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We Think Some Shareholders May Hesitate To Increase Boardwalktech Software Corp.'s (CVE:BWLK) CEO Compensation
Key Insights
- Boardwalktech Software will host its Annual General Meeting on 24th of November
- Total pay for CEO Andy Duncan includes US$241.0k salary
- Total compensation is similar to the industry average
- Over the past three years, Boardwalktech Software's EPS grew by 20% and over the past three years, the total loss to shareholders 93%
In the past three years, the share price of Boardwalktech Software Corp. (CVE:BWLK) has struggled to grow and now shareholders are sitting on a loss. However, what is unusual is that EPS growth has been positive, suggesting that the share price has diverged from fundamentals. Shareholders may want to question the board on the future direction of the company at the upcoming AGM on 24th of November. They could also try to influence management and firm direction through voting on resolutions such as executive remuneration and other company matters. We discuss below why we think shareholders should be cautious of approving a raise for the CEO at the moment.
See our latest analysis for Boardwalktech Software
Comparing Boardwalktech Software Corp.'s CEO Compensation With The Industry
Our data indicates that Boardwalktech Software Corp. has a market capitalization of CA$3.6m, and total annual CEO compensation was reported as US$241k for the year to March 2025. This was the same as last year. Notably, the salary of US$241k is the entirety of the CEO compensation.
For comparison, other companies in the Canadian Software industry with market capitalizations below CA$281m, reported a median total CEO compensation of US$196k. So it looks like Boardwalktech Software compensates Andy Duncan in line with the median for the industry.
| Component | 2025 | 2024 | Proportion (2025) |
| Salary | US$241k | US$241k | 100% |
| Other | - | - | - |
| Total Compensation | US$241k | US$241k | 100% |
On an industry level, roughly 83% of total compensation represents salary and 17% is other remuneration. At the company level, Boardwalktech Software pays Andy Duncan solely through a salary, preferring to go down a conventional route. If total compensation veers towards salary, it suggests that the variable portion - which is generally tied to performance, is lower.
Boardwalktech Software Corp.'s Growth
Boardwalktech Software Corp. has seen its earnings per share (EPS) increase by 20% a year over the past three years. In the last year, its revenue is down 21%.
Shareholders would be glad to know that the company has improved itself over the last few years. It's always a tough situation when revenues are not growing, but ultimately profits are more important. We don't have analyst forecasts, but you could get a better understanding of its growth by checking out this more detailed historical graph of earnings, revenue and cash flow.
Has Boardwalktech Software Corp. Been A Good Investment?
The return of -93% over three years would not have pleased Boardwalktech Software Corp. shareholders. So shareholders would probably want the company to be less generous with CEO compensation.
In Summary...
Boardwalktech Software rewards its CEO solely through a salary, ignoring non-salary benefits completely. The fact that shareholders are sitting on a loss on the value of their shares in the past few years is certainly disconcerting. The stock's movement is disjointed with the company's earnings growth, which ideally should move in the same direction. Shareholders would probably be keen to find out what are the other factors could be weighing down the stock. At the upcoming AGM, shareholders will get the opportunity to discuss any issues with the board, including those related to CEO remuneration and assess if the board's plan will likely improve performance in the future.
CEO compensation is an important area to keep your eyes on, but we've also need to pay attention to other attributes of the company. We identified 5 warning signs for Boardwalktech Software (2 shouldn't be ignored!) that you should be aware of before investing here.
Of course, you might find a fantastic investment by looking at a different set of stocks. So take a peek at this free list of interesting companies.
Valuation is complex, but we're here to simplify it.
Discover if Boardwalktech Software might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.
Access Free AnalysisHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About TSXV:BWLK
Boardwalktech Software
Provides enterprise software-as-a-service solutions worldwide.
Moderate risk and slightly overvalued.
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