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CORBY SPIRIT AND WINE LTD (CSW-A.CA) Stock Fundamental Analysis

TSX:CSW-A - Toronto Stock Exchange - CA2183491083 - Common Stock - Currency: CAD

14.21  +0.14 (+1%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to CSW-A. CSW-A was compared to 12 industry peers in the Beverages industry. CSW-A scores excellent on profitability, but there are some minor concerns on its financial health. CSW-A has a valuation in line with the averages, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

In the past year CSW-A was profitable.
In the past year CSW-A had a positive cash flow from operations.
Each year in the past 5 years CSW-A has been profitable.
CSW-A had a positive operating cash flow in each of the past 5 years.
CSW-A.CA Yearly Net Income VS EBIT VS OCF VS FCFCSW-A.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M 40M

1.2 Ratios

Looking at the Return On Assets, with a value of 6.73%, CSW-A belongs to the top of the industry, outperforming 91.67% of the companies in the same industry.
CSW-A's Return On Equity of 14.16% is amongst the best of the industry. CSW-A outperforms 91.67% of its industry peers.
The Return On Invested Capital of CSW-A (9.79%) is better than 91.67% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for CSW-A is above the industry average of 6.60%.
Industry RankSector Rank
ROA 6.73%
ROE 14.16%
ROIC 9.79%
ROA(3y)6.99%
ROA(5y)8.88%
ROE(3y)12.71%
ROE(5y)13.98%
ROIC(3y)10.02%
ROIC(5y)11.65%
CSW-A.CA Yearly ROA, ROE, ROICCSW-A.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

CSW-A has a better Profit Margin (10.78%) than 91.67% of its industry peers.
In the last couple of years the Profit Margin of CSW-A has declined.
CSW-A has a Operating Margin of 18.43%. This is amongst the best in the industry. CSW-A outperforms 91.67% of its industry peers.
In the last couple of years the Operating Margin of CSW-A has declined.
CSW-A's Gross Margin of 50.27% is fine compared to the rest of the industry. CSW-A outperforms 75.00% of its industry peers.
In the last couple of years the Gross Margin of CSW-A has declined.
Industry RankSector Rank
OM 18.43%
PM (TTM) 10.78%
GM 50.27%
OM growth 3Y-9.22%
OM growth 5Y-3.16%
PM growth 3Y-18.38%
PM growth 5Y-9.5%
GM growth 3Y-5.42%
GM growth 5Y-3.55%
CSW-A.CA Yearly Profit, Operating, Gross MarginsCSW-A.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

6

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so CSW-A is still creating some value.
The number of shares outstanding for CSW-A remains at a similar level compared to 1 year ago.
CSW-A has about the same amout of shares outstanding than it did 5 years ago.
The debt/assets ratio for CSW-A is higher compared to a year ago.
CSW-A.CA Yearly Shares OutstandingCSW-A.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M 25M
CSW-A.CA Yearly Total Debt VS Total AssetsCSW-A.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

2.2 Solvency

CSW-A has an Altman-Z score of 3.08. This indicates that CSW-A is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of CSW-A (3.08) is better than 100.00% of its industry peers.
The Debt to FCF ratio of CSW-A is 2.54, which is a good value as it means it would take CSW-A, 2.54 years of fcf income to pay off all of its debts.
CSW-A has a better Debt to FCF ratio (2.54) than 91.67% of its industry peers.
CSW-A has a Debt/Equity ratio of 0.57. This is a neutral value indicating CSW-A is somewhat dependend on debt financing.
CSW-A has a Debt to Equity ratio (0.57) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.57
Debt/FCF 2.54
Altman-Z 3.08
ROIC/WACC1.39
WACC7.03%
CSW-A.CA Yearly LT Debt VS Equity VS FCFCSW-A.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M

2.3 Liquidity

A Current Ratio of 2.72 indicates that CSW-A has no problem at all paying its short term obligations.
With a Current ratio value of 2.72, CSW-A perfoms like the industry average, outperforming 58.33% of the companies in the same industry.
CSW-A has a Quick Ratio of 2.72. This is a bad value and indicates that CSW-A is not financially healthy enough and could expect problems in meeting its short term obligations.
CSW-A has a Quick ratio of 0.93. This is in the better half of the industry: CSW-A outperforms 75.00% of its industry peers.
Industry RankSector Rank
Current Ratio 2.72
Quick Ratio 0.93
CSW-A.CA Yearly Current Assets VS Current LiabilitesCSW-A.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

3

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 25.37% over the past year.
Measured over the past years, CSW-A shows a decrease in Earnings Per Share. The EPS has been decreasing by -1.38% on average per year.
The Revenue has grown by 16.37% in the past year. This is quite good.
Measured over the past years, CSW-A shows a quite strong growth in Revenue. The Revenue has been growing by 8.91% on average per year.
EPS 1Y (TTM)25.37%
EPS 3Y-7.89%
EPS 5Y-1.38%
EPS Q2Q%-6.1%
Revenue 1Y (TTM)16.37%
Revenue growth 3Y12.86%
Revenue growth 5Y8.91%
Sales Q2Q%-0.93%

