Zedcor Energy Inc (TSE:ZDC)
:ZDC
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Zedcor Energy Inc
(ZDC)
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Rating:52Neutral
Price Target:
C$6.50
▲(13.04% Upside)
Action:ReiteratedDate:04/09/26
The score is primarily supported by strong revenue growth and improved profitability/equity position, but is meaningfully weighed down by deeply negative 2025 free cash flow and elevated valuation (very high P/E). Technical indicators are broadly neutral and do not add clear support.
Positive Factors
Strong multi-year revenue growth
Sustained revenue expansion over multiple years indicates durable demand for Zedcor's rental and field services. For a rental-based business, higher revenue reflects stronger utilization and contract volume, supporting predictable recurring cash inflows and scalability of operations over the medium term.
Negative Factors
Deeply negative free cash flow
Persistent negative free cash flow, and a sharp deterioration in 2025, suggests capital spending or working-capital needs outstrip cash from operations. Over 2–6 months this raises funding risk, may necessitate external financing, and can constrain the company's ability to invest or repay obligations without diluting stakeholders.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong multi-year revenue growth
Sustained revenue expansion over multiple years indicates durable demand for Zedcor's rental and field services. For a rental-based business, higher revenue reflects stronger utilization and contract volume, supporting predictable recurring cash inflows and scalability of operations over the medium term.
Read all positive factors
Zedcor Energy Inc (ZDC) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$717.70M
Dividend YieldN/A
Average Volume (3M)472.99K
Price to Earnings (P/E)110.8
Beta (1Y)0.59
Revenue Growth78.57%
EPS Growth45.25%
CountryCA
Employees130
SectorGeneral
Sector StrengthN/A
IndustrySecurity & Protection Services
Share Statistics
EPS (TTM)0.01
Shares Outstanding110,927,730
10 Day Avg. Volume763,235
30 Day Avg. Volume472,993
Financial Highlights & Ratios
PEG Ratio6.09
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 Upside47.83% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.04
Revenue Forecast (FY)C$105.93M
Zedcor Energy Inc Business Overview & Revenue Model
Company Description
Zedcor Inc. provides technology-based security and surveillance services in Western and Central Canada. The company engages in the provision of rental, service, and remote monitoring of its proprietary MobileyeZ security towers; live and verified ...
How the Company Makes Money
Zedcor primarily makes money by renting equipment and modular assets to industrial customers (typically on daily, weekly, or monthly rental terms), generating recurring revenue over the rental period. A second revenue stream comes from services ti...
Zedcor Energy Inc Earnings Call Summary
Earnings Call Date:Nov 14, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:May 21, 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
72
Positive
Balance Sheet
68
Positive
Cash Flow
45
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 58.91M | 32.99M | 24.89M | 22.10M | 13.55M |
| Gross Profit | 33.25M | 19.34M | 12.39M | 10.77M | 6.17M |
| EBITDA | 17.14M | 10.69M | 9.05M | 8.41M | 3.83M |
| Net Income | 2.72M | 1.63M | 2.65M | 6.00M | -3.90M |
Balance Sheet | |||||
| Total Assets | 134.38M | 67.45M | 42.97M | 32.58M | 19.80M |
| Cash, Cash Equivalents and Short-Term Investments | 2.66M | 5.76M | 1.47M | 571.00K | 108.00K |
| Total Debt | 57.16M | 28.33M | 27.61M | 20.68M | 17.02M |
| Total Liabilities | 72.81M | 35.46M | 30.86M | 24.09M | 19.40M |
| Stockholders Equity | 61.57M | 31.99M | 12.12M | 8.49M | 398.00K |
Cash Flow | |||||
| Free Cash Flow | -48.54M | -10.37M | -3.58M | -2.80M | -1.22M |
| Operating Cash Flow | 16.98M | 11.02M | 9.89M | 6.19M | 4.54M |
| Investing Cash Flow | -60.90M | -20.53M | -13.45M | -8.61M | 6.58M |
| Financing Cash Flow | 40.81M | 13.80M | 4.47M | 2.88M | -11.77M |
Zedcor Energy Inc Technical Analysis
Positive
5.75
Price Trends
5.54
Positive
5.70
Positive
5.34
Positive
Market Momentum
0.08
Negative
59.93
Neutral
91.25
