Well Health Technologies Corp

Sound bite for Twitter is: Heath Care Sector stock. Results of stock price testing is that the stock price is probably cheap. Debt Ratios are mostly fine, but they need to improve their Liquidity Ratio. This stock has no dividends so no dividend yield and no Dividend Payout Ratios (DPR). See my spreadsheet on Well Health Technologies Corp.

Is it a good company at a reasonable price? I own this stock and I bought it with my fooling around money. I plan to keep this stock. It would seem that it is currently cheap.

I own this stock of Well Health Technologies Corp (TSX-WELL, OTCQX-WHTCF). I was interested in this stock when I heard it was to acquire Toronto based MyHealth Centers. CanTech Letter says that TSX stock investors can buy today is Well Health (TSX-WELL), a company that operates in the health-tech space. WELL stock has already returned over 4,000% to shareholders since its initial public offering in April 2016. No Dividend. See CanTech Letter.

When I was updating my spreadsheet, I noticed that this stock has not done much since I bought it last year. I have a loss of 12%.

If you had invested in this company in December 2015, for $1,007.24 you would have bought 26 shares at $38.74 per share. In December 2025, after 10 years you would have received $247.17 in dividends. The stock would be worth $2,547.22. Your total return would have been $2,794.39. This would be a total return of 11.26% per year with 9.72% from capital gain and 1.54% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$0.44	$1,000.12	2,273	8	$0.00	$9,069.27	$9,069.27

This stock has no dividends so no dividend yield and no Dividend Payout Ratios (DPR).

Debt Ratios are mostly fine, but they need to improve their Liquidity Ratio. The Long Term Debt/Market Cap Ratio for 2025 is good at 0.42 and currently at 0.45. The Liquidity Ratio for 2025 is low at 1.03 and far too low at 0.83 currently. If you added in Cash Flow after dividends, the ratios are still low at 1.37 and currently too low at 1.08. The Debt Ratio for 2025 is good at 1.98 and 1.94 currently. The Leverage and Debt/Equity Ratios for 2025 are fine at 2.43 and 1.22 and currently at 2.50 and 1.29.

Type	Year End	Ratio Curr
Lg Term R	0.42	0.45
Intang/GW	1.53	1.50
Liquidity	1.03	0.83
Liq. + CF	1.37	1.08
Debt Ratio	1.98	1.94
Leverage	2.43	2.50
D/E Ratio	1.22	1.29

The Total Return per Year is shown below for years of 5 to 8 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	0.00%	-13.10%	-13.10%	0.00%
2017	8	0.00%	31.73%	31.73%	0.00%

The 5-year low, median, and high median Price/Earnings per Share Ratios are coming up 0 because of too many earnings losses in the years of the past 5 years. The corresponding 7 year ratios are all negative and so useless. Therefore, I can do not P/E Ratio testing.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 12.86, 19.50 and 26.14. The corresponding 8 year ratios are 9.22, 13.74 and 18.26. The current ratio is 16.83 based on AEPS estimate for 2026 of $0.24 and a stock price of $4.04. This 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 $4.30. The 10-year low, median, and high median Price/Graham Price Ratios are 0.71, 1.08 and 1.26. The current ratio is 0.94 based on a stock price of $4.04. The current 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 1.52. The current ratio is 1.18 based on Book Value of $867.8M, Book Value per Share of $3.42 and a stock price of $4.04. The current ratio is 22% 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 $3.36. This produces a ratio of 1.20 with a Stock Price of $4.04 and a Book Value of $853M. This ratio is 20.8% 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 11.39. The current ratio is 8.88 based on Cash Flow per Share estimate for 2026 of $0.45, Cash Flow of $115.5M and a stock price of $4.04. The current ratio is 22% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I cannot do any dividend yield testing because this stock has no dividends.

The 10-year median Price/Sales (Revenue) Ratio is 2.02. The current ratio is 0.65 based on Revenue estimate for 2026 of $1590M, Revenue per Share of $6.26 and a Stock Price of $4.04. The current ratio is 68% 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 P/S Ratio test is saying this and it is confirmed by the P/GP Ratio test. The other tests say that the stock price is cheap to reasonable.

When I look at analysts’ recommendations, I find Strong Buy (8), Buy (4), and Hold (1). The consensus would be a Strong Buy. The 12 month stock price consensus is $7.18 with a high of $8.25 and low of $5.00. The consensus stock price of $7.18 implies a total return of $77.72% all from capital gains based on a current stock price of $4.04.

There is really a divergence of opinion on this stock on Stock Chase and quite a number of entries for 2026. One analyst says Do Not Buy because it tries to be a technology company but has yet to prove it and he sold. Another says Buy because it is an exciting growth play and not an if story, but a when story. Jitendra Parashar on Motley Fool thinks this stock could be a strong multi-year growth winner. Amy Legate-Wolfe on Motley Fool says this stock is a strong buy and that it is expanding fast in clinics and healthcare software. The company put out a Press Release about its fourth quarter results for 2025. The company put out a Press Release about its first quarter of 2026..

