Zedcor Inc (ZDC.V) 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

-389.5%

-CA$14.33

vs CA$4.95 price

Levered DCF

-CA$13.26

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

3.35

Safe zone

Rating

D+

Overall 1 / 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	241.38×	187.17×	15.8×	6.76×	-6.08×	-2×	-0.47×	-0.28×
P/B	10.64×	9.53×	3.5×	4.78×	59.63×	2.33×	0.46×	0.36×
P/S	11.11×	9.24×	1.7×	1.84×	1.75×	0.68×	0.22×	0.33×
EV / EBITDA	41.39×	30.64×	7.58×	7.22×	10.61×	10.11×	11.51×	-11.22×
Gross margin	56.4%	58.6%	49.8%	48.7%	45.6%	32.2%	28.6%	26.1%
Operating margin	6.6%	10.1%	15.4%	22.4%	14.4%	2.1%	-2.9%	-11.3%
Net margin	4.6%	4.9%	10.7%	27.1%	-28.8%	-34.0%	-47.4%	-115.5%
Current ratio	0.87×	1.09×	0.77×	1.02×	0.75×	0.8×	0.7×	0.24×
Debt / equity	0.93×	0.89×	2.28×	2.44×	42.76×	6.69×	4.04×	1.61×
Interest coverage	1.45×	1.72×	2.37×	4.79×	0.62×	0.08×	-0.12×	-0.52×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.4%	5.1%	21.9%	70.7%	-980.2%	-116.4%	-98.0%	-124.7%
Return on invested capital	3.3%	5.5%	9.7%	17.0%	11.2%	0.9%	-1.2%	-4.7%
Return on assets	2.0%	2.4%	6.2%	18.4%	-19.7%	-14.4%	-19.0%	-45.7%
Free cash flow yield	-7.4%	-3.4%	-8.4%	-6.9%	-5.1%	10.0%	72.1%	-158.0%
Earnings yield	0.4%	0.5%	6.3%	14.8%	-16.4%	-49.9%	-214.3%	-350.7%
Enterprise value	CA$709.3M	CA$327.4M	CA$68.6M	CA$60.7M	CA$40.6M	CA$35.5M	CA$36.7M	CA$31.6M
Net debt / EBITDA	3.18×	2.11×	2.89×	2.39×	4.42×	7.44×	10.33×	-9.18×
Cash conversion cycle (days)	-132	-84	-12	19	0	43	35	31