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Winpak Ltd. manufactures and distributes packaging materials and related packaging machines in the United States, Canada, and Mexico. It 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, high-performance pouches, and high-barrier films for converting applications; specialty films for barrier and non-barrier film converting applications, such as printing, laminating and bag making, as well as shrink bags; 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; die-cut, daisy chain, and rollstock formats for food, dairy, beverage, pet food, 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 and seal machines for preformed containers and vertical form, fill, and 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.
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Winpak Ltd is a Canada-based manufacturer of packaging materials and machinery for food, medical and consumer product companies, supplying specialty films, foil and automated packaging systems. Long-term growth could be supported by steady demand for packaged and healthcare products, adoption of value-added materials and automation, and the firm's technical capabilities with durable customer relationships.
Key risks include volatility in resin, aluminum and energy input costs, regulatory and sustainability pressures on plastic packaging that could raise compliance costs or curb demand, and execution risk around capacity and technology investments.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 190.93M | 209.94M | 199.79M | 174.09M | 141.61M |
| Minority interest | 0.16M | -1.61M | 0.54M | 0.12M | -2.54M |
| Net income | 139.43M | 149.46M | 148.13M | 128.34M | 103.81M |
| Selling general administrative | 144.61M | 48.86M | 41.19M | 42.18M | 31.60M |
| Selling and marketing expenses | - | 98.59M | 93.16M | 95.38M | 83.85M |
| Gross profit | 346.74M | 361.63M | 334.15M | 331.76M | 274.45M |
| Reconciled depreciation | 56.80M | 54.56M | 49.54M | 49.39M | 47.26M |
| Ebit | 178.36M | 210.84M | 200.68M | 172.28M | 142.44M |
| Ebitda | 236.15M | 265.40M | 250.22M | 231.75M | 189.35M |
| Depreciation and amortization | 57.79M | 54.56M | 49.54M | 59.47M | 46.91M |
| Operating income | 178.36M | 186.96M | 180.70M | 172.28M | 142.44M |
| Other operating expenses | 966.76M | 943.94M | 960.71M | 1005.18M | 860.82M |
| Interest expense | 4.50M | 0.90M | 0.88M | 0.77M | 0.82M |
| Tax provision | 50.46M | 58.87M | 52.20M | 45.86M | 35.27M |
| Interest income | 14.10M | 26.42M | 24.42M | 5.47M | 0.29M |
| Net interest income | 14.43M | 26.67M | 23.53M | 5.64M | 0.09M |
| Income tax expense | 51.34M | 58.87M | 52.20M | 45.86M | 35.27M |
| Total revenue | 1145.12M | 1130.89M | 1141.41M | 1181.13M | 1001.99M |
| Total operating expenses | 168.38M | 174.67M | 153.45M | 155.81M | 133.28M |
| Cost of revenue | 798.38M | 769.27M | 807.25M | 849.37M | 727.55M |
| Total other income expense net | 12.56M | 22.98M | 19.09M | 1.80M | -0.82M |
| Net income from continuing ops | 137.19M | 151.07M | 147.59M | 128.22M | 106.35M |
| Net income applicable to common shares | 137.34M | 149.46M | 148.13M | 128.34M | 103.81M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 1560.16M | 1647.08M | 1571.47M | 1462.49M | 1321.69M |
| Intangible assets | 11.81M | 12.27M | 13.40M | 14.68M | 16.04M |
| Other current assets | 9.41M | - | 10.48M | 5.60M | 6.70M |
| Total liab | 239.81M | 363.21M | 187.82M | 223.71M | 205.96M |
| Total stockholder equity | 1285.35M | 1248.66M | 1350.05M | 1202.77M | 1079.62M |
| Other current liab | -2.48M | 190.36M | 41.54M | 55.50M | 28.43M |
| Common stock | 26.30M | - | 29.20M | 29.20M | 29.20M |
| Capital stock | 26.35M | 27.73M | 29.20M | 29.20M | 29.20M |
| Retained earnings | 1258.56M | 1224.10M | 1319.49M | 1174.55M | 1050.95M |
| Other liab | - | - | - | 87.78M | 96.74M |
| Good will | 17.40M | 17.43M | 18.43M | 18.43M | 18.43M |
| Other assets | 12.60M | - | - | 10.78M | 13.55M |
| Cash | 374.94M | 497.26M | 541.87M | 398.67M | 377.46M |
| Cash and equivalents | 349.43M | - | - | 363.24M | 358.71M |
| Total current liabilities | 135.86M | 264.94M | 93.95M | 124.72M | 97.04M |
| Current deferred revenue | 0.47M | - | 1.48M | 2.62M | 3.50M |
| Net debt | -345.01M | - | -528.03M | -386.14M | -363.97M |
| Short term debt | 2.57M | - | 2.00M | 1.32M | 1.31M |
| Short long term debt total | 29.92M | - | 13.84M | 12.53M | 13.49M |
| Other stockholder equity | 0.49M | - | -0.00M | -0.97M | -0.52M |
| Property plant equipment | 657.64M | - | - | 518.59M | 515.25M |
