Badger Infrastructure Solutions Ltd

Sound bite for Twitter is: Dividend Growth Industrial. Results of stock price testing is that the stock price could be reasonable, but certainly at the high end. Debt Ratios are generally good. The Dividend Payout Ratios (DPR) are generally good. The current dividend yield is low with dividend growth low. See my spreadsheet on Badger Infrastructure Solutions Ltd.

Is it a good company at a reasonable price? This company is growing, but rather unevenly, but it is growing. The risk level is high on this stock. I like the dividend yield tests because it tells you a lot about how people at a company think about their company. The stock price might still be reasonable, but if you buy, you should be cautious of the risks.

I do not own this stock of Badger Infrastructure Solutions Ltd (TSX-BDGI, OTC-BDGIF). I started to follow this stock after reading a couple of articles in February 2012 in the G&M that talked about the company. The first article looked at what the pros who manage small-cap funds are buying. Badger was one of 10 stocks mentioned and it looked like an interesting stock. It is a dividend paying small cap. The second article looked at why stocks might appeal to a conservative investor looking for income.

When I was updating my spreadsheet, I noticed the US symbol is now BDGIF. It used to be BADFF. I do not know when this change was made. I noticed that the stock price has increased by 58% in 2025. This is a nice increase and will give people who bought this stock in the last 5 or 10 years, a better return than they received at the end of 2024.

If you had invested in this company in December 2014, for $1,005.10 you would have bought 38 shares at $26.45 per share. In December 2024, after 10 years you would have received $204.78 in dividends. The stock would be worth $1,363.44. Your total return would have been $1,568.22. This would be a total return of 4.84% per year with 3.10% from capital gain and 1.74% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$26.45	$1,005.10	38	10	$204.78	$1,363.44	$1,568.22

The current dividend yield is low with dividend growth low. The current dividend yield is low (under2%) at just 1.40%. The 5, 10 and historical median dividend yields are also low at 1.91%, 1.65%, and 1.99%. The dividend growth is low (below 8% per year) at 4.8% per year over the past 5 years. The last dividend increase was in 2025 and it was for 4.2%.

The Dividend Payout Ratios (DPR) are generally good. The DPR for 2024 for Earnings per Share (EPS) is good at 36% with 5 year coverage high at 67%. The DPR for 2024 for Adjusted Operations Cash Flow (AOCF) is good at 10% with 5 year coverage at 16%. The DPR for 2024 for Cash Flow per Share (CFPS) is good at 10% with 5 year coverage at 14%. The DPR for 2024 for Free Cash Flow (FCF) is too high at 74% with 5 year coverage at 93%. But there is no agreement on what the FCF is. The range for 2024 is from $35.2M to $69.6M. My calculation used the lower figure.

Item	Cur	5 Years
EPS	35.62%	67.21%
AOCF	9.69%	16.42%
CFPS	9.63%	13.91%
FCF	73.64%	93.18%

Debt Ratios are generally good. The Long Term Debt/Market Cap Ratio for 2024 is good at 0.20 and currently at 0.16. The Liquidity Ratio for 2024 is fine at 1.43 and 1.56 currently. If you added in Cash Flow after dividends, the ratios are good at 2.32 and currently at 2.59. The Debt Ratio for 2024 is good at 1.63 and 1.59 currently. The Leverage and Debt/Equity Ratios for 2024 are fine at 2.59 and 1.59 and currently at 2.70 and 1.70.

Type	Year End	Ratio Curr
Lg Term R	0.20	0.16
Intang/GW	0.03	0.02
Liquidity	1.43	1.56
Liq. + CF	2.32	2.59
Debt Ratio	1.63	1.59
Leverage	2.59	2.70
D/E Ratio	1.59	1.70

The Total Return per year is shown below for years of 5 to 27 to the end of 2024 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.
2019	5	4.84%	2.20%	0.42%	1.78%
2014	10	7.07%	4.84%	3.10%	1.74%
2009	15	3.59%	18.77%	14.43%	4.35%
2004	20	7.07%	13.29%	9.55%	3.74%
1999	25		14.52%	11.01%	3.51%
1997	27		10.77%	8.46%	2.31%

The Total Return per year is shown below for years of 5 to 20 to the end of 2024 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.
2019	5	2.72%	-0.46%	-2.25%	1.79%
2014	10	4.78%	1.87%	0.23%	1.65%
2009	15	1.41%	16.35%	11.95%	4.40%
2004	20	6.12%	14.37%	9.51%	4.85%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 17.67, 21.65 and 22.64. The corresponding 10 year ratios are 17.51, 22.35 and 27.21. The corresponding historical ratios are 11.54, 15.82 and 19.23. The current ratio is 20.16 based on a stock price of $53.40 and EPS estimate for 2025 of $2.65. The current ratio is between the low and median ratios of the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I also have Adjusted Operations Cash Flow (AOCF). The 5-year low, median, and high median Price/ Adjusted Operations Cash Flow Ratios are 5.42, 7.27 and 8.34. The corresponding 10 year ratios are 6.40, 8.31 and 10.60. The corresponding historical ratios are 6.60, 8.71 and 10.82. The current ratio is 6.71 based on a stock price of $53.40 and AOCF for the last 12 months of $7.96. The current ratio is between the low and median ratios of the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a Graham Price of $25.49. The 10-year low, median, and high median Price/Graham Price Ratios are 1.57, 2.05 and 2.47. The current P/GP Ratio is 2.10 based on a stock price of $53.40. 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 10-year median Price/Book Value per Share Ratio of 3.44. The current ratio is 4.90 based on a Book Value of $367.7M, Book Value per Share of $10.90, and a stock price of $53.40. The current ratio is 42% 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 2025 of $12.43. This implies a ratio of 4.30 and a Book Value of $419.4M. This ratio is 25% 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 10.07. The current ratio is 7.79 based on Cash Flow per Share estimate for 2025 of $6.858, Cash Flow of $231.4M and a stock price of $53.40. This ratio is 23% 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 1.99%. The current dividend yield is 1.40% based on dividends of $0.743 and a stock price of $53.40. The current dividend yield is 29% 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 1.65%. The current dividend yield is 1.40% based on dividends of $0.743 and a stock price of $53.40. The current dividend yield is 15% below the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively reasonable but above the median.

