Enerflex Ltd.

EFXT

Enerflex Ltd. offers modular natural gas, power technology, and treated water solutions in North America, Latin America, and the Eastern Hemisphere. The company's portfolio includes compression, processing, cryogenic, treated water solutions, and energy infrastructure portfolio includes energy infrastructure solutions under contract for natural gas processing, compression, and treated water equipment.

About the company

Country: CanadaPrice: $20.21Market Cap: $2.5B

Investment snapshot

35%positive consensus

Scored 1d ago

Positive

BUY / PASS

Neutral / negative

1 / 10

NEUTRAL / FAIL

Median fair value

$10.25

-49.3% vs price

Models with upside

2 / 17

Positive margin of safety

Strongest signal

9 of 10 pass — Oshaughnessy objects

Key risk

No clean pass — all 8 investors flag at least one growth criterion

Framework analysis

Verdict	Meaning
BUY	Positive purchase signal: the framework's buy requirements are met.
PASS	The company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state.
NEUTRAL	Neither a positive nor negative conclusion. It does not mean to hold an existing position.
FAIL	The company does not clear the framework's requirements.
Ranked	Ranked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL.

Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.

Metric	Graham Defensive Value	Buffett Quality Compounder	Lynch GARP	Greenblatt Magic Formula	Piotroski F-Score	Dreman Contrarian Value	Munger Quality Focus	Pabrai Dhandho Framework	Akre Three-Legged Stool	Marks Risk-Aware Value	Ackman Activist Value	Templeton Global Bargain Hunter	Sleep Scale Economies Shared	Asness Systematic Factors	Neff Low-P/E Total Return	Schloss Asset-Value Discipline	O'Shaughnessy Systematic Factor Composite
Verdict	FAIL	FAIL	FAIL	BUY · Rank #73 (Top 2.4%)	BUY	FAIL	PASS	FAIL	FAIL	FAIL	NEUTRAL	PASS	PASS	BUY	FAIL	FAIL	FAIL
Score
Analysis	Checking access…	Checking access…	Checking access…	Checking access…	Checking access…	Checking access…	Checking access…	Checking access…	Checking access…	Checking access…	Checking access…	Checking access…	Checking access…	Checking access…	Checking access…	Checking access…	Checking access…
Intrinsic Value (annual)			N/A		N/A				N/A	N/A		N/A	N/A	N/A	N/A	N/A	N/A
Margin of Safety	-97.2%	-306.6%	N/A	-55.8%	N/A	-3574.5%	+58.6%	-190.8%	N/A	N/A	+60.4%	N/A	N/A	N/A	N/A	N/A	N/A
Financial Basis	Annual history · FY 2025 Latest source filing: 2026-02-26 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-02-26 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-02-26 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-02-26 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-02-26 Score computed: 2026-11-14	Annual history · FY 2025 · Market data at 2026-11-01 Latest source filing: 2026-02-26 Score computed: 2026-11-14	Qualitative assessment · Annual history · FY 2025 Latest source filing: 2026-02-26 Score computed: 2026-11-14	Qualitative assessment · Annual history · FY 2025 Latest source filing: 2026-02-26 Score computed: 2026-11-14	Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-02-26 Score computed: 2026-11-14	Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-02-26 Score computed: 2026-11-14	Annual history · FY 2025 · Market data at 2026-11-01 Latest source filing: 2026-02-26 Score computed: 2026-11-14	Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 Latest source filing: 2026-02-26 Score computed: 2026-11-14	Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-02-26 Score computed: 2026-11-14	Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 Latest source filing: 2026-02-26 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-02-26 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-02-26 Score computed: 2026-11-14	Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 Latest source filing: 2026-02-26 Score computed: 2026-11-14

Where It Passes

Cash Flow90% pass✓ 11✗ 1▾
9 of 10 pass — Oshaughnessy objects
Free Cash Flow Proxy$206.0M
✓BuffettPositive and growing
FCF Positive and Growing$326.0M
✓LynchPositive and growing
Operating Cash Flow$345.0M
✓PiotroskiCFO > 0
(CFO / Total Assets) vs ROACFO/Assets=12.81%, ROA=2.38%
✓PiotroskiCFO/Assets > ROA
Price / (CFO / Shares)7.1x
✓Dreman< 8x
P/E or FCF YieldP/E=38.9x, FCF Yield=13.2%
✓PabraiP/E < 15 or FCF Yield > 10%
FCF Positive5/5 years FCF positive
✓MarksPositive FCF in majority of recent years
(OCF - CapEx) / Market Cap13.2%
✓Ackman>= 4%
Price / FCF per Share7.6x
✓Ackman<= 25
Positive Operating Cash Flow frequency5/5 years positive
✓SleepPositive OCF in >= 70% of available years
Operating Cash Flow - Capital Expenditures$326.0M
✓Neff> $0 (app proxy for a strong fundamental case)
(Operating cash flow - capex) / market capitalization+13.21%; #488/4519 (top 10.8%)
✗OshaughnessyTop 10% of eligible cross-section

