Professional
Added to YB: 2024-07-16
Pitch date: 2024-07-15
TVK.TO [bullish]
TerraVest Industries Inc.
+114.89%
current return
Author Info
No bio for this author
Company Info
TerraVest Industries Inc. manufactures and sells goods and services to agriculture, mining, energy production and distribution, chemical, utilities, transportation and construction, and other markets in Canada, the United States, and internationally.
Market Cap
CAD 2.7B
Pitch Price
CAD 71.38
Price Target
89.00 (-42%)
Dividend
0.56%
EV/EBITDA
15.95
P/E
31.96
EV/Sales
3.12
Sector
Energy Equipment and Services
Category
growth
National Bank Initiates Coverage on TVK with Outperform Rating
TVK.TO: Consolidator in niche steel markets. 25 ops, 4 segments. 34%/yr TSR since 2014. M&A focus: 21 acqs, $750M sales added. 4-6x EBITDA targets, 1-2x synergy reduction. $50-150M EBITDA acq capacity at 3x PF Net Debt/EBITDA. $89 PT (10.75x 2025e EV/EBITDA, 4.2% FCF yield). Outperform on M&A execution & organic growth in mature industries.
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