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Transat A.T. Inc (TRZBF) fair value: what the stock is really worth

As of Sep 25, 2026: fair value of Transat A.T. Inc $2.13, price $1.43, upside +49.0%, quality 45 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Consumer Cyclical · US

TA Transat A.T. Inc logo Thin data Sep 24, 2026

Transat A.T. Inc

TRZBF · US

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value $2.13 · Undervalued (+49.0%)
!Quality 45/100
!Mixed Growth (revenue 5y +21.2 %/yr)
!Thin margins · 8.1% net margin (TTM)
✓Negative equity (buybacks among others) · generates free cash flow
!Mixed vs. peers (5/9)
!Narrow moat 15/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$5.51 $1.01 Fair Value $2.13 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range $1.01 – $5.51 · fair‑value band $1.19 – $2.66 · the $1.43 price screens below the $2.13 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Transat A.T. Inc., together with its subsidiaries, engages in the leisure travel business in the Americas and the Transatlantic. It offers vacation packages, hotel stays, and air travel services under the Transat and Air Transat brands.

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Transat A.T. Inc., together with its subsidiaries, engages in the leisure travel business in the Americas and the Transatlantic. It offers vacation packages, hotel stays, and air travel services under the Transat and Air Transat brands. The company also provides passenger air transportation services under the Air Transat brand; outgoing tours; and destination services, including hospitality and representation, passenger transfers, excursions, tours, sports, and other activities, as well as specialty services, such as destination weddings and teambuilding, etc. In addition, it engages in the retail distribution business, which includes providing advice to travelers and sells consumer products. As of October 31, 2025, the company's fleet consists of 16 Airbus A330s, 19 Airbus A321LRs, and 8 Airbus A321ceos fleets. Transat A.T. Inc. was incorporated in 1987 and is headquartered in Montreal, Canada.

Stock analysis

Transat A.T. Inc (TRZBF) currently trades at $1.43, while our model-based Fair Value estimate is $2.13, implying the stock looks roughly 32.9% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of $4.55 per share, and 14 of the 21 models we run sit above the $1.43 price.

Bear case: the Economic Profit group reads lowest at $0.2897, and 7 of the 21 models stay below the price. Evidence for this calculation is low.

Scenario range: $1.19 (bear) to $2.66 (bull), the price of $1.43 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 45/100 (below-average quality), in the Consumer Cyclical sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Transat A.T. Inc reported revenue of C$3.4B in FY2025 versus C$125M in FY2021, a compound +128.4%/yr. Reported net income was C$242M in FY2025.

Key figures

Market cap $73.4M · P/E ratio 0.3 · P/S ratio 0.02 · EPS (TTM) $4.74 · Net margin 7.1% · Return on equity −850% · Return on assets (EBIT) −6.2% · Operating margin −7.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 33% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at 49%, TRZBF screens cheaper than that median.

Fair Value models

Bear $1.19 Fair Value $2.13 Bull $2.66
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 11 months old). Earnings retained since then ($4.38 per share) are deliberately not added. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF $1.18 $1.57 $2.69 79
Growth DCF $1.12 $1.63 $2.53 78
5Y Revenue Exit $0.6232 $0.7408 $0.9703 74
All 21 models by family
DCF Models
FCF DCF $1.18 $1.57 $2.69 79
Owner Earnings $3.34 $6.33 $11.56 73
5Y Revenue Exit $0.6232 $0.7408 $0.9703 74
5Y EBITDA Exit $1.48 $2.48 $4.44 72
5Y P/E Exit $2.06 $4.49 $7.81 67
10Y Revenue Exit $0.8258 $1.15 $1.25 68
10Y EBITDA Exit $1.36 $2.71 $5.13 65
10Y P/E Exit $1.72 $3.75 $7.26 60
Earnings-Based
Graham-Dodd $0.9567 $6.67 $9.36 63
Lynch FV $2.42 $3.46 $4.50 61
PEG = 1.0 $2.42 $3.46 $4.50 57
EPV $0.2832 $0.2897 $0.2951 74
Multiples
P/E Multiple $2.32 $3.10 $3.87 63
P/S Multiple $1.78 $2.37 $2.96 58
EV/EBIT $0.3505 $0.3910 $0.4314 66
EV/EBITDA $1.65 $2.13 $2.60 67
EV/Revenue $0.3111 $0.3461 $0.3811 54
Growth DCF
Growth DCF $1.12 $1.63 $2.53 78
Rev-Margin DCF $0.6232 $0.8163 $1.15 73
Economic Profit
ROIC Compounder $0.2832 $0.2897 $0.2951 72
Growth Earnings
Growth-Adj P/E $3.18 $4.55 $5.91 67

