Declared Dividend • May 20
First quarter dividend of CA$0.13 announced Shareholders will receive a dividend of CA$0.13. Ex-date: 16th June 2026 Payment date: 30th June 2026 Dividend yield will be 4.3%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (87% earnings payout ratio) and cash flows (79% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 30% over the next year, which should provide support to the dividend and adequate earnings cover. Duyuru • Feb 27
Pason Systems Inc. Declares Quarterly Dividend, Payable on March 31, 2026 Pason announced that the Board of Directors have declared a quarterly dividend of thirteen cents (CAD 0.13) per share on the company's common shares. The dividend will be paid on March 31, 2026 to shareholders of record at the close of business on March 17, 2026. Duyuru • Feb 24
Pason Systems Inc., Annual General Meeting, May 07, 2026 Pason Systems Inc., Annual General Meeting, May 07, 2026. Duyuru • Nov 07
Pason Systems Inc. Declares Quarterly Dividend, Payable on December 31, 2025 Pason Systems Inc. announced that the Board of Directors have declared a quarterly dividend of thirteen cents (CAD 0.13) per share on the company's common shares. The dividend will be paid on December 31, 2025 to shareholders of record at the close of business on December 17, 2025. Duyuru • Oct 05
Pason Systems Inc. to Report Q4, 2025 Results on Feb 26, 2026 Pason Systems Inc. announced that they will report Q4, 2025 results After-Market on Feb 26, 2026 Duyuru • Aug 08
Pason Systems Inc. Declares Quarterly Dividend, Payable on September 29, 2025 Pason announced that the Board of Directors have declared a quarterly dividend of thirteen cents(CAD 0.13) per share on the company's common shares. The dividend will be paid on September 29, 2025 to shareholders of record at the close of business on September 15, 2025. Duyuru • May 02
Pason Systems Inc. Declares Quarterly Dividend, Payable on June 30, 2025 Pason announced that the Board of Directors have declared a quarterly dividend of thirteen cents (CAD 0.13) per share on the company's common shares. The dividend will be paid on June 30, 2025 to shareholders of record at the close of business on June 16, 2025. Duyuru • Feb 28
Pason Systems Inc. Declares Quarterly Dividend, Payable on March 31, 2025 Pason announced that the Board of Directors have declared a quarterly dividend of thirteen cents (CAD 0.13) per share on the company's common shares. The dividend will be paid on March 31, 2025 to shareholders of record at the close of business on March 17, 2025. Duyuru • Feb 18
Pason Systems Inc., Annual General Meeting, May 01, 2025 Pason Systems Inc., Annual General Meeting, May 01, 2025. Duyuru • Jan 11
Pason Systems Inc. to Report Q1, 2025 Results on May 01, 2025 Pason Systems Inc. announced that they will report Q1, 2025 results at 4:00 PM, US Eastern Standard Time on May 01, 2025 Duyuru • Jan 10
Pason Systems Inc. to Report Q4, 2024 Results on Feb 27, 2025 Pason Systems Inc. announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Feb 27, 2025 New Risk • Nov 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 53% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 6.1% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: CA$0.30 (vs CA$0.35 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.30 (down from CA$0.35 in 3Q 2023). Revenue: CA$105.9m (up 14% from 3Q 2023). Net income: CA$24.2m (down 13% from 3Q 2023). Profit margin: 23% (down from 30% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 08
Pason Systems Inc. Declares Quarterly Dividend, Payable on December 31, 2024 Pason Systems Inc. announced that the Board of Directors have declared a quarterly dividend of thirteen cents (CAD 0.13) per share on the company's common shares. The dividend will be paid on December 31, 2024, to shareholders of record at the close of business on December 17, 2024. New Risk • Oct 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Upcoming Dividend • Sep 06
Upcoming dividend of CA$0.13 per share Eligible shareholders must have bought the stock before 13 September 2024. Payment date: 27 September 2024. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.2%). Declared Dividend • Aug 12
Second quarter dividend of CA$0.13 announced Shareholders will receive a dividend of CA$0.13. Ex-date: 13th September 2024 Payment date: 27th September 2024 Dividend yield will be 4.0%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (34% earnings payout ratio) and cash flows (64% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 7.2% over the next 3 years. However, it would need to fall by 62% to increase the payout ratio to a potentially unsustainable range. New Risk • Aug 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 55% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 7.1% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: CA$0.14 (vs CA$0.32 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.14 (down from CA$0.32 in 2Q 2023). Revenue: CA$95.9m (up 13% from 2Q 2023). Net income: CA$10.9m (down 57% from 2Q 2023). Profit margin: 11% (down from 30% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 07
