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 $12.73)
- $12.73 P/E (TTM): 15.94X Cap: $993M
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CES Energy Solutions Corp. (CEU $15.23)
- $15.23 P/E (TTM): 18.74X Cap: $3.23B
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Ensign Energy Services Inc. (ESI $3.30)
- $3.30 Cap: $605M
- View ESI Profile
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Precision Drilling Corporation (PD $118.86)
- $118.86 P/E (TTM): 29.79X Cap: $1.51B
- View PD Profile
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Secure Waste Infrastructure Corp. (SES $18.33)
- $18.33 P/E (TTM): 39.8X Cap: $3.90B
- View SES Profile
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Calfrac Well Services Ltd. (CFW $5.21)
- $5.21 P/E (TTM): 22.3X Cap: $447M
- View CFW Profile
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Trican Well Service Ltd. (TCW $7.24)
- $7.24 P/E (TTM): 12.58X Cap: $1.53B
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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 $20.89)
- $20.89 P/E (TTM): 12.65X Cap: $2.01B
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Pason Systems Inc. (PSI $12.73)
- $12.73 P/E (TTM): 15.94X Cap: $993M
- View PSI Profile
- View Questions on PSI
- View Reports on PSI
ATS Corporation (ATS $40.79)
- $40.79 Cap: $3.93B
- View ATS Profile
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Nutrien Ltd. (NTR $93.69)
- $93.69 P/E (TTM): 54.43X Cap: $45.28B
- View NTR Profile
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kneat.com inc. (KSI $4.21)
- $4.21 Cap: $401M
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ADF Group Inc. Subordinate Voting Shares (DRX $9.53)
- $9.53 P/E (TTM): 9.04X Cap: $272M
- View DRX Profile
- View Questions on DRX
Luca Mining Corp. (LUCA $1.96)
- $1.96 Cap: $526M
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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 $34.25)
- $34.25 P/E (TTM): 5.26X Cap: $31.93B
- View BCE Profile
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Pason Systems Inc. (PSI $12.73)
- $12.73 P/E (TTM): 15.94X Cap: $993M
- View PSI Profile
- View Questions on PSI
- View Reports on PSI
TMX Group Limited (X $45.42)
- $45.42 P/E (TTM): 27.97X Cap: $12.63B
- View X Profile
- View Questions on X
- View Reports on X
goeasy Ltd. (GSY $131.36)
- $131.36 P/E (TTM): 9.34X Cap: $2.06B
- View GSY Profile
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- View Reports on GSY
Trisura Group Ltd. (TSU $43.93)
- $43.93 P/E (TTM): 17.17X Cap: $2.08B
- 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