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Investment Q&A

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Q: Good morning ... I would like to initiate a position in the oil field services industry.
Currently, I'm looking at Pason Systems and Trican Well Services. Which of the two would be your choice, and why?

Thanks, Rick
Asked by Richard on June 02, 2025
5i Research Answer:

They are similar size with similar yields. TCW is cheaper, as it is a more capital intensive business. PSI is slightly outperforming (down less). PSI has about $70M net cash. TCW has some debt but not in any way a worrying amount. Both have had volatile earnings history, and not-great growth is to be expected in the next few years. We would see PSI as the safer and better bet here. 

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