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 $11.79)
- $11.79 P/E (TTM): 15.1X Cap: $919M
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CES Energy Solutions Corp. (CEU $12.18)
- $12.18 P/E (TTM): 15.62X Cap: $2.59B
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Ensign Energy Services Inc. (ESI $2.68)
- $2.68 Cap: $491M
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Precision Drilling Corporation (PD $99.20)
- $99.20 P/E (TTM): 25.97X Cap: $1.31B
- View PD Profile
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Secure Waste Infrastructure Corp. (SES $16.84)
- $16.84 P/E (TTM): 38.27X Cap: $3.67B
- View SES Profile
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Calfrac Well Services Ltd. (CFW $4.16)
- $4.16 P/E (TTM): 18.09X Cap: $357M
- View CFW Profile
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Trican Well Service Ltd. (TCW $5.94)
- $5.94 P/E (TTM): 10.42X Cap: $1.26B
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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 $18.30)
- $18.30 P/E (TTM): 11.58X Cap: $1.76B
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Pason Systems Inc. (PSI $11.79)
- $11.79 P/E (TTM): 15.1X Cap: $919M
- View PSI Profile
- View Questions on PSI
- View Reports on PSI
ATS Corporation (ATS $40.03)
- $40.03 Cap: $3.92B
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Nutrien Ltd. (NTR $83.28)
- $83.28 P/E (TTM): 48.83X Cap: $40.25B
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kneat.com inc. (KSI $5.08)
- $5.08 Cap: $484M
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ADF Group Inc. Subordinate Voting Shares (DRX $9.19)
- $9.19 P/E (TTM): 9.19X Cap: $262M
- View DRX Profile
- View Questions on DRX
Luca Mining Corp. (LUCA $1.44)
- $1.44 Cap: $387M
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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 $33.02)
- $33.02 P/E (TTM): 4.96X Cap: $30.79B
- View BCE Profile
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Pason Systems Inc. (PSI $11.79)
- $11.79 P/E (TTM): 15.1X Cap: $919M
- View PSI Profile
- View Questions on PSI
- View Reports on PSI
TMX Group Limited (X $50.58)
- $50.58 P/E (TTM): 30.65X Cap: $14.06B
- View X Profile
- View Questions on X
- View Reports on X
goeasy Ltd. (GSY $138.72)
- $138.72 P/E (TTM): 10.1X Cap: $2.22B
- View GSY Profile
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- View Reports on GSY
Trisura Group Ltd. (TSU $45.54)
- $45.54 P/E (TTM): 17.86X Cap: $2.16B
- View TSU Profile
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- View Reports on TSU

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