The 10-year median Price/Sales (Revenue) Ratio is 1.94. The current P/S Ratio is 1.64 based on Revenue estimate for 2025 of $805M, Revenue per Share of $23.86 and a stock price of $53.40. The current ratio is 14% 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 could be reasonable, but certainly at the high end. The 10 year dividend yield test says that the stock price is reasonable but above the median. The P/S Ratio test is saying that the stock price is reasonable and below the median. The rest of the testing ranges from cheap to expensive. The Graham Test is a good one and it says that the stock price is reasonable and below the median.

When I look at analysts’ recommendations, I find Strong Buy (3), Buy (2), and Hold (2). The consensus would be a Buy. The 12 month stock price consensus is $58.64 with a high of $63.00 and low of $50.00. The consensus 12 month stock price implies a total return of 11.22% with 9.81% from capital gains and 1.40% from dividends based on a current stock price of $53.40.

There are few analysts on Stock Chase covering this stock. The one for this year calls it a buy. The ones for last year called it a buy also. Christopher Liew on Motley Fool says that this company has had a great start to its year with the June quarterly report. Karen Thomas on Motley Fool says that this is a stock to buy and hold for the long term. The company put out via The Canadian Press a press release on their 2024 annual results. The company put out a Press Release on their second quarter of 2025.

Simply Wall Street via Yahoo Finance put out a positive report on this stock. They have one warning of has a high level of debt.

Badger Infrastructure Solutions Ltd is North America's provider of non-destructive excavating and related services, with operations in both the United States and Canada. Badger's two reportable segments are Canada and the United States, which is the key revenue generating market. Its web site is here Badger Infrastructure Solutions Ltd.

The last stock I wrote about was about was Superior Plus Corp (TSX-SPB, OTC-SUUIF) ... learn more. The next stock I will write about will be GFL Environmental Inc (TSX-GFL, NYSE-GFL) ... learn more on Wednesday, August 20, 2025 around 5 pm. Tomorrow on my other blog I will write about Automakers and Subscriptions.... learn more on Tuesday, August 19, 2025 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.

Superior Plus Corp

Sound bite for Twitter is: Dividend Paying Industrial. Results of stock price testing is that the stock price could be cheap. Debt Ratios need improving and showing far too much debt. The Dividend Payout Ratios (DPR) will probably be fine going forward. The current dividend yield is moderate with dividend growth negative. See my spreadsheet on Superior Plus Corp.

Is it a good company at a reasonable price? With this stock, I would worry about the amount of the debt and the lack of growth in revenue. I think that they should have cut the dividend a lot more when they because a corporation in 2009. I would not be currently interested in this stock. However, my testing is showing that the stock price is relatively cheap.

I do not own this stock of Superior Plus Corp (TSX-SPB, OTC-SUUIF). I started to follow this stock as it was an income trust company that was talked about in the Money Reporter from MPL Communications. This company changed to a corporation from a Unit Trust (TSX-SPF.UN) in 2009.

When I was updating my spreadsheet, I noticed this company did a lot better in the first quarter of 2025 with Revenue, Earnings and Cash Flow all increasing. Analysts think that the company will be doing better in 2025 with increasing Revenue, Earnings and Cash Flow. This company changed their reporting currency to US$ in 2024.

If you had invested in this company in December 2014, for $1,007.16 you would have bought 84 shares at $11.99 per share. In December 2024, after 10 years you would have received $594.72 in dividends. The stock would be worth $536.76. Your total return would have been $1,131.48. This would be a total return of 1.56% per year with 6.10% from capital loss and 7.66% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$11.99	$1,007.16	84	10	$594.72	$536.76	$1,131.48

The current dividend yield is moderate with dividend growth negative. The current dividend yield is moderate (2% to 4% ranges) at 2.65%. The 5, 10 year and historical median dividend yields are good (5% to 6% ranges) at 6.32%, 6.22% and 6.51%. The dividend growth over the past 5 years is 0%. This is because dividends were flat 2015. Dividends were changed from monthly to quarterly in 2023. Dividends were cut in 2025 by 75%.

The Dividend Payout Ratios (DPR) will probably be fine going forward. The DPR for 2024 for Earnings per Share (EPS) are non-calculable currently because of an earning loss with 5 year coverage far too high at 407%%. The DPR for 2024 for Adjusted Operations Cash Flow (AOCF) is too high at 51% with 5 year coverage fine at 41%. The DPR for 2024 for Cash Flow per Share (CFPS) is good at 27% with 5 year coverage at 29%. The DPR for 2024 for Free Cash Flow (FCF) is too high at 153% with 5 year coverage at 112%. There is no agreement on what the FCF is and the values for 2024 range from 97.3M to 163.1M. Analysts expect the DPR for Earnings per Share to be around 29% in 2025 because of the dividend cut.

