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Last update at 2024-12-19T17:34:00Z
Pason to Release 2023 Fourth Quarter Results on February 28, 2024
Thu 11 Jan 24, 10:35 PMPason Completes Purchase of Outstanding Shares of Intelligent Wellhead Systems Inc.
Tue 02 Jan 24, 01:30 PMThose who invested in Pason Systems (TSE:PSI) three years ago are up 123%
Mon 01 Jan 24, 12:12 PMPason Systems Inc. Announces Renewal of Normal Course Issuer Bid
Mon 18 Dec 23, 01:30 PMPason Systems (TSE:PSI) Is Due To Pay A Dividend Of CA$0.12
Wed 13 Dec 23, 10:23 AMHere's What We Like About Pason Systems' (TSE:PSI) Upcoming Dividend
Sun 10 Dec 23, 12:03 PMNew Forecasts: Here's What Analysts Think The Future Holds For Pason Systems Inc. (TSE:PSI)
Fri 08 Dec 23, 07:30 PMPason Announces Intent to Purchase Outstanding Shares of Intelligent Wellhead Systems, Inc.
Tue 05 Dec 23, 10:30 PMPason Systems Inc. (TSE:PSI) Shares Could Be 50% Below Their Intrinsic Value Estimate
Sat 02 Dec 23, 12:04 PMPason Systems (TSE:PSI) Has Announced A Dividend Of CA$0.12
Thu 09 Nov 23, 10:02 AM| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | 139.13M | 43.66M | 10.00M | 74.00M | 92.10M |
| Minority interest | 1.89M | 1.92M | -1.77900M | -0.37100M | -0.37100M |
| Net income | 107.62M | 33.84M | 5.13M | 54.11M | 62.94M |
| Selling general administrative | 15.23M | 24.70M | 16.11M | 26.49M | 28.22M |
| Selling and marketing expenses | - | - | - | - | - |
| Gross profit | 191.72M | 93.33M | 44.40M | 134.82M | 154.03M |
| Reconciled depreciation | 20.84M | 25.69M | 34.42M | 40.83M | 34.85M |
| Ebit | 115.89M | 42.99M | 18.83M | 76.77M | 92.10M |
| Ebitda | 136.73M | 68.68M | 53.25M | 117.60M | 126.96M |
| Depreciation and amortization | 20.84M | 25.69M | 34.42M | 40.83M | 34.85M |
| Non operating income net other | - | - | - | - | - |
| Operating income | 115.89M | 42.99M | 18.83M | 76.77M | 98.82M |
| Other operating expenses | 211.27M | 162.07M | 145.38M | 217.75M | 207.57M |
| Interest expense | 4.94M | 1.53M | 0.35M | 0.58M | 0.00000M |
| Tax provision | 33.41M | 11.74M | 4.86M | 20.19M | 29.16M |
| Interest income | 12.49M | 1.00M | 1.22M | 1.21M | 7.68M |
| Net interest income | 4.94M | -1.52600M | 0.87M | 0.90M | - |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | 33.41M | 11.74M | 4.86M | 20.19M | 29.16M |
| Total revenue | 335.00M | 206.69M | 156.64M | 295.64M | 306.39M |
| Total operating expenses | 68.00M | 48.71M | 33.15M | 56.93M | 55.22M |
| Cost of revenue | 143.28M | 113.36M | 112.23M | 160.82M | 152.36M |
| Total other income expense net | 23.24M | 0.67M | -8.83100M | -2.77700M | -6.71700M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 105.73M | 31.93M | 5.13M | 53.80M | 62.94M |
| Net income applicable to common shares | 107.62M | 33.84M | 6.57M | 54.11M | 62.94M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 487.88M | 469.93M | 379.94M | 361.42M | 437.84M |
| Intangible assets | 5.85M | 6.29M | 8.45M | 12.19M | 17.50M |
| Earning assets | - | - | - | - | - |
| Other current assets | 11.59M | 10.92M | 5.20M | 15.30M | 15.30M |
| Total liab | 86.92M | 88.97M | 72.16M | 56.13M | 91.39M |
| Total stockholder equity | 408.06M | 386.48M | 311.48M | 307.06M | 346.82M |
| Deferred long term liab | - | 4.02M | 4.55M | 5.83M | 8.83M |
| Other current liab | 6.17M | 48.34M | 32.08M | 23.88M | 46.45M |
| Common stock | 163.29M | 164.14M | 162.57M | 164.57M | 166.70M |
| Capital stock | 163.29M | 164.14M | 162.57M | 164.57M | 166.70M |
