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Zedcor Energy Inc
(ZDC)
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Rating:48Neutral
Price Target:
C$5.00
â–²(2.67% Upside)
Action:Reiterated
Date:08/26/26
The score is primarily constrained by weak cash conversion (deeply negative free cash flow) and a recent shift to slight net losses despite solid revenue growth and strong gross profitability. Technicals are also soft with the stock trading below major moving averages and negative MACD. Improved leverage and a positive corporate update on scaling/retention provide partial support but are not enough to offset near-term profitability and cash flow pressure.
Positive Factors
Revenue growth and gross margin
Strong revenue expansion combined with a high gross margin indicates sustained customer demand and meaningful gross-profit generation. This provides a foundation for operating leverage if Zedcor can control costs and improve utilization across its expanding infrastructure base.
Negative Factors
Deeply negative free cash flow
Persistent negative free cash flow indicates that capital spending or reinvestment substantially exceeds operating cash generation. This can constrain financial flexibility, increase funding needs and delay the point at which revenue growth translates into internally generated cash.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and gross margin
Strong revenue expansion combined with a high gross margin indicates sustained customer demand and meaningful gross-profit generation. This provides a foundation for operating leverage if Zedcor can control costs and improve utilization across its expanding infrastructure base.
Read all positive factors
Zedcor Energy Inc (ZDC) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$571.84M
Dividend Yield21.33%
Average Volume (3M)168.21K
Price to Earnings (P/E)―
Beta (1Y)0.79
Revenue Growth70.81%
EPS Growth-143.82%
CountryCA
Employees240
SectorGeneral
Sector StrengthN/A
IndustrySecurity & Protection Services
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding112,789,400
10 Day Avg. Volume192,777
30 Day Avg. Volume168,213
Financial Highlights & Ratios
PEG Ratio6.10
Price to Book (P/B)10.64
Price to Sales (P/S)11.11
P/FCF Ratio-13.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$8.50Price Target Upside74.54% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)C$97.00M
Zedcor Energy Inc Business Overview & Revenue Model
Company Description
Zedcor Inc. provides turnkey and customized mobile surveillance and live monitoring solutions in Canada and the United States. The company engages in the provision of rental, maintenance, remote video monitoring data streaming and any related soft...
How the Company Makes Money
Zedcor primarily makes money by deploying its mobile infrastructure and related equipment to customers on a rental/service basis. Revenue is generated from (1) renting mobile camps and associated modules/equipment to operators and contractors for ...
Zedcor Energy Inc Earnings Call Summary
Earnings Call Date:Nov 14, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Nov 18, 2026
Earnings Call Sentiment Positive
The earnings call highlighted significant revenue and growth achievements, strong adjusted EBITDA, and successful market expansion, particularly in the U.S. Key strategic hires and operational efficiencies further contribute to a positive outlook. However, challenges remain in terms of SG&A expenses, production capacity, and pricing discrepancies.Positive Updates
Record Revenue and Growth
Record revenues of $9.2 million for Q3 2024, exceeding the previous high by $1.8 million and increasing 42% year-over-year.
Negative Updates
SG&A Expenses
SG&A expected to increase slightly, driven by stock compensation and back-office functions.
Read all updates
Q3-2024 Updates
Positive
Negative
Record Revenue and Growth
Record revenues of $9.2 million for Q3 2024, exceeding the previous high by $1.8 million and increasing 42% year-over-year.
