EQB Inc

Sound bite for Twitter is: Dividend Growth Financial. Results of stock price testing is that the stock price could still be reasonable. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are good. The current dividend yield is moderate with dividend growth good. See my spreadsheet on EQB Inc.

Is it a good company at a reasonable price? This bank has a good history of growth until this year. Analysts think growth will pick up again either this year or next year. My favourite stock tests of dividend yields and P/S Ratio says that the stock price is reasonable. However, all the other tests say it is expensive. The analysts that give this stock a Hold rating are probably right.

I do not own this stock of EQB Inc (TSX-EQB, OTC-EQGPF). I had read a glowing report on investing on this company in 2013, so I decided to check it out. It was interesting as it was loaning money to new immigrants, a class of people who generally have a difficult time getting loans and mortgages from our regular banks. It sounded intriguing.

When I was updating my spreadsheet, I noticed that they did not have a good year in 2025. Revenue went down and it has seldom done that. Adjusted Earnings per Share (AEPS) and EPS also went down. Generally speaking, the bank has had great growth in the past. Compare the growth to the end of October 2025 and to the end of October 2026. You can see the growth in AEPS and Net Income is down.

In the chart below, I am showing 5 and 10 year total growth and per year growth in columns 3 and 4 to the end of October 2025.

Yr	Item	Tot. Gwth	Per Year
5	Revenue Growth	127.06%	17.82%
5	AEPS Growth	79.35%	12.39%
5	Net Income Growth	93.19%	14.08%
5	Cash Flow Growth	-190.43%	N/C
5	Dividend Growth	185.25%	23.32%
5	Stock Price Growth	81.02%	12.60%
10	Revenue Growth	413.63%	17.78%
10	AEPS Growth	236.76%	12.91%
10	Net Income Growth	265.30%	13.83%
10	Cash Flow Growth	-387.66%	N/C
10	Dividend Growth	427.27%	18.09%
10	Stock Price Growth	201.42%	11.66%

In the chart below, I am showing 5 and 10 year total growth and per year growth in columns 3 and 4 to the end of October 2026.

Yr	Item	Tot. Gwth	Per Year
5	Revenue Growth	119.88%	17.07%
5	AEPS Growth	37.56%	6.59%
5	Net Income Growth	16.94%	3.18%
5	Cash Flow Growth	14.38%	2.72%
5	Dividend Growth	181.08%	22.96%
5	Stock Price Growth	105.72%	15.52%
10	Revenue Growth	351.51%	16.27%
10	AEPS Growth	129.98%	8.68%
10	Net Income Growth	103.77%	7.38%
10	Cash Flow Growth	52.50%	4.31%
10	Dividend Growth	462.16%	18.85%
10	Stock Price Growth	303.46%	14.97%

If you had invested in this company in December 2015, for $1,004.25 you would have bought 39 shares at $25.74 per share. In December 2025, after 10 years you would have received $374.99 in dividends. The stock would be worth $4,051.71. Your total return would have been $4,426.70. This would be a total return of 16.71% per year with 14.97% from capital gain and 1.74% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$25.75	$1,004.25	39	10	$374.99	$4,051.71	$4,426.70

The current dividend yield is moderate with dividend growth good. The current dividend yield is moderate (2% to 4% ranges) at 2.06%. The 5, 10 and historical dividend yields are low (below 2%) at 1.82%, 1.70% and 1.63%. The dividend growth is good (above 15% per year) at 23% per year over the past 5 years. The last dividend increase was in 2025 and it was for 3.64%. This bank rises the dividend at least several times in a year. The Dividends grow by 19.5% between 2024 and 2025.

The Dividend Payout Ratios (DPR) are good. The DPR for 2025 for Earnings per Share (EPS) is good at 31% with 5 year coverage at 17%. The DPR for 2025 for Adjusted Earnings per Share (AEPS) is good at 23% with 5 year coverage at 16%. The DPR for 2025 for Cash Flow per Share (CFPS) is good at 14% with 5 year coverage at 10%. The DPR for 2025 for Free Cash Flow (FCF) is good at 15% with 5 year coverage at 12%. I only have FCF from this bank and the value for 2025 is $555.31M.

Item	Cur	5 Years
EPS	31.28%	17.20%
AEPS	23.37%	15.51%
CFPS	14.43%	10.08%
FCF	14.77%	11.73%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2025 is relatively high at 12.24 and currently at 11.60, but not high for a bank. However, we need also to look at the Long Term Debt/Covering Assets Ratio for 2025 which is good at 0.91 and currently at 0.90 because this is a more important ratio for a bank. The Liquidity Ratio for 2025 is good at 3.74 and 2.65 currently. The Debt Ratio for 2025 is fine for a bank at 1.06 and 1.06 currently. The Leverage Ratios for 2025 are fine at 5.3% and currently at 5.3%.