Item	Cur	5 Years
EPS	-333.59%	407.42%
AOCF	50.54%	41.12%
CFPS	27.02%	29.49%
FCF	153.24%	111.89%

Debt Ratios need improving and showing far too much debt. The Long Term Debt/Market Cap Ratio for 2024 is far too high at 1.61 and currently at 1.49. This ratio is best around 0.50 and you certainly want it under 1.00. The Intangible and Goodwill ratio is far too high at 2.08 and 1.60 currently. The Liquidity Ratio for 2024 is far too low at 0.95 and ok at 1.25 currently. If you added in Cash Flow after dividends, the ratio is far too low at 0.78 and currently fine at 1.82. The Debt Ratio for 2024 is fine at 1.45 and good at 1.53 currently. The Leverage and Debt/Equity Ratios for 2024 are far too high at 4.16 and 2.87 and currently at 3.62 and 2.36. These need to be below 3.00 and 2.00.

Type	Year End	Ratio Curr
Lg Term R	1.61	1.49
Intang/GW	2.08	1.60
Liquidity	0.95	1.25
Liq. + CF	0.78	1.82
Debt Ratio	1.45	1.53
Leverage	4.16	3.62
D/E Ratio	2.87	2.36

The Total Return per year is shown below for years of 5 to 28 to the end of 2024 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.
2019	5	0.00%	-5.42%	-12.64%	7.22%
2014	10	1.67%	1.56%	-6.10%	7.66%
2009	15	-5.26%	2.24%	-5.38%	7.62%
2004	20	-5.95%	-0.88%	-4.02%	3.14%
1999	25	-2.94%	11.59%	-2.86%	14.45%
1996	28	-1.17%	10.44%	-2.69%	13.12%

The Total Return per year is shown below for years of 5 to 21 to the end of 2024 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.
2019	5	-2.03%	-7.16%	-14.49%	7.33%
2014	10	-0.49%	-0.67%	-8.06%	7.39%
2009	15	-7.25%	0.34%	-7.33%	7.67%
2004	20	-6.79%	-0.94%	-8.24%	7.30%
2003	21	-5.82%	2.11%	-6.92%	9.02%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 12.22, 14.09 and 15.96. The corresponding 10 year ratios are 8.09, 9.71 and 11.20. The corresponding historical ratios are 12.22, 14.90 and 18.18. The current ratio is 10.95 based on a stock price of $6.79 and EPS estimate for 2025 of $0.62. 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 $9.31. The 10-year low, median, and high median Price/Graham Price Ratios are 1.07, 1.28 and 1.60. The current ratio is 0.73 based on a stock price $6.79. 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 1.91. The current ratio is 1.09 based on a stock price of $6.79, Book Value of $1,387M and Book Value per Share of $6.22. The current ratio is 43% below the 10 year median ratios. 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 7.07. The current ratio is 3.36 based on a stock price of $6.79, Cash Flow per Share estimate for 2025 of $2.02 and Cash Flow of $450.9M. The current ratio is 53% 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 6.51%. The current dividend yield is 2.65% based on a stock price of $6.79 and dividends of $0.18. The current dividend yield is 59% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive. This stock used to be an income trust and therefore could have a high dividend yield. They have just decreased their dividends after having them flat for a long time. So, this is not a good test.

I get a 10 year median dividend yield of 6.22%. The current dividend yield is 2.65% based on a stock price of $6.79 and dividends of $0.18. The current dividend yield is 57% below the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively expensive. This stock used to be an income trust and therefore could have a high dividend yield. They have just decreased their dividends after having them flat for a long time. So, this is not a good test.

The 10-year median Price/Sales (Revenue) Ratio is 0.72. The current P/S Ratio is 0.40 based on Revenue estimate for 2025 pf $3,785M, Revenue per Share of $16.97 and a stock price of $6.79. The current ratio is 44% below the 10 year median ratio.

Results of stock price testing is that the stock price could be cheap. The dividend yield tests say the stock price is expensive, but this test works best on dividend growth stocks. This company used to be an income trust and they should have cut the dividend more when they because a corporation in 2009. The P/S Ratio test says that the stock is relatively cheap. The rest of the testing says that the stock price is relatively cheap except for the P/E Ratio test that says it is reasonable but above the median.

When I look at analysts’ recommendations, I find Strong Buy (3), Buy (5), and Hold (2). The consensus would be a Buy. The 12 month stock price consensus is $9.63 with a high of $12.00 and low of $7.50. The consensus stock price of $9.63 implies a total return of 44.48% with 41.83% from capital gains and 2.65% from dividends.

Analysts on Stock Chase sort of like this company. One analyst says that the dividend cut is a game-changer for him and I understand that. Christopher Liew on Motley Fool thinks this stock is a safe long-term holding. Amy Legate-Wolfe on Motley Fool reviews this stock but seems to miss the dividend changes. The company put out a Press Release about their fourth quarter of 2024 results. The company put out a Press Release about their first quarter of 2025.

Simply Wall Street via Yahoo Finance puts out a review on this stock. They have two warnings out on this stock of interest payments are not well covered by earnings; and unstable dividend track record.

Superior Plus Corp is a Canadian-based company that distributes energy and specialty chemicals. The company is organized into four business segments: U.S. Propane Distribution, Canadian Propane Distribution, Wholesale Propane Distribution and Certarus, out of which the majority is from the U.S. Propane segment. Its web site is here Superior Plus Corp.

The last stock I wrote about was about was Evertz Technologies Ltd (TSX-ET, OTC-EVTZF) ... learn more. The next stock I will write about will be Badger Infrastructure Solutions Ltd (TSX-BDGI, OTC-BADFF) ... learn more on Monday, August 18, 2025 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.

Evertz Technologies Ltd

Sound bite for Twitter is: Dividend Growth Tech. Results of stock price testing is that the stock price is probably cheap. Debt Ratios are good. The Dividend Payout Ratios (DPR) are too high and need to improve. The current dividend yield is good with dividend growth low. See my spreadsheet on Evertz Technologies Ltd.