Simply Wall Street via Yahoo Finance reviews this stock. It says to own WELL, you need to believe that its mix of clinics, digital tools, and AI can justify today's valuation despite forecast earnings declines and integration risk. It has two warnings on this stock of interest payments are not well covered by earnings; and earnings are forecast to decline by an average of 12% per year for the next 3 years.

WELL Health Technologies Corp is a practitioner-focused digital healthcare company. Its web site is here Well Health Technologies Corp.

The last stock I wrote about was about was Stingray Digital Group Inc (TSX-RAY.A, OTC-STGYF) ... learn more. The next stock I will write about will be BlackBerry Ltd (TSX-BB, NYSE-BB) ... learn more on Monday, August 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.

Also, on my book blog I have put a review of the book The Golden Road by William Dalrymple learn more...

Stingray Digital Group Inc

Sound bite for Twitter is: Dividend Paying Consumer. Results of stock price testing is that the stock price is probably on the expensive side. Debt Ratios need improving and the company has too much debt. The Dividend Payout Ratios (DPR) are good. The current dividend yield is moderate with dividend growth low. See my spreadsheet on Stingray Digital Group Inc.

Is it a good company at a reasonable price? There is a problem that they have not put out audited financial statements for their fourth quarter of March 31, 2026. I am using the unaudited results and this means that the audited values might be different. This is a problem. This is a risk. I am going to hold on to the stock I now have. I have not decided if I would buy any more. Analysts think that the stock will go up some 43% by next year. My testing is showing the stock price as relatively expensive.

I own this stock of Stingray Digital Group Inc (TSX-RAY, OTC-STGYF). I was following Newfoundland Capital Corp and Stingray bought them out. Also, I read the blub on CEO, Eric Boyko. The site says he is an entrepreneur with nearly two decades of experience with start-ups. Mr. Boyko has extensive expertise in early stage business innovations.

When I was updating my spreadsheet, I noticed I have done fine with this stock. It is with my fooling around money in my TFSA account. I first bought this in 2018 and then made purchases in 2019, 2021, 2022 and 2023. I have a total return of 16.86% with 13.59% from capital gains and 3.27% from dividends. This return is to the end of June 2026. Also note that this stock as a financial year ending March 31 each year, so I am looking at the fourth quarter dated March 31, 2026.

They have not put out audited Fourth Quarter results for their financial year ending March 31, 2026. I updated my spreadsheet from Supplemental Financial Information that they put out. Note that the stock price has gone up this year by 4.6%. The reason that they had an earning loss in 2026 is that they had a write-off for Impairment of Goodwill and Broadcast Licenses.

If you had invested in this company in December 2015, for $1,005.71 you would have bought 163 shares at $6.17 per share. In December 2025, after 10 years you would have received $439.29 in dividends. The stock would be worth $2,353.72. Your total return would have been $2,793.01. This would be a total return of 11.83% per year with 8.88% from capital gain and 2.95% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$6.17	$1,005.71	163	10	$439.29	$2,353.72	$2,793.01

The current dividend yield is moderate with dividend growth low. The current dividend yield is moderate (2% to 4% ranges) at 2.25%. The 5, 10 and historical dividend yields are moderate 4.12%, 3.91% and 3.71%. The dividend growth is low (below 8% per year) at just 1.30% per year over the past 5 years. The last dividend increase was in 2025 (and 2026 financial year) and it was for 13.33%. Dividends for the 5 years before had been flat.

The Dividend Payout Ratios (DPR) are good. The DPR for 2025 for Earnings per Share (EPS) is non-calculable due to an earnings loss with 5 year coverage high at 188%. The DPR for 2025 for Adjusted Earnings per Share (AEPS) is good at 24% with 5 year coverage at 33%. The DPR for 2025 for Adjusted Free Cash Flow (AFCF) is good at 21% with 5 year coverage at 26%. The DPR for 2025 for Cash Flow per Share (CFPS) is good at 17% with 5 year coverage at 18%. The DPR for 2025 for Free Cash Flow (FCF) is good at 25% with 5 year coverage at 30%.

Item	Cur	5 Years
EPS	0.00%	187.65%
AEPS	24.06%	32.61%
AFCF	21.33%	26.10%
CFPS	17.02%	18.39%
FCF	25.37%	29.99%

Debt Ratios need improving and the company has too much debt. The Long Term Debt/Market Cap Ratio for 2025 is good at 0.51 and currently at 0.49. Note that a number of analysts do not like to see this ratio at 0.50 and above. The Liquidity Ratio for 2025 is too low at 0.79 and 0.79 currently. If you added in Cash Flow after dividends, the ratios are still low at 1.20 and currently better at 1.51. The Debt Ratio for 2025 is low at 1.26 and 1.26 currently. The Leverage and Debt/Equity Ratios for 2025 are much too high at 4.86 and 3.86 and currently at 4.86 and 3.86. I like to see these debt ratios below 3.00 and below 2.00.

