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Information Services Corporation (TSX: ISV)

Last close As at 20/11/2024

CAD27.60

▲ 0.05 (0.18%)

Market capitalisation

CAD509m

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

Governments and financial institutions are seeking cost-saving opportunities that enable them to focus on their core business without comprising service quality. Consequently, they are reassessing their public service delivery models and pursuing innovative forms of public-private partnerships. With ISC’s expertise, technology and proven experience in managing data authentication and security, it is well positioned to expand in the global registry market and continue onboarding new customers.

Latest Insights

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Industrials | Update

Information Services Corporation — Continued momentum in earnings growth

Industrials | edison tv

Information Services Corporation – executive interview

Industrials | Update

Information Services Corporation — Cash flow fuelling ambitious growth plan

Industrials | Update

Information Services Corporation — Strong underlying growth, guidance reiterated
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Sector

Industrials

Equity Analyst

Harry Kilby

Analyst

Andy Murphy

Andy Murphy

Director, Financials & Industrials

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)

139.8

Forecast gearing ratio (%)

76

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (2.5) 1.4 36.0
Relative (3.3) (6.7) 10.0
52 week high/low C$30.0/C$20.3

Financials

Information Services Corporation (ISC) delivered another quarter of robust growth in Q324, with revenue advancing 12% y-o-y to C$60.9m and adjusted EBITDA rising 18% to C$22.7m. Net income remained relatively flat at C$4.2m (translating to C$0.23 basic and diluted EPS) as ISC’s strong operational performance was offset by increases in share-based compensation expenses, increased investment in project delivery within its Technology Solutions segment and elevated amortisation costs related to the Master Service Agreement (MSA) extension. Management reiterated its revenue (C$240–250m) and adjusted EBITDA (C$83–91m) guidance for FY24, with our estimates remaining aligned at C$242m and C$85.5m, respectively.

Y/E Dec Revenue (C$m) EBITDA (C$m) PBT (C$m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 189.9 64.4 46.5 190.78 14.5 7.7
2023A 214.5 72.9 39.2 163.30 16.9 6.8
2024E 242.0 85.5 46.5 189.16 14.6 5.8
2025E 258.1 90.4 51.7 209.98 13.1 5.5

Research

edison tv

Industrials

Information Services Corporation – executive interview

Update

Industrials

Information Services Corporation — Cash flow fuelling ambitious growth plan

Industrials

Update

Information Services Corporation — Continued momentum in earnings growth

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