Is it a good company at a reasonable price? I am holding on to my shares at this time. I still think that this could be a good company for me. It is, of course, a risky buy. I have this stock in my main trading account. I also have it in my TFSA, which is my fooling around money. This stock is testing as relatively cheap and it probably is.

I own this stock of Evertz Technologies Ltd (TSX-ET, OTC-EVTZF). I got the idea to investigate this stock from a G&M Article. It looked like something I might want to try out. This stock came up in a stock screen filter article that was looking for reliable dividend payers. That is companies that have reliable profits big enough to comfortably cover their dividend payments. This was in 2011.

When I was updating my spreadsheet, I noticed I bought this as a small cap tech that I hoped would become a backbone stock. It has not. I have had this stock since 2011 and then several more purchases. I have made 4.10% per year with a capital loss of 2.98% and dividends at 7.08%. More than half the company is owned by the CEO and Chairman. Within the last year, the CFO bought more shares, some around $12.00 and some around $10.75.

Note that the annual report I am reviewing is for the fourth quarter of 2026 dated April 30, 2025. April 30 each year is the annual reporting period for this stock.

If you look at the chart on this company, there was a huge spike in the stock price in 2007 and then the stock price went up and down, but results in a rather flat stock price. There was a spike down in the stock price in 2020 and then the stock price when up and down, but at a lower level than before 2020.

If you had invested in this company in December 2014, for $1,003.20 you would have bought 57 shares at $17.60 per share. In December 2024, after 10 years you would have received $578.55 in dividends. The stock would be worth $718.20. Your total return would have been $1,296.75. This would be a total return of 3.37% per year with 3.29% from capital loss and 6.66% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$17.60	$1,003.20	57	10	$578.55	$718.20	$1,296.75

The current dividend yield is good with dividend growth low. The dividend yield is good (5% to 6% ranges) at 6.66%. The 5 year median dividend yield is good at 5.80%. The 10 year and historical dividend yields are moderate (2% to 4% ranges) at 4.75% and 4.10%. The dividend growth is low (below 8% per year) at just 1.9% per year over the last 5 years. The last dividend increase was in 2025 and it was for 2.6%.

The Dividend Payout Ratios (DPR) are too high and need to improve. The DPR for 2024 for Earnings per Share (EPS) is far too high at 103% with 5 year coverage at 113%. The DPR for 2024 for Cash Flow per Share (CFPS) is far too high at 67% with 5 year coverage at 73%. The DPR for 2024 for Free Cash Flow (FCF) is far too high at 88% with 5 year coverage at 94%. There is no agreement on what the FCF and for 2025 ranges is from $66.6M to 91.7M. I am using the lower range.

Item	Cur	5 Years
EPS	102.60%	113.47%
CFPS	67.31%	73.78%
FCF	87.97%	94.20%

Debt Ratios are good. The Long Term Debt/Market Cap Ratio for 2024 is good at 0.08 and currently at 0.07. The Liquidity Ratio for 2024 is good at 2.14 and 2.14 currently. The Debt Ratio for 2024 is good at 2.37 and 2.37 currently. The Leverage and Debt/Equity Ratios for 2024 are good at 1.73 and 0.73 and currently at 1.73 and 0.73.

Type	Year End	Ratio Curr
Lg Term R	0.08	0.07
Intang/GW	0.02	0.02
Liquidity	2.14	2.14
Liq. + CF	2.35	2.27
Debt Ratio	2.37	2.37
Leverage	1.73	1.73
D/E Ratio	0.73	0.73

The Total Return per year is shown below for years of 5 to 18 to the end of 2024. 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.
2019	5	1.87%	-0.91%	-6.74%	5.83%
2014	10	1.51%	3.37%	-3.29%	6.66%
2009	15	6.21%	6.58%	-0.46%	7.04%
2006	18	8.42%	5.43%	-0.42%	5.85%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 12.56, 15.29 and 17.87. The corresponding 10 year ratios are 13.82, 16.26 and 19.13. The corresponding historical ratios are 14.04, 16.94 and 19.68. The current ratio is 16.47 based on a stock price of $12.02 and EPS estimate for 2026 of $0.73. 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 $7.63. The 10-year low, median, and high median Price/Graham Price Ratios are 1.39, 1.64 and 1.95. The current ratio is 1.58 based on a stock price of $12.02. 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 3.77. The current ratio is 3.39 based on a stock price of $12.02, Book Value of $268.6M, and Book Value per Share of $3.55. The current ratio is 10% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10-year median Price/Cash Flow per Share Ratio of 13.17. The current ratio is 10.73 based on Cash Flow per Share estimate for 2026 of $1.12, Cash Flow of $84.8M and a stock price of $12.02. The current ratio is 19% 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 4.10%. The current dividend yield is 6.66% based on a dividend of $0.80 and a stock price of $12.02. The current dividend yield is 62% 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 4.75%. The current dividend yield is 6.66% based on a dividend of $0.80 and a stock price of $12.02. The current dividend yield is 40% 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 2.69. The current P/S Ratio is 1.73 based on Revenue estimate for 2026 of $526.9M, Revenue per Share of $6.96 and a stock price of $12.02. The current ratio is 36% below the 10 yar 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 this and it is confirmed by the P/S Ratio test. However, most of the rest of the testing is saying that the stock price is reasonable and below the median.

When I look at analysts’ recommendations, I find Strong Buy (2) and Buy (1). The consensus would be a Strong Buy. The 12 month stock price consensus is $13.92 with a high of $12.25 and low of $13.50. The consensus stock price of $13.92 implies a total return of 22.46% with 15.81% from capital gains and 6.66% from dividends based on a current stock price of $12.02.

