Cash flow GreenFirst Forest Products Inc.

Stocks

GFP

CA39526C1068

Forest & Wood Products

Market Closed - Toronto S.E. 15:40:37 2026-08-12 EDT			5-day change	1st Jan Change
1.810 ^CAD	-6.70%		-4.74%	+0.56%

08-11	GreenFirst Forest Products Inc. Announces Resignation of Joel Fournier as CEO, Effective October 31, 2026	CI
08-11	GreenFirst Forest Products Inc., Q2 2026 Earnings Call, Aug 11, 2026

cfe9690a59ebd.DOO0ROvAKrvV2AgzoGC-eT6tOL41gBYXJcK7kz2vqEM.RtXHLIajZ8q4lWxS7wXuSGn0evV91m95a7Xip03n8BJnrcEOs5Ri14DgWQ

Published financial data: GREENFIRST FOREST PRODUCTS INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	190M	492M	410M	283M	304M
Total Revenues	190M	492M	410M	283M	304M
Cost of Goods Sold, Total	162M	403M	422M	276M	300M
Gross Profit	28.25M	88.92M	-12.45M	7.15M	3.56M
Selling General & Admin Expenses, Total	8.43M	23.5M	20.58M	11.54M	15.54M
Other Operating Expenses	14.71M	40.89M	14.14M	-4.59M	72.3M
Other Operating Expenses, Total	23.14M	64.4M	34.72M	6.96M	87.84M
Operating Income	5.1M	24.53M	-47.16M	195K	-84.28M
Interest Expense, Total	-5.85M	-13.33M	-3M	-4.18M	-8.98M
Interest And Investment Income	22K	661K	1.15M	4.14M	1.04M
Net Interest Expenses	-5.83M	-12.67M	-1.85M	-31K	-7.95M
Currency Exchange Gains (Loss)	-	-7.9M	-	-	-
Other Non Operating Income (Expenses)	-1.05M	-6.2M	-692K	-1.82M	-1.46M
EBT, Excl. Unusual Items	-1.77M	-2.23M	-49.7M	-1.65M	-93.69M
Merger & Related Restructuring Charges	-9.88M	-	-	-	-
Gain (Loss) On Sale Of Investments	-	643K	286K	-	-
Gain (Loss) On Sale Of Assets	-	8M	-971K	-15.52M	76K
Asset Writedown	-	-	-	-	-9M
Other Unusual Items	-	-11.19M	-	-	-
EBT, Incl. Unusual Items	-11.65M	-4.78M	-50.39M	-17.18M	-103M
Income Tax Expense	-2.03M	-643K	-1.59M	4.45M	-3.77M
Earnings From Continuing Operations	-9.62M	-4.13M	-48.8M	-21.63M	-98.84M
Earnings Of Discontinued Operations	-	3.22M	1.78M	-25.44M	-
Net Income to Company	-9.62M	-910K	-47.02M	-47.07M	-98.84M
Net Income - (IS)	-9.62M	-910K	-47.02M	-47.07M	-98.84M
Net Income to Common Incl Extra Items	-9.62M	-910K	-47.02M	-47.07M	-98.84M
Net Income to Common Excl. Extra Items	-9.62M	-4.13M	-48.8M	-21.63M	-98.84M
Per Share Items
Net EPS - Basic	-1.22	-0.05	-2.65	-2.61	-4.35
Basic EPS - Continuing Operations	-1.22	-0.23	-2.75	-1.2	-4.35
Basic Weighted Average Shares Outstanding	7.87M	17.76M	17.76M	18.01M	22.71M
Net EPS - Diluted	-1.22	-0.05	-2.65	-2.61	-4.35
Diluted EPS - Continuing Operations	-1.22	-0.23	-2.75	-1.2	-4.35
Diluted Weighted Average Shares Outstanding	7.87M	17.76M	17.76M	18.01M	22.71M
Normalized Basic EPS	-0.14	-0.08	-1.75	-0.06	-2.58
