Pet Valu Holdings Ltd. PET

Consumer DiscretionarySpecialty RetailersCanada

Last close 21.08 CAD on Nov 2, 2026, −22.9% year to date

Quant rating

Quant rating B Rank 8 of 32 in Consumer Discretionary

Growth C 16 of 32
Valuation B 8 of 32
Quality B 6 of 32
Revisions B 11 of 32
Momentum C 21 of 32

Wall Street consensus Buy (2.20)Average target 25.00 CAD +18.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 1.4B
Enterprise value: 2.2B
52-week range: 16.58 – 35.74
3-year range: 16.58 – 39.12
Dividend yield: 2.61%
Beta (5 years): 0.85
Shares outstanding: 67.8M
Next earnings: Nov 10, 2026

About the company

Pet Valu Holdings Ltd. is a Canadian specialty retailer of pet food and pet-related supplies. The Company has over 833 corporate-owned or franchised locations across the country. Through its neighborhood stores and digital platform, it offers more than 7,000 competitively priced products, including an assortment of premium, super premium, and holistic brands. Its family of stores consists of Pet Valu, Bosley's by Pet Valu, Total Pet and Tisol Pet Nutrition & Supply. Its product categories include puppy essentials, dog food, dog treats, dog toys, dog collars, leashes & harnesses, dog carriers & travel, kitten essentials, cat food, cat litter & litter boxes, cat bowls & feeding, small pet food, treats & hay and aquariums, kits & tanks. Its brands include Performatrin Ultra, ACANA, Royal Canin, ORIJEN, Go! Solutions, Performatrin Prime, Hill's Science Diet, Big Country Raw, Open Farm and Stella & Chewy's, Purina Proplan, Purina Pro Plan, and Weruva.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	1,176	1,097	1,056	952	776	–
Revenue growth	7.1%	3.9%	10.9%	22.6%	19.7%	12.6%
EPS (basic, normalized)	1.61	1.57	1.61	1.59	1.02	–
EPS growth	2.5%	−2.5%	1.3%	55.9%	–	–
Gross margin	33.1%	33.2%	34.6%	37.0%	37.0%	35.0%
Net margin	8.3%	8.0%	8.5%	10.6%	12.3%	9.5%
ROE	100.8%	105.7%	255.5%	–	–	154.0%

Balance sheet, last quarter
Cash & short-term investments (mil)	24.3
Current ratio	1.29x
Long-term debt (mil)	735
Net debt (mil)	792
Total equity (mil)	91.4
Net debt / equity	8.66x
Net debt / EBITDA	3.08x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	1,176	+7.1%	1.9x	257	+5.5%	8.6x	1.61	+2.5%	13.1x
2026	1,190	+1.2%	1.9x	255	−1.0%	8.7x	1.58	−1.8%	13.3x
2027	1,243	+4.5%	1.8x	264	+3.8%	8.4x	1.75	+10.4%	12.1x
2028	1,310	+5.4%	1.7x	285	+7.9%	7.8x	2.04	+17.0%	10.3x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	1,190	0.0%	0.0%	−0.4%	1.58	0.0%	+1.6%	−6.3%
2027	1,243	−0.4%	−0.3%	−1.2%	1.75	−0.4%	−0.2%	−8.7%
2028	1,310	−1.2%	−1.6%	−1.7%	2.04	+0.1%	+1.1%	−2.2%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	261	265	276	295	297	281	289	326	288	291
Sales mean (mil)	259	267	268	293	275	281	294	332	287	289
Surprise	+0.8%	−0.7%	+3.1%	+0.9%	+8.1%	−0.2%	−1.5%	−1.6%	+0.2%	+0.7%
EPS reported	0.35	0.38	0.41	0.45	0.36	0.38	0.40	0.49	0.31	0.41
EPS mean	0.31	0.34	0.34	0.40	0.34	0.33	0.40	0.51	0.37	0.35
Surprise	+12.4%	+11.0%	+18.9%	+12.5%	+6.7%	+16.3%	+0.8%	−4.8%	−15.2%	+16.2%

Peer comparison Specialty Retailers

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
PET Pet Valu Holdings Ltd.	1.4B	3.08x	8.3%	15.56x	13.3x	12.1x	8.7x	8.4x
ATZ Aritzia Inc.	14.4B	1.01x	10.3%	11.52x	28.6x	23.5x	15.3x	12.8x
WRBY Warby Parker Inc.	4.1B	−3.07x	0.2%	7.51x	51.7x	38.1x	22.5x	17.5x
LNF Leon's Furniture Ltd	1.8B	0.34x	6.1%	1.47x	12.4x	11.5x	6.1x	5.8x
GRGD Groupe Dynamite Inc.	1.1B	1.10x	19.2%	55.75x	17.4x	14.9x	2.5x	2.2x
WINA Winmark Corporation	1.4B	0.58x	48.4%	−26.95x	25.5x	25.4x	18.0x	18.3x
Mean		0.50x	15.4%	10.81x	24.8x	20.9x	12.2x	10.8x
Median		0.79x	9.3%	9.51x	21.5x	19.2x	12.0x	10.6x