Upcoming dividend of CA$0.13 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (3.8%). Declared Dividend • May 08
First quarter dividend of CA$0.13 announced Shareholders will receive a dividend of CA$0.13. Ex-date: 14th June 2024 Payment date: 28th June 2024 Dividend yield will be 3.6%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (30% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. EPS is expected to decline by 6.7% over the next year. However, it would need to fall by 67% to increase the payout ratio to a potentially unsustainable range. New Risk • May 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 48% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 6.1% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • May 03
First quarter 2024 earnings released: EPS: CA$0.87 (vs CA$0.44 in 1Q 2023) First quarter 2024 results: EPS: CA$0.87 (up from CA$0.44 in 1Q 2023). Revenue: CA$104.8m (up 6.6% from 1Q 2023). Net income: CA$69.5m (up 94% from 1Q 2023). Profit margin: 66% (up from 37% in 1Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 1.8% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Duyuru • May 03
Pason Systems Inc. Declares Quarterly Dividend, Payable on June 28, 2024 Pason Systems Inc. announced that the Board of Directors have declared a quarterly dividend of thirteen cents (CAD 0.13) per share on the company's common shares. The dividend will be paid on June 28, 2024, to shareholders of record at the close of business on June 14, 2024. Duyuru • Mar 16
Pason Systems Inc. to Report Q3, 2024 Results on Nov 07, 2024 Pason Systems Inc. announced that they will report Q3, 2024 results After-Market on Nov 07, 2024 Upcoming Dividend • Mar 07
Upcoming dividend of CA$0.13 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 29 March 2024. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (5.1%). In line with average of industry peers (4.0%). Declared Dividend • Mar 04
Fourth quarter dividend of CA$0.13 announced Shareholders will receive a dividend of CA$0.13. Ex-date: 14th March 2024 Payment date: 29th March 2024 Dividend yield will be 4.0%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. EPS is expected to grow by 25% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Mar 01
Pason Declares Increased Quarterly Dividend on the Company's Common Shares, Payable on March 29, 2024 Pason announced that the Board of Directors have declared an increased quarterly dividend of thirteen cents (CAD 0.13) per share on the company's common shares. The dividend will be paid on March 29, 2024, to shareholders of record at the close of business on March 15, 2024. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: CA$1.21 (vs CA$1.31 in FY 2022) Full year 2023 results: EPS: CA$1.21 (down from CA$1.31 in FY 2022). Revenue: CA$369.3m (up 10% from FY 2022). Net income: CA$97.5m (down 9.4% from FY 2022). Profit margin: 26% (down from 32% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 1.9% growth forecast for the Energy Services industry in Europe. 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 15% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 17
Pason Systems Inc., Annual General Meeting, May 02, 2024 Pason Systems Inc., Annual General Meeting, May 02, 2024. Duyuru • Jan 12
Pason Systems Inc. to Report Q4, 2023 Results on Feb 28, 2024 Pason Systems Inc. announced that they will report Q4, 2023 results After-Market on Feb 28, 2024 Duyuru • Jan 03
Pason Systems Inc. (TSX:PSI) acquired remaining stake in Intelligent Wellhead Systems, Inc. for CAD 88.2 million. Pason Systems Inc. (TSX:PSI) acquired remaining stake in Intelligent Wellhead Systems, Inc. for CAD 88.2 million on January 1, 2024. As part of the Transaction, Pason assumed net debt of approximately CAD 7 million. The Transaction was funded by Pason with cash on hand.Pason Systems Inc. (TSX:PSI) completed the acquisition of remaining stake in Intelligent Wellhead Systems, Inc. on January 1, 2024. Upcoming Dividend • Dec 07
Upcoming dividend of CA$0.12 per share at 3.2% yield Eligible shareholders must have bought the stock before 14 December 2023. Payment date: 29 December 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (4.2%). New Risk • Nov 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.0% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 5.0% per year for the foreseeable future. High level of non-cash earnings (23% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Duyuru • Nov 03
