Added to YB: 2026-03-06
Pitch date: 2026-03-04
PRL.TO [neutral]
Propel Holdings Inc.
Author Info
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Company Info
Propel Holdings Inc., together with its subsidiaries, operates as a financial technology company. The company’s lending platform facilitates to credit products, such as installment loans and lines of credit under the MoneyKey, CreditFresh, and Fora Credit brands to American consumers.
Market Cap
CAD 601.4M
Pitch Price
N/A
Price Target
82.00
Dividend
N/A
EV/EBITDA
6.61
P/E
10.84
EV/Sales
1.55
Sector
Consumer Finance
Category
value
Propel Holdings (TSX: PRL) Q4, Full Year Earnings and 2026 Guidance Review
PRL.TO (earnings): Q4 adj net income $12.3M vs $24M prior year, but 2/3 of miss from timing: $30M of $32M quarterly CLAB growth hit in Dec, creating IFRS 9 front-load drag (full lifetime loss provisioned upfront, revenue earned over months). Real drivers: Q3 vintage flush (done), gov shutdown Oct-Nov (ended), Dec origination surge (already earning in Q1). Mgmt confirms Q1 defaults/collections outperforming, PCL normalizing mid-40s vs Q4's 56%. 2026 guide: $730-770M rev (+24-31%), $90M adj NI (+35%), 28% ROE. LaaS triple-digit growth to 10% rev by Q4. Freshline launches w/ $60M Mesirow commitment. Trading 5.9x fwd P/E, down from $25 to <$18 despite better fundamentals.
Read full article (12 min)