Where It Falls Short

Growth0% pass✓ 2✗ 11▾
No clean pass — all 8 investors flag at least one growth criterion
EPS Growth (3-yr avg, 10-yr window)N/A (negative base EPS)
✗Graham>= 33% growth
Basic earnings-growth PEG (dividends excluded)P/E 38.9x (growth N/A)
✗Lynch< 1.0 (ideally < 0.5)
3-5 Year EPS CAGR
✗Lynch15-30% (Fast Grower); > 0% to pass
Inventory Growth vs Revenue GrowthInv: 8.5% vs Rev: 6.5%
✗LynchInventory growth < Revenue growth
EPS Growth Direction$-0.16 (2021) -> $0.52 (2025)
✓DremanPositive over recent years
EPS CAGR
✗Dreman> 5% annualized
Positive Net Income Frequency2/5 years positive
✗MarksPositive net income in >= 7 of last 10 years
3yr Median Revenue Growth6.5%
✓Ackman>= 5%
Positive EPS Growth Frequency2/4 years with positive EPS growth
✗AckmanPositive EPS growth in >= 3 of last 5 years
5-Year EPS CAGR
✗Templeton> 0% (5-year EPS CAGR)
Revenue growth vs. gross and operating margin trendgross margin 19.5% -> 22.6%, operating margin 5.2% -> 11.9%
✗SleepRevenue rising; gross margin flat or falling; operating margin holding
5-year Revenue CAGR
✗SleepCAGR > 7%
3-5 Year Diluted EPS CAGR
✗Neff7%-20% annualized
Profitability13% pass✓ 10✗ 25▾
14 of 16 flag EFXT's profitability — Graham, Buffett, Lynch +11 more
Positive EPS (10 years)2/6 years positive
✗GrahamPositive EPS every year for 10 years
EPS Growth (3-yr avg, 10-yr window)N/A (negative base EPS)
✗Graham>= 33% growth
Net Income Positive (10+ years)2/6 years positive
✗BuffettPositive every year for 10+ years
ROE (up to 5-year arithmetic mean)-1.4%
✗Buffett> 15% arithmetic mean (app rule)
Operating Margin (10-yr trend)11.9% (latest)
✓BuffettStable or rising over 10 years
Free Cash Flow Proxy$206.0M
✓BuffettPositive and growing
Earnings Variance (10-yr CoV)N/A (negative mean EPS)
✗BuffettCoV < 0.3
Retained Earnings Effectiveness
✗Buffett$1 retained -> > $1 market value created
Basic earnings-growth PEG (dividends excluded)P/E 38.9x (growth N/A)
✗Lynch< 1.0 (ideally < 0.5)
3-5 Year EPS CAGR
✗Lynch15-30% (Fast Grower); > 0% to pass
ROE5.9%
✗Lynch> 15%
EBIT / Enterprise Value10.3%
✓Greenblatt> 10%
Earnings Yield + ROC AssessmentEY=10.3%, ROC=228.4%
✓GreenblattBoth EY > 10% and ROC > 25%
Net Income / Total Assets2.38%
✓PiotroskiROA > 0
ROA Change YoY1.15% -> 2.38% (delta: +1.23%)
✓PiotroskiCurrent ROA > Prior ROA
(CFO / Total Assets) vs ROACFO/Assets=12.81%, ROA=2.38%
✓PiotroskiCFO/Assets > ROA
Gross Margin Change YoY20.9% -> 22.6%
✓PiotroskiImproved YoY
Pre-Tax Income / Revenue6.3%
✗Dreman>= 8%
Net Income / Shareholders' Equity5.9%
✗Dreman> 12%
Margin of SafetyP/E=38.9x, P/B=2.3x
✗PabraiP/B < 1.5 or P/E < 15
Return on Equity0.3% (3-yr avg)
✗AkreROE > 20% (3-year avg)
Discount to Intrinsic ValueN/A (negative normalized EPS)
✗Marks>= 20% below intrinsic value
Positive Net Income Frequency2/5 years positive
✗MarksPositive net income in >= 7 of last 10 years
Operating Income / Revenue11.9%
