Industrielles
Les entreprises industrielles comme les chemins de fer et les exploitants d'infrastructures ont tendance à avoir de larges avantages concurrentiels, un réel pouvoir de fixation des prix et des volumes cycliques liés à l'économie. Nous examinons la génération de flux de trésorerie disponible, l'efficacité d'exploitation (pour les chemins de fer, le ratio d'exploitation) et la façon dont la croissance est financée.
Analyses dans Industrielles
Canadian National Railway
Un chemin de fer à large rempart s'étendant sur trois côtes — le classique « poste de péage » de l'économie canadienne et nord-américaine.
MDA Space
A Canadian space-technology leader in robotics, satellite systems and geo-intelligence, riding the commercial space and satellite-constellation boom.
Linamar
A diversified Canadian manufacturer straddling auto-parts precision machining and industrial equipment (agriculture and access), trading at a strikingly low multiple.
Martinrea International
A tier-one automotive-parts supplier specializing in lightweight metal structures and fluid systems, trading at a rock-bottom multiple typical of the sector.
Bombardier
A Montreal-based manufacturer of business jets, now a focused pure-play in the high-margin private-aviation market.
ATS Corporation
A Cambridge, Ontario-based builder of custom factory-automation systems for regulated, high-value industries.
Aecon Group
One of Canada's largest construction and infrastructure builders, active in civil, utilities, nuclear and public-private concessions.
Bird Construction
A national Canadian general contractor spanning industrial, commercial and infrastructure construction with a record backlog.
Badger Infrastructure Solutions
North America's largest provider of non-destructive hydrovac excavation, digging safely around buried infrastructure.
NFI Group
A leading North American bus and motor-coach manufacturer riding a record backlog and the shift to zero-emission transit.
Exchange Income
A dividend-focused acquirer of aviation and manufacturing businesses serving essential, often remote-market needs.
Cargojet
Canada's dominant overnight air-cargo carrier, operating the domestic time-sensitive freight network.
Mullen Group
One of Canada's largest logistics and trucking companies, plus a specialized oilfield-services arm.
RB Global
The world's largest marketplace for commercial assets and vehicles, combining Ritchie Bros. auctions with IAA salvage.
Wajax
A Canadian distributor of heavy industrial equipment, power systems, and parts-and-service across mining, construction, and energy.
Richelieu Hardware
A specialty distributor of decorative and functional hardware to kitchen, cabinet, furniture, and renovation manufacturers across North America.
Hammond Power Solutions
A North American manufacturer of dry-type transformers and power-quality products riding surging data-center and electrification demand.
Ag Growth International
A global maker of grain handling, storage, and conditioning equipment for farms and commercial agricultural infrastructure.
Andlauer Healthcare Group
A specialized healthcare supply-chain and logistics provider handling temperature-sensitive pharmaceuticals and medical products.
SECURE Waste Infrastructure
A Canadian environmental and waste-infrastructure operator that collects, processes, recycles and disposes of by-products generated by the energy industry.
Canadian Pacific Kansas City
The only single-line railroad connecting Canada, the US and Mexico, still converting merger synergies into volume and pricing.
Waste Connections
A disciplined, secondary-market-focused solid-waste consolidator that compounds through steady price-led growth and tuck-in acquisitions.
GFL Environmental
Canada's largest homegrown waste company, now a leaner pure-play solid-waste consolidator after divesting its environmental-services arm — but conventional free cash flow is still negative.
WSP Global
One of the world's largest professional-services engineering firms, compounding through acquisitions and a high-margin, asset-light advisory model.
Stantec
A global engineering and design consultancy compounding steadily on infrastructure, water and environmental megatrends with an asset-light, high-return model.
Finning International
The world's largest Caterpillar dealer, monetizing mining, construction and power demand across Western Canada, South America and the UK/Ireland through equipment sales and a sticky product-support annuity.
Toromont Industries
A disciplined Eastern-Canada Caterpillar dealer and refrigeration specialist prized for consistent execution, strong returns on capital and a fortress balance sheet.
TFI International
A serial-acquirer trucking and logistics operator (LTL, truckload, parcel and logistics) run with an owner-operator's obsession over operating ratio and free cash flow — now working through a freight-recession trough.
CAE Inc.
The global leader in flight simulation and aviation training, with a large civil training network and a recovering defense franchise underpinned by a multi-billion-dollar backlog.