Lassonde Industries Inc. (LAS-A.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

+17.7%

CA$305.91

vs CA$260.00 price

Levered DCF

CA$346.59

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.48

Safe zone

Rating

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	10.01×	11.05×	10.94×	14.18×	14.07×	12.26×	14.99×	20.97×
P/B	1.31×	1.18×	1.04×	0.87×	1.35×	1.62×	1.59×	2.08×
P/S	0.51×	0.48×	0.41×	0.36×	0.58×	0.61×	0.64×	0.87×
EV / EBITDA	5.88×	6.63×	5.75×	7.2×	7.28×	6.58×	7.77×	10.96×
Gross margin	25.4%	26.8%	25.4%	24.3%	27.6%	28.3%	26.9%	26.8%
Operating margin	7.7%	6.7%	5.8%	3.8%	6.3%	7.7%	6.0%	6.6%
Net margin	5.1%	4.4%	3.8%	2.5%	4.1%	4.9%	4.3%	4.2%
Current ratio	1.75×	1.52×	1.71×	1.53×	1.32×	1.52×	1.64×	1.73×
Debt / equity	0.44×	0.45×	0.23×	0.29×	0.22×	0.29×	0.41×	0.48×
Interest coverage	5.97×	7.16×	8.08×	9.22×	13.19×	8.71×	5.95×	8.13×
Dividend yield	2.0%	2.2%	1.6%	2.7%	2.1%	1.5%	1.7%	1.5%
Payout ratio	20.1%	23.9%	17.1%	38.0%	29.4%	18.0%	25.0%	32.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	13.1%	10.7%	9.5%	6.1%	9.6%	13.2%	10.6%	9.9%
Return on invested capital	9.3%	7.1%	7.5%	4.8%	7.7%	10.4%	6.9%	7.6%
Return on assets	6.6%	5.0%	5.3%	3.4%	5.5%	7.1%	5.5%	5.0%
Free cash flow yield	-0.3%	9.4%	12.4%	-3.1%	5.1%	15.9%	9.3%	5.7%
Earnings yield	10.0%	9.1%	9.1%	7.1%	7.1%	8.2%	6.7%	4.8%
Enterprise value	CA$2B	CA$1.7B	CA$1.2B	CA$1B	CA$1.3B	CA$1.4B	CA$1.4B	CA$1.7B
Net debt / EBITDA	1.45×	1.75×	0.97×	1.78×	1.03×	0.98×	1.58×	2.03×
Cash conversion cycle (days)	55	61	67	76	69	54	62	63