New Risk • May 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (over 39x increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Annonce • Apr 14
Flint Corp., Annual General Meeting, Jun 23, 2026 Flint Corp., Annual General Meeting, Jun 23, 2026. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to CA$1.80, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 11x in the Energy Services industry in Canada. Total returns to shareholders of 13% over the past three years. Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: CA$0.93 (vs CA$0.59 in FY 2024) Full year 2025 results: EPS: CA$0.93 (up from CA$0.59 in FY 2024). Revenue: CA$563.8m (down 21% from FY 2024). Net income: CA$29.8m (up CA$28.2m from FY 2024). Profit margin: 5.3% (up from 0.2% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Annonce • Mar 11
Flint Corp. Announces Medical Leave of Absence of Neil Wotton, Chief Operating Officer FLINT Corp. announced that its Chief Operations Officer, Neil Wotton, is taking a medical leave of absence. During this period the duties of the Chief Operating Officer are being managed by senior leaders to ensure continued operational excellence. New Risk • Feb 05
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 39x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. New Risk • Dec 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 39x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Shareholders have been substantially diluted in the past year (over 39x increase in shares outstanding). Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: CA$2.53 (vs CA$2.03 in 3Q 2024) Third quarter 2025 results: EPS: CA$2.53 (up from CA$2.03 in 3Q 2024). Revenue: CA$148.8m (down 30% from 3Q 2024). Net income: CA$30.6m (up 477% from 3Q 2024). Profit margin: 21% (up from 2.5% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. New Risk • Sep 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 39x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Share price has been highly volatile over the past 3 months (36% average weekly change). Negative equity (-CA$56m). Shareholders have been substantially diluted in the past year (over 39x increase in shares outstanding). Minor Risk Market cap is less than US$100m (CA$132.0m market cap, or US$94.7m). Reported Earnings • Aug 03
Second quarter 2025 earnings released: EPS: CA$0.01 (vs CA$0.005 loss in 2Q 2024) Second quarter 2025 results: EPS: CA$0.01 (up from CA$0.005 loss in 2Q 2024). Revenue: CA$148.3m (down 10% from 2Q 2024). Net income: CA$1.11m (up CA$1.69m from 2Q 2024). Profit margin: 0.7% (up from net loss in 2Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • May 09
First quarter 2025 earnings released: CA$0.03 loss per share (vs CA$0.048 loss in 1Q 2024) First quarter 2025 results: CA$0.03 loss per share (improved from CA$0.048 loss in 1Q 2024). Revenue: CA$137.9m (down 5.7% from 1Q 2024). Net loss: CA$3.33m (loss narrowed 30% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Annonce • Apr 14
Flint Corp., Annual General Meeting, Jun 24, 2025 Flint Corp., Annual General Meeting, Jun 24, 2025. Location: alberta, calgary Canada New Risk • Mar 13
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.1x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Share price has been highly volatile over the past 3 months (30% average weekly change). Negative equity (-CA$54m). Market cap is less than US$10m (CA$2.75m market cap, or US$1.91m). Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: CA$0.013 (vs CA$0.12 loss in FY 2023) Full year 2024 results: EPS: CA$0.013 (up from CA$0.12 loss in FY 2023). Revenue: CA$710.6m (up 8.4% from FY 2023). Net income: CA$1.63m (up CA$14.5m from FY 2023). Profit margin: 0.2% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 07
Third quarter 2024 earnings released: EPS: CA$0.051 (vs CA$0.03 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.051 (up from CA$0.03 in 3Q 2023). Revenue: CA$211.6m (up 13% from 3Q 2023). Net income: CA$5.31m (up 90% from 3Q 2023). Profit margin: 2.5% (up from 1.5% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 04
Second quarter 2024 earnings released: CA$0.005 loss per share (vs CA$0.11 loss in 2Q 2023) Second quarter 2024 results: CA$0.005 loss per share (improved from CA$0.11 loss in 2Q 2023). Revenue: CA$164.9m (down 2.2% from 2Q 2023). Net loss: CA$588.0k (loss narrowed 95% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 29% per year whereas the company’s share price has fallen by 25% per year. Annonce • Jun 26
