Calian Group Ltd. (CGY.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

+45.1%

CA$120.94

vs CA$83.34 price

Levered DCF

CA$81.94

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.17

Safe zone

Rating

B+

Overall 3 / 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	27.9×	48.85×	31.7×	46.61×	58.1×	29.89×	13.77×	14.48×
P/B	1.79×	1.66×	1.82×	2.08×	2.21×	3.04×	2.39×	2.33×
P/S	0.74×	0.73×	0.91×	1.09×	1.25×	1.41×	0.8×	0.76×
EV / EBITDA	8.7×	8.77×	10.78×	11.03×	15.58×	15.56×	8.67×	8.25×
Gross margin	33.5%	34.0%	31.0%	29.1%	24.4%	20.6%	21.8%	19.6%
Operating margin	3.5%	5.9%	5.7%	5.2%	5.6%	6.0%	6.3%	7.2%
Net margin	2.7%	1.5%	2.9%	2.3%	2.2%	4.7%	5.8%	5.3%
Current ratio	1.48×	1.29×	1.36×	1.4×	2.16×	2.19×	1.85×	2.32×
Debt / equity	0.54×	0.4×	0.23×	0.09×	0.06×	0.1×	0.11×	0×
Interest coverage	3.17×	6.59×	41.93×	40.83×	35.62×	39.24×	604.39×	237.01×
Dividend yield	2.3%	2.5%	2.2%	2.0%	1.8%	1.6%	3.2%	3.7%
Payout ratio	63.1%	119.4%	69.7%	93.8%	106.0%	48.8%	44.0%	53.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.4%	3.4%	5.8%	4.5%	3.8%	10.2%	17.4%	16.1%
Return on invested capital	4.1%	4.4%	5.5%	4.9%	5.3%	8.0%	12.2%	15.6%
Return on assets	2.8%	1.6%	3.2%	2.5%	2.4%	6.2%	10.3%	10.6%
Free cash flow yield	6.1%	13.9%	8.1%	5.6%	6.0%	-1.4%	3.2%	2.1%
Earnings yield	3.6%	2.1%	3.2%	2.1%	1.7%	3.3%	7.3%	6.9%
Enterprise value	CA$703.2M	CA$621M	CA$638.8M	CA$618.3M	CA$585.4M	CA$603.6M	CA$271.3M	CA$210.8M
Net debt / EBITDA	1.59×	1.09×	0.69×	-0.29×	-1.63×	-0.12×	-0.13×	-0.85×
Cash conversion cycle (days)	48	43	66	78	95	114	92	82