Review of Pason Systems Inc.

NOV 26, 2024 - PSI continues to be an interesting opportunity for investors looking for exposure to energy equipment & service providers. The company continues to offer an attractive yield and has historically been effective in returning capital to shareholders. We are maintaining our rating at a B, but if the broader drilling conditions improve and the inclusion of IWS can be effective, there could be a capacity to upgrade PSI.

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Pason Systems Inc. (PSI $11.94)
- $11.94 P/E (TTM): 15.29X Cap: $931M
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CES Energy Solutions Corp. (CEU $12.19)
- $12.19 P/E (TTM): 15.63X Cap: $2.59B
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Ensign Energy Services Inc. (ESI $2.45)
- $2.45 Cap: $449M
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Precision Drilling Corporation (PD $95.42)
- $95.42 P/E (TTM): 24.98X Cap: $1.26B
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Secure Waste Infrastructure Corp. (SES $17.50)
- $17.50 P/E (TTM): 39.77X Cap: $3.82B
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Calfrac Well Services Ltd. (CFW $4.15)
- $4.15 P/E (TTM): 18.04X Cap: $356M
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Trican Well Service Ltd. (TCW $5.85)
- $5.85 P/E (TTM): 10.26X Cap: $1.24B
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Q: I’m hoping you may be able to identify a top 10 list of O&G-adjacent companies that could be considered the sector’s “pick-and-shovel” CO’s that could benefit from medium and long term production increases and not so dependant on the commodity price increasing such as what O&G producers are. If possible, please rank from highest to lowest conviction for stock price appreciation over the next 5 years. Thank you.

Read Answer Asked by Tony on December 16, 2025

Parex Resources Inc. (PXT $18.11)
- $18.11 P/E (TTM): 11.61X Cap: $1.74B
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Pason Systems Inc. (PSI $11.94)
- $11.94 P/E (TTM): 15.29X Cap: $931M
- View PSI Profile
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- View Reports on PSI
ATS Corporation (ATS $38.78)
- $38.78 Cap: $3.80B
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Nutrien Ltd. (NTR $86.84)
- $86.84 P/E (TTM): 51.59X Cap: $41.97B
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kneat.com inc. (KSI $4.87)
- $4.87 Cap: $464M
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ADF Group Inc. Subordinate Voting Shares (DRX $8.85)
- $8.85 P/E (TTM): 8.85X Cap: $252M
- View DRX Profile
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Luca Mining Corp. (LUCA $1.52)
- $1.52 Cap: $408M
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Q: In my TFSA the following companies are all in the red: ATS, DRX, KSI, LUCA, NTR, PSI, PXT. Can you suggest which ones are likely to recover in the next year or two, and which ones I could sell as laggards and reinvest the money in something "growtier". Thank you.

Read Answer Asked by Ivars on December 01, 2025

BCE Inc. (BCE $31.44)
- $31.44 P/E (TTM): 4.72X Cap: $29.31B
- View BCE Profile
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Pason Systems Inc. (PSI $11.94)
- $11.94 P/E (TTM): 15.29X Cap: $931M
- View PSI Profile
- View Questions on PSI
- View Reports on PSI
TMX Group Limited (X $52.03)
- $52.03 P/E (TTM): 31.53X Cap: $14.47B
- View X Profile
- View Questions on X
- View Reports on X
goeasy Ltd. (GSY $131.25)
- $131.25 P/E (TTM): 9.55X Cap: $2.10B
- View GSY Profile
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Trisura Group Ltd. (TSU $42.92)
- $42.92 P/E (TTM): 16.83X Cap: $2.04B
- View TSU Profile
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Q: Firstly, I very much appreciate your tax loss, selling list and the explanations that came with it.

I am down about 22% on both BCE and GSY. Would either or both be appropriate for a tax loss/re-buy strategy?

On PSI, X, and TSU I am down about 6 1/2%. Is it worth considering these for the same strategy, or am I just being silly?

Thank you very much for your help.

Gary

Read Answer Asked by GARY on November 21, 2025