Normalized Diluted EPS	-0.14	-0.08	-1.75	-0.06	-2.58
Supplemental Items
EBITDA	12.13M	43.38M	-30.98M	15.83M	-70.75M
EBITA	5.2M	24.82M	-46.87M	490K	-83.98M
EBIT	5.1M	24.53M	-47.16M	195K	-84.28M
Effective Tax Rate - (Ratio)	17.43	13.47	3.15	-25.93	3.67
Total Current Taxes	-	-	606K	-	-
Total Deferred Taxes	-2.03M	-643K	-2.19M	4.45M	-3.77M
Normalized Net Income	-1.11M	-1.4M	-31.06M	-1.03M	-58.56M
Interest on Long-Term Debt	5.67M	13.33M	3M	4.18M	1.94M
Non-Cash Pension Expense	-297K	-750K	-946K	-590K	1.16M
Supplemental Operating Expense Items
General and Administrative Expenses	-	-	-	-	-
Net Rental Expense, Total	-	-	-	-	-
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	249K	995K	928K	767K	1.48M
Total Stock-Based Compensation	249K	995K	928K	767K	1.48M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	36.17M	25.35M	2.42M	27.76M	3.48M
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	36.17M	25.35M	2.42M	27.76M	3.48M
Accounts Receivable, Total	21.45M	19.5M	15.02M	7.17M	13.16M
Other Receivables	16.62M	21.23M	10.81M	9.07M	6.81M
Total Receivables	38.07M	40.73M	25.83M	16.24M	19.97M
Inventory	107M	78.29M	77.1M	70.39M	56.33M
Prepaid Expenses	3.35M	1.29M	2.65M	2.57M	2.33M
Other Current Assets, Total	-	79.03M	-	-	-
Total Current Assets	185M	225M	108M	117M	82.11M
Gross Property Plant And Equipment	193M	136M	158M	130M	141M
Accumulated Depreciation	-7.41M	-17.67M	-34.08M	-42.58M	-46.13M
Net Property Plant And Equipment	186M	119M	124M	87.6M	95.06M
Long-term Investments	500K	1.14M	1.43M	1.43M	1.43M
Other Intangibles, Total	11.72M	11.42M	11.12M	10.83M	10.53M
Deferred Tax Assets Long-Term	-	202K	-	-	-
Deferred Charges Long-Term	1.43M	-	-	-	-
Other Long-Term Assets, Total	31.79M	15.41M	33.27M	3.66M	687K
Total Assets	416M	372M	278M	220M	190M
Liabilities
Accounts Payable, Total	27.48M	51.95M	32.55M	34.51M	39.04M
Accrued Expenses, Total	14.11M	18.79M	18.61M	11.17M	7.55M
Current Portion of Long-Term Debt	7.92M	9.08M	1.58M	4.4M	4.55M
Current Portion of Leases	1.27M	1.16M	746K	1.26M	1.38M
Unearned Revenue Current, Total	684K	837K	883K	1.21M	2.5M
Other Current Liabilities	2.57M	4.21M	187K	14K	19K
Total Current Liabilities	54.04M	86.04M	54.56M	52.56M	55.05M
Long-Term Debt	109M	45.93M	22.65M	10.89M	25.81M
Long-Term Leases	2.13M	1.52M	653K	5.17M	4.89M
Pension & Other Post Retirement Benefits	10.04M	7.6M	8.1M	4.71M	2.88M
Deferred Tax Liability Non Current	4.32M	-	-	-	-
Other Non Current Liabilities	7.36M	5.96M	6.75M	1.52M	40.57M
Total Liabilities	187M	147M	92.71M	74.85M	129M
Common Stock, Total	255M	255M	255M	274M	275M