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Quality Score breakdown

Overall quality 45/100

Of which business quality 44 · Market factors (momentum, volatility) 21

Profitability 57
Margins and returns on capital today
Quality Growth 78
Are margins and returns improving?
Cashflow 16
Earnings quality: real cash, not paper profit
Fin. Strength 26
Balance sheet, leverage, solvency risk
Investment 87
Disciplined investing over empire-building
Low Volatility 34
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 30
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+3.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+27.4%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+21.2%
Start year 2020 (pandemic). Over 10 years: −0.5% a year
Revenue growth 32 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+6.6%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−25.0% (2020) → 0.5% (2025)

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Peer Groupⓘ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.Travel Services · 84 stocks

Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 45 · Bottom 25%
Fair Value upside +43.7% · Above median
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −1.7% · Bottom 25%
Net margin (TTM) 8.1% · Above median
Operating margin (TTM) −7.8% · Bottom 25%
Growth and dividend
Revenue growth −0.3% · Below median
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Travel Services median · lower = cheaper

P/E (TTM) 0.3× · Cheapest 25%
P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM) 0.03× · Cheapest 25%
P/FCF 1.8× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)99 · sector 49
FUTURE (revenue growth)0 · sector 24
PAST (return on equity)0 · sector 36
HEALTH (low debt)0 · sector 94
DIVIDEND (yield)0 · sector 33

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

Context: sector, industry, market

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

Similar stocks

10 more Travel Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Booking Holdings BKNG $162.91 $192.97 +18%
Airbnb, Inc ABNB $160.65 $176.72 +10%
Royal Caribbean Cruises Ltd RCL $265.86 $209.94 −21%
Viking Holdings VIK $79.30 $87.23 +10%
Expedia Group EXPE $264.17 $290.59 +10%
Carnival Corporation CCL $25.07 $36.68 +46%
Trip.com Group 9961 HK$309.20 HK$679.42 +120%
Norwegian Cruise Line Holdings NCLH $14.80 $20.28 +37%
Global Business Travel Group GBTG $9.50 $5.23 −45%
MakeMyTrip Limited MMYT $46.75 $34.50 −26%

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Cite: Fair Value Calculator (2026). "Transat A.T. Inc Fair Value". https://www.fairvalue-calculator.com/stock/TRZBF

