Buy Or Sell Opportunity • Mar 06
Now 21% overvalued Over the last 90 days, the stock has fallen 2.7% to CA$1.07. The fair value is estimated to be CA$0.88, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.1% over the last 3 years. Earnings per share has declined by 33%. Reported Earnings • Mar 04
Second quarter 2026 earnings released: EPS: CA$0.004 (vs CA$0.013 in 2Q 2025) Second quarter 2026 results: EPS: CA$0.004 (down from CA$0.013 in 2Q 2025). Revenue: CA$859.7k (down 17% from 2Q 2025). Net income: CA$35.2k (down 70% from 2Q 2025). Profit margin: 4.1% (down from 11% in 2Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CA$1.28, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 23x in the Basic Materials industry in North America. Total loss to shareholders of 42% over the past three years. Reported Earnings • Nov 29
First quarter 2026 earnings released: EPS: CA$0.026 (vs CA$0.03 in 1Q 2025) First quarter 2026 results: EPS: CA$0.026 (down from CA$0.03 in 1Q 2025). Revenue: CA$1.48m (up 3.2% from 1Q 2025). Net income: CA$237.4k (down 15% from 1Q 2025). Profit margin: 16% (down from 19% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Nov 03
Fab-Form Industries Ltd., Annual General Meeting, Dec 12, 2025 Fab-Form Industries Ltd., Annual General Meeting, Dec 12, 2025. Location: fab form head office, unit 19, 1610 derwent way, british columbia, v3m 6w1, delta Canada Reported Earnings • Oct 28
Full year 2025 earnings released: EPS: CA$0.06 (vs CA$0.084 in FY 2024) Full year 2025 results: EPS: CA$0.06 (down from CA$0.084 in FY 2024). Revenue: CA$4.73m (up 1.1% from FY 2024). Net income: CA$546.8k (down 29% from FY 2024). Profit margin: 12% (down from 17% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Sep 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CA$1.17, the stock trades at a trailing P/E ratio of 16.3x. Average trailing P/E is 23x in the Basic Materials industry in North America. Total loss to shareholders of 10.0% over the past three years. Reported Earnings • May 30
Third quarter 2025 earnings released: EPS: CA$0.004 (vs CA$0.009 in 3Q 2024) Third quarter 2025 results: EPS: CA$0.004 (down from CA$0.009 in 3Q 2024). Revenue: CA$772.8k (up 3.3% from 3Q 2024). Net income: CA$40.3k (down 53% from 3Q 2024). Profit margin: 5.2% (down from 11% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CA$1.12, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 16x in the Basic Materials industry in North America. Total returns to shareholders of 12% over the past three years. Buy Or Sell Opportunity • Apr 08
Now 23% overvalued Over the last 90 days, the stock has fallen 24% to CA$1.09. The fair value is estimated to be CA$0.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.4% over the last 3 years. Earnings per share has declined by 11%. Reported Earnings • Mar 05
Second quarter 2025 earnings released: EPS: CA$0.013 (vs CA$0.012 in 2Q 2024) Second quarter 2025 results: EPS: CA$0.013 (up from CA$0.012 in 2Q 2024). Revenue: CA$1.03m (up 1.0% from 2Q 2024). Net income: CA$117.4k (up 9.3% from 2Q 2024). Profit margin: 11% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Dec 01
First quarter 2025 earnings released: EPS: CA$0.03 (vs CA$0.039 in 1Q 2024) First quarter 2025 results: EPS: CA$0.03 (down from CA$0.039 in 1Q 2024). Revenue: CA$1.43m (down 6.9% from 1Q 2024). Net income: CA$278.8k (down 22% from 1Q 2024). Profit margin: 19% (down from 23% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CA$1.21, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 21x in the Basic Materials industry in North America. Total returns to shareholders of 68% over the past three years. Announcement • Nov 06
Fab-Form Industries Ltd., Annual General Meeting, Dec 20, 2024 Fab-Form Industries Ltd., Annual General Meeting, Dec 20, 2024. Location: the fab form head office, unit 19, 1610 derwent way, british columbia, v3m 6w1, delta Canada Reported Earnings • Oct 26
Full year 2024 earnings released: EPS: CA$0.084 (vs CA$0.10 in FY 2023) Full year 2024 results: EPS: CA$0.084 (down from CA$0.10 in FY 2023). Revenue: CA$4.68m (down 9.7% from FY 2023). Net income: CA$771.9k (down 20% from FY 2023). Profit margin: 17% (down from 19% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 24
Fab-Form Industries Ltd. Announces Patent, Trademark Applications and Completion of Prototypes of Level-R and Monopour HD Fab-Form Industries Ltd. announced patent and trademark applications, as well as product update of the two footing brackets: Level-R™? and Monopour HD™?. Fab-Form has completed the prototyping of both products and has placed its first production order with a lead time of two months. The company will announce both products at the World of Concrete in Las Vegas, January 2025, booth N568. The patent filed with the USPTO on 8 December 2022, with the trademarks filed on 19 September 2024. LEVEL-RTM footing bracket provides an improved footing lumber support with a length-adjustable assembly designed for speed, versatility and precision. Key features include: Length-Adjustable Assembly: Comprising a pair of telescoping members, a removable end member, and a rotatable male threaded member, this assembly allows for precise length adjustments while inhibiting unwanted axial movement. Form Support: The form support utilizes the length-adjustable assembly to adjust the position of upper and lower telescoping members. It features various configurations, such as mounts, L- shaped brackets, and baseplates with multiple apertures. The two inventions can support forming lumber and ICFs. MONOPOUR HDTM is the first reusable support for the ICF block and enables monopouring of the ICF wall and the Fastfoot® fabric formed footing. Monopour HD saves the contractor time, eliminates the double pump truck and concrete, and provides a stronger foundation (no concrete cold joint). Comprising a pair of telescoping members, a removable end member, and a rotatable male threaded member, this assembly allows for precise length adjustments while inhibiting unwanted axial movement. New Risk • Oct 02
