ZYNS.TO (ZYNS) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of ZYNS.TO C$26.16, price C$25.56, upside +2.4%, quality 76 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Sep 29, 2026.
How to read this chart
12‑month range C$19.67 – C$27.70 · fair‑value band C$15.08 – C$38.91 · the C$25.56 price screens below the C$26.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Sep 29, 2026.
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Philip Morris International Inc. operates as a tobacco company. The company offers cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches. It also offers wellness and healthcare products. Philip Morris International Inc.
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Philip Morris International Inc. operates as a tobacco company. The company offers cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches. It also offers wellness and healthcare products. Philip Morris International Inc. was incorporated in 1987 and is headquartered in Stamford, Connecticut.
Stock analysis
ZYNS.TO (ZYNS) currently trades at C$25.56, while our model-based Fair Value estimate is C$26.16, so the stock looks roughly fairly valued today (gap 2.3%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of C$31.44 per share, and 11 of the 23 models we run sit above the C$25.56 price.
Bear case: the Growth DCF group reads lowest at C$9.61, and 12 of the 23 models stay below the price. Evidence for this calculation is medium.
Scenario range: C$15.08 (bear) to C$38.91 (bull), the price of C$25.56 sits inside 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 Consumer Defensive sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
ZYNS.TO reported revenue of $40.6B in FY2025 versus $31.8B in FY2022, a compound +8.6%/yr. Reported net income was $11.3B in FY2025, compounding +7.8%/yr from FY2022.
Key figures
Market cap C$254B (≈ $178B) · P/E ratio 25.7 · P/S ratio 7.17 · Dividend yield 11.5% · Net margin 27.9% · Return on assets (EBIT) 20.2% · Free cash flow $10.7B · Net debt $44.0B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 30% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 25% fair-value upside, at 2%, ZYNS screens richer than that median.
Fair Value models
Bear C$15.08Fair Value C$26.16Bull C$38.91
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.
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.77/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+7.3%
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.
+8.6%
’22
’23
’24
’25
What shareholders gained per year (last 3 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 3 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.
+19.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.6%
Dividend (yield on the price)11.5%
Profit margin 2022 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.39% → 37%
Growth Forecast
Little optimism in the price
The price assumes less 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).
−11.6%
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 USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −13.6% a year for the price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Tobacco · 37 stocks
Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score76 · Top 25%
Fair Value upside+1.8% · Above median
Profitability
Return on equity (TTM)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets0.0% · Below median
Net margin (TTM)27.9% · Top 25%
Operating margin (TTM)0.0% · Bottom 25%
Growth and dividend
Revenue growth0.0% · Above median
Dividend yield (TTM)11.5% · Top 25%
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs Tobacco median · lower = cheaper
P/E (TTM)25.7× · Priciest 25%
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
PEG2.65× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)36· sector 34
FUTURE (revenue growth)0· sector 0
PAST (return on equity)0· sector 37
HEALTH (low debt)0· sector 96
DIVIDEND (yield)100· sector 93
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
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Cite: Fair Value Calculator (2026). "ZYNS.TO Fair Value". https://www.fairvalue-calculator.com/stock/ZYNS
Frequently asked questions
Is ZYNS.TO (ZYNS) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of C$26.16 versus a price of C$25.56, about +2% upside (fairly valued).
What is the fair value of ZYNS?
Our model-based fair value for ZYNS.TO is C$26.16 (as of Sep 29, 2026), built from audited fundamentals. The current price: C$25.56.
What is the quality score of ZYNS?
ZYNS.TO 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 ZYNS.TO (ZYNS)?
Our model-based price target is the fair value of C$26.16 (as of Sep 29, 2026) from 23 valuation models. Cautious scenario C$15.08, optimistic scenario C$38.91. It is a calculation from audited fundamentals, not an analyst target.
What is the ZYNS.TO stock forecast for 2026?
Our models put fair value at C$26.16, about +2% upside versus a price of C$25.56 (fairly valued). Cautious scenario C$15.08, optimistic scenario C$38.91. The calculation is refreshed regularly with new filings.
Does ZYNS.TO pay a dividend?
ZYNS.TO currently shows a dividend yield of about 11.50% relative to its recent price (as of Sep 29, 2026).