| Retained earnings | 172.88M | 137.92M | 72.60M | 63.61M | 99.81M |
| Other liab | - | 14.38M | 24.14M | 22.46M | 21.59M |
| Good will | 32.69M | 33.32M | 32.62M | 32.72M | 33.51M |
| Other assets | - | 4.02M | 4.55M | 5.83M | 8.83M |
| Cash | 171.77M | 132.06M | 158.28M | 149.28M | 161.02M |
| Cash and equivalents | - | 54.49M | 37.57M | 108.16M | 104.48M |
| Total current liabilities | 55.32M | 70.88M | 42.48M | 29.43M | 58.27M |
| Current deferred revenue | 33.75M | - | - | 13.88M | 31.45M |
| Net debt | -158.78200M | -126.52800M | -150.95400M | -143.11300M | -146.20900M |
| Short term debt | 1.15M | 1.82M | 1.79M | 1.93M | 3.27M |
| Short long term debt | - | - | - | - | - |
| Short long term debt total | 12.99M | 5.53M | 7.33M | 6.17M | 14.81M |
| Other stockholder equity | 37.10M | 35.31M | 34.38M | 33.17M | 30.86M |
| Property plant equipment | - | 97.69M | 82.27M | 94.99M | 118.52M |
| Total current assets | 267.88M | 284.78M | 226.56M | 196.79M | 242.04M |
| Long term investments | 60.33M | 47.84M | 30.05M | 24.72M | 26.27M |
| Net tangible assets | - | 350.88M | 274.96M | 267.98M | 304.64M |
| Short term investments | 0.00000M | 40.38M | - | - | - |
| Net receivables | 66.66M | 85.78M | 63.09M | 44.54M | 77.40M |
| Long term debt | - | - | - | - | - |
| Inventory | 17.87M | 15.64M | - | - | - |
| Accounts payable | 14.25M | 20.72M | 8.61M | 3.62M | 8.55M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | 34.79M | 49.11M | 41.92M | 45.72M | 49.45M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | - | 164.57M | 166.70M |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | - | - | - | - |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 4.34M | - | - | - | 195.80M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 220.00M | 185.15M | 153.38M | 164.62M | 195.80M |
| Capital lease obligations | 12.99M | 5.53M | 7.33M | 6.17M | 14.81M |
| Long term debt total | - | 3.71M | 5.54M | 4.24M | 11.53M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -92.23300M | -17.12700M | -12.27900M | -56.25300M | -21.84500M |
| Change to liabilities | 11.73M | 11.22M | -15.09800M | -8.54000M | 4.37M |
| Total cashflows from investing activities | -92.23300M | -27.07700M | -12.27900M | -56.25300M | -21.84500M |
| Net borrowings | -1.82500M | -2.19300M | -2.29900M | -2.34200M | -2.34200M |
| Total cash from financing activities | -42.06500M | -27.04600M | -52.19700M | -86.11600M | -49.69400M |
| Change to operating activities | -4.87900M | -0.91000M | 1.00M | -0.53300M | 0.78M |
| Net income | 105.73M | 31.93M | 5.13M | 53.80M | 62.94M |
| Change in cash | -26.22600M | 9.00M | -11.73400M | -42.82200M | 49.71M |
| Begin period cash flow | 158.28M | 149.28M | 161.02M | 203.84M | 154.13M |
| End period cash flow | 132.06M | 158.28M | 149.28M | 161.02M | 203.84M |
| Total cash from operating activities | 104.41M | 65.06M | 58.58M | 108.55M | 107.18M |
| Issuance of capital stock | - | 0.15M | 0.00000M | 3.37M | 11.01M |
| Depreciation | 20.84M | 25.69M | 34.42M | 40.83M | 34.85M |
| Other cashflows from investing activities | -57.73000M | -0.84500M | -6.00400M | -11.46200M | -3.78700M |
| Dividends paid | 29.47M | 16.57M | 40.42M | 63.10M | 59.78M |
| Change to inventory | -10.92200M | -10.92200M | -10.92200M | -10.92200M | - |
| Change to account receivables | -35.36600M | -22.65600M | 34.28M | 14.09M | -24.52300M |
| Sale purchase of stock | -13.78600M | -8.43200M | -9.47800M | -24.04000M | -0.92100M |
