Added to YB: 2026-03-19
Pitch date: 2026-03-17
PNG.V [bullish]
Kraken Robotics Inc.
Author Info
No bio for this author
Company Info
Kraken Robotics Inc., a marine technology company, engages in the design, manufacture, and sale of sonar and optical sensors, batteries, and underwater robotic equipment for unmanned underwater vehicles used in military and commercial applications in Canada, the Asia Pacific, Europe, the Middle East, Africa, North America, and internationally.
Market Cap
CAD 2.9B
Pitch Price
N/A
Price Target
20.10
Dividend
N/A
EV/EBITDA
134.21
P/E
157.88
EV/Sales
28.03
Sector
Electronic Equipment, Instruments and Components
Category
special_situation
Kraken Robotics: Becoming a One-Stop Subsea Shop
PNG.V: Acquired Covelya Group for 9.7x 2025E adj EBITDA ($63M midpoint), scaling combined rev 2.15x to $365M (Kraken $103M + Covelya $262M). Deal accretive on rev, EBITDA, CFPS, EPS; low-mid double-digit EPS accretion in 2027E after $10M synergies. 0.8x pro forma net leverage. If market re-rates to pre-deal 18x NTM P/S, implies ~100%+ upside from current $3B mkt cap to $6.57B target despite 18-22% dilution.
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