Last year, when I look at analysts’ recommendations, I found Strong Buy (1), Buy (2). The consensus would be a Strong Buy. The 12 months stock price consensus was $17.17 with a high of $17.50 and low of $17.00. The consensus stock price of $17.17 implied a total return of 44.29% with 38.02% from capital gains and 6.27% from dividends based on a stock price of $12.44. What happened was that the stock price fell from $12.44 to $12.02 a loss of 3.38%. Therefore the total return would have been 2.89% with a capital loss of 3.38% and dividends of 6.27%.

There is one entry on Stock Chase for this stock and it is a Buy. Christopher Liew on Motley Fool reviews this stock and says it is a gem. Adam Othman on Motley Fool reviewed this stock last year and said that the high Dividend Payout Ratio makes it seem like a risky investment. The company put out a press release via Globe and Mail on their fourth quarter for 2025 dated April 30, 2025.

Simply Wall Street via Yahoo Finance reviews this stock and says it is a promising small cap. It has one warning of dividend of 6.68% is not well covered by earnings.

Evertz Technologies Ltd is a Canadian provider of telecommunications equipment and technology solutions to the television broadcast and new-media industries. More than half of the firm's revenue is generated in the United States. Its web site is here Evertz Technologies Ltd.

The last stock I wrote about was about was Andrew Peller Ltd (TSX-ADW.A, OTC-ADWPF) ... learn more. The next stock I will write about will be Superior Plus Corp (TSX-SPB, OTC-SUUIF) ... learn more on Friday, August 15, 2025 around 5 pm. Tomorrow on my other blog I will write about Compounding Quality.... learn more on Thursday, August 14, 2025 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.

Andrew Peller 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 fine. Most Dividend Payout Ratios (DPR) need improving. The current dividend yield is moderate with dividend growth low. See my spreadsheet on Andrew Peller Ltd.

Is it a good company at a reasonable price? I think that this stock is cheap for a reason. Growth is low and they are paying too much out in dividends. The dividend payouts are set to moderate according to analysts, but they do not expect much growth in Revenue and Earnings over the next couple of year. A plus is that they have been paying dividends each year for the past 46 years. Over the past 37 years, they have raised the dividends 16 times. This stock is certainly testing as cheap.

I do not own this stock of Andrew Peller Ltd (TSX-ADW.A, OTC-ADWPF), but I used to. This stock was on Mike Higgs' dividend growth stock list. I owned this stock as Andres Wines Ltd between 1996 and 2000. When I held this stock, it was called Andres Wines Ltd. I sold in 2000 and I only made a total return of 5.41% per year with capital gains at 0.06% and dividends at 5.35%.

When I was updating my spreadsheet, I noticed that growth in Revenue has been low. Revenue growth is important because if this does not grow there is not much hope for revenue and cash flow growth. They are paying too much in dividends, but analyst expect DPR to be in the 50% ranges this year and next. It would be better in the 40% ranges. Analysts do not expect much growth this year or next.

If you had invested in this company in December 2014, for $1,004.67 you would have bought 200 shares at $5.02 per share. In December 2024, after 10 years you would have received $416.72 in dividends. The stock would be worth $828.00. Your total return would have been $1,244.72. This would be a total return of 2.53% per year with 1.92% from capital loss and 4.45% from dividends. The thing with dividend stocks is that you tend not to lose money overall.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$5.02	$1,004.67	200	10	$416.72	$828.00	$1,244.72

The current dividend yield is moderate with dividend growth low. The current dividend yield is moderate (2% to 4% ranges) at 4.50%. The 5, 10 and historical median dividend yields are also moderate at 4.19%, 2.15% and 3.72%. The dividend growth is low (below 8% per year) at 3% per year over the past 5 years. The last dividend increase was in 2022 and it was for 9.04%. There have been no dividend increases since. There is no information on what the dividend increases might resume. However, they have never raised the dividends each year. `

Most Dividend Payout Ratios (DPR) need improving. The DPR for 2024 for Earnings per Share (EPS) is too high at 97% with 5 year coverage at 117%. The DPR for 2024 for Adjusted Earnings per Share (AEPS) is too high at 103% with 5 year coverage at 134%. The DPR for 2024 for Cash Flow per Share (CFPS) is good at 17% with 5 year coverage at 30%. The DPR for 2024 for Free Cash Flow (FCF) is good at35% with 5 year coverage too high at 72%.

Item	Cur	5 Years
EPS	97.27%	116.54%
AEPS	102.66%	134.26%
CFPS	17.43%	30.40%
FCF	35.48%	71.95%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2024 is fine at 0.86 and currently at 0.74, but would be better if the values were 0.50 or under. The Liquidity Ratio for 2024 is good at 3.40 and 3.40 currently. The Debt Ratio for 2024 is good at 1.81 and 1.81 currently. The Leverage and Debt/Equity Ratios for 2024 are fine at 2.23 and 1.23 and currently at 2.23 and 1.23.

Type	Year End	Ratio Curr
Lg Term R	0.86	0.74
Intang/GW	0.43	0.37
Liquidity	3.40	3.40
Liq. + CF	4.17	3.83
Debt Ratio	1.81	1.81
Leverage	2.23	2.23
D/E Ratio	1.23	1.23

