advanced paperboard and fiber composite materials. Furthermore, it supplies egg filler flats and cartons to poultry processors, four-cup carriers for the fast-food industry, polystyrene foam trays for food processing and retail, rigid plastic packaging solutions for various food applications, and flexible films for frozen food, bakery, and ice products. The Tissue Papers segment encompasses a comprehensive selection of bathroom and facial tissues, paper towels, hand towels, and napkins, along with complementary services. These are sold under professional lines such as Cascades PRO Signature, PRO Perform, PRO Select, PRO Tandem, and PRO Tuff-Job, as well as consumer-focused labels like Cascades Fluff, Cascades Tuff, and Satin Soft, in addition to private label and other brand offerings. Beyond its core manufacturing, Cascades also extends its expertise to material recovery and processing services for discarded materials generated by municipal, industrial, commercial, and institutional entities. Distribution of its products is managed by both an in-house sales team and external representatives. Established in 1964, Cascades Inc. has its corporate headquarters situated in Kingsey Falls, Canada.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
CAD12.08 +0.09 (+0.75%)
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Volume Profile
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Liquidity & share structure
Average Volume
231.6K
Beta
0.68
Float Shares
76.74M
Free Float %
75.7%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-1.76% -1.85% -0.94% -22.87% -17.46% -15.01% +26.83% -10.56% -21.67% +12.78% +51.29%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Analyst Consensus (1 ratings, all time) Hold
Price Targets & DCF
Current price
12.08
DCF (Unlevered) 121.01 +901.7%
DCF (Levered) 56.66 +369.0%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 50% Bullish
Rating 2026-05 Change
Strong Buy 2 0
Buy 1 0
Hold 3 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
1.81
Grey zone
Piotroski F-Score
6 / 9
Average
MOAT Score
4 / 10
Developing
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
1 / 5
Low
ROE Score
3 / 5
Medium
ROA Score
4 / 5
High
D/E Score
1 / 5
Low
P/E Score
4 / 5
High
P/Book Score
5 / 5
High
Operational MOAT
✗ Below peers
  • Revenue growth Packaging & Containers: +2.6%
    +1.6% Q1'26: -2.5% (vs Q1'25)
  • EPS growth Packaging & Containers: +8.0%
    +322.6% Q1'26: +450.7% (vs Q1'25)
  • FCF margin FCF growth · Packaging & Containers: +34.6%
    +5.4% Q1'26: -0.9% (vs Q1'25)
  • EBIT margin Packaging & Containers: +7.0%
    +6.4% Q1'26: +4.4% (vs Q1'25)
  • ROIC Packaging & Containers: +6.2%
    +6.7% Q1'26: +4.5% (vs Q1'25)
  • Share dilution Packaging & Containers: +0.2%
    +0.2% Q1'26: +0.6% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Packaging & Containers: 0.83×
    3.29× Q1'26: 4.14× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.66) × ERP
WACC = 36% × Ke + 64% × Kd (7.0%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 121.01 Current price: 12.08