What growth is priced into ZYNS.TO (ZYNS)?
For today's price to be fair in a discounted-cash-flow model, ZYNS.TO would have to grow free cash flow by -11.6 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +8.6 % per year. As of Sep 29, 2026.
What discount rate (WACC) does the fair value of ZYNS use?
Our models discount ZYNS.TO at 9.0 %: a base by market capitalisation (large), country premium for Canada. 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 ZYNS.TO that is -11.6 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has ZYNS.TO (ZYNS) delivered so far?
Over the past 3 years revenue at ZYNS.TO grew +8.6 % a year. The price currently implies -11.6 % 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.
What is the free cash flow yield of ZYNS.TO (ZYNS)?
The free-cash-flow yield on the price is 38.18 %: that much free cash flow ZYNS.TO produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ZYNS.TO (ZYNS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ZYNS.TO it is C$26.16 per share (as of Sep 29, 2026), against a price of C$25.56. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is ZYNS.TO stock overvalued or undervalued in 2026?
As of Sep 29, 2026, ZYNS trades below its calculated fair value: price C$25.56, fair value C$26.16, a gap of about +2% (fairly valued). 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 ZYNS?
No. The price is what the market pays today (C$25.56); the fair value is what the company's own numbers justify (C$26.16). For ZYNS.TO the two are C$0.6000 per share apart. That gap is exactly why we show both numbers side by side.
How much is ZYNS.TO worth?
The market values ZYNS.TO at about C$254B (market capitalisation, as of Sep 29, 2026). Per share that is C$25.56; our models calculate a fair value of C$26.16 per share.
What do the bullish and bearish scenarios say about ZYNS?
Our models span a range for ZYNS.TO: cautious scenario C$15.08, base C$26.16, optimistic C$38.91 per share (as of Sep 29, 2026, price C$25.56). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ZYNS?
ZYNS.TO trades at a price-to-earnings ratio of 25.7 (as of Sep 29, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$26.16 is built from several models across several years. Other multiples: PEG 2.7.
What is the PEG ratio of ZYNS?
The PEG ratio of ZYNS.TO is 2.65 (P/E divided by earnings growth, as of Sep 29, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of ZYNS.TO (ZYNS)?
Balance-sheet figures for ZYNS.TO (as of Sep 29, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 76/100, which measures business quality independently of the share price.
How far is ZYNS from its 52-week high?
ZYNS.TO trades at C$25.56, about 8% below its 52-week high of C$27.70 and 30% above the low of C$19.67 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of C$26.16 is for.
Which stocks are comparable to ZYNS.TO?
From the same area (Consumer Defensive) we also value Philip Morris International Inc, British American Tobacco p.l.c., Altria Group, ITC Limited, 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 ZYNS.TO stock attractive at the current price?
The data as of Sep 29, 2026: price C$25.56, calculated fair value C$26.16 (+2%), Quality Score 76/100, from 23 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 ZYNS calculated?
We run ZYNS.TO through 23 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 C$26.16, 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. ZYNS.TO currently trades 2 % 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 ZYNS.TO (ZYNS)?
The closing price on Oct 2, 2026 was C$25.56. Our model-based fair value is C$26.16, about +2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ZYNS.TO right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (C$15.08 to C$38.91) leaves room in how you read the outcome.
Key figures of ZYNS.TO
How large is the market capitalisation of ZYNS.TO (ZYNS)?
The market capitalisation of ZYNS.TO is C$254B (≈ $178B). 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/S ratio of ZYNS.TO (ZYNS)?
The price-to-sales ratio of ZYNS.TO is 7.17 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of ZYNS.TO (ZYNS)?
The dividend yield of ZYNS.TO is 11.5%. 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 ZYNS.TO (ZYNS)?
The net margin of ZYNS.TO is 27.9% (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 EBIT return on assets of ZYNS.TO (ZYNS)?
On an EBIT basis the return on assets of ZYNS.TO is 20.2% (avg 4y). 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.
How much net debt does ZYNS.TO (ZYNS) carry?
The net debt of ZYNS.TO is $44.0B (fiscal year 2025, ≈ 4.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Sep 29, 2026