Type	Year End	Ratio Curr
Lg Term A	0.91	0.90
Lg Term R	12.24	11.60
Intang/GW	0.06	0.03
Liquidity	3.74	2.65
Liq. + CF	4.28	4.28
Debt Ratio	1.06	1.06
Bk Leverage	5.3%	5.3%

The Total Return per year is shown below for years of 5 to 22 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	22.96%	17.58%	15.52%	2.06%
2015	10	18.85%	16.76%	14.97%	1.79%
2010	15	16.90%	16.95%	15.17%	1.78%
2005	20	13.86%	12.62%	11.26%	1.36%
2003	22	10.83%	11.71%	10.48%	1.23%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 6.11, 8.59 and 10.72. The corresponding 10 year ratios are 5.43, 6.97 and 9.32. The corresponding historical ratios are 5.69, 7.05 and 9.32. The current ratio is 14.46 based on a stock price of $110.48 and EPS estimate for 2026 of 7.64. The current ratio is above the high ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 6.17,8.07 and 9.97. The corresponding 10 year ratios are 5.09, 6.90 and 8.98. The corresponding historical ratios are 5.23, 47.06 and 8.67. The current ratio is 11.73 based on a stock price of $110.48 and AEPS estimate for 2026 of $9.42. The current ratio is above the high ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I get a Graham Price of $131.45. The 10-year low, median, and high median Price/Graham Price Ratios are 0.40, 0.54 and 0.70. The current P/GP Ratio is 0.84 based on a stock price of $110.48. The current ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I get a 10-year median Price/Book Value per Share Ratio of 0.99. The current ratio is 1.36 based on a Book Value of $3,064M, Book Value per Share of $81.52 and a stock price of $110.48. The current ratio is 37% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I also have a Book Value per Share estimate for 2026 of $85.82. This implies a ratio of 1.29 based on a stock price of $110.48 and Book Value of $85.82. This ratio is 30% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I get a 10-year median Price/Cash Flow per Share Ratio of 3.72. The current ratio is 11.16 based on Cash Flow for the last 12 months of $371.9M, Cash Flow per Share of $9.90 and a stock price of $110.48. The current ratio is 200% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I get an historical median dividend yield of 1.65%. The current dividend yield is 2.06 based on dividends of $2.28 and a stock price of $110.84. The current dividend yield is 25% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get a 10 year median dividend yield of 1.77%. The current dividend yield is 2.06 based on dividends of $2.28 and a stock price of $110.84. The current dividend yield is 17% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable and below the median.

The 10-year median Price/Sales (Revenue) Ratio is 3.19. The current ratio is 3.31 based on Revenue estimate for 2026 of $1,256M, Revenue per Share of $33.43 and a stock price of $110.48. The current ratio is 4% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median.

Results of stock price testing is that the stock price could still be reasonable. The dividend yield tests say it is reasonable and below the median. The P/S Ratio test says it is reasonable but above the median (but by only 4%). However, all the other tests are saying the stock price is expensive. Caution is advised.

When I look at analysts’ recommendations, I find Strong Buy (2), Buy (2), Hold (5) and Underperform (1). The consensus would be a Buy. The consensus would be a Buy. The 12 month stock price consensus is $107.22 with a high of $130.00 and a low of $91.00. The consensus stock price of $107.22 implies a total loss of 0.89% with a capital loss of 2.95% and dividends of 2.06% based on a current stock price of $110.48.

The last 5 analysts’ comments on Stock Chase are Do Not Buy, Sell, and Hold. Thoughts are high valuation and Provision for Credit Losses (PDL) higher than expected. Amy Legate-Wolfe on Motley Fool reviews this stock. She is worried about credit losses if Canada’s economy weakens. She thinks it is a positive if the bank partners with Loblaws for PC Financial. Andrew Button on Motley Fool thinks EQB is a dividend stock worth looking into. The company put out a Press Release about their fourth quarter results for 2025.

Simply Wall Street via Yahoo Finance reviews this stock and talks about those who invested 5 years ago are up 117%. Simply Wall Street has one risk of profit margins (22.8%) are lower than last year (33.9%).

EQB Inc operates through its wholly owned subsidiary, Equitable Bank, Canada's Challenger BankTM. It serves Canadians through two business lines, Personal Banking and Business Banking. Its web site is here EQB Inc.

The last stock I wrote about was about was Richelieu Hardware Ltd (TSX-RCH, OTC-RHUHF) ... learn more. The next stock I will write about will be AGF Management Ltd (TSX-AGF.B, OTC-AGFMF) ... learn more on Friday, February 6, 2026 around 5 pm. Tomorrow on my other blog I will write about Something to Buy February 2026.... learn more on Thursday, February 5, 2026 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Richelieu Hardware Ltd

Sound bite for Twitter is: Dividend Growth Consumer. Results of stock price testing is that the stock price is probably cheap. Debt Ratios are very good. The Dividend Payout Ratios (DPR) are good. The current dividend yield is low with dividend growth good. See my spreadsheet on Richelieu Hardware Ltd.

Is it a good company at a reasonable price? I note that there are few analysts following this stock and the 2 analysts following it, they both give it a Hold rating. Simply Wall Street says it is overpriced. If you like this stock, maybe now is a good time to buy. On the other had the ratios are rather high. For example, the P/B Ratio is 1.47 where a good ratio is considered to be 1.50. It is always best to buy a stock a number of times over a few years and in different months. My testing is saying that it is relatively cheap.

I own this stock of Richelieu Hardware Ltd (TSX-RCH, OTC-RHUHF). I initially bought this stock in 2007 because it was recommended by the Investment Reporter. It is not on any of the dividend lists, probably because they only started to pay dividends in 2000, they are a rather small company and they did not increase dividends in 2009. This stock would be considered to be a dividend paying growth stock. In 2009, I thought I would add to what I had in this stock. This stock has been much recommended by MPL Communications.

This stock started to appear on the Money Sense 100 Best Dividend list for 2020. It has made the list every year after that. For 2026 it has a rating of B.

When I was updating my spreadsheet, I noticed I have had this stock for almost 17 years and to the end of December 2025 I have earnings a total return of 13.41% per year with 11.54% from capital gains and 1.87% from dividends. The dividend yield might be low but they have had good dividend increases. On my original purchase price, I am getting a dividend yield of 10.9%. Dividend yields on this stock is generally low and below 2%.