Pason Systems Inc. Declares Quarterly Dividend, Payable on December 29, 2023 Pason Systems Inc. announced that the Board of Directors have declared a quarterly dividend of twelve cents (CAD 0.12) per share on the company's common shares. The dividend will be paid on December 29, 2023, to shareholders of record at the close of business on December 15, 2023. Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: CA$0.35 (vs CA$0.42 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.35 (down from CA$0.42 in 3Q 2022). Revenue: CA$93.1m (flat on 3Q 2022). Net income: CA$27.7m (down 19% from 3Q 2022). Profit margin: 30% (down from 37% in 3Q 2022). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 07
Upcoming dividend of CA$0.12 per share at 3.4% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 29 September 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.1%). Duyuru • Aug 11
Pason Systems Inc. Declares Quarterly Dividend, Payable on September 29, 2023 Pason Systems Inc. announced that the Board of Directors have declared a quarterly dividend of CAD 0.12 per share on the company's common shares. The dividend will be paid on September 29, 2023, to shareholders of record at the close of business on September 15, 2023. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: CA$0.32 (vs CA$0.23 in 2Q 2022) Second quarter 2023 results: EPS: CA$0.32 (up from CA$0.23 in 2Q 2022). Revenue: CA$84.7m (up 15% from 2Q 2022). Net income: CA$25.5m (up 37% from 2Q 2022). Profit margin: 30% (up from 25% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. New Risk • Jul 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. High level of non-cash earnings (24% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Buying Opportunity • Jul 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 4.3%. The fair value is estimated to be €9.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 65%. Revenue is forecast to grow by 3.3% in a year. Earnings is forecast to decline by 3.3% in the next year. Upcoming Dividend • Jun 07
Upcoming dividend of CA$0.12 per share at 4.1% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (4.5%). Reported Earnings • May 07
First quarter 2023 earnings released: EPS: CA$0.44 (vs CA$0.23 in 1Q 2022) First quarter 2023 results: EPS: CA$0.44 (up from CA$0.23 in 1Q 2022). Revenue: CA$98.2m (up 32% from 1Q 2022). Net income: CA$35.8m (up 93% from 1Q 2022). Profit margin: 37% (up from 25% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Duyuru • May 06
Pason Systems Inc. Declares Quarterly Dividend, Payable on June 30, 2023 Pason Systems Inc. Board of Directors have declared a quarterly dividend of twelve cents (C$0.12) per share on the company's common shares. The dividend will be paid on June 30, 2023, to shareholders of record at the close of business on June 15, 2023. Reported Earnings • Mar 04
Full year 2022 earnings released: EPS: CA$1.31 (vs CA$0.41 in FY 2021) Full year 2022 results: EPS: CA$1.31 (up from CA$0.41 in FY 2021). Revenue: CA$335.0m (up 62% from FY 2021). Net income: CA$107.6m (up 218% from FY 2021). Profit margin: 32% (up from 16% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Feb 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be €12.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.0% over the last 3 years. Earnings per share has grown by 8.9%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 61% in the next 2 years. Buying Opportunity • Jan 18
Now 20% undervalued Over the last 90 days, the stock is up 7.5%. The fair value is estimated to be €14.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.0% over the last 3 years. Earnings per share has grown by 8.9%. Revenue is forecast to grow by 22% in a year. Earnings is forecast to grow by 38% in the next year. Duyuru • Jan 10
Pason Systems Inc. Announces Appointment of Ken Mullen to Its Board of Directors Pason Systems Inc. announced the appointment of Ken Mullen to its board of directors. Mr. Mullen has over 25 years of experience holding various executive and director positions with public and private energy and energy services companies. He is currently engaged as a dealing representative with Barometer Capital Management Inc. and was previously the co-founder and President & CEO of Savanna Energy Services Corp. Prior to this, he was President & CEO of Plains Energy Services Ltd. He currently serves on the board of Total Energy Services Inc. Mr. Mullen received his Bachelor of Commerce and Bachelor of Laws degrees from the University of Calgary and holds Chartered Accountant and Institute of Corporate Directors designations. He joins the board of Pason as an independent, non-executive director and will stand for nomination at the next annual meeting of shareholders. Duyuru • Jan 06
Pason Systems Inc. to Report Q4, 2022 Results on Mar 02, 2023 Pason Systems Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Mar 02, 2023 Upcoming Dividend • Dec 07
Upcoming dividend of CA$0.12 per share Eligible shareholders must have bought the stock before 14 December 2022. Payment date: 31 December 2022. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (3.7%). Recent Insider Transactions • Nov 23
