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Information Services

TSX:ISV
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ISV
TSX
CA$245M
Market Cap
  1. Home
  2. CA
  3. Real Estate
Company description

Information Services Corporation, together with its subsidiaries, provides registry and information management services for public data and records in Canada and internationally. The last earnings update was 17 days ago. More info.


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ISV Share Price and Events
7 Day Returns
1.8%
TSX:ISV
-3.9%
CA Real Estate
-0.1%
CA Market
1 Year Returns
-13.7%
TSX:ISV
-11.8%
CA Real Estate
-24.6%
CA Market
ISV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Information Services (ISV) 1.8% -14.1% -8.1% -13.7% -26.3% -15.2%
CA Real Estate -3.9% -26% -22.4% -11.8% 1.5% 4.7%
CA Market -0.1% -21.2% -24.7% -24.6% -22.1% -16.5%
1 Year Return vs Industry and Market
  • ISV underperformed the Real Estate industry which returned -11.8% over the past year.
  • ISV outperformed the Market in Canada which returned -24.6% over the past year.
Price Volatility
ISV
Industry
5yr Volatility vs Market

ISV Value

 Is Information Services undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Information Services to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Information Services.

TSX:ISV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:ISV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 0.97
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.974 (1 + (1- 26.5%) (11.76%))
1.039
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.04
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (1.039 * 5.44%)
7.09%

Discounted Cash Flow Calculation for TSX:ISV using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Information Services is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

TSX:ISV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 7.09%)
2020 27.30 Analyst x2 25.49
2021 27.20 Analyst x2 23.72
2022 27.25 Est @ 0.2% 22.19
2023 27.41 Est @ 0.57% 20.84
2024 27.64 Est @ 0.83% 19.62
2025 27.92 Est @ 1.01% 18.51
2026 28.23 Est @ 1.14% 17.48
2027 28.58 Est @ 1.23% 16.52
2028 28.95 Est @ 1.29% 15.63
2029 29.34 Est @ 1.34% 14.79
Present value of next 10 years cash flows CA$194.00
TSX:ISV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$29.34 × (1 + 1.44%) ÷ (7.09% – 1.44%)
CA$526.60
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$526.60 ÷ (1 + 7.09%)10
CA$265.42
TSX:ISV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$194.00 + CA$265.42
CA$459.42
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$459.42 / 17.50
CA$26.25
TSX:ISV Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$26.25
Current discount Discount to share price of CA$14.00
= -1 x (CA$14.00 - CA$26.25) / CA$26.25
46.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Information Services is available for.
Intrinsic value
47%
Share price is CA$14 vs Future cash flow value of CA$26.25
Current Discount Checks
For Information Services to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Information Services's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Information Services's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Information Services's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Information Services's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:ISV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$1.11
TSX:ISV Share Price ** TSX (2020-04-02) in CAD CA$14
Canada Real Estate Industry PE Ratio Median Figure of 20 Publicly-Listed Real Estate Companies 10.47x
Canada Market PE Ratio Median Figure of 497 Publicly-Listed Companies 10.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Information Services.

TSX:ISV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:ISV Share Price ÷ EPS (both in CAD)

= 14 ÷ 1.11

12.63x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Information Services is overvalued based on earnings compared to the CA Real Estate industry average.
  • Information Services is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Information Services's expected growth come at a high price?
Raw Data
TSX:ISV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.63x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-0.3%per year
North America Real Estate Industry PEG Ratio Median Figure of 14 Publicly-Listed Real Estate Companies 0.58x
Canada Market PEG Ratio Median Figure of 233 Publicly-Listed Companies 0.67x

*Line of best fit is calculated by linear regression .

TSX:ISV PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.63x ÷ -0.3%

-47.44x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Information Services earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Information Services's assets?
Raw Data
TSX:ISV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$6.53
TSX:ISV Share Price * TSX (2020-04-02) in CAD CA$14
Canada Real Estate Industry PB Ratio Median Figure of 37 Publicly-Listed Real Estate Companies 0.62x
Canada Market PB Ratio Median Figure of 2,356 Publicly-Listed Companies 0.98x
TSX:ISV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:ISV Share Price ÷ Book Value per Share (both in CAD)