During the past year, all the officers I am following, including the CEO and CFO bought more shares in the company. They bought the stock at $37.00 and $38.00. None of the directors I follow bought more shares. But it is quite typical that directors generally do not buy shares.

If you had invested in this company in December 2015, for $1,017.90 you would have bought 45 shares at $22.62 per share. In December 2025, after 10 years you would have received $171.59 in dividends. The stock would be worth $1,780.20. Your total return would have been $1,951.79. This would be a total return of 6.98% per year with 5.75% from capital gain and 1.23% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$22.62	$1,017.90	45	10	$171.59	$1,780.20	$1,951.79

The current dividend yield is low with dividend growth good. The current dividend yield is low (below 2%) at 1.46%. The 5, 10 and historical dividend yields are low at 1.42%, 0.99% and 1.15%. The dividend growth is good (15% per year or higher) at 25.1% per year over the past 5 years. There have been some big increases in the past 5 years, but the last increase was in 2025 and it was for 2.2%. Also, note that 5 years ago, the company only paid 3 dividends, so increases may not be as good as they appear. The dividend increases for the past 10 years is at 12% per year, which is at a moderate rate (8% to 14% per year).

The Dividend Payout Ratios (DPR) are good. The DPR for 2025 for Earnings per Share (EPS) is good at 40% with 5 year coverage at 25%. The DPR for 2025 for Cash Flow per Share (CFPS) is good at 19% with 5 year coverage at 16%. The DPR for 2025 for Free Cash Flow (FCF) is good at 34% with 5 year coverage at 40%. There are two values for FCF of $187.20 and $100.67 and I am using the $100.67.

Item	Cur	5 Years
EPS	39.56%	25.38%
CFPS	18.66%	15.78%
FCF	33.66%	39.99%

Debt Ratios are very good. The Long Term Debt/Market Cap Ratio for 2025 is good at 0.00 and currently at 0.00. The long term debt is so low it does not register. The Liquidity Ratio for 2025 is good at 3.29 and 3.29 currently. The Debt Ratio for 2025 is good at 3.01 and 3.01 currently. The Leverage and Debt/Equity Ratios for 2025 are good at 1.50 and 0.50 and currently at 1.50 and 0.50.

Type	Year End	Ratio Curr
Lg Term R	0.00	0.00
Intang/GW	0.10	0.10
Liquidity	3.29	3.29
Liq. + CF	3.91	3.91
Debt Ratio	3.01	3.01
Leverage	1.50	1.50
D/E Ratio	0.50	0.50

The Total Return per year is shown below for years of 5 to 32 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	25.10%	5.16%	3.67%	1.50%
2015	10	11.86%	6.98%	5.75%	1.23%
2010	15	11.49%	10.91%	9.47%	1.45%
2005	20	11.73%	9.66%	8.39%	1.27%
2000	25	13.03%	13.78%	12.07%	1.72%
1995	30		16.02%	14.23%	1.79%
1993	32		14.83%	13.34%	1.49%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 17.88,20.48 and 23.08. The corresponding 10 year ratios are 18.66, 21.60 and 26.19. The corresponding historical ratios are 13.06, 15.82 and 18.34. The current ratio is 23.01 based on a stock price of $40.72 and EPS estimate for 2026 of $1.77. The current ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a Graham Price of $25.62. The 10-year low, median, and high median Price/Graham Price Ratios are 1.33, 1.61 and 1.91. The current ratio is 1.59 based on a stock price of $40.72. This ratio is between the low and median ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10-year median Price/Book Value per Share Ratio of 2.97. The current ratio is 2.47 based on a Book Value of $904.9M, Book Value per Share of $16.48 and a stock price of $40.72. The current ratio is 17% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I also have Book Value per Share estimate for 2026 of $18.39. This implies a ratio of 2.21 with a stock price of $40.72 and a Book Value of $1009.8M. This ratio is 26% 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 16.05. The current ratio is 11.05 based on Cash Flow for the last 12 months of $202.4M, Cash Flow per Share of $3.69 and a stock price of $40.72. The current ratio is 31% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get an historical median dividend yield of 1.15%. The current dividend yield is 1.54% based on dividends of $0.6264 and a stock price of $40.72. The current dividend yield is 34% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get a 10 year median dividend yield of 0.99%. The current dividend yield is 1.54% based on dividends of $0.6264 and a stock price of $40.72. The current dividend yield is 55% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

The 10-year median Price/Sales (Revenue) Ratio is 1.40. The current P/S Ratio is 1.07 based on Revenue estimate for 2026 of $2,084M, Revenue per Share of $37.95 and a stock price of $40.72. The current ratio is 23% 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 say that the stock price is relatively cheap. It is confirmed by the P/S Ratio test. The other tests run from cheap to reasonable. However, the ratios are on the high side. The 10 year median P/GP Ratios are between 1.33 and 1.91, but good ratios are expected to be from around 0.85 to 1.20. The 10 year median P/B Ratio is 2.97 where a good ratio is considered to be around 1.50.

When I look at analysts’ recommendations, I find only Hold (2). The consensus would be a Hold. The 12 month stock price consensus is $40.50 with a high of $41.00 and a low of $40.00. The consensus stock price of $40.50 implies a total return of 1% with a 0.54% capital loss and dividends of 1.54% based on a current stock price of $40.72.

In 2024 on Stock Chase same liked this stock and some did not. There is only one entry in 2025 and it is a Partial Buy by analysts who thinks there was a good entry point at $42.11. Amy Legate-Wolfe on Motley Fool says Richelieu Hardware is an quietly exceptional Canadian stock that rarely makes headlines but consistently delivers the kind of performance long-term investors love. Jitendra Parashar on Motley Fool says on October 10, 2025 that shares of Richelieu Hardware (TSX:RCH) jumped 4.5% to $34.28 apiece after it reported solid quarterly earnings and strong acquisition-driven growth. The company put out a press release via Newswire about their fourth quarter results for 2025.