Type	Yr End	Ratio Curr
Lg Term R	0.51	0.49
Intang/GW	0.77	0.73
Int less BL	0.51	0.49
Liquidity	0.79	0.79
Liq. + CF	1.20	1.51
Debt Ratio	1.26	1.26
Leverage	4.86	4.86
D/E Ratio	3.86	3.86

The Total Return per Year is shown below for years of 5 to 11 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	1.30%	20.46%	16.99%	3.47%
2015	10	9.86%	11.83%	8.88%	2.95%
2014	11		8.93%	6.46%	2.46%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 9.58, 13.22 and 16.86. The corresponding 10 year ratios are 11.32, 14.24 and 17.15. The corresponding historical ratios are 13.06, 15.25 and 17.45. The current ratio is 9.61 based on a stock price of $15.11 and EPS estimate for 2027 of $1.57. 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 Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 5.73, 9.70 and 9.18. The corresponding 10 year ratios are 6.16, 8.46 and 10.54. The corresponding historical ratios are 6.16, 8.46 and 10.54. The current ratio is 7.33 based on a stock price of $15.11 and AEPS estimate for 2027 of $2.06. The current ratio is between the low ratio 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 also have Adjusted Free Cash Flow (AFCF) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 5.08, 6.32 and 7.64. The corresponding 10 year ratios are 5.27, 6.50 and 7.87. The corresponding historical ratios are 5.27, 6.50 and 7.87. The current ratio is 7.15 based on a stock price of $15.11 and AFCF estimate for 2027 of $2.11. The current ratio is between the median ratio 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 $12.01. The 10-year low, median, and high median Price/Graham Price Ratios are 0.75, 0.86 and 1.00. The current ratio is 1.26 based on a stock price of $15.11. 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 1.99. The current ratio is 4.86 based on a Book Value of $211.5M, Book Value per Share of $3.11 and a stock price of $15.11. The current ratio is 144% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive. Book Value went down this year because of an earnings loss.

I get a 10-year median Price/Cash Flow per Share Ratio of 5.76. The current ratio is 5.26 based on Cash Flow per Share estimate for 2027 of $2.87, Cash Flow of $195.2M and a stock price of $15.11. The current ratio is 8.6% below the 10 year 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 3.71%. The current dividend yield is 2.25% based on Dividends of $0.34 and a stock price of $15.11. The current dividend yield is 39% 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 3.91%. The current dividend yield is 2.25% based on Dividends of $0.34 and a stock price of $15.11. The current dividend yield is 42% 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 1.78. The current P/S Ratio is 1.58 based on Revenue estimate for 2027 of $648.5M, Revenue per Share of $9.54 and a stock price of $15.11. The current ratio is 11% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

Results of stock price testing is that the stock price is probably on the expensive side. The 10 year median dividend yield test says this. The P/S Ratio test does not agree and it says that the stock price is reasonable and below the median. However, the P/GP Ratio test and P/B Ratio test, which are good tests, agree with the dividend yield test. Other tests show stock price as reasonable.

When I look at analysts’ recommendations, I find Strong Buy (3), and Buy (4). The consensus would be a Strong Buy. The 12 month stock price consensus is $21.36 with a high of $24.00 and a low of $20.00. The 12 month stock price consensus of $21.36 implies a total return of 43.61% with 41.36% from capital gains and 2.25% from dividends based on a current stock price of $15.11.

Last year, when I look at analysts’ recommendations, I found Strong Buy (3) and Buy (3). The consensus would be a Strong Buy. The 12 months target price given was $13.12 with a high of $13.50 and low of $13.00. The 12 month target price of $13.12 implies a total return of 28.91% with 26.03% from capital gains and 2.88% from dividends based on a current stock price of $10.72. What happened was a price increase to $15.11, a 40.95% increase so a Total return of 43.83% with 40.95% from capital gains and 2.88% from dividends based on a stock price of $10.72.

There is only one analyst recommendation on Stock Chase for 2026. It is a Top Pick. The previous entry was in 2023 and a Watch. Christopher Liew via Yahoo Finance on Motley Fool writes about this stock and says it has self-sustained momentum. The company put out a press release via Globe Newswire about their fourth quarter ending in March 2026.

Simply Wall Street via Yahoo Finance reviews this stock with regards to its dividend payments and says it can afford the dividend. Simply Wall Street has one warning of has a high level of debt. Simply Wall Street via Yahoo Finance reviewed this stock in May 2026 and thought the $14.79 price was too high for people to make a purchase of this stock..

Stingray Group Inc is a provider of multi-platform music services. It broadcasts music and video content on several platforms, including radio stations, premium television channels, digital TV, satellite TV, IPTV, the Internet, mobile devices, and game consoles. Geographically, the company derives its key revenue from Canada and the rest from the United States and other countries. Its web site is here Stingray Digital Group Inc.

The last stock I wrote about was about was Loblaw Companies Ltd (TSX-L, OTC-LBLCF) ... learn more. The next stock I will write about will be Well Health Technologies Corp (TSX-WELL, OTCQX-WHTCF) ... learn more on Friday, July 31, 2026 around 5 pm. Tomorrow on my other blog I will write about Sweden Buries Social Democracy.... learn more on Thursday, July 30, 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.

