Cash flow Yellow Pages Limited

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Y

CA9855721069

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Market Closed - Toronto S.E. Other stock markets 03:08:04 2025-07-15 pm EDT			5-day change	1st Jan Change
11.10 ^CAD	-1.33%		-1.77%	-6.33%

May. 21	Yellow Pages Limited Purchases Group Annuity Contracts De-Risking Its Defined Benefit Pension Plan	RE
May. 21	Yellow Pages to Buy Annuity Contracts in Bid to Bolster Defined Benefit Pension Plan	DJ

4e36b6c0a.qFLa5lA1eo0BG8UtOnpy5Bfgil4XFh5FqKFLkkjnNJQ.5SLuuTZFMfhFTJZveTUh0XCpw2hzYiwU7_sf4yOjQ__yALSAGWo1-U4qqg

Published financial data: YELLOW PAGES LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	334M	288M	268M	239M	215M
Total Revenues	334M	288M	268M	239M	215M
Cost of Goods Sold, Total	204M	186M	172M	163M	164M
Gross Profit	129M	102M	96.57M	76.86M	50.84M
Selling General & Admin Expenses, Total	3.8M	3.25M	2.32M	1.95M	1.48M
Depreciation & Amortization - (IS)	27.66M	19.64M	15.4M	13.66M	13.44M
Other Operating Expenses	-1.17M	-156K	231K	169K	96K
Other Operating Expenses, Total	30.3M	22.73M	17.95M	15.78M	15.01M
Operating Income	99.14M	79.27M	78.62M	61.08M	35.83M
Interest Expense, Total	-13.49M	-6.82M	-1.38M	-1.22M	-1.01M
Interest And Investment Income	-	-	2.06M	2.86M	1.52M
Net Interest Expenses	-13.49M	-6.82M	685K	1.64M	514K
Income (Loss) On Equity Invest.	-	-	-	-	-
Other Non Operating Income (Expenses)	2.78M	729K	-168K	-426K	16K
EBT, Excl. Unusual Items	88.44M	73.18M	79.13M	62.3M	36.36M
Restructuring Charges	-4.7M	-5.5M	-1.6M	-1.54M	-1.93M
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-423K	-	-	-	-
Asset Writedown	-4.6M	-	-1.4M	-500K	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-7.76M	-	-	-
EBT, Incl. Unusual Items	78.71M	59.91M	76.13M	60.26M	34.43M
Income Tax Expense	18.41M	-10.72M	2.7M	12.86M	9.45M
Earnings From Continuing Operations	60.3M	70.64M	73.43M	47.4M	24.98M
Net Income to Company	60.3M	70.64M	73.43M	47.4M	24.98M
Net Income - (IS)	60.3M	70.64M	73.43M	47.4M	24.98M
Net Income to Common Incl Extra Items	60.3M	70.64M	73.43M	47.4M	24.98M
Net Income to Common Excl. Extra Items	60.3M	70.64M	73.43M	47.4M	24.98M
Per Share Items
Net EPS - Basic	2.27	2.68	3.1	2.7	1.84
Basic EPS - Continuing Operations	2.27	2.68	3.1	2.7	1.84
Basic Weighted Average Shares Outstanding	26.6M	26.34M	23.67M	17.57M	13.56M
Net EPS - Diluted	2.1	2.64	3.02	2.65	1.82
Diluted EPS - Continuing Operations	2.1	2.64	3.02	2.65	1.82
Diluted Weighted Average Shares Outstanding	32.56M	26.72M	23.94M	17.77M	13.75M
Normalized Basic EPS	2.08	1.74	2.09	2.22	1.68
Normalized Diluted EPS	1.7	1.71	2.07	2.19	1.65
Dividend Per Share	0.44	0.6	0.6	0.85	1
Payout Ratio	14.61	20.85	19.29	28.13	54.29
Supplemental Items
EBITDA	109M	88.55M	87.01M	69.49M	44.17M
EBITA	107M	87.12M	86.47M	68.93M	43.68M
EBIT	99.14M	79.27M	78.62M	61.08M	35.83M
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	23.39	-17.89	3.55	21.35	27.45
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	90K	7.32M	2.75M	2.27M	339K
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	18.32M	-18.04M	-54K	10.6M	9.11M