Simply Wall Street via Yahoo Finance reviews this stock and thinks it is overvalued at $41.96.

Richelieu Hardware Ltd is a Canada-based company that imports, manufactures, and distributes specialty hardware and complementary products. Headquartered in Montreal, the company operates across Canada and the eastern and midwestern regions of the United States. The majority of the company's sales are derived from its operations in Canada. Its web site is here Richelieu Hardware Ltd.

The last stock I wrote about was about was Cogeco Communications Inc (TSX-CCA, OTC-CGEAF) ... learn more. The next stock I will write about will be EQB Inc (TSX-EQB, OTC-EQGPF) ... learn more on Wednesday, February 4, 2026 around 5 pm. Tomorrow on my other blog I will write about Dividend Stocks February 2026 … learn more on Tuesday, February 3, 2026 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Cogeco Communications Inc

Sound bite for Twitter is: Dividend Growth Telcom. Results of stock price testing is that the stock price is probably cheap. Debt Ratios are need improving and debt is too high. The Dividend Payout Ratios (DPR) are good. The current dividend yield is good with dividend growth moderate. See my spreadsheet on Cogeco Communications Inc.

Is it a good company at a reasonable price? Personally, I would be worried about the debt of this company. Also, I would like to see the DPR go down. It reached its highest level in 2025, but analysts expect it to start going down in 2026. If you like to own this stock, it is, of course, best to buy when it is cheap. Currently this stock is cheap.

I do not own this stock of Cogeco Communications Inc (TSX-CCA, OTC-CGEAF). This stock was on the Money Sense list when I was looking for a new stock to follow.

When I was updating my spreadsheet, I noticed that the stock is quite volatile. It hit high of around $122.00 in July of 2021 and the stock is down 40% from there. Last year it had a low of around $51.00 and a high around $74.00, an 45% difference. This year there is a low around $60.00 and a high around $73.00 for an 22% change.

If you had invested in this company in December 2015, for $1,050.09 you would have bought 17 shares at $61.77 per share. In December 2025, after 10 years you would have received $428.20 in dividends. The stock would be worth $1,129.99. Your total return would have been $1,558.19. This would be a total return of 4.55% per year with 0.74% from capital gain and 3.82% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$61.77	$1,050.09	17	10	$428.20	$1,129.99	$1,558.19

The current dividend yield is good with dividend growth moderate. The current dividend yield is good (5% to 6% ranges) at 5.99%. The 5 and 10 year median dividend yields are moderate (2% to 4% ranges) at 4.35% and 2.45%. The historical dividend yield is low (below 2%) at 1.86%. I have 28 years of dividend data. The dividends were low until 2011. They were then moderate until 2023. It is only from 2024 the dividend yields go in the good range. The dividend increases are moderate (8% to 14% ranges) at 9.7% per year over the past 5 years. The last dividend increase occurred in 2025 and it was for 7.1%. This is a low increase (below 8%).

The Dividend Payout Ratios (DPR) are good. The DPR for 2025 for Earnings per Share (EPS) is good at 48% with 5 year coverage at 37%. The DPR for 2025 for Adjusted Earnings per Share (AEPS) is good at 46% with 5 year coverage at 35%. The DPR for 2025 for Cash Flow per Share (CFPS) is good at 11% with 5 year coverage at 10%. The DPR for 2025 for Free Cash Flow (FCF) is good at 29% with 5 year coverage at 30%. The company put out a FCF value for 2025 of $517.2M and Market Screener estimates agrees with this.

Item	Cur	5 Years
EPS	48.53%	37.41%
AEPS	46.45%	34.88%
CFPS	11.08%	10.19%
FCF	29.92%	29.69%

Debt Ratios need improving and debt is too high. The Long Term Debt/Market Cap Ratio for 2025 is far too high at 1.61 and currently at 1.57. The Liquidity Ratio for 2025 is too low at 0.65 and 0.40 currently. If you added in Cash Flow after dividends, the ratios are fine at 1.78 and currently at 1.73. The Debt Ratio for 2025 is good at 1.68 and 1.68 currently. The Leverage and Debt/Equity Ratios for 2025 are too high at 3.07 and fine at 1.90 and currently at 3.04 and 1.87.

Type	Year End	Ratio Curr
Lg Term R	1.61	1.57
Intang/GW	2.13	2.16
Liquidity	0.65	0.40
Liq. + CF	1.78	1.73
Debt Ratio	1.61	1.62
Leverage	3.07	3.04
D/E Ratio	1.90	1.87

