Fundamental analysis PBL.TO (Pollard Banknote Limited)

Updated on 09/16/2026

Method and analysis by Lubin Danilo, founder of Lubin Investment. Score computed automatically, with no human opinion.

We analyzed Pollard Banknote stock against the 10 quality criteria of Lubin Investment. The company gets a quality score of 4/10, meaning low quality, and a P/FCF valuation multiple of 18.5×.

Pollard Banknote fails part of our quality criteria without the price making up for it. Neither quality nor valuation argues in its favour today, according to our 10 hard criteria.

Sector: Gambling. Listing: TO. Current price: 16.65 CAD.

Lubin scoring methodology

Pollard Banknote Limited (PBL.TO)'s score is calculated automatically from 10 objective financial criteria, with no human intervention or opinion. Each criterion is validated (YES / PARTIAL / NO) based on thresholds drawn from the financial literature (Warren Buffett, Michael Mauboussin, Aswath Damodaran). The final score is the sum of validations.

The thresholds come from the financial literature, not from our preferences: see the valuation work of Aswath Damodaran (NYU Stern) and the SEC investor education resources (investor.gov).

The 10 quantitative criteria analyzed

1. Profitable: net margin > 5%
2. Growing revenue: revenue growing > 10%/year over 5 years
3. Growing earnings per share: FCF per share adjusted for stock-based compensation, > 10%/year over 5 years
4. Share count under control: stable or declining (net buybacks = value creation for shareholders)
5. Growing revenue per employee: revenue and revenue per employee both grow ≥ 10%/year over 5 years; partial when only one growth driver reaches its tier (fallback: free cash flow margin > 10% when employee history is unavailable)
6. Expanding margins: operating margin widens over 5 years (operating leverage)
7. Return on invested capital: Cash ROCE > 15% per year
8. Debt under control: net debt repayable in less than 3 years of free cash flow
9. Earnings converted to cash: free cash flow exceeds accounting net income
10. Net collection period: short or negative cash conversion cycle

Its price against peers

Against the 5 other Gambling stocks we have scored, Pollard Banknote trades at 18.5× its free cash flow, versus a median of 14.2× for that basket. On price alone, Pollard Banknote is therefore more expensive than its peers. That says nothing about its quality: at Lubin Investment, quality and price are judged separately, and a low multiple is only a bargain if the quality holds up.

Frequently asked questions

Is Pollard Banknote a quality stock?

Pollard Banknote gets a quality score of 4/10 (low quality), calculated over the 10 Lubin Investment criteria: profitability, revenue and free cash flow growth, share buybacks, margins, debt and return on capital.

How is Pollard Banknote's score calculated?

The score is the total of validated criteria (YES / PARTIAL / NO) using thresholds drawn from the financial literature (Warren Buffett, Mauboussin, Aswath Damodaran), automatically and with no human opinion.

What is Pollard Banknote's P/FCF?

The price-to-free-cash-flow (P/FCF) multiple of Pollard Banknote stock is 18.5×. At Lubin Investment, valuation is judged separately from quality.

Where to see Pollard Banknote's full analysis?

The full interactive analysis (10-criteria detail, history, P/FCF valuation, sector comparisons) is available at https://lubin-investment.com/analyse/PBL.TO?lng=en.

Other stocks in the Gambling sector

• ZEAL Network (TIMA.DE), score 10/10, P/FCF 15.1×
• Asia Pioneer Entertainment Holdings (8400.HK), score 10/10, P/FCF 10.7×
• Rush Street Interactive (RSI), score 9/10, P/FCF 47.5×
• The Rank Group (RNK.L), score 9/10, P/FCF 6.2×

Go further

👉 See the full interactive analysis of PBL.TO

Other resources : All stocks in the Gambling sector.