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Yellow Pages Limited (YLWDF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Yellow Pages Limited $16.08, price $9.30, upside +72.9%, quality 76 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Broad data
Sep 24, 2026
Broad data
Sep 24, 2026
Yellow Pages Limited
YLWDF · USStrongly undervaluedStrong Fair Value upside with high Quality.
✓Fair value $16.08 · Strongly undervalued (+72.9%)
✓Quality 76/100
!Weak Growth (revenue 5y −9.8 %/yr)
!Thin margins · 8.8% net margin (TTM)
!High debt · generates free cash flow
✓10.8% dividend yield · Sustainable
✓Wide moat 66/100
What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $2.25 – $10.80 · fair‑value band $11.67 – $21.80 · the $9.30 price screens below the $16.08 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Yellow Pages Limited, through its subsidiaries, provides digital and print media, and marketing solutions to small and medium-sized enterprises in Canada.
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Yellow Pages Limited, through its subsidiaries, provides digital and print media, and marketing solutions to small and medium-sized enterprises in Canada. The company offers digital and traditional marketing solutions, including online and mobile priority placement on Yellow Pages digital media properties, content syndication, search engine, website fulfillment, social media campaign management, digital display advertising, reputation management as well as print advertising including printed directories and direct mail marketing. Its online properties include YP.ca that allows users to discover and transact within their local neighborhoods through merchant profiles, editorial content, reviews, and booking functionalities; Canada411, an online and mobile destination for personal and local business information; and 411.ca, a digital directory service to help users find and connect with people and local businesses .It also operates as a directory publisher for Bell, Telus, Bell Aliant, Bell MTS, and other telephone companies; and Yellow Pages print directories, which offers numbers and addresses for local communities. Yellow Pages Limited was founded in 1908 and is headquartered in Montreal, Canada.
Stock analysis
Yellow Pages Limited (YLWDF) currently trades at $9.30, while our model-based Fair Value estimate is $16.08, implying the stock looks roughly 42.2% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $18.66 per share, and 19 of the 24 models we run sit above the $9.30 price.
Bear case: the Asset-Based group reads lowest at $1.80, and 5 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: $11.67 (bear) to $21.80 (bull), the price of $9.30 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 76/100 (high quality), in the Communication Services sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Yellow Pages Limited reported revenue of C$199M in FY2025 versus C$288M in FY2021, a compound −8.8%/yr. Reported net income was C$18.1M in FY2025, compounding −28.9%/yr from FY2021.
Key figures
Market cap $128M · P/E ratio 9.8 · P/S ratio 0.89 · EPS (TTM) $0.8900 · Dividend yield 10.8% · Net margin 9.1% · Return on equity 30.3% · Return on assets (EBIT) 27.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 24% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 0% fair-value upside, at 73%, YLWDF screens cheaper than that median.
Fair Value models
Bear $11.67
Fair Value $16.08
Bull $21.80
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF
$10.80
$14.12
$19.46
81
Growth DCF
$11.12
$14.24
$18.88
80
Owner Earnings
$9.07
$11.94
$16.57
77
All 24 models by family
DCF Models
FCF DCF
$10.80
$14.12
$19.46
81
Owner Earnings
$9.07
$11.94
$16.57
77
5Y Revenue Exit
$11.06
$16.53
$24.47
72
5Y EBITDA Exit
$13.10
$20.06
$29.28
75
5Y P/E Exit
$11.04
$16.50
$23.04
71
10Y Revenue Exit
$10.58
$14.17
$17.95
68
10Y EBITDA Exit
$11.92
$16.03
$20.36
69
10Y P/E Exit
$10.85
$14.15
$17.23
65
Earnings-Based
Graham-Dodd
$6.37
$7.78
$8.75
67
EPV
$8.22
$9.44
$10.44
74
Dividend Discount
Gordon GGM
$4.89
$5.22
$5.72
69
DDM Multi-Stage
$4.89
$5.65
$6.61
67
Multiples
P/E Multiple
$15.44
$20.59
$25.74
63
P/S Multiple
$11.93
$15.91
$19.89
58
P/B Multiple
$7.03
$9.38
$11.72
55
EV/EBIT
$17.07
$23.42
$29.77
66
EV/EBITDA
$18.03
$24.71
$31.38
67
EV/Revenue
$12.46
$18.66
$24.85
53
Asset-Based
NCAV (Graham)
$1.34
$1.80
$2.68
54
Growth DCF
Growth DCF
$11.12
$14.24
$18.88
80
Rev-Margin DCF
$11.06
$16.89
$24.08
72
Economic Profit
Residual Income
$4.09
$4.77
$6.46
76
ROIC Compounder
$8.22
$9.72
$11.09
72
Growth Earnings
Growth-Adj P/E
$10.89
$15.55
$20.22
67
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Set up alert →Quality Score breakdown
Overall quality
76/100
Of which business quality 73 · Market factors (momentum, volatility) 61
Profitability
81
Margins and returns on capital today
Quality Growth
29
Are margins and returns improving?