The Total Return per year is shown below for years of 5 to 32 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	9.71%	-3.85%	-7.58%	3.80%
2015	10	10.17%	4.55%	0.74%	3.74%
2010	15	13.39%	6.83%	3.27%	3.52%
2005	20	21.50%	8.25%	5.12%	2.87%
2000	25	11.55%	4.76%	2.69%	1.99%
1995	30	10.25%	9.63%	6.99%	2.74%
1993	32		7.86%	5.71%	2.22%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 7.90, 8.86 and 9.82. The corresponding 10 year ratios are 8.47, 10.54 and 12.83. The corresponding historical ratios are 9.17, 11.32 and 13.56. The current ratio is 7.58 based on a stock price of $65.90 and an EPS estimate for 2026 of $8.69. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I also have Adjusted Earning per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 7.57, 8.48 and 9.40. The corresponding 10 year ratios are 8.54, 10.47 and 12.41. The corresponding historical ratios are 9.87, 12.39 and 14.02. The current ratio is 7.57 based on a stock price of $65.90 and an EPS estimate for 2026 of $8.70. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a Graham Price of $122.64. The 10-year low, median, and high median Price/Graham Price Ratios are 0.77, 0.99 and 1.17. The current ratio is 0.54 based on a stock price of $65.90. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Book Value per Share Ratio of 1.94. The current ratio is 0.86 based on a stock price of $65.90, Book Value of $3,226M, and Book Value per Share of $76.84. The current ratio is 56% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I also have a Book Value per Share estimate for 2026 of $93.16. This implies a ratio of 0.71 with a book value of $3,911.6M and a stock price of $65.90. This ratio is 64% 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 4.16. The current ratio is 2.56 based on Cash Flow estimate for 2026 of $25.73, Cash Flow of $1,080.3M and a stock price of $65.90. The current ratio is 38% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get an historical median dividend yield of 1.86%. The current dividend yield is 5.99% based on dividends of $3.948 and a stock price of $65.90. The current dividend yield is 222% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get a 10 year median dividend yield of 2.45%. The current dividend yield is 5.99% based on dividends of $3.948 and a stock price of $65.90. The current dividend yield is 144% above the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

The 10-year median Price/Sales (Revenue) Ratio is 1.60. The current ratio is 0.98 based on a stock price of $65.90, Revenue estimate for 2026 of $2,822M, and Revenue per Share of $67.21. The current ratio is 39% 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 say that the stock price is relatively cheap. This is confirmed by the P/S Ratio test. All the rest of the tests say that the stock price is relatively cheap.

When I look at analysts’ recommendations, I find Strong Buy (3), Buy (1), Hold (6) and Underperform (1). The consensus would be a Buy. The 12 month stock price consensus is $75.66 with a high of 100.00 and low of $67.00. The 12 month consensus stock price of $75.66 implies a total return of 20.80% with 14.81% from capital gains and 5.99% from dividends based on a current stock price of $65.90.

There are a few entries for this stock on Stock Chase in 2025. There are a couple of buys and a Hold. The Hold analysts is worried about the debt and feels that the company has to find a way to paying it down while growing the company. Puja Tayal on Motley Fool thinks this a good buy because she believes it has a safety net of assured dividend growth for the next two years. Christopher Liew on Motley Fool says this stock is price-friendly with income generation . The company put out a Press Release about their 2025 annual results. The company put out a Press Release about their first quarter of 2026 results.

Simply Wall Street via Yahoo Finance reviews this stock. They talk about Caisse de dépôt et placement du Québec recently moved to sell a block of Cogeco Communications Inc. subordinate voting shares, representing nearly 11% of the company’s issued and outstanding subordinate shares. They said eight fair values estimates span from $35.00 to $236.00 and this shows how widely views can differ.

Simply Wall Street via Yahoo Finance reviews this stock. I do not see any real answers to why the stock went so high in 2021 and has fallen ever since. Simply Wall Street has one warning of Interest payments are not well covered by earnings.

Cogeco Communications is a telecom service provider in Canada and the US, specifically in rural and suburban geographies. It offers wireline services such as broadband internet, TV, and landline phone services. It operates in Canada and in US throughout the East Coast, Pennsylvania, and Ohio. Its web site is here Cogeco Communications Inc.

The last stock I wrote about was about was Exco Technologies Ltd (TSX-XTC, OTC-EXCOF) ... learn more. The next stock I will write about will be Richelieu Hardware Ltd (TSX-RCH, OTC-RHUHF) ... learn more on Monday, February 2, 2026 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Exco Technologies Ltd

Sound bite for Twitter is: Dividend Paying Industrial. Results of stock price testing is that the stock price is probably cheap. Debt Ratios are very good. The Dividend Payout Ratios (DPR) should be improved. The current dividend yield is good with dividend growth has stopped. See my spreadsheet on Exco Technologies Ltd .

Is it a good company at a reasonable price? With this company, income growth seems to have been the problem. Analysts think that income will growth this year. I also noted that the CEO has bought shares in the past year. It is a small company that is currently cheap, so if you are interested in the company, caution is advised.

I do not own this stock of Exco Technologies Ltd (TSX-XTC, OTC-EXCOF). This is a stock given as a recommendation by Keystone at the Toronto Money Show of 2012. I decided to check into it as it is a small tech company that is paying dividends. Also, I decided to review this stock because Keystone has recommended some very good stocks in the past.

When I was updating my spreadsheet, I noticed earnings are down this year because revenue is down this year and there is a higher percentage for cost against revenue. I get an expense ratio of 0.95 for 2025. The 10 year median ratio is 0.93 with the 5 year median ratio at 0.94. This company hit a high stock price of $11.44 in 2021 and the stock price is down by 39% since then. EPS has been going down since 2021. I also noticed that over the past year both the CEO and one Director bought more shares.

In the chart below, I am showing 5 and 10 year total growth and per year growth in columns 3 and 4. Column 5 shows growth expected over 12 months to the first quarter in 2025 and expected growth over this year. As you can see from the chart below, income has not been growing over the past 5 and 10 years. Analysts expect income to grow this year. Also note that Revenue hit a low point 5 years ago.

