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Diversified Canadian industrial manufacturer making propane/NH3 storage tanks, processing equipment and home comfort products.
Diversified Canadian industrial manufacturer making propane/NH3 storage tanks, processing equipment and home comfort products.
In one line: A diversified niche industrial manufacturer built through acquisitions.
Moat: narrow (installed base, scale). Niche manufacturing scale and long-standing distributor relationships give an edge over smaller regional fabricators.
Headquarters: Vegreville, Canada · Founded: 1979 · Employees: 4,416
Size TerraVest Industries (TVK.TO) is a Canada Industrials company (Industrial Machinery) with a market value of $1.64B, the 199th largest of 420 Canada companies the cockpit tracks. Shares closed at C$105.89 on 6 Nov 2026.
Performance Over six months the shares fell 17.0%, against -16.4% for the median peer and +5.2% for the Canada market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 46.4% over the last twelve months (peer median +7.6%); the operating margin is 8.3% (peer median 8.1%).
Valuation It trades at 26.4× forward earnings against a peer median of 19.3× (8th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +35%, so the hurdle is -25 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.7 points below its cost of capital (6.0% WACC).
Next results Next results expected around 16 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$1.73B | C$1.37B | C$912M | C$678M | C$577M |
| Revenue growth | — | +50% | +34% | +18% | — |
| Gross profit | C$357M | C$319M | C$231M | C$156M | C$115M |
| EBITDA | C$310M | C$261M | C$189M | C$119M | C$84.3M |
| Net income | C$92.6M | C$86.7M | C$63.6M | C$42.1M | C$45.3M |
| Free cash flow | C$109M | C$44.4M | C$101M | C$46.1M | -C$5.61M |
| Capital expenditure | C$90.5M | C$68.4M | C$56.3M | C$33.5M | C$35.7M |
| Total debt | C$1.16B | C$991M | C$303M | C$269M | C$276M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| TerraVest Industries TVK.TO | $1.64B | -17% | +46% | 8% | 26.4× | 10.6% |
| Trinity Industries TRN | $2.30B | -20% | -2% | 13% | 15.8× | n/a |
| Worthington Enterprises WOR | $2.98B | +11% | +18% | 6% | 15.7× | 24.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TVK.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.5% | -7.3% | 8th highest of 21 |
| 6-month return | -17.0% | -16.4% | 11th highest of 21 |
| Distance from 52-week high | -39.6% | -46.1% | 8th highest of 21 |
| Revenue growth (TTM) | +46.4% | +7.6% | highest of 21 |
| Operating margin | 8.3% | 8.1% | 11th highest of 21 |
| Forward P/E | 26.4× | 19.3× | 8th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 10.6% | 8.6% | 6th most demanding of 16 |
| Growth delivered (Del g) | +35.1% | +10.8% | 2nd highest of 16 |
| Hurdle (Req g minus delivered) | -24.5 pp | -4.5 pp | least demanding of 16 |
| ROIC minus cost of capital | -0.7 pp | -0.9 pp | 11th highest of 21 |
| EV / EBITDA | 11.3× | 10.8× | 4th most expensive of 8 |
| Net debt / EBITDA | 3.7× | -0.7× | most indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| TerraVest Industries TVK.TO | Canada | $1.64B | -17% | +46% | 8% | 26.4× | 10.6% | +35.1% |
| Chang Wah Technology 6548.TWO | Taiwan | $1.65B | +9% | +25% | 15% | 17.5× | 9.2% | +6.8% |
| KSB SE & Co. KGaA KSB.DE | Germany | $1.63B | -3% | +2% | 7% | 10.3× | -3.2% | +6.6% |
| Shaanxi Aerospace Power Hi-Tech 600343.SS | China | $1.65B | -50% | -15% | -24% | n/a | n/a | n/a |
| Precision Tsugami (China) 1651.HK | Hong Kong | $1.62B | -35% | +24% | 28% | 7.7× | -13.9% | +9.8% |
| Beijing Worldia Diamond Tools 688028.SS | China | $1.66B | -37% | +22% | 16% | 71.0× | n/a | n/a |
| Harbin Boshi Automation 002698.SZ | China | $1.66B | -15% | -2% | 18% | 19.3× | 5.3% | +9.1% |
| Triveni Turbine TRITURBINE.NS | India | $1.66B | -14% | +18% | 17% | 42.5× | 45.8% | +25.4% |
| Psk 319660.KS | South Korea | $1.66B | -12% | +32% | 25% | 14.4× | 6.1% | +11.5% |
| Shanghai Hanbell Precise Machinery 002158.SZ | China | $1.67B | -24% | -5% | 15% | 19.3× | 16.3% | +5.2% |
| Tsubakimoto Chain 6371.T | Japan | $1.68B | +7% | +20% | 8% | 10.3× | 2.0% | +8.9% |
| Zhejiang Jiecang Linear Motion Technology 603583.SS | China | $1.60B | -4% | +5% | 8% | 26.0× | n/a | n/a |
| ATS ATS.TO | Canada | $1.68B | -49% | +7% | 6% | 15.9× | 8.7% | +15.8% |
| Hunan Yujing Machinery 002943.SZ | China | $1.60B | -42% | -36% | -23% | 37.5× | n/a | n/a |
| Volution FAN.L | United Kingdom | $1.68B | +7% | +16% | 20% | 15.7× | 13.7% | +12.2% |
| Sanhe Tongfei Refrigeration 300990.SZ | China | $1.69B | -18% | +23% | 8% | 29.9× | 31.4% | +36.2% |
| Tongyu Heavy Industry 300185.SZ | China | $1.59B | -17% | +6% | 4% | 43.7× | 6.3% | +3.1% |
| Qingdao Haier Biomedical 688139.SS | China | $1.58B | +6% | +12% | 9% | 36.5× | 20.7% | +10.8% |
| Fujian Snowman 002639.SZ | China | $1.70B | -18% | +9% | 1% | n/a | n/a | n/a |
| Tofflon Science and Technology 300171.SZ | China | $1.57B | +4% | -2% | 6% | 34.7× | 8.0% | +14.0% |
| Shanghai Highly (Group) 600619.SS | China | $1.57B | -33% | +3% | 3% | n/a | 8.6% | +13.1% |