Accord Financial Corp. (ACD.TO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-489.1%

-CA$2.76

vs CA$0.71 price

Levered DCF

-CA$40.87

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.92

Distress zone

Rating

—

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-0.51×	-10.43×	-2.7×	45.29×	6.04×	134×	13.25×	7.33×
P/B	0.3×	0.41×	0.47×	0.65×	0.72×	0.64×	0.92×	0.84×
P/S	0.25×	0.4×	0.5×	0.98×	1.13×	1.18×	1.52×	2.02×
EV / EBITDA	30.37×	-135.92×	-16.9×	121.36×	28.89×	-107.22×	47.3×	26.9×
Gross margin	98.4%	37.2%	25.0%	52.0%	75.9%	50.5%	56.9%	74.9%
Operating margin	15.2%	-3.7%	-34.1%	3.9%	23.5%	-8.4%	12.3%	30.1%
Net margin	-48.4%	-3.8%	-18.3%	2.1%	18.7%	0.9%	11.5%	27.6%
Current ratio	1.18×	0.14×	0.02×	0.23×	0.25×	0.5×	0.43×	1.42×
Debt / equity	5.73×	3.88×	4.93×	3.65×	3.98×	3.05×	3.22×	2.92×
Interest coverage	0.28×	-0.09×	-0.77×	0.11×	0.94×	-0.28×	0.4×	1.2×
Dividend yield	0.0%	0.0%	4.9%	3.9%	2.4%	3.6%	3.6%	4.0%
Payout ratio	0.0%	0.0%	-13.2%	180.0%	14.4%	493.3%	47.4%	29.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-58.8%	-3.9%	-17.4%	1.4%	11.9%	0.5%	7.0%	11.5%
Return on invested capital	2.6%	-0.6%	-3.0%	0.3%	2.2%	0.1%	1.1%	3.2%
Return on assets	-8.4%	-0.8%	-2.8%	0.3%	2.3%	0.1%	1.6%	2.8%
Free cash flow yield	38.2%	182.1%	-130.1%	47.5%	-141.5%	40.7%	-56.0%	-125.2%
Earnings yield	-194.5%	-9.5%	-37.1%	2.2%	16.5%	0.7%	7.6%	13.7%
Enterprise value	CA$300.8M	CA$329.9M	CA$447.6M	CA$422.3M	CA$456M	CA$326.3M	CA$375.9M	CA$322M
Net debt / EBITDA	28.81×	-122.31×	-15.41×	102.42×	24.33×	-88.38×	36.58×	20.57×
Cash conversion cycle (days)	1,932	64	2,140	356	459	840	665	678