Yr	Item	Tot. Gwth	Per Year	Gwth	Coverage
5	Revenue Growth	49.22%	8.33%	1.12%	<-12 mths
5	AEPS Growth	-8.70%	-1.80%	6.35%	<-12 mths
5	Net Income Growth	-11.42%	-2.40%	6.26%	<-12 mths
5	Cash Flow Growth	2.21%	0.44%
5	Dividend Growth	12.00%	2.29%	0.00%	<-12 mths
5	Stock Price Growth	1.82%	0.36%	3.88%	<-12 mths
10	Revenue Growth	23.47%	2.13%	4.05%	<-this year
10	AEPS Growth	-34.38%	-4.12%	42.86%	<-this year
10	Net Income Growth	-40.40%	-5.04%	42.15%	<-this year
10	Cash Flow Growth	59.68%	4.79%		<-this year
10	Dividend Growth	82.61%	6.21%	0.00%	<-this year
10	Stock Price Growth	-53.92%	-7.46%	19.40%	<-this year

If you had invested in this company in December 2015, for $1,015.20 you would have bought 60 shares at $16.92 per share. In December 2025, after 10 years you would have received $222.90 in dividends. The stock would be worth $412.50. Your total return would have been $635.10. This would be a total loss of 5.24% per year with 8.62% from capital loss and 3.38% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$16.92	$1,015.20	60	10	$222.90	$412.20	$635.10

The current dividend yield is good with dividend growth has stopped. The current dividend yield is good (5% to 6%) at 6.03%. The 5 year median dividend yield is good at 5.31%. The 10 year and historical median dividend yields are moderate (2% to 4%) at 4.48% and 3.16%. The dividend growth has stopped as there has been not dividend increases since 2022 when there was a dividend increase of 5%.

The Dividend Payout Ratios (DPR) should be improved. The DPR for 2025 for Earnings per Share (EPS) is on the high side at 67% with 5 year coverage at 58%. The DPR for 2025 for Adjusted Earnings per Share (AEPS) is good at 67% with 5 year coverage at 58%. The DPR for 2025 for Cash Flow per Share (CFPS) is non-calculable because of negative cash flows. The DPR for 2025 for Free Cash Flow (FCF) is good at 40% with 5 year coverage at 46%.

Item	Cur	5 Years
EPS	66.67%	58.47%
AEPS	66.67%	58.47%
CFPS	-4.86%	-98.45%
FCF	39.50%	45.71%

Debt Ratios are very good. The Long Term Debt/Market Cap Ratio for 2025 is good at 0.35 and currently at 0.36. The Liquidity Ratio for 2025 is good at 2.70 and 2.70 currently. The Debt Ratio for 2025 is good at 2.97 and 2.97 currently. The Leverage and Debt/Equity Ratios for 2025 are good at 1.51 and 0.51 and currently at 1.51 and 0.51.

Type	Year End	Ratio Curr
Lg Term R	0.35	0.36
Intang/GW	0.49	0.48
Liquidity	2.70	2.70
Liq. + CF	3.24	3.24
Debt Ratio	2.97	2.97
Leverage	1.51	1.51
D/E Ratio	0.51	0.51

The Total Return per year is shown below for years of 5 to 35 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	2.29%	-0.70%	-5.73%	5.04%
2015	10	6.21%	-5.24%	-8.62%	3.38%
2010	15	11.93%	9.66%	4.12%	5.55%
2005	20	11.23%	6.11%	2.31%	3.80%
2000	25	10.16%	6.69%	3.37%	3.32%
1995	30		5.40%	2.85%	2.55%
1990	35		11.34%	8.10%	3.24%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 9.21, 11.16 and 13.09. The corresponding 10 year ratios are 8.97, 10.60 and 12.88. The corresponding historical ratios are 8.97, 11.73 and 15.34. The current ratio is 7.73 based on a stock price of $6.96 and EPS estimate for 2026 of $0.90. The current ratio is below the 10 year median ratios. This stock price testing suggests that the stock price is cheap.

I also have Adjusted Earnings per Share (AEPS) Data. They have occasionally given an AEPS. The 5-year low, median, and high median Price/Earnings per Share Ratios are 9.21, 11.16 and 13.09. The corresponding 10 year ratios are 8.82, 10.43 and 12.71. The corresponding historical ratios are 8.44, 9.89 and 12.27. The current ratio is 7.73 based on a stock price of $6.96 and EPS estimate for 2026 of $0.90. The current ratio is below the 10 year median ratios. This stock price testing suggests that the stock price is cheap.

I get a Graham Price of $14.73. The 10-year low, median, and high median Price/Graham Price Ratios are 0.56, 0.69 and 0.80. The current P/GP Ratio is 0.47 based on a stock price of $6.96. The current ratio is below the 10 year median ratios. This stock price testing suggests that the stock price is cheap.

I get a 10-year median Price/Book Value per Share Ratio of 1.02. The current ratio is 0.65 based on a Book Value of $407M, Book Value per Share of $10.71 and a stock price of $6.96. The current ratio is 36% below the 10 year median ratio. This stock price testing suggests that the stock price is cheap. A ratio of 0.65 is a very low ratio. A normal ratio is considered to be around 1.50.

I get a 10-year median Price/Cash Flow per Share Ratio of 5.76. The current ratio is 4.02 based on Cash Flow for the last 12 months of $65.8M, Cash Flow per Share of $1.73 and a stock price of $6.96. The current ratio is 30% below the 10 year median ratio. This stock price testing suggests that the stock price is cheap.

I get an historical median dividend yield of 3.16%. The current dividend yield is 6.03% based on dividends of $0.42 and a stock price of $6.96. The current dividend yield is 91% above the historical median dividend yield. This stock price testing suggests that the stock price is cheap. Although this test is better when dividends are increasing and dividend stopped increasing in 2022.

I get a 10 year median dividend yield of 4.48%. The current dividend yield is 6.03% based on dividends of $0.42 and a stock price of $6.96. The current dividend yield is 35% above the historical median dividend yield. This stock price testing suggests that the stock price is cheap. Although this test is better when dividends are increasing and dividend stopped increasing in 2022.