Loblaw Companies Ltd

Sound bite for Twitter is: Dividend Growth Consumer. Results of stock price testing is that the stock price is probably relatively expensive. Debt Ratios show that the company has too much debt. The Dividend Payout Ratios (DPR) are good. The current dividend yield is low with dividend growth moderate. See my spreadsheet on Loblaw Companies Ltd .

Is it a good company at a reasonable price? The stock price of this stock has risen sharply since around January 2021. I would worry that the growth in Revenue and Cash Flow is a lot lower than other growth, especially the stock price growth. Eventually, all growth depends on Revenue growth. I also do not like buying dividend stock when the dividend yield is below 1.00%. My testing is showing that on a lot of levels, the stock price is expensive as all tests point to this.

I do not own this stock of Loblaw Companies Ltd (TSX-L, OTC-LBLCF), but I did in the past. I owned it from 1996 to 2007. It was originally a great stock. I sold it in 2007 because it was having problems with its tech upgrade to its supply system and it did not seem that it would be fixed anytime soon. The stock started to do well again in 2014, but I had bought Metro and it has done well for me and it is a pure grocery stock. On the other hand, if I had bought more stock in 2007, I would have done very well with it to date. However, you never know how thing will work out.

When I was updating my spreadsheet, I noticed because of the problems this company had with its tech upgrade, shareholders who had this stock for 25 still have not reach a yearly return of at least 8%. From my spreadsheet, it looks like the stock hit a high in 2005 that was not duplicated until 2017, some 12 years later. The tech upgrade was their supply management system. I notice that if I cannot find a particular product in Metro, it will be there the next day. Loblaws stores might have it the next day or in two weeks’ time or somewhere in between.

What I have also noticed is that the stock price is climbing much faster than other values over the past 5 years. You can see that in the following chart in the 5 year figures where stock price is up 32% and the rest of the values show increases between 3.83% and 19.21%. What also stands out is the lack of revenue 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	21.23%	3.92%	0.91%	<-12 mths
5	AEPS Growth	132.54%	18.39%	2.06%	<-12 mths
5	Net Income Growth	140.70%	19.21%	3.64%	<-12 mths
5	Cash Flow Growth	20.67%	3.83%	5.67%	<-12 mths
5	Dividend Growth	72.34%	11.50%	10.00%	<-12 mths
5	Stock Price Growth	295.16%	31.63%	5.54%	<-12 mths
10	Revenue Growth	40.77%	3.48%	2.77%	<-this year
10	AEPS Growth	180.92%	10.88%	6.17%	<-this year
10	Net Income Growth	321.99%	15.49%	-0.19%	<-this year
10	Cash Flow Growth	103.44%	7.36%	5.67%	<-this year
10	Dividend Growth	121.70%	8.29%	11.83%	<-this year
10	Stock Price Growth	279.86%	14.28%	8.62%	<-this year

If you had invested in this company in December 2015, for $1,012.77 you would have bought 62 shares at $16.34 per share. In December 2025, after 10 years you would have received $227.68 in dividends. The stock would be worth $3,847.10. Your total return would have been $4,074.78. This would be a total return of 15.49% per year with 14.28% from capital gain and 1.21% from dividends. This calculation takes into consideration stock splits, which means that the original cost would be lowered by these splits. (They split the stock in 2025.)

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$16.34	$1,012.77	62	10	$227.68	$3,847.10	$4,074.78

The current dividend yield is low with dividend growth moderate. The current dividend yield is low (below 2%) at 0.95%. The 5, 10 and historical median dividend yields are also low at 1.45%, 1.49% and 1.45%. The dividend growth is moderate (8% to 14% ranges per year) at 11.5% per year over the past 5 years. The last dividend increase was 10% and it was in 2026.

The Dividend Payout Ratios (DPR) are good. The DPR for 2025 for Earnings per Share (EPS) is good at 25% with 5 year coverage at 29%. The DPR for 2025 for Adjusted Earnings per Share (AEPS) is good at 23% with 5 year coverage at 23%. The DPR for 2025 for Cash Flow per Share (CFPS) is good at 9% with 5 year coverage at 9%. The DPR for 2025 for Free Cash Flow (FCF) is good at 22% with 5 year coverage at 18%. FCF for 2025 varies from $2,049M, to $4,097M. I am using $3,580M.

Item	Cur	5 Years
EPS	24.84%	28.77%
AEPS	22.69%	23.32%
CFPS	8.77%	8.67%
FCF	22.68%	17.97%

Debt Ratios show that the company has too much debt. The Long Term Debt/Market Cap Ratio for 2025 is good at 0.08 and currently at 0.08. The Liquidity Ratio for 2025 is low at 1.08 and 1.09 currently. If you added in Cash Flow after dividends, the ratios are still low at 1.48 and currently fine at 1.52. The Debt Ratio for 2025 is low at 1.37 and 1.36 currently. The Leverage and Debt/Equity Ratios for 2025 are too high at 3.71 and 2.71 and currently at 3.77 and 2.77.