Normalized Net Income	55.27M	45.74M	49.46M	38.94M	22.72M
Distributable Cash	-	-	-	-	-
Interest on Long-Term Debt	15.37M	8.7M	3.2M	2.99M	2.68M
Non-Cash Pension Expense	3.44M	2.85M	1.96M	1.64M	1.05M
Supplemental Operating Expense Items
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., COGS (Total)	8.8M	9.9M	3.59M	-419K	3.74M
Stock-Based Comp., Other (Total)	-8.88M	-	-	-	-
Total Stock-Based Compensation	-75K	9.9M	3.59M	-419K	3.74M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	153M	124M	43.91M	23.23M	44.2M
Total Cash And Short Term Investments	153M	124M	43.91M	23.23M	44.2M
Accounts Receivable, Total	59.01M	40.18M	38.89M	38.33M	35.76M
Other Receivables	2.23M	469K	1.22M	1.46M	1.17M
Notes Receivable	4.4M	3.1M	-	-	-
Total Receivables	65.64M	43.75M	40.12M	39.79M	36.92M
Prepaid Expenses	4.83M	4.14M	4.9M	4.86M	4.56M
Restricted Cash	-	-	-	-	-
Other Current Assets, Total	2.12M	1.94M	580K	1.05M	1.22M
Total Current Assets	226M	173M	89.51M	68.93M	86.91M
Gross Property Plant And Equipment	69.13M	122M	119M	46.11M	44.86M
Accumulated Depreciation	-51.44M	-107M	-108M	-37.54M	-37.44M
Net Property Plant And Equipment	17.69M	15M	11.25M	8.57M	7.42M
Long-term Investments	-	-	-	-	-
Goodwill	-	-	-	-	-
Other Intangibles, Total	70.7M	58.75M	49.66M	40.92M	31.2M
Accounts Receivable Long-Term	25.61M	25.19M	24.76M	23.97M	21.76M
Deferred Tax Assets Long-Term	21.92M	29.27M	28.13M	20.82M	11.79M
Deferred Charges Long-Term	1.92M	1.96M	2.15M	2.48M	2.98M
Other Long-Term Assets, Total	4.01M	1.67M	1.84M	1.83M	1.82M
Total Assets	368M	305M	207M	168M	164M
Liabilities
Accounts Payable, Total	18.73M	19.13M	16.81M	15.85M	16.64M
Accrued Expenses, Total	17.98M	16.54M	17.69M	12.87M	7.89M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	3.01M	2.94M	3.4M	3.97M	3.78M
Current Income Taxes Payable	-	5.3M	298K	213K	-
Unearned Revenue Current, Total	1.5M	1.62M	1.27M	956K	800K
Other Current Liabilities	20.43M	20.35M	16.56M	15.72M	15.56M
Total Current Liabilities	61.64M	65.89M	56.01M	49.58M	44.67M
Long-Term Debt	101M	-	-	-	-
Long-Term Leases	49.86M	46.94M	43.73M	39.95M	36.16M
Pension & Other Post Retirement Benefits	125M	75.22M	40.94M	35.18M	28.75M
Deferred Tax Liability Non Current	-	-	-	-	-
Other Non Current Liabilities	986K	1.05M	826K	551K	488K
Total Liabilities	339M	189M	142M	125M	110M
Common Stock, Total	3.99B	3.94B	129M	95.09M	95.09M
Retained Earnings	-6.53B	-6.38B	-55.29M	-54M	-42.5M
Comprehensive Income and Other	2.56B	2.56B	-7.93M	1.16M	1.22M
Total Common Equity	29.3M	116M	65.78M	42.26M	53.8M
Total Equity	29.3M	116M	65.78M	42.26M	53.8M
Total Liabilities And Equity	368M	305M	207M	168M	164M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	27.79M	27.44M	18.66M	13.75M	13.75M
ECS Total Common Shares Outstanding	27.83M	27.46M	18.66M	13.75M	13.75M
Book Value / Share	1.05	4.23	3.53	3.07	3.91
Tangible Book Value	-41.4M	57.38M	16.12M	1.34M	22.6M
Tangible Book Value Per Share	-1.49	2.09	0.86	0.1	1.64
Total Debt	154M	49.88M	47.13M	43.91M	39.94M
Net Debt	497K	-73.68M	3.22M	20.68M	-4.27M
Debt Equivalent of Unfunded Proj. Benefit Obligation	90.31M	45.68M	18.82M	12.76M	4.88M
