TerraVest Industries

TVK.TO

Oil & Gas Equipment & Services · Energy

Exchange

Toronto Stock Exchange

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Strong

Cash Flow

Strong

Stability

Mixed

Valuation

Mixed

Dividends

Good

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Winston Score History

The full picture

TerraVest Industries is a Canadian manufacturer that makes large metal tanks and pressure vessels used to store and transport propane, natural gas, and other fuels. Its main products include home heating fuel tanks, industrial storage vessels, and equipment used in the oil and gas industry. The company sells to energy distributors, utilities, and industrial customers mostly across Canada and the United States.

TerraVest makes money by selling manufactured equipment, and it has grown largely by acquiring smaller manufacturers over time. It operates primarily in Canada but has expanded its U.S. presence through these acquisitions, giving it a broader customer base and more product lines than most smaller rivals. The company's main growth driver is continued acquisition activity combined with steady demand for fuel storage infrastructure, though its relatively thin operating margins mean that rising steel costs or an economic slowdown could quickly pressure profitability.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+13.6% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+160.0% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

27.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

C$58M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

TerraVest Industries is a rare growth stock that's already generating positive cash flow while growing at 14%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

21.6%

Thin — 21.6% gross margin

Profit after running costs

Operating Margin

10.0%

Modest — 10.0% operating margin

Return on the money invested

ROCE

8.7%

Below par — 8.7% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+46.4%

Fast-growing sales (+46.4% YoY)

Profit growth

EPS YoY

+3.9%

Modest earnings growth (+3.9% YoY)

Single-digit earnings growth — steady but not exciting.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

214%

Turns 214% of profit into real cash

Spare cash per sale

FCF Margin

6.3%

Modest free cash flow (6.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

1.15

Elevated debt (1.15)

Covers its interest

Interest Cover

2.18x

Tight — interest eats into profit (2.2x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

27.6x

no trend

Growth-priced — P/E 27.6

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

-11.9

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

0.60%

no trend

Small dividend — 0.60% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+14.3%

no trend

Dividend growing fast (14.3% YoY)

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