| Other cashflows from financing activities | 3.02M | -27.07700M | -12.27900M | -56.25300M | -21.84500M |
| Change to netincome | -25.71500M | 1.62M | -6.96400M | 1.55M | 15.94M |
| Capital expenditures | 34.50M | 10.92M | 5.16M | 24.18M | 23.88M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | - | - | - | - |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | - | - |
| Change in working capital | 1.67M | 4.34M | 25.31M | 14.19M | -5.31800M |
| Stock based compensation | 15.23M | 11.52M | 4.84M | 10.84M | 12.31M |
| Other non cash items | -39.95100M | -6.28300M | -10.64900M | -13.30100M | -7.41300M |
| Free cash flow | 69.91M | 54.14M | 53.42M | 84.37M | 83.30M |
Sector: Energy Industry: Oil & Gas Equipment & Services
| Company | Change (CAD) | Price (CAD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| PSI Pason Systems Inc. |
-0.28 2.09% | 13.11 | 10.58 | 12.22 | 2.99 | 2.49 | 2.85 | 7.70 |
| TVK Terravest Capital Inc |
3.26 2.86% | 117.29 | 32.79 | 27.10 | 2.58 | 6.17 | 2.87 | 13.46 |
| CEU CES Energy Solutions Corp |
0.10 1.12% | 9.45 | 11.07 | 10.94 | 0.90 | 2.79 | 1.09 | 7.24 |
| EFX Enerflex Ltd. |
0.09 0.66% | 13.73 | - | 12.29 | 0.53 | 0.88 | 0.71 | 6.75 |
| MATR Shawcor Ltd. |
- -% | 12.73 | 32.06 | 14.24 | 1.11 | 1.39 | 1.20 | 10.49 |
Pason Systems Inc., together with its subsidiaries, provides instrumentation and data management systems for drilling rigs in Canada, the United States, and internationally. The company provides Electronic Drilling Recorder, which provides real-time drilling data to rig site personnel; DataHub with Pason Live, which is used as the central repository for data and reports captured at the rigs for real-time; and DataLink that provides automated in-house databases, third-party analytics platforms, remote geosteering, and other remote services. It offers AutoDriller to maximize the rate of penetration and bit life; internet solutions, such as auto-aiming satellite dishes, data modems, and bandwidth management software; DAS, a rotary drilling automation and optimization software; Electronic Choke Actuator that controls the choke valve; Gas Analyzer that provides real-time compositional gas analysis; Hazardous Gas Alarm System that detects the presence of hazardous gases; Pit Volume Totalizer, which monitors mud volumes and flow rates during drilling, tripping, and casing operations; and Toolface Control, a directional automation software. In addition, the company provides phone, chat, field, and drilling optimization support, as well as proactive monitoring and office support for data integration. It serves drilling contractors and other oilfield service companies. Pason Systems Inc. was founded in 1978 and is headquartered in Calgary, Canada.
6130 Third Street SE, Calgary, AB, Canada, T2H 1K4
| Name | Title | Year Born |
|---|---|---|
| Mr. Jon Faber C.F.A., CPA, CBV, CFA | Pres, CEO & Non-Independent Director | 1979 |
| Ms. Celine Boston | Chief Financial Officer | NA |
| Mr. Bryce McLean | VP of Operations | NA |
| Mr. Lars Olesen | VP of Product & Technology | NA |
| Ms. Natalie Fenez | VP of Legal & Corp. Sec. | NA |
| Ms. Heather Hantos | VP of HR | NA |
| Mr. Timur Kuru | Pres & GM of United States | 1975 |
| Mr. Reid Cameron Wuntke | Pres of Energy Toolbase Software, Inc. | NA |
| Mr. Ben Thomas | Director of Support Services - United States Bus. Unit | NA |
| Mr. Jon Faber C.F.A., CPA, CBV | President, CEO & Non-Independent Director | 1979 |
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