Type	Year End	Ratio Curr
Lg Term R	0.08	0.08
Intang/GW	0.13	0.12
Liquidity	1.08	1.09
Liq. + CF	1.48	1.52
Debt Ratio	1.37	1.36
Leverage	3.71	3.77
D/E Ratio	2.71	2.77

The Total Return per Year is shown below for years of 5 to 37 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	11.50%	33.30%	31.63%	1.67%
2015	10	8.29%	15.49%	14.28%	1.21%
2010	15	6.65%	14.24%	12.87%	1.36%
2005	20	4.95%	8.70%	7.69%	1.01%
2000	25	7.07%	7.50%	6.58%	0.93%
1995	30	10.51%	12.97%	11.19%	1.77%
1990	35	10.36%	12.81%	11.15%	1.65%
1988	37	9.92%	15.17%	12.87%	2.30%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 16.96, 18.96 and 21.83. The corresponding 10 year ratios are 18.77, 22.52 and 25.39. The corresponding historical ratios are 17.05, 19.42 and 21.84. The current ratio is 28.85 based on a stock price of $65.49 and EPS estimate for 2026 of $2.27. 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. The ratios are pretty consistent, so this is a good test.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 14.27, 15.98 and 18.68. The corresponding 10 year ratios are 14.50, 16.10 and 18.36. The corresponding historical ratios are 13.64, 15.99 and 18.16. The current ratio is 25.38 based on a stock price of $65.49 and AEPS estimate for 2026 of $2.58. 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. The ratios are pretty consistent, so this is a good test.

I get a Graham Price of $23.21. The 10-year low, median, and high median Price/Graham Price Ratios are 1.16, 1.27 and 1.51. The current ratio is 2.82 based on a stock price of $65.49. 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 2.33. The current ratio is 7.05 based on a Book Value of $10,909M, Book Value per Share of $9.28 and stock price of $65.49. The current ratio is 203% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I also have Book Value per Share estimate of $9.57 for 2026. This value, with a stock price of $65.49 and book Value of $11,249M gives a ratio of 9.84. This ratio is 194% 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 7.84. The current ratio is 11.63 based on Cash Flow for the last 12 months of $6,619M, Cash Flow per Share of $5.63 and a stock price of $65.49. The current ratio is 48% 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 1.45%. The current dividend yield is 0.95% based on a dividend of $0.620732 and a stock price of $65.49. The current dividend yield is 35% 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 1.49%. The current dividend yield is 0.95% based on a dividend of $0.620732. The current dividend yield is 36% 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 0.60. The current P/S Ratio is 1.17 based on Revenue estimate for 2026 of $65,670M, Revenue per Share of $55.88 and a stock price of $65.49. The current ratio is 97% 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 tests say this and it is confirmed by the P/S Ratio test. In fact, all my tests are saying that the stock price is relatively expensive.

When I look at analysts’ recommendations, I find Strong Buy (5), Buy (3), Hold (1), and Sell (1). The consensus would be a Buy. The 12 month stock price consensus is $67.40 with a high of $75.00 and low of $43.00. The consensus stock price of $67.40 implies a total return of 3.86% with 2.92% from capital gains and 0.95% from dividends based on a current stock price of $65.49.

There are varies views on this company at Stock Chase. Some like it and call it a defensive stock. Other think it is expensive and other that its current growth is unsustainable. Amy Legate-Wolfe on Motley Fool thinks this is one of 5 top stocks to buy in August. Tony Dong on Motley Fool thinks this is a good stock to have as it will hold up in a Technical Recession. The company put out a press release via Globe Newswire about their fourth quarter of 2025 results. The company put out a press release via Globe Newswire about their first quarter of 2026.

Simply Wall Street on Yahoo Finance reviews this stock. They say it could be slightly below its fair value and at its fair value. They have one warning of has a high level of debt

Loblaw is Canada's largest retailer, operating approximately 2,500 food retail and pharmacy stores across the country. Beyond retail, Loblaw runs the PC Optimum loyalty program, but announced plans to sell its financial services arm including credit cards and insurance brokerage to EQB in December 2025. George Weston is Loblaw's controlling shareholder with a 53% stake. Its web site is here Loblaw Companies Ltd .

The last stock I wrote about was about was Savaria Corporation (TSX-SIS, OTC-SISXF) ... learn more. The next stock I will write about will be Stingray Digital Group Inc (TSX-RAY.A, OTC-STGYF) ... learn more on Wednesday, July 29, 2026 around 5 pm. Tomorrow on my other blog I will write about Pipelines but No Private Capital.... learn more on Tuesday, July 28, 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.

Savaria Corporation

Sound bite for Twitter is: Dividend Growth Consumer. Results of stock price testing is that the stock price is probably relatively expensive. Debt Ratios are good. The Dividend Payout Ratios (DPR) are currently mostly good. The current dividend yield is low with dividend growth low. See my spreadsheet on Savaria Corporation.

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.

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.

TECSYS Inc

Sound bite for Twitter is: Dividend Growth Tech. Debt Ratios are fine. Results of stock price testing is that the stock price is probably reasonable. The Dividend Payout Ratios (DPR) are too high and is expected to be improved next year. The current dividend yield is low with dividend growth low. See my spreadsheet on TECSYS Inc.

Is it a good company at a reasonable price? I still like this company and I am hoping that they will do better in the future. However, it is a small cap and therefore rather risky. You should not put money into this company that you cannot afford to lose. The stock price is testing reasonable at the moment.