The 10-year median Price/Sales (Revenue) Ratio is 0.60. The current P/S Ratio is 0.41 based on Revenue estimate for 2026 of $640.2M, Revenue per Share of $16.83 and a stock price of $6.96. The current ratio is 31% below the 10 year median ratio. This stock price testing suggests that the stock price is cheap.

Results of stock price testing is that the stock price is probably cheap. The dividend yield tests say this and it is confirmed by the P/S Ratio test. The thing is that all the tests are saying the stock price is cheap.

When I look at analysts’ recommendations, I find one Buy (1) recommendation. The consensus would be a Buy. The 12 month stock price is $8.00 with a high of $8.00 and low of $8.00. There is just one analyst following this stock. A 12 month stock price of $8.00 implies a total return of 20.98% with 14.94% from capital gains and 6.03% from dividends based on a current stock price of $6.96.

There are few analysts on Stock Chase following this stock. The last comments were in 2024 where the analyst said there are some headwinds in the space. He also said that the company is in a cyclical business. Adam Othman on Motley Fool in December 2024 said the company offered healthy dividends and solid yields. The company put out a Press Release about their fourth quarter of 2025 results.

Simply Wall Street via Yahoo Finance put out a rather negative report on this company in January 2026. Their conclusion is Exco Technologies has been investing more capital into the business, but returns on that capital haven't increased. Simply Wall Street has one warning of earnings have declined by 4.2% per year over past 5 years.

Exco Technologies Ltd is a designer, developer, and manufacturer of dies, moulds, components and assemblies, and consumable equipment for the die-cast, extrusion, and automotive industries. The company reports in two business segments namely, the Casting and Extrusion segment and Automotive Solutions segment. Geographically, it derives a majority of its revenue from the United States and also has its presence in Canada, Europe, Asia, and other regions. Its web site is here Exco Technologies Ltd .

The last stock I wrote about was about was Enghouse Systems Ltd (TSX-ENGH, OTC-EGHSF) ... learn more. The next stock I will write about will be Cogeco Communications Inc (TSX-CCA, OTC-CGEAF) ... learn more on Friday, January 30, 2026 around 5 pm. Tomorrow on my other blog I will write about Cashback Credit Cards.... learn more on Thursday, January 29, 2026 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Enghouse Systems Ltd

Sound bite for Twitter is: Dividend Growth Tech. Results of stock price testing is that the stock price is testing as relatively cheap. Debt Ratios are good. The Dividend Payout Ratios (DPR) are generally too high. The current dividend yield is good with dividend growth good. See my spreadsheet on Enghouse Systems Ltd.

Is it a good company at a reasonable price? This company hit of stock price of $66.11 in 2020 and it has been declining since and now is down some 72%. The thing is that as a Tech stock, this stock used to have high ratios. The stock ratios have fallen a lot further than say Revenue, Earnings and Cash Flow. Analyst expect the company to do better in 2026, but I do understand their Hold rating. Google AI says a post-pandemic slump in demand for its video/remote work tools is one reason for the recent decline. That is interesting. The stock price is cheap, but just because a stock is cheap does not make it a good buy.

I do not own this stock of Enghouse Systems Ltd (TSX-ENGH, OTC-EGHSF). This stock has been recommended by Keystone Financial Publishing as a good Small Cap tech stock with dividend.

When I was updating my spreadsheet, I noticed Revenue has gone down in 2025 as well as earnings. I see expenses of Direct Costs and Operation Expenses ratio is up. The 10 year expense ratio median is 0.72 and 5 year median is 0.73. In 2025 that ratio is 0.77. I also noticed that the Revenue estimates are lower than last year. Last year the estimates for 2026 and 2027 were $561M and $600M. This year, the Revenue estimates for 2026 and 2027 are $506M and $538M.

In the chart below, I am showing 5 and 10 year total growth and per year growth in columns 3 and 4. Column 5 shows growth expected over 12 months to the first quarter in 2025 and expected growth over this year. You can see that 5 year growth is down except for dividends.

Yr	Item	Tot. Gwth	Per Year	Gwth	Coverage
5	Revenue Growth	-0.97%	-0.20%	0.14%	<-12 mths
5	EPS Growth	-24.29%	-5.41%	-2.24%	<-12 mths
5	Net Income Growth	-25.28%	-5.66%	-0.27%	<-12 mths
5	Cash Flow Growth	-21.45%	-4.71%
5	Dividend Growth	128.57%	17.98%	7.14%	<-12 mths
5	Stock Price Growth	-68.52%	-20.64%	-10.57%	<-12 mths
10	Revenue Growth	78.61%	5.97%	1.43%	<-this year
10	EPS Growth	129.06%	8.64%	12.54%	<-this year
10	Net Income Growth	134.38%	8.89%	15.15%	<-this year
10	Cash Flow Growth	161.58%	10.09%
10	Dividend Growth	409.09%	17.67%	10.71%	<-this year
10	Stock Price Growth	-43.27%	-5.51%	54.97%	<-this year

If you had invested in this company in December 2015, for $1,003.59 you would have bought 27 shares at $37.17 per share. In December 2025, after 10 years you would have received $201.42 in dividends. The stock would be worth $549.72. Your total return would have been $751.14 per year. This would be a total loss of 3.11% per year with 5.84% from capital loss and 2.73% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$37.17	$1,003.59	27	10	$201.42	$549.72	$751.14

The current dividend yield is good with dividend growth good. The current dividend yield is good (5% to 6% ranges) at 6.18%. The 5, 10 and historical dividend yields are low (below 2%) at 1.89, 1.10% and 1.36%. The dividend increases are good (above 15% per year) at 18% per year over the past 5 years. Note that the low dividend yield is more typical of a Tech stock than the present good dividend yield.