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.3m (US$9.86m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (36% accrual ratio). Market cap is less than US$10m (CA$13.3m market cap, or US$9.86m). Minor Risk Revenue is less than US$5m (CA$4.7m revenue, or US$3.5m). Reported Earnings • Jun 04
Third quarter 2024 earnings released: EPS: CA$0.009 (vs CA$0.012 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.009 (down from CA$0.012 in 3Q 2023). Revenue: CA$748.0k (up 5.8% from 3Q 2023). Net income: CA$85.2k (down 24% from 3Q 2023). Profit margin: 11% (down from 16% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Mar 05
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 34% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (34% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Revenue is less than US$5m (CA$5.2m revenue, or US$3.8m). Market cap is less than US$100m (CA$20.7m market cap, or US$15.3m). Buy Or Sell Opportunity • Feb 16
Now 21% undervalued Over the last 90 days, the stock has risen 28% to CA$2.24. The fair value is estimated to be CA$2.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 42%. New Risk • Feb 13
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 17% 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: Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Revenue is less than US$5m (CA$5.1m revenue, or US$3.8m). Market cap is less than US$100m (CA$17.4m market cap, or US$13.0m). Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CA$1.90, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 19x in the Basic Materials industry in North America. Total returns to shareholders of 288% over the past three years. Board Change • Feb 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. 2 highly experienced directors. Independent Director Nigel Protter was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 08
Fab-Form Industries Ltd. Announces CEO Changes Fab-Form Industries Ltd. announced key appointments to its leadership team, effective December 01, 2023. Joseph Christian Fearn has been appointed as the Chief Executive Officer (CEO). Joseph Fearn brings with him over 18 years of construction industry experience and a successful track record in sales, marketing, production, and sourcing. Fearn played a crucial role in the development of the Zont Bracing system, ZAT bracket, and Monopour system, showcasing his involvement in the Company's innovative products. The Board of Directors expresses confidence in his ability to provide strategic vision and guidance for Fab-Form's future. The Board also extends gratitude to Richard Neil Fearn (79) for his dedication during his tenure as Chief Executive Officer since the company's inception in 1986. Richard will continue as an executive director, providing leadership to the research and development team. Reported Earnings • Dec 01
Third quarter 2023 earnings released: EPS: CA$0.039 (vs CA$0.052 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.039 (down from CA$0.052 in 3Q 2022). Revenue: CA$1.54m (down 27% from 3Q 2022). Net income: CA$357.0k (down 24% from 3Q 2022). Profit margin: 23% (up from 22% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 29
Second quarter 2023 earnings released: EPS: CA$0.04 (vs CA$0.047 in 2Q 2022) Second quarter 2023 results: EPS: CA$0.04 (down from CA$0.047 in 2Q 2022). Revenue: CA$1.88m (flat on 2Q 2022). Net income: CA$370.7k (down 14% from 2Q 2022). Profit margin: 20% (down from 23% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 31
First quarter 2023 earnings released: EPS: CA$0.012 (vs CA$0.025 in 1Q 2022) First quarter 2023 results: EPS: CA$0.012 (down from CA$0.025 in 1Q 2022). Revenue: CA$707.1k (down 38% from 1Q 2022). Net income: CA$111.9k (down 50% from 1Q 2022). Profit margin: 16% (down from 20% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has increased by 78% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CA$2.08, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 14x in the Basic Materials industry in North America. Total returns to shareholders of 395% over the past three years. Reported Earnings • May 01
Full year 2022 earnings released: EPS: CA$0.14 (vs CA$0.086 in FY 2021) Full year 2022 results: EPS: CA$0.14 (up from CA$0.086 in FY 2021). Revenue: CA$6.13m (up 39% from FY 2021). Net income: CA$1.26m (up 64% from FY 2021). Profit margin: 21% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 55% per year and the company’s share price has also increased by 55% per year. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CA$1.60, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 15x in the Basic Materials industry in North America. Total returns to shareholders of 305% over the past three years. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CA$1.77, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 13x in the Basic Materials industry in North America. Total returns to shareholders of 406% over the past three years. Recent Insider Transactions • Jan 22