I own this stock of TECSYS Inc (TSX-TCS, OTC-TCYSF). I came across this stock when I was looking for a dividend paying small cap stock as a filler stock. (I use filler stocks in my TFSA to soak up small extra money left over in the account after my main purchase with my annual deposit into the account each year.) This is a small cap dividend paying stock that I like.

When I was updating my spreadsheet, I noticed the stock price is negative for the last 5 years. The company missed the EPS estimate of $0.47 with an EPS of $0.27. I note that the company also reported an Adjusted Earnings per Share of $0.50. This is the first time they have reported an Adjusted Earnings per Share. Even with the Adjusted Earnings per Share, I noticed that the growth is on 2.04% per year over the past 5 years and this is low. I noticed that they also had restructuring cost for 2026.

They have been increasing their revenue, but EPS has been declining over the past 5 years. Their expenses have been increasing faster than their revenue. This is probably why stock price has gone down.

When I look at insiders, both the CEO and Chairman have significant holdings in this company. Over the past year the CFO bought some more shares. The Chairman, who currently owns 4.5% of the company worth around $27M is selling shares. He has been selling some shares each year since 2021. It is probably wise of him to do so because you do not want all your money and your employments dependent on one company.

If you had invested in this company in December 2015, for $1,002.32 you would have bought 136 shares at $7.37 per share. In December 2025, after 10 years you would have received $344.76 in dividends. The stock would be worth $4,168.40. Your total return would have been $4,512.16. This would be a total return of 17.10% per year with 15.32% from capital gain and 1.78% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$7.37	$1,002.32	136	10	$344.76	$4,168.40	$4,513.16

However, if you had invested in this company in December 2020, for $1,046.22 you would have bought 21 shares at $49.82 per share. In December 2025, after 5 years you would have received $32.34 in dividends. The stock would be worth $643.65. Your total return would have been $675.99. This would be a total loss of 8.49% per year with 9.23% from capital loss and 0.77% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$49.82	$1,046.22	21	5	$32.34	$643.65	$675.99

The current dividend yield is low with dividend growth low. The current dividend yield is low (below 2% per year) at 1.05%. The 5, 10 and historical dividend yields are also low at 0.96%, 1.01% and 1.26%. The dividend growth is currently low (below 8% per year) at 7.8% per year over the past 5 years. The last dividend increase occurred in 2025 and it was for 5.9%. The DPR for the 2027 financial year is expected to be much better at 46%.

The Dividend Payout Ratios (DPR) are too high and is expected to be improved next year. The DPR for 2025 for Earnings per Share (EPS) is too high at 130% with 5 year coverage at 136%. The DPR for 2025 for Adjusted Earnings per Share (EPS) is too high at 70% with 5 year coverage at 104%. The DPR for 2025 for Cash Flow per Share (CFPS) is high at 51% with 5 year coverage at 51%. The DPR for 2025 for Free Cash Flow (FCF) is too high at 100% with 5 year coverage at 80%.

Item	Cur	5 Years
EPS	129.63%	135.09%
AEPS	70.00%	104.76%
CFPS	50.95%	50.95%
FCF	99.71%	80.39%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2025 is good at 0.00 and currently at 0.01. The Liquidity Ratio for 2025 is low at 1.12 and 1.12 currently. If you added in Cash Flow after dividends, the ratios are still low at 1.27 and currently at 1.31. I like to see this ratio at 1.50 or higher. The Debt Ratio for 2025 is good at 1.77 and 1.77 currently. The Leverage and Debt/Equity Ratios for 2025 are fine at 2.30 and 1.30 and currently at 2.30 and 1.30.

Type	Year End	Ratio Curr
Lg Term R	0.00	0.01
Intang/GW	0.05	0.05
Liquidity	1.12	1.12
Liq. + CF	1.27	1.31
Debt Ratio	1.77	1.77
Leverage	2.30	2.30
D/E Ratio	1.30	1.30

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	7.84%	-8.49%	-9.26%	0.77%
2015	10	13.35%	17.10%	15.32%	1.78%
2010	15	13.13%	23.79%	21.12%	2.67%
2005	20	12.81%	17.64%	15.91%	1.73%
2000	25		9.57%	8.83%	0.74%
1998	27		9.41%	8.73%	0.68%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 108.63, 133.17 and 163.89. The corresponding 10 year ratios are 78.17, 95.78 and 131.47. The corresponding historical ratios are 15.99, 20.16 and 24.33. The current ratio is 43.76 based on a stock price of $34.13 and EPS estimate for 2027 of $0.78. 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. The ratios are very high.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 106.43, 133.17, 157.70. The corresponding 10 year ratios are 58/.361, 90.92 and 108.63. The corresponding historical ratios are 15.99, 20.16 and 24.33. The current ratio is 46.75 based on a stock price of $34.13 and AEPS estimate for 2027 of $0.73. 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. The ratios are very high.

I get a Graham Price of $8.42. The 10-year low, median, and high median Price/Graham Price Ratios are 3.25, 4.87 and 5.98. The current P/GP Ratio is 4.05 based on a stock price of $34.13. 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. The ratios are very high.

