Trisura Group Ltd. (TSU.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

+244.7%

CA$142.21

vs CA$41.26 price

Levered DCF

CA$160.78

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.87

Grey 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	14.34×	15.59×	23.61×	70.77×	31.37×	26.83×	55.93×	19.77×
P/B	2.21×	2.36×	2.55×	3.98×	5.47×	2.99×	1.53×	1.33×
P/S	2.35×	2.38×	2.22×	3.78×	5.61×	3.83×	2.11×	1.67×
EV / EBITDA	9.64×	10.38×	11.25×	35.79×	19.84×	17.74×	16.2×	6.89×
Gross margin	27.1%	25.3%	16.6%	-21.6%	45.7%	43.3%	36.4%	52.3%
Operating margin	21.8%	20.3%	12.7%	7.6%	23.0%	17.4%	8.1%	12.6%
Net margin	16.4%	15.3%	9.4%	5.3%	17.9%	14.3%	3.7%	8.4%
Current ratio	16.58×	3.4×	-0.31×	1.98×	5.97×	5.47×	4.18×	3.49×
Debt / equity	0.17×	0.14×	0.14×	0.18×	0.24×	0.13×	0.21×	0.23×
Interest coverage	37.59×	48.47×	37.54×	15.03×	49.11×	35.47×	8.23×	13.46×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	1.9%	1.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	15.4%	15.1%	10.8%	5.6%	17.4%	11.2%	2.7%	6.6%
Return on invested capital	2.9%	3.6%	1.2%	1.7%	3.7%	3.9%	1.4%	4.8%
Return on assets	2.8%	2.6%	1.9%	0.6%	2.1%	1.9%	0.5%	1.4%
Free cash flow yield	18.5%	6.2%	16.3%	7.6%	15.5%	9.5%	19.0%	11.4%
Earnings yield	7.0%	6.4%	4.2%	1.4%	3.2%	3.7%	1.8%	5.0%
Enterprise value	CA$1.9B	CA$1.7B	CA$1.1B	CA$1.6B	CA$1.7B	CA$766.7M	CA$244M	CA$107.3M
Net debt / EBITDA	-0.66×	-1×	-5.5×	-6.95×	-2.98×	-2.32×	-3.08×	-4.21×
Cash conversion cycle (days)	1,172	2	-381	-594	-1,554	-163	-1,273	-1,348