Cashflow
83
Earnings quality: real cash, not paper profit
Fin. Strength
60
Balance sheet, leverage, solvency risk
Investment
100
Disciplined investing over empire-building
Low Volatility
45
Calm price path (market factor)
Momentum
64
Price trend over the last 3–12 months (market factor)
52W Momentum
72
Distance to the 52-week high (market factor)
Net Issuance
90
Share count: buybacks or dilution?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−7.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−9.5%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−9.8%
Start year 2020 (pandemic). Over 10 years: −13.3% a year
Revenue growth 21 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−4.6%
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’16
’17
’18
’19
’20
’21
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’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+5.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.0%
Dividend (yield on the price)10.8%
Pace: 5 vs 10 years ⓘ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.−13.0% vs −9.9%, slowing
Profit margin 2020 to 2025 ⓘ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.28% → 15%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 5.7%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−0.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in CAD, Canada: IMF forecast 2.1% a year to 2030, 2.6% from 2016 to 2025) that is about −2.9% a year for the price.
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Similar stocks
10 more Publishing stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| The New York Times Company NYT | $63.70 | $42.10 | −34% |
| Xinhua Winshare Publishing and Media Co 601811 | ¥21.12 | ¥21.02 | +0% |
| Jiangsu Phoenix Publishing & Media Corporation 601928 | ¥8.34 | ¥9.14 | +10% |
| China South Publishing & Media Group 601098 | ¥10.27 | ¥10.70 | +4% |
| People.cn CO., LTD 603000 | ¥16.51 | ¥4.23 | −74% |
| China Science Publishing & Media Ltd 601858 | ¥22.11 | ¥10.08 | −54% |
| Zhejiang Publishing & Media Co 601921 | ¥7.56 | ¥7.45 | −1% |
| John Wiley & Sons, Inc WLY | $47.76 | $61.05 | +28% |
| Shandong Publishing&Media Co 601019 | ¥6.84 | ¥11.60 | +70% |
| TX Group TXGN | CHF 167.40 | CHF 43.33 | −74% |
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Frequently asked questions
Is Yellow Pages Limited (YLWDF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $16.08 versus a price of $9.30, about +73% upside (undervalued).
What is the fair value of YLWDF?
Our model-based fair value for Yellow Pages Limited is $16.08 (as of Sep 24, 2026), built from audited fundamentals. The current price: $9.30.
What is the quality score of YLWDF?
Yellow Pages Limited has a Quality Score of 76/100. 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 price target for Yellow Pages Limited (YLWDF)?
Our model-based price target is the fair value of $16.08 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario $11.67, optimistic scenario $21.80. It is a calculation from audited fundamentals, not an analyst target.
What is the Yellow Pages Limited stock forecast for 2026?
Our models put fair value at $16.08, about +73% upside versus a price of $9.30 (undervalued). Cautious scenario $11.67, optimistic scenario $21.80. The calculation is refreshed regularly with new filings.
What is the revenue of Yellow Pages Limited (YLWDF)?
Yellow Pages Limited reported trailing-twelve-month revenue of about C$195M (latest available figure, as of Sep 24, 2026).
Does Yellow Pages Limited pay a dividend?
Yellow Pages Limited currently shows a dividend yield of about 10.75% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Yellow Pages Limited (YLWDF)?
For today's price to be fair in a discounted-cash-flow model, Yellow Pages Limited would have to grow free cash flow by -0.8 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -9.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of YLWDF use?
