# Philip Morris CDR (CAD Hedged) (ZYNS.TO) fundamentals

Data as of 2026-11-04. TSX, Canada. Sector: Consumer Defensive / Tobacco. Price C$28.58, market value C$446.8 billion.

## Valuation
- **P/E (trailing): 30.7×** (5-yr avg 30.4×, 3-yr avg 30.4×). Philip Morris CDR (CAD Hedged) trades at 30.7× trailing earnings, close to its own five-year average of 30.4×. The Consumer Defensive median in the September 2026 study was 20.1×.
- **Price / sales: 10.4×**. Each dollar of revenue is priced at 10.4×, a level that requires very high margins or very fast growth to justify.
- **EV / EBITDA: 25.5×**. Enterprise value is 25.5× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 3.0%** (5-yr avg 3.1%). Free cash flow equals 3.0% of the market value, in line with its five-year average of 3.1%.
- **Earnings yield: 3.3%**. The inverse of the P/E: 3.3% of the price is earned each year.

## Profitability
- **Gross margin: 67.7%**. Philip Morris CDR (CAD Hedged) keeps 67.7% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 38.6%**. 38.6% of revenue is left after running the business, an exceptional level.
- **Net margin: 27.9%**. 27.9% of each dollar of sales reaches the bottom line.
- **Return on equity: -113.5%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 38.8%**. Return on all capital, debt included, is 38.8%: comfortably above what that capital costs.
- **Return on assets: 15.5%**. Each dollar of assets produces 15.5% of profit.

## Growth
- **Revenue growth (1 yr): 7.3%** (3-yr 8.6%/yr). Revenue grew 7.3% over the last year.
- **EPS growth (1 yr): 60.3%** (3-yr 7.7%/yr). Earnings per share rose 60.3%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 3.1%/yr**. Free cash flow has compounded at 3.1% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Net debt / EBITDA: 2.3×**. It would take 2.3 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 11.0×**. Operating profit covers interest 11.0× over, a safe margin.
- **Current ratio: 0.96** (quick 0.51). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 4.56**. A Z-score of 4.56 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend: none**. Philip Morris CDR (CAD Hedged) does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): 44.6%** (YTD 30.0%, 3-mo 9.2%). The shares are up 44.6% over twelve months including dividends.
- **From 52-week high: -0.3%** (41.1% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 69**. An RSI of 69 is neutral.
- **Beta (1 yr): 0.10** (volatility 29%). Beta of 0.10 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=ZYNS.TO · Page: https://foliofundamentals.com/stocks/zyns.to

Not investment advice.