NFI Group Inc. (NFI.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

-252.5%

-CA$38.32

vs CA$25.13 price

Levered DCF

-CA$39.23

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.52

Distress zone

Rating

Overall 2 / 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	-9.26×	-324.29×	-6.86×	-1.77×	-76.27×	-7.5×	22.05×	9.74×
P/B	2.3×	1.51×	1.33×	0.85×	1.29×	1.91×	1.55×	1.95×
P/S	0.37×	0.34×	0.35×	0.24×	0.48×	0.49×	0.44×	0.62×
EV / EBITDA	28.06×	10×	42.35×	-11.69×	12.1×	115.05×	8.88×	7.25×
Gross margin	7.5%	11.2%	8.2%	2.4%	10.1%	8.2%	14.3%	18.0%
Operating margin	0.3%	3.5%	-0.8%	-14.0%	2.0%	-1.3%	6.0%	9.4%
Net margin	-3.9%	-0.1%	-5.1%	-13.5%	-0.6%	-6.5%	2.0%	6.3%
Current ratio	1.47×	1.62×	1.8×	1.87×	1.77×	1.75×	1.72×	1.93×
Debt / equity	2.2×	1.67×	1.62×	2.16×	1.1×	2.06×	1.49×	0.84×
Interest coverage	0.07×	0.74×	-0.16×	-3.17×	0.63×	-0.48×	3.37×	8.85×
Dividend yield	0.0%	0.0%	0.0%	4.6%	4.1%	4.2%	6.0%	4.4%
Payout ratio	0.0%	0.0%	0.0%	-8.1%	-321.1%	-31.3%	132.4%	42.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-24.7%	-0.5%	-19.4%	-47.9%	-1.7%	-25.4%	7.1%	20.1%
Return on invested capital	0.5%	2.8%	-0.9%	-12.4%	2.3%	-1.5%	4.5%	11.1%
Return on assets	-4.4%	-0.1%	-5.0%	-10.7%	-0.6%	-5.7%	2.0%	7.7%
Free cash flow yield	10.6%	-3.0%	-10.8%	-55.6%	7.0%	3.4%	4.8%	6.7%
Earnings yield	-10.7%	-0.3%	-14.6%	-56.2%	-1.3%	-13.3%	4.6%	10.3%
Enterprise value	CA$2.5B	CA$2.2B	CA$2B	CA$1.7B	CA$2B	CA$2.4B	CA$2.5B	CA$2.2B
Net debt / EBITDA	13.05×	5.14×	22.81×	-8.28×	5.31×	58.45×	4.3×	2.15×
Cash conversion cycle (days)	97	101	99	121	84	89	83	71