Goodfellow (GDL) AI Stock Analysis

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Goodfellow

(TSX:GDL)

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Rating:48.2Neutral

Price Target:CAD 11.00▲(0.46% Upside)

Action:reiterated

Date:10/09/26

The overall score is held down primarily by weakening margins, declining returns on equity, and negative, volatile cash flows, which significantly increase fundamental and execution risk despite moderate leverage. Secondary pressure comes from a mildly bearish technical picture, with the stock trading below key moving averages and showing soft momentum rather than clear upward trends. A reasonable valuation with a mid-teens P/E and solid dividend yield provides some support, but not enough to offset the current deterioration in financial performance.

Positive Factors

Strong Revenue GrowthA 71.8% TTM revenue increase indicates strong recent demand or volume expansion across the company’s wood-products activities. If maintained, this larger sales base can support scale, broaden customer reach, and provide a platform for rebuilding profitability despite current margin pressure.

Negative Factors

Weak Cash GenerationNegative operating and free cash flow shows that reported earnings are not currently converting into cash, increasing funding needs for working capital and investment. Continued weak conversion could reduce financial flexibility and make the company more dependent on balance-sheet resources.

Goodfellow (GDL) vs. iShares MSCI Canada ETF (EWC)

Market Cap: CAD 90.71M
Dividend Yield: 2.28%
Average Volume (3M): 2,002
Price to Earnings (P/E): 21.1
Beta (1Y): 0.39
Revenue Growth: 0.73%
EPS Growth: -30.61%
Country: Canada
Employees: 813
Sector: Basic Materials
Sector Strength: 61
Industry: Paper, Lumber & Forest Products

Goodfellow Business Overview & Revenue Model

Company Description

Goodfellow Inc., a venerable company established in Delson, Canada, in 1898, operates as a prominent wholesale distributor of an extensive array of lumber products, building materials, and diverse floor coverings. The firm primarily serves the retail...

How the Company Makes Money

Goodfellow makes money primarily by selling forest and building-related wood products and associated value-added services. Its core revenue stream is product sales through wholesale/distribution and direct-to-customer channels, where it sources wood...

Goodfellow Financial Statement Overview

Summary

Profitability remains positive with moderate leverage and solid revenue scale, but margins, returns on equity, and earnings quality have deteriorated and recent cash generation is weak and volatile, leaving the overall financial profile only modestly above the low end of the range.

Income Statement

41Neutral

Balance Sheet

64Positive

Cash Flow

29Negative

Financial statement breakdown
Breakdown	TTM	Nov 2025	Nov 2024	Nov 2023	Nov 2022	Nov 2021
Income Statement
Total Revenue	534.09M	542.98M	509.54M	512.82M	631.18M	615.95M
Gross Profit	77.74M	94.19M	121.75M	112.36M	136.06M	136.54M
EBITDA	21.66M	25.71M	29.48M	31.10M	55.63M	60.53M
Net Income	4.37M	7.14M	13.37M	14.69M	32.68M	37.84M
Balance Sheet
Total Assets	330.35M	294.92M	291.86M	252.75M	246.92M	237.59M
Cash, Cash Equivalents and Short-Term Investments	4.33M	3.77M	5.31M	28.38M	3.42M	4.25M
Total Debt	61.52M	53.15M	27.39M	13.23M	17.51M	24.43M
Total Liabilities	123.14M	87.29M	85.65M	57.75M	60.14M	76.64M
Stockholders Equity	207.21M	207.63M	206.21M	195.00M	186.78M	160.95M
Cash Flow
Free Cash Flow	-6.42M	-424.00K	-16.56M	39.13M	21.13M	31.91M
Operating Cash Flow	-1.12M	3.21M	-868.00K	42.97M	26.01M	33.28M
Investing Cash Flow	-5.44M	-4.22M	-15.67M	-3.66M	-4.85M	-1.34M
Financing Cash Flow	4.93M	4.82M	-12.44M	-14.35M	-14.75M	-33.83M

Goodfellow Technical Analysis

Technical Analysis SentimentPositive

Last Price10.95

Price Trends

50DMA11.04Negative

100DMA11.16Negative

200DMA11.47Negative

Market Momentum

MACD-0.04Negative

RSI50.76Neutral

STOCH44.57Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GDL, the sentiment is Positive. The current price of 10.95 is above the 20-day moving average (MA) of 10.90, below the 50-day MA of 11.04, and below the 200-day MA of 11.47, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 50.76 is Neutral, neither overbought nor oversold. The STOCH value of 44.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:GDL.

Goodfellow Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

TSE:GDL against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TSE:ADN	67Neutral	CAD 317.65M	6.41	13.52%	6.80%	-1.45%	220.30%
Sector *	61Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
TSE:WEF	54Neutral	CAD 163.02M	-1.93	-17.78%	―	-18.00%	-290.71%
TSE:GFP	50Neutral	CAD 31.04M	-0.29	-184.29%	―	2.28%	-237.72%
TSE:GDL	48Neutral	CAD 90.71M	21.06	2.12%	2.28%	0.73%	-30.61%
TSE:CFF	42Neutral	CAD 4.28M	-0.09	-103.21%	―	-18.46%	-102.32%

* Basic Materials Sector Average

Performance Comparison

TSE:GDL and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TSE:GDL	Goodfellow Inc.	10.95	-0.39	-3.43%
TSE:GFP	Greenfirst Forest Products Inc.	1.34	-0.92	-40.71%
TSE:ADN	Acadian Timber	17.06	3.86	29.20%
TSE:CFF	Conifex Timber	0.10	-0.13	-54.35%
TSE:WEF	Western Forest Prod	15.44	3.74	31.97%

Goodfellow Corporate Events

Business Operations and StrategyDividendsFinancial Disclosures

Goodfellow Profits Decline Despite Higher Q3 Sales as Sector Conditions Remain Mixed

Negative

Oct 6, 2026

Goodfellow Inc. reported third-quarter net earnings of $2.3 million, down from $3.7 million a year earlier, even as sales edged up to $145.7 million from $141.9 million. For the first nine months of fiscal 2026, net earnings fell to $1.2 million from...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 09, 2026

Goodfellow AI Stock Analysis