Vice President of Operations recently bought €212k worth of stock On the 17th of November, Bryce McLean bought around 23k shares on-market at roughly €9.36 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Bryce's only on-market trade for the last 12 months. Reported Earnings • Nov 04
Third quarter 2022 earnings released: EPS: CA$0.42 (vs CA$0.16 in 3Q 2021) Third quarter 2022 results: EPS: CA$0.42 (up from CA$0.16 in 3Q 2021). Revenue: CA$92.5m (up 60% from 3Q 2021). Net income: CA$34.2m (up 162% from 3Q 2021). Profit margin: 37% (up from 23% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 6.9% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 5% per year. Upcoming Dividend • Sep 07
Upcoming dividend of CA$0.08 per share Eligible shareholders must have bought the stock before 14 September 2022. Payment date: 29 September 2022. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.1%). Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: CA$0.23 (vs CA$0.064 in 2Q 2021) Second quarter 2022 results: EPS: CA$0.23 (up from CA$0.064 in 2Q 2021). Revenue: CA$73.6m (up 69% from 2Q 2021). Net income: CA$18.5m (up 249% from 2Q 2021). Profit margin: 25% (up from 12% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 27%, compared to a 13% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jun 07
Upcoming dividend of CA$0.08 per share Eligible shareholders must have bought the stock before 14 June 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (3.4%). Reported Earnings • Apr 30
First quarter 2022 earnings released: EPS: CA$0.23 (vs CA$0.052 in 1Q 2021) First quarter 2022 results: EPS: CA$0.23 (up from CA$0.052 in 1Q 2021). Revenue: CA$74.5m (up 75% from 1Q 2021). Net income: CA$18.6m (up 330% from 1Q 2021). Profit margin: 25% (up from 10% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 31%, compared to a 19% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 16% share price gain to €10.40, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 11x in the Energy Services industry in Europe. Total loss to shareholders of 10% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €15.28 per share. Upcoming Dividend • Mar 07
Upcoming dividend of CA$0.08 per share Eligible shareholders must have bought the stock before 14 March 2022. Payment date: 31 March 2022. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.5%). Lower than average of industry peers (4.2%). Duyuru • Mar 01
Pason Systems Inc. to Report Q2, 2022 Results on Aug 10, 2022 Pason Systems Inc. announced that they will report Q2, 2022 results After-Market on Aug 10, 2022 Reported Earnings • Feb 24
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: CA$0.41 (up from CA$0.078 in FY 2020). Revenue: CA$206.7m (up 32% from FY 2020). Net income: CA$33.8m (up 415% from FY 2020). Profit margin: 16% (up from 4.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 34%, compared to a 21% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Duyuru • Feb 24
Pason Systems Inc. Declares Quarterly Dividend, Payable on March 31, 2022 Pason Systems Inc. announced that the Board of Directors have declared an increased quarterly dividend of eight cents (CAD 0.08) per share on the company's common shares. The dividend will be paid on March 31, 2022, to shareholders of record at the close of business on March 15, 2022. Upcoming Dividend • Dec 07
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 14 December 2021. Payment date: 31 December 2021. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (3.4%). Lower than average of industry peers (4.7%). Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment improved over the past week After last week's 17% share price gain to €7.65, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 9x in the Energy Services industry in Europe. Total loss to shareholders of 40% over the past three years. Reported Earnings • Nov 05
Third quarter 2021 earnings released: EPS CA$0.16 (vs CA$0.044 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CA$57.7m (up 150% from 3Q 2020). Net income: CA$13.1m (up CA$16.8m from 3Q 2020). Profit margin: 23% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 07
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 14 September 2021. Payment date: 29 September 2021. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (4.4%). Reported Earnings • Aug 14
Second quarter 2021 earnings released: EPS CA$0.064 (vs CA$0.053 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$43.6m (up 62% from 2Q 2020). Net income: CA$5.31m (up CA$9.79m from 2Q 2020). Profit margin: 12% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Duyuru • Aug 11
Pason Systems Inc. (TSX:PSI) acquired an unknown additional stake in Intelligent Wellhead Systems Inc. for CAD 7.1 million. Pason Systems Inc. (TSX:PSI) acquired an unknown additional stake in Intelligent Wellhead Systems Inc. for CAD 7.1 million during the second quarter of 2021.