✗Ackman>= 15%
Net Income / Shareholders Equity5.9%
✗Ackman>= 15%
5-Year EPS CAGR
✗Templeton> 0% (5-year EPS CAGR)
Operating Margin Trend5.2% (2023) -> 11.9% (2025)
✓TempletonNon-negative operating-margin trend over 3 years
Revenue growth vs. gross and operating margin trendgross margin 19.5% -> 22.6%, operating margin 5.2% -> 11.9%
✗SleepRevenue rising; gross margin flat or falling; operating margin holding
Net income / market capitalization+2.59%; #2514/6340 (top 39.7%)
✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
Gross profit / total assets+21.60%; #1952/3702 (top 52.7%)
✗AsnessTop 30% of eligible cross-section
Net income / positive book equity+5.86%; #2357/5226 (top 45.1%)
✗AsnessTop 30% of eligible cross-section
Negative 5-year standard deviation of ROA-0.0200; #1433/5884 (top 24.4%)
✓AsnessTop 30% of eligible cross-section
3-5 Year Diluted EPS CAGR
✗Neff7%-20% annualized
Positive Diluted-EPS Years2/5 years positive
✗Schloss>= 70% positive over 5-10 observed years (app rule)
Efficiency13% pass✓ 3✗ 8▾
7 of 8 flag EFXT's efficiency — Graham, Buffett, Piotroski +4 more
Current Ratio1.13
✗Graham>= 2.0
ROIC (3-5 yr avg)6.3%
✗Buffett> 10%
ROIC - WACC-3.7%
✗BuffettPositive (WACC = 10%)
EBIT / (NWC + Net Fixed Assets)228.4%
✓Greenblatt> 25%
Current Ratio Change YoY1.14 -> 1.13
✗PiotroskiIncreased YoY
Revenue / Total Assets Change YoY0.86x -> 0.95x
✓PiotroskiImproved YoY
Current Assets / Current Liabilities1.13
✗Dreman> 1.5
Return on Invested Capital14.4%
✗Munger> 15%
ROIC (high and growing)FY2023: ROIC=4.8%; FY2024: ROIC=7.8%; FY2025: ROIC=14.4%
✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
Reinvestment Rate x ROIC10.6% (RR=73% x ROIC=14.4%)
✓AkreReinvestment Rate * ROIC > 10%
ROIC (5-year)1/5 years above 12% (latest 14.4%)
✗SleepROIC > 12% in a majority of years
Debt & Leverage25% pass✓ 5✗ 10▾
9 of 12 flag EFXT's debt & leverage — Graham, Buffett, Lynch +6 more
LT Debt vs Net Current AssetsLT Debt $582.0M vs NCA $113.0M
✗GrahamLT Debt <= Net Current Assets
Debt/Equity & Interest CoverageD/E: 0.53, IC: 2.5x
✗BuffettD/E < 0.5 AND Interest Coverage > 5x
Total Debt / Equity0.53
✗Lynch< 0.33
Cash - Long-term Debt$-501.0M
✗LynchPositive preferred
LT Debt / Total Assets Change25.37% -> 21.60%
✓PiotroskiDecreased YoY
Current Assets / Current Liabilities1.13
✗Dreman> 1.5✗SchlossCurrent ratio >= 1.50x (app cutoff)
Total Debt / Shareholders' Equity0.53
✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00x
Debt Levels0.53
✗MungerDebt/Equity < 0.5✗AkreDebt/Equity < 0.3
Interest Coverage & Debt/EBITDAIC=2.5x, D/EBITDA=1.2x
✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
Total Debt / Shareholders Equity0.53
✓Ackman<= 1.0
Negative debt-to-equity (higher means less debt)-0.5325; #2536/4210 (top 60.2%)
✗AsnessTop 30% of eligible cross-section
Valuation models29% pass✓ 2✗ 5▾
Models split on EFXT at $20.21 — fair values range $0.55–$51.02