Retained Earnings	-36.18M	-35.63M	-82.65M	-130M	-229M
Comprehensive Income and Other	10.61M	5.37M	13.16M	1.57M	14.11M
Total Common Equity	229M	224M	185M	146M	60.62M
Total Equity	229M	224M	185M	146M	60.62M
Total Liabilities And Equity	416M	372M	278M	220M	190M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	17.76M	17.76M	17.76M	22.6M	23.15M
ECS Total Common Shares Outstanding	17.76M	17.76M	17.76M	22.6M	23.14M
Book Value / Share	12.91	12.64	10.43	6.44	2.62
Tangible Book Value	217M	213M	174M	135M	50.09M
Tangible Book Value Per Share	12.25	12	9.81	5.96	2.16
Total Debt	120M	57.7M	25.63M	21.72M	36.63M
Net Debt	84.03M	32.35M	23.2M	-6.04M	33.15M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-25.42M	-12.08M	-19.3M	1.2M	1.02M
Debt Equivalent Oper. Leases	-	-	-	-	-
Equity Method Investments, Total	-	-	-	-	-
Account Code - Inventory Valuation	5	6	6	6	6
Inventories - Raw Materials, Total	31.5M	30.64M	31.67M	25.62M	16.99M
Inventories - Work In Process, Total	20.9M	14.45M	14.17M	16.57M	14.11M
Inventories - Finished Goods, Total	49.75M	27.76M	27.49M	26.94M	24.09M
Inventories - Others	5.06M	5.44M	3.77M	1.26M	1.15M
Land - (BS)	53.12M	28.23M	27.8M	12.17M	12.82M
Buildings, Total	-	-	-	-	-
Machinery, Total	123M	71.41M	86.16M	94.44M	107M
Full Time Employees	1.5K	5.61K	1.1K	750	750
Accumulated Allowance for Doubtful Accounts (Supple)	158K	1.46M	285K	158K	158K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-9.62M	-910K	-47.02M	-47.07M	-98.84M
Depreciation & Amortization - CF	7.4M	20.08M	17.12M	16.88M	14.89M
Amortization of Goodwill and Intangible Assets - (CF)	98K	296K	295K	295K	296K
Depreciation & Amortization, Total	7.5M	20.37M	17.41M	17.17M	15.18M
Amortization of Deferred Charges, Total - (CF)	-	2.78M	214K	397K	10K
(Gain) Loss From Sale Of Asset	-	-8M	4.43M	15.52M	-76K
(Gain) Loss on Sale of Investments - (CF)	-	-643K	-286K	-	-
Asset Writedown & Restructuring Costs	-	-	-	-	9M
Stock-Based Compensation (CF)	249K	995K	928K	767K	1.48M
Provision and Write-off of Bad Debts	-	1.3M	-	-	-
Other Operating Activities, Total	840K	43.62M	-29.95M	-25.5M	67.94M
Change In Accounts Receivable	-24.68M	-5.92M	14.84M	1.77M	-3.74M
Change In Inventories	-8.27M	-27.57M	-3.2M	1.44M	-4.76M
Change In Accounts Payable	38.02M	31.85M	-15.39M	11.51M	2.94M
Change in Other Net Operating Assets	-101K	-	-	-	-
Cash from Operations	3.94M	57.86M	-58.03M	-23.99M	-10.86M
Capital Expenditure	-6.09M	-33.6M	-24.18M	-8.42M	-30.01M
Sale of Property, Plant, and Equipment	-	48.67M	94.09M	3.46M	76K
Cash Acquisitions	-245M	-	-	-	-
Investment in Marketable and Equity Securities, Total	-500K	-	-	-	-
