Review of TerraVest Industries Inc.
MAR 04, 2025 - TVK continues to be a great serial acquirer in the energy sector. TVK possessed a solid track record of value creation and best-inclass capital allocation. TVK has been one of the best-performing stocks in the Canadian market in the last 10 years. That being said, there have been changes in terms of capital allocation in recent years. The company recently issued shares and raised dividends meaningfully, which TVK has rarely done in the past. This could indicate that management believes TVK’s valuation is not as attractive as it used to be. Fundamentally, we believe TVK will do just fine. However, investors need to temper expectations as the share price performance over the next five years may not do as well as the last five years due to a higher starting valuation multiple. We think the story of TVK as a long-term compounder is still intact. We are maintaining our rating at “B+.”
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Celestica Inc. (CLS $414.70)
- $414.70 P/E (TTM): 56.31X Cap: $47.70B
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goeasy Ltd. (GSY $131.46)
- $131.46 P/E (TTM): 12.56X Cap: $2.11B
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Firan Technology Group Corporation (FTG $11.61)
- $11.61 Cap: $292M
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TerraVest Industries Inc. (TVK $164.52)
- $164.52 Cap: $3.56B
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Hammond Power Solutions Inc. Class A Subordinate Voting Shares (HPS.A $162.50)
- $162.50 P/E (TTM): 18.54X Cap: $1.93B
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Albemarle Corporation (ALB $143.93)
- $143.93 Cap: $16.94B
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Kraken Robotics Inc. (PNG $6.79)
- $6.79 P/E (TTM): 119.86X Cap: $2.08B
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Zedcor Inc. (ZDC $6.33)
- $6.33 P/E (TTM): 460.55X Cap: $668M
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Comfort Systems USA Inc. (FIX $1,003.64)
- $1,003.64 P/E (TTM): 42.81X Cap: $35.40B
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Kratos Defense & Security Solutions Inc. (KTOS $79.29)
- $79.29 P/E (TTM): 764.64X Cap: $13.38B
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BWX Technologies Inc. (BWXT $181.85)
- $181.85 P/E (TTM): 64.15X Cap: $16.62B
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Galaxy Digital Inc. Class A common stock (GLXY $34.02)
- $34.02 Cap: $13.28B
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Hims & Hers Health Inc. Class A (HIMS $33.41)
- $33.41 P/E (TTM): 85.77X Cap: $7.60B
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Tantalus Systems Holding Inc. (GRID $4.86)
- $4.86 Cap: $250M
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Robinhood Markets Inc. (HOOD $115.21)
- $115.21 P/E (TTM): 59.04X Cap: $103.59B
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Propel Holdings Inc. (PRL $24.44)
- $24.44 P/E (TTM): 10.89X Cap: $961M
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Telesat Corporation Common and Variable Voting Shares (TSAT $39.50)
- $39.50 Cap: $1.42B
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Reddit Inc. Class A (RDDT $241.89)
- $241.89 P/E (TTM): 112.0X Cap: $45.83B
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Graphite One Inc. (GPH $1.90)
- $1.90 Cap: $327M
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Celestica Inc. (CLS $414.70)
- $414.70 P/E (TTM): 56.31X Cap: $47.70B
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TerraVest Industries Inc. (TVK $164.52)
- $164.52 Cap: $3.56B
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Aritzia Inc. Subordinate Voting Shares (ATZ $117.18)
- $117.18 P/E (TTM): 36.69X Cap: $13.52B
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Kraken Robotics Inc. (PNG $6.79)
- $6.79 P/E (TTM): 119.86X Cap: $2.08B
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Vitality Products Inc. (VPI $0.03)
- $0.03 Cap: $1M
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Happy Belly Food Group Inc. (HBFG $2.23)
- $2.23 Cap: $291M
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Groupe Dynamite Inc. Subordinate voting shares (GRGD $81.04)
- $81.04 P/E (TTM): 42.53X Cap: $8.77B
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Broadcom CDR (CAD Hedged) (AVGO)
- P/E (TTM): 277.48X
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Palantir CDR (CAD Hedged) (PLTR $12.93)
- $12.93 P/E (TTM): 988.16X Cap: $615.20B
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TerraVest Industries Inc. (TVK $164.52)
- $164.52 Cap: $3.56B
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Thank You