Pason Systems Inc. (TSX:PSI) completed the acquisition of an unknown additional stake in Intelligent Wellhead Systems Inc. during the second quarter of 2021. Upcoming Dividend • Jun 07
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 14 June 2021. Payment date: 29 June 2021. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.6%). Reported Earnings • May 01
First quarter 2021 earnings released: EPS CA$0.05 (vs CA$0.20 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: CA$42.6m (down 43% from 1Q 2020). Net income: CA$4.32m (down 75% from 1Q 2020). Profit margin: 10% (down from 23% in 1Q 2020). The decrease in margin was driven by lower revenue. 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 20% per year, which means it has not declined as severely as earnings. Duyuru • Apr 30
Pason Systems Inc. Announces Quarterly Dividend, Payable on June 29, 2021 Pason Systems Inc. announced that the Board of Directors declared a quarterly dividend of five cents (CAD 0.05) per share on the company’s common shares. The dividend will be paid on June 29, 2021, to shareholders of record at the close of business on June 15, 2021. Upcoming Dividend • Mar 08
Upcoming Dividend of CA$0.05 Per Share Will be paid on the 30th of March to those who are registered shareholders by the 15th of March. The trailing yield of 2.0% is below the top quartile of German dividend payers (3.4%), but is in line with industry peers (2.1%). Reported Earnings • Feb 26
Full year 2020 earnings released: EPS CA$0.08 (vs CA$0.63 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CA$156.6m (down 47% from FY 2019). Net income: CA$6.57m (down 88% from FY 2019). Profit margin: 4.2% (down from 18% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Analyst Estimate Surprise Post Earnings • Feb 26
Revenue beats expectations Revenue exceeded analyst estimates by 2.4%. Over the next year, revenue is forecast to grow 3.6% compared to a 11% decline forecast for the Energy Services industry in Germany. Is New 90 Day High Low • Feb 23
New 90-day high: €5.90 The company is up 25% from its price of €4.72 on 25 November 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.91 per share. Duyuru • Jan 13
Pason Systems Inc., Annual General Meeting, Apr 29, 2021 Pason Systems Inc., Annual General Meeting, Apr 29, 2021. Duyuru • Jan 12
Pason Systems Inc. to Report Q4, 2020 Results on Feb 24, 2021 Pason Systems Inc. announced that they will report Q4, 2020 results After-Market on Feb 24, 2021 Is New 90 Day High Low • Jan 07
New 90-day high: €5.40 The company is up 52% from its price of €3.56 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 40% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.92 per share. Recent Insider Transactions • Jan 02
President recently bought €51k worth of stock On the 31st of December, Jon Faber bought around 10k shares on-market at roughly €5.10 per share. This was the largest purchase by an insider in the last 3 months. Jon has been a buyer over the last 12 months, purchasing a net total of €74k worth in shares. Is New 90 Day High Low • Dec 08
New 90-day high: €4.82 The company is up 43% from its price of €3.36 on 09 September 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 32% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.29 per share. Upcoming Dividend • Dec 08
Upcoming Dividend of CA$0.05 Per Share Will be paid on the 30th of December to those who are registered shareholders by the 15th of December. The trailing yield of 2.8% is below the top quartile of German dividend payers (3.6%), but it is higher than industry peers (2.4%). Valuation Update With 7 Day Price Move • Nov 20
Market bids up stock over the past week After last week's 18% share price gain to CA$4.26, the stock is trading at a trailing P/E ratio of 29.7x, up from the previous P/E ratio of 25.1x. This compares to an average P/E of 12x in the Energy Services industry in Europe. Total return to shareholders over the past three years is a loss of 58%. Is New 90 Day High Low • Nov 20
New 90-day high: €4.26 The company is up 9.0% from its price of €3.92 on 21 August 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Energy Services industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.22 per share. Valuation Update With 7 Day Price Move • Nov 12
Market bids up stock over the past week After last week's 20% share price gain to CA$3.98, the stock is trading at a trailing P/E ratio of 26.4x, up from the previous P/E ratio of 22x. This compares to an average P/E of 13x in the Energy Services industry in Europe. Total return to shareholders over the past three years is a loss of 60%. Reported Earnings • Nov 07
Third quarter 2020 earnings released: CA$0.04 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: CA$23.1m (down 68% from 3Q 2019). Net loss: CA$3.70m (down 124% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue beats expectations Revenue exceeded analyst estimates by 1.7%. Over the next year, revenue is expected to shrink by 25% compared to a 17% decline forecast for the Energy Services industry in Germany. Is New 90 Day High Low • Oct 31
New 90-day low: €3.18 The company is down 21% from its price of €4.02 on 31 July 2020. The German market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Energy Services industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.22 per share. Duyuru • Oct 27
Pason Systems Inc. Appoints Celine Boston as Chief Financial Officer, Effective November 30, 2020 Pason Systems Inc. announced the appointment of Celine Boston as Pason's Chief Financial Officer effective November 30, 2020. Ms. Boston joins Pason from CES Energy Solutions Corp. David Elliott had previously indicated his desire to retire from Pason and agreed to remain with the Company as CFO on an interim basis through the leadership transition which took effect on October 1, 2020 to allow the Company to search for a permanent CFO. Upon the appointment of Ms. Boston to the CFO role, Mr. Elliott will continue to assist the Company in a transitional role until his retirement in early 2021.