Other Investing Activities, Total	-	-	-2.55M	24.62M	2.1M
Cash from Investing	-252M	15.06M	67.36M	19.67M	-27.83M
Long-Term Debt Issued, Total	126M	84M	47.5M	39.62M	18M
Total Debt Issued	126M	84M	47.5M	39.62M	18M
Long-Term Debt Repaid, Total	-2.08M	-165M	-79.76M	-26.63M	-4.78M
Total Debt Repaid	-2.08M	-165M	-79.76M	-26.63M	-4.78M
Issuance of Common Stock	171M	-	-	24.81M	1.2M
Repurchase of Common Stock	-	-	-	-258K	-
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-16.2M	-3.11M	-	-7.89M	-
Cash from Financing	279M	-83.75M	-32.26M	29.65M	14.42M
Foreign Exchange Rate Adjustments	-	-	-	-	-
Net Change in Cash	30.89M	-10.82M	-22.93M	25.33M	-24.28M
Supplemental Items
Cash Interest Paid	-	9.22M	3.04M	2.52M	1.56M
Cash Income Tax Paid (Refund)	-	-	534K	-	-
Levered Free Cash Flow	-104M	-24.26M	33.24M	18.48M	-58.85M
Unlevered Free Cash Flow	-99.85M	-18.72M	34.9M	20.69M	-53.24M
Change In Net Working Capital	105M	21.81M	-70.22M	-11.05M	-12.77M
Net Debt Issued / Repaid	124M	-80.64M	-32.26M	12.99M	13.22M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.47	3.89	-9.08	0.05	-25.68
Return on Total Capital	1.75	4.84	-11.96	0.06	-39.82
Return On Equity %	-7.97	-1.82	-23.82	-13.08	-95.85
Return on Common Equity	-7.97	-1.82	-23.82	-13.08	-95.85
Margin Analysis
Gross Profit Margin %	14.83	18.07	-3.04	2.53	1.17
SG&A Margin	4.43	4.78	5.02	4.08	5.12
EBITDA Margin %	6.37	8.82	-7.56	5.6	-23.31
EBITA Margin %	2.73	5.04	-11.44	0.17	-27.67
EBIT Margin %	2.68	4.98	-11.51	0.07	-27.76
Income From Continuing Operations Margin %	-5.05	-0.84	-11.91	-7.65	-32.56
Net Income Margin %	-5.05	-0.18	-11.48	-16.64	-32.56
Net Avail. For Common Margin %	-5.05	-0.84	-11.91	-7.65	-32.56
Normalized Net Income Margin	-0.58	-0.28	-7.58	-0.36	-19.29
Levered Free Cash Flow Margin	-54.34	-4.93	8.12	6.53	-19.39
Unlevered Free Cash Flow Margin	-52.42	-3.8	8.52	7.32	-17.54
Asset Turnover
Asset Turnover	0.88	1.25	1.26	1.14	1.48
Fixed Assets Turnover	1.93	3.23	3.37	2.67	3.32
Receivables Turnover (Average Receivables)	-	24.04	23.73	25.5	29.86
Inventory Turnover (Average Inventory)	-	4.35	5.43	3.74	4.73
Short Term Liquidity
Current Ratio	3.42	2.61	1.98	2.23	1.49
Quick Ratio	1.37	0.77	0.52	0.84	0.43
Operating Cash Flow to Current Liabilities	0.07	0.67	-1.06	-0.46	-0.2
Days Sales Outstanding (Average Receivables)	-	15.19	15.38	14.35	12.22
Days Outstanding Inventory (Average Inventory)	-	83.96	67.19	97.9	77.09
Average Days Payable Outstanding	-	38.73	36.64	45.62	46.94
Cash Conversion Cycle (Average Days)	-	60.42	45.93	66.63	42.37
Long Term Solvency
