Is it a good company at a reasonable price? This is a small cap stock with problems. It seems like it is trying to solve their problems. Analysts are hopeful. This is a high risk because the company is small and it has problems. It is an interesting stock to follow. It would seem to be quite cheap at this point.
I do not own this stock of Sylogist Ltd (TSX-SYZ, OTC-SYZLF). I learned about this stock from the newsletter I subscribe to.
When I was updating my spreadsheet, I noticed their web site says that they have annual and quarterly reports, you cannot download them. So, we have a software company that cannot set up a web site properly. I got all the information for the spreadsheets from other sites. This is the second year in which I cannot download financials for the company using their site. I also notice that there has been a large shareholder called OneMove Capital pushing for change.
If you had invested in this company in December 2015, for $1,007.76 you would have bought 114 shares at $8.84 per share. In December 2025, after 10 years you would have received $350.55 in dividends. The stock would be worth $657.78. Your total return would have been $1,008.33. This would be a total return of 1.01% per year with 4.18% from capital loss and 4.19% from dividends.
| Cost | Tot. Cost | Shares | Years | Dividends | Stock Val | Tot Ret |
|---|---|---|---|---|---|---|
| $8.84 | $1,007.76 | 114 | 10 | $350.55 | $657.78 | $1,008.33 |
The current dividend yield is low with dividend growth negative. The current dividend yield is low (below 2% per year) at 1.08%. The 5 year median dividend yield is also low at 0.65%. The 10 year and historical median dividend yields are moderate (2% to 4% ranges) at 3.02% and 3.02%.
The Dividend Payout Ratios (DPR) are too high. The DPR for 2025 for Earnings per Share (EPS) is non-calculable due to negative EPS with 5 year coverage far too high at 933%. The DPR for 2025 for Adjusted Earnings per Share (AEPS) non-calculable due to negative AEPS with 5 year coverage too high at 90%. The DPR for 2025 for Cash Flow per Share (CFPS) is good at 29% with 5 year coverage too high at 51%. The DPR for 2025 for Free Cash Flow (FCF) is too high at 54% with 5 year coverage too high at 88%. There is no agreement on what the FCF is and it goes from a negative $0.11M to $1.74M. I am using the $1.74M.
| Item | Cur | 5 Years |
|---|---|---|
| EPS | -20.00% | 933.33% |
| AEPS | NC | 90.48% |
| CFPS | 28.56% | 51.48% |
| FCF | 53.79% | 87.57% |
Debt Ratios are mostly fine, but Liquidity Ratio needs to be improved. The Long Term Debt/Market Cap Ratio for 2025 is good at 0.14 and currently at 0.23. The Liquidity Ratio for 2025 is far too low at 0.82 and 0.76 currently. If you added in Cash Flow after dividends, the ratios are still far too low at 0.84 and currently at 0.73. The Debt Ratio for 2025 is good at 1.61 and 1.54 currently. The Leverage and Debt/Equity Ratios for 2025 are fine at 2.64 and 1.64 and currently at 2.86 and 1.86.
| Type | Year End | Ratio Curr |
|---|---|---|
| Lg Term R | 0.14 | 0.23 |
| Intang/GW | 0.46 | 0.67 |
| Liquidity | 0.82 | 0.76 |
| Liq. + CF | 0.84 | 0.73 |
| Debt Ratio | 1.61 | 1.54 |
| Leverage | 2.64 | 2.86 |
| D/E Ratio | 1.64 | 1.86 |
The Total Return per year is shown below for years of 5 to 27 to the end of 2025. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.
| From | Years | Div. Gth | Tot Ret | Cap Gain | Div. |
|---|---|---|---|---|---|
| 2020 | 5 | -37.95% | -11.13% | -13.33% | 2.20% |
| 2015 | 10 | -16.58% | 0.01% | -4.18% | 4.18% |
| 2010 | 15 | -3.08% | 14.14% | 6.23% | 7.90% |
| 2005 | 20 | 11.17% | 6.00% | 5.17% | |
| 2000 | 25 | 7.26% | 3.95% | 3.31% | |
| 1998 | 27 | 0.58% | -1.45% | 2.02% |
The 5-year low, median, and high median Price/Earnings per Share Ratios are 45.25, 76.39, and 98.61. The corresponding 10 year ratios are 24.24, 30.17 and 37.33. The corresponding historical ratios are 13.95, 19.50 and 23.66. The current ratio is negative because of earning losses. I can do not testing here.