Graham fair value$10.25
✗Graham-97.2% margin vs $20.21
Buffett fair value$4.97
✗Buffett-306.6% margin vs $20.21
Greenblatt fair value$12.97
✗Greenblatt-55.8% margin vs $20.21
Dreman fair value$0.55
✗Dreman-3574.5% margin vs $20.21
Munger fair value$48.76
✓Munger+58.6% margin vs $20.21
Pabrai fair value$6.95
✗Pabrai-190.8% margin vs $20.21
Ackman fair value$51.02
✓Ackman+60.4% margin vs $20.21
Valuation31% pass✓ 6✗ 22▾
9 of 13 flag EFXT's valuation — Graham, Lynch, Dreman +6 more
Price / 3-yr avg EPS
✗Graham<= 15x
Price-to-Book Ratio2.3x
✗Graham<= 1.5x
P/E x P/B
✗Graham<= 22.5
Basic earnings-growth PEG (dividends excluded)P/E 38.9x (growth N/A)
✗Lynch< 1.0 (ideally < 0.5)
EBIT / Enterprise Value10.3%
✓Greenblatt> 10%
Earnings Yield + ROC AssessmentEY=10.3%, ROC=228.4%
✓GreenblattBoth EY > 10% and ROC > 25%
Price / EPS38.9x
✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
Price / (CFO / Shares)7.1x
✓Dreman< 8x
Price / Book Value per Share2.3x
✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
Valuation ReasonablenessP/E=38.9x, OE Yield=8.4%
✓MungerP/E < 25 or Owner Earnings Yield > 5%
P/E or FCF YieldP/E=38.9x, FCF Yield=13.2%
✓PabraiP/E < 15 or FCF Yield > 10%
P/B or P/E vs. Historical AverageP/E=38.9x, P/B=2.3x
✗MarksP/E < 15 or P/B < 2.0
Discount to Intrinsic ValueN/A (negative normalized EPS)
✗Marks>= 20% below intrinsic value
Price / FCF per Share7.6x
✓Ackman<= 25
Price vs. Trailing Low309% of trailing low ($6.55)
✗Templeton<= 120% of trailing low (certified split-adjusted live window)
Net income / market capitalization+2.59%; #2514/6340 (top 39.7%)
✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
Positive book equity / market capitalization+0.4429; #3087/6449 (top 47.9%)
✗AsnessTop 30% of eligible cross-section
Price / Diluted EPS38.9x
✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)
(EPS CAGR % + Dividend Yield %) / P/E
✗Neff> 0.7 (Neff's published traditional edge)
Price / Tangible Book Value per Share3.88x
✗SchlossP/TBV <= 1.00x (app cutoff)
Book Value per Share Change
✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
Revenue / market capitalization+1.0419; #1731/5247 (top 33.0%)
✗OshaughnessyTop 10% of eligible cross-section
(Operating cash flow - capex) / market capitalization+13.21%; #488/4519 (top 10.8%)
✗OshaughnessyTop 10% of eligible cross-section
Trailing six-month price return through the evaluation date-5.65%; #3169/6202 (top 51.1%)
✗OshaughnessyTop 10% of eligible cross-section
Verdicts38% pass✓ 6✗ 10▾
Split decision: 10 FAIL · 3 PASS · 2 BUY · 1 NEUTRAL
Overall verdict
✗GrahamFAIL (1/9)✗BuffettFAIL (2/9)✗LynchFAIL (1/7)✓GreenblattRank #73✓PiotroskiBUY (F-Score 8)✗DremanFAIL (4/11)✓MungerPASS (2/4)✗PabraiFAIL (1/3)✗AkreFAIL (2/6)✗MarksFAIL (1/5)•AckmanNEUTRAL (6/9)✓TempletonPASS (4/8)✓SleepPASS (3/6)✓AsnessBUY (Rank #434/2370 (Top 18.3%))✗NeffFAIL (3/6)✗SchlossFAIL (2/7)✗OshaughnessyFAIL (Rank #432/963 (Top 44.9%))