Debt Equivalent Oper. Leases	-	-	-	-	-
Equity Method Investments, Total	-	-	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	47.36M	44.64M	44.72M	21.18M	21.15M
Full Time Employees	-	-	-	627	565
Accumulated Allowance for Doubtful Accounts (Supple)	18.29M	13.89M	6.79M	5.85M	5.34M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	60.3M	70.64M	73.43M	47.4M	24.98M
Depreciation & Amortization - CF	3.28M	2.52M	1.53M	1.51M	1.3M
Amortization of Goodwill and Intangible Assets - (CF)	7.85M	7.85M	7.85M	7.85M	7.85M
Depreciation & Amortization, Total	11.14M	10.37M	9.38M	9.36M	9.15M
Amortization of Deferred Charges, Total - (CF)	16.59M	9.26M	6.01M	4.3M	4.29M
(Gain) Loss From Sale Of Asset	423K	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	-738K	-487K	-1.72M	-205K	-9K
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Stock-Based Compensation (CF)	-75K	920K	1.15M	423K	216K
Other Operating Activities, Total	17.82M	-7.87M	-43.49M	-17.16M	-2.92M
Change in Other Net Operating Assets	21.54M	21.74M	4.73M	2.65M	3.33M
Cash from Operations	127M	105M	49.5M	46.77M	39.02M
Capital Expenditure	-245K	-117K	-93K	-35K	-78K
Cash Acquisitions	-	-	-	-	-
Divestitures	1.56M	-	-	-	-
Sale (Purchase) of Intangible assets	-5.33M	-4.96M	-4.91M	-3.92M	-2.4M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	1M	593K	1.34M	1.46M	1.97M
Cash from Investing	-3.01M	-4.48M	-3.67M	-2.5M	-513K
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-3.04M	-110M	-2.95M	-3.41M	-3.98M
Total Debt Repaid	-3.04M	-110M	-2.95M	-3.41M	-3.98M
Issuance of Common Stock	223K	111K	153K	-	-
Repurchase of Common Stock	-3.28M	-5.33M	-109M	-48.2M	-
Common Dividends Paid	-8.81M	-14.73M	-14.16M	-13.33M	-13.56M
Common & Preferred Stock Dividends Paid	-8.81M	-14.73M	-14.16M	-13.33M	-13.56M
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-14.91M	-130M	-125M	-64.94M	-17.54M
Net Change in Cash	109M	-29.93M	-79.65M	-20.68M	20.98M
Supplemental Items
Cash Interest Paid	10.76M	6.57M	2.11M	1.96M	1.76M
Cash Income Tax Paid (Refund)	-260K	-	7.76M	2.95M	694K
Levered Free Cash Flow	95.27M	96.8M	56.16M	39.59M	34.73M
Unlevered Free Cash Flow	104M	101M	57.02M	40.35M	35.36M
Change In Net Working Capital	-19.65M	-27.06M	6.1M	7.1M	1.73M
Net Debt Issued / Repaid	-3.04M	-110M	-2.95M	-3.41M	-3.98M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	17.84	14.75	19.17	20.37	13.51
Return on Total Capital	38.36	28.37	35.23	38.35	24.89
Return On Equity %	954.01	97.14	80.73	87.75	52
Return on Common Equity	954.01	97.14	80.73	87.75	52
Margin Analysis
Gross Profit Margin %	38.81	35.46	36	32.1	23.66
SG&A Margin	1.14	1.13	0.87	0.81	0.69
EBITDA Margin %	32.69	30.78	32.43	29.02	20.56
EBITA Margin %	32.08	30.29	32.23	28.79	20.33
EBIT Margin %	29.72	27.56	29.3	25.51	16.68
Income From Continuing Operations Margin %	18.08	24.56	27.37	19.8	11.63
Net Income Margin %	18.08	24.56	27.37	19.8	11.63
Net Avail. For Common Margin %	18.08	24.56	27.37	19.8	11.63
Normalized Net Income Margin	16.57	15.9	18.44	16.26	10.58
Levered Free Cash Flow Margin	28.56	33.65	20.93	16.53	16.17
