Added to YB: 2026-03-03
Pitch date: 2026-02-28
PSI.TO [neutral]
Pason Systems Inc.
+3.6%
current return
Author Info
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Company Info
Pason Systems Inc., together with its subsidiaries, provides instrumentation and data management systems for oil and gas drilling in Canada, the United States, and internationally.
Market Cap
CAD 1.0B
Pitch Price
CAD 12.50
Price Target
N/A
Dividend
N/A
EV/EBITDA
6.59
P/E
19.09
EV/Sales
2.24
Sector
Energy Equipment and Services
Category
value
Pason Systems Inc. Q4 2025 Update – PSI.to
PSI.TO (earnings): Q4 rev $108.7M (+1% YoY), EBITDA $38.1M (35% margin vs 39% prior). FY25 rev $419.3M (+1%) despite NA drilling -6%, frac spreads -24%. Outperformed via pricing: NA rev/day $1,053 (record, +3%), IWS rev/day $6,131. Solar +124% but lumpy/low margin. FCF $63.3M, $62.7M returned via divs/buybacks. Zero debt, $77M cash. 6x EV/EBITDA. Mgmt sees flat '26, long-term tailwinds from AI data demand, gas power gen, oil decline rates.
Read full article (5 min)