Transcontinental Inc. TCL.A

MaterialsContainers & PackagingCanada

Last close 5.59 CAD on Nov 1, 2026, +808.7% year to date

Quant rating

Quant rating A Rank 1 of 154 in Materials

Growth C 75 of 154
Valuation A 10 of 154
Quality B 31 of 154
Revisions A 14 of 154
Momentum A 2 of 154

Wall Street consensus Buy (2.29)Average target 7.00 CAD +25.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 478M
Enterprise value: 904M
52-week range: 2.72 – 6.14
3-year range: 1.39 – 6.14
Dividend yield: 3.58%
Beta (5 years): 0.26
Shares outstanding: 83.6M
Next earnings: Dec 9, 2026

About the company

Transcontinental Inc. is a Canadian retail marketing services company, Canada's printer, and a Canadian French-language educational publishing. The Retail Services and Printing Sector of the Company provides an integrated service offering for retailers, including content and business intelligence solutions, marketing solutions, including print and digital flyers, as well as in-store marketing and specialized products. It also offers an array of print solutions for newspapers. The Books and Education Sector offers an array of print solutions for magazines and four-colour books as well as educational and specialized publishing services in print and digital formats and book distribution services. Its services include Retail Services & Printing, In-Store Marketing, Premedia, raddar Flyers Solution, and Books & Education.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	2,744	2,813	2,941	2,956	2,643	–
Revenue growth	−2.5%	−4.3%	−0.5%	11.8%	2.7%	1.3%
EPS (basic, normalized)	2.59	2.34	2.03	2.19	2.37	–
EPS growth	10.7%	15.3%	−7.3%	−7.6%	–	–
Gross margin	50.1%	49.0%	46.1%	44.8%	47.0%	47.4%
Net margin	6.2%	4.3%	2.9%	4.8%	4.9%	4.6%
ROE	8.9%	6.4%	4.5%	7.8%	7.5%	7.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	14.7
Current ratio	1.47x
Long-term debt (mil)	411
Net debt (mil)	426
Total equity (mil)	418
Net debt / equity	1.02x
Net debt / EBITDA	0.91x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	2,744	−2.5%	0.3x	466	+0.5%	1.9x	2.59	+10.7%	2.2x
2026	1,157	−57.8%	0.8x	210	−55.0%	4.3x	1.05	−59.6%	5.3x
2027	1,156	−0.1%	0.8x	214	+2.1%	4.2x	1.16	+10.5%	4.8x
2028	1,124	−2.8%	0.8x	221	+3.1%	4.1x	1.15	−0.8%	4.9x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	1,157	0.0%	+1.4%	+0.7%	1.05	0.0%	−5.1%	−2.6%
2027	1,156	0.0%	+2.0%	+2.5%	1.16	+1.6%	+0.9%	+5.1%
2028	1,124	−0.3%	−0.8%	−3.0%	1.15	+13.0%	+1.5%	+5.2%

Earnings surprises EPS beat in 1 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Apr 2024	Jul 2024	Oct 2024	Jan 2025	Apr 2025	Jul 2025	Oct 2025	Jan 2026	Apr 2026	Jul 2026
Sales reported (mil)	683	700	749	643	684	684	732	264	269	306
Sales mean (mil)	718	702	758	649	663	679	743	254	286	295
Surprise	−4.8%	−0.2%	−1.2%	−0.9%	+3.2%	+0.8%	−1.4%	+3.9%	−6.0%	+3.6%
EPS reported	0.52	0.60	0.79	0.49	0.58	0.70	0.82	0.08	0.19	0.32
EPS mean	0.44	0.56	0.73	0.36	0.54	0.69	0.87	0.16	0.16	0.38
Surprise	+17.1%	+7.9%	+8.5%	+34.2%	+6.7%	+1.9%	−5.6%	−49.4%	+15.9%	−14.8%

Peer comparison Containers & Packaging

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
TCL.A Transcontinental Inc.	478M	0.91x	6.2%	1.12x	5.3x	4.8x	4.3x	4.2x
SW Smurfit WestRock PLC	31.6B	2.70x	2.2%	1.26x	21.2x	13.2x	7.5x	6.2x
PKG Packaging Corp of America	32.0B	1.82x	8.6%	4.91x	24.3x	18.4x	12.4x	10.3x
AMCRY Amcor PLC	30.6B	–	–	–	–	–	–	–
IP International Paper Co	26.9B	2.98x	−12.0%	1.47x	31.4x	13.1x	8.5x	6.2x
BALL Ball Corp	24.6B	3.16x	6.9%	3.06x	16.5x	14.7x	11.2x	10.6x
Mean		2.31x	2.4%	2.36x	19.7x	12.8x	8.8x	7.5x
Median		2.70x	6.2%	1.47x	21.2x	13.2x	8.5x	6.2x

