CELESTICA INC
CLSdata completeness 88%11 fiscal years on fileData notes: no data for concept 'interestExpense'
CELESTICA INC earns about 24% on invested capital, far above its ~9% cost of capital, and has bought back 8% of its shares over 5 years — the marks of a durable business run for its owners. The estimate methods put fair value between $21.8 and $160.64 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | $5.63B1 | $7.25B2 | $7.96B3 | $9.65B3 | $12.4B3 |
| Net income | $103.9M4 | $180.1M5 | $244.4M6 | $428M6 | $832.5M6 |
| Operating cash flow | $226.8M7 | $211.1M8 | $326.2M9 | $473.9M9 | $659.5M9 |
| Capital expenditure | — | $109M10 | $125.1M11 | $170.9M11 | $201.2M11 |
| Free cash flow (derived) | — | $102.1M8 | $201.1M9 | $303M9 | $458.3M9 |
| Total debt | $012 | — | — | — | — |
| Cash & equivalents | $394M13 | $374.5M14 | $370.4M15 | $423.3M16 | $595.6M16 |
| Diluted shares | 126.7M | 123.6M | 120.3M | 118.7M | 116.2M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $190.73 of net worth that earned you $71.64 and generated $39.44 of cash last year.
It earned about 24% on invested capital, year after year, against a ~9% cost of capital — the footprint of real pricing power. Competition usually drags returns like this back down; here it hasn't.
seeing a moat in the numbers →Share count is down 8% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $21.8 and $160.64 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth20.0%
- fcfBase$303M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth20.0%
- fcfBase$303M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$244.4M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $42.38 |
| Base | 20.0% | $90.14 |
| Bull | 20.0% | $90.14 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 20.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 20-F · period ending 2021-12-31 · accession 0001030894-24-000009 (RevenueFromContractsWithCustomers)
- 10-K · period ending 2022-12-31 · accession 0001030894-25-000014 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2023-12-31 · accession 0001030894-26-000011 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 20-F · period ending 2021-12-31 · accession 0001030894-24-000009 (ProfitLossAttributableToOwnersOfParent)
- 10-K · period ending 2022-12-31 · accession 0001030894-25-000014 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0001030894-26-000011 (NetIncomeLoss)
- 20-F · period ending 2021-12-31 · accession 0001030894-24-000009 (CashFlowsFromUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001030894-25-000014 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001030894-26-000011 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001030894-25-000014 (PaymentsToAcquireProductiveAssets)
- 10-K · period ending 2023-12-31 · accession 0001030894-26-000011 (PaymentsToAcquireProductiveAssets)
- 20-F · period ending 2021-12-31 · accession 0001030894-22-000008 (Borrowings)
- 10-K · period ending 2021-12-31 · accession 0001030894-25-000014 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
- 10-K · period ending 2022-12-31 · accession 0001030894-26-000011 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
- 10-K · period ending 2023-12-31 · accession 0001030894-25-000014 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2024-12-31 · accession 0001030894-26-000011 (CashAndCashEquivalentsAtCarryingValue)