M 
109.37
+0.06%
Close of 9 Nov 2026, in CAD
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At a glance
Figures in CAD, from our data supplier.
Revenue
C$1.12bn
FY2016FY2025
Net income
C$174.9m
FY2016FY2025
Free cash flow
C$209.3m
FY2016FY2025
Shareholders' equity
C$4.39bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$1.12bn | C$1.11bn | C$1.23bn | C$1.12bn | C$1.02bn | C$1.03bn | C$1.18bn | C$1.16bn | C$1.10bn | C$915.6m |
| Gross profit | C$607.0m | C$518.7m | C$634.0m | C$500.4m | C$533.3m | C$533.3m | C$610.6m | C$611.8m | C$587.6m | C$523.2m |
| Research and development | — | — | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Operating income | C$494.4m | C$507.7m | C$339.5m | C$508.5m | −C$239.5m | C$491.0m | C$425.2m | C$487.2m | C$473.8m | C$427.6m |
| Net income | C$174.9m | C$261.8m | C$74.2m | C$122.8m | C$249.8m | −C$250.1m | C$186.9m | C$319.9m | C$310.1m | C$172.7m |
| Diluted earnings per share | 16.38 | 24.28 | 6.86 | 11.07 | 22.50 | -22.52 | 16.60 | 28.33 | 26.87 | 14.48 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | C$11.84bn | C$11.76bn | C$11.62bn | C$11.71bn | C$11.49bn | C$11.05bn | C$11.70bn | C$11.08bn | C$10.11bn | C$9.59bn |
| Cash and short-term investments | C$184.6m | C$140.7m | C$116.5m | C$111.8m | C$173.7m | C$142.1m | C$123.2m | C$110.4m | C$134.4m | C$241.5m |
| Total liabilities | C$7.07bn | C$7.04bn | C$7.28bn | C$7.32bn | C$7.32bn | C$7.14bn | C$7.40bn | C$6.85bn | C$6.18bn | C$5.92bn |
| Debt | C$5.88bn | C$5.87bn | C$6.20bn | C$6.25bn | C$6.30bn | C$6.27bn | C$6.42bn | C$5.90bn | C$5.29bn | C$5.06bn |
| Shareholders' equity | C$4.39bn | C$4.29bn | C$3.89bn | C$3.87bn | C$3.63bn | C$3.37bn | C$3.55bn | C$3.43bn | C$3.08bn | C$2.86bn |
| Shares outstanding | 11m | 11m | 11m | 11m | 11m | 11m | 11m | 11m | 12m | 12m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | C$214.4m | C$263.5m | C$297.9m | C$252.9m | C$265.4m | C$211.9m | C$282.4m | C$291.4m | C$315.5m | C$285.1m |
| Capital spending | −C$5.2m | −C$3.3m | −C$6.6m | −C$1.7m | −C$677,000 | −C$2.1m | −C$12.7m | −C$5.9m | −C$18.1m | −C$8.6m |
| Free cash flow | C$209.3m | C$260.2m | C$291.3m | C$251.2m | C$264.8m | C$209.8m | C$269.8m | C$285.5m | C$297.4m | C$276.4m |
| Dividends paid | −C$8.5m | −C$7.0m | −C$6.5m | −C$6.6m | −C$6.6m | −C$6.6m | −C$6.7m | −C$6.7m | −C$7.0m | −C$7.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | C$277.7m | C$275.0m | C$282.7m | C$278.2m | C$276.1m | C$277.9m | C$285.4m | C$270.9m |
| Gross profit | C$165.0m | C$99.3m | C$172.4m | C$167.1m | C$145.6m | C$74.6m | C$149.9m | C$140.9m |
| Operating income | C$150.6m | C$80.0m | C$97.4m | C$147.1m | C$141.4m | C$72.2m | C$126.3m | C$96.3m |
| Net income | C$84.7m | C$58.5m | C$24.9m | C$37.8m | C$54.0m | C$58.1m | C$77.0m | C$498,000 |
| Diluted earnings per share | 7.93 | 5.47 | 2.33 | 3.54 | 5.06 | 5.44 | 7.14 | 0.05 |
| Cash from operations | C$66.0m | C$35.0m | C$71.0m | C$54.0m | C$83.0m | C$5.0m | C$99.0m | C$51.0m |
| Capital spending | −C$1.0m | −C$1.0m | −C$2.0m | — | — | — | — | −C$1.0m |
| Free cash flow | C$65.0m | C$34.0m | C$69.0m | — | — | — | — | C$50.0m |
| Total assets | C$12.39bn | C$12.02bn | C$11.84bn | C$11.91bn | C$11.76bn | C$11.89bn | C$11.76bn | C$11.54bn |
| Cash and short-term investments | C$374.7m | C$193.0m | C$184.6m | C$172.4m | C$164.1m | C$152.3m | C$140.7m | C$237.2m |
| Debt | C$5.46bn | C$5.28bn | C$5.88bn | C$5.91bn | C$5.86bn | C$5.94bn | C$5.87bn | C$5.83bn |
| Shareholders' equity | C$4.61bn | C$4.48bn | C$4.39bn | C$4.39bn | C$4.31bn | C$4.35bn | C$4.29bn | C$4.11bn |
Financial ratios
Data as of 5 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 54.0% | 46.8% | 51.6% | 44.7% | 52.2% | 51.9% | — | — |
| Operating margin | 44.2% | 49.3% | 27.6% | 32.0% | 61.0% | -8.5% | — | — |
| Net margin | 15.6% | 23.6% | 6.0% | 11.0% | 24.4% | -24.3% | — | — |
| Return on equity | 4.0% | 6.1% | 1.9% | 3.2% | 6.9% | -7.4% | — | — |
| Return on assets | 1.5% | 2.2% | 0.6% | 1.0% | 2.2% | -2.3% | — | — |
| Free cash flow yield | 18.7% | 22.5% | 25.7% | 20.9% | 21.8% | 17.6% | — | — |
| Revenue growth | 1.4% | -9.8% | 9.7% | 9.6% | -0.6% | -12.5% | — | — |
| Earnings growth | -33.2% | 252.9% | -39.6% | -50.8% | -199.9% | -233.8% | — | — |
| Current ratio | 0.27x | 0.20x | 0.30x | 0.23x | 0.26x | 0.23x | — | — |
| Debt to equity | 1.30x | 1.33x | 1.45x | 1.57x | 1.69x | 1.68x | — | — |
| Equity ratio | 37.0% | 36.5% | 33.4% | 33.0% | 31.6% | 30.5% | — | — |
| Interest coverage | 1.94x | 2.20x | 1.32x | 1.61x | 2.90x | -0.38x | — | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | 1.0% | 0.3% | 2.5% | 0.1% | 0.0% | 1.4% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.1% | 1.8% | 2.5% |
| Operating income | -0.9% | 0.1% | 1.7% |
| Net income | 12.5% | — | 8.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 50.5% | 49.4% | 50.2% | 51.9% |
| Operating margin | 44.9% | 40.4% | 31.7% | 36.5% |
| Net margin | 19.6% | 13.8% | 9.6% | 14.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 7.1 | 4.8 | 15.4 | 10.2 | 6.1 | -5.1 | 12.1 | 6.2 | 6.7 | 12.2 |
| Price to sales | 1.1 | 1.1 | 0.9 | 1.1 | 1.5 | 1.3 | 1.9 | 1.7 | 1.9 | 2.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 26 years. Last went ex-dividend on 15 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.60 | 0.80 | 0.65 | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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