FLINT Corp. Approves the Appointment of Barry Card as Director FLINT Corp. at its annual and special meeting approved the appointment of Barry Card as Director. Reported Earnings • May 04
First quarter 2024 earnings released: CA$0.048 loss per share (vs CA$0.03 loss in 1Q 2023) First quarter 2024 results: CA$0.048 loss per share (further deteriorated from CA$0.03 loss in 1Q 2023). Revenue: CA$146.3m (down 2.8% from 1Q 2023). Net loss: CA$4.79m (loss widened 44% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 36% per year, which means it has not declined as severely as earnings. Annonce • May 03
Jordan Bitove Not to Stand for Re-Election at the Meeting of Flint Corp. as Director Flint Corp. acknowledged the significant contributions of Mr. Jordan Bitove who will not be standing for re-election at the meeting. Mr. Bitove has served as a director of the Company since 2013. The Company would like to thank Mr. Bitove for the guidance he has provided over the past 11 years. Annonce • Apr 05
Flint Corp., Annual General Meeting, Jun 25, 2024 Flint Corp., Annual General Meeting, Jun 25, 2024. New Risk • Apr 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 37% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (33% average weekly change). Negative equity (-CA$55m). Market cap is less than US$10m (CA$3.30m market cap, or US$2.45m). Minor Risk Shareholders have been diluted in the past year (37% increase in shares outstanding). Reported Earnings • Mar 13
Full year 2023 earnings released: CA$0.12 loss per share (vs CA$0.11 loss in FY 2022) Full year 2023 results: CA$0.12 loss per share (further deteriorated from CA$0.11 loss in FY 2022). Revenue: CA$655.7m (up 8.4% from FY 2022). Net loss: CA$12.9m (loss widened 3.7% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 36 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Feb 02
Now 33% undervalued The stock has been flat over the last 90 days, currently trading at CA$0.03. The fair value is estimated to be CA$0.044, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has declined by 59%. Reported Earnings • Nov 06
Third quarter 2023 earnings released: EPS: CA$0.03 (vs CA$0.011 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.03 (up from CA$0.011 in 3Q 2022). Revenue: CA$187.0m (up 8.8% from 3Q 2022). Net income: CA$2.79m (up 138% from 3Q 2022). Profit margin: 1.5% (up from 0.7% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Annonce • Jul 29
FLINT Corp. Appoints Jennifer Stubbs as Chief Financial Officer FLINT Corp. announced the appointment of Jennifer Stubbs as Chief Financial Officer, effective July 28, 2023. Ms. Stubbs will be responsible for leading FLINT’s Finance and Information Technology teams, as well as continuous improvement initiatives. Ms. Stubbs started her career at KPMG in Assurance and went on to hold financial roles with companies involved in engineering, manufacturing, real estate and energy infrastructure. Prior to joining FLINT, Ms. Stubbs was with Pembina Pipeline Corporation for 11 years, where she progressed through various financial roles and most recently held the title of Vice President, Continuous Improvement, where she was responsible for Internal Audit, oversight and reporting of corporate productivity initiatives and capital project governance. Ms. Stubbs is a Chartered Professional Accountant and holds a Bachelor of Commerce from the University of British Columbia. Reported Earnings • Jul 28
Second quarter 2023 earnings released: CA$0.11 loss per share (vs CA$0.009 loss in 2Q 2022) Second quarter 2023 results: CA$0.11 loss per share (further deteriorated from CA$0.009 loss in 2Q 2022). Revenue: CA$168.6m (down 2.7% from 2Q 2022). Net loss: CA$12.1m (loss widened CA$11.1m from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • May 03
First quarter 2023 earnings released: CA$0.03 loss per share (vs CA$0.07 loss in 1Q 2022) First quarter 2023 results: CA$0.03 loss per share (improved from CA$0.07 loss in 1Q 2022). Revenue: CA$150.5m (up 37% from 1Q 2022). Net loss: CA$3.33m (loss narrowed 57% from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Mar 04
