Superior Plus Corp. (SPB.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

+298.2%

CA$27.32

vs CA$6.86 price

Levered DCF

CA$30.62

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

0.59

Distress zone

Rating

C+

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	26.07×	-65.01×	56.65×	-26.12×	16.05×	36.91×	20.59×	-60.5×
P/B	1.98×	1.79×	1.55×	1.98×	2.33×	2.25×	2.11×	1.41×
P/S	0.64×	1×	0.87×	0.87×	1.22×	1.51×	1.03×	0.76×
EV / EBITDA	7.08×	9.85×	9.21×	20.15×	11.31×	10.77×	10.15×	18.1×
Gross margin	42.3%	42.9%	38.2%	28.1%	29.7%	39.4%	35.2%	29.2%
Operating margin	8.2%	8.1%	8.1%	5.4%	4.8%	9.5%	11.0%	6.6%
Net margin	2.5%	-1.5%	1.5%	-3.3%	7.6%	4.2%	5.0%	-1.2%
Current ratio	0.95×	0.95×	0.87×	1.16×	1.05×	1.03×	0.99×	1.12×
Debt / equity	2.31×	2.11×	1.74×	1.94×	1.66×	1.93×	1.86×	1.7×
Interest coverage	2.17×	1.81×	2.22×	1.53×	0.56×	1.47×	2.09×	2.2×
Dividend yield	3.1%	9.4%	7.2%	7.5%	6.6%	5.9%	5.7%	7.4%
Payout ratio	79.4%	-612.5%	409.5%	-194.9%	105.1%	213.5%	117.6%	-450.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.7%	-2.7%	2.7%	-7.6%	14.6%	6.2%	10.3%	-2.3%
Return on invested capital	4.1%	-3.2%	3.1%	2.5%	2.2%	2.0%	6.3%	4.2%
Return on assets	1.7%	-0.7%	0.8%	-1.9%	4.0%	1.5%	2.9%	-0.7%
Free cash flow yield	13.6%	7.2%	15.9%	6.0%	5.5%	11.4%	13.1%	10.3%
Earnings yield	3.9%	-1.5%	1.8%	-3.8%	6.3%	2.7%	4.9%	-1.6%
Enterprise value	CA$3.4B	CA$3.4B	CA$4.6B	CA$4.3B	CA$3.9B	CA$3.9B	CA$4.1B	CA$3.4B
Net debt / EBITDA	3.78×	5.3×	4.84×	9.84×	4.66×	4.93×	4.71×	9.85×
Cash conversion cycle (days)	-3	-9	-11	44	15	38	25	53