Total Debt/Equity	52.45	25.71	13.83	14.91	60.43
Total Debt / Total Capital	34.41	20.45	12.15	12.98	37.67
LT Debt/Equity	48.44	21.14	12.58	11.03	50.64
Long-Term Debt / Total Capital	31.78	16.82	11.05	9.6	31.56
Total Liabilities / Total Assets	44.91	39.58	33.35	33.95	68.06
EBIT / Interest Expense	0.87	1.84	-15.73	0.05	-9.38
EBITDA / Interest Expense	2.15	3.37	-9.92	4.16	-7.69
(EBITDA - Capex) / Interest Expense	1.11	0.85	-17.98	2.14	-11.03
Total Debt / EBITDA	9.54	1.29	-0.86	1.25	-0.53
Net Debt / EBITDA	6.67	0.72	-0.78	-0.35	-0.48
Total Debt / (EBITDA - Capex)	18.46	5.11	-0.48	2.43	-0.37
Net Debt / (EBITDA - Capex)	12.91	2.86	-0.43	-0.67	-0.33
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	269.13	-16.76	-0.64	7.32
Gross Profit, 1 Yr. Growth %	-	279.91	-114	-213.2	-70.13
EBITDA, 1 Yr. Growth %	-	320.36	-171.42	-173.23	-546.8
EBITA, 1 Yr. Growth %	-295.71	411.58	-288.82	-101.31	-17.24K
EBIT, 1 Yr. Growth %	-292.02	415.9	-292.3	-100.52	-43.32K
Earnings From Cont. Operations, 1 Yr. Growth %	327.51	-58.77	1.08K	-45.15	356.98
Net Income, 1 Yr. Growth %	327.51	-88.85	5.07K	0.12	109.98
Normalized Net Income, 1 Yr. Growth %	-21.2	2.62	2.12K	-95.9	5.57K
Diluted EPS Before Extra, 1 Yr. Growth %	20.53	-82.1	1.08K	-45.92	262.45
Accounts Receivable, 1 Yr. Growth %	-	-9.08	-22.99	-52.26	83.64
Inventory, 1 Yr. Growth %	-	-26.97	-1.53	-8.7	-19.97
Net Property, Plant and Equip., 1 Yr. Growth %	1.51K	-36.24	4.63	-29.42	8.52
Total Assets, 1 Yr. Growth %	2.3K	-10.99	-25.18	-20.68	-13.9
Tangible Book Value, 1 Yr. Growth %	1.69K	-2.68	-18.27	-22.59	-62.84
Common Equity, 1 Yr. Growth %	1.78K	-2.67	-17.47	-21.39	-58.37
Cash From Operations, 1 Yr. Growth %	-345.94	1.37K	-200.29	-58.66	-54.71
Capital Expenditures, 1 Yr. Growth %	-	451.59	-28.03	-65.19	256.42
Levered Free Cash Flow, 1 Yr. Growth %	12.05K	-76.22	-237	-52.72	-418.44
Unlevered Free Cash Flow, 1 Yr. Growth %	11.89K	-81.19	-286.46	-49.22	-357.31
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	75.29	-24.19	3.26
Gross Profit, 2 Yr. CAGR %	-	-	-27.08	-71.64	-24.92
EBITDA, 2 Yr. CAGR %	-	-	73.27	-39.59	80.89
EBITA, 2 Yr. CAGR %	200.28	205.65	210.8	-85.95	49.64
EBIT, 2 Yr. CAGR %	197.44	203.82	214.97	-91.08	49.32
Earnings From Cont. Operations, 2 Yr. CAGR %	1.32K	35.52	120.66	128.8	58.31
Net Income, 2 Yr. CAGR %	1.32K	-36.4	140.02	619.23	44.99
Normalized Net Income, 2 Yr. CAGR %	31.14	-0.36	377.82	-14.01	52.4
Diluted EPS Before Extra, 2 Yr. CAGR %	681.65	-52.09	45.4	127.19	40
Accounts Receivable, 2 Yr. CAGR %	-	-	-16.33	-39.37	-6.37
Inventory, 2 Yr. CAGR %	-	-	-15.2	-5.18	-14.52
