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The Caldwell Partners International Inc (CWL) Fair Value & Analysis

Industrials · CA · Market cap C$33.0M

TC The Caldwell Partners International Inc CWL · TO
PriceC$1.05
Fair ValueC$1.82
Upside+73.3%
Quality58/100
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Healthy Growth
Thin margins · 3.2% net margin
generates free cash flow
2.84% dividend yield
Ranks above peers (11/14)
Narrow moat 40/100
Evidence: High Range C$1.37 – C$2.28 Share as image

Fair value as of: Jul 15, 2026

From 26 valuation models · updated 25 days ago

Fair value updated Jul 15, 2026, revised from C$1.96 to C$1.82 (−7.1%) since Jun 24, 2026. Share price −4.5% over the past month.

A solid business, screening 73% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (C$1.37). The market is more pessimistic than our downside scenario.
  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

C$2.67 C$0.6297 Fair Value C$1.82 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range C$0.6297 – C$2.67 · fair‑value band C$1.37 – C$2.28 · the C$1.05 price screens below the C$1.82 fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

The Caldwell Partners International Inc (CWL) currently trades at C$1.05, while our model-based Fair Value estimate is C$1.82, implying the stock looks roughly 73.3% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, The Caldwell Partners International Inc generated revenue of C$115M at a net margin of 2.5%. Revenue grew 17.8% year over year. It earns a return on equity of 8.5%. The balance sheet holds a net cash position of C$9.3M. Fundamentals as of Jul 15, 2026

Our scenario range runs from C$1.37 (bear case) to C$2.28 (bull case); at C$1.05, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 3% below its 52-week high and 72% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 23% fair-value upside, at 73%, CWL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income C$0.8600 C$0.8700 C$0.8200 76
Growth DCF C$1.52 C$1.94 C$2.48 72
Gordon GGM C$0.0500 C$0.0900 C$0.1100 70
All 26 models by family
DCF Models
FCF DCF C$1.53 C$2.00 C$2.64 38
Owner Earnings C$1.74 C$2.32 C$3.11 31
5Y Revenue Exit C$1.60 C$2.28 C$3.17 39
5Y EBITDA Exit C$1.91 C$2.88 C$4.06 41
5Y P/E Exit C$1.67 C$2.42 C$3.23 38
10Y Revenue Exit C$1.53 C$2.09 C$2.88 36
10Y EBITDA Exit C$1.72 C$2.45 C$3.49 37
10Y P/E Exit C$1.59 C$2.17 C$2.93 35
Earnings-Based
Graham-Dodd C$0.5900 C$2.31 C$3.14 54
Lynch FV C$0.5700 C$0.8100 C$1.06 50
PEG = 1.0 C$0.5700 C$0.8100 C$1.06 46
EPV C$1.18 C$1.25 C$1.31 59
Dividend Discount
Gordon GGM C$0.0500 C$0.0900 C$0.1100 70
DDM Multi-Stage C$0.0500 C$0.0800 C$0.0900 61
Multiples
P/E Multiple C$1.37 C$1.82 C$2.28 63
P/S Multiple C$1.11 C$1.48 C$1.85 58
P/B Multiple C$1.11 C$1.48 C$1.85 55
EV/EBIT C$2.17 C$2.71 C$3.25 53
EV/EBITDA C$2.38 C$2.99 C$3.60 54
EV/Revenue C$1.71 C$2.20 C$2.70 43
Asset-Based
NCAV (Graham) C$0.5900 C$0.7900 C$1.19 50
Growth DCF
Growth DCF C$1.52 C$1.94 C$2.48 72
Rev-Margin DCF C$1.60 C$2.27 C$3.10 67
Economic Profit
Residual Income C$0.8600 C$0.8700 C$0.8200 76
ROIC Compounder C$1.18 C$1.29 C$1.43 67
Growth Earnings
Growth-Adj P/E C$1.02 C$1.45 C$1.89 68

Widest divergence: DCF Models (C$2.28) versus Dividend Discount (C$0.0800). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) C$115M
Revenue growth (YoY) +17.8%
Net margin 2.5%
Return on equity 8.5%
Free cash flow C$3.2M FY2025
P/E ratio 9.2
More key figures
Operating margin 2.9%
EPS (TTM) C$0.1000
Dividend yield 2.8%
EPS growth (YoY) +25.8%
Net cash C$9.3M FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 58 · Market factors (momentum, volatility) 71

Profitability 47
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 68
Price trend over the last 3–12 months (market factor)
52W Momentum 81
Distance to the 52-week high (market factor)
Net Issuance 58
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

The Caldwell Partners International Inc., together with its subsidiaries, provides candidate research and sourcing services in Canada, the United States, and Europe. The company operates through Retained Executive Search and Analytics solutions; and On-Demand Talent Acquisition Augmentation Solutions segments.

