Investment Q&A

• Canadian Pacific Kansas City Limited (CP $120.73)
  • $120.73 P/E (TTM): 25.25X Cap: $107.40B
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• Constellation Software Inc. (CSU $2,541.55)
  • $2,541.55 P/E (TTM): 56.43X Cap: $55.26B
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• Descartes Systems Group Inc. (The) (DSG $90.63)
  • $90.63 P/E (TTM): 37.49X Cap: $7.98B
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• TFI International Inc. (TFII $163.96)
  • $163.96 P/E (TTM): 40.73X Cap: $13.40B
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• Alimentation Couche-Tard Inc. (ATD $83.37)
  • $83.37 P/E (TTM): 22.84X Cap: $76.65B
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• Premium Brands Holdings Corporation (PBH $105.23)
  • $105.23 P/E (TTM): 72.19X Cap: $4.70B
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• Boyd Group Services Inc. (BYD $237.71)
  • $237.71 P/E (TTM): 234.31X Cap: $6.70B
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• Brookfield Corporation Class A Limited Voting Shares (BN $59.63)
  • $59.63 P/E (TTM): 88.8X Cap: $139.65B
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Q: Please rank these stock for risk relative to US Tariffs from High to Low.....yes, wonder how defensive these CDN stocks are......Many thanks.....Tom

Upvote 7

Read Answer Asked by Tom on February 24, 2025

• Russel Metals Inc. (RUS $48.05)
  • $48.05 P/E (TTM): 15.86X Cap: $2.74B
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• Propel Holdings Inc. (PRL $21.04)
  • $21.04 P/E (TTM): 9.8X Cap: $853M
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Q: Would you be comfortable adding to a position at these levels?

Upvote 5

Read Answer Asked by Gary on February 24, 2025

• CGI Inc. Class A Subordinate Voting Shares (GIB.A $100.34)
  • $100.34 P/E (TTM): 13.09X Cap: $21.52B
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Q: Regarding Tom's question on Feb 21, regarding rating companies for tariff risk high to low, you rated GIB.A as the second highest risk of Tom's list of companies. As this company is near the top of my watch list to buy, would you expand on this company's risk exposure to tariffs.

Upvote 6

Read Answer Asked by Brendon on February 24, 2025

• Aecon Group Inc. (ARE $37.89)
  • $37.89 P/E (TTM): 367.8X Cap: $2.44B
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• Bird Construction Inc. (BDT $31.74)
  • $31.74 P/E (TTM): 18.44X Cap: $1.77B
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Q: These E&C companies have been correcting for a while now - would you prefer either one and why and if so, a preferred entry point? Thanks!

Upvote 5

Read Answer Asked by Michael on February 21, 2025

• Toronto-Dominion Bank (The) (TD $133.14)
  • $133.14 P/E (TTM): 11.22X Cap: $230.71B
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• BCE Inc. (BCE $35.86)
  • $35.86 P/E (TTM): 5.36X Cap: $32.76B
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• Enbridge Inc. (ENB $72.61)
  • $72.61 P/E (TTM): 27.44X Cap: $155.92B
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• Canadian Natural Resources Limited (CNQ $59.69)
  • $59.69 P/E (TTM): 18.3X Cap: $122.79B
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• TELUS Corporation (T $18.73)
  • $18.73 P/E (TTM): 25.83X Cap: $29.22B
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• Fairfax Financial Holdings Limited Subordinate Voting Shares (FFH $2,346.90)
  • $2,346.90 P/E (TTM): 7.99X Cap: $49.85B
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• Fortis Inc. (FTS $78.47)
  • $78.47 P/E (TTM): 22.42X Cap: $39.34B
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• Tourmaline Oil Corp. (TOU $64.25)
  • $64.25 P/E (TTM): 17.98X Cap: $24.26B
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• Celestica Inc. (CLS $376.50)
  • $376.50 P/E (TTM): 49.65X Cap: $43.90B
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• Aritzia Inc. Subordinate Voting Shares (ATZ $121.65)
  • $121.65 Cap: $15.12B
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• Pembina Pipeline Corp. (Canada) (PBA $44.00)
  • $44.00 P/E (TTM): 21.18X Cap: $25.57B
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• Royal Bank Of Canada (RY $167.40)
  • $167.40 P/E (TTM): 16.23X Cap: $237.65B
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• Brookfield Renewable Partners L.P. Limited Partnership Units (BEP $31.62)
  • $31.62 Cap: $21.05B
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• Boyd Group Services Inc. (BYD $237.71)
  • $237.71 P/E (TTM): 234.31X Cap: $6.70B
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• ARCpoint Inc. (ARC $0.01)
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• Brookfield Asset Management Ltd. Class A Limited Voting Shares (BAM $63.89)
  • $63.89 P/E (TTM): 30.6X Cap: $107.33B
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• F/m US Treasury 3 Month Bill Fund (TBIL $49.86)
  • $49.86 Cap: $6.38B
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Q: Hi group can you please comment on Capitol direct trust - last quarter they paid out 9% + over last 3 yrs they have averaged 7+ %. What is your assessment of the risk rewards in this sector i suspect that restrictions on liquidly and management fees are concerns but the attractive quarterly payout are very attractive in this unstable market overall your thoughts please. I am 74 and retired so steady income is a driver. Also please rate the above stocks (1-10 . 10 being best) Thanks for your help

