Professional
Added to YB: 2024-03-04
Pitch date: 2024-02-29
CURN [bullish]
Currency Exchange International, Corp.
-6.12%
current return
Author Info
No bio for this author
Company Info
Currency Exchange International, Corp., together with its subsidiary, Exchange Bank of Canada, provides foreign exchange technology and processing services in Canada and the United States.
Market Cap
CAD 89.5M
Pitch Price
CAD 24.50
Price Target
40.00 (+74%)
Dividend
N/A
EV/EBITDA
0.46
P/E
38.56
EV/Sales
0.11
Sector
Consumer Finance
Category
growth
Artko Capital Portfolio Holding: Currency Exchange International, Corp. - $CURN
CURN: 19% of portfolio, cost $8.08, now $18. 2023: +11% return, revenue +21% (Banknote +23%, Wholesale +31%). Payments +15%. Expenses +30%, flat $19M EBIT. 2024 outlook: $25-30M EBIT in 12-18 mo. from investments, tourism, share gains, pricing. $115M mkt cap, $82M cash, 1.5x EBIT. 5% buyback after mgmt talks. $40 PT on 8x EBIT, $30M+ cash leverage. 100%+ upside.
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