I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 18.72, 32.09 and 45.45. The corresponding 10 year ratios are 20.40, 29.00 and 33.77. The corresponding historical ratios are 17.53, 23.48 and 31.65. The current ratio is negative because of earning losses. I unfortunately can do no testing here either.
I get a Graham Price of $1.14. The 10-year low, median, and high median Price/Graham Price Ratios are 2.15, 2.68 and 3.59. The current ratio is 3.24 based on a stock price $3.70. The current ratio is between the median and high ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median. However, you must wonder how good this test is because I had to sort of guess at some of the Graham Prices because of earning losses.
I get a 10-year median Price/Book Value per Share Ratio of 5.28. The current ratio is 3.19 based on a stock price of $3.70, Book Value of $27M and Book Value per Share of $1.16. The current ratio is 40% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.
I get a 10-year median Price/Cash Flow per Share Ratio of 17.48. However, the Cash Flow is negative and I can do no testing here.
I get an historical median dividend yield of 3.02%. The current ratio is 1.08% based on dividends of $0.04 and a stock price of $3.70. This dividend yield is 64% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive. This is not a good test because of decreasing dividends.
I get a 10 year median dividend yield of 3.02%. The current ratio is 1.08% based on dividends of $0.04 and a stock price of $3.70. This dividend yield is 64% below the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively expensive. This is not a good test because of decreasing dividends.
The 10-year median Price/Sales (Revenue) Ratio is 6.08. The current ratio is 1.42 based on Revenue estimate for 2026 of $60.6M, Revenue per Share of $2.60 and a stock price of $3.70. The current ratio is 77% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.
Results of stock price testing is that the stock price is probably cheap. The dividend yield tests are probably not valid tests but the P/S Ratio test is a good one and it says that the stock price is relatively cheap. The only other good test is the P/B Ratio test and it also says that the stock price is relatively cheap.
When I look at analysts’ recommendations, I find Strong Buy (2), Buy (1) and Hold (2). The current consensus is a Buy. The 12 month stock price consensus is $5.06 with a high of $6.00 and low of $3.75. The consensus stock price of $5.06 implies a total return of 37.84%, with 36.76% from capital gains and 1.08% from dividends based on a current stock price of $3.70.
This stock was liked by analysts on Stock Chase in 2025. There have been no further entries since May 2025. Aditya Raghunath on Motley Fool says it is down 79% from its all-time high and since the company’s transformation is nearly complete, and the upside could be enormous. The company put out a Press Release about their fourth quarter of 2025. The company put out a press release via Globe Newswire about their first quarter of 2026.
Simply Wall Street via Yahoo Finance and talks about the Independent Chairman of Sylogist Ltd buying stock. Simply Wall Street has two warnings on this stock of debt is not well covered by operating cash flow; and does not have a meaningful market cap (CA$87M).
OneMove Capital Calls for Urgent Change at Sylogist. This news release talks about board elections in 2026 with Board recommended directors and one board recommended dissident director elected. This notice fromSylogist talks about the appointment of a new CEO. See what Wolf of Oakville says.
Sylogist Ltd is a software company that provides software-as-a-service (SaaS) solutions that provides ERP, CRM, fundraising, education administration, and payments solutions to education verticals, including fund accounting, grant management, and payroll to public service organizations. The majority of the revenue comes from the United States of America. Its web site is here Sylogist Ltd.
The last stock I wrote about was about was Ensign Energy Services (TSX-ESI, OTC-ESVIF) ... learn more. The next stock I will write about will be Algonquin Power & Utilities Corp (TSX-AQN, NTSE-AQN) ... learn more on Wednesday, June 24, 2026 around 5 pm. Tomorrow on my other blog I will write about Marriages and Wage Gaps .... learn more on Tuesday, June 23, 2016 around 5 pm.
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