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 $12.28)
- $12.28 P/E (TTM): 15.75X Cap: $958M
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CES Energy Solutions Corp. (CEU $13.56)
- $13.56 P/E (TTM): 17.36X Cap: $2.88B
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Ensign Energy Services Inc. (ESI $3.03)
- $3.03 Cap: $556M
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Precision Drilling Corporation (PD $102.89)
- $102.89 P/E (TTM): 27.06X Cap: $1.36B
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Secure Waste Infrastructure Corp. (SES $17.71)
- $17.71 P/E (TTM): 38.27X Cap: $3.86B
- View SES Profile
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Calfrac Well Services Ltd. (CFW $4.95)
- $4.95 P/E (TTM): 21.48X Cap: $425M
- View CFW Profile
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Trican Well Service Ltd. (TCW $6.20)
- $6.20 P/E (TTM): 11.14X Cap: $1.31B
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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 $19.61)
- $19.61 P/E (TTM): 12.09X Cap: $1.88B
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Pason Systems Inc. (PSI $12.28)
- $12.28 P/E (TTM): 15.75X Cap: $958M
- View PSI Profile
- View Questions on PSI
- View Reports on PSI
ATS Corporation (ATS $42.68)
- $42.68 Cap: $4.18B
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Nutrien Ltd. (NTR $92.38)
- $92.38 P/E (TTM): 55.08X Cap: $44.65B
- View NTR Profile
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kneat.com inc. (KSI $4.52)
- $4.52 Cap: $430M
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ADF Group Inc. Subordinate Voting Shares (DRX $8.78)
- $8.78 P/E (TTM): 8.77X Cap: $250M
- View DRX Profile
- View Questions on DRX
Luca Mining Corp. (LUCA $1.62)
- $1.62 Cap: $435M
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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 $33.59)
- $33.59 P/E (TTM): 5.06X Cap: $31.32B
- View BCE Profile
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Pason Systems Inc. (PSI $12.28)
- $12.28 P/E (TTM): 15.75X Cap: $958M
- View PSI Profile
- View Questions on PSI
- View Reports on PSI
TMX Group Limited (X $51.59)
- $51.59 P/E (TTM): 30.95X Cap: $14.35B
- View X Profile
- View Questions on X
- View Reports on X
goeasy Ltd. (GSY $134.29)
- $134.29 P/E (TTM): 9.73X Cap: $2.15B
- View GSY Profile
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- View Reports on GSY
Trisura Group Ltd. (TSU $45.38)
- $45.38 P/E (TTM): 18.02X Cap: $2.15B
- 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