Is it a good company at a reasonable price? I agree with other analysts that this is a good company. However, my testing is showing that the stock is on the expensive side. The proper way to buy any stock is over time and in different months. I know that the analysts’ consensus is a Strong Buy, but almost all stocks all the time are Strong Buys. I would be cautious about buying at the present time.
I do not own this stock of Savaria Corporation (TSX-SIS, OTC-SISXF). I got this stock off the Dividend Blogger site that no longer exists. I am always interested in dividend growth small cap stock. The first few years of accounting were rather confusing, but I think I figured them out in the end.
This company has done very well over the past 5 and 10 years. It has had some good growth. 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 over 12 months to the first quarter in 2026 and expected growth over this year.
| Yr | Item | Tot. Gwth | Per Year | Gwth | Coverage |
|---|---|---|---|---|---|
| 5 | Revenue Growth | 157.70% | 20.84% | 1.68% | <-12 mths |
| 5 | AEPS Growth | 116.07% | 16.66% | 9.09% | <-12 mths |
| 5 | Net Income Growth | 159.87% | 21.05% | 14.83% | <-12 mths |
| 5 | Cash Flow Growth | 180.05% | 22.87% | 3.28% | <-12 mths |
| 5 | Dividend Growth | 17.30% | 3.24% | 2.81% | <-12 mths |
| 5 | Stock Price Growth | 57.54% | 9.52% | 38.59% | <-12 mths |
| 10 | Revenue Growth | 858.95% | 25.37% | 6.96% | <-this year |
| 10 | AEPS Growth | 332.14% | 15.76% | 14.05% | <-this year |
| 10 | Net Income Growth | 668.90% | 22.63% | 44.54% | <-this year |
| 10 | Cash Flow Growth | 1038.50% | 27.54% | 12.44% | <-this year |
| 10 | Dividend Growth | 220.65% | 12.36% | 4.57% | <-this year |
| 10 | Stock Price Growth | 313.43% | 15.25% | 53.64% | <-this year |
If you had invested in this company in December 2015, for $1,002.82 you would have bought 182 shares at $5.51 per share. In December 2025, after 10 years you would have received $791.57 in dividends. The stock would be worth $4,145.96. Your total return would have been $4,937.53. This would be a total return of 19.40% per year with 15.25% from capital gain and 4.15% from dividends.
| Cost | Tot. Cost | Shares | Years | Dividends | Stock Val | Tot Ret |
|---|---|---|---|---|---|---|
| $5.51 | $1,002.82 | 182 | 10 | $791.57 | $4,145.96 | $4,937.53 |
When I was updating my spreadsheet, I noticed for the three months ending in March 2026, the Sales went up 6.91% and expenses went down by 1.80%. Their EPS went from $0.17 quarter one last year to $0.31 quarter one this year. There are lots of positives about this stock, but I also noticed that the Dividend Payout Ratios (DPR) have gotten too high and the dividend increases are way down. However, the DPR looks like it will be at a reasonable level in 2026 and in moving forward.
The current dividend yield is low with dividend growth low. The current dividend yield is low (below 2%) at 1.83%. The 5, 10 and historical median dividend yields are moderate (2% to 4% ranges) at 2.81%, 2.77% and 3.32%. The dividend increases are low (below 8% per year) at 3% per year over the past 5 years. The last dividend increase was in 2025 and it was for 3.8%.
The Dividend Payout Ratios (DPR) are currently mostly good. The DPR for 2025 for Earnings per Share (EPS) is high at 57% with 5 year coverage at 88%. The DPR for 2025 for Adjusted Earnings per Share (AEPS) is good at 45% with 5 year coverage high at 79%. The DPR for 2025 for Cash Flow per Share (CFPS) is good at 25% with 5 year coverage at 28%. The DPR for 2025 for Free Cash Flow (FCF) is good at 38% with 5 year coverage at 47%.
| Item | Cur | 5 Years |
|---|---|---|
| EPS | 57.38% | 87.74% |
| AEPS | 45.05% | 79.44% |
| CFPS | 24.59% | 28.37% |
| FCF | 38.20% | 46.68% |
Debt Ratios are good. The Long Term Debt/Market Cap Ratio for 2025 is good at 0.10 and currently at 0.07. The Liquidity Ratio for 2025 is good at 1.61 and 1.71 currently. The Debt Ratio for 2025 is good at 2.40 and 2.44 currently. The Leverage and Debt/Equity Ratios for 2025 are good at 1.71 and 0.71 and currently at 1.69 and 0.69.