Business & financials

Financial snapshot: annual FY 2025. Current investor scores may use newer quarterly data.

Company Profile

Industry: Machinery

SIC Sector: Industrial Machinery & Computing

Size: Mid Cap($2.5B)

Revenue: $2.6B+6.5% YoY

Net Income: $64.0M+100.0% YoY

Financial Snapshot

Operating Margin11.9%

Return on Equity5.9%

Debt / Equity0.53

Current Ratio1.13

EPS (Diluted)$0.52+100.0% 1y

Buybacks (1y)$23.0M

Shares Retired1.9% / 1.7% 2y

Similar Companies

LRCXLAM RESEARCH CORP

JCIJohnson Controls International plc

$84.4B

Shareholder Return

Fiscal 2025

Retired 1.9% of shares last year, 1.7% over two.

Buybacks: $23.0M
Dividends: $17.0M

What drove EPS

A buyback raises earnings per share without the company earning more. This splits each year's change into the two.

FY25

100.0% = 100.0% + 0.0%

Earnings Fewer shares More shares

Share count is the denominator the filer used for diluted EPS, recovered as net income ÷ EPS — not the balance-sheet count, which is a point-in-time figure and would put the timing difference into this split. Years with a loss are omitted: a smaller share count makes a loss per share larger, so the decomposition inverts.

Company Financials

Latest TTM and quarters alongside annual years

TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.

Metric	FY 2025 Sources 40-F · 2026-02-26	FY 2024 Sources 40-F · 2025-02-27	FY 2023 Sources 40-F · 2025-02-27	FY 2022 Sources 40-F · 2024-02-29	FY 2021 Sources 40-F · 2023-03-02
Market Cap	$2.5Bcurrent	$1.2Best.	$624.8Mest.	$860.6Mest.	$485.6Mest.
Revenue	$2.6B↑7%	$2.4B↑3%	$2.3B↑79%	$1.3B↑74%	$753.4M
Operating Income	$306.0M↑77%	$173.0M↑43%	$121.0M↑7117%	$1.7M↓96%	$42.6M
Net Income	$64.0M↑100%	$32.0M↑139%	-$83.0M↓11%	-$74.5M↓414%	-$14.5M
EPS (Diluted)	$0.52↑100%	$0.26↑129%	$-0.90↓17%	$-0.77↓366%	$-0.16
Gross Margin	22.6%↑8%	20.9%↑7%	19.5%↑7%	18.2%↓14%	21.1%
Operating Margin	11.9%↑66%	7.2%↑39%	5.2%↑3941%	0.1%↓98%	5.7%
ROE	5.9%↑92%	3.1%↑139%	-7.9%↓20%	-6.5%↓380%	-1.4%
Total Debt	$582.0M↓18%	$708.0M↓23%	$919.0M↓10%	$1.0B↑295%	$260.1M
Shareholders' Equity	$1.1B↑4%	$1.0B	$1.1B↓7%	$1.1B↑7%	$1.1B
Current Ratio	1.13↓1%	1.14↓8%	1.25↓2%	1.28↓36%	2.00
Debt / Equity	0.53↓21%	0.67↓23%	0.87↓3%	0.90↑268%	0.24
Operating Cash Flow	$345.0M↑6%	$324.0M↑57%	$206.0M↑1312%	$14.6M↓91%	$163.4M
Free Cash Flow	$326.0M↑6%	$308.0M↑62%	$190.0M↑2096%	$8.7M↓95%	$159.3M

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Machinery

EFXT vs Peers — Financial Grading

Revenue$2.6BBottom 25%

Net Income$64.0MBottom 25%

ROE5.9%Bottom 25%

D/E0.53Median

Op. Margin11.9%Bottom 25%

Curr. Ratio1.13Bottom 25%

Company	Market Cap	Price	Revenue	Net Income	ROE	D/E	Op. Margin	Curr. Ratio	Graham	Buffett	Lynch	Greenblatt	Piotroski	Dreman
LAM RESEARCH CORPLRCX	$282.2B	$225.92	$23.2B	$7.3B	58.3%	0.30	35.3%	2.63	3/9	5/9	5/7	1/3	F-Score 8	5/11
CATERPILLAR INCCAT	$274.6B	$600.20	$67.6B	$8.9B	41.7%	1.70	16.5%	1.44	2/9	5/9	4/7	1/3	F-Score 6	5/11
DEERE & CODE	$181.6B	$673.54	$45.7B	$5.0B	19.4%	0.53	13.7%	—	2/9	6/9	4/7	0/3	F-Score 5	4/11
Johnson Controls International plcJCI	$84.4B	$139.33	$23.6B	$3.3B	25.5%	0.71	—	0.93	2/9	1/9	4/7	1/3	F-Score 6	4/11
CUMMINS INCCMI	$61.9B	$452.18	$33.7B	$3.0B	23.9%	0.56	12.0%	1.76	2/9	4/9	3/7	1/3	F-Score 6	7/11
ITT INC.ITT	$18.8B	$211.18	$3.9B	$488.0M	11.9%	0.19	17.4%	2.58	2/9	4/9	3/7	1/3	F-Score 5	3/11
REGAL REXNORD CORPRRX	$11.7B	$176.41	$5.9B	$279.5M	4.1%	0.70	11.5%	2.15	3/9	1/9	1/7	1/3	F-Score 6	3/11
GRACO INCGGG	$11.6B	$72.42	$2.2B	$521.8M	19.7%	0.00	27.9%	3.15	4/9	7/9	4/7	1/3	F-Score 7	5/11