Insider recently sold CA$51k worth of stock On the 13th of January, John Hoffmeister sold around 25k shares on-market at roughly CA$2.06 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$110k more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 16% share price gain to CA$1.85, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 13x in the Basic Materials industry in North America. Total returns to shareholders of 363% over the past three years. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CA$1.51, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 12x in the Basic Materials industry in North America. Total returns to shareholders of 278% over the past three years. Reported Earnings • Nov 23
Third quarter 2022 earnings released: EPS: CA$0.052 (vs CA$0.039 in 3Q 2021) Third quarter 2022 results: EPS: CA$0.052 (up from CA$0.039 in 3Q 2021). Revenue: CA$2.12m (up 31% from 3Q 2021). Net income: CA$468.1k (up 33% from 3Q 2021). Profit margin: 22% (in line with 3Q 2021). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment improved over the past week After last week's 18% share price gain to CA$1.65, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 12x in the Basic Materials industry in North America. Total returns to shareholders of 400% over the past three years. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 28% share price gain to CA$1.15, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 12x in the Basic Materials industry in North America. Total returns to shareholders of 219% over the past three years. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: CA$0.047 (vs CA$0.026 in 2Q 2021) Second quarter 2022 results: EPS: CA$0.047 (up from CA$0.026 in 2Q 2021). Revenue: CA$1.87m (up 47% from 2Q 2021). Net income: CA$431.2k (up 81% from 2Q 2021). Profit margin: 23% (up from 19% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 01
Full year 2021 earnings released: EPS: CA$0.086 (vs CA$0.025 in FY 2020) Full year 2021 results: EPS: CA$0.086 (up from CA$0.025 in FY 2020). Revenue: CA$4.42m (up 68% from FY 2020). Net income: CA$765.5k (up 248% from FY 2020). Profit margin: 17% (up from 8.4% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 26% per year. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improved over the past week After last week's 16% share price gain to CA$1.16, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 14x in the Basic Materials industry in North America. Total returns to shareholders of 111% over the past three years. Reported Earnings • Nov 26
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: CA$0.039 (up from CA$0.013 in 3Q 2020). Revenue: CA$1.62m (up 86% from 3Q 2020). Net income: CA$351.4k (up 196% from 3Q 2020). Profit margin: 22% (up from 14% in 3Q 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 21
Second quarter 2021 earnings released: EPS CA$0.027 (vs CA$0.011 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$1.28m (up 46% from 2Q 2020). Net income: CA$238.0k (up 143% from 2Q 2020). Profit margin: 19% (up from 11% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Reported Earnings • May 22
First quarter 2021 earnings released: EPS CA$0.01 (vs CA$0.004 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CA$721.9k (up 127% from 1Q 2020). Net income: CA$84.2k (up 170% from 1Q 2020). Profit margin: 12% (up from 9.8% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 28
Full year 2020 earnings released: EPS CA$0.025 (vs CA$0.039 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CA$2.63m (down 8.9% from FY 2019). Net income: CA$220.1k (down 37% from FY 2019). Profit margin: 8.4% (down from 12% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 20
New 90-day high: CA$0.52 The company is up 25% from its price of CA$0.41 on 19 November 2020. The Canadian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Basic Materials industry, which is up 66% over the same period. Is New 90 Day High Low • Jan 26
New 90-day high: CA$0.50 The company is up 4.0% from its price of CA$0.48 on 22 October 2020. The Canadian market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 73% over the same period. Announcement • Dec 12
Fab-Form Industries Ltd. Announces Resignation of Bruce Clark as Non-Executive Independent Director, Effective December 31,2020 Fab-Form Industries Ltd. notified its shareholders and the public that Mr. Bruce Clark, a Non-Executive Independent Director, has tendered his resignation from the Company's Board of Directors, effective December 31,2020. Mr. Clark's resignation has been accepted by the Chairman of the Board. Is New 90 Day High Low • Dec 08
New 90-day low: CA$0.36 The company is down 9.0% from its price of CA$0.40 on 09 September 2020. The Canadian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 59% over the same period. Reported Earnings • Oct 22
Third quarter earnings released Over the last 12 months the company has reported total profits of CA$335.0k, up 3.0% from the prior year. Total revenue was CA$2.62m over the last 12 months, down 11% from the prior year. Is New 90 Day High Low • Oct 15
New 90-day high: CA$0.48 The company is up 12% from its price of CA$0.43 on 17 July 2020. The Canadian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is down 6.0% over the same period. 