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2010
actual
Dec 2011
actual
Dec 2012
actual
Dec 2013
actual
Dec 2014
actual
Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
4 Rev. Ana.
3 EPS Ana.
Dec 2027
4 Rev. Ana.
3 EPS Ana.
Dec 2028
2 Rev. Ana.
1 EPS Ana.
Dec 2029
3 Rev. Ana.
1 EPS Ana.
Revenue
3.96B
est: 4.02B (-1.5%)
3.63B
est: 3.78B (-4.0%)
3.65B
est: 3.69B (-1.2%)
3.85B
est: 3.93B (-2.2%)
3.56B
est: 3.89B (-8.4%)
3.86B
est: 3.85B (+0.2%)
4.00B
est: 3.99B (+0.2%)
4.32B
est: 4.32B (0.0%)
4.65B
est: 4.63B (+0.4%)
5.00B
est: 4.99B (+0.0%)
5.16B
est: 5.09B (+1.2%)
3.96B
est: 4.13B (-4.2%)
4.47B
est: 4.47B (0.0%)
4.64B
est: 4.63B (+0.3%)
4.70B
est: 4.68B (+0.4%)
4.78B
est: 4.78B (0.0%)
4.80B
4.70B – 4.87B
+0.4% YoY
4.95B
4.79B – 5.08B
+3.2% YoY
4.78B
4.66B – 4.88B
-3.4% YoY
4.78B
4.66B – 4.88B
+0.0% YoY
EBITDA
250.00M
est: 177.75M (+40.6%)
193.00M
est: 109.87M (+75.7%)
272.00M
est: 121.16M (+124.5%)
345.00M
est: 104.53M (+230.0%)
332.00M
est: 103.70M (+220.1%)
230.00M
est: -84.62M (+371.8%)
431.00M
est: 23.81M (+1,709.9%)
712.00M
est: 369.20M (+92.8%)
460.00M
est: 1.06B (-56.4%)
505.00M
est: 303.23M (+66.5%)
548.00M
est: 304.66M (+79.9%)
281.00M
est: 308.24M (-8.8%)
273.00M
est: 331.50M (-17.6%)
330.00M
est: 847.86M (-61.1%)
392.00M
est: 857.99M (-54.3%)
591.00M
est: 875.84M (-32.5%)
879.34M
862.32M – 891.90M
+0.4% YoY
907.53M
879.01M – 931.80M
+3.2% YoY
876.66M
854.30M – 894.73M
-3.4% YoY
876.99M
854.62M – 895.07M
+0.0% YoY
EBIT
96.00M
est: 196.24M (-51.1%)
23.00M
est: 107.99M (-78.7%)
82.00M
est: 15.63M (+424.5%)
134.00M
est: 80.00M (+67.5%)
63.00M
est: 138.27M (-54.4%)
80.00M
est: 93.68M (-14.6%)
273.00M
est: 138.74M (+96.8%)
538.00M
est: 239.28M (+124.8%)
237.00M
est: 172.44M (+37.4%)
212.00M
est: 246.04M (-13.8%)
307.00M
est: 249.46M (+23.1%)
48.00M
est: 252.39M (-81.0%)
41.00M
est: 271.43M (-84.9%)
58.00M
est: 578.64M (-90.0%)
110.00M
est: 585.56M (-81.2%)
304.00M
est: 597.74M (-49.1%)
600.13M
588.51M – 608.70M
+0.4% YoY
619.37M
599.90M – 635.93M
+3.2% YoY
598.30M
583.04M – 610.63M
-3.4% YoY
598.52M
583.26M – 610.86M
+0.0% YoY
Net Income
17.00M
est: 61.65M (-72.4%)
99.00M
est: 15.96M (+520.1%)
-11.00M
est: 96.73M (-111.4%)
11.00M
est: -11.73M (+193.7%)
-147.00M
est: 10.86M (-1,453.1%)
-65.00M
est: -148.08M (+56.1%)
135.00M
est: -67.30M (+300.6%)
507.00M
est: 146.17M (+246.9%)
57.00M
est: 543.03M (-89.5%)
97.00M
est: 61.51M (+57.7%)
198.00M
est: 70.54M (+180.7%)
-47.00M
est: 71.37M (-165.9%)
-14.00M
est: 76.76M (-118.2%)
-76.00M
est: -42.00M (-81.0%)
-31.00M
est: 64.80M (-147.8%)
70.00M
est: 109.57M (-36.1%)
92.08M
72.10M – 112.05M
-16.0% YoY
140.00M
102.47M – 175.51M
+52.0% YoY
156.82M
151.62M – 161.02M
+12.0% YoY
135.92M
131.41M – 139.56M
-13.3% YoY
SGA
395.00M
est: 424.33M (-6.9%)
362.00M
est: 370.94M (-2.4%)
382.00M
est: 353.71M (+8.0%)
406.00M
est: 407.47M (-0.4%)
334.00M
est: 400.99M (-16.7%)
360.00M
est: 336.46M (+7.0%)
402.00M
est: 372.73M (+7.9%)
440.00M
est: 435.25M (+1.1%)
410.00M
est: 471.27M (-13.0%)
453.00M
est: 442.44M (+2.4%)
460.00M
est: 463.13M (-0.7%)
356.00M
est: 468.57M (-24.0%)
992.00M
est: 503.93M (+96.9%)
1.09B
est: 769.53M (+41.1%)
1.09B
est: 778.73M (+39.5%)
261.00M
est: 794.93M (-67.2%)
798.11M
782.66M – 809.50M
+0.4% YoY
823.69M
797.80M – 845.72M
+3.2% YoY
795.67M
775.38M – 812.08M
-3.4% YoY
795.97M
775.67M – 812.38M
+0.0% YoY
EPS
0.18
est: 0.65 (-72.5%)
1.03
est: -0.04 (+3,013.7%)
-0.12
est: 0.29 (-141.4%)
0.11
est: 0.20 (-46.1%)
-1.56
est: 0.35 (-543.8%)
-0.69
est: 1.28 (-153.8%)