Unlevered Free Cash Flow Margin	31.07	35.14	21.25	16.85	16.46
Asset Turnover
Asset Turnover	0.96	0.86	1.05	1.28	1.3
Fixed Assets Turnover	15.14	17.6	20.44	24.16	26.88
Receivables Turnover (Average Receivables)	4.82	5.8	6.79	6.2	5.8
Short Term Liquidity
Current Ratio	3.67	2.63	1.6	1.39	1.95
Quick Ratio	3.48	2.49	1.5	1.27	1.82
Operating Cash Flow to Current Liabilities	2.06	1.59	0.88	0.94	0.87
Days Sales Outstanding (Average Receivables)	76	62.93	53.79	58.86	63.11
Average Days Payable Outstanding	33.43	37.21	38.2	36.66	36.26
Long Term Solvency
Total Debt/Equity	525.54	42.95	71.65	103.92	74.23
Total Debt / Total Capital	84.01	30.05	41.74	50.96	42.61
LT Debt/Equity	515.27	40.42	66.48	94.54	67.21
Long-Term Debt / Total Capital	82.37	28.27	38.73	46.36	38.58
Total Liabilities / Total Assets	92.04	61.95	68.27	74.77	67.17
EBIT / Interest Expense	7.35	11.62	57.01	49.99	35.62
EBITDA / Interest Expense	8.18	13.14	63.81	57.65	44.71
(EBITDA - Capex) / Interest Expense	8.16	13.12	63.75	57.62	44.63
Total Debt / EBITDA	1.4	0.56	0.54	0.62	0.89
Net Debt / EBITDA	0	-0.82	0.04	0.29	-0.09
Total Debt / (EBITDA - Capex)	1.4	0.56	0.54	0.62	0.89
Net Debt / (EBITDA - Capex)	0	-0.82	0.04	0.29	-0.1
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-17.28	-13.76	-6.73	-10.75	-10.28
Gross Profit, 1 Yr. Growth %	-19.77	-21.2	-5.33	-19.49	-33.86
EBITDA, 1 Yr. Growth %	-16.15	-18.78	-1.74	-19.02	-36.44
EBITA, 1 Yr. Growth %	-15.59	-18.57	-0.75	-19.16	-36.63
EBIT, 1 Yr. Growth %	-16.64	-20.04	-0.83	-21.1	-41.34
Earnings From Cont. Operations, 1 Yr. Growth %	-36.31	17.14	3.96	-35.45	-47.3
Net Income, 1 Yr. Growth %	-36.31	17.14	3.96	-35.45	-47.3
Normalized Net Income, 1 Yr. Growth %	3.52	-17.25	8.14	-20.06	-41.64
Diluted EPS Before Extra, 1 Yr. Growth %	-33.31	25.43	14.56	-12.46	-31.25
Accounts Receivable, 1 Yr. Growth %	-25.78	-31.9	-3.22	-1.44	-6.72
Net Property, Plant and Equip., 1 Yr. Growth %	-32.91	-15.2	-24.98	-23.87	-13.42
Total Assets, 1 Yr. Growth %	12.55	-16.69	-32.08	-19.19	-2.17
Tangible Book Value, 1 Yr. Growth %	-61.09	-238.61	-71.91	-91.7	1.59K
Common Equity, 1 Yr. Growth %	-275.88	296.34	-43.36	-35.76	27.32
Cash From Operations, 1 Yr. Growth %	-12.27	-17.65	-52.67	-5.52	-16.56
Capital Expenditures, 1 Yr. Growth %	169.23	-52.24	-20.51	-62.37	122.86
Levered Free Cash Flow, 1 Yr. Growth %	-15.84	-6.99	-42.31	-27.28	-12.26
Unlevered Free Cash Flow, 1 Yr. Growth %	-19.27	-10.17	-43.89	-27.03	-12.37
Dividend Per Share, 1 Yr. Growth %	-	36.36	0	41.67	17.65
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-23.98	-15.54	-10.32	-8.76	-10.51
Gross Profit, 2 Yr. CAGR %	-18.01	-20.49	-13.63	-13.19	-27.03
EBITDA, 2 Yr. CAGR %	-8.31	-17.48	-10.67	-11.41	-28.26
EBITA, 2 Yr. CAGR %	-5.7	-17.09	-10.1	-11.05	-28.43
EBIT, 2 Yr. CAGR %	-5.7	-18.36	-10.95	-12.22	-31.97
Earnings From Cont. Operations, 2 Yr. CAGR %	-14.67	-13.62	10.35	-18.08	-41.68
Net Income, 2 Yr. CAGR %	-14.67	-13.62	10.35	-18.08	-41.68
Normalized Net Income, 2 Yr. CAGR %	19.68	-7.45	-5.41	-7.73	-31.7
Diluted EPS Before Extra, 2 Yr. CAGR %	-12.93	-8.54	19.87	0.14	-22.43
