External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Equity Bottom-Up

<p>Key points <em>(machine generated)</em></p><ul><li>Goeasy is a Canadian company specializing in sub-prime lending, serving individuals with low credit scores as a lender of last resort.</li><li>The company offers various credit products with interest rates ranging from 9.9% to 46.9%.</li><li>Goeasy operates in a niche market with significant growth potential as approximately 8.5 million Canadians are classified as non-prime borrowers.</li></ul><p><em>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Key points (machine generated)Goeasy is a Canadian company specializing in sub-prime lending, serving individuals with low credit scores as a lender of last resort.The company offers various credit products with interest rates ranging from 9.9% to 46.9%.Goeasy operates in a niche market with significant growth potential as approximately 8.5 million Canadians are classified as non-prime borrowers.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Goeasy Ltd (GSY.) - Wednesday, Oct 11, 2023

Managing Partner, VRS (Valuation & Research Specialists)

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<h2>GOEASY LTD. (GSY.TO)</h2>
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<h3>Fundamentals</h3>
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<p>GOEASY is one of Canada’s leading non-prime consumer lenders targeting the $196 billion non-prime consumer lending market. Overall the company has been showing very strong track record in expanding revenues and profit.</p>
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<h3>Valuation Highlights</h3>
<p>The stock is trading below the stock market’s historic average P/E ratio of 15- 17x, whereas in terms of P/BV multiple the stock is quite expensive compared to the average industry ratio of 2.4x. This coupled with the company’s low credit rating could imply that GOEASY is not an undervalued stock.</p>
<h3>View</h3>
<p>The company’s business by its nature is risky. Short-term momentum should remain in favor for the company and the stock though, given the continued growth and strong profit margins observed in the first three quarters of 2021 along with the management’s positive guidance for years 2022–2023. The company looks fundamentally in quite strong position but underlying strength when it comes to its status as credit provider is not equally healthy. Its low credit rating is a major issue of concern and does not justify its valuation when the P/BV ratio is being considered. GOEASY is a combination of a growth stock and speculative stock.</p>
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GOEASY LTD. (GSY.TO)











Fundamentals




GOEASY is one of Canada’s leading non-prime consumer lenders targeting the $196 billion non-prime consumer lending market. Overall the company has been showing very strong track record in expanding revenues and profit.




Valuation Highlights
The stock is trading below the stock market’s historic average P/E ratio of 15- 17x, whereas in terms of P/BV multiple the stock is quite expensive compared to the average industry ratio of 2.4x. This coupled with the company’s low credit rating could imply that GOEASY is not an undervalued stock.
View
The company’s business by its nature is risky. Short-term momentum should remain in favor for the company and the stock though, given the continued growth and strong profit margins observed in the first three quarters of 2021 along with the management’s positive guidance for years 2022–2023. The company looks fundamentally in quite strong position but underlying strength when it comes to its status as credit provider is not equally healthy. Its low credit rating is a major issue of concern and does not justify its valuation when the P/BV ratio is being considered. GOEASY is a combination of a growth stock and speculative stock.





















Goeasy Ltd. (Gsy.to) - GOEASY Is One of Canada’s Leading Non-Prime Consumer Lenders Targeting the $196 Billion Non-Prime Consumer Lending Market.

Canada

goeasy Ltd. provides goods and financial services. The Company leases household furnishings, appliances and home electronic products as well as provides consumer loans.

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Goeasy (GSY CN)

Goeasy Ltd (GSY.) - Wednesday, Oct 11, 2023

Goeasy is a Canadian sub-prime lending company that targets individuals with low credit scores, providing various credit products at interest rates...

Value Investors Club (VIC)

Goeasy Ltd. (Gsy.to) - GOEASY Is One of Canada’s Leading Non-Prime Consumer Lenders Targeting the $196 Billion Non-Prime Consumer Lending Market.

GOEASY LTD. (GSY.TO) Fundamentals GOEASY is one of Canada’s leading non-prime consumer lenders targeting the $196 billion...

VRS (Valuation & Research Specialists)

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