Upvote 8

Read Answer Asked by Terence on February 21, 2025

• TFI International Inc. (TFII $163.96)
  • $163.96 P/E (TTM): 40.73X Cap: $13.40B
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Q: Good morning Peter & team:
What’s a good entry point for Tfii given its 15% drop today. Is this a temporary blip ? Would u wait for another qtr. and decide, or enter the mkt. now. What impact would tariff on this stock in the next 2-3 yrs. Thank you

Upvote 4

Read Answer Asked by DAVID on February 21, 2025

• AtkinsRéalis Group Inc. (ATRL $94.45)
  • $94.45 P/E (TTM): 6.28X Cap: $15.92B
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Q: Why is this stock on the downward slope? Thanks. Cheers

Upvote 4

Read Answer Asked by Hans on February 21, 2025

• Descartes Systems Group Inc. (The) (DSG $90.63)
  • $90.63 P/E (TTM): 37.49X Cap: $7.98B
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• Vertiv Holdings LLC Class A (VRT $252.37)
  • $252.37 P/E (TTM): 92.61X Cap: $99.18B
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• Cellebrite DI Ltd. (CLBT $13.28)
  • $13.28 Cap: $3.29B
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• Propel Holdings Inc. (PRL $21.04)
  • $21.04 P/E (TTM): 9.8X Cap: $853M
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• Lumine Group Inc. (LMN $21.33)
  • $21.33 P/E (TTM): 74.82X Cap: $5.70B
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Q: These stocks have pulled back recently. Would you be adding to these stocks at these levels and in what order would you add?

Are there other small caps you prefer?

Thanks
Tim

Upvote 18

Read Answer Asked by Timothy on February 21, 2025

• NexGen Energy Ltd. (NXE $17.26)
  • $17.26 Cap: $11.40B
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• Constellation Software Inc. (CSU $2,541.55)
  • $2,541.55 P/E (TTM): 56.43X Cap: $55.26B
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• Dollarama Inc. (DOL $200.98)
  • $200.98 P/E (TTM): 41.55X Cap: $55.03B
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• Lumine Group Inc. (LMN $21.33)
  • $21.33 P/E (TTM): 74.82X Cap: $5.70B
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Q: Can you provide me updates on the 4 companies listed. Thanks very much.

Upvote 6

Read Answer Asked by Dave on February 21, 2025

• Gildan Activewear Inc. (GIL $92.98)
  • $92.98 P/E (TTM): 22.88X Cap: $14.09B
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• Gildan Activewear Inc. Class A Sub. Vot. (GIL $68.18)
  • $68.18 P/E (TTM): 22.88X Cap: $10.30B
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Q: Good morning.

Please comment on the prospects of GIL with respect to 'tariff' climate, 2025 performance, and entry price point.