The Total Return per year is shown below for years of 5 to 40 to the end of 2024 for Class A stock. 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.
2019	5	2.96%	-15.73%	-18.91%	3.18%
2014	10	6.18%	2.53%	-1.92%	4.45%
2009	15	5.51%	8.39%	3.15%	5.24%
2004	20	6.36%	5.50%	1.43%	4.07%
1999	25	5.06%	8.88%	3.95%	4.94%
1994	30	4.46%	8.99%	4.00%	4.99%
1989	35	3.81%	8.77%	3.34%	5.43%
1984	40	3.60%	7.38%	2.96%	4.42%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 11.86, 14.96 and 18.05. The corresponding 10 year ratios are 12.87, 17.92 and 21.79. The corresponding historical ratios are 11.45, 13.26 and 14.76. The current ratio is 12.72 based on a stock price of $5.47 and EPS estimate for 2026 is $0.43. 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/Adjusted Earnings per Share Ratios are 12.21, 15.40 and 18.59. The corresponding 10 year ratios are 13.24, 17.30 and 21.91. The corresponding historical ratios are 11.24, 14.45 and 15.92. The current ratio is 11.64 based on a stock price of $5.47 and AEPS estimate for 2026 is $0.47. 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 $7.71. The 10-year low, median, and high median Price/Graham Price Ratios are 0.98, 1.33 and 1.67. The current ratio is 0.71 based on a stock price of $5.47. 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 1.71. The current ratio is 0.97 based on a stock price of $5.47, Book Value of $243.8M and Book Value per Share of $5.62. The current ratio is below the 10 year Ratio by 43%. 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 14.51. The current ratio is 6.08 based on Cash Flow per Share estimate for 2026 of $0.90, Cash Flow of $39M, and a stock price of $5.47. The current ratio is below the 10 year median ratio by 58%. This stock price testing suggests that the stock price is relatively cheap.

I get an historical median dividend yield of 3.72%. The current dividend yield is 4.50% based on dividends of $.246 and a stock price of $5.47. The current ratio is 21% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get an historical median dividend yield of 2.15%. The current dividend yield is 4.50% based on dividends of $.246 and a stock price of $5.47. The current ratio is 109% 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 1.05. The current ratio is 0.60 based on Revenue estimate for 2026 of $393.6M, Revenue per Share of $9.08 and a stock price of $5.47. The current ratio is 43% 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 testing is saying this. It is confirmed by the P/S Ratio test. All the tests are saying the same thing, that the stock price is relatively cheap.

When I look at analysts’ recommendations, I find only Strong Buy (2). The 12 months stock price is $12.00 with a high of $13.50 and low of $10.50. The 12 month stock price of $12.00 implies a total return of 123.88% with 119.38% from capital gains and 4.50% from dividends based on a current stock price of $5.47.

The last analyst comment was in 2024 on Stock Chase. Analyst said Do Not Buy. He saw the future uncertain because of Ontario rolling out more retail locations. A comment in 2023 was that the price dropped due to slow growth and supply chain issues. Brian Paradza on Motley Fool thinks this company will gain because of US wine being pulled from Canadian shelves. This is not a well followed stock and the comment prior was in 2023. Daniel Da Costa on Motley Fool thinks that this is a highly defensive stock. The company put out a Press Release about their fourth quarter results for March 2025.

Simply Wall Street via Yahoo Finance review this stock. They like it that it is up 17% in the previous quarter, but says that does not change the fact that shareholders have losses over the past 5 years. Simply Wall Street has 3 warnings out on this stock of interest payments are not well covered by earnings; earnings have declined by 55.5% per year over past 5 years; and dividend of 4.52% is not well covered by earnings.

Andrew Peller Ltd is a wine-producing company. The company is engaged in the production, bottling, and marketing of wine, spirits, and craft beverage alcohol products in Canada. Some of the company's brands are Peller Estates, Trius Winery, Thirty Bench, Wayne Gretzky, Sandhill, Red Rooster, Calona Vineyards, and many more. The Company owns and operates independent retail locations in Ontario under The Wine Shop, Wine Country Vintners, and Wine Country Merchants store. Its web site is here Andrew Peller Ltd.

The last stock I wrote about was about was BlackBerry Ltd (TSX-BB, NYSE-BB) ... learn more. The next stock I will write about will be Evertz Technologies Ltd (TSX-ET, OTC-EVTZF) ... learn more on Wednesday, August 13, 2025 around 5 pm. Tomorrow on my other blog I will write about George Friedman on Russia.... learn more on Tuesday, August 11, 2025 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.

BlackBerry Ltd

Sound bite for Twitter is: Canadian Tech Stock. Results of stock price testing is that the stock price is probably reasonable and below the median. Debt Ratios are good. This stock has no dividend so there is no dividend yield and no Dividend Payout Ratios (DPR). See my spreadsheet on BlackBerry Ltd.

Is it a good company at a reasonable price? The stock price (and the company) had a high in 2008 and stock price has been declining ever since. Revenue has been declining since 2012. They have not done much in earnings neither. Analysts seem to think that both Revenue and Earnings will turn up over the next couple of years. Perhaps. This stock cannot be thought of anything else but high risk. Analysts give it a Hold. That is unusual as mostly analysts give stock a Strong Buy or Buy rating. It is testing as reasonable.

I do not own this stock of BlackBerry Ltd (TSX-BB, NYSE-BB). I bought this stock for capital gain. I first bought it in 1999 and then some more in 2000. I sold some in 2006 and 2007 to lock in some profit. I sold the rest of my stock in 2010.

When I was updating my spreadsheet, I noticed that only one of the current directors has any shares in the company and this includes the Chairman. However, all the officers that I follow, including the CEO have increased their shares in the company over the past year. I noticed that the Chairman is the same as for the last couple of year, but the three other directors I was following have gone.

I made a total return of 20.18% per year on this stock. However, if I had continued to hold my shares until recently, I would have lost 4.25% per year.

If you had invested in this company in December 2014, for $1,006.46 you would have bought 79 shares at $12.74 per share. In December 2024, after 10 years you would have received $0.00 in dividends. The stock would be worth $431.34. Your total return would have been $431.34. This would be a total loss of 8.18% per year with 8.18% from capital loss and 0.00% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$12.74	$1,006.46	79	10	$0.00	$431.34	$431.34

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

Debt Ratios are good. The Long Term Debt/Market Cap Ratio for 2024 is good at 0.0.07 and currently at 0.09. The Liquidity Ratio for 2024 is good at 1.72 and 2.10 currently. The Debt Ratio for 2024 is good at 2.25 and 2.49 currently. The Leverage and Debt/Equity Ratios for 2024 are good at 1.80 and 0.80 and currently at 1.67 and 0.67.

