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Global specialty label and packaging manufacturer, also owner of the Avery consumer labelling brand in North America.
Global specialty label and packaging manufacturer, also owner of the Avery consumer labelling brand in North America.
Class B shares carry no votes but are the widely traded class; the votes sit with the Class A shares controlled by the Lang family. The company sells labels, packaging and retail security tags to brand owners, with the Label segment the largest and acquisitions a steady part of growth.
In one line: Canada's Avery Dennison (labels/packaging).
Moat: narrow (scale, brand, distribution). Global label manufacturing scale plus the well-known Avery consumer brand and retail loss-prevention technology.
Headquarters: Toronto, Canada · Founded: 1951 · Employees: 16,400
Size CCL Industries (CCL-B.TO) is a Canada Materials company (Containers/Packaging) with a market value of $11.8B, the 70th largest of 420 Canada companies the cockpit tracks. Shares closed at C$99.25 on 6 Nov 2026.
Performance Over six months the shares gained 16.8%, against +5.7% for the median peer and +5.2% for the Canada market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue grew 5.4% over the last twelve months (peer median +4.0%); the operating margin is 15.0% (peer median 9.1%).
Valuation It trades at 18.7× forward earnings against a peer median of 18.4× (9th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.5 points above its cost of capital (6.3% WACC).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$7.89B | C$7.66B | C$7.25B | C$6.65B | C$6.38B |
| Revenue growth | — | +6% | +9% | +4% | — |
| Gross profit | C$2.35B | C$2.30B | C$2.14B | C$1.91B | C$1.72B |
| EBITDA | C$1.66B | C$1.62B | C$1.50B | C$1.33B | C$1.23B |
| Net income | C$811M | C$802M | C$843M | C$530M | C$623M |
| Free cash flow | C$825M | C$863M | C$602M | C$542M | C$546M |
| Capital expenditure | C$430M | C$441M | C$462M | C$462M | C$447M |
| Total debt | C$2.72B | C$2.26B | C$2.45B | C$2.28B | C$2.36B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| CCL Industries CCL-B.TO | $11.8B | +17% | +5% | 15% | 18.7× | 1.3% |
| Avery Dennison AVY | $14.1B | +14% | +7% | 13% | 17.4× | 1.9% |
| Brady BRC | $3.69B | 0% | +10% | 16% | 12.0× | 1.0% |
| Sato 6287.T | $508M | +19% | +10% | 7% | 9.9× | -11.3% |
| Nedap NEDAP.AS | $691M | +6% | +13% | 12% | 19.8× | -3.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CCL-B.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.4% | +5.3% | 10th highest of 21 |
| 6-month return | +16.8% | +5.7% | 6th highest of 21 |
| Distance from 52-week high | -3.6% | -17.0% | highest of 21 |
| Revenue growth (TTM) | +5.4% | +4.0% | 9th highest of 21 |
| Operating margin | 15.0% | 9.1% | 3rd highest of 21 |
| Forward P/E | 18.7× | 18.4× | 9th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 1.3% | 5.1% | 7th least demanding of 19 |
| Growth delivered (Del g) | +7.9% | +7.0% | 8th highest of 19 |
| Hurdle (Req g minus delivered) | -6.6 pp | -5.4 pp | 10th least demanding of 19 |
| ROIC minus cost of capital | +5.5 pp | +1.1 pp | 4th highest of 21 |
| EV / EBITDA | 11.0× | 8.9× | 4th most expensive of 16 |
| Net debt / EBITDA | 1.1× | 3.0× | 3rd least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| CCL Industries CCL-B.TO | Canada | $11.8B | +17% | +5% | 15% | 18.7× | 1.3% | +7.9% |
| Crown CCK | United States | $13.1B | +20% | +14% | 12% | 13.9× | -4.7% | +5.7% |
| Owens Corning OC | United States | $9.59B | 0% | -11% | 14% | 15.3× | 3.6% | +7.4% |
| AptarGroup ATR | United States | $9.03B | +18% | +9% | 12% | 23.4× | 4.3% | +5.2% |
| Stora Enso STEAV.HE | Finland | $8.58B | 0% | -1% | -4% | 18.4× | n/a | n/a |
| Ball BALL | United States | $17.2B | +13% | +21% | 11% | 15.3× | 6.4% | +2.3% |
| Yunnan Energy New Material (Group) 002812.SZ | China | $7.55B | -38% | +50% | 17% | 19.8× | 7.8% | +26.1% |
| SIG SIGN.SW | Switzerland | $7.07B | +23% | -5% | 5% | 20.5× | 18.4% | +9.4% |
| Amcor AMCR | United States | $20.7B | +14% | +57% | 9% | n/a | 5.8% | +12.8% |
| Packaging Corporation of America PKG | United States | $22.2B | +12% | +12% | 13% | 17.8× | 4.3% | +6.2% |
| China International Marine Containers (Group) 000039.SZ | China | $6.19B | -23% | 0% | 4% | 18.7× | -9.2% | +10.7% |
| Smurfit Westrock SW | United States | $23.1B | +7% | +1% | 5% | 15.1× | 13.5% | +26.2% |
| Jiangsu Sidike New Materials Science & Technology 300806.SZ | China | $5.33B | -17% | +12% | 4% | 154.7× | n/a | n/a |
| Shenzhen YUTO Packaging Technology 002831.SZ | China | $5.19B | 0% | +1% | 11% | 20.8× | -0.4% | +7.9% |
| Sonoco Products SON | United States | $4.99B | -2% | +4% | 10% | 9.0× | -1.9% | +7.5% |
| Mondi MNDI.L | United Kingdom | $4.69B | +5% | +5% | 4% | 36.1× | 15.4% | +2.1% |
| Silgan SLGN | United States | $4.34B | +2% | +4% | 10% | 10.2× | -5.8% | +5.7% |
| Oji 3861.T | Japan | $4.31B | -3% | 0% | 2% | 20.6× | 20.4% | +6.5% |
| Greif GEF | United States | $3.95B | +7% | -2% | 8% | 16.1× | 7.9% | -4.7% |
| Toyo Seikan 5901.T | Japan | $3.69B | +34% | +6% | 6% | 20.4× | -2.7% | +5.2% |
| Vidrala VID.MC | Spain | $3.63B | +18% | -3% | 21% | 14.6× | 5.8% | +8.2% |