I get a 10-year median Price/Book Value per Share Ratio of 6.32. The current ratio is 7.91 based on a stock price of $34.13, Book Value of $62.3M, Book Value per Share of $4.31. The current ratio is 25% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive. The ratios are very high.

I get a 10-year median Price/Cash Flow per Share Ratio of 43.74. The current ratio is 25.01 based on a stock price of $34.13, Cash Flow estimate for 2027 of $19.7M and Cash Flow per Share of $1.36. The current ratio is 43% below 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 1.26%. The current dividend yield is 1.05% based on dividends of $0.36 and a stock price of $34.13. The current ratio is 16% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a 10 year median dividend yield of 1.01%. The current dividend yield is 1.05% based on dividends of $0.36 and a stock price of $34.13. The current ratio is 4.7% above the 10 year 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 2.78. The current P/S Ratio is 2.46 based on Revenue estimate for 2027 of $200.4M, Revenue per Share of $13.88 and a stock price of $34.13. The current ratio is 11.7% below the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

Results of stock price testing is that the stock price is probably reasonable. The 10 year median dividend yield test says that the stock price is reasonable and below the median. It is confirmed by the P/S Ratio test. The other tests range from cheap to expensive. I wonder about some of the testing because some ratios are really high.

When I look at analysts’ recommendations, I find Strong Buy (1), Buy (3), and Hold (1). The consensus would be a Buy. The 12 month stock price consensus is $37.50 with a high of $40.00 and low of $28.50. The 12 months stock price consensus of $37.50 implies a total return of 10.93% with 9.87% from capital gains and 1.05% from dividends.

There is a couple of entries on Stock Chase for 2025. There is a top pick and a Do Not Buy. The Do Not Buy says that he prefers companies with recurring revenue. The top pick says they dominate supply chain management software solutions in US hospitals. Amy Legate-Wolfe on Motley Fool says TECSYS is a smaller supply-chain software play with rising SaaS revenue, but it can drop fast if growth disappoints. Aditya Raghunath on Motley Fool says that if you are not investing in companies like TECSYS then you are using your TFSA wrong. The company put out a Press Release about their fourth quarter ending in March 2026.

Simply Wall Street via Yahoo Finance reviews this stock. They like to stock because there is high insider ownership and it is growing its profit. Simply Wall Street has two warnings of significant insider selling over the past 3 months; and large one-off items impacting financial results. They have Adjusted Earnings per Share values as well as Earnings per Share.

TECSYS Inc is engaged in the development, marketing, and sale of enterprise-wide supply chain management software for distribution, warehousing, transportation logistics, point-of-use, and order management. Geographically, it operates in United States, Canda, Europe, Others with majority of revenue deriving from United States. Its web site is here TECSYS Inc.

The last stock I wrote about was about was Dorel Industries Inc (TSX-DII.B, OTC-DIIBF) ... learn more. The next stock I will write about will be Savaria Corporation (TSX-SIS, OTC-SISXF) ... learn more on Friday, July 24, 2026 around 5 pm. Tomorrow on my other blog I will write about Socialisms Appeal to the Youth.... learn more on Thursday, July 23, 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.

Dorel Industries Inc

Sound bite for Twitter is: Consumer Sector Stock. Results of stock price testing is that the stock price is probably cheap. Debt Ratios are not good and it has a negative book value. The company current pays no dividends, so there is no dividend yield or Dividend Payout Ratios to look at. See my spreadsheet on Dorel Industries Inc .

Is it a good company at a reasonable price? First of all, I personally would not buy any stock that has a negative book value. I could only do two tests of P/S Ratio and P/B Ratio because of negative ratios. However, if you buy you must have faith that the company will recover. Even if it recovers, it might take years. You should only invest in this company with money you can afford to lose. The stock price is probably cheap.

I do not own this stock of Dorel Industries Inc (TSX-DII.B, OTC-DIIBF), but it once did. This was a stock recommended by Investment Reporter as a conservative investment. I sold the stock in 2006 because I had it for 7 years from 1999 and it was going nowhere. I bought this stock before I stopped working and at that time, I did not mind buying stocks with no dividends.

When I was updating my spreadsheet, I noticed they increased their debt in the past year by 803% and now have a negative book value. See recent news on Dorel’s Debt here and here. Shareholders only made money in the past 5 years because of a big dividend payment in 2022.

They would seem to be in an awful state. Revenue down and expected to be down in 2026. However, analysts expect that to change in 2027. They have earnings losses and that is expected to continue. They have taken on a big debt and so the book value is negative. Simply Wall Street is right, insiders are buying stock in the company, they are buying Class B stock, which is the one I am following.

The company current pays no dividends, so there is no dividend yield or Dividend Payout Ratios to look at.