1.42
est: 1.25 (+14.1%)
5.35
est: 0.80 (+568.1%)
0.60
est: 1.12 (-46.3%)
1.03
est: 0.94 (+10.0%)
2.06
est: 1.80 (+14.4%)
-0.46
est: 0.21 (-321.1%)
-0.14
est: 0.35 (-140.4%)
-0.76
est: -0.42 (-82.2%)
-0.31
est: 0.64 (-148.4%)
0.69
est: 1.08 (-35.8%)
0.85
0.71 – 1.10
-21.2% YoY
1.41
1.01 – 1.73
+66.8% YoY
1.55
1.49 – 1.59
+9.4% YoY
1.34
1.30 – 1.38
-13.3% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-08 B+ 3/5 1/5 3/5 4/5 1/5 4/5 5/5
2026-05-07 B 3/5 1/5 2/5 4/5 1/5 3/5 5/5
2026-05-06 B 3/5 1/5 2/5 4/5 1/5 3/5 5/5
2026-05-05 B 3/5 1/5 2/5 4/5 1/5 3/5 5/5
2026-05-04 B 3/5 1/5 2/5 4/5 1/5 3/5 5/5
2026-05-01 B 3/5 1/5 2/5 4/5 1/5 3/5 5/5
2026-04-30 B 3/5 1/5 2/5 4/5 1/5 3/5 5/5
2026-04-29 B- 3/5 1/5 2/5 4/5 1/5 3/5 4/5
2026-04-28 B- 3/5 1/5 2/5 4/5 1/5 3/5 4/5
2026-04-27 B- 3/5 1/5 2/5 4/5 1/5 3/5 4/5
2026-04-24 B- 3/5 1/5 2/5 4/5 1/5 3/5 4/5
2026-04-23 B- 3/5 1/5 2/5 4/5 1/5 3/5 4/5
2026-04-22 B- 3/5 1/5 2/5 4/5 1/5 3/5 4/5
2026-04-21 B- 3/5 1/5 2/5 4/5 1/5 3/5 4/5
2026-04-20 B- 3/5 1/5 2/5 4/5 1/5 3/5 4/5
2026-04-17 B- 3/5 1/5 2/5 4/5 1/5 3/5 4/5
2026-04-16 B- 3/5 1/5 2/5 4/5 1/5 3/5 4/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
305.59M
OE per share TTM
3.01
Owner's Yield
27.99%
Maintenance CapEx ratio
115.72%
Maint CapEx / Avg PPE
59.1%

Ownership Overview

Ownership breakdown
At a glance
Institutional holders
1
Total invested
360.4K
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend From To
13F snapshot — 2025 Q3
Investors holding
1
+1 vs prev Q
New positions
1
Closed positions
0
Increased
1
Reduced
0
Put/Call ratio
0.00
Calls held
Puts held
Top institutional holders
# Investor Shares / Δ Mkt value / Δ Own% / Δ Weight% / Δ Avg px / Perf. Hold / Status
1 FOLGER NOLAN FLEMING DOUGLAS CAPITAL MANAGEMENT, INC -52.0K (-100.0%) -360.4K (-100.0%) 0.00% -0.051 pp 0.00% -0.038 pp CAD 4 qtrs SOLD
Ownership breakdown by holder

ETF Ownership

Top ETFs holding this stock Held by 30 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 iShares S&P/TSX SmallCap Index ETF XCS.TO 0.30% 511.0K 0.60%
2 Dimensional - International Small Cap Value ETF DISV 0.09% 4.23M 0.42%
3 iShares International Small-Cap Equity Factor ETF ISCF 0.09% 574.4K 0.24%
4 iShares ESG Aware MSCI Canada Index ETF XESG.TO 0.08% 369.6K 0.17%
5 Schwab Fundamental International Small Company Index ETF FNDC 0.05% 1.65M 0.39%
6 Avantis International Small Cap Value ETF AVDV 0.04% 8.16M 0.36%
7 iShares ESG Advanced MSCI Canada Index ETF XCSR.TO 0.03% 117.7K 0.17%
8 State Street SPDR S&P International Small Cap ETF GWX 0.03% 247.2K 0.40%
9 Avantis Global Small Cap Value UCITS ETF AVGS.L 0.02% 245.5K 0.39%
10 TD Canadian Equity Index ETF TTP.TO 0.02% 890.3K 0.05%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
31.3K
Shares Outstanding
101.31M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Hugues Simon President, Chief Executive Officer & Director 2M male
Jean-David Tardif Executive Vice-President of Packaging 1M male
Jérôme Porlier Executive Vice-President of Tissue 825.2K male
Alain Lemaire Co-Founder & Director 791.7K
Allan Hogg Vice President & Chief Financial Officer 501.2K male
Hugo D'Amours Vice-President, Communications, Public Affairs & Sustainable Development male
Emmanuelle Migneault Chief Human Resources Officer female
Jennifer Aitken Director of Investor Relations female
Michael Guerra Corporate Secretary male
Riko Gaudreault Vice President of Corporate Development male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits