Review of Winpak Ltd.

JUL 17, 2025 - The company has room for improvement in terms of volume, as the company experienced two consecutive years of slight negative growth. The company possesses a healthy track record of growing dividends consistently over the last ten years, with occasional large special dividends. WPK’s management also accelerated the company’s share repurchase activity most in recent years, which indicates management believes share prices are trading at attractive levels. WPK has maintained a very strong balance sheet with essentially no debt and funds for capital expenditures through internally generated cash flows. Tariffs could be a near-term headwind for WPK’s business, and the uncertainty is still quite high regarding the magnitude of how it may affect WPK’s volume. We think WPK is a stable company which currently trades at an attractive valuation compared to historical averages, but its growth trajectory may not be quite too appealing. We are maintaining our rating of a ‘B.’

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Winpak Ltd. (WPK $42.34)
- $42.34 P/E (TTM): 13.54X Cap: $2.60B
- View WPK Profile
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Q: Winpak has sold off sharply despite what looks to be reassurance that the back have of 2025 will start to show growth again (as they come out of a large capex cycle). Opportunity, or value trap?

Read Answer Asked by Michael on July 29, 2025

Winpak Ltd. (WPK $42.34)
- $42.34 P/E (TTM): 13.54X Cap: $2.60B
- View WPK Profile
- View Questions on WPK
- View Reports on WPK

Q: Antti Aarnio-Wihuri is now 85 years old. He is the primary owner of the Wihuri group, which in turn is the major shareholder (~50% IIRC?) of Winpak. Your recent report on Winpak is great, but doesn't contemplate the eventual transition of Wihuri's leadership and what that might mean for WPK. Potential for Wihuri to buy the WPK that it does not already own?

Read Answer Asked by Michael on July 22, 2025

Winpak Ltd. (WPK $42.34)
- $42.34 P/E (TTM): 13.54X Cap: $2.60B
- View WPK Profile
- View Questions on WPK
- View Reports on WPK

Q: Winpak has been a slow growth company for many years (10 year revenue cagr 5.8%), but last year had a jump in revenue of 17.9%. They have several expansion projects underway. Do you think last year was an outlier, or with their expansion plans, is there some potential they can sustain this growth rate? What does the market expect?

Read Answer Asked by Adam on September 06, 2023