Information Services Corporation (TSX: ISV)

Currency in CAD

Last close As at 04/12/2023

CAD20.82

0.07 (0.34%)

Market capitalisation

CAD374m

Information Services Corporation, headquartered in Canada, is a leading provider of registry and information management services for public data and records.

Latest Insights

Sector

Industrials

Equity Analyst

Key Management

  • Jonathan Hackshaw

    Senior Director, Investor Relations & Capital

  • Mitch Lipon

    IRO

  • Robert (Bob) Antochow

    CFO

  • Shawn B Peters

    CEO

Balance Sheet

Forecast net debt (C$m)

148.6

Forecast gearing ratio (%)

88

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 4.9 (14.9) (10.6)
Relative (2.3) (14.2) (9.8)
52 week high/low C$27.0/C$19.5

Financials

Despite prevailing macroeconomic headwinds and a subdued Canadian property market, Information Services Corporation (ISC) demonstrated year-on-year top-line and adjusted EBITDA growth in Q323. This was largely attributable to the MSA extension, augmented by sustained organic growth of the Services division. Net income was affected by heightened net finance costs, as a result of a rise in net debt from the C$150m upfront payment for the MSA extension. Nevertheless, ISC remains on a trajectory of securing new contracts and management reaffirms its FY23 revenue and adjusted EBITDA guidance. We maintain our forecasts and valuation of C$37, implying 79% upside.

Y/E Dec Revenue (C$m) EBITDA (C$m) PBT (C$m) EPS (fd) (c) P/E (x) P/CF (x)
2021A 169.4 67.8 51.4 218.40 9.5 5.5
2022A 189.9 64.4 46.5 190.78 10.9 5.8
2023E 210.1 75.0 45.8 188.89 11.0 5.0
2024E 230.2 89.8 50.9 208.52 10.0 4.2

Research

Concept of energy storage unit consisting of multiple conected containers with batteries. 3d rednering.

thematic

Industrials

Battery energy storage

thematic

Consumer

IPO apocalypse

thematic

TMT

ESG, moving beyond the box tick

thematic

Industrials

A new paradigm for space

thematic

Industrials

The emergence of mega-constellations

thematic

Industrials

Internet in the sky

thematic

Industrials

Truth creates light

thematic

Industrials

All-seeing eye in the sky

thematic

Consumer

Circular economy business models

thematic

Industrials

BayWa – Focus on sustainability

thematic

Industrials

Investment themes: IPO boom in London

thematic

Industrials

The circular economy

thematic

Industrials

EV outlook #1 – Growth, policy and net zero

thematic

Industrials

Water – The real liquidity crisis

thematic

Industrials

Greece – Changing the narrative

thematic

Consumer

Illuminator: August Update

thematic

Industrials

Renewables rising – Sector primer

thematic

Consumer

Deutsche Börse Eigenkapitalforum 2014 Research Guide

thematic

Industrials

German Mittelstand Conference

thematic

Industrials

German industrials spotlight: Sand in the gears

thematic

Industrials

German industrials spotlight: Industrial machinery

thematic

Industrials

German industrials: Global ambitions

thematic

Industrials

DSEi: Feedback and thoughts