Added to YB: 2026-02-13
Pitch date: 2025-11-29
ISC.TO [bullish]
Information Services Corporation
+25.71%
current return
Author Info
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Company Info
Information Services Corporation provides registry and information management services for public data and records in Canada.
Market Cap
CAD 817.4M
Pitch Price
CAD 38.06
Price Target
50.00 (+4%)
Dividend
2.10%
EV/EBITDA
12.60
P/E
29.91
EV/Sales
3.86
Sector
Real Estate Management and Development
Category
value
Information Services Corporation - $ISC.TO
ISC.TO: Monopoly-like Saskatchewan registry (MSA to 2053) trades at ~10x EBITDA vs infrastructure comps at 20-25x. Strategic review underway following activist pressure; potential sale to infra buyer could re-rate to 15x+ EBITDA. Core Registry 60% margin, ~$65M EBITDA deserves 15-20x. SOTP value C$41/sh (25% upside); takeout scenario C$45-50 (30-50% upside). Risks: govt golden share veto, cyclical volumes, no-deal outcome. Catalysts: sale process completion by Q1-Q2 2026, activist Plantro pressure, ongoing buybacks, 2028 EBITDA doubling target.
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