The Dividend Payout Ratios (DPR) are generally too high. The DPR for 2025 for Earnings per Share (EPS) is far too high at 84% with 5 year coverage at 76%. The DPR for 2025 for Cash Flow per Share (CFPS) is fine at 39% with 5 year coverage at 41%. The DPR for 2025 for Free Cash Flow (FCF) is too high at 60% with 5 year coverage at 56%. This is a tech stock and their DPRs were better for a Tech stock in the 30% range. There is a trade off between using money for dividends and reinvesting in the company. That is why too high a percentage of earnings going to dividends rather than reinvesting in the company is not good.

Item	Cur	5 Years
EPS	83.58%	75.80%
CFPS	39.08%	41.10%
FCF	59.92%	55.54%

Debt Ratios are good. The Long Term Debt/Market Cap Ratio for 2025 is good at 0.00 and currently at 0.00. The total long term debt to Market Cap ratio is good at 0.03 and 0.03 currently. The Liquidity Ratio for 2025 is good at 1.71 and 1.71 currently. The Debt Ratio for 2025 is good at 3.46 and 3.46 currently. The Leverage and Debt/Equity Ratios for 2025 are good at 1.41 and 0.41 and currently at 1.41 and 0.41.

Type	Year End	Ratio Curr
Lg Term R	0.00	0.00
T. Lg Term R	0.03	0.03
Intang/GW	0.38	0.41
Liquidity	1.71	1.71
Liq. + CF	2.04	2.02
Debt Ratio	3.46	3.46
Leverage	1.41	1.41
D/E Ratio	0.41	0.41

The Total Return per year is shown below for years of 5 to 30 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	17.98%	-17.05%	-19.87%	2.83%
2015	10	17.67%	-3.11%	-5.84%	2.73%
2010	15	20.30%	15.60%	11.01%	4.59%
2005	20	20.07%	11.47%	8.47%	3.00%
2000	25		11.26%	8.88%	2.38%
1995	30		11.21%	9.23%	1.98%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 18.60, 20.05 and 24.33. The corresponding 10 year ratios are 22.86, 31.37 and 37.20. The corresponding historical ratios are 17.72, 22.48 and 28.52. The current ratio is 12.34 based on a stock price of $18.61 and EPS estimate for 2025 of $1.51. This ratio is low and below the low ratio for the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a Graham Price of $19.43. The 10-year low, median, and high median Price/Graham Price Ratios are 2.05, 2.53 and 3.23. The current ratio is 0.96 based on a stock price of $18.61. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Book Value per Share Ratio of 4.87. The current P/B Ratio is 1.67 based on a Book Value of $609.5M, Book Value per of 11.13 and a stock price of $18.61. The current ratio is 66% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I also have Book Value per Share estimate for 2026 of $11.22. This implies a ratio of 1.66 based on a stock price of $18.61 and a Book Value of $614.3M. This ratio is 66% 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 19.92. The current ratio is 7.72 based on Cash Flow of $132M for the last 12 months, Cash Flow per Share of $2.41 and a stock price of $18.61. The current ratio is 61% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get an historical median dividend yield of 1.35%. The current dividend yield is 6.45% based on dividends of $1.20 and a stock price of $18.61. The current dividend yield is 324% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get a 10 year median dividend yield of 1.10%. The current dividend yield is 6.45% based on dividends of $1.20 and a stock price of $18.61. The current dividend yield is 485% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

The 10-year median Price/Sales (Revenue) Ratio is 5.29. The current ratio is 2.01 based on Revenue estimate for 2026 of $506M, Revenue per Share of $9.24 and a stock price of $18.61. The current ratio is 62% 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 testing as relatively cheap. The dividend yield tests say this and it is confirmed by the P/S Ratio test. Also, all the other tests say the same thing.

When I look at analysts’ recommendations, I find only Hold (4). The consensus is a Hold. The 12 month stock price consensus is $22.00 with a high of $24.00 and a low of $20.00. The consensus stock price of $22.00 implies a total return of $24.66% with 18.22% from capital gains and 6.45% from dividends based on a current stock price of $18.61.

All the recommendations in 2025 on Stock Chase are Sell or Do Not Buy. One sell said that Software companies being taken over by AI and it will be a challenge to grow business going forward. Aditya Raghunath on Motley Fool says to buy as the stock is down 75% from its high and has a good dividend. Amy Legate-Wolfe on Motley Fool says that Enghouse Systems is one of Canada’s quietest long-term tech compounders, building its business through disciplined acquisitions and steady recurring revenue. The company put out a press release via Newswire about their fourth quarter results for 2025.

Simply Wall Street via Yahoo Finance reviews this stock. It does not like the fact that earnings are declining and that they are paying too much of earnings in dividends.

Enghouse Systems Ltd is a Canada-based provider of software and services to a variety of end markets. The firm's operations are organized in two segments, namely, the Interactive Management Group (IMG) and the Asset Management Group (AMG). The firm has operations in Canada, the United States, the United Kingdom, Europe, excluding Scandinavia, Germany, Asia-Pacific, and other regions, with maximum revenue from the USA. Its web site is here Enghouse Systems Ltd.

The last stock I wrote about was about was Transcontinental Inc (TSX-TCL.A, OTC-TCLAF) ... learn more. The next stock I will write about will be Exco Technologies Ltd (TSX-XTC, OTC-EXCOF) ... learn more on Wednesday, January 28, 2026 around 5 pm. Tomorrow on my other blog I will write about My Investing .... learn more on Tuesday, January 27, 2026 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.