Grazzia

Upvote 1

Read Answer Asked by Franklin on February 21, 2025

• CGI Inc. Class A Subordinate Voting Shares (GIB.A $100.34)
  • $100.34 P/E (TTM): 13.09X Cap: $21.52B
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• Dollarama Inc. (DOL $200.98)
  • $200.98 P/E (TTM): 41.55X Cap: $55.03B
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• WSP Global Inc. (WSP $228.39)
  • $228.39 P/E (TTM): 32.34X Cap: $31.85B
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• FirstService Corporation (FSV $214.94)
  • $214.94 P/E (TTM): 50.65X Cap: $9.95B
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• Thomson Reuters Corporation (TRI $131.97)
  • $131.97 P/E (TTM): 20.99X Cap: $60.72B
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• EQB Inc. (EQB $116.10)
  • $116.10 P/E (TTM): 17.76X Cap: $4.25B
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• Waste Connections Inc. (WCN $234.28)
  • $234.28 P/E (TTM): 39.32X Cap: $59.77B
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• Brookfield Asset Management Ltd. Class A Limited Voting Shares (BAM $63.89)
  • $63.89 P/E (TTM): 30.6X Cap: $107.33B
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Q: Please ranks these stock for risk from US Tariffs from High to Low.....Tom

Upvote 8

Read Answer Asked by Tom on February 21, 2025

Q: Hi,

When doing a regional allocation would you allocate the following to Canada or US or international?

AEM,ATD,BAM,BN,BEP.UN, CCO,CSU,SHOP,SLF and TRI

Regards.

Rajiv

Upvote 6

Read Answer Asked by Rajiv on February 21, 2025

• Air Canada Voting and Variable Voting Shares (AC $20.56)
  • $20.56 Cap: $6.27B
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• AtkinsRéalis Group Inc. (ATRL $94.45)
  • $94.45 P/E (TTM): 6.28X Cap: $15.92B
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Q: High speed rail between Toronto and Quebec City.
Is there any public companies that may benefit such as CNR or will it be operated by VIA.

Upvote 2

Read Answer Asked by Doug on February 21, 2025

• TFI International Inc. (TFII $163.96)
  • $163.96 P/E (TTM): 40.73X Cap: $13.40B
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Q: Hi 5i, long time holder of TFII, time to move on? If not what would you do, buy more if underweight? As of writing this, it s down 28%. Thx.

Upvote 4

Read Answer Asked by Christopher on February 20, 2025

• TFI International Inc. (TFII $163.96)
  • $163.96 P/E (TTM): 40.73X Cap: $13.40B
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Q: The earnings call hasn't taken place yet but TFII's earnings appear to be a bust. They missed all important metrics, some by quite a bit. After the call, can you comment on this and does management have a good response to the weak quarter. In your response to the initial question, you gave numbers but little commentary. How bad would you rate the results? Can you assess the future? Has the lustre left the room? TFII has been a great performer the past 10 years but I'm starting to question the future.

Upvote 5

Read Answer Asked on February 20, 2025

• TFI International Inc. (TFII $163.96)
  • $163.96 P/E (TTM): 40.73X Cap: $13.40B
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Q: Hi, I’m interested in hearing your thoughts on TFI Re-Domiciling to the US. How does this benefit the company? As a shareholder in the company will this impact my investment? Will a withholding tax now apply? Will they continue to be listed on the TSX after this move? Is this decision possibly related to tariff threats? Can you see other Canadian companies with significant US business following this route?

Upvote 3

Read Answer Asked by Anthony on February 20, 2025

• Cadence Design Systems Inc. (CDNS $298.41)
  • $298.41 P/E (TTM): 68.92X Cap: $81.14B
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Q: As this conglomerate company has just been awarded the contract for a high speed train from Quebec City to Toronto would you feel this is a good time to buy a small % ?

Upvote 3

Read Answer Asked by Rita on February 20, 2025

• TFI International Inc. (TFII $163.96)
  • $163.96 P/E (TTM): 40.73X Cap: $13.40B
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Q: Hi 5i, thoughts on quarter, and if you have a chance to listen in on CC, was there any mention of tarrif impact.

Thx.

Upvote 6

Read Answer Asked by Christopher on February 20, 2025

Q: I just took a beating on a couple of my stocks, hudbay and paramount…..if it wasn’t for the threat of tariffs I would most likely be looking at buying the dip…..I’d like to ask you about your thoughts?? Thank you

Upvote 6

Read Answer Asked by Pat on February 19, 2025

• BCE Inc. (BCE $35.86)
  • $35.86 P/E (TTM): 5.36X Cap: $32.76B
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• Magna International Inc. (MG $85.94)
  • $85.94 P/E (TTM): 17.63X Cap: $24.76B
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Q: BCE and MG are mine losers and I want to sell one. Please advise which one would you let go or do you still think I should hold both of them and why

Thanks for the great service.

Upvote 4

Read Answer Asked by Hector on February 19, 2025