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Corby Spirit and Wine Limited (CSW-A) Fair Value & Analysis

Consumer Defensive · CA · Market cap C$446M (≈ $323M) · ISIN CA2183491083

What is Corby Spirit and Wine Limited really worth?

CS Corby Spirit and Wine Limited CSW-A · TO
PriceC$15.69
Fair ValueC$17.05
Upside+8.7%
Quality68/100

A solid business, currently priced close to our fair value of C$17.05.

As of Aug 27, 2026, the fair value of Corby Spirit and Wine Limited is C$17.05 per share against a price of C$15.69, so the fair value sits 9% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Solidly profitable · 12.2% net margin
Moderate debt · generates free cash flow
Ranks above peers (11/14)

Risks

!Mixed Growth (revenue 5y +10.0 %/yr)
!Moderate moat 64/100

For context

·5.99% dividend yield
Evidence: High Range C$10.51 – C$23.74

Fair value as of: Aug 27, 2026

From 25 valuation models · updated 9 days ago

Fair value updated Aug 27, 2026, revised from C$17.16 to C$17.05 (−0.6%) since Aug 21, 2026. Share price −3.0% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (C$10.51 to C$23.74) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

C$16.80 C$10.76 Fair Value C$17.05 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range C$10.76 – C$16.80 · fair‑value band C$10.51 – C$23.74 · the C$15.69 price screens below the C$17.05 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

Corby Spirit and Wine Limited (CSW-A) currently trades at C$15.69, while our model-based Fair Value estimate is C$17.05, implying the stock looks roughly 8.0% fairly valued today. The Quality Score stands at 68/100 (solid quality), in the Consumer Defensive sector. Bull case: the Multiples group reads highest at a median of C$16.38 per share, and 8 of the 25 models we run sit above the C$15.69 price. Bear case: the Asset-Based group reads lowest at C$4.31, and 17 of the 25 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Corby Spirit and Wine Limited generated revenue of C$273M at a net margin of 12.2%. Revenue grew 21.3% year over year. It earns a return on equity of 17.7%. Net debt stands at C$110M. Fundamentals as of Aug 27, 2026

Our scenario range runs from C$10.51 (bear case) to C$23.74 (bull case); at C$15.69, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 19% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −4% fair-value upside, at 9%, CSW-A screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 12 months have passed since. In that time the company retained roughly C$0.2200 per share, which is 1.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF C$9.51 C$13.96 C$19.43 79
Growth DCF C$9.75 C$13.81 C$18.60 78
Owner Earnings C$9.18 C$13.52 C$18.85 76
All 25 models by family
DCF Models
FCF DCF C$9.51 C$13.96 C$19.43 79
Owner Earnings C$9.18 C$13.52 C$18.85 76
5Y Revenue Exit C$6.84 C$11.09 C$16.21 71
5Y EBITDA Exit C$12.74 C$21.54 C$31.29 73
5Y P/E Exit C$9.59 C$15.96 C$22.24 69
10Y Revenue Exit C$7.64 C$11.42 C$15.89 66
10Y EBITDA Exit C$11.23 C$17.85 C$25.88 67
10Y P/E Exit C$9.43 C$14.42 C$19.88 63
Earnings-Based
Graham-Dodd C$6.55 C$14.94 C$19.15 63
PEG = 1.0 C$2.48 C$3.55 C$4.61 55
EPV C$6.38 C$7.74 C$8.87 72
Dividend Discount
Gordon GGM C$6.99 C$10.58 C$14.04 66
DDM Multi-Stage C$6.99 C$9.68 C$12.28 65
Multiples
P/E Multiple C$15.17 C$20.23 C$25.29 61
P/S Multiple C$10.40 C$13.87 C$17.34 56
P/B Multiple C$12.28 C$16.38 C$20.47 53
EV/EBIT C$17.09 C$23.97 C$30.86 64
EV/EBITDA C$17.80 C$24.92 C$32.05 66
EV/Revenue C$5.53 C$9.43 C$13.33 51
Asset-Based
NCAV (Graham) C$3.22 C$4.31 C$6.44 52
Growth DCF
Growth DCF C$9.75 C$13.81 C$18.60 78
Rev-Margin DCF C$6.84 C$11.32 C$16.15 71
Economic Profit
Residual Income C$6.08 C$7.15 C$11.39 73
ROIC Compounder C$6.38 C$8.07 C$9.84 71
Growth Earnings
Growth-Adj P/E C$11.39 C$16.27 C$21.15 66

Widest divergence: Multiples (C$16.38) versus Asset-Based (C$4.31). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 13.5 as of Jul 18, 2026
P/S ratio 1.50 P/E × margin
EPS (TTM) C$1.16 price ÷ EPS = P/E 13.5
Dividend yield 6.0% payout 81.0%
Net margin 11.1% FY2025
Return on equity 17.7% TTM
More key figures
Profitability
Return on assets (EBIT) 11.6% avg 5y
Operating margin 20.2% TTM
Growth
Revenue (TTM) C$273M TTM
Revenue growth (YoY) +21.3% 3y avg +15.7%
EPS growth (YoY) +98.9%
Balance sheet & cash flow
Free cash flow C$42.3M FY2025
Net debt C$110M FY2025 · ≈ 2.6 yrs of FCF

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 65 · Market factors (momentum, volatility) 68

Profitability 51
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 97
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 64
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Corby Spirit and Wine Limited, together with its subsidiaries, manufactures, markets, and imports spirits, wines, and ready-to-drink cocktails in Canada, the United States, the United Kingdom, and internationally. It operates in two segments, Case Goods and Commissions. The company offers its products under the J.P. Wiser's, Lot No.

