BQE Water Inc
XTSX:BQE

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BQE Water Inc
XTSX:BQE
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Price: 69.2 CAD -1.14%
Market Cap: CA$90m

EV/EBITDA

12.2
Current
27%
Cheaper
vs 3-y median of 16.7

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
12.2
=
Enterprise Value
CA$81m
/
EBITDA
CA$6.1m

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
12.2
=
Enterprise Value
CA$81m
/
EBITDA
CA$6.1m

Valuation Scenarios

BQE Water Inc is trading below its 3-year average

If EV/EBITDA returns to its 3-Year Average (16.7), the stock would be worth CA$94.72 (37% upside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-17%
Maximum Upside
+73%
Average Upside
21%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 12.2 CA$69.2
0%
3-Year Average 16.7 CA$94.72
+37%
5-Year Average 21.1 CA$119.95
+73%
Industry Average 11.2 CA$63.48
-8%
Country Average 10.2 CA$57.75
-17%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
CA$81m
/
Oct 2025
CA$6.1m
=
12.2
Current
CA$81m
/
Dec 2025
CA$9.7m
=
8.4
Forward
CA$81m
/
Dec 2026
CA$11.3m
=
7.2
Forward
CA$81m
/
Dec 2027
CA$13.5m
=
6
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
CA
BQE Water Inc
XTSX:BQE
90.8m CAD 12.2 12.1
US
Waste Management Inc
NYSE:WM
93.1B USD 15.3 34.1
US
Republic Services Inc
NYSE:RSG
65.8B USD 15.2 30.6
CA
Waste Connections Inc
TSX:WCN
57B CAD 16.3 38.6
US
Rollins Inc
NYSE:ROL
26.3B USD 31.5 50.3
US
Veralto Corp
NYSE:VLTO
22.6B USD 16.7 24.2
UK
Rentokil Initial PLC
LSE:RTO
12.4B GBP 12.7 26.8
US
Clean Harbors Inc
NYSE:CLH
16.1B USD 15.6 40.3
CA
GFL Environmental Inc
TSX:GFL
19.2B CAD 15.4 5
CN
Spic Yuanda Environmental Protection Co Ltd
SSE:600292
65.4B CNY 921.9 18 059.4
US
Tetra Tech Inc
NASDAQ:TTEK
8.1B USD 13 23.4

Market Distribution

In line with most companies in Canada
Percentile
62nd
Based on 2 002 companies
62nd percentile
12.2
Low
0 — 7
Typical Range
7 — 14.5
High
14.5 —
Distribution Statistics
Canada
Min 0
30th Percentile 7
Median 10.2
70th Percentile 14.5
Max 13 731.1

BQE Water Inc
Glance View

BQE Water, Inc. engages in the provision of water treatment and management for the mining and metallurgical industry. The company is headquartered in Vancouver, British Columbia. The firm manages mine wastewaters and metallurgical bleed streams. The firm provides various technology solutions, including metals, sulphate, selenium and Cyanide/SART. Its metal technology includes BioSulphide & ChemSulphide and Met-IX. Its sulphate technology includes Sulf-IX and Sulf-IXC, and Sulf-IX and Sulf-IXC Mobile Pilot Plant. Its Selenium technology includes Selen-IX and Selen-IX Mobile Pilot Plant. Its Cyanide/SART technology includes SART. Its processes remove metals to meet ultra-low discharge limits, recover metals. Its technologies selectively remove sulphate without producing liquid brine waste and recover approximately 95% of water. Its technology solution selectively removes selenium from mine waters to less than one parts per billion, produces only a small quantity of non-hazardous solid by-product.

BQE Intrinsic Value
86.38 CAD
Undervaluation 20%
Intrinsic Value
Price CA$69.2
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