Full year 2022 earnings released: CA$0.12 loss per share (vs CA$0.085 loss in FY 2021) Full year 2022 results: CA$0.12 loss per share (further deteriorated from CA$0.085 loss in FY 2021). Revenue: CA$604.7m (up 55% from FY 2021). Net loss: CA$12.4m (loss widened 34% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 4% per year. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Director Karl Johannson was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: CA$0.01 (vs CA$0.02 loss in 3Q 2021) Third quarter 2022 results: EPS: CA$0.01 (up from CA$0.02 loss in 3Q 2021). Revenue: CA$171.9m (up 58% from 3Q 2021). Net income: CA$1.17m (up CA$3.40m from 3Q 2021). Profit margin: 0.7% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Annonce • Nov 05
ClearStream Energy Services Inc. Appoints Murray Desrosiers as Senior Vice-President, Legal and Corporate Development ClearStream Energy Services Inc. announced that Murray Desrosiers, senior vice-president and general counsel, was appointed senior vice-president, legal and corporate development, for ClearStream Energy Services Inc. In this new role, Desrosiers will be responsible for the co-ordination and delivery of legal services, insurance, corporate development and strategic planning. Reported Earnings • Jul 29
Second quarter 2022 earnings released: CA$0.01 loss per share (vs CA$0.004 profit in 2Q 2021) Second quarter 2022 results: CA$0.01 loss per share (down from CA$0.004 profit in 2Q 2021). Revenue: CA$173.2m (up 79% from 2Q 2021). Net loss: CA$974.0k (down 297% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Annonce • Jul 29
ClearStream Energy Services Inc. Announces Appointment of Barry Card as Chief Executive Officer ClearStream Energy Services Inc. announced that it has appointed Barry Card as Chief Executive Officer. Mr. Card joined ClearStream in 2016 and previously served as ClearStream's Chief Commercial Officer for approximately four years before his appointment as interim Chief Executive Officer in March 2022. Barry Card has over 20 years of experience in the provision of maintenance and construction services to the energy and industrial markets. Barry joined ClearStream in 2016 as Vice President, Market Development and was promoted to Senior Vice President, Business Development in 2017 and Chief Commercial Officer in 2018. As Chief Commercial Officer, he oversaw ClearStream’s business and community development, and market strategies. In late 2021, his responsibilities were expanded to included environmental and project services. Since March 2022, Barry served as interim Chief Executive Officer. Prior to joining ClearStream, Barry spent 14 years at a Fortune 200 company in various global leadership and executive roles responsible for enterprise portfolios, strategy and development of integrated environmental, engineering, procurement, construction, maintenance and reclamation service offerings. Mr. Card holds an Advanced Executive Management Certificate from Queen’s University, and an Advanced Bachelor of Management degree from the University of Lethbridge. Reported Earnings • May 06
First quarter 2022 earnings released: CA$0.07 loss per share (vs CA$0.07 loss in 1Q 2021) First quarter 2022 results: CA$0.07 loss per share (vs CA$0.07 loss in 1Q 2021). Revenue: CA$109.8m (up 34% from 1Q 2021). Net loss: CA$7.78m (loss widened 2.8% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. Independent Director Karl Johannson was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. Independent Director Karl Johannson was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Mar 12
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. Independent Director Karl Johannson was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Mar 10
Clearstream Energy Services Inc. Announces CEO Changes ClearStream Energy Services Inc. announced that Yves Paletta has stepped down as Chief Executive Officer to pursue other opportunities. Barry Card, ClearStream's Chief Commercial Officer, has been named as the company's interim Chief Executive Officer by the Board of Directors. Mr. Card has been with the company since 2016 and brings extensive leadership experience. He is well-positioned to progress the company's strategic objectives and business during the transition. Barry Card has over 20 years of experience in the provision of maintenance and construction services to the energy and industrial markets. Barry joined ClearStream in 2016 as Vice President, Market Development and was promoted to Senior Vice