Net Property, Plant and Equip., 2 Yr. CAGR %	-	220.94	-18.32	-14.07	-12.49
Total Assets, 2 Yr. CAGR %	459.53	363.22	-18.4	-22.96	-17.36
Tangible Book Value, 2 Yr. CAGR %	307.27	318.31	-10.81	-20.46	-46.37
Common Equity, 2 Yr. CAGR %	318.1	329.38	-10.38	-19.46	-42.79
Cash From Operations, 2 Yr. CAGR %	73.24	501.37	284.01	-35.61	-56.73
Capital Expenditures, 2 Yr. CAGR %	-	-	99.24	-49.95	11.39
Levered Free Cash Flow, 2 Yr. CAGR %	1.52K	433.67	-42.92	-12.72	22.69
Unlevered Free Cash Flow, 2 Yr. CAGR %	1.5K	374.16	-40.77	5.14	14.3
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	28.5	-14.88
Gross Profit, 3 Yr. CAGR %	-	-	-	-32.64	-65.78
EBITDA, 3 Yr. CAGR %	-	-	-	15.33	17.7
EBITA, 3 Yr. CAGR %	173.68	250.45	160.31	-53.43	50.12
EBIT, 3 Yr. CAGR %	171.95	249.05	160.86	-65.51	50.9
Earnings From Cont. Operations, 3 Yr. CAGR %	15.45	343.26	178.88	29.23	188.14
Net Income, 3 Yr. CAGR %	15.45	167.68	175.44	79.33	377.13
Normalized Net Income, 3 Yr. CAGR %	16.73	29.4	180.59	-8.79	247.43
Diluted EPS Before Extra, 3 Yr. CAGR %	-25.03	126.6	39.44	-2.6	165.46
Accounts Receivable, 3 Yr. CAGR %	-	-	-	-30.6	-12.27
Inventory, 3 Yr. CAGR %	-	-	-	-13.08	-10.39
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	120.89	-22.2	-7.12
Total Assets, 3 Yr. CAGR %	213.69	203.53	152.26	-19.17	-20.05
Tangible Book Value, 3 Yr. CAGR %	153.8	153.3	142.73	-14.93	-38.28
Common Equity, 3 Yr. CAGR %	158.28	157.74	147.79	-14.21	-35.36
Cash From Operations, 3 Yr. CAGR %	467.91	253.39	231.01	82.68	-42.74
Capital Expenditures, 3 Yr. CAGR %	-	-	-	11.39	-3.7
Levered Free Cash Flow, 3 Yr. CAGR %	874.55	295.56	239.17	-43.42	34.36
Unlevered Free Cash Flow, 3 Yr. CAGR %	862.93	262.79	247.38	-40.75	41.69
Compound Annual Growth Rate Over Five Years
EBITA, 5 Yr. CAGR %	27.54	144.41	184	-3.21	99.51
EBIT, 5 Yr. CAGR %	27.06	143.82	184.36	-19.5	99.65
Earnings From Cont. Operations, 5 Yr. CAGR %	1.46	33	50.83	240.23	113.09
Net Income, 5 Yr. CAGR %	1.46	-1.73	49.71	297.48	113.09
Normalized Net Income, 5 Yr. CAGR %	3.77	6.85	113.72	9.89	110.81
Diluted EPS Before Extra, 5 Yr. CAGR %	-15.17	-12.56	-1.07	126.83	33.84
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-	52.52
Total Assets, 5 Yr. CAGR %	77.17	74.51	83.18	75.39	61.43
Tangible Book Value, 5 Yr. CAGR %	55.72	56.32	67.26	59.37	32.69
Common Equity, 5 Yr. CAGR %	57.36	57.96	69.35	61.85	37.86
Cash From Operations, 5 Yr. CAGR %	10.75	208.87	385.63	78.85	46.68
Levered Free Cash Flow, 5 Yr. CAGR %	146.08	229.35	212.34	116.12	133.27
Unlevered Free Cash Flow, 5 Yr. CAGR %	144.31	212.69	215.39	121.06	129.7