Type	Year End	Ratio Curr
Lg Term R	0.07	0.09
Intang/GW	0.62	0.74
Liquidity	1.72	2.10
Liq. + CF	2.27	2.27
Debt Ratio	2.25	2.49
Leverage	1.80	1.67
D/E Ratio	0.80	0.67

The Total Return per year is shown below for years of 5 to 28 to the end of 2024 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.
2019	5	0.00%	-8.15%	-8.15%	0.00%
2014	10	0.00%	-8.12%	-8.12%	0.00%
2009	15	0.00%	-15.72%	-15.72%	0.00%
2004	20	0.00%	-8.59%	-8.59%	0.00%
1999	25	0.00%	-2.81%	-2.81%	0.00%
1996	28	0.00%	5.53%	5.53%	0.00%

The Total Return per year is shown below for years of 5 to 28 to the end of 2024 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.
2019	5	0.00%	-10.05%	-10.05%	0.00%
2014	10	0.00%	-10.11%	-10.11%	0.00%
2009	15	0.00%	-17.49%	-17.49%	0.00%
2004	20	0.00%	-9.44%	-9.44%	0.00%
1999	25	0.00%	-2.81%	-2.81%	0.00%
1996	28	0.00%	5.33%	5.33%	0.00%

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 unusable. The corresponding historical ratios are 5.87, 9.96 and 12.55. The current P/E Ratio is 60.01 based on a stock price of $4.94 and EPS estimate for 2026 of $0.06. This P/E Ratio is very high. This stock price testing suggests that the stock price is relatively expensive. This testing is in CDN$.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 20.30, 87.73 and 115.23. The corresponding 10 year ratios are 62.70, 87.90 and 115.16. The corresponding historical ratios are 8.75, 16.77 and 25.54. The current P/AEPS Ratio is 40.01 based on a stock price of $4.94 and AEPS estimate for 2026 of $0.12. Ratio is very high, but then this company either had earnings losses or very low earnings in most years. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap. This testing is in CDN$.

I get a Graham Price of $2.15. The 10-year low, median, and high median Price/Graham Price Ratios are 2.00, 3.43 and 4.43. The current P/GP Ratio is 2.29 based on a stock price of $4.94. The current ratio is between the low and median ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median. This testing is in CDN$.

I get a 10-year median Price/Book Value per Share Ratio of 2.41. The current P/B Ratio is 2.94 based on a Book Value of $725M, Book Value per Share of $1.22 and a stock price of $3.58. The current ratio is 23% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive. This testing is in US$.

This testing in CDN$ is different and testing in CDN$ shows that the current ratio is only 7% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median. US$ and CDN$ testing does not always agree on this stock, but I can not find anything wrong with my spreadsheet. Generally, testing in CDN$ and US$ are close.

I get a 10-year median Price/Cash Flow per Share Ratio of 7.91. The current ratio is 51.14 based on Cash Flow per Share estimate for 2026 of $0.07, Cash Flow of $42.00 and a stock price of $3.58. The current ratio is 547% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive. This testing is in US$. You will get a similar answer in CDN$.

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

The 10-year median Price/Sales (Revenue) Ratio is 4.15. The current ratio is 4.11 based Revenue estimate for 2026 of $520M, Revenue per Share of $0.87 and a stock price of $3.58. The current ratio is 1% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median. This testing is in US$. You will get a similar answer in CDN$.

Results of stock price testing is that the stock price is probably reasonable and below the median. The P/S Ratio testing says this. The Price/Graham Price Ratio test is also saying this. Problem with the P/E Ratio and P/AEPS Ratio tests is the lack of earnings.

When I look at analysts’ recommendations, I find Strong Buy (1), Hold (5) and Sell (1). The consensus would be a Hold. The 12 months stock price is $5.21 ($3.80 US$), with a high of $5.53 ($4.03 US$) and low of $4.91 ($3.58 US$). The consensus stock price of $5.21 implies a total return of $5.54% all from capital gains based on a current stock price of $4.94.

There is only one entry on Stock Chase so this stock is not well followed. The entry says they have a strong cybersecurity business, but not super cheap. Sneha Nahata on Motley Fool says BlackBerry is undergoing a strategic transformation, focusing on high-value, scalable markets and building a more sustainable business model. Aditya Raghunath on Motley Fool says BlackBerry Limited delivered a robust first quarter for fiscal 2026, exceeding guidance across all key metrics and demonstrating the effectiveness of its strategic transformation into a cybersecurity and automotive software leader. The company put out a press release via Globe and Mail on the fourth quarter results for February 2025.

Zacks via Yahoo Finance puts out a report on this stock. There is also another report by Insider Monkey via Yahoo Finance. Simply Wall Street has one warning out on this stock of Large one-off items impacting financial results.

BlackBerry Ltd. provides intelligent security software and services to enterprises and governments worldwide. BlackBerry aligned its software and services business around 2 key market opportunities: Cyber Security and IoT. Its web site is here BlackBerry Ltd.

The last stock I wrote about was about was Well Health Technologies Corp (TSX-WELL, OTCQX-WHTCF) ... learn more. The next stock I will write about will be Andrew Peller Ltd (TSX-ADW.A, OTC-ADWPF) ... learn more on Monday, August 11, 2025 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.

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, but it could just be reasonable. Debt Ratios are mostly fine, but they need to improve their Liquidity Ratio. This company does not pay a dividend so there is no dividend yield information and no Dividend Payout Ratios (DPR). See my spreadsheet on Well Health Technologies Corp.