= 14 ÷ 6.53

2.14x

* Primary Listing of Information Services.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Information Services is overvalued based on assets compared to the CA Real Estate industry average.
X
Value checks
We assess Information Services's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. Information Services has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ISV Future Performance

 How is Information Services expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-0.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Information Services expected to grow at an attractive rate?
  • Information Services's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.4%.
Growth vs Market Checks
  • Information Services's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
  • Information Services's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:ISV Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:ISV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -0.3%
TSX:ISV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 2.4%
North America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 21.8%
Canada Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 2.9%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:ISV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:ISV Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 139 32 19 2
2020-12-31 136 32 18 2
2020-04-03
TSX:ISV Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 133 24 19
2019-09-30 126 20 15
2019-06-30 124 25 20
2019-03-31 121 28 19
2018-12-31 119 30 19
2018-09-30 112 30 34
2018-06-30 105 30 28
2018-03-31 99 29 28
2017-12-31 94 33 28
2017-09-30 91 31 12
2017-06-30 90 28 14
2017-03-31 90 28 16

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Information Services's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Information Services's revenue is expected to grow by 2.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:ISV Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Information Services Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:ISV Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.11 1.15 1.06 2.00
2020-12-31 1.05 1.05 1.05 2.00
2020-04-03
TSX:ISV Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 1.11
2019-09-30 0.87
2019-06-30 1.13
2019-03-31 1.09
2018-12-31 1.06
2018-09-30 1.96
2018-06-30 1.62
2018-03-31 1.60
2017-12-31 1.59
2017-09-30 0.68
2017-06-30 0.79
2017-03-31 0.90

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Information Services will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Information Services's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the North America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Information Services has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ISV Past Performance

  How has Information Services performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Information Services's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Information Services's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Information Services's 1-year earnings growth is less than its 5-year average (4.1% vs 6.5%)
  • Information Services's earnings growth has exceeded the CA Real Estate industry average in the past year (4.1% vs -22.9%).
Earnings and Revenue History
Information Services's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Information Services Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:ISV Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 132.97 19.40 58.09
2019-09-30 126.04 15.25 58.46
2019-06-30 124.05 19.75 56.99
2019-03-31 120.87 19.12 56.98
2018-12-31 119.13 18.64 54.48
2018-09-30 111.70 34.25 54.54
2018-06-30 105.38 28.35 55.05
2018-03-31 98.97 27.93 55.42
2017-12-31 93.59 27.79 55.25
2017-09-30 91.21 11.93 54.31
2017-06-30 90.24 13.89 52.50
2017-03-31 90.27 15.73 49.98
2016-12-31 88.38 15.50 48.17
2016-09-30 89.75 17.15 46.82
2016-06-30 86.53 18.00 44.34
2016-03-31 81.91 16.39 43.52
2015-12-31 78.32 15.92 42.67
2015-09-30 75.50 15.36 41.93
2015-06-30 77.10 16.95 42.50
2015-03-31 79.07 17.28 42.82
2014-12-31 80.46 18.36 43.31
2014-09-30 80.74 19.09 42.23
2014-06-30 80.29 18.92 42.57
2014-03-31 79.46 77.18 40.71
2013-12-31 79.13 77.74 39.87
2013-09-30 77.37 78.33 38.65
2013-06-30 75.57 78.23 37.48

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Information Services has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Information Services used its assets more efficiently than the CA Real Estate industry average last year based on Return on Assets.
  • Information Services has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Information Services's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Information Services has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ISV Health

 How is Information Services's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Information Services's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Information Services is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Information Services's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Information Services's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Information Services Company Filings, last reported 3 months ago.

TSX:ISV Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 114.24 18.00 23.81
2019-09-30 110.31 18.50 19.81
2019-06-30 110.60 19.00 19.62
2019-03-31 108.24 19.50 18.08
2018-12-31 108.88 20.00 28.70
2018-09-30 109.35 20.44 37.39
2018-06-30 105.06 20.81 31.75
2018-03-31 103.51 21.56 27.29
2017-12-31 103.97 21.56 31.42
2017-09-30 88.58 32.31 38.72
2017-06-30 90.14 32.31 31.75
2017-03-31 88.23 33.06 28.11
2016-12-31 89.32 23.44 33.53
2016-09-30 89.81 23.44 38.26
2016-06-30 89.39 23.81 35.16
2016-03-31 86.23 24.19 33.77
2015-12-31 87.44 24.56 36.57
2015-09-30 86.29 9.94 39.78
2015-06-30 85.08 9.94 39.41
2015-03-31 83.59 9.94 36.99
2014-12-31 85.35 9.94 33.58
2014-09-30 84.86 9.94 32.23
2014-06-30 82.07 9.94 30.51
2014-03-31 80.24 9.94 24.70
2013-12-31 80.94 9.94 27.61
2013-09-30 79.70 9.94 23.86
2013-06-30 20.32 9.94 17.69
  • Information Services's level of debt (15.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (11.6% vs 15.8% today).
  • Debt is well covered by operating cash flow (131.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 24.5x coverage).
X
Financial health checks
We assess Information Services's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Information Services has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ISV Dividends

