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 $12.07)
- $12.07 P/E (TTM): 15.45X Cap: $941M
- View PSI Profile
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CES Energy Solutions Corp. (CEU $14.20)
- $14.20 P/E (TTM): 18.21X Cap: $3.01B
- View CEU Profile
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Ensign Energy Services Inc. (ESI $3.15)
- $3.15 Cap: $578M
- View ESI Profile
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Precision Drilling Corporation (PD $108.60)
- $108.60 P/E (TTM): 28.43X Cap: $1.44B
- View PD Profile
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Secure Waste Infrastructure Corp. (SES $17.57)
- $17.57 P/E (TTM): 39.04X Cap: $3.83B
- View SES Profile
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Calfrac Well Services Ltd. (CFW $4.99)
- $4.99 P/E (TTM): 21.7X Cap: $428M
- View CFW Profile
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Trican Well Service Ltd. (TCW $6.99)
- $6.99 P/E (TTM): 12.26X Cap: $1.48B
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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 $20.20)
- $20.20 P/E (TTM): 12.73X Cap: $1.94B
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Pason Systems Inc. (PSI $12.07)
- $12.07 P/E (TTM): 15.45X Cap: $941M
- View PSI Profile
- View Questions on PSI
- View Reports on PSI
ATS Corporation (ATS $38.70)
- $38.70 Cap: $3.79B
- View ATS Profile
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- View Reports on ATS
Nutrien Ltd. (NTR $93.75)
- $93.75 P/E (TTM): 54.78X Cap: $45.31B
- View NTR Profile
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kneat.com inc. (KSI $4.50)
- $4.50 Cap: $429M
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ADF Group Inc. Subordinate Voting Shares (DRX $8.84)
- $8.84 P/E (TTM): 8.84X Cap: $252M
- View DRX Profile
- View Questions on DRX
Luca Mining Corp. (LUCA $1.84)
- $1.84 Cap: $494M
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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 $35.20)
- $35.20 P/E (TTM): 5.29X Cap: $32.82B
- View BCE Profile
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Pason Systems Inc. (PSI $12.07)
- $12.07 P/E (TTM): 15.45X Cap: $941M
- View PSI Profile
- View Questions on PSI
- View Reports on PSI
TMX Group Limited (X $50.27)
- $50.27 P/E (TTM): 30.47X Cap: $13.98B
- View X Profile
- View Questions on X
- View Reports on X
goeasy Ltd. (GSY $125.12)
- $125.12 P/E (TTM): 9.11X Cap: $2B
- View GSY Profile
- View Questions on GSY
- View Reports on GSY
Trisura Group Ltd. (TSU $41.53)
- $41.53 P/E (TTM): 16.29X Cap: $1.97B
- 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