Full company description

Corby Spirit and Wine Limited, together with its subsidiaries, manufactures, markets, and imports spirits, wines, and ready-to-drink cocktails in Canada, the United States, the United Kingdom, and internationally. It operates in two segments, Case Goods and Commissions. The company offers its products under the J.P. Wiser's, Lot No. 40, Midleton, Meaghers, Pike Creek, Gooderham & Worts, Lamb's rum, Skrewball, Codigo 1530, Martell, Havana Club, Polar Ice vodka, McGuinness, Ungava, Cabot Trail, Chic Choc, Kayak, Quartz, Malfy Gin, Slow Press, Stave & Steel, Mumm Napa, The Foreign Affair Winery, Absolut vodka, ALTOS, Chivas Regal, Aberlour, and The Glenlivet and Ballantine's Scotch whiskies brands. It also sells its products under the Jameson Irish whiskey, Beefeater gin, Malibu rum, Kahlúa liqueur, Mumm Champagne, Jacob's Creek, G.H. Mumm, Perrier-Jouet, Kenwood Vineyards, Royal Salute, Soho, Redbreast, Spot Whiskeys, Ramazzotti, Olmeca, Pernod, Cottage Springs, Stoneleigh, Nude, Ricard, Lillet, Brancott Estate, Campo Viejo, and Wyndham Estate wines brands. The company also provides logistics and bulk whisky services. The company was formerly known as Corby Distilleries Limited and changed its name to Corby Spirit and Wine Limited in November 2013. The company was founded in 1859 and is based in Toronto, Canada. Corby Spirit and Wine Limited operates as a subsidiary of Hiram Walker & Sons Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Corby Spirit and Wine Limited reported revenue of C$247M in FY2025 versus C$160M in FY2021, a compound +11.5%/yr. Reported net income was C$27.4M in FY2025, compounding −2.7%/yr from FY2021.

Growth Quality 83/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
C$247M
Latest YoY
+7.5%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.7%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.0%
Avg. revenue growth/yr (28Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+6.6% · in CAD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+0.6%
Dividend yield6.0%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 0.6% vs 10Y 0.9%, steady
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.23.4% (2020) → 18.7% (2025) · falling
Worst earnings drop62% (2009) · in CAD
Revenue +11.5%/yr
FY21 C$160M
FY22 C$159M
FY23 C$163M
FY24 C$230M
FY25 C$247M
Net income −2.7%/yr
FY21 C$30.6M
FY22 C$23.4M
FY23 C$22.0M
FY24 C$23.9M
FY25 C$27.4M
Character of growth · EPS growth decomposed (2014-2025) +0.4 % p.a.
Revenue per share +5.1 %

of which total revenue +5.1 % · buybacks/dilution +0.0 %

EBIT margin −2.8 %
Tax rate −0.1 %
Residual (interest, one-offs) −1.6 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Corby Spirit and Wine Limited Fair Value". https://www.fairvalue-calculator.com/stock/CSW-A

Peer Group

Beverages - Wineries & Distilleries · 93 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 68 · Top 25%
Fair Value upside +9% · Above median
Return on equity (TTM) 18% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 20% · Top 25%
Revenue growth 21% · Top 25%
Dividend yield (TTM) 6.0% · Top 25%
Debt / equity 0.56× · Higher than 75% of peers

Valuation Multiples vs Beverages - Wineries & Distilleries median · lower = cheaper

P/E (TTM) 13.5× · Cheaper than median
P/B 1.76× · Pricier than median
P/S (TTM) 1.18× · Cheaper than median
P/FCF 7.6× · Pricier than median
EV/EBITDA 6.7× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE45 · sector 16
FUTURE100 · sector 0
PAST71 · sector 19
HEALTH72 · sector 95
DIVIDEND100 · sector 60

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Alcohol

Similar stocks

10 more Beverages - Wineries & Distilleries stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
Kweichow Moutai Co 600519 ¥1,303 ¥1,238 −5%
Diageo plc DEO $92.99 $73.29 −21%
Wuliangye Yibin Co 000858 ¥71.89 ¥48.44 −33%
Shanxi Xinghuacun Fen Wine Factory Co 600809 ¥116.39 ¥185.80 +60%
Pernod Ricard SA RI €63.20 €76.13 +20%
Luzhou Laojiao Co 000568 ¥84.50 ¥149.17 +77%
Brown-Forman Corporation BFA $28.72 $27.69 −4%
United Spirits Limited UNITDSPR ₹1,528 ₹285.39 −81%
Thai Beverage Public Company Y92 0.4650 SGD 0.7000 SGD +51%
Jiangsu Yanghe Distillery Co 002304 ¥39.59 ¥27.82 −30%

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Frequently asked questions

Is Corby Spirit and Wine Limited (CSW-A) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of C$17.05 versus a price of C$15.69, about +9% upside (fairly valued).
What is the fair value of CSW-A?
Our model-based fair value for Corby Spirit and Wine Limited is C$17.05 (as of Aug 27, 2026), built from audited fundamentals. The current price: C$15.69.
What is the quality score of CSW-A?
Corby Spirit and Wine Limited has a Quality Score of 68/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Corby Spirit and Wine Limited (CSW-A)?
Corby Spirit and Wine Limited reported trailing-twelve-month revenue of about C$273M (latest available figure, as of Aug 27, 2026).
What is the net profit margin of CSW-A?
The net profit margin of Corby Spirit and Wine Limited is about 12.2%, meaning it keeps roughly 12.2% of revenue as net income. Based on the latest reported figures.
Does Corby Spirit and Wine Limited pay a dividend?
Corby Spirit and Wine Limited currently shows a dividend yield of about 5.99% relative to its recent price (as of Aug 27, 2026).
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