President, Business Development in 2017 and Chief Commercial Officer in 2018. As Chief Commercial Officer, he oversaw ClearStream’s business and community development, and market strategies. In late 2021, his responsibilities were expanded to included environmental and project services. Prior to joining ClearStream, Barry spent 14 years at a Fortune 200 company in various global leadership and executive roles responsible for enterprise portfolios, strategy and development of integrated environmental, engineering, procurement, construction, maintenance and reclamation service offerings. Mr. Card holds an Advanced Executive Management Certificate from Queen’s University, and an Advanced Bachelor of Management degree from the University of Lethbridge. Reported Earnings • Mar 10
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: CA$0.08 loss per share (down from CA$0.032 profit in FY 2020). Revenue: CA$389.4m (flat on FY 2020). Net loss: CA$9.30m (down 368% from profit in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 06
Third quarter 2021 earnings released: CA$0.02 loss per share (vs CA$0.089 profit in 3Q 2020) The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: CA$108.6m (up 7.8% from 3Q 2020). Net loss: CA$2.23m (down 123% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 31
Second quarter 2021 earnings released: EPS CA$0.004 (vs CA$0.011 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CA$96.6m (up 19% from 2Q 2020). Net income: CA$494.0k (down 62% from 2Q 2020). Profit margin: 0.5% (down from 1.6% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 09
First quarter 2021 earnings released: CA$0.07 loss per share (vs CA$0.089 loss in 1Q 2020) The company reported a soft first quarter result with weaker revenues and control over costs, although losses reduced. First quarter 2021 results: Revenue: CA$82.2m (down 35% from 1Q 2020). Net loss: CA$7.57m (loss narrowed 18% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Annonce • May 08
An unknown buyer acquired Certain assets of ClearStream Energy Services Inc. An unknown buyer acquired Certain assets of ClearStream Energy Services Inc. during the three months ended March 31, 2021.
An unknown buyer completed the acquisition of Certain assets of ClearStream Energy Services Inc. during the three months ended March 31, 2021. Reported Earnings • Mar 06
Full year 2020 earnings released: EPS CA$0.03 (vs CA$0.061 loss in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CA$393.1m (down 15% from FY 2019). Net income: CA$3.47m (up CA$10.1m from FY 2019). Profit margin: 0.9% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Annonce • Feb 26
ClearStream Announces New Project Awards and Contract Renewals ClearStream Energy Services Inc. announced several new project awards and contract renewals that were booked with major upstream, midstream and downstream energy companies across North America during the period from October 1, 2020 to the date of this press release. These awards and renewals are estimated to generate approximately $150 million in backlog. Approximately one-third of this amount relates to a new five-year contract to provide turnaround and maintenance services for a major oil sands production company. The work will be executed by the company's Flint, the company, Environmental, Universal Weld Overlays and Wear Technologies divisions and will be comprised of Maintenance, Turnarounds, Fabrication, Pipeline and Facility Construction, Electrical and Instrumentation, Corrosion and Abrasion Wear Technologies, and Abandonment and Reclamation services. Most of the work will be executed in 2021 with the balance scheduled for 2022-2025. To accelerate turnkey asset retirement solution and better support customers, on February 1, 2021, ClearStream re-branded its environmental services offering as Flint Environmental Services. The combination of Environmental Specialists and Project Managers together with Flint’s personnel operating through its extensive network of facilities in Western Canada, will add value to integrated full-service offering. Reported Earnings • Nov 08
Third quarter 2020 earnings released: EPS CA$0.089 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: CA$100.8m (down 28% from 3Q 2019). Net income: CA$9.69m (up CA$8.76m from 3Q 2019). Profit margin: 9.6% (up from 0.7% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. 