Technical analysis

1M+5.1%
3M+3.2%
1Y+942.2%
3Y+2,367.5%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, Transcontinental Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	2,744	2,813	2,941	2,956	2,643	2,574
Cost of revenue	1,369	1,435	1,585	1,632	1,402	1,322
Gross profit	1,375	1,378	1,355	1,324	1,242	1,252
Selling, general & administrative expenses	909	909	909	877	816	812
Research & development	–	–	–	–	–	–
Depreciation/amortization	209	215	235	232	208	217
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	−7.7	44.7	46.9	7.3	−12.7	−17.1
Other operating expenses	0	0	0	−10.0	−3.4	0
Operating income	264	210	165	217	234	241
Net interest income (expense)	−39.6	−50.0	−55.7	−33.9	−39.1	−44.2
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−2.7	−10.0	−10.6	−6.1	−3.2	−2.2
Net income before taxes	222	150	98.4	177	192	195
Provision for taxes	50.4	27.6	12.5	36.5	61.0	63.2
Minority interest	−0.4	−0.6	−0.1	0.4	0.1	−0.1
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	171	121	85.8	141	131	132
Extraordinary items	–	–	–	–	–	–
Net income	171	121	85.8	141	131	132
EBIT, normalized	256	251	212	225	221	224
EBITDA, normalized	465	466	446	456	448	462
Basic EPS, normalized	2.59	2.34	2.03	2.19	2.37	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, Transcontinental Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	47.0	185	137	45.7	231	241
Receivables	475	533	552	588	513	475
Total inventory	378	366	391	479	357	289
Prepaid expenses	25.0	21.7	20.6	21.8	24.4	20.3
Other current assets	12.0	109	0	0	0	0
Total current assets	938	1,215	1,100	1,135	1,126	1,025
Property, plant & equipment	824	851	895	897	830	847
Goodwill	1,180	1,154	1,195	1,182	1,087	1,099
Intangibles	328	354	447	520	513	568
Long-term investments	–	–	–	–	–	–
Note receivable	1.7	12.7	11.0	9.8	5.5	–
Other long-term assets	75.6	54.5	51.8	58.4	51.8	59.4
Total assets	3,346	3,641	3,700	3,801	3,613	3,598
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	241	289	273	286	255	224
Accrued expenses	120	128	112	124	126	119
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	279	225	25.6	36.0	210	252
Other current liabilities	86.4	124	115	102	101	81.7
Total current liabilities	726	765	526	547	692	678
Long-term debt	509	764	1,032	1,114	916	922
Minority interest	5.9	5.5	4.9	4.8	5.2	5.3
Other liabilities	193	197	235	258	241	260
Total liabilities	1,434	1,732	1,799	1,924	1,854	1,865
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	611	619	637	637	640	640
Additional paid-in capital	0.9	0.9	0.9	0.9	0.9	0.9
Retained earnings (accumulated deficit)	1,258	1,238	1,227	1,219	1,160	1,107
Treasury stock	–	–	–	–	–	–
Other equity	42.3	51.7	37.0	20.7	−41.3	−14.8
Total equity	1,913	1,909	1,901	1,877	1,759	1,733
Total liabilities & shareholders' equity	3,346	3,641	3,700	3,801	3,613	3,598

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, Transcontinental Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	171	122	85.9	141	130	132
Depreciation, depletion & amortization	209	215	235	232	227	238
Deferred taxes	–	–	–	–	–	–
Non-cash items	52.3	80.1	89.1	62.5	98.7	112
Changes in working capital	−78.5	−3.5	62.4	−214	−141	−54.6
Cash from operations	354	414	472	221	315	427
Investing activities
Capital expenditures	−99.5	−122	−178	−142	−138	−97.5
Other investing cash flows	110	8.9	12.3	−115	−42.7	224
Cash from investing	11.0	−113	−165	−257	−181	126
Financing activities
Financing cash flow items	−69.3	−46.8	−52.8	−37.9	−35.6	−45.7
Cash dividends paid	−159	−77.4	−78.0	−78.1	−78.3	−77.9
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−281	−134	−85.5	−34.9	−36.2	−403
Cash from financing	−510	−258	−216	−151	−150	−526
Foreign exchange effects	6.3	5.1	0.5	2.1	5.9	0.3
Net change in cash	−138	48.2	91.3	−185	−9.9	27.3
Free cash flow	255	292	295	78.4	177	330

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.