 What is Information Services's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.71%
Current annual income from Information Services dividends.
If you bought CA$2,000 of Information Services shares you are expected to receive CA$114 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Information Services's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.7%).
  • Information Services's dividend is below the markets top 25% of dividend payers in Canada (8.68%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:ISV Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Canada Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 1.8%
Canada Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 4.7%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.4%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:ISV Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2020-04-03
TSX:ISV Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-03-17 0.800 5.740
2019-11-07 0.800 5.087
2019-08-06 0.800 4.981
2019-05-08 0.800 4.888
2019-03-20 0.800 4.833
2018-11-07 0.800 4.981
2018-08-07 0.800 4.880
2018-05-03 0.800 4.591
2018-03-13 0.800 4.670
2017-11-07 0.800 4.526
2017-08-03 0.800 4.543
2017-05-08 0.800 4.359
2017-03-14 0.800 4.227
2016-11-03 0.800 4.366
2016-08-09 0.800 4.450
2016-05-09 0.800 4.783
2016-03-15 0.800 5.487
2015-11-04 0.800 5.696
2015-08-05 0.800 5.598
2015-05-05 0.800 5.240
2015-03-17 0.800 4.780
2014-11-12 0.800 4.493
2014-08-13 0.800 4.260
2014-05-08 0.800 4.213
2014-03-19 0.800 4.159
2013-11-13 0.800 4.401
2013-08-12 0.800 4.840

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Information Services has been paying a dividend for less than 10 years.
  • Information Services has only been paying a dividend for 7 years, and since then there has been no growth.
Current Payout to shareholders
What portion of Information Services's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Information Services's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.4%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Information Services afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Information Services has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ISV Management

 What is the CEO of Information Services's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jeff Stusek
COMPENSATION CA$876,387
TENURE AS CEO 11.8 years
CEO Bio

Mr. Jeff Stusek, MBA, B.Admin has been the Chief Executive Officer and President at Information Services Corporation since July 1, 2008. Mr. Stusek served as Chief Operating Officer at Information Services Corporation Of Saskatchewan. He exhibited an inclusive leadership style and maintained a resilient focus on business excellence and innovation. Prior to joining ISC, he spent over 13 years in leadership positions at the City of Regina as the Director of Transit and managing Information Technology. An active member of his community, he is the President of the Regina Thunder Junior Football Club and former Cabinet Director for the United Way. Mr. Stusek holds a Bachelor of Administration and a Master of Business Administration degree from the University of Regina. He is married with two young sons.

CEO Compensation
  • Jeff's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Jeff's remuneration is about average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Information Services management team in years:

2.5
Average Tenure
  • The tenure for the Information Services management team is about average.
Management Team

Jeff Stusek

TITLE
President & CEO
COMPENSATION
CA$876K
TENURE
11.8 yrs

Shawn Peters

TITLE
Executive VP & CFO
COMPENSATION
CA$446K
TENURE
8.3 yrs

Loren Cisyk

TITLE
Executive Vice President of Technology Solutions
COMPENSATION
CA$442K
TENURE
2.5 yrs

Dennis White

TITLE
Vice President of Marketing & Business Development
COMPENSATION
CA$454K
TENURE
2.5 yrs

Chris Valentine

TITLE
COMPENSATION
CA$470K
TENURE
1.4 yrs

Jonathan Hackshaw

TITLE
Director of Investor Relations & Capital Markets
TENURE
6.4 yrs

Kathy Hillman-Weir

TITLE
Executive VP
COMPENSATION
CA$396K
TENURE
9.3 yrs

Catherine McLean

TITLE
Vice President of People & Culture
TENURE
2.5 yrs

Ken Budzak

TITLE
Executive Vice President of Registry Operations
COMPENSATION
CA$384K

Clare Colledge

TITLE
President of ESC Corporate Services
TENURE
1.4 yrs
Board of Directors Tenure