| Type | Year End | Ratio Curr |
|---|---|---|
| Lg Term R | 0.10 | 0.07 |
| Intang/GW | 0.39 | 0.29 |
| Liquidity | 1.61 | 1.71 |
| Liq. + CF | 2.15 | 2.33 |
| Debt Ratio | 2.40 | 2.44 |
| Leverage | 1.71 | 1.69 |
| D/E Ratio | 0.71 | 0.69 |
The Total Return per Year is shown below for years of 5 to 24 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 | 3.24% | 12.51% | 9.52% | 3.00% |
| 2015 | 10 | 12.36% | 19.40% | 15.25% | 4.15% |
| 2010 | 15 | 13.28% | 25.27% | 19.47% | 5.80% |
| 2005 | 20 | 19.68% | 16.20% | 13.08% | 3.12% |
| 2001 | 24 | 10.95% | 17.30% | 14.41% | 2.89% |
The 5-year low, median, and high median Price/Earnings per Share Ratios are 21.69, 28.29 and 34.60. The corresponding 10 year ratios are 21.59, 27.18 and 34.74. The corresponding historical ratios are 14.64, 19.90 and 24.57. The current ratio is 22.29 based on a stock price of $30.54 and EPS estimate for 2026 of $1.37. The current ratio is between the low and median ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.
I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 18.85, 22.87 and 26.89. The corresponding 10 year ratios are 19.15, 24.48 and 30.01. The corresponding historical ratios are 14.54, 20.24 and 24.96. The current ratio is 22.13 based on a stock price of $30.54 and AEPS estimate for 2026 of $1.38. The current ratio is between the low and median ratio 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 Graham Price of $16.88. The 10-year low, median, and high median Price/Graham Price Ratios are 1.20, 1.59 and 1.94. The current ratio is 1.81 based on a stock price of $30.54. The current ratio is between the median and high ratio 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 10-year median Price/Book Value per Share Ratio of 2.41. The current ratio is 3.33 based on a Book Value of $659.79M, Book Value per Share of $9.18 and a stock price of $30.54. The current ratio is 38% 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 15.15. The current ratio is 14.14 based on Cash Flow per Share estimate for 2026 of $2.16, Cash Flow of $155.3M and a stock price of $30.54. The current ratio is 7% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.
I get an historical median dividend yield of 3.32%. The current dividend yield is 1.83% based on dividends of $0.5604 and a stock price of $30.54. The current dividend yield is 45% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive.
I get a 10 year median dividend yield of 2.77%. The current dividend yield is 1.83% based on dividends of $0.5604 and a stock price of $30.54. The current dividend yield is 34% below the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively expensive.
The 10-year median Price/Sales (Revenue) Ratio is 1.72. The current P/S Ratio is 2.25 based on a stock price of $30.54, Revenue estimate for 2026 of $977M and Revenue per Share of $13.59. The current ratio is 30% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.
Results of stock price testing is that the stock price is probably relatively expensive. The dividend yield testing is saying that the stock price is relatively expensive and it is confirmed by the P/S Ratio test. The rest of the testing varies from reasonable to expensive. Other good test of P/GP Ratio and P/B Ratio is also saying that the stock price is relatively expensive.
When I look at analysts’ recommendations, I find Strong Buy (2), and Buy (6). The consensus would be a Strong Buy. The 12 month stock price consensus is $35.00 with a high of $37.00 and low of $33.00. The consensus 12 month stock price of $35.00 implies a total return of 16.44% with 14.60% from capital gains and 1.83% from dividends based on a current stock price of $30.54.
On Stock Chase in 2026 there are two entries of Partial Buy and Watch. The Watch analyst said it was hit by tariffs and is recovering and focused more on Europe than US now. Stock Chase gives this stock 4 and one half stars out of 5. Rajiv Nanjapla on Motley Fool thinks this is the ideal stock to build wealth in your TFSA account. Aditya Raghunath on Motley Fool thinks now is a good time to invest in this company. The company put out a Press Release about their fourth quarter of 2025. The company put out a Press Release about their first quarter of 2026.
Simply Wall Street via Yahoo Finance reviews this stock as an undervalued small cap. See the third stock reviewed. They say that the stock is undervalued as its current price is $16.53 and its fair value is $31.01. This was in May 2026. But this makes no sense as the stock price low in May 2026 was $27.00. Simply Wall Street has one warning of significant insider selling over the past 3 months. Often sites do not distinguish between not taking up options and selling. Over the past year the CEO, one officer and the Chairman have all increased their shares in this company.
Savaria Corp designs, engineers, and manufactures products for personal mobility. Its products include home elevators, wheelchair lifts, commercial elevators, ceiling lifts, stairlifts, and van conversions. The company's operating segments are Accessibility and Patient Care. The company derives maximum revenue from Accessibility segment. Its web site is here Savaria Corporation.
The last stock I wrote about was about was TECSYS Inc (TSX-TCS, OTC-TCYSF) ... learn more. The next stock I will write about will be Loblaw Companies Ltd (TSX-L, OTC-LBLCF) ... learn more on Monday, July 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.
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