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Savaria
(TSX:SIS)
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Rating:69Neutral
Price Target:
C$31.00
▲(7.94% Upside)
Action:Downgraded
Date:09/06/26
The score is primarily supported by improving margins and a meaningfully strengthened balance sheet. It is held back by weaker technical momentum (negative MACD and price below key moving averages) and a moderate valuation (P/E ~23) with only a modest dividend yield (~2%).
Positive Factors
Improving Profitability
Stronger gross, operating, and net margins indicate improved efficiency and earnings quality. The rise in operating margin from roughly 8–9% to 13.6% provides greater resilience, supports reinvestment, and can help sustain profitability across the next several quarters.
Negative Factors
Moderating Revenue Growth
The slowdown in revenue growth reduces the pace at which Savaria can expand its earnings base. If accessibility and patient-care demand remains moderate, margin gains may have to carry more of the performance burden, limiting longer-term operating leverage and upside.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Profitability
Stronger gross, operating, and net margins indicate improved efficiency and earnings quality. The rise in operating margin from roughly 8–9% to 13.6% provides greater resilience, supports reinvestment, and can help sustain profitability across the next several quarters.
Read all positive factors
Savaria (SIS) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$2.04B
Dividend Yield2.01%
Average Volume (3M)237.52K
Price to Earnings (P/E)22.7
Beta (1Y)0.86
Revenue Growth7.23%
EPS Growth58.03%
CountryCA
Employees2,600
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)1.23
Shares Outstanding72,125,320
10 Day Avg. Volume183,498
30 Day Avg. Volume237,519
Financial Highlights & Ratios
PEG Ratio0.58
Price to Book (P/B)2.54
Price to Sales (P/S)1.78
P/FCF Ratio14.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$35.67Price Target Upside24.19% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)1.38
Revenue Forecast (FY)C$985.41M
Savaria Business Overview & Revenue Model
Company Description
Established in 1979 and headquartered in Laval, Canada, Savaria Corporation delivers a comprehensive suite of accessibility solutions tailored for the elderly and individuals with physical challenges. Its global reach extends across Canada, the Un...
How the Company Makes Money
Savaria makes money primarily by selling accessibility and patient care products and by earning service and project-related revenue associated with those products.
1) Product sales (core revenue driver):
- Accessibility equipment: Revenue is gene...
Savaria Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call highlighted strong top-line growth (+7%), significant margin expansion (adjusted EBITDA margin +190 bps to 20.4%), an 82% increase in net earnings, reduced leverage (<1.0x) and meaningful operational gains from Savaria One (estimated ~$7M EBITDA uplift in Q1). Most lowlights (FX headwinds, seasonal noise, spare-part tariff issues, working capital timing and the delayed impact of new product lines) are manageable and accompanied by mitigation plans. Given the balance of multiple positive financial and operational trends, ample liquidity for M&A, and clear targets for growth and margin sustainability, the overall tone was constructive and forward-looking.Positive Updates
Revenue Growth
Consolidated revenue of $235.5M in Q1, up $15.3M or 7% year-over-year driven by 5.7% organic growth, 0.7% from acquisitions and a 0.6% positive FX impact.
Negative Updates
Foreign Exchange Headwinds
Patient Care experienced a -2.7% negative FX impact on U.S. dollar; U.S. results were relatively flat with FX cited as a headwind that offset organic gains in some areas.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth
Consolidated revenue of $235.5M in Q1, up $15.3M or 7% year-over-year driven by 5.7% organic growth, 0.7% from acquisitions and a 0.6% positive FX impact.