Average tenure and age of the Information Services board of directors in years:

7.3
Average Tenure
61
Average Age
  • The tenure for the Information Services board of directors is about average.
Board of Directors

Joel Teal

TITLE
Independent Chairman of the Board
COMPENSATION
CA$113K
AGE
72
TENURE
7.3 yrs

Doug Emsley

TITLE
Independent Director
COMPENSATION
CA$70K
AGE
61
TENURE
7.3 yrs

Tony Guglielmin

TITLE
Independent Director
COMPENSATION
CA$79K
TENURE
7.3 yrs

Dion Tchorzewski

TITLE
Independent Director
COMPENSATION
CA$70K
TENURE
7.3 yrs

Tom Christiansen

TITLE
Independent Director
COMPENSATION
CA$70K
TENURE
11.3 yrs

William Musgrave

TITLE
Independent Director
COMPENSATION
CA$71K
TENURE
10.3 yrs

Karyn Brooks

TITLE
Independent Director
COMPENSATION
CA$71K
AGE
64
TENURE
3.9 yrs

Iraj Pourian

TITLE
Independent Director
COMPENSATION
CA$70K
AGE
61
TENURE
3.9 yrs

Laurie Powers

TITLE
Independent Director
COMPENSATION
CA$52K
TENURE
1.9 yrs

Heather Ross

TITLE
Independent Director
COMPENSATION
CA$55K
AGE
57
TENURE
1.9 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Information Services individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
26. Mar 20 Buy Jonathan Hackshaw Individual 26. Mar 20 26. Mar 20 200 CA$14.00 CA$2,800
X
Management checks
We assess Information Services's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Information Services has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ISV News

Simply Wall St News

Should You Take Comfort From Insider Transactions At Information Services Corporation (TSE:ISV)?

So shareholders might well want to know whether insiders have been buying or selling shares in Information Services Corporation (TSE:ISV). … View our latest analysis for Information Services The Last 12 Months Of Insider Transactions At Information Services Independent Director William Musgrave made the biggest insider purchase in the last 12 months. … In the last twelve months Information Services insiders were buying shares, but not selling.

Simply Wall St -

Is Information Services Corporation (TSE:ISV) Potentially Undervalued?

Information Services Corporation (TSE:ISV), which is in the real estate business, and is based in Canada, saw its share price hover around a small range of CA$15.91 to CA$17 over the last few weeks. … It’s trading around 4.7% below my intrinsic value, which means if you buy Information Services today, you’d be paying a reasonable price for it. … In addition to this, Information Services has a low beta, which suggests its share price is less volatile than the wider market.

Simply Wall St -

Is Information Services Corporation's (TSE:ISV) P/E Ratio Really That Good?

Information Services has a price to earnings ratio of 14.7, based on the last twelve months. … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Information Services: P/E of 14.7 = CA$16.06 ÷ CA$1.09 (Based on the trailing twelve months to March 2019.) Is A High P/E Ratio Good? … All else being equal, it's better to pay a low price -- but as Warren Buffett said, 'It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.' How Does Information Services's P/E Ratio Compare To Its Peers?

Simply Wall St -

One Thing To Remember About The Information Services Corporation (TSE:ISV) Share Price

Anyone researching Information Services Corporation (TSE:ISV) might want to consider the historical volatility of the share price. … If the future looks like the past, we could therefore consider it likely that the stock price will experience share price volatility that is roughly similar to the overall market. … What this means for you: Since Information Services has a beta close to one, it will probably show a positive return when the market is moving up, based on history.

Simply Wall St -

Dividend Investors: Don't Be Too Quick To Buy Information Services Corporation (TSE:ISV) For Its Upcoming Dividend

As a result, readers should always check whether Information Services has been able to grow its dividends, or if the dividend might be cut. … View our latest analysis for Information Services If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. … With that in mind, we're discomforted by Information Services's 24%per annum decline in earnings in the past five years.