Frequently asked questions

Is Transat A.T. Inc (TRZBF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $2.13 versus the last price from Sep 25, 2026 of $1.43, about +49% upside (undervalued).
What is the fair value of TRZBF?
Our model-based fair value for Transat A.T. Inc is $2.13 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $1.43.
What is the quality score of TRZBF?
Transat A.T. Inc has a Quality Score of 45/100. 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 price target for Transat A.T. Inc (TRZBF)?
Our model-based price target is the fair value of $2.13 (as of Sep 24, 2026) from 21 valuation models. Cautious scenario $1.19, optimistic scenario $2.66. It is a calculation from audited fundamentals, not an analyst target.
What is the Transat A.T. Inc stock forecast for 2026?
Our models put fair value at $2.13, about +49% upside versus the last price from Sep 25, 2026 of $1.43 (undervalued). Cautious scenario $1.19, optimistic scenario $2.66. The calculation is refreshed regularly with new filings.
What is the revenue of Transat A.T. Inc (TRZBF)?
Transat A.T. Inc reported trailing-twelve-month revenue of about C$3.4B (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Transat A.T. Inc (TRZBF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Transat A.T. Inc it is $2.13 per share (as of Sep 24, 2026), against a price of $1.43. It is the blended result of 21 valuation models (cash flow, earnings, asset, dividend).
Is Transat A.T. Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, TRZBF trades below its calculated fair value: price $1.43, fair value $2.13, a gap of about +49% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TRZBF?
No. The price is what the market pays today ($1.43); the fair value is what the company's own numbers justify ($2.13). For Transat A.T. Inc the two are $0.7000 per share apart. That gap is exactly why we show both numbers side by side.
How much is Transat A.T. Inc worth?
The market values Transat A.T. Inc at about $73.4M (market capitalisation, as of Sep 24, 2026). Per share that is $1.43; our models calculate a fair value of $2.13 per share.
What do the bullish and bearish scenarios say about TRZBF?
Our models span a range for Transat A.T. Inc: cautious scenario $1.19, base $2.13, optimistic $2.66 per share (as of Sep 24, 2026, price $1.43). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TRZBF?
Transat A.T. Inc trades at a price-to-earnings ratio of 0.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $2.13 is built from several models across several years. Other multiples: P/S 0.0.
How solid is the balance sheet of Transat A.T. Inc (TRZBF)?
Balance-sheet figures for Transat A.T. Inc (as of Sep 24, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is TRZBF from its 52-week high?
Transat A.T. Inc trades at $1.43, about 33% below its 52-week high of $2.15 and 11% above the low of $1.29 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of $2.13 is for.
Which stocks are comparable to Transat A.T. Inc?
From the same area (Consumer Cyclical) we also value Booking Holdings, Airbnb, Inc, Royal Caribbean Cruises Ltd, Viking Holdings, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Transat A.T. Inc stock attractive at the current price?
The data as of Sep 24, 2026: price $1.43, calculated fair value $2.13 (+49%), Quality Score 45/100, from 21 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TRZBF calculated?
We run Transat A.T. Inc through 21 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $2.13, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Transat A.T. Inc currently trades 33 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Transat A.T. Inc (TRZBF)?
The latest price we hold is from Sep 25, 2026 and stands at $1.43. Our model-based fair value is $2.13, about +49% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Transat A.T. Inc right now?
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($1.19 to $2.66) leaves room in how you read the outcome.

Key figures of Transat A.T. Inc

How large is the market capitalisation of Transat A.T. Inc (TRZBF)?
The market capitalisation of Transat A.T. Inc is $73.4M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Transat A.T. Inc (TRZBF)?
The price-to-sales ratio of Transat A.T. Inc is 0.02 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Transat A.T. Inc (TRZBF)?
Earnings per share at Transat A.T. Inc are $4.74 (price ÷ EPS = P/E 0.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Transat A.T. Inc (TRZBF)?
The net margin of Transat A.T. Inc is 7.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Transat A.T. Inc (TRZBF)?
The return on equity (ROE) of Transat A.T. Inc is −850% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Transat A.T. Inc (TRZBF)?
On an EBIT basis the return on assets of Transat A.T. Inc is −6.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Transat A.T. Inc (TRZBF)?
The operating margin of Transat A.T. Inc is −7.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Transat A.T. Inc (TRZBF)?
Revenue at Transat A.T. Inc is growing −0.3% versus a year earlier (3y avg +27.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Transat A.T. Inc (TRZBF)?
Earnings per share at Transat A.T. Inc are growing +11.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Transat A.T. Inc (TRZBF) generate?
The free cash flow of Transat A.T. Inc is C$59.1M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Transat A.T. Inc (TRZBF) carry?
The net debt of Transat A.T. Inc is C$953M (fiscal year 2025, ≈ 16.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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