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BioSyent

RX.V
73
Medical - Pharmaceuticals · Healthcare
Price
C$14.74
+0.05 (+0.34%)
Market Cap
C$168.6M
Exchange
Toronto Stock Exchange Ventures
Winston Score
73
Winston is happy
A high-quality business with solid fundamentals.
Data as of Jul 25, 2026 · filings through Mar 31, 2026

Share count falling — buybacks

10.6% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 12.9M (2021) → 11.5M (2025)

BioSyent is a small Canadian specialty pharmaceutical company that licenses and sells prescription drugs to hospitals and healthcare providers. It focuses on niche medical products that larger drug companies tend to ignore, including drugs used in hospital settings for things like cardiac procedures and patient recovery. Its flagship product, FeraMAX, is an iron deficiency treatment, and it also sells Cathejell and other specialty medicines primarily to Canadian healthcare professionals.

The company makes money by acquiring the Canadian rights to existing drugs developed elsewhere, then marketing and distributing them to doctors and hospitals across Canada. BioSyent operates almost entirely within Canada, which keeps its business focused but also limits its growth ceiling. Its moat comes from holding exclusive Canadian licenses for its products, which reduces direct competition, though the business faces risk if any key product loses market share or if licensing agreements are not renewed or expanded successfully.

Winston Score History

Growth Profile

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

Revenue Growth

+26.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+0.0% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$341,049/ year

Rising (+99% vs prior year)

0.8% of revenue

Below sector average (18%)

R&D investment increasing — building for the future

Insider Activity

38.6%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$14M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

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

Revenue accelerating

BioSyent grew revenue 27% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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

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Quality

Gross Margin
69.6%
Premium pricing power — 69.6% gross margin
Operating Margin
22.8%
Excellent — 22.8% operating margin
ROCE
6.5%
Weak — 6.5% 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 YoY
+20.1%
Fast-growing sales (20.1% YoY)
EPS YoY
+17.4%
Earnings growing fast (17.4% YoY)

Healthy double-digit earnings growth — what compounders look like.

EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion
144%
Turns 144% of profit into real cash
FCF Margin
27.6%
Converts sales into free cash efficiently (27.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity
0.09
Conservative — low debt load (0.09)
Interest Cover
170.06x
Comfortably covers interest (170.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)
18.2x
Fair value — P/E 18.2

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward
+1.6
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend Yield
1.42%
Small dividend — 1.42% yield

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

Dividend Growth
+10.5%
Dividend growing fast (10.5% YoY)

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