Is it a good company at a reasonable price? I bought shares in the company last week. I bought them with my fooling around money in the TFSA. It is a small but growing company. It is a high risk. The stock price might be on the cheap side.

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. See report on Newswire.

When I was updating my spreadsheet, I noticed that it seems that British Columbia and Quebec seem to be able to grow small companies. Ontario does not. This company is out of British Columbia. I noticed that the Chairman owns some 6% of the outstanding shares. All the officers and directors I follow have bought shares over the past 12 months.

If you had invested in this company in December 2017, for $1,000.12 you would have bought 2,273 shares at $0.44 per share. In December 2024, after 7 years you would have received $0.00 in dividends. The stock would be worth $15,592.78. Your total return would have been $15,592.78. This would be a total return of 14.03% per year with 12.56% from capital gain and 1.47% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$0.44	$1,000.12	2,273	7	$0.00	$15,592.78	$15,592.78

This company does not pay a dividend so there is no dividend yield information 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 2024 is good at 0.20 and currently at 0.32. The Liquidity Ratio for 2024 is far too low at 0.91 and 0.92 currently. If you added in Cash Flow after dividends, the ratios are still far too low at 0.93 and currently at 0.94. The Debt Ratio for 2024 is good at 2.06 and 2.01 currently. The Leverage and Debt/Equity Ratios for 2024 are fine at 2.08 and 1.01 and currently at 2.17 and 1.08.

Type	Year End	Ratio Curr
Lg Term R	0.20	0.32
Intang/GW	0.67	0.98
Liquidity	0.91	0.92
Liq. + CF	0.93	0.95
Debt Ratio	2.06	2.01
Leverage	2.08	2.17
D/E Ratio	1.01	1.08

The Total Return per year is shown below for years of 5 to 7 to the end of 2024. 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.
2019	5	0.00%	34.47%	34.47%	0.00%
2017	7	0.00%	48.05%	48.05%	0.00%

The 5-year low, median, and high median Price/Earnings per Share Ratios are essentially 0 or non-calculable. The corresponding 6 year ratios are negative and so useless. The current P/E Ratio is 118.75 based on a stock price of $4.75 and EPS estimate for $0.04. This is a really high P/E 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/Adjusted Earnings per Share Ratios are 12.86, 19.50 and 26.14. The corresponding 7 year ratios are 10.96, 16.33 and 21.71. The current P/AEPS Ratio is 12.84 based on a stock price of $4.75 and AEPS estimate for 2025 of $0.37. This 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 $5.24. The 4-year low, median, and high median Price/Graham Price Ratios are 1.34, 1.26 and 1.35. The current P/GP Ratio is 0.91 based on a stock price of $4.75. This stock price testing suggests that the stock price is relatively cheap. There have only been positive earnings for the last 4 years.

I get a 7-year median Price/Book Value per Share Ratio of 1.43. The current P/B Ratio is 1.44 based on a Book Value $834M, Book Value per Share of $1.67 and a stock price of $4.75. The current ratio is 0.4% above the 7 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and at the median.

I get a 7-year median Price/Cash Flow per Share Ratio of 5.92. The current ratio is 41.10 based on cash flow for the last 12 months of $29.2M, Cash Flow per Share of $0.12 and a stock price of $4.75. The current ratio is 595% above the 7 year median ratio. This stock price testing suggests that the stock price is relatively expensive. The Cash Flow is quite volatile.

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

The 6-year median Price/Sales (Revenue) Ratio is 2.46. The current P/S Ratio is 0.85 based on Revenue estimate for 2025 of $1,413M, Revenue per Share of $5.59 and a stock price of $4.75. The current P/S Ratio is 65% below the 6 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, but it could just be reasonable. The P/S Ratio test is saying this and this is good test. The P/AEPS Ratio test is saying that the stock price is reasonable and below the median. This is a good test.

When I look at analysts’ recommendations, I find Strong Buy (7), Buy (6), and Hold (1). The consensus is a Strong Buy. The 12 month stock price consensus is $7.65 with a high of $9.00 and low of $5.25. The consensus stock price of $7.65 implies a total return of 61.05% all from capital gains.

There are quite a few entries on Stock Chase in 2025 for this company. Some seem to think it is a buy, but others are cautious. One analyst thought that debt and cash flow need to improve for the stock to go higher. Amy Legate-Wolfe on Motley Fool thinks this stock is due for a comeback. She thinks that it is currently selling at an attractive price. Rajiv Nanjapla on Motley Fool thinks that this company has good growth prospects. The company put out a Press Release about their fourth quarter of 2024. The company put out a Press Release about their first quarter of 2025.

Simply Wall Street via Yahoo Finance likes that there is a 22.6% insider ownership for this company. Simply Wall Street via Yahoo Finance takes a look at this company and thinks that the consensus price target of $7.63 and thinks that this price target might be too pessimistic. Simply Wall Street shows no warnings for this stock.

An article dated October 17, 2024 talks about Hong Kong Billionaire Solian Chau buying a 14% stake in this company. There is an article on CANTECH about Stifel analyst Justin Keywood recommending this stock in June 2025.

WELL Health Technologies Corp is a practitioner-focused digital healthcare company. It has seven reportable segments that are grouped into three key business units: Canadian Patient Services that includes Primary and Specialized MyHealth. WELL Health USA Patient Services includes Primary Circle Medica, Primary WISP, Specialized CRH Medical, and Specialized Provider Staffing and SaaS and Technology Services. It generates the majority of its revenue from Well Health USA Patient and Provider Services. 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 Friday, August 8, 2025 around 5 pm. Tomorrow on my other blog I will write about Something to Buy August 2025.... .... learn more on Thursday, August 7, 2025 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.