Technical analysis

1M+20.5%
3M+8.1%
1Y−37.9%
3Y−9.9%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, Pet Valu Holdings Ltd., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	1,176	1,097	1,056	952	776	648
Cost of revenue	787	733	691	599	489	418
Gross profit	389	365	365	352	287	231
Selling, general & administrative expenses	200	187	184	176	144	117
Research & development	–	–	–	–	–	–
Depreciation/amortization	24.2	22.2	20.4	16.3	13.3	11.4
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	0.2	−1.0	–	0	5.7	0
Other operating expenses	0	0	0	0	0	0
Operating income	164	156	161	160	124	103
Net interest income (expense)	−30.2	−34.9	−30.8	−21.6	1.4	−62.6
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	−4.7	0.1	0	0
Net income before taxes	134	121	125	139	125	40.1
Provision for taxes	36.0	34.0	35.6	37.9	26.3	11.4
Minority interest	–	–	–	0	−3.4	−7.4
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	97.8	87.4	89.5	101	95.4	21.2
Extraordinary items	–	–	–	–	–	–
Net income	97.8	87.4	89.5	101	95.4	21.2
EBIT, normalized	164	156	162	161	130	103
EBITDA, normalized	238	222	213	200	163	135
Basic EPS, normalized	1.61	1.57	1.61	1.59	1.02	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, Pet Valu Holdings Ltd., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	35.7	35.1	28.4	63.0	50.1	71.5
Receivables	75.9	76.2	68.2	52.8	41.0	35.8
Total inventory	131	125	122	118	91.7	78.0
Prepaid expenses	14.9	10.6	19.4	22.3	10.4	8.6
Other current assets	0	0	0	0	0	0
Total current assets	258	247	238	256	193	194
Property, plant & equipment	447	394	358	174	143	141
Goodwill	100	98.2	97.6	97.6	92.9	93.3
Intangibles	48.4	50.2	52.2	52.3	37.4	36.1
Long-term investments	–	–	0	4.7	2.2	–
Note receivable	172	170	159	141	122	96.7
Other long-term assets	11.9	11.7	11.5	13.9	8.7	1.5
Total assets	1,038	971	917	740	599	562
Liabilities
Accounts payable	–	33.4	34.0	33.8	35.4	33.5
Payable/accrued	70.0	–	–	–	–	–
Accrued expenses	43.2	72.3	54.4	70.0	51.6	66.4
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	77.1	76.9	81.8	69.1	50.8	50.2
Other current liabilities	8.6	1.8	2.0	16.3	14.6	1.9
Total current liabilities	199	184	172	189	152	152
Long-term debt	726	672	655	536	534	873
Minority interest	–	–	–	–	0	119
Other liabilities	14.5	18.3	19.6	14.6	7.7	6.8
Total liabilities	939	875	847	740	694	1,151
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	333	314	322	316	307	–
Additional paid-in capital	5.0	10.4	6.9	4.1	1.8	–
Retained earnings (accumulated deficit)	−239	−228	−259	−320	−404	−589
Treasury stock	–	–	–	–	–	–
Other equity	−0.1	−0.1	−0.1	−0.2	−0.2	0
Total equity	98.3	95.7	69.7	0.4	−94.5	−589
Total liabilities & shareholders' equity	1,038	971	917	740	599	562

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, Pet Valu Holdings Ltd., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	97.8	87.4	89.5	101	98.8	28.6
Depreciation, depletion & amortization	73.7	65.9	50.7	38.1	33.7	32.1
Deferred taxes	–	–	–	–	–	–
Non-cash items	67.8	72.4	75.3	60.7	32.8	73.5
Changes in working capital	−37.2	−25.6	−80.2	−76.0	−27.1	18.0
Cash from operations	202	200	135	124	138	152
Investing activities
Capital expenditures	−59.2	−65.3	−63.2	−44.4	−28.5	−20.3
Other investing cash flows	56.0	56.8	47.0	27.1	32.5	31.8
Cash from investing	−3.2	−8.5	−16.2	−17.3	4.0	11.5
Financing activities
Financing cash flow items	−29.6	−48.2	−30.9	−31.9	−81.4	−85.6
Cash dividends paid	−33.2	−31.5	−28.5	−16.9	−0.7	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−135	−104	−94.3	−44.0	−81.2	−50.3
Cash from financing	−198	−184	−154	−92.8	−163	−136
Foreign exchange effects	−0.1	−1.0	0	−0.4	−0.2	−0.1
Net change in cash	0.6	6.7	−34.6	13.0	−21.4	27.6
Free cash flow	143	135	72.2	79.1	110	132

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.