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
CSW-A.CA Yearly Revenue VS EstimatesCSW-A.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M
CSW-A.CA Yearly EPS VS EstimatesCSW-A.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 0.2 0.4 0.6 0.8 1

4

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 15.62, the valuation of CSW-A can be described as correct.
91.67% of the companies in the same industry are more expensive than CSW-A, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of CSW-A to the average of the S&P500 Index (27.30), we can say CSW-A is valued slightly cheaper.
Industry RankSector Rank
PE 15.62
Fwd PE N/A
CSW-A.CA Price Earnings VS Forward Price EarningsCSW-A.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, CSW-A is valued cheaply inside the industry as 91.67% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of CSW-A indicates a somewhat cheap valuation: CSW-A is cheaper than 75.00% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 9.48
EV/EBITDA 8.34
CSW-A.CA Per share dataCSW-A.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8

4.3 Compensation for Growth

CSW-A has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 6.48%, CSW-A is a good candidate for dividend investing.
CSW-A's Dividend Yield is rather good when compared to the industry average which is at 5.12. CSW-A pays more dividend than 100.00% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.37, CSW-A pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.48%

5.2 History

The dividend of CSW-A decreases each year by -8.62%.
CSW-A has paid a dividend for at least 10 years, which is a reliable track record.
The dividend of CSW-A decreased recently.
Dividend Growth(5Y)-8.62%
Div Incr Years1
Div Non Decr Years1
CSW-A.CA Yearly Dividends per shareCSW-A.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

CSW-A pays out 96.31% of its income as dividend. This is not a sustainable payout ratio.
The Dividend Rate of CSW-A has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP96.31%
EPS Next 2YN/A
EPS Next 3YN/A
CSW-A.CA Yearly Income VS Free CF VS DividendCSW-A.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M 40M
CSW-A.CA Dividend Payout.CSW-A.CA Dividend Payout, showing the Payout Ratio.CSW-A.CA Dividend Payout.PayoutRetained Earnings

CORBY SPIRIT AND WINE LTD

TSX:CSW-A (7/8/2025, 7:00:00 PM)

14.21

+0.14 (+1%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)05-14 2025-05-14
Earnings (Next)08-19 2025-08-19
Inst Owners8.5%
Inst Owner ChangeN/A
Ins Owners0.61%
Ins Owner ChangeN/A
Market Cap404.56M
Analysts40
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.48%
Yearly Dividend0.84
Dividend Growth(5Y)-8.62%
DP96.31%
Div Incr Years1
Div Non Decr Years1
Ex-Date05-28 2025-05-28 (0.23)
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 15.62
Fwd PE N/A
P/S 1.68
P/FCF 9.48
P/OCF 8.78
P/B 2.2
P/tB N/A
EV/EBITDA 8.34
EPS(TTM)0.91
EY6.4%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)1.5
FCFY10.55%
OCF(TTM)1.62
OCFY11.4%
SpS8.48
BVpS6.45
TBVpS-0.57
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 6.73%
ROE 14.16%
ROCE 13.47%
ROIC 9.79%
ROICexc 9.96%
ROICexgc 25.79%
OM 18.43%
PM (TTM) 10.78%
GM 50.27%
FCFM 17.68%
ROA(3y)6.99%
ROA(5y)8.88%
ROE(3y)12.71%
ROE(5y)13.98%
ROIC(3y)10.02%
ROIC(5y)11.65%
ROICexc(3y)14.79%
ROICexc(5y)18.95%
ROICexgc(3y)31.34%
ROICexgc(5y)32.88%
ROCE(3y)13.75%
ROCE(5y)15.98%
ROICexcg growth 3Y-4.32%
ROICexcg growth 5Y1.13%
ROICexc growth 3Y-27.2%
ROICexc growth 5Y-12.41%
OM growth 3Y-9.22%
OM growth 5Y-3.16%
PM growth 3Y-18.38%
PM growth 5Y-9.5%
GM growth 3Y-5.42%
GM growth 5Y-3.55%
F-Score6
Asset Turnover0.62
Health
Industry RankSector Rank
Debt/Equity 0.57
Debt/FCF 2.54
Debt/EBITDA 1.73
Cap/Depr 21.12%
Cap/Sales 1.42%
Interest Coverage 250
Cash Conversion 75.93%
Profit Quality 164.03%
Current Ratio 2.72
Quick Ratio 0.93
Altman-Z 3.08
F-Score6
WACC7.03%
ROIC/WACC1.39
Cap/Depr(3y)157.31%
Cap/Depr(5y)106.06%
Cap/Sales(3y)13.92%
Cap/Sales(5y)9.18%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)25.37%
EPS 3Y-7.89%
EPS 5Y-1.38%
EPS Q2Q%-6.1%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)16.37%
Revenue growth 3Y12.86%
Revenue growth 5Y8.91%
Sales Q2Q%-0.93%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y10.21%
EBIT growth 3Y2.45%
EBIT growth 5Y5.46%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y63.79%
FCF growth 3Y-9.08%
FCF growth 5Y-0.36%
OCF growth 1Y47.07%
OCF growth 3Y-8.22%
OCF growth 5Y-1.51%