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Sylogist Ltd (SYZ) Fair Value & Analysis

Technology · CA · Market cap C$82.3M

SL Sylogist Ltd SYZ · TO
PriceC$3.37
Fair ValueC$4.06
Upside+20.5%
Quality47/100
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Mixed Growth
Loss-making · -12.4% net margin
Moderate debt · generates free cash flow
1.11% dividend yield
Trails peers (3/13)
Narrow moat 12/100
Evidence: Medium Range C$2.93 – C$5.19 Share as image

Fair value as of: Jul 16, 2026

From 11 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from C$4.01 to C$4.06 (+1.2%) since Jun 24, 2026. Share price −8.2% over the past month.

Below-average quality, screening 20% undervalued on our models.

What matters now

  • Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from C$2.93 (bear) to C$5.19 (bull), base C$4.06. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 47/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

C$15.27 C$3.03 Fair Value C$4.06 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range C$3.03 – C$15.27 · fair‑value band C$2.93 – C$5.19 · the C$3.37 price screens below the C$4.06 fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Sylogist Ltd (SYZ) currently trades at C$3.37, while our model-based Fair Value estimate is C$4.06, implying the stock looks roughly 20.5% undervalued today. The Quality Score stands at 47/100 (below-average quality), in the Technology 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: medium), always confirm before acting.

Over the trailing twelve months, Sylogist Ltd generated revenue of C$60.7M at a net margin of -12.4%. Revenue declined 9.7% year over year. It earns a return on equity of -23.7%. Net debt stands at C$10.9M. Fundamentals as of Jul 16, 2026

Our scenario range runs from C$2.93 (bear case) to C$5.19 (bull case); at C$3.37, the current price sits within 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 66% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at 20%, SYZ 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (C$0.1900 to C$4.06). Read the values as a conservative anchor, not as a price target.
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
Growth DCF C$0.1900 C$0.4300 80
Rev-Margin DCF C$0.0100 C$0.2800 C$0.6100 74
EV/EBITDA C$2.93 C$4.06 C$5.19 54
All 11 models by family
DCF Models
FCF DCF C$0.2100 C$0.4800 38
Owner Earnings C$2.16 C$3.33 C$4.85 31
5Y Revenue Exit C$0.0100 C$0.2800 C$0.6300 39
5Y EBITDA Exit C$1.46 C$3.08 C$5.03 41
10Y Revenue Exit C$0.2200 C$0.5300 36
10Y EBITDA Exit C$0.8000 C$1.90 C$3.47 37
Multiples
EV/EBITDA C$2.93 C$4.06 C$5.19 54
EV/Revenue C$0.0300 C$0.2400 C$0.4600 43
Asset-Based
NCAV (Graham) C$0.6700 C$0.8900 C$1.34 50
Growth DCF
Growth DCF C$0.1900 C$0.4300 80
Rev-Margin DCF C$0.0100 C$0.2800 C$0.6100 74

Widest divergence: Asset-Based (C$0.8900) versus Growth DCF (C$0.1900). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) C$60.7M
Revenue growth (YoY) -9.7%
Net margin -12.4%
Return on equity -23.7%
Free cash flow C$1.3M FY2025
Operating margin -9.3%
More key figures
EPS (TTM) C$-0.3200
Dividend yield 1.1%
EPS growth (YoY) +215%
Net debt C$10.9M FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 47 · Market factors (momentum, volatility) 24

Profitability 21
Margins and returns on capital today
Quality Growth 21
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 32
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 49
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 87
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

Sylogist Ltd., a software company, provides mission-critical software-as-a-service solutions to public sector customers in Canada, the United States, the United Kingdom, and internationally.

Full company description

Sylogist Ltd., a software company, provides mission-critical software-as-a-service solutions to public sector customers in Canada, the United States, the United Kingdom, and internationally. The company offers SylogistMission platform, including CRM system, donor management; online fundraising; and volunteer, event, program, and campaign management, as well as ERP system, such as fund accounting; core financial tools; human resource and personal management; and automation, analytical, and reporting. It also provides SylogistEd platform comprising accounts payable and purchase requisition, payroll, personnel and employee portal, personnel and employee portal, employee document management, treasurer, time management, warehouse, fixed assets, and activity funds; and student information system, which includes student information, gradebook, lunchroom, guardian and student portals, student records portals, document management, and payment processing. In addition, the company offers SylogistGov, a cloud-based solution, such as SylogistGov ERP, a cloud ERP for local government, built on dynamics 365 business central needs; and SylogistGov VSS, a comprehensive state victim notification and case management solutions. Further, it provides FuelPay, a payment processing solution; the Portal Connector, which provides data management tools; SylogistService, such as data and intelligence solutions, consulting and project management, association management solutions, healthcare solutions, and software development IT services; and time and talent suite for payroll management. The company serves government, nonprofit, and education industries. Sylogist Ltd. was incorporated in 1993 and is headquartered in Calgary, Canada.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sylogist Ltd reported revenue of C$62.2M in FY2025 versus C$38.7M in FY2021, a compound +12.6%/yr. Reported net income was −C$4.7M in FY2025.

Growth Quality 48/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
C$62.2M
Latest YoY
−5.1%
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.
−3.4%
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.
+10.3%
Avg. growth/yr (27Y) 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.
+8.9%
Revenue +12.6%/yr
FY21 C$38.7M
FY22 C$69.0M
FY23 C$65.5M
FY24 C$65.6M
FY25 C$62.2M
Net income
FY21 C$4.4M
FY22 C$2.5M
FY23 C$1.1M
FY24 −C$727K
FY25 −C$4.7M

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Cite: Fair Value Calculator (2026). "Sylogist Ltd Fair Value". https://www.fairvalue-calculator.com/stock/SYZ

Peer Group

Software - Application · 709 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 47 · Below median
Fair Value upside +21% · Top 25%
Return on assets -4% · Below median
Net margin (TTM) -12% · Bottom 25%
Operating margin (TTM) -9% · Bottom 25%
Revenue growth -10% · Bottom 25%
Dividend yield (TTM) 1.1% · Below median
Debt / equity 0.61× · Higher than 75% of peers

Valuation Multiples vs Software - Application median · lower = cheaper

P/B 1.90× · Cheaper than median
P/S (TTM) 0.97× · Cheaper than median
P/FCF 46.7× · Pricier than 75% of peers
EV/EBITDA 71.3× · Pricier 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 61 · sector 0
FUTURE 0 · sector 38
PAST 0 · sector 13
HEALTH 69 · sector 98
DIVIDEND 22 · sector 28

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is Sylogist Ltd (SYZ) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of C$4.06 versus a price of C$3.37, about +20% (undervalued).
What is the fair value of SYZ?
Our model-based fair value for Sylogist Ltd is C$4.06 (as of Jul 16, 2026), built from audited fundamentals. The current price is C$3.37.
What is the quality score of SYZ?
Sylogist Ltd has a Quality Score of 47/100. 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 Sylogist Ltd (SYZ)?
Sylogist Ltd reported trailing-twelve-month revenue of about C$60.7M (latest available figure, as of Jul 16, 2026).
What is the net profit margin of SYZ?
The net profit margin of Sylogist Ltd is about -12.4%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Sylogist Ltd pay a dividend?
Sylogist Ltd currently shows a dividend yield of about 1.06% relative to its recent price (as of Jul 16, 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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