Company Valuation: Pason Systems Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 951.2 1,300 1,286 1,083 932.7 1,106 - -
Change - 36.68% -1.05% -15.78% -13.91% 18.62% - -
Enterprise Value (EV) 1 799.1 1,133 1,128 1,018 883.1 1,026 980.2 922.1
Change - 41.81% -0.49% -9.71% -13.26% 16.21% -4.48% -5.93%
P/E 28.1x 12.3x 13.4x 8.95x 17.6x 17.2x 12.9x 11.8x
PBR - - - - - - - -
PEG - 0x -1.94x 0.3x -0.3x 0.8x 0.4x 1.26x
Capitalization / Revenue 4.6x 3.88x 3.48x 2.62x 2.22x 2.56x 2.38x 2.25x
EV / Revenue 3.87x 3.38x 3.05x 2.46x 2.11x 2.38x 2.11x 1.87x
EV / EBITDA 11x 7.1x 6.58x 6.29x 5.76x 6.36x 5.29x 4.62x
EV / EBIT - - - - - - - -
EV / FCF 14.6x 16.1x 11.6x 18.8x 13.9x 14x 10.4x 9.31x
FCF Yield 6.86% 6.21% 8.6% 5.31% 7.17% 7.16% 9.64% 10.7%
Dividend per Share 2 0.2 0.36 0.48 0.52 0.52 0.52 0.52 0.52
Rate of return 1.73% 2.26% 2.97% 3.82% 4.34% 3.65% 3.65% 3.65%
EPS 2 0.41 1.3 1.21 1.52 0.68 0.8267 1.107 1.21
Distribution rate 48.8% 27.7% 39.7% 34.2% 76.5% 62.9% 47% 43%
Net sales 1 206.7 335 369.3 414.1 419.3 431.7 463.9 492.5
EBITDA 1 72.52 159.5 171.5 161.8 153.4 161.4 185.1 199.6
EBIT 46.83 - - - - - - -
Net income 1 33.84 107.6 97.54 121.5 53.15 64.3 90.7 92.1
Net Debt 1 -152.1 -166.9 -158.8 -65.36 -49.61 -80.12 -126.1 -184.3
Reference price 2 11.54 15.94 16.17 13.61 11.99 14.25 14.25 14.25
Nbr of stocks (in thousands) 82,429 81,562 79,557 79,609 77,791 77,640 - -
Announcement Date 2/22/22 3/2/23 2/28/24 2/27/25 2/26/26 - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.03x2.16x9.89x2.41% 72.34B
19.47x2.33x13.17x1.65% 55.59B
14.79x2.02x8.81x5.03% 28.11B
22.34x2.44x12.04x0.29% 26.99B
13.25x1.41x7.7x2.14% 26.54B
32x5.35x20.88x0.89% 16.77B
13.17x1.21x5.17x3.74% 9.82B
27.23x0.51x4.39x3.83% 9.44B
21.09x0.79x6.88x2.06% 6.7B
Average 20.37x 2.02x 9.88x 2.45% 28.03B
Weighted average by Cap. 19.68x 2.21x 10.75x 2.27%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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