Accounts Receivable, 2 Yr. CAGR %	-29.45	-28.91	-18.82	-2.33	-4.12
Net Property, Plant and Equip., 2 Yr. CAGR %	-46.63	-24.58	-20.24	-24.42	-18.81
Total Assets, 2 Yr. CAGR %	-8.8	-3.37	-24.78	-25.92	-11.09
Tangible Book Value, 2 Yr. CAGR %	-58.14	-26.56	-37.6	-84.73	18.42
Common Equity, 2 Yr. CAGR %	-50.41	164.02	49.83	-39.68	-9.56
Cash From Operations, 2 Yr. CAGR %	-2.89	-15	-37.57	-33.13	-11.21
Capital Expenditures, 2 Yr. CAGR %	-64.08	13.39	-38.39	-45.31	-8.42
Levered Free Cash Flow, 2 Yr. CAGR %	-6.32	-7.52	-26.54	-36.23	-20.12
Unlevered Free Cash Flow, 2 Yr. CAGR %	-13.55	-11.27	-28.81	-36.98	-20.04
Dividend Per Share, 2 Yr. CAGR %	-	-	16.77	19.02	29.1
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-22.91	-20.72	-12.7	-10.46	-9.27
Gross Profit, 3 Yr. CAGR %	-10.92	-19.09	-15.73	-15.95	-20.72
EBITDA, 3 Yr. CAGR %	2.57	-11.94	-12.53	-13.94	-20.69
EBITA, 3 Yr. CAGR %	5.96	-10.2	-11.97	-13.63	-20.56
EBIT, 3 Yr. CAGR %	15.42	-10.74	-12.89	-14.91	-23.26
Earnings From Cont. Operations, 3 Yr. CAGR %	-53.36	-5.16	-8.12	-7.71	-29.29
Net Income, 3 Yr. CAGR %	-53.36	-5.16	-8.12	-7.71	-29.29
Normalized Net Income, 3 Yr. CAGR %	84.44	5.83	-2.52	-11.02	-20.8
Diluted EPS Before Extra, 3 Yr. CAGR %	-54.62	-1.67	-1.41	7.95	-11.66
Accounts Receivable, 3 Yr. CAGR %	-29.95	-30.28	-21.21	-13.4	-3.82
Net Property, Plant and Equip., 3 Yr. CAGR %	-44.16	-37.72	-24.71	-21.47	-20.92
Total Assets, 3 Yr. CAGR %	-15.12	-11.64	-14.08	-22.96	-18.72
Tangible Book Value, 3 Yr. CAGR %	-53.81	-37.61	-46.69	-68.15	-26.7
Common Equity, 3 Yr. CAGR %	-47.27	-0.86	58.06	12.98	-22.62
Cash From Operations, 3 Yr. CAGR %	2.9	-8.08	-30.07	-28.32	-28.01
Capital Expenditures, 3 Yr. CAGR %	-79.95	-60.5	0.73	-47.72	-12.64
Levered Free Cash Flow, 3 Yr. CAGR %	46.36	-3.75	-20.84	-27.55	-29.07
Unlevered Free Cash Flow, 3 Yr. CAGR %	20.03	-10.01	-23.7	-28.95	-29.66
Dividend Per Share, 3 Yr. CAGR %	-	-	-	24.54	18.56
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-16.66	-18.86	-18.1	-16.14	-11.83
Gross Profit, 5 Yr. CAGR %	-14.37	-16.92	-12.01	-16.78	-20.63
EBITDA, 5 Yr. CAGR %	-12.1	-11.33	-2.95	-11.73	-19.42
EBITA, 5 Yr. CAGR %	-11.37	-10.16	-0.79	-10.54	-19.19
EBIT, 5 Yr. CAGR %	-10.36	-8.45	4.05	-11.34	-21.33
Earnings From Cont. Operations, 5 Yr. CAGR %	-0.25	-29.43	-34.18	-10.56	-23.39
Net Income, 5 Yr. CAGR %	-0.25	-29.43	-34.18	-10.56	-23.39
Normalized Net Income, 5 Yr. CAGR %	-5.75	-0.15	41.21	0.18	-15.71
Diluted EPS Before Extra, 5 Yr. CAGR %	0.57	-29.57	-33.07	-0.95	-10.43
Accounts Receivable, 5 Yr. CAGR %	-9.43	-17.06	-25.7	-20.21	-14.77
Net Property, Plant and Equip., 5 Yr. CAGR %	-10.35	-16.15	-35.6	-32.71	-22.4
Total Assets, 5 Yr. CAGR %	-26.46	-22.62	-19.19	-17.65	-12.9
Tangible Book Value, 5 Yr. CAGR %	-42.12	-32.76	-47.9	-64.47	-26.64
Common Equity, 5 Yr. CAGR %	-47.85	-20.64	-19.93	-18.73	26.42
Cash From Operations, 5 Yr. CAGR %	-8.46	-7.93	-15.74	-19.06	-23.06
Capital Expenditures, 5 Yr. CAGR %	-47.65	-60.85	-68.59	-55.01	-3.04
Levered Free Cash Flow, 5 Yr. CAGR %	-6.81	0.43	13.07	-18.27	-21.04
Unlevered Free Cash Flow, 5 Yr. CAGR %	-9.29	-3.71	-0.99	-21.88	-22.73