ADENTRA Inc (ADEN.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

+51.9%

CA$55.20

vs CA$36.33 price

Levered DCF

CA$31.33

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

3.11

Safe zone

Rating

A-

Overall 4 / 5

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	12.01×	19.04×	15.01×	3.52×	7.31×	14.22×	11.81×	7.43×
P/B	1.25×	1.4×	1.02×	0.89×	1.82×	1.76×	1.23×	0.86×
P/S	0.37×	0.41×	0.24×	0.18×	0.47×	0.43×	0.3×	0.21×
EV / EBITDA	7.37×	8.72×	6.8×	3.68×	7.28×	9.13×	8.06×	6.05×
Gross margin	18.3%	21.7%	20.8%	21.6%	23.1%	18.8%	18.1%	17.3%
Operating margin	4.6%	4.4%	4.1%	7.6%	9.2%	4.7%	4.1%	4.4%
Net margin	3.0%	2.1%	1.6%	5.0%	6.4%	2.3%	1.9%	2.8%
Current ratio	2.05×	2.23×	2.56×	1.75×	2.29×	1.87×	1.72×	1.92×
Debt / equity	0.86×	0.98×	1.07×	1.55×	1.38×	0.69×	0.8×	0.81×
Interest coverage	2.15×	2.52×	1.88×	5.54×	14.05×	7.46×	6.69×	5.64×
Dividend yield	1.3%	1.1%	1.6%	1.9%	0.7%	1.3%	1.5%	2.7%
Payout ratio	15.6%	20.7%	23.7%	6.9%	5.2%	25.6%	23.2%	20.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.4%	7.3%	6.8%	25.2%	24.9%	9.2%	8.0%	11.5%
Return on invested capital	8.3%	6.4%	7.1%	12.0%	11.3%	8.3%	7.0%	7.5%
Return on assets	5.1%	3.3%	2.9%	9.0%	9.3%	4.8%	3.9%	5.8%
Free cash flow yield	17.9%	15.1%	41.9%	43.9%	-9.7%	11.5%	19.6%	-0.1%
Earnings yield	8.3%	5.2%	6.7%	28.2%	13.7%	5.2%	6.5%	13.5%
Enterprise value	CA$1.4B	CA$1.5B	CA$1.5B	CA$1.6B	CA$1.7B	CA$746.6M	CA$561.1M	CA$458.6M
Net debt / EBITDA	2.99×	3.5×	3.46×	2.26×	3.11×	2.58×	3.05×	2.94×
Cash conversion cycle (days)	81	85	79	89	139	89	116	112