Debt Ratios are not good and it has a negative book value. The Long Term Debt/Market Cap Ratio for 2025 is very high at 8.14 and currently at 7.23. The Intangible Ratios are much too high at 1.93 and currently at 1.69. The Liquidity Ratio for 2025 is low at 1.27 and 1.25 currently. If you added in Cash Flow after dividends, the ratios are even lower at 1.19 and currently better at 1.37. I like these ratios to be at 1.50 or higher. The Debt Ratio for 2025 is below 1.00 and showing that the book value is negative. The ratio for 2025 is at 0.89 and 0.86 currently. The Leverage and Debt/Equity Ratios are meaningless.

Type	Year End	Ratio Curr
Lg Term R	8.14	7.23
Intang/GW	1.93	1.69
Liquidity	1.27	1.25
Liq. + CF	1.19	1.37
Debt Ratio	0.89	0.86
Leverage	-7.93	-6.38
D/E Ratio	-8.93	-7.38

The Total Return per Year is shown below for years of 5 to 33 to the end of 2025 in CDN$. 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	0.00%	8.06%	-36.93%	44.99%
2015	10	0.00%	-4.80%	-26.26%	21.46%
2010	15	0.00%	-1.81%	-18.90%	17.09%
2005	20	0.00%	0.87%	-13.58%	14.46%
2000	25	0.00%	2.71%	-9.68%	12.39%
1995	30	0.00%	8.59%	-3.79%	12.38%
1992	33	0.00%	6.89%	-3.88%	10.77%

The Total Return per Year is shown below for years of 5 to 33 to the end of 2025 in US$. 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	0.00%	4.89%	-38.07%	42.96%
2015	10	0.00%	-10.53%	-29.37%	18.84%
2010	15	0.00%	-4.63%	-20.76%	16.12%
2005	20	0.00%	0.15%	-14.37%	14.52%
2000	25	0.00%	3.79%	-9.36%	13.15%
1995	30	0.00%	9.13%	-3.85%	12.98%
1992	33	0.00%	8.33%	-3.26%	11.59%

The 5-year low, median, and high median Price/Earnings per Share Ratios are negative and so unusable. The corresponding 10 year ratios are also negative and so unusable. The corresponding historical ratios are 6.45, 8.45 and 10.12. The current ratios are negative, so no testing can be done here.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are negative and so unusable. The corresponding 10 year ratios are also negative and so unusable. The corresponding historical ratios are 7.35, 9.16 and 10.74. The current ratios are negative, so no testing can be done here.

I can do not Graham Price testing because the EPS is negative and the book value is negative.

I get a 10-year median Price/Book Value per Share Ratio of 0.78. However, the current ratio is negative because the book value is negative, so I cannot do any stock price testing here.

I get a 10-year median Price/Cash Flow per Share Ratio of 2.65. The current ratio is 0.77 based on Cash Flow per Share estimate for 2026 of $1.42, Cash Flow of $45M and a stock price of $1.10. The current ratio is 70% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap. This testing is in US$ and you will get a similar result in CDN$.

I cannot do any dividend yield testing as the company has suspended its dividends.

The 10-year median Price/Sales (Revenue) Ratio is 0.15. The current ratio is 0.03 based on Revenue estimate for 2026 of $1,132M, Revenue per Share of $35.74 and a stock price of $1.10. The current ratio is 79% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap. This testing is in US$ and you will get a similar result in CDN$.

Results of stock price testing is that the stock price is probably cheap. I can only do a P/S Ratio test and a P/B Ratio test. Both are saying that the stock price is relatively cheap.

When I look at analysts’ recommendations, I find one recommendation of Hold (2). The consensus is a Hold. The 12 months stock price consensus is $2.07 CDN$ ($1.46 US$) with a high of $2.07 CDN$ ($1.46 US$) and a Low of $2.07 CDN$ ($1.46 US$). The stock price consensus of $2.07 implies a total return of 32.39% all from capital gains based on a current stock price of $1.56.

The last entry on Stock Chase was dated 2023 and it was a Do Not Buy and saying the company has never done anything. There were Do Not Buys in 2019 and 2018. In August 2018 was a Buy. Amy Legate-Wolfe on Motley Fool in February 2023 talked of this company being incredibly cheap with potential. The company put out a press release about their fourth quarter of 2025 results. The company put out a press release about their first quarter results for 2026.

Simply Wall Street via Yahoo Finance reviews this stock and likes the fact that a number of insiders are buying. They are cautious because the company did not make a profit in the last 12 months before their report of June 2026. Simply Wall Street has 4 warnings out on this stock of negative shareholders’ equity; earnings have declined by 16.7% per year over past 5 years; has less than 1 year of cash runway; and does not have a meaningful market cap (CA$59M).

Dorel Industries Inc is a Canadian company that sells juvenile products and furniture. Its reporting segments include Dorel Home and Dorel Juvenile. Geographically, it derives key revenue from the United States, followed by Europe, Latin America, Canada, Asia, and other regions. Its web site is here Dorel Industries Inc .

The last stock I wrote about was about was TMX Group Ltd (TSX-X, OTC-TMXXF) ... learn more. The next stock I will write about will be TECSYS Inc (TSX-TCS, OTC-TCYSF) ... learn more on Wednesday, July 22, 2026 around 5 pm. Tomorrow on my other blog I will write about Hated Bull Market in History.... learn more on Tuesday, July 21, 2026 around 5 pm.

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