Our models discount Yellow Pages Limited at 11.6 %: a base by market capitalisation (micro), damped by beta 0.63, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Yellow Pages Limited that is -0.8 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Yellow Pages Limited (YLWDF) delivered so far?
Over the past 5 years revenue at Yellow Pages Limited grew -9.8 % a year. The price currently implies -0.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Yellow Pages Limited (YLWDF) growing?
The median revenue growth in the sector is +3.0 % a year. That is the yardstick for the growth priced into Yellow Pages Limited (-0.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Yellow Pages Limited (YLWDF)?
The free-cash-flow yield on the price is 18.37 %: that much free cash flow Yellow Pages Limited produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Yellow Pages Limited (YLWDF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Yellow Pages Limited it is $16.08 per share (as of Sep 24, 2026), against a price of $9.30. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Yellow Pages Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, YLWDF trades below its calculated fair value: price $9.30, fair value $16.08, a gap of about +73% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of YLWDF?
No. The price is what the market pays today ($9.30); the fair value is what the company's own numbers justify ($16.08). For Yellow Pages Limited the two are $6.78 per share apart. That gap is exactly why we show both numbers side by side.
How much is Yellow Pages Limited worth?
The market values Yellow Pages Limited at about $128M (market capitalisation, as of Sep 24, 2026). Per share that is $9.30; our models calculate a fair value of $16.08 per share.
What do the bullish and bearish scenarios say about YLWDF?
Our models span a range for Yellow Pages Limited: cautious scenario $11.67, base $16.08, optimistic $21.80 per share (as of Sep 24, 2026, price $9.30). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is YLWDF from its 52-week high?
Yellow Pages Limited trades at $9.30, about 5% below its 52-week high of $9.82 and 24% above the low of $7.49 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $16.08 is for.
Which stocks are comparable to Yellow Pages Limited?
From the same area (Communication Services) we also value The New York Times Company, Xinhua Winshare Publishing and Media Co, Jiangsu Phoenix Publishing & Media Corporation, China South Publishing & Media Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Yellow Pages Limited stock attractive at the current price?
The data as of Sep 24, 2026: price $9.30, calculated fair value $16.08 (+73%), Quality Score 76/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of YLWDF calculated?
We run Yellow Pages Limited through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $16.08, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Yellow Pages Limited currently trades 42 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Yellow Pages Limited (YLWDF)?
The closing price on Oct 2, 2026 was $9.30. Our model-based fair value is $16.08, about +73% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Yellow Pages Limited right now?
The rarer combination: high quality (76/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case ($11.67). The market is more pessimistic than our downside scenario. A fairly wide model range ($11.67 to $21.80) leaves room in how you read the outcome.
Key figures of Yellow Pages Limited
How large is the market capitalisation of Yellow Pages Limited (YLWDF)?
The market capitalisation of Yellow Pages Limited is $128M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Yellow Pages Limited (YLWDF)?
The price-to-earnings ratio of Yellow Pages Limited is 9.8 (as of Jun 25, 2026). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Yellow Pages Limited (YLWDF)?
The price-to-sales ratio of Yellow Pages Limited is 0.89 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Yellow Pages Limited (YLWDF)?
Earnings per share at Yellow Pages Limited are $0.8900 (price ÷ EPS = P/E 9.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Yellow Pages Limited (YLWDF)?
The dividend yield of Yellow Pages Limited is 10.8% (payout 112%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Yellow Pages Limited (YLWDF)?
The net margin of Yellow Pages Limited is 9.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Yellow Pages Limited (YLWDF)?
The return on equity (ROE) of Yellow Pages Limited is 30.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Yellow Pages Limited (YLWDF)?
On an EBIT basis the return on assets of Yellow Pages Limited is 27.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Yellow Pages Limited (YLWDF)?
The operating margin of Yellow Pages Limited is 12.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Yellow Pages Limited (YLWDF)?
Revenue at Yellow Pages Limited is growing −7.8% versus a year earlier (3y avg −9.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Yellow Pages Limited (YLWDF)?
Earnings per share at Yellow Pages Limited are growing −13.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Yellow Pages Limited (YLWDF) hold?
Yellow Pages Limited holds more cash than debt, C$26.5M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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