Read all positive updates
Company Guidance
During the recent earnings call for Zedcor Inc., the company reported record revenues of $9.2 million for Q3 2024, marking a 42% increase year-over-year and surpassing the previous quarter by $1.8 million. The adjusted EBITDA also reached a record high of $3.4 million, representing a 49% increase year-over-year, with EBITDA margins exceeding 37%. The company highlighted that recurring revenue accounted for over 80% of total revenue, and fleet utilization remained above 90%. The fleet expanded with the addition of 148 security towers, bringing the total to 1,296, with 25% of the fleet stationed in the U.S. The company noted that the tower production count grew by approximately 10% during the quarter. Additionally, Zedcor anticipates strong results for Q4 2024 as it continues to expand in the retail and residential construction segments, supported by ongoing negotiations to expand its credit facilities. Cash flow from operations was robust, with adjusted operating cash flow increasing by 54% year-over-year to $3.1 million.Zedcor Energy Inc Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
66
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 76.01M | 58.91M | 32.99M | 24.89M | 22.10M | 13.55M |
| Gross Profit | 41.94M | 33.25M | 19.34M | 12.39M | 10.77M | 6.17M |
| EBITDA | 20.01M | 17.14M | 10.69M | 9.05M | 8.41M | 3.83M |
| Net Income | -935.00K | 2.72M | 1.63M | 2.65M | 6.00M | -3.90M |
Balance Sheet | ||||||
| Total Assets | 185.46M | 134.38M | 67.45M | 42.97M | 32.58M | 19.80M |
| Cash, Cash Equivalents and Short-Term Investments | 3.00M | 2.66M | 5.76M | 1.47M | 571.00K | 108.00K |
| Total Debt | 67.99M | 57.16M | 28.33M | 27.61M | 20.68M | 17.02M |
| Total Liabilities | 89.60M | 72.81M | 35.46M | 30.86M | 24.09M | 19.40M |
| Stockholders Equity | 95.86M | 61.57M | 31.99M | 12.12M | 8.49M | 398.00K |
Cash Flow | ||||||
| Free Cash Flow | -65.62M | -48.54M | -10.37M | -3.58M | -2.80M | -1.22M |
| Operating Cash Flow | 22.19M | 16.98M | 11.02M | 9.89M | 6.19M | 4.54M |
| Investing Cash Flow | -80.57M | -60.90M | -20.53M | -13.45M | -8.61M | 6.58M |
| Financing Cash Flow | 54.99M | 40.81M | 13.80M | 4.47M | 2.88M | -11.77M |
Zedcor Energy Inc Technical Analysis
Neutral
4.87
Price Trends
5.14
Negative
5.52
Negative
5.61
Negative
Market Momentum
-0.07
Negative
51.21
Neutral
55.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ZDC, the sentiment is Neutral. The current price of 4.87 is below the 20-day moving average (MA) of 5.03, below the 50-day MA of 5.14, and below the 200-day MA of 5.61, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 51.21 is Neutral, neither overbought nor oversold. The STOCH value of 55.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:ZDC.
Zedcor Energy Inc Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | C$1.20B | 13.59 | 14.51% | 1.34% | 21.71% | 40.07% | |
71 Outperform | C$707.61M | 11.40 | 8.75% | 9.98% | -14.91% | 442.58% | |
67 Neutral | C$269.48M | -116.13 | -0.66% | 6.67% | 25.52% | -126.16% | |
57 Neutral | C$496.29M | 16.11 | 7.40% | 2.60% | 7.11% | -9.71% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | C$689.39M | -17.12 | -3.11% | 133.33% | -1.48% | -6.74% | |
48 Neutral | C$571.84M | -641.77 | -1.21% | 21.33% | 70.81% | -143.82% |
* General Sector Average
TSE:ZDC
Zedcor Energy Inc
5.07
0.96
23.36%
TSE:NOA
North American Construction Group
18.44
0.33
1.80%
TSE:CFW
Calfrac Well Services
7.01
3.75
114.83%
TSE:ESI
Ensign Energy Services
3.74
1.58
73.15%
TSE:PRQ
Petrus Resources
1.80
0.42
30.15%
TSE:TOT
Total Energy Services
32.88
19.97
154.69%
Zedcor Energy Inc Corporate Events
Business Operations and StrategyExecutive/Board Changes
Zedcor Grants RSUs as It Scales North American Security Operations
Positive
Aug 24, 2026
Zedcor Inc. has granted 280,000 Restricted Share Units to employees and a director under its fixed 10% RSU/DSU plan, with the awards set to expire three years from the grant date and vest in equal tranches on each of the first three anniversaries....
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.