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ZDC, the sentiment is Positive. The current price of 5.75 is above the 20-day moving average (MA) of 5.22, above the 50-day MA of 5.54, and above the 200-day MA of 5.34, indicating a bullish trend. The MACD of 0.08 indicates Negative momentum. The RSI at 59.93 is Neutral, neither overbought nor oversold. The STOCH value of 91.25 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
82 Outperform | C$885.43M | 7.49 | 12.57% | 2.57% | 17.42% | 28.08% | |
71 Outperform | C$540.31M | 12.37 | 4.57% | ― | -11.45% | 184.51% | |
62 Neutral | C$302.23M | 22.63 | 3.44% | 6.19% | -2.20% | ― | |
56 Neutral | C$727.76M | -12.07 | -2.94% | ― | -2.69% | -87.05% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | C$570.92M | 16.74 | 7.88% | 2.56% | 10.17% | -29.09% | |
52 Neutral | C$717.70M | 110.78 | 4.64% | ― | 78.57% | 45.25% |
* General Sector Average
TSE:ZDC
Zedcor Energy Inc
6.47
3.46
114.95%
TSE:NOA
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TSE:TOT
Total Energy Services
24.30
15.55
177.68%
Zedcor Energy Inc Corporate Events
Business Operations and Strategy
Zedcor Grants 3.25 Million RSUs to Support North American Growth
Positive
Apr 13, 2026
Zedcor Inc. has granted 3,247,500 Restricted Share Units to employees, directors and officers under its fixed 10% RSU/DSU plan, with the awards vesting in three equal annual instalments and expiring three years from the grant date. The move broade...
Business Operations and StrategyRegulatory Filings and ComplianceShareholder Meetings
Zedcor Adopts Shareholder Rights Plan Amid North American Security Expansion
Positive
Apr 13, 2026
Zedcor Inc., a Canadian physical security technology provider known for its MobileyeZ mobile surveillance towers and live monitoring services, is growing its footprint across Canada and the United States, targeting blue-chip customers and emphasiz...
Business Operations and StrategyFinancial Disclosures
Zedcor Inc. Delivers Record Q4 2025 Results on Surging North American Security Demand
Positive
Apr 8, 2026
Zedcor Inc. posted record fourth-quarter 2025 results, with revenue rising 73% year over year to $17.8 million and adjusted EBITDA increasing 77% to $7.1 million, yielding a 40% margin. The company’s performance was driven by strong utilizat...
Business Operations and StrategyPrivate Placements and Financing
Zedcor Raises $30.5 Million to Accelerate North American Security Expansion
Positive
Feb 27, 2026
Zedcor Inc. has closed an upsized bought deal public offering of 5,084,000 common shares at $6.00 per share, raising gross proceeds of about $30.5 million, with underwriters retaining a 30-day over-allotment option for additional shares. The compa...
Business Operations and StrategyPrivate Placements and Financing
Zedcor Secures $30.5 Million Bought-Deal Offering to Fund Security Platform Expansion
Positive
Feb 25, 2026
Zedcor Inc., a Canadian-listed security technology firm, has secured a final short form prospectus for a bought-deal public offering of 5,084,000 common shares at $6.00 per share, raising gross proceeds of $30.5 million. The underwriters also hold...
Business Operations and StrategyPrivate Placements and Financing
Zedcor Upsizes Bought Deal to $30.5 Million Amid Strong Investor Demand
Positive
Feb 11, 2026
Zedcor Inc. has upsized its previously announced bought deal public offering to $30.5 million, with underwriters now set to purchase 5,084,000 common shares at $6.00 each and an over-allotment option for an additional 15% of the offering. The deal...
Business Operations and StrategyPrivate Placements and Financing
Zedcor launches $27.5 million bought deal to fund North American security tower expansion
Positive
Feb 10, 2026
Zedcor Inc. has launched a $27.5 million bought deal public offering, with underwriters led by National Bank Financial and Desjardins agreeing to purchase 4,584,000 common shares at $6.00 each, and an over-allotment option of up to 15% to support ...
Business Operations and StrategyPrivate Placements and Financing
Zedcor Expands Credit Facility to $75 Million as Houston Hub Comes Online
Positive
Feb 3, 2026
Zedcor Inc. has expanded its credit facility with National Bank of Canada by $25 million to a total of $75 million in committed borrowing capacity, plus an additional $25 million uncommitted accordion, bolstering non-dilutive financing for its Nor...
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.