Simply Wall St -

A Look At The Fair Value Of Information Services Corporation (TSE:ISV)

Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (CA$, Millions) CA$14.30 CA$23.40 CA$22.37 CA$21.81 CA$21.56 CA$21.51 CA$21.60 CA$21.79 CA$22.05 CA$22.37 Growth Rate Estimate Source Analyst x1 Analyst x1 Est @ -4.4% Est @ -2.5% Est @ -1.16% Est @ -0.23% Est @ 0.42% Est @ 0.88% Est @ 1.2% Est @ 1.42% Present Value (CA$, Millions) Discounted @ 8.32% CA$13.20 CA$19.94 CA$17.60 CA$15.84 CA$14.46 CA$13.31 CA$12.34 CA$11.49 CA$10.74 CA$10.06 Present Value of 10-year Cash Flow (PVCF)= CA$138.99m "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = CA$22m × (1 + 1.9%) ÷ (8.3% – 1.9%) = CA$358m Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = CA$CA$358m ÷ ( 1 + 8.3%)10 = CA$160.78m The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is CA$299.77m. … TSX:ISV Intrinsic value, June 14th 2019 Important assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

Is Information Services Corporation (TSE:ISV) Excessively Paying Its CEO?

Jeff Stusek became the CEO of Information Services Corporation (TSE:ISV) in 2008. … View our latest analysis for Information Services How Does Jeff Stusek's Compensation Compare With Similar Sized Companies? … According to our data, Information Services Corporation has a market capitalization of CA$285m, and pays its CEO total annual compensation worth CA$876k.

Simply Wall St -

Can Information Services Corporation (TSE:ISV) Maintain Its Strong Returns?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Information Services: 18% = CA$19m ÷ CA$108m (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does Information Services Have A Good Return On Equity? … Combining Information Services's Debt And Its 18% Return On Equity Information Services has a debt to equity ratio of 0.29, which is far from excessive.

Simply Wall St -

Why Information Services Corporation (TSE:ISV) Could Be Worth Watching

saw significant share price movement during recent months on the TSX, rising to highs of CA$18.09 and falling to the lows of CA$15.47. … Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price? … Let’s take a look at Information Services’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Have Insiders Been Buying Information Services Corporation (TSE:ISV) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in Information Services Corporation (TSE:ISV). … The Last 12 Months Of Insider Transactions At Information Services. … In the last twelve months Information Services insiders were buying shares, but not selling

Simply Wall St -

ISV Company Info

Description

Information Services Corporation, together with its subsidiaries, provides registry and information management services for public data and records in Canada and internationally. It operates through three segments: Registry Operations, Services, and Technology Solutions. The company provides land titles registry services that issues titles to land and registers transactions affecting titles, including changes of ownership and the registration of interests in land; land surveys directory, which plans and creates a representation of Saskatchewan land parcels in the cadastral parcel mapping system; and geomatics services that manages geographic data in relation to the cadastral parcel mapping system. It also offers personal property registry, a notice-based public registry in which security interests and other interests in personal property are registered; and corporate registry, which is a province-wide system for registering business corporations, non-profit corporations, co-operatives, sole proprietorships, partnerships, and business names. In addition, the company provides search and registration services through an online workflow platform for the Ontario business information system; know-your-customer services; and corporate supplies for companies to organize and maintain corporate legal documents. Information Services Corporation serves law firms, financial institutions, accountants, non-profit and co-operative associations, and entrepreneurs, as well as lending, leasing, and credit issuing businesses and institutions. The company was formerly known as Saskatchewan Land Information Services Corporation and changed its name to Information Services Corporation in November 2000. Information Services Corporation was founded in 2000 and is headquartered in Regina, Canada.

Details
Name: Information Services Corporation
ISV
Exchange: TSX
Founded: 2000
CA$245,000,000
17,500,000
Website: http://www.company.isc.ca
Address: Information Services Corporation
10 Research Drive,
Suite 300,
Regina,
Saskatchewan, S4S 7J7,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX ISV Class A Shares The Toronto Stock Exchange CA CAD 09. Jul 2013
OTCPK IRMT.F Class A Shares Pink Sheets LLC US USD 09. Jul 2013
Number of employees
Current staff
Staff numbers
370
Information Services employees.
Industry
Real Estate Services
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 06:47
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/03/18
Last earnings filing: 2020/03/17
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.