Full company description

The Caldwell Partners International Inc., together with its subsidiaries, provides candidate research and sourcing services in Canada, the United States, and Europe. The company operates through Retained Executive Search and Analytics solutions; and On-Demand Talent Acquisition Augmentation Solutions segments. It offers a suite of talent strategy and assessment tools. The company offers its services under the Caldwell and IQTalent brand names. It serves academic, non-profit, social enterprise and culture, academic healthcare, consumer, financial services, industrial, insurance, life sciences and healthcare, private equity and venture capital, professional services, sports and entertainment, technology, and consumer and commercial banking industries. The Caldwell Partners International Inc. was founded in 1970 and is headquartered in Toronto, Canada.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

The Caldwell Partners International Inc reported revenue of C$104M in FY2025 versus C$120M in FY2021, a compound −3.5%/yr. Reported net income was C$2.6M in FY2025, compounding −13.2%/yr from FY2021.

Growth Quality 81/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
C$104M
Latest YoY
+19.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−12.7%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.3%
Avg. growth/yr (28Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.5%
Revenue −3.5%/yr
FY21 C$120M
FY22 C$156M
FY23 C$96.9M
FY24 C$87.2M
FY25 C$104M
Net income −13.2%/yr
FY21 C$4.5M
FY22 C$8.2M
FY23 −C$11.3M
FY24 C$4.2M
FY25 C$2.6M
Character of growth · EPS growth decomposed (2014-2025) +4.0 % p.a.
Revenue per share +2.4 pp

of which total revenue +6.5 pp · buybacks/dilution −4.1 pp

EBIT margin +7.0 pp
Tax rate −3.3 pp
Residual (interest, one-offs) −2.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "The Caldwell Partners International Inc Fair Value". https://www.fairvalue-calculator.com/stock/CWL

Peer Group

Staffing & Employment Services · 85 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 58 · Below median
Fair Value upside +73% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 6% · Above median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 9% · Top 25%
Revenue growth 3% · Above median
Dividend yield (TTM) 2.8% · Below median

Valuation Multiples vs Staffing & Employment Services median · lower = cheaper

P/E (TTM) 9.3× · Cheaper than 75% of peers
P/B 0.68× · Cheaper than 75% of peers
P/S (TTM) 0.20× · Cheaper than median
P/FCF 7.3× · Pricier than median
EV/EBITDA 1.0× · Cheaper than 75% of peers
PEG 0.88× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 41
FUTURE 16 · sector 1
PAST 42 · sector 36
HEALTH 0 · sector 95
DIVIDEND 57 · sector 60

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Staffing & Employment Services stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

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ManpowerGroup Inc MAN $39.02 $29.67 -24%
Insperity, Inc NSP $49.48 $17.34 -65%
FESCO Group 600861 ¥13.24 ¥45.46 +243%
Grupa Pracuj S.A GPP 47.40 PLN 65.45 PLN +38%
Barrett Business Services, Inc BBSI $37.43 $38.42 +3%
Maharah for Human Resources Company 1831 5.36 SAR 6.92 SAR +29%

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Frequently asked questions

Is The Caldwell Partners International Inc (CWL) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of C$1.82 versus a price of C$1.05, about +73% (undervalued).
What is the fair value of CWL?
Our model-based fair value for The Caldwell Partners International Inc is C$1.82 (as of Jul 15, 2026), built from audited fundamentals. The current price is C$1.05.
What is the quality score of CWL?
The Caldwell Partners International Inc has a Quality Score of 58/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of The Caldwell Partners International Inc (CWL)?
The Caldwell Partners International Inc reported trailing-twelve-month revenue of about C$115M (latest available figure, as of Jul 15, 2026).
What is the net profit margin of CWL?
The net profit margin of The Caldwell Partners International Inc is about 2.5%, meaning it keeps roughly 2.5% of revenue as net income. Based on the latest reported figures.
Does The Caldwell Partners International Inc pay a dividend?
The Caldwell Partners International Inc currently shows a dividend yield of about 2.78% relative to its recent price (as of Jul 15, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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