| Total current assets | 861.93M | 983.30M | 984.04M | 900.01M | 758.43M |
| Net tangible assets | - | - | - | 1169.66M | 1045.15M |
| Net receivables | 225.64M | 201.88M | 211.92M | 207.61M | 187.21M |
| Inventory | 251.94M | 250.38M | 219.76M | 288.12M | 187.06M |
| Accounts payable | 135.30M | 64.04M | 48.93M | 65.28M | 63.79M |
| Accumulated other comprehensive income | 0.49M | - | 1.36M | -0.97M | -0.52M |
| Non currrent assets other | 12.57M | - | 12.21M | 10.78M | 13.55M |
| Non current assets total | 698.23M | 663.78M | 587.43M | 562.48M | 563.27M |
| Capital lease obligations | 16.28M | 17.85M | 13.84M | 12.53M | 13.49M |
| Long term debt total | 13.70M | - | - | 11.21M | 12.18M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | - | -123.77M | -69.03M | -49.46M | -48.54M |
| Change to liabilities | - | - | - | 9.71M | 28.78M |
| Total cashflows from investing activities | -87.34M | -123.77M | -69.03M | -49.46M | -48.54M |
| Net borrowings | -1.99M | -1.62M | -0.96M | -0.86M | -0.81M |
| Total cash from financing activities | -226.04M | -102.75M | -8.61M | -6.90M | -166.40M |
| Change to operating activities | - | - | - | -0.81M | -3.57M |
| Net income | 139.43M | 151.07M | 148.13M | 128.22M | 106.35M |
| Change in cash | -145.84M | -44.61M | 143.20M | 21.21M | -117.89M |
| Begin period cash flow | 520.78M | 541.87M | 398.67M | 377.46M | 495.35M |
| End period cash flow | 374.94M | 497.26M | 541.87M | 398.67M | 377.46M |
| Total cash from operating activities | 189.61M | 181.92M | 220.84M | 77.57M | 97.06M |
| Depreciation | 57.79M | 54.56M | 49.54M | 49.39M | 47.26M |
| Other cashflows from investing activities | - | -0.46M | -0.36M | - | - |
| Dividends paid | 142.27M | -6.62M | -5.79M | 6.03M | 165.60M |
| Change to inventory | -2.05M | -30.62M | 68.36M | -101.06M | -51.43M |
| Change to account receivables | 1.95M | -10.90M | -6.66M | -26.18M | -41.98M |
| Sale purchase of stock | -81.75M | -94.51M | 0.00M | - | - |
| Other cashflows from financing activities | -2.02M | 0.00M | -1.86M | -49.46M | -48.54M |
| Change to netincome | - | - | - | 18.18M | 14.18M |
| Capital expenditures | 86.38M | 123.77M | 69.03M | 49.46M | 48.54M |
| Change in working capital | -5.96M | -23.11M | 59.38M | -116.43M | -68.19M |
| Stock based compensation | - | - | 0.81M | - | - |
| Other non cash items | -1.65M | -59.47M | -89.22M | -29.47M | -23.63M |
| Free cash flow | 103.23M | 58.14M | 151.81M | 28.11M | 48.52M |
Sector: Consumer Cyclical Industry: Packaging & Containers
|
Stock Name
|
Change
(CAD) |
Price
(CAD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| WPK Winpak Ltd. |
-0.09 0.20% |
44.78 | 13.87 | 12.76 | 2.23 | 1.42 | 1.31 | 6.01 |
| CCL-B CCL Industries Inc |
- -% |
99.45 | 15.94 | 14.71 | 1.54 | 2.17 | 1.80 | 8.99 |
| TCL-A Transcontinental Inc |
0.06 1.10% |
5.52 | 13.74 | 6.83 | 0.40 | 0.61 | 0.71 | 5.33 |
| TCL-B Transcontinental Inc |
- -% |
6.75 | 13.64 | 6.84 | 0.40 | 0.61 | 0.71 | 5.36 |
| CAS Cascades Inc. |
- -% |
17.59 | 15.85 | 8.19 | 0.23 | 0.64 | 0.63 | 5.62 |
Winpak Ltd. manufactures and distributes packaging materials and related packaging machines in the United States, Canada, and Mexico. It 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, high-performance pouches, and high-barrier films for converting applications; specialty films for barrier and non-barrier film converting applications, such as printing, laminating and bag making, as well as shrink bags; 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; die-cut, daisy chain, and rollstock formats for food, dairy, beverage, pet food, 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 and seal machines for preformed containers and vertical form, fill, and 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.
| Name | Title | Year Born |
|---|---|---|
| Mr. Olivier Y. Muggli | Pres & CEO | NA |
| Mr. Mustafa Bilgen | VP of Technology & Innovation | NA |
| Mr. James C. Holland | VP & Pres of Winpak Division and Winpak Films Inc. | NA |
| Mr. Scott McKenzie Taylor | VP, CFO and Director of Corp. Accounting & Treasury | NA |
| M. D. Meyer | Sec. | NA |
| Mr. Olivier Y. Muggli | President & CEO | NA |
| Mr. Scott McKenzie Taylor | VP, CFO and Director of Corporate Accounting & Treasury | NA |
| Mr. Mustafa Bilgen | Vice President of Technology & Innovation | NA |
| Mr. James C. Holland | President of Winpak Division & Winpak Films Inc. | NA |
| Ryan M. Roberts | President of Winpak Portion Packaging, Winpak Heat Seal & Winpak Lane, Inc | NA |
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