Professional
Added to YB: 2025-09-25
Pitch date: 2025-09-22
GSY.TO [bearish]
goeasy Ltd.
+5.25%
current return
Author Info
Jehoshaphat Research are fraud-busters who force management teams to answer to their shareholders by exposing deceptive accounting and other improper corporate practices. Sign up for the newsletter.
Company Info
goeasy Ltd. provides non-prime leasing and lending services under the easyhome, easyfinancial, and LendCare brands to consumers in Canada.
Market Cap
CAD 3.0B
Pitch Price
CAD 184.33
Price Target
N/A
Dividend
3.17%
EV/EBITDA
N/A
P/E
11.08
EV/Sales
N/A
Sector
Consumer Finance
Category
N/A
goeasy (GSY CN): A Canadian subprime loan time bomb
GSY.TO short: Canadian subprime lender sitting on ~$300M delayed credit losses via accounting games. True NCO rate ~15% vs reported 9%. Exploding interest receivable shows hidden delinquencies. Changed charge-off rules, risk scoring, expense recognition to push losses forward. CFO sudden departure after first-ever stock sale. Secured book 6-7% >90d DQ rate with poor recoveries.
Read full article (54 min)