Read all positive updates
Company Guidance
Management reiterated a multi-year target to grow revenues ~12% annually to about $1.6 billion by 2030 while maintaining adjusted EBITDA margins of at least 20%—which translates to roughly $320 million of EBITDA and $4.25 of EBITDA per share by 2030—and said it intends to pursue roughly $200 million of small-to-mid‑sized acquisitions over the next five years, funded in part by $324 million of available liquidity and a net debt/EBITDA ratio of 0.92x. They pointed to Q1 results as validation of the plan (Q1 revenue $235.5M, +7% YoY; organic +5.7%; adjusted EBITDA $48.1M, 20.4%; gross margin 38.9%; operating income +$11.7M YoY; net earnings $22.7M; EPS $0.31; cash from ops $35.8M), noted Q1 CapEx was $6M (2.5% of sales) and full‑year CapEx is expected to be slightly >2.5% but <3% mainly for the Greenville expansion, and said Q1 is seasonally weakest so margins and operating leverage should improve through the remainder of the year.Savaria Financial Statement Overview
Summary
Income Statement
83
Very Positive
Balance Sheet
78
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 947.87M | 913.53M | 867.76M | 836.95M | 789.09M | 660.98M |
| Gross Profit | 371.08M | 321.22M | 321.71M | 286.02M | 254.37M | 215.54M |
| EBITDA | 188.39M | 157.85M | 136.58M | 123.82M | 114.14M | 82.70M |
| Net Income | 87.86M | 68.77M | 48.51M | 37.84M | 35.31M | 11.54M |
Balance Sheet | ||||||
| Total Assets | 1.15B | 1.10B | 1.11B | 1.10B | 1.11B | 1.11B |
| Cash, Cash Equivalents and Short-Term Investments | 33.46M | 18.62M | 35.24M | 54.27M | 45.24M | 63.49M |
| Total Debt | 202.59M | 205.91M | 292.62M | 319.38M | 410.07M | 432.34M |
| Total Liabilities | 458.82M | 458.10M | 538.94M | 552.57M | 656.99M | 672.32M |
| Stockholders Equity | 688.30M | 640.83M | 575.27M | 549.00M | 452.97M | 434.60M |
Cash Flow | ||||||
| Free Cash Flow | 114.68M | 115.53M | 99.95M | 59.76M | 70.22M | 41.56M |
| Operating Cash Flow | 141.17M | 128.17M | 120.10M | 78.62M | 90.74M | 57.28M |
| Investing Cash Flow | -34.55M | -20.95M | -20.63M | -6.36M | -21.58M | -396.44M |
| Financing Cash Flow | -116.72M | -125.85M | -118.00M | -63.11M | -83.25M | 351.80M |
Savaria Technical Analysis
Neutral
28.72
Price Trends
29.59
Negative
29.16
Negative
26.63
Positive
Market Momentum
-0.52
Positive
45.62
Neutral
50.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SIS, the sentiment is Neutral. The current price of 28.72 is above the 20-day moving average (MA) of 28.59, below the 50-day MA of 29.59, and above the 200-day MA of 26.63, indicating a neutral trend. The MACD of -0.52 indicates Positive momentum. The RSI at 45.62 is Neutral, neither overbought nor oversold. The STOCH value of 50.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:SIS.
Savaria Peers Comparison
UnderperformOutperform
Sector (63)
TSE:SIS
Savaria
27.89
7.84
39.12%
TSE:REKO
Reko International
4.75
0.50
11.76%
TSE:VLN
Velan Inc. SV
18.25
2.70
17.35%
Savaria Corporate Events
Business Operations and StrategyDividends
Savaria Maintains Monthly Payout With New Dividend Declaration
Positive
Aug 21, 2026
Savaria Corporation, a global manufacturer of accessibility and medical mobility equipment including home and commercial elevators, stairlifts, wheelchair lifts, medical beds and patient-handling devices, operates via an international dealer netwo...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Savaria Posts Strong Q2 2026 Growth and Margin Gains on Accessibility Push
Positive
Aug 5, 2026
Savaria reported second-quarter 2026 revenue of $245.8 million, an 8.4% increase driven primarily by 6.6% organic growth and solid performances in its Accessibility and Patient Care segments. Gross profit rose 9.9% to $97.3 million, lifting margin...
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.