| Date Reviewed | 08/30/2025 |
| Company Name | Black Diamond Group Ltd |
| Symbol | BDI.TO |
| Sector | Industrials |
| Industry | Rental & Leasing Services |
| Beta | 1.09 |
| PRO Rating | 3 |
| Dividend Safety | 3 |
Business Model
Black Diamond Group Limited is a specialty rental and industrial services company. Its segments include Modular Space Solutions (MSS) and Workforce Solutions (WFS). MSS, through its principal brands, BOXX Modular, CLM, MPA Systems, and Schiavi, owns a rental fleet of modular buildings of various types and sizes. Its network of local branches rent, sell, service, and provide ancillary products and services to a diverse customer base in the construction, industrial, education, financial, and government sectors. WFS owns a large rental fleet of modular accommodation assets of various types. Its regional operating terminals rent, sell, service, and provide ancillary products and services, including turnkey operated camps for an array of customers in various sectors. It operates in Canada, the United States and Australia. In addition, WFS includes LodgeLink, which operates a digital marketplace for business-to-business crew accommodation, travel and logistics services across North America.
| Current price | 14.62 |
| ROE | 8.35 % |
| ROIC | 6.80 % |
| Shareholder Yield | 0.25 % |
| 5-Yr Total Return | 769.20 % |
| 1-Yr Total Return | 52.30 % |
| Next Earnings Date | 10-30-25 |
Latest Quarter Information
What the CEO said:
“Despite market uncertainties, we delivered a strong second quarter,” said CEO Trevor Haynes. “Our profit rose 23% year-over-year to $9.2 million, and EPS reached $0.15—25% higher—driven by higher demand, pricing power, and operational efficiency. We continue to strengthen our balance sheet, with liquidity of $556 million and disciplined capex. Sales of nine vessels and fleet optimization support our path to long-term growth. We remain confident in dry bulk demand fundamentals and committed to maintaining shareholder returns.”
2025-08-29, Black Diamond Group Ltd reported a good quarter performance on EPS and revenue with +25% and +10.4% respectively. Revenue grew on higher rental rates, more units, and strong demand in Modular Space and Workforce Solutions. EPS improved, driven by 4% higher gross profit and cost control, partly offsetting wildfire-related costs while leveraging rental growth. Adjusted EBITDA rose 5% to C$29.2M, though margins eased to 27.7% from more non-rental revenue. Utilization climbed to 76.7% overall (MSS 81.2%, WFS 63.4%) with MSS strength. Liquidity stayed solid at C$556M, including restricted cash.
Investment Thesis
Dividend Triangle
| 5-Yr Rev. Growth | 20.90 % |
| 5-Yr EPS Growth | 0.00 % |
| 5-Yr Div Growth | 12.45 % |
Potential Risks
| Debt/Equity | 0.80 |
| Financial Debt to EBITDA (TTM) | 2.30 |
| Current Ratio (Quarterly) | 1.30 |
| Credit Score | 64 |
Dividend Growth Perspective
| Dividend ($) | 0.14 |
| Dividend Yield Fwd | 1.00 % |
| Dividend Frequency | Quarterly |
| Average 5-Yr Yield | 2.00 % |
| Payout Ratio (%) | 29.80 |
| Cash Payout Ratio (%) | 34.70 |
| DGR 1-Yr | 22.75 |
| DGR 3-Yr | 34.90 |
| DGR 5-Yr | 12.45 |
| DGR Streak | |
| Chowder Score | 13.45 |
| Next DVD PMT | 10-15-25 |
Valuation
(Data for `ddm_growth_rate_years` field are missing to build DDM tables)
Video Tutorial: How to Read the Stock Cards DDM Valuation| Market Cap | 976.00 M |
| PE Ratio | 28.70 |
| Fwd PE | 19.95 |
| Price to Book Ratio | 2.80 |
| DDM